TABOR Notice

TO ALL REGISTERED VOTERS
TOWN OF EAGLE
EAGLE COUNTY, COLORADO
NOTICE OF ELECTION TO INCREASE TAXES AND DEBT

Election by Mail Ballot
Deadline for receipt of ballots: April 5, 2016 7:00 p.m.

Local Election Official: Jenny Rakow, Designated Election Official
200 Broadway
Eagle, Colorado 81631
970-328-9623

Ballot title and text: Town of Eagle
Ballot Issue 1

SHALL THE TOWN OF EAGLE TAXES BE INCREASED BY $549,000 IN THE FIRST FULL FISCAL YEAR AND BY WHATEVER ADDITIONAL AMOUNTS ARE RAISED ANNUALLY THEREAFTER BY THE IMPOSITION OF A SALES TAX BEGINNING JULY 1, 2016 AT A RATE NOT TO EXCEED 0.5 PERCENT (OR FIVE CENTS ON EACH $10.00 PURCHASE), UNTIL JUNE 30, 2046 FOR THE PURPOSES OF PROTECTING AND ENHANCING QUALITY OF LIFE BY:  

ACQUIRING, DEVELOPING AND CONSTRUCTING A TOWN RIVER PARK THAT WILL IMPROVE AND CONSERVE NATURAL AREAS, OPEN SPACES  AND WILDLIFE HABITAT; PROTECT AND IMPROVE WATER QUALITY OF THE EAGLE RIVER; AND PROVIDE RECREATIONAL OPPORTUNITIES ON LAND AND IN THE RIVER, INCLUDING ENHANCED RIVER ACCESS AND WHITEWATER AMENITIES, 

IMPROVING, CONSTRUCTING, AND MAINTAINING THE TOWN’S PARKS, MULTI-USE RECREATIONAL FACILITIES, AND PAVED PATHS,

AND SHALL TOWN DEBT BE INCREASED UP TO $5,200,000.00, WITH A REPAYMENT COST OF NOT MORE THAN $9,975,000.00 BY THE ISSUANCE OF REVENUE BONDS PAYABLE FROM THE PROCEEDS OF SUCH TAX, WHICH BONDS SHALL BEAR INTEREST AT A MAXIMUM NET EFFECTIVE INTEREST RATE NOT TO EXCEED 5.1% PER ANNUM AND MATURE NO LATER THAN 30 YEARS FROM THE DATE OF ISSUANCE, BE SUBJECT TO REDEMPTION, WITH OR WITHOUT PREMIUM, AND BE ISSUED AT SUCH TIMES AND IN SUCH A MANNER AND CONTAINING SUCH TERMS, NOT INCONSISTENT HEREWITH, AS THE TOWN BOARD OF TRUSTEES MAY DETERMINE, WITH ALL EXPENDITURES SUBJECT TO AN INDEPENDENT AUDIT; AND SHALL THE TOWN BE AUTHORIZED TO COLLECT, RETAIN AND SPEND THE PROCEEDS OF SUCH BONDS AND REVENUES FROM SUCH TAXES AND ANY EARNINGS THEREON WITHOUT LIMITATION OR CONDITION AS A VOTER-APPROVED REVENUE CHANGE UNDER ARTICLE X, SECTION 20 OF THE COLORADO CONSTITUTION OR ANY OTHER LAW?

                        YES _______                    NO______

 
Total Town of Eagle Fiscal Year Spending:

Fiscal Year
2012 (audited) $4,546,290
2013 (audited) $4,454,422
2014 (audited) $4,422,071
2015 (unaudited) $5,078,433
2016 (estimated – without proposed tax increase) $5,093,523

Overall percentage change from 2012 to 2016 12.04%
Overall dollar change 2012 to 2016 $547,233

Proposed Tax Increase 

Estimated First Full Fiscal Year maximum Dollar Amount 
of Increase for Ballot Issue 1: $549,000

Estimated 2017 Fiscal Year Spending Without Proposed 
Tax Increase: $5,452,412

Summary of Written Comments in SUPPORT of Ballot Issue 1:

Ballot Issue 1 asks voters to increase sales tax by up to 0.5% (5 cents on a $10 purchase) to generate revenue for the design, construction and maintenance of a new Eagle River Park. In addition, revenue from the tax will be used to improve and maintain the Town’s existing parks, recreational facilities and paved paths.

Those in favor of a “yes” vote say:

The Eagle River Park will convert an existing tractor trailer truck parking lot into a sustainable, environmentally responsible public park for use by residents and visitors.

Improvement and better maintenance of existing Town parks will increase the quality of life for Town residents and will increase property values.

The Eagle River Park will include world-class white water features and a beach area in what is currently a degraded, unnatural river channel created by the construction of I-70.  The improvements will also improve water quality and river access, remove safety hazards, benefit fish habitat and stabilize the river bank.

The River Park will be an exceptional and unique amenity that will distinguish Eagle from other communities.  The Town’s economy will benefit from increased visitor spending and opportunities for new and existing businesses.  The Park’s visibility from I-70 will encourage travelers to stop and spend time in Eagle.   

It is estimated that approximately 60% of the sales tax will be paid by non-Town of Eagle residents. The anticipated cost of the tax per year for the median income household is estimated to be approximately $55.

Other communities, including Salida, Buena Vista, and Golden have proven that dynamic, vibrant communities flourish near rivers when the right conditions exist. Those conditions include opening the river to the public and providing amenities such parks, trails, beaches, and white water features. Passage of Ballot Issue 1 will allow the Town to do just that.

Summary of Written Comments in OPPOSITION of Ballot Issue 1:

No comments were filed by the constitutional deadline. 

I hereby certify that this is all the notices for Town of Eagle pursuant to Article X, Section 20 of the Colorado Constitution. 

 
Jenny Rakow
Town Clerk