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HomeMy WebLinkAboutR16-072 Ballot Question - Open Space Tax Commissioner C.A4'0./.41)Uc—.11--' J4-z-' 4L— moved adoption of the following Resolution: BOARD OF COUNTY COMMISSIONERS COUNTY OF EAGLE, STATE OF COLORADO RESOLUTION NO. 2016 - 61 V A RESOLUTION PROVIDING FOR THE SUBMISSION TO THE REGISTERED AND QUALIFIED ELECTORS OF EAGLE COUNTY, COLORADO, A QUESTION OF WHETHER THE COUNTY SHALL BE AUTHORIZED TO ISSUE BONDS OR OTHER FINANCIAL OBLIGATIONS FOR THE PURPOSE OF FINANCING THE COMPLETION OF CRITICAL SECTIONS OF THE EAGLE COUNTY TRAIL SYSTEM; AND IN CONNECTION THEREWITH TO AUTHORIZE USING A PORTION OF THE EXISTING OPEN SPACE TAX REVENUE FOR REPAYMENT OF THE SAME; AND IN FURTHER CONNECTION THEREWITH TO EXTEND THE EXPIRATION DATE OF THE OPEN SPACE TAX FOR AN ADDITIONAL PERIOD OF FIFTEEN (15) YEARS; SAID QUESTION TO BE SUBMITTED AT THE ELECTION TO BE HELD NOVEMBER 8, 2016; PRESCRIBING THE FORM OF BALLOT QUESTION FOR SUBMISSION AT SAID ELECTION, AND PROVIDING FOR CERTIFICATION OF THE ELECTION QUESTION TO THE COUNTY CLERK AND RECORDER. WHEREAS, pursuant to Section 30-11-107(1)(d) C.R.S., the Eagle County Board of County Commissioners (the"Board") is authorized to apportion and order the levying of taxes as provided by law; and WHEREAS, pursuant to this and other authority, the Board submitted and had approved by the electors of Eagle County on November 7, 1995, a question to increase sales tax by one- half of one percent for the purpose of operating a mass transportation system, with ten percent of all such revenue collected being dedicated to bike path purposes (the"Transit Sales Tax"); and WHEREAS, the current, annual revenue generated by the Transit Sales Tax dedicated for bike path purposes is approximately $741,000. Engineered estimates for completion of the core bike path trail connecting Vail Pass to the Glenwood Canyon (the "Eagle Valley Trail"), is approximately$29 million. Accordingly, completing the trail with the current projected revenue streams would take approximately 43 additional years with an estimated completion date of 2058; and WHEREAS,the Board is desirous of expediting the completion of the Eagle Valley Trail and other trails in the Eagle River Valley and Roaring Fork Valley by using alternative and currently existing revenue sources in conjunction with other available funding sources including grants; and WHEREAS, the Board submitted and had approved by the electors of Eagle County on November 5, 2002, a question to increase property taxes by one and one-half mills for the purpose of acquiring, maintaining, or permanently preserving open space in Eagle County, including the ability to service future voter-approved debt for such purposes (the "Open Space Mill Levy"); and WHEREAS,without raising either rates for the Transit Sales Tax or Open Space Mill Levy, the Board is desirous of pledging a portion, not to exceed twenty-five percent (25%), of the annual revenue generated from the Open Space Mill Levy towards the payment of debt and to otherwise assist in the completion of the Eagle Valley Trail and other trails; and WHEREAS, the Board is desirous of extending the sunset provision of the Open Space Mill Levy for an additional 15 years from the current expiration of 2025 to 2040 to provide a necessary funding source for repayment of said debt; and WHEREAS, recent polling shows that seventy-nine percent (79%) of voters polled believe that a top priority