HomeMy WebLinkAbout1990-22 Opposing Proposed Amendment No. 1 of the Colorado Constitutions
RESOLUTION #22
Series of 1990
A RESOLUTION OPPOSING PROPOSED AMENDMENT #1 OF THE
COLORADO CONSTITUTION.
WHEREAS, the proposed Amendment #1 to the Colorado Constitution wi11 be
submitted to the voters at the General Election on November 6, 1990; and
WHEREAS, Amendment #1 will impose severe limitations on the ability of the Town
of Vail to raise existing or new revenues related to any tax, license, permit or fee
to provide needed services; and
WHEREAS, Amendment #1 will impose severe limitations on the ability of the Town
of Vail to issue all types of debt related to General Obligation Bonds, short term
borrowing, lease purchasing, or debt refinancing; and
WHEREAS, Amendment #1 will cause many service level reductions in the Town which
heretofore have been desired and/ar mandated by the citizens of the Town; and
WHEREAS, the Town Charter and the Town Ordinances adopted by the citizens of the
Town of Vail contain reasonable and practical provisions for the self-government of
Vail by its citizens and elected Town Officials; and
WHEREAS, Amendment #1 creates a state-wide approach to taxation and fails to
recognize special local needs or the desires of the citizens of the Town of Vail;
and
WHEREAS, Amendment #1 undermines local control, threatens continuation of
current services, and impairs the ability of the Town to respond quitk1y and
effectively to find solutions to problems affecting the Town; and
WHEREAS, Amendment #1 requires the Town to set aside emergency reserves from
fiscal year spending of one percent (1°/°} in 1991, two percent (2%) in 1992 and three
percent (3%) in 1993 and each year thereafter; and
WHEREAS, emergency reserves can be spent only for declared emergencies which
exclude economic conditions and revenue shortfalls; and
WHEREAS, the amount of emergency reserve for 1991 is $295,000.00 and the
estimate for 1993 is $1,000,000.00; and
WHEREAS, Amendment #1 will have an adverse affect on the Town's bond rating thus
increasing the cast of borrowing funds for further growth; and
WHEREAS, Amendment #1 will decrease the Town's revenue generated from property
taxes over a ten year period; and
WHEREAS, the total reduction in property taxes for Eagle County provided by
Amendment #1 is $53,271,677.00 over a ten year period.
NOW, THEREFORE, BE IT RESOLVED BY THE TOWN COUNCIL OF THE TOWN OF VAIL,
COLORADO:
The Town Council hereby sets forth its strong opposition of proposed Amendment #1 of
the Colorado Constitution and urges all registered voters to reject Amendment #1 at
the General Election on November 6, 1990.
INTRODUCED, READ, APPROVED AND ADOPTED THIS ~~~ DAY OF OCTOBER, 1990.
Kent R. Rose, Mayor `
ATTEST:
Pamela A. 8randmeyer,~Town Clerk