This measure would place four constraints on the process of creating a municipal electric utility. It would require voters to approve the dollar amount of any debt that the utility wishes to undertake, would require out-of-city customers to be included in the debt votes, would limit elections to November in odd-numbered years, and would limit brokerage fees to 1% of bond sales.
This initiated measure, 310, is in direct conflict with 2e. If both measures pass, then whichever measure receives more votes will take effect.
Recommendation: AGAINST
The election dates and brokerage fee constraints are unneeded and some might say mean-spirited. The constraint requiring enfranchising out-of-city residents on debt votes is contrary to current election law. Much of the area in question could be annexed to the city under existing agreements, but neither the city nor the affected future customers are clamoring for annexation. Finally, the debt limit constraint is more severe than TABOR. With all the complaints that TABOR generates, why would we want to go further than TABOR?
Website for the For side (Voter Approval of Debt Limits)
http://voterapprovalofdebtlimits.com/
Website for the Against side (Empower Our Future)
http://empowerourfuture.org/
City of Boulder Ballot Question No. 310 (Approved Ballot Language)
Shall Article XIII of the Charter of the City of Boulder be amended by the addition of a new section 188 “Limitations on Debt,” that provides (a) before the electric utility enterprise issues any debt, voters must approve the amount of the utility’s debt limit and the total cost of debt repayment that the utility will incur, both to be stated in dollars in any ballot question; and (b) the utility’s service area shall not extend to areas outside the city limits unless registered electors in those areas are permitted to vote in these debt limit and repayment cost elections; and (c) such elections shall be held on the dates of general municipal elections; and (d) any brokerage fees for managing any sale of bonds or other indebtedness shall be limited to one percent of proceeds?
- For the measure
- Against the measure
See Ordinance 7919 to put 310 on the ballot after petition requirements were met.
https://www-static.bouldercolorado.gov/docs/7919_Initiated_Measure-1-201308301129.pdf
This initiated measure, 310, is in direct conflict with 2e. If both measures pass, then whichever measure receives more votes will take effect.
Recommendation: AGAINST
The election dates and brokerage fee constraints are unneeded and some might say mean-spirited. The constraint requiring enfranchising out-of-city residents on debt votes is contrary to current election law. Much of the area in question could be annexed to the city under existing agreements, but neither the city nor the affected future customers are clamoring for annexation. Finally, the debt limit constraint is more severe than TABOR. With all the complaints that TABOR generates, why would we want to go further than TABOR?
Website for the For side (Voter Approval of Debt Limits)
http://voterapprovalofdebtlimits.com/
Website for the Against side (Empower Our Future)
http://empowerourfuture.org/
City of Boulder Ballot Question No. 310 (Approved Ballot Language)
Shall Article XIII of the Charter of the City of Boulder be amended by the addition of a new section 188 “Limitations on Debt,” that provides (a) before the electric utility enterprise issues any debt, voters must approve the amount of the utility’s debt limit and the total cost of debt repayment that the utility will incur, both to be stated in dollars in any ballot question; and (b) the utility’s service area shall not extend to areas outside the city limits unless registered electors in those areas are permitted to vote in these debt limit and repayment cost elections; and (c) such elections shall be held on the dates of general municipal elections; and (d) any brokerage fees for managing any sale of bonds or other indebtedness shall be limited to one percent of proceeds?
- For the measure
- Against the measure
See Ordinance 7919 to put 310 on the ballot after petition requirements were met.
https://www-static.bouldercolorado.gov/docs/7919_Initiated_Measure-1-201308301129.pdf
I've written an evenhanded evaluation of this question on my ColoradoBallot website at Boulder 310
ReplyDeletethanks - dave