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City of <br /> EW <br /> RiV <br /> To Item Number <br /> Mayor and City Council 8.4 <br /> Agenda Section Meeting Date Prepared by <br /> General Business July 16, 2018 Tina Allard, City Clerk <br /> Item Description Reviewed by <br /> Resolution: Local Option Sales Tax Referendum Cal Portner, City Administrator <br /> Reviewed by <br /> Action Requested <br /> Adopt,by motion, a resolution relating to imposition of a sales and use tax and the issuance of bonds for <br /> purposes of making$35,000,000 in certain park improvements and recreational facility improvements; or <br /> Adopt,by motion, a resolution relating to imposition of a sales and use tax and the issuance of bonds for <br /> purposes of making$25,000,000 in certain park improvements and recreational facility improvements <br /> Background/Discussion <br /> As Council is aware, the city has many facilities in substantial disrepair with minimal capital investment in <br /> them over the years. Further, after many community meetings over the last four years, the city has <br /> identified several needs and wants for our park system. <br /> The Council,via a Sales Tax Study and Council-led Listening Sessions,identified the implementation of a <br /> 0.5% sales tax as the best means to pay for the needed infrastructure and most accepted by community <br /> members. <br /> Per Minnesota State Statute §297A.99,before Council can request special legislation approval of a special <br /> law for implementation of a local sales tax, the Council must adopt a resolution indicating its approval of <br /> a sales tax. The resolution must include information on the proposed tax rate,how the revenues will be <br /> used, the total tax revenue that will be raised before the tax expires, and the estimated length of time the <br /> tax will be in effect. <br /> Financial Impact <br /> N/A <br /> Attachments <br /> ■ Resolution for$35,000,000 Local Option Sales Tax Referendum <br /> ■ Resolution for$25,000,000 Local Option Sales Tax Referendum <br /> The Elk River Vision <br /> A PehoMing community Pitb revolutionary and spirited resourcefulness, exceptional P,`01 W E H E 8 6 T <br /> service, and community engagement that encourages and inspires prosperity INAWRE1 <br />