Larimer County Local Improvement District Bond Question (November 2012)
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A Larimer County Local Improvement District Bond question was on the November 6, 2012 election ballot in Larimer County, which is in Colorado.
If approved, this question authorizes the Larimer County Local Improvement District to issue $1.24 million in general special assessment bonds or other financial obligations. This debt will have a repayment cost of $2.52 million and be payable by a tax increase. These funds will be used to proved certain local improvements. [1]
Election results
| River Glen, Question 5E | ||||
|---|---|---|---|---|
| Result | Votes | Percentage | ||
 Yes | 106 | 89.83% | ||
| No | 12 | 10.17% | ||
Election results from Larimer County Current Election Results Summary
Text of measure
Language on the ballot:
| “ | SHALL LARIMER COUNTY DEBT BE INCREASED BY THE AMOUNT OF $1,240,000, WITH A REPAYMENT COST OF $2,520,000; AND SHALL LARIMER COUNTY TAXES BE INCREASED $2,520,000 ANNUALLY OR BY SUCH LESSER ANNUAL AMOUNT AS MAY BE NECESSARY TO PAY THE AFOREMENTIONED DEBT, BY IMPOSING SPECIAL ASSESSMENTS UPON PROPERTY IN THE COUNTY’S LOCAL IMPROVEMENT DISTRICT NO. 2012-1 (RIVER GLEN), WHICH ASSESSMENTS ARE SUBJECT TO PREPAYMENT AT THE OPTION OF THE PROPERTY OWNER: SUCH DEBT TO CONSIST OF SPECIAL ASSESSMENT BONDS OR OTHER FINANCIAL OBLIGATIONS BEARING INTEREST AT A NET EFFECTIVE INTEREST RATE NOT TO EXCEED 5%; SUCH SPECIAL ASSESSMENT BONDS OR OTHER FINANCIAL OBLIGATIONS SHALL BE ISSUED TO PAY THE COSTS OF PROVIDING CERTAIN LOCAL IMPROVEMENTS IN SUCH DISTRICT, TO BE REPAID FROM THE PROCEEDS OF SPECIAL ASSESSMENTS TO BE IMPOSED UPON THE PROPERTY INCLUDED WITHIN SUCH DISTRICT; SUCH TAXES TO CONSIST OF THE AFOREMENTIONED SPECIAL ASSESSMENTS IMPOSED UPON THE PROPERTY IN THE DISTRICT BENEFITED BY THE LOCAL IMPROVEMENTS; AND SHALL THE PROCEEDS OF SUCH BONDS OR OTHER FINANCIAL OBLIGATIONS AND THE PROCEEDS OF SUCH ASSESSMENTS, AND INVESTMENT INCOME THEREON CONSTITUTE VOTER-APPROVED REVENUE CHANGES AND BE COLLECTED AND SPENT BY THE COUNTY WITHOUT REGARD TO ANY EXPENDITURE, REVENUE-RAISING, OR OTHER LIMITATION
CONTAINED WITHIN ARTICLE X, SECTION 20 OF THE COLORADO CONSTITUTION OR ANY OTHER LAW, AND WITHOUT LIMITING IN ANY YEAR THE AMOUNT OF OTHER REVENUES THAT MAY BE COLLECTED AND SPENT BY THE COUNTY? YES |
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See also
Footnotes
- ↑ 1.0 1.1 Larimer County Elections, Sample Ballot
- ↑ Note: This text is quoted verbatim from the original source. Any inconsistencies are attributable to the original source.
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