What it says: “Shall City of Lafayette debt be increased $74 million, with a repayment cost not to exceed $120 million (principal and interest), for the following purposes:
Renovating and expanding the Bob L. Burger Recreation Center, including enhanced and expanded aquatics amenities, expanded space for fitness and older adults services, and programming for community members of all ages; Constructing a new Civic Center to replace the existing City Hall, to provide more accessible public services, municipal court, community spaces, and space to support city services; Renovating and repairing the existing Parks/Public Works Service Center to improve the efficiency, delivery, and sustainability of key city services, including snow plowing, utility repairs, and maintenance of our parks, streets, and open spaces. And shall city property taxes be increased not more than $6 million annually to pay such debt, and shall the mill levy be imposed in any year without limitation as to rate but only in an amount sufficient to pay the principal of, premium, if any, and interest on such debt or any refunding debt (or to create a reserve for such payment); such debt to be evidenced by the issuance of general obligation bonds to be sold in one series or more, for a price above or below the principal amount of such series, on terms and conditions and with such maturities as permitted by law, including provisions for redemption of the bonds prior to maturity with or without payment of premium not to exceed one percent; and shall the proceeds of such debt, refunding debt, and reserves and the revenues from such taxes and any investment income earned from such proceeds and revenues be collected and spent without limitation or condition as a voter-approved revenue change and an exception to the limits that would otherwise apply under Article X, Section 20 of the Colorado Constitution or any other law?”
What it means: The city of Lafayette is asking for voters to approve a $74 million increase to its debt — which would be repaid through higher property taxes — to upgrade the rec center, build a new city hall and improve public works facilities. The city is estimating that for a home valued at $500,000, the monthly increase would be just over $16 per month for an annual increase of $197 per year, according to a spokesperson…