Elections

Town of Grand Lake

Referred Issue 2A

SHALL TOWN OF GRAND LAKE TAXES BE INCREASED $387 THOUSAND IN 2017 AND THEN ANNUALLY BY WHATEVER AMOUNTS ARE RAISED THERE AFTER BY THE IMPOSITION OF AN ADDITIONAL SALES AND USE TAX AT THE RATE OF 1.0 PERCENT; AND SHALL TOWN OF GRAND LAKE DEBT BE INCREASED $4.3 MILLION, WITH A REPAYMENT COST OF $7.625 MILLION (MAXIMUM PRINCIPAL AND INTEREST) SUBJECT TO THE FOLLOWING: ALL OR ANY PORTION OF THE NET PROCEEDS OF THE TOWN SALES TAX, AS DETERMINED BY THE BOARD OF TRUSTEES, MAY BE DEPOSITED TO THE TOWN'S CAPITAL IMPROVEMENT FUND, WHICH IS HEREBY AUTHORIZED TO BE CREATED, TO BE COLLECTED, RETAINED AND SPENT TO FINANCE IMPROVEMENTS TO STREETS, BOARDWALKS, SIDEWALKS, MULTI-USE PATHWAYS, STREETSCAPES, SIGNAGE, AND DRAINAGE OR TO PAY DEBT SERVICE ON DEBT ISSUED FOR SUCH PURPOSES OR TO PAY THE COSTS OF OPERATING OR MAINTAINING IMPROVEMENTS FINANCED FROM THE CAPITAL IMPROVEMENT FUND; ANY SUCH DEBT SHALL BE PAYABLE FROM THAT PORTION OF THE TOWN SALES TAXES DEPOSITED TO THE TOWN'S CAPITAL IMPROVEMENT FUND; ANY SUCH DEBT MAY BE SOLD IN ONE SERIES OR MORE, ON TERMS AND CONDITIONS AS THE BOARD OF TRUSTEES MAY DETERMINE, INCLUDING PROVISIONS FOR THE REDEMPTION OF THE BONDS PRIOR TO MATURITY WITH OR WITHOUT PAYMENT OF A PREMIUM; SUCH TAX INCREASE SHALL COMMENCE JANUARY 1, 2017 AND BE COLLECTED IN ADDITION TO THE TOWN'S SALES AND USE TAX OF 4.0 PERCENT UPON THE SAME TRANSACTIONS AS THE TOWN'S EXISTING SALES AND USE TAX AND SHALL THE TAX TERMINATE AS SOON AS PRACTICABLE AFTER THE DEBT IS PAID IN FULL; AND SHALL ORDINANCE NO. 11 PROVIDING FOR SUCH TAX INCREASE BE APPROVED; AND SHALL THE REVENUES GENERATED BY SUCH TAX INCREASE AND THE PROCEEDS OF SUCH DEBT AND ANY EARNINGS FROM THE INVESTMENT OF SUCH REVENUES AND PROCEEDS MAY BE COLLECTED AND SPENT BY THE TOWN AS A VOTER-APPROVED REVENUE CHANGE, WITHOUT REGARD TO ANY SPENDING, REVENUE-RAISING, OR OTHER LIMITATION CONTAINED WITHIN ARTICLE X, SECTION 20 OF THE COLORADO CONSTITUTION OR ANY OTHER LAW?

YES/FOR – 144             

NO/ AGAINST – 123

• Candidates, Committees and Campaign Contributions Article
• Colorado Campaign and Political Finance Manual
• CIEC Ethics Handbook
• Meetings, Actions, Elections & Finance of Governing Body
• Amendment 41 and Municipal Officials and Employees
• Campaign Reform law; Use of Public Funds Restricted
• What a Board Member Should and Should Not Do