for potential ballot measure spending is protecting the Eagle, Colorado and Roaring Fork rivers and water quality. Sixty-seven (67%) stated they were more likely to support a ballot measure dedicating twenty-five (25%) of funding from a, potential ballot measure to building and maintaining trails. Sixty-one percent (61%) of voters polled indicated they would support a ballot measure extending the existing open space mill levy for trail and open space purposes; and WHEREAS, Article X, Section 20 of the Colorado Constitution requires voter approval for, among other things, the creation of any debt, the extension of any expiring tax, and for collecting, retaining and expending certain moneys above established limits; and WHEREAS, the Board has determined that there should be submitted to the qualified and registered electors of Eagle County, at the general election to be held on November 8, 2016 (the "Election"), the question of whether Eagle County shall be authorized to issue bonds or other financial obligations of the County for the purpose of financing the completion of the Eagle Valley Trail and other trails; and in connection therewith to extend the Open Space Mill Levy, without raising the same, so portions of such revenue can be used to repay the outstanding debt used to expedite completion of the Eagle Valley Trail and other trails; and WHEREAS, the proposal may be submitted at the Election that shall be conducted by the Eagle County Clerk and Recorder in accordance with the "Uniform Election Code of 1992," Articles 1 to 13 of Title 1, C.R.S. NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF COUNTY COMMISSIONERS OF THE COUNTY OF EAGLE, STATE OF COLORADO: Section 1. Certification of Question to Clerk and Recorder for Election. The following question is hereby certified to the Eagle County Clerk and Recorder and shall be presented at the Election. Such notices as are required by Article X, Section 20 of the Colorado Constitution shall be provided by the Clerk and Recorder. Section 2. Form of Ballot Question. At the Election there shall be submitted to a vote of the registered qualified electors of the County the following question: "SHALL EAGLE COUNTY'S DEBT BE INCREASED BY NO MORE THAN $19.95 MILLION WITH A MAXIMUM REPAYMENT COST OF NO MORE THAN $32.7 MILLION, WITHOUT IMPOSING ANY NEW TAX OR INCREASING ANY EXISTING TAX RATE; WITH SUCH DEBT TO BE ISSUED FOR THE PURPOSE OF FINANCING THE COSTS OF ACQUIRING AND CONSTRUCTING IMPROVEMENTS TO AND EXPANSION OF THE EAGLE VALLEY TRAIL FROM VAIL PASS TO DOTSERO AND OTHER RELATED IMPROVEMENTS, AND SHALL DEBT BE EVIDENCED BY BONDS, NOTES, LOAN AGREEMENTS OR OTHER FINANCIAL OBLIGATIONS THAT MAY MATURE, BE SUBJECT TO REDEMPTION, AND BE ISSUED AT SUCH TIME OR TIMES AND IN SUCH MANNER AND CONTAINING SUCH TERMS, NOT INCONSISTENT WITH THIS QUESTION, AS EAGLE COUNTY MAY DETERMINE, AND BE REPAID FROM REVENUES DERIVED FROM EAGLE COUNTY'S TRANSIT SALES TAX, OPEN SPACE MILL LEVY, AND OTHER LEGALLY AVAILABLE REVENUES AS EAGLE COUNTY MAY DETERMINE; AND SHALL EAGLE COUNTY BE AUTHORIZED TO REFUND THE DEBT IN THIS QUESTION, PROVIDED THAT SUCH REFUNDING DEBT DOES NOT EXCEED THE MAXIMUM PRINCIPAL LIMITS OR REPAYMENT COSTS AUTHORIZED BY THIS QUESTION; AND, IN CONNECTION THEREWITH: (I) SHALL THE EXPIRATION OF THE OPEN SPACE MILL LEVY EQUAL TO 1.5 MILLS APPROVED BY THE VOTERS IN 2002 BE EXTENDED FOR AN ADDITIONAL FIFTEEN (15)YEARS TO NOW EXPIRE IN 2040, WITH: • TWENTY PERCENT (20%) OF SAID