Pole Creek Meadows Public Improvement District Bond Question (November 2012)
If approved, this question authorizes the Pole Creek Meadows Public Improvement District to issue up to $550,000 in bonds with a repayment cost of up to $800,000 to be paid by a tax increase of up to $88,000 per year. These funds will be used for road improvements and construction.
|Grand County Referred Measure 1A|
Election results from Grand County Current Election Results Summary
Text of measure
Language on the ballot:
|“||SHALL POLE CREEK MEADOS, GRAND COUNTY, COLORADO, PULIC IMPROVEMENT DISTRICT, DEBT BE INCREASED BY UP TO $550,000, WITH A MAXIMUM REPAYMENT COST OF UP TO &800,000, AND SHALL DISTRICT TAXES BE INCREASED UP TO $88,000 ANNUALLY OR SUCH LESSER AMOUNT AS MAY BE NECESSARY FOR THE PAYMENT OF SUCH DEBT AND ANY REFUNDINGS THEREOF FOR THE PURPOSE OF PAYING, LEASING, FINANCING OR REIMBURSING ALL OR ANY PART OF THE COSTS OF DESIGNING, CONSTRUCTING, INSTALLING, COMPLETING, PAVING, AND OTHERWISE PROVIDING ROADS, TOGETHER WITH INCIDENTAL COSTS RELATING TO SUCH PURPOSE, BY THE ISSUANCE AND PAYMENT OF BONDS, WHICH BONDS SHALL BEAR INTEREST AT A MAXIMUM NET EFFECTIVE INTEREST RATE NOT TO EXCEED 6% AND MATURE, BE SUBJECT TO REDEMPTION, WITH OR WITHOUT PREMIUM, AND BE ISSUED, DATED AND SOLD AT SUCH TIME OR TIMES, AT SUCH PRICES (AT, ABOVE OR BELOW PAR) AND IN SUCH MANNER AND CONTAINING SUCH TERMS, NOT INCONSISTENT HEREWITH, AS THE GOVERNING BODY OF THE DISTRICT MAY DETERMINE; SHALL AD VALOREM PROPERTY TAXES BE LEVIED IN ANY YEAR, WITHOUT LIMITATIONS AS TO REATE OR AMOUNT OR ANY OTHER CONDITION, TO PAY THE PRINCIPAL OF, PREMIUM, IF ANY, AND INTEREST ON SUCH BONDS AND TO FUND ANY RESERVES FOR THE PAYMENT THEREOF; AND SHALL THE PROCEEDS OF ANY SUCH BONDS AND THE REVENUE FROM SUCH TAXES, ANY OTHER REVENUE USED TO PAY SUCH BONDS, AND INVESTMENT EARNINGS THEREON (REGARDLESS OF AMOUNT) BE COLLECTED, RETAINED AND SPENT BY THE DISTRICT 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 WHICH PURPORTS TO LIMIT THE DISTRICT'S REVENUES OR EXPENDITURES AS IT CURRENTLY EXISTS OR AS IT MAY BE AMENDED IN THE FUTURE, AND WITHOUT LIMITING IN ANY YEAR THE AMOUNT OF OTHER REVENUES THAT MAY BE COLLECTED, RETAINED AND SPENT BY THE DISTRICT?
- Grand County Elections, Sample Ballot
- Note: This text is quoted verbatim from the original source. Any inconsistencies are attributed to the original source.