Pitkin County Library District Bond Question (November 2012)
If approved, this question would have authorized Pitkin County Library District to issue up to $5.4 million in general obligation bonds which would have a repayment cost of no more than $10.2 million in order to fund the improvement of the Pitkin County Library facilities. These bonds would be repaid by a property tax increase of $460,000 per year for up to 25 years.
|Ballot Issue 5B|
Election results from Pitikin County Summary of Election Results
Text of measure
Language on the ballot:
This text is quoted verbatim from the original source. Any inconsistencies are attributed to the original source.
|“|| SHALL DEBT FOR THE PITKIN COUNTY LIBRARY DISTRICT BE INCREASED $5.4 MILLION WITH A MAXIMUM REPAYMENT COST OF UP TO $10.2 MILLION, AND SHALL PROPERTY TAXES FOR THE PITKIN COUNTY LIBRARY DISTRICT BE INCREASED UP TO $460,000 ANNUALLY AND BE LEVIED WITHOUT LIMITATION AS TO RATE TO REPAY SUCH DEBT; SUCH DEBT TO BE EVIDENCED BY THE ISSUANCE OF GENERAL OBLIGATION BONDS IN ONE OR MORE SERIES WHICH SHALL BEAR INTEREST AT A MAXIMUM NET EFFECTIVE INTEREST RATE NOT TO EXCEED 6%, BE SUBJECT TO REDEMPTION PRIOR TO MATURITY WITH OR WITHOUT A PREMIUM, AND MATURE NOT LATER THAN 25 YEARS FROM THE ISSUANCE THEREOF;
ALL FOR THE PURPOSE OF FUNDING THE IMPROVEMENT, RENOVATION, AND EXPANSION OF THE PITKIN COUNTY LIBRARY IN ORDER TO:
• BUILD A NEW CHILDREN’S LIBRARY AND INTERACTIVE LEARNING CENTER TO PROMOTE EDUCATION AND EARLY CHILDHOOD LITERACY; • PROVIDE PUBLIC INDOOR/OUTDOOR WIRELESS INTERNET ACCESS (WI-FI), AND UPGRADE COMPUTER WORK AREAS AND TECHNOLOGY FOR DIGITAL RESOURCES; • INCREASE SUSTAINABILITY AND ENERGY EFFICIENCY THROUGH GREEN BUILDING PRACTICES AND MATERIALS; • BUILD A FLEXIBLE COMMUNITY MEETING ROOM AVAILABLE OUTSIDE REGULAR LIBRARY HOURS AND A VARIETY OF SMALLER PUBLIC MEETING SPACES; • CREATE A TEEN LIBRARY WITH SEPARATE STUDY AREAS TO FOSTER COLLABORATIVE LEARNING; • RESTRUCTURE EXISTING SPACE TO ADDRESS SAFETY AND SECURITY CONCERNS AND COMPLY WITH THE REQUIREMENTS OF THE AMERICANS WITH DISABILITIES ACT; AND • MODERNIZE AND RECONFIGURE ALL AREAS OF THE LIBRARY TO BETTER MEET THE PRESENT AND FUTURE INFORMATION AND EDUCATION NEEDS OF THE COMMUNITY?