OPEN SPACE MILL LEVY REVENUES USED TO PAY SUCH DEBT AUTHORIZED BY THIS QUESTION AND THE COSTS OF ACQUIRING, CONSTRUC 'i. 4 ROVING, OPERATING AND MAINTAINING PAVED TRAILS TH 4trN AGLE COUNTY; • FIVE PERCENT (5%) OF SAID OPE ' ``t��,' �4 I LEVY REVENUES USED TO PAY FOR ACQUIRING, CONS 1 1, IMPROVING, OPERATING AND MAINTAINING UNPAVED TRA ' .7 �." i�GHOUT EAGLE COUNTY; • AND THE REMAINDER OF SAID OPEN S'ACE MILL LEVY REVENUES TO BE USED FOR WATER QUALITY PROTECTION EFFORTS AND FOR THE PURPOSES AUTHORIZED BY THE VOTERS IN 2002, INCLUDING ACQUIRING, MAINTAINING, OR PERMANENTLY PRESERVING OPEN SPACE IN EAGLE COUNTY TO PRESERVE WILDLIFE HABITAT, PROTECT WETLANDS AND FLOODPLAINS, CONSERVE SCENIC LANDSCAPES AND VISTAS, AND PROVIDE PUBLIC ACCESS POINTS TO RIVERS; AND (II) SHALL THE PROCEEDS OF THE DEBT, THE REVENUES FROM THE OPEN SPACE MILL LEVY AND ANY OTHER REVENUES USED TO PAY THE DEBT, AND ANY EARNINGS FROM THE INVESTMENT OF SUCH PROCEEDS AND REVENUES BE AUTHORIZED TO BE COLLECTED AND SPENT BY EAGLE COUNTY WITHOUT REGARD TO ANY SPENDING, REVENUE-RAISING OR OTHER LIMITATION CONTAINED WITHIN ARTICLE X, SECTION 20 OF THE COLORADO CONSTITUTION, OR ANY OTHER LAW 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 AND SPENT BY EAGLE COUNTY? Yes No" Section 3. Severability. If any part, section, paragraph, clause or provision of this Resolution shall be adjudged to be invalid or unenforceable, the invalidity or unenforceability of such section, paragraph, clause, or provision shall not affect the remaining sections, paragraphs, clauses or provisions of this Resolution, it being the intention that the various parts hereof are severable. Section 4. Actions. The officers and employees of Eagle County are authorized and directed to take all action necessary or appropriate to effectuate the provisions of this Resolution. If a majority of the votes cast on the question to authorize the issuance of bonds or other financial obligations, extending the open space tax, and authorizing use of the open space tax as an additional revenue source toward the repayment of such bonds as provided in such question, Eagle County shall be authorized to proceed with the necessary action to issue the bonds and such authority shall be continuing and neither the partial exercise of the authority so conferred, nor any lapse of time, shall be considered as exhausting or limiting the full authority so conferred. The officers, employees and agents of Eagle County shall be authorized to take all action necessary or reasonably required to carry out, give effect to and consummate the transactions contemplated by this Resolution and shall take all action necessary or desirable to finance the completion of the Eagle Valley Trail. MOVED,READ AND ADOPTED by the Board of County Commissioners of the County of Eagle, State of Colorado, at its regular meeting held the 30th day of August, 2016. .004 COUNTY OF EAGLE, STATE OF :VW% COLORADO, by and Through Its ATTEST: 4 ?I OARD OF COUNTY COMMISSIONERS %WS* `7lIMo€.--41 o By: . t �� Clerk to the'Board of janne McQueeney County Commissioners Chair trti'. "lian H. Ryan Co 'ssioner / at /Al y C f dler-Henry Commissioner Commissioner seconded adoption of the foregoing resolution. The roll having been called, the vote was as follows: Commissioner McQueeney 14-In Commissioner Ryan 4-I4 `` Commissioner Chandler-Henry 411-14 This Resolution passed by ` 0 vote of the Board of County Commissioners of the County of Eagle, State of Colorado