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RESOLUTION 06-07 <br /> A RESOLUTION OF THE CITY OF PEQUOT LAKES <br /> A RESOLUTION REQUESTING THE MINNESOTA LEGISLATURE <br /> TO APPROVE A SPECIAL LAW AUTHORIZING A ONE-HALF <br /> PERCENT LOCAL OPTION SALES TAX FOR THE CITY OF <br /> PEQUOT LAKES <br /> WHEREAS, the City of Pequot Lakes is proposing a local sales tax in the amount of <br /> one-half of one percent (0.5%)up to an amount of$5,000,000 to be used <br /> for the City's cost share of the improvements to the Highway 371 North <br /> Improvement; and <br /> WHEREAS, Highway 371 is a major north-south route on the State of Minnesota Trunk <br /> Highway System which is used extensively by tourists to reach vacation <br /> destinations; and <br /> WHEREAS, tourist travel along this segment of regional Highway 371 from Baxter, <br /> Nisswa, Pequot Lakes, Jenkins, and Pine River creates high seasonal <br /> traffic peaks which cause traffic delays, congestion, and safety hazards for <br /> tourists as well as for the local citizens; and <br /> WHEREAS, although the Minnesota Department of Transportation will fund much of <br /> the improvement,there is a fair share cost approach which requires the <br /> City of Pequot Lakes to participate in the funding; and <br /> WHEREAS, the approximate cost to complete the required improvements for the City <br /> of Pequot Lakes is $7,000,000; and <br /> WHEREAS, the City of Pequot Lakes is concerned about the ability to fund the <br /> required improvements; and <br /> WHEREAS, the City of Pequot Lakes will pursue all available funding options for this <br /> project; and <br /> WHEREAS, the City of Pequot Lakes does not feel that the citizens of Pequot Lakes <br /> should have to bear the entire expense of this project; and <br /> NOW, THEREFORE,BE IT RESOLVED by the City Council of the City of Pequot <br /> Lakes as follows: <br />