I promised I would do it. And I will. In fact I am right now!
Ok, but first, my disclaimer: I don't give a rat's whisker whom you vote for, just INFORM YOURSELF and vote for (or AGAINST) something you truly believe in!
Now, to the meat of the issue- why I don't support Amendments 60 and 61, and Proposition 101....
I truly believe that Amendments 60, 61 and Proposition 101 could effectively KILL Colorado's infrastructure and economy, so I am voting NO.
The Breakdown on 61:
Provisions and Potential Impacts
- Redefines government debt to include certificates of participation, lease-purchase agreements, loans and other forms of financing and borrowing.
- Allows only more expensive forms and methods of financing capital construction.
- Local governments must seek voter approval for all forms of debt.
- Eliminates many opportunities to utilize state and federal finance assistance.
- Prohibits state debt.
- Limits the amount of local government debt beyond existing restrictions.
- Takes away decision making power of Colorado voters to finance state infrastructure improvements.
- Requires current debt to be paid.
- Coverts existing flexible financing mechanisms (i.e lease purchases) into mandatory debt.
- After debt repayment, tax rates must decline by equal amount- whether debt was repaid by tax dollars or other revenues.
- Causes retirement of some existing debt to create revenue shortfalls.
The next installment will be about Proposition 101.
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