Quote:
Originally Posted by TakeFive
So, as long as it's "different" then? mm... k
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Well if you'd like the full details, I'll use my train time for that. Any ballot question in Colorado is subject to a constitutional single subject rule. Also, TABOR ballot questions generally come in two flavors - tax questions, and debt questions. A debt question will usually include a tax increase (but not always), but that increase is usually tied to the tax needed to discharge the debt. That's the case for RTD Fastracks, if I'm not mistaken. Apart from a small portion of the tax increase that's needed for O&M on the new stuff, I believe most of that tax will go away after the bonds are discharged, unless extended by the voters. (Same as the stadium questions.) We simply wouldn't do a gas tax increase that way - where it is tied to specific bonds for specific projects. You'd want the ability to cash flow with it, maintain things with it, etc. I can't say for certain - there's an art to these ballot questions - but if you tried to combine a general gas tax increase with a bonding question, I believe you'd run up against the single subject rule. (And if you didn't, you'd certainly be exposed to litigation risk - both up front, and at the time the bonds were paid off, when somebody would say the tax would have to sunset.) We just wouldn't do it that way would be my guess. We'd vote the tax and debt questions separate, and try and use the latter to sell the former (although it could easily go the other way).
It's a problem I'd love to get to toy with. (And I probably would get to.) I'm just not holding my breath is all.