Boulder County election: Issue 1C

Bond authorization for energy conservation projects

What the question asks: Shall Boulder County debt be increased by up to $6,100,000, with a maximum repayment cost of up to $8,000,000, with no increase in any county tax or tax rate, for the purpose of financing energy conservation in county buildings and other county property, by the issuance of bonds payable from moneys transferred from the county’s general fund and other legally available funds to the capital improvement trust fund to be established in connection with such bonds, which bonds shall bear interest, mature, be subject to redemption, with or without premium, and be issued, dated and sold at such time or times, at such prices (at, above or below par) and in such manner and containing such other terms, not inconsistent herewith, as the Board of County Commissioners may determine; shall the county be authorized, in order to provide for the payment of such bonds, to enter into a multiple-fiscal year obligation to transfer moneys from the general fund and other legally available funds to the debt service on such bonds and to otherwise comply with the covenants of the resolutions or other instruments governing such bonds; and shall the earnings on the investment of the proceeds of such bonds, regardless of amount, constitute a voter-approved revenue change; all in accordance with Board of County Commissioners’ resolution No. 2009-102?

What it means: Should Boulder County be allowed to sell $6.1 million in bonds to finance energy-efficiency upgrades to county-owned buildings? The bonds are backed by the federal government under a provision of the American Recovery and Reinvestment Act and have a 0 percent interest rate, though fees and administrative costs will equal about 1 percent a year. This issue would not increase county taxes.

What supporters say: This investment will be cash positive over the long run, and may even save the county more money than it spends in the first year. Some of the money would likely be used to add solar panels, a biomass heating system and a reflective roof, among other improvements, to the county jail, cutting its $250,000 utility bill in half. Other buildings that would likely get upgrades include the justice center and the new sheriff’s headquarters.

What opponents say: There is no organized opposition to this issue.