County of Boulder 1A -- Clean Energy Options

This would allow Boulder County to take on debt in order to make loans to property owners wanting to make energy efficiency improvements or to install clean energy equipment such as solar panels. It is not a tax increase. The loan would be paid back by the participating property owners through a special assessment which would stay with the property until the loan is repaid. (This new program is possible because of the passage of House Bill 1350 sponsored by Alice Madden, a state representative from Boulder.)

Recommendation: YES
People purchasing new homes should try to wrap the cost of energy improvements into their mortgage so that they can get the mortgage tax break. The rest of us could line up to take advantage of this proposed program. Individuals benefit since the county can usually get loans at a lower interest than individuals can. Collection of property taxes is straightforward. The downside to this ballot measure that I see is that there will be a limited number of loans available.


Website for the Yes side
http://yes1a.org/resolution.php

Website for the No side
No known website -- Info on an opposition website appreciated.


COUNTY ISSUE 1A (Approved Ballot Language)

Boulder County Clean Energy Options LID Debt and Multiple Fiscal Year Financial Obligation Authorization:

SHALL BOULDER COUNTY DEBT (FOR CLEAN ENERGY OPTIONS LOCAL IMPROVEMENT DISTRICT) BE INCREASED BY UP TO $40,000,000, WITH A MAXIMUM REPAYMENT COST OF UP TO $96,800,000, WITH NO INCREASE IN ANY COUNTY TAX OR TAX RATE, FOR THE PURPOSE OF FINANCING THE COSTS OF CONSTRUCTING, ACQUIRING AND INSTALLING SOLAR AND OTHER RENEWABLE ENERGY SYSTEMS OR ENERGY-EFFICIENCY IMPROVEMENTS FOR PROPERTY OWNERS THAT CONSENT TO BE INCLUDED IN THE DISTRICT BY ENTERING INTO A CONTRACT OR AGREEMENT FOR INCLUSION IN THE DISTRICT, AND ANY COSTS NECESSARY OR INCIDENTAL THERETO, INCLUDING WITHOUT LIMITATION THE COST OF ESTABLISHING RESERVES TO SECURE THE PAYMENT OF SUCH DEBT, BY THE ISSUANCE OF SPECIAL ASSESSMENT BONDS PAYABLE FROM SPECIAL
ASSESSMENTS IMPOSED AGAINST BENEFITED PROPERTIES FOR WHICH THE OWNERS THEREOF HAVE CONSENTED TO BE INCLUDED WITHIN THE DISTRICT BY ENTERING INTO SUCH A CONTRACT OR AGREEMENT FOR INCLUSION, AND FROM OTHER FUNDS THAT MAY BE LAWFULLY PLEDGED TO THE PAYMENT OF SUCH BONDS, WHICH BONDS SHALL BEAR INTEREST AT A MAXIMUM NET EFFECTIVE INTEREST RATE NOT TO EXCEED 10%, SHALL BE SUBJECT TO REDEMPTION, WITH OR WITHOUT PREMIUM, SHALL BE ISSUED, DATED, AND SOLD AT SUCH TIME OR TIMES, AT SUCH PRICES (AT, ABOVE OR BELOW PAR) AND IN SUCH MANNER, IN ONE OR MORE SERIES, AND SHALL CONTAIN SUCH TERMS, NOT INCONSISTENT HEREWITH, AS THE BOARD OF COUNTY COMMISSIONERS MAY DETERMINE; SHALL THE COUNTY BE AUTHORIZED TO ENTER INTO A MULTIPLE-FISCAL YEAR OBLIGATION TO ADVANCE AMOUNTS FOR PAYMENT OF A PORTION OF SUCH BONDS AND TO REIMBURSE ITSELF FOR SUCH ADVANCES BY COLLECTING UNPAID ASSESSMENTS AS PROVIDED IN SECTION 30-20-619(2), COLORADO REVISED STATUTES, AS AMENDED; AND SHALL THE REVENUES FROM SUCH SPECIAL ASSESSMENTS AND ANY EARNINGS THEREON AND FROM THE INVESTMENT OF THE PROCEEDS OF SUCH BONDS CONSTITUTE A VOTER-APPROVED REVENUE CHANGE; ALL IN ACCORDANCE WITH BOARD OF COUNTY COMMISSIONERS’ RESOLUTION NO. 2008-99?

YES ___ NO ___


See Resolution No. 2008-99.
http://www.bouldercounty.org/newsroom/articlefiles/1304-2008-99%20Resolution%20for%201A%20-%20Clean%20Energy%20Options.pdf