Fountain City Property Tax Increase Question (November 2012)
If approved, this measure would have authorized an up to 5.25 mills property tax increase. The additional revenue from this increase would have been used for the construction and equipping of a new fire station. After all costs of construction were paid, the rate would have been decreased to 3.32 mills ($3.32 per $1,000 assessed value) to be used for continued funding for the operation of the station and other fire services, such as emergency medical services.
|2D-City of Fountain Fire Department Tax|
Election results from El Paso County Current Election Results Summary
Text of measure
Language on the ballot:
|“||SHALL CITY OF FOUNTAIN PROPERTY TAXES BE INCREASED NINE HUNDRED SEVENTY-FIVE THOUSAND DOLLARS ($975,000) (FIRST FULL FISCAL YEAR DOLLAR INCREASE) ANNUALLY AND BY WHATEVER ADDITIONAL AMOUNTS ARE RAISED ANNUALLY THEREAFTER BY LEVYING AN AD VALOREM MILL LEVY RATE INCREASE OF 5.25 MILLS ON ALL PROPERTY IN THE CITY OF FOUNTAIN IN 2012 FOR COLLECTION STARTING IN 2013 AND SHALL CITY OF FOUNTAIN DEBT BE INCREASED BY AN AMOUNT NOT TO EXCEED THREE MILLION FIFTY THOUSAND DOLLARS ($3,050,000) WITH A MAXIMUM ANNUAL REPAYMENT COST OF FOUR HUNDRED FIVE THOUSAND DOLLARS ($405,000) AND WITH A MAXIMUM TOTAL REPAYMENT COST OF FOUR MILLION TWO HUNDRED FIFTY THOUSAND DOLLARS ($4,250,000) (SUCH AMOUNT BEING THE TOTAL PRINCIPAL, INTEREST, AND DEBT PREMIUM THAT COULD BE PAYABLE OVER THE MAXIMUM TERM OF THE DEBT); SUCH AD VALOREM PROPERTY TAX INCREASE TO BE IMPLEMENTED BY AN ORDINANCE OR RESOLUTION OF THE CITY OF FOUNTAIN, COLORADO TO BE USED SOLELY TO PAY FOR THE FOLLOWING:
• THE ACQUIRING, CONSTRUCTION, EQUIPPING AND STAFFING OF A FIRE STATION IN THE CITY OF FOUNTAIN EAST OF THE RAILROAD TRACKS;
SUCH DEBT TO CONSIST OF GENERAL OBLIGATION DEBT ISSUED SOLELY FOR THE FOLLOWING PURPOSES:
- "Colorado Springs Independent," "Decisions, Decisions" September 05, 2012
- El Paso County Elections, Current Measures
- Note: This text is quoted verbatim from the original source. Any inconsistencies are attributed to the original source.