December 26, 2012Updated Dec 26, 2012 at 7:15 PM CST
Duluth, MN (NNCNOW.com)– A sales tax that collected revenue from Duluth hotels and restaurants has expired thanks to quick payments of bonds issued to the Duluth Entertainment Convention Center and the Great Lakes Aquarium.
City officials say the taxation termination will put close to one-million dollars back into the hands of local, and out of town patrons.
The dual .5% sales taxes on food and beverage, and lodging was written by the state legislature to expire when the bonds were paid off.
“They would let it sunset once those bonds, the final payments had been collected and in fact that is what they are doing. They are fulfilling a promise they made which is rare for local governments.”
The bonds are scheduled to be paid off in February of 2013