Authorize Bonds for Highway Projects
Colorado Ballot Measure - Proposition 109
Election: Nov. 6, 2018 (General)
Outcome: Failed
Categories:
InfrastructureGovernment Budget and Spending
Summary
Proposition 109 proposes amending the Colorado statutes to:
* require the state to borrow up to $3.5 billion in 2019 to fund up to 66 specific highway projects;
* direct the state to identify a source of funds to repay the borrowed amount without raising taxes or fees; and
* limit the total repayment amount, including principal and interest, to $5.2 billion over 20 years.
Measure Text
Shall state debt be increased $3,500,000,000, with a maximum repayment cost of $5,200,000,000, without raising taxes or fees, by a change to the Colorado revised statutes requiring the issuance of transportation revenue anticipation notes, and, in connection therewith, note proceeds shall be retained as a voter-approved revenue change and used exclusively to fund specified road and bridge expansion, construction, maintenance, and repair projects throughout the state?
Yes ( ) No ( )
Resources
Official Summary
Full Text
Source