Ballot questions are sometimes confusing. So I want to provide you with more details about Boulder Citys upcoming ballot question.
Boulder City Question No. 1 seeks permission for the city to use capital improvement fund money, as it becomes available, to pay down the citys raw water line debt. To understand the purpose of this request, its important to first understand not only the raw water line debt but also the citys financial plan and how the capital improvement fund works.
The raw water line was constructed in 2001 to increase water delivery capacity necessitated by increased demand. In 2006, the city refinanced the raw water line debt in the principal amount of $33,470,000 with a variable interest rate between 4.25 and 5 percent.
In …
Read the full article at: http://bouldercityreview.com/opinion/city-needs-voters-help-free-funds-pay-debt-save-millions
