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Council Places Bonding Issue on November Ballot

  • Published
  • Updated
  • by City Manager

(Arvada, CO) –  At their August 27 meeting, the Arvada City Council voted unanimously (7 – 0) to place the following issue on the November 2018 ballot:

WITHOUT IMPOSING ANY NEW TAX OR INCREASING ANY TAX RATE, SHALL CITY OF ARVADA DEBT BE INCREASED UP TO $79.8 MILLION WITH A REPAYMENT COST OF UP TO $125 MILLION, SUBJECT TO THE FOLLOWING LIMITATIONS AND FOR THE FOLLOWING PURPOSES:

IMPROVING PEDESTRIAN SAFETY BY ENHANCING INTERSECTIONS, SIDEWALKS AND CROSSWALKS, AND IMPROVING DRIVER SAFETY BY EASING TRAFFIC CONGESTION ALONG MAJOR EAST-WEST ROADS IN THE CITY, SPECIFICALLY RALSTON ROAD BETWEEN YUKON AND GARRISON STREETS, AND ON 72ND AVENUE BETWEEN KIPLING AND SIMMS STREETS;

PROVIDED THAT THE EXPENDITURE OF PROCEEDS WILL BE MONITORED BY A COUNCIL APPOINTED OVERSIGHT COMMITTEE OF RESIDENTS, AND SUCH EXPENDITURES WILL BE REPORTED IN THE CITY’S INDEPENDENT AUDIT PUBLISHED ON THE CITY’S WEB SITE AN NO PROCEEDS MAY BE USED FOR CITY ADMINISTRATION.

You may download the following documents related to the issue:

  • Staff Report/Resolution R18-091, a Resolution Submitting a Ballot Question to the Electors of the City Regarding the Issuance of City of Arvada Bonds in an Amount of $79.8 Million With a Repayment Cost of Up to $125 Million With No Increase in Taxes.  Staff Report/Resolution R18-091
  • Presentation outlining public outreach efforts.  Public Outreach

For more information on the safety and traffic congestion mitigation projects and the project financials, plus an extensive list of FAQs, visit arvada.org/two-big-projects-no-new-taxes.