HomeMy WebLinkAbout992425.tiff RESOLUTION
RE: ENDORSEMENT OF SUPPORT FOR REFERENDUM A(TRANS)
WHEREAS, the Board of County Commissioners of Weld County, Colorado, pursuant to
Colorado statute and the Weld County Home Rule Charter, is vested with the authority of
administering the affairs of Weld County, Colorado, and
WHEREAS, rapid growth in Colorado has prompted new and ever increasing uses of
public highways, roads, and other transportation infrastructure, and the existing transportation
infrastructure of this state cannot accommodate such greatly increased uses, and
WHEREAS, in an attempt to address this concern, the State has significantly increased
the amount of State revenues in recent years to fund critical, priority transportation
infrastructure needs, but the current transportation funding mechanism does not provide
adequate revenues to keep pace with the increasing demands on infrastructure statewide, and
WHEREAS, Governor Bill Owens has proposed, and the Colorado General Assembly
has approved, voter consideration for Transportation Revenue Anticipation Notes (TRANS) to
accelerate completion of 24 high priority state transportation projects, which have statewide
benefit by borrowing against anticipated federal highway revenues, and
WHEREAS, by utilizing revenue anticipation notes for the financing of transportation
projects that may be financed in whole or in part with federal transportation funds, a significant
amount of up-front revenues can be generated for such federal aid transportation projects,
which will enable the State to design and construct such transportation projects without using
revenue available for other important transportation projects, and
WHEREAS, the proceeds of any transportation revenue anticipation notes are not
included in the State fiscal year spending purposes of Section 20 of Article X of the Colorado
Constitution and Article 77 of Title 24, Colorado Revised Statutes, and
WHEREAS, the TRANS ballot question (Referendum A) would allow the State to save
money by building projects in larger segments and would result in avoided construction inflation
costs which are projected to more than offset the interest on the bonds, and
WHEREAS, the TRANS bonds are in the interest of the entire State, not just a portion
thereof, and
WHEREAS, TRANS will be only one of several funding mechanisms for meeting
Colorado transportation needs, and
WHEREAS, upon successful passage of the ballot question, the Colorado
Transportation Commission will authorize an increase in funding dedicated to surface treatment
and regional priorities, and
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ENDORSEMENT OF SUPPORT FOR REFERENDUM A (TRANS)
PAGE 2
WHEREAS, successful passage of the ballot question has the potential of increasing
the ability of the Colorado Department of Transportation to fund additional priority transportation
projects, and
WHEREAS, pursuant to Section 1-45-117(1)(b)(III(A), C.R.S., the Board is authorized to
pass a resolution or take a position of advocacy on any referred measure such as the TRANS
ballot question (Referendum A).
NOW, THEREFORE, BE IT RESOLVED by the Board of County Commissioners of
Weld County, Colorado, that the Board hereby endorses the use of Transportation Revenue
Anticipation Notes (TRANS) to accelerate completion of high priority state highway projects and
endorses the ballot issue, known as Referendum A, to be presented to the electorate at the
statewide election to be held November 2, 1999.
BE IT FURTHER RESOLVED by the Board of County Commissioners that it calls upon
the Governor and the Legislature to identify and provide additional sources of State revenue,
especially from State surplus revenue, which would include proportional sharing with counties
and municipalities, in order to address the demands due to growth on both the State and local
transportation systems.
The above and foregoing Resolution was, on motion duly made and seconded, adopted
by the following vote on the 4th day of October, A.D., 1999.
BOARD OF COUNTY COMMISSIONERS
WELD COUNTY, COLORADO
LA
ATTEST: 4.4/ � �� 4' _ ' ' tXCUSED DATE OF SIGNING AYE
7 1Bar ( . .. /I Hall, Chair
Weld County Clerk to the gar ' =1 �?4CP
Wit- / ( Barbara . Kirkmeyer, P .-Tem /
Deputy Clerk to the Board
eorge E. er
.77
c APPRO AS TO FORM:
_ M. J. i eile
o ty Attorney 1i°C1
Glenn Vail-
992425
BC0027
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