HomeMy WebLinkAboutResolution No. 006-11 •
RESOLUTION
A RESOLUTION IN SUPPORT OF EXTENDING THE, OR
IN THE ALTERNATIVE, REAUTHORIZING A,
HALF CENT SALES AND USE TAX TO FUND CITY PROJECTS
WHEREAS, the City of Rochester currently imposes a half cent sales and use tax
under Minnesota Laws 1998, Chapter 389, Article 8, Section 43;
WHEREAS, the City of Rochester Common Council will seek legislative
authorization from the State of Minnesota Legislature to extend the duration and amount
authorized for project improvements of the City of Rochester one-half percent sales and
use tax currently in effect; and,
WHEREAS, alternatively, the City of Rochester Common Council will seek
legislative authorization from the State of Minnesota Legislature to reauthorize a one-half
percent sales and use tax for the City of Rochester; and,
WHEREAS, Minnesota Statutes Section 297A.99, subd. 2, states that, before a
00cal governing body requests legislative approval of a special law for a local sales tax, it
must adopt a resolution indicating its approval of the tax and providing information on the
proposed tax rate, the manner in which the tax revenues will be spent, the total tax
revenue that will be raised before the tax expires and the estimated length of time the tax
will be in effect.
NOW, THEREFORE, BE IT RESOLVED by the City of Rochester Common
Council that it requests that the Legislature extend the duration and approve an increase
in the amount authorized in the 1998 City of Rochester sales and use tax currently in
effect for project improvements and for the purposes listed below.
BE IT FURTHER RESOLVED, that, alternatively, the City of Rochester Common
Council requests that the Legislature reauthorize a one-half percent sales and use tax for
the City of Rochester for the purposes listed below; and,
BE IT FURTHER RESOLVED that the City of Rochester Common Council
provides the following additional information as required by Minn. Stat. Section 297A.99,
r
subd. 2:
1. The proposed tax rate is to remain at one-half of one percent and an excise
tax in the amount of$20.00 per vehicle purchased.
2. The total tax revenue to be raised from the extension of this sales and use
tax is estimated to be $160,000,000 in project improvements with an
estimated additional $45,344,076 million in cost of issuance, intere t
thereon, and premium to retire the bonds for a total of$205,344,076.
3. The tax revenues will be used for five categories of improvements: Higher
Education; Transportation, including airport, roadways and mass transit;
Economic Development; Public Safety; and Regional/Community Facilities,
with specific projects for each category as shown on the attached summary.
4. The estimated termination date of the City of Rochester sales and use tax
would be extended from 2011 to 2029.
PASSED AND ADOPTED BY THE COMMON COUNCIL OF THE CITY OF
ROCHESTER, MINNESOTA, THIS RJ DA CT2 X 0 _, 2011.
PRESIDENT OF SAID COMMON COUNCIL
ATTEST:
ITY CLERK
APPROVED THIS 16�h DAY OF , 2011.
MAYOR OF SAID CITY
(Seal of the City of
Rochester, Minnesota)
Rest O\Support.SalesTaxl
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