Aurora City Transportation Bond And Tax Question (November 2012)
If approved, this question would have authorized the City of Aurora to increase its debt not to exceed $74 million through issuing general obligation bonds. The repayment plan for this debt would not exceed $135 million and the increases taxes would not exceed $5.82 per year. The revenue from these bonds would be used to fund the acquisition, construction, installation, equipment and repair of transportation infrastructure.
|Aurora City Question 2B|
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 AURORA’S DEBT BE INCREASED NOT TO EXCEED $74,000,000 WITH A REPAYMENT COST NOT TO EXCEED $135,000,000 (PRINCIPAL AND INTEREST), AND SHALL AURORA’S TAXES BE INCREASED NOT TO EXCEED $5,820,000 ANNUALLY TO PROVIDE FOR A COMPREHENSIVE, INTEGRATED TRANSPORTATION AND ACCESS SYSTEM FOR MOTORISTS, PEDESTRIANS, AND BICYCLISTS, BY AMENDING THE CITY CHARTER TO PERMIT THE ISSUANCE OF GENERAL OBLIGATION BONDS OR SIMILAR OBLIGATIONS, TO BE PAID THROUGH PROPERTY TAXES, WITHOUT REDUCTION, IN A SUFFICIENT RATE AND AMOUNT TO PAY SUCH OBLIGATIONS OR ANY REFUNDINGS, THE PROCEEDS OF WHICH, INCLUDING EARNINGS, SHALL BE USED TO PAY FOR ACQUIRING, CONSTRUCTING, INSTALLING, EQUIPPING, AND REPAIRING TRANSPORTATION INFRASTRUCTURE PROJECTS, AND SHALL AURORA BE ALLOWED TO COLLECT, RETAIN AND EXPEND ALL REVENUES NECESSARY TO PAY SUCH OBLIGATIONS WITHOUT AFFECTINGARE ELIGIBLE TO VOTE ON THE FOLLOWING AURORA’S OTHER DEBT, TAXES, REVENUES, OR EXPENDITURES UNDER THE CONSTITUTION AND LAWS OF THIS STATE AND THE CITY?
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State of Colorado
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