HomeMy WebLinkAboutresolution.council.074-99 RESOLUTION NO. 74
(Series of 1999)
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF ASPEN, COLORADO,
FIXING A BALLOT TITLE FOR AN INITIATIVE PETITION AND BALLOT
MEASURE AND SUBMITTING SAID BALLOT TITLE TO THE ELECTORATE OF
THE CITY OF ASPEN AT THE NOVEMBER 2, 1999, MLrNICIPAL ELECTION.
WHEREAS, THE City Clerk of the City of Aspen has determined that a certain
initiative petition is sufficient within the meaning of Article 5 of the Aspen City Charter;
and
WHEREAS, after due deliberation and review, the City Council has decided to not
adopt the initiative petition as its own in accordance with Section 5.4 of the Aspen City
Charter; and
WHEREAS, the Aspen City Charter requires the City Council to submit any such
initiated measure to the electors of the City of Aspen.
NOW, THEREFORE. BE IT RESOLVED BY THE CITY COUNCIL OF THE
CITY OF ASPEN, COLORADO, THAT:
Section 1.
The following ballot title shall be placed on the ballot at the City's special election
to be held on November 2, 1999:
CITY OF ASPEN QUESTION NO. --- - A CITIZEN INITIATED BALLOT
QUESTION TO AUTHORIZE AN INCREASE IN CITY DEBT FOR A LIGHT RAIL
PROJECT.
SHALL CITY OF ASPEN DEBT BE INCREASED BY AN AMOUNT NOT TO
EXCEED $20,000,000 WITH A MAXIMUM REPAYMENT COST OF $45,000,000
(BUT WITH NO INCREASE IN THE CITY'S EXISTING TAXES) FOR THE PURPOSE
OF CONTRIBUTING TO THE CONSTRUCTION OF A LIGHT RAIL
TRANSPORTATION SYSTEM GIVEN:
A. THE CONCEPTUAL DESIGN AND ENVIRONMENTAL CLEAKANCES
CONTAINED IN THE FINAL ENVIRONMENTAL IMPACT STATEMENT,
AND CONFIRMED IN THE COLORADO DEPARTMENT OF
TRANSPORTATION AND FEDERAL HIGHWAY ADMINISTRATION
RECORD OF DECISION FOR THE ENTRANCE TO ASPEN, PITKIN
COUNTY COLORADO, PROJECT STA 082A-008;
B. THAT SAID LIGHT RAIL SYSTEM WOULD EXTEND FROM THE CITY
OF ASPEN TO THE PITKIN COUNTY AIRPORT AREA AS IDENTIFIED
IN THE ENTRANCE TO ASPEN RECORD OF DECISION;
C. THAT PASSAGE OF THIS DEBT AUTHORIZATION WILL ONLY
RESULT IN CONSTRUCTION OF A LIGHT RAIL SYSTEM IN THE
EVENT THAT ISSUANCE OF UP TO $36,000,000 IN SALES TAX
REVENUE BONDS ARE APPROVED THROUGH PASSAGE OF A PITKIN
COUNTY DEBT AUTHORIZATION REFERENDUM, WHICH
REFERENDUM MAY ALSO APPROVE EXTENSION OF INITIAL LIGHT
RAIL CONSTRUCTION FROM THE PITKIN COUNTY AIRPORT AREA
TO THE INTERSECTION OF BRUSH CREEK ROAD AND HIGHWAY 82;
D. AND THAT DEFEAT OF THIS DEBT AUTHORIZATION, OR LACK OF
APPROVAL OF THE DEBT AUTHORIZATION REQUIRED FROM
PITKIN COUNTY, WILL RESULT IN THE INITIAL CONSTRUCTION OF
THE PHASED MODIFIED DIRECT ALTERNATIVE, AS DESCRIBED IN
THE DRAFT SUPPLEMENTAL ENVIRONMENTAL IMPACT
STATEMENT, AND CONFIRMED IN THE ABOVE IDENTIFIED RECORD
OF DECISION, CONSISTING OF THE DEVELOPMENT OF PHASED
EXCLUSIVE BUS LANES ON THE SAME ALIGNMENT APPROVED FOR
CONSTRUCTION OF AN EVENTUAL LIGHT RAIL TRANSPORTATION
SYSTEM;
SAID LIGHT RAIL SYSTEM BEING INTENDED TO SERVE AS THE FIRST
SECTION OF AN EVENTUAL VALLEY WIDE RAIL PROJECT, AND FUNDING
HEREBY APPROVED ACTING AS PART OF THE MANDATORY LOCAL MATCH
FOR FEDERAL FUNDING FOR THE LARGER SYSTEM;
PROCEEDS OBTAINED FROM THIS DEBT AUTHORIZATION SHALL, TO THE
GREATEST EXTENT POSSIBLE, BE SUPPLEMENTED BY ADDITIONAL
FEDERAL, STATE, REGIONAL, COUNTY AND PRIVATE FUNDING;
SUCH DEBT TO CONSIST OF THE ISSUANCE AND PAYMENT OF REVENUE
BONDS, PAYABLE FROM THE CITY OF ASPEN'S PARKING REVENUE AND
GENERAL FUND, WHICH BONDS SHALL BEAR INTEREST AND MATURE, BE
SUBJECT TO REDEMPTION, WITH OR WITHOUT A PREMIUM, AND BE ISSUED,
DATED, AND SOLD, AT SUCH TIME OR TIMES, AT SUCH PRICES (AT, ABOVE,
OR BELOW PAR) AND IN SUCH A MANNER AND CONTAINING SUCH TERMS,
NOT INCONSISTENT HEREWITH, AS THE CITY COUNCIL MAY DETERMINE,
AND SHALL ANY EARNINGS (REGARDLESS OF AMOUNT) FROM THE
INVESTMENT OF THE PROCEEDS OF SUCH BONDS CONSTITUTE A VOTER
APPROVED REVENUE CHANGE?
INTRODUCED, READ AND ADOPTED by the City Cotmcil of the City of Aspen on
the ~-~ day of ~. (,c~, 1999.
Richards, Mayo -x
I, Kathryn S. Koch, duly appointed and acting City Clerk do certify that the foregoing is a
true and accurate copy of that resolution adopted by the City Council of the City of Aspen,
Colorado, at a meeting held on the day hereinabove stated.
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