City of Boulder 2B - Authorize Debt to be Repaid from the Climate Tax

Issue 2B only takes effect if both it and the Climate Tax in Issue 2A pass. Issue 2B allows the city to borrow against future Climate Tax revenue to pay for big projects up front, resulting in less money in later years to continue responding to the climate crisis.

Recommendation: (TAX) DEBT

The Federal Reserve has been increasing interest rates in order to cool inflation so borrowing costs are increasing. The city is not required to take on debt if 2B passes, but will have the authorization to do so.

Website for the Yes side
No known website – Info on a proponents’ website appreciated.
Boulder’s Funding City Climate Work webpage: https://bouldercolorado.gov/projects/funding-city-climate-work

Website for the No side
No known website – Info on an opponents’ website appreciated.


Approved Ballot Language
City of Boulder Ballot Issue 2B
Approving Issuance of Bonds to be Paid from Climate Tax (TABOR)

SHALL CITY OF BOULDER DEBT BE INCREASED UP TO $52.9 MILLION (PRINCIPAL AMOUNT) WITH A MAXIMUM REPAYMENT COST NOT TO EXCEED $75 MILLION (SUCH AMOUNT BEING THE TOTAL PRINCIPAL AND INTEREST THAT COULD BE PAYABLE OVER THE MAXIMUM LIFE OF THE DEBT) SUCH DEBT TO BE ISSUED ONLY IF THE VOTERS APPROVE THE CLIMATE TAX IN BALLOT ISSUE 2A AND PAYABLE FROM THE CLIMATE TAX AND FROM OTHER LEGALLY AVAILABLE REVENUES AS DETERMINED BY COUNCIL; WITH THE PROCEEDS OF SUCH DEBT AND EARNINGS THEREON BEING USED FOR THE SAME PURPOSES AS THE CLIMATE TAX IN THE BALLOT ISSUE?

For the Measure ____
Against the Measure ____

Ordinance 8542 to refer Issues 2A and 2B to the voters
https://documents.bouldercolorado.gov/WebLink/DocView.aspx?id=179901&dbid=0&_ga=2.40372391.404892481.1665453032-181246305.1661276300