Vail Rec District, Referendums 5A and 5B |

Vail Rec District, Referendums 5A and 5B

Two separate referendums will be on the ballot for voters in Vail.

The Vail Recreation District is seeking funds to rebuild the clubhouse and Nordic center at the Vail golf course as well as money for operating costs, equipment and maintenance.

For the clubhouse, the rec board is seeking authorization from voters to issue a $6 million bond. That bond will be repaid by an increase in property taxes.

To raise funds for operating costs, the rec district wants to increase property taxes by $915,000 per year. The tax increase translates to $137 per million dollars of home value.

The clubhouse was built in the 1960s and is completely non-compliant with the Americans with Disabilities Act, and has recently been ordered by the U.S. Department of Justice to get in line with the law.

Beyond that, golf course revenue has fallen from $1.4 million in 1999 to just more than $700,000 in 2003, and receipts are expected to fall another $100,000 this year. Stein said a new building, visible from Interstate 70, could serve as a kind of billboard to draw potential customers off the highway and into town.

The district’s tennis facilities face crumbling foundations and failing water systems on the clay courts. Just the cost of water system repairs is $50,000 per bank of courts, rec district Dennis Stein said.

At the golf course, some bridges won’t accommodate the grooming machines for Nordic skiing, meaning large areas of the property can’t be groomed.

Vail Recreation District Ballot issues — 5 A

Shall Vail Park and Recreation District taxes be increased $915,953 annually in the first full fiscal year, or by such amount as may be raised by the imposition of an additional ad valorem property tax rate of 1.713 mills, commencing with the collection year beginning January 1, 2005, and continuing thereafter, for general operating purposes including:

– Develop and fund a capital improvement and equipment replacement program.

– Develop a positive cash flow to avoid annually issuing tax anticipation notes and lease purchase obligations.

– Fund the intergovernmental commitments for golf course, Red Sandstone Gynmastics Center, water conservation and irrigation improvements.

– Fund the implementation of federally mandated Americans with Disabilities Act requirements.

– Allow enterprise fund operations to retain its revenues for reinvestment in the enterprise operation, and other operations to be upgraded to preserve the investment to date.

Resulting in a total district operating mill levy rate not to exceed 5 mills, exclusive of refunds, abatements, and debt service; and shall the district be authorized to collect, retain and spend all tax revenue collected from such total property tax rate, and all other revenue received from any source commencing January 1, 2005, and continuing thereafter, as a voter-approved revenue change, offset and exception to the limits which would otherwise apply under Article X, Section 20 of the Colorado Constitution, or any other law, and as a permanent waiver of the 5.5 percent limitation under section 29-1-301 CRS (Colorado Revised Statutes)?

5 B

Shall Vail Park and Recreation District debt be increased $6,000,000, with a repayment cost of $14,500,000 and shall district taxes be increased $700,000 annually or such lesser amount as may be necessary to provide for the payment of such debt and any refundings thereof; such debt to be issued for the purpose of providing capital improvements to district facilities, including but not limited to acquiring, constructing, improving and equipping;

– a new golf/Nordic clubhouse

– Two bridge replacements

– Nordic snow grooming equipment

– ADA accessibility requirements;

and all other necessary, incidental, appurtenant, and convenient facilities and equipment, land and property rights, together with extensions of and improvements to such facilities, within and without the boundaries of the district; and shall the mill levy be increased in any year without limitation as to rate or amount, to pay the principal or, premium, if any, and interest on such debt (or to create a reserve fund for such payment) such debt to be evidenced by loans, bonds, or other forms of indebtedness including loans, bonds, or other, including loans, bonds, or other forms of indebtedness issued to refund such debt as may be issued in the discretion of the board of directors of the district, bearing interest at a maximum net effective interest rate not to exceed 7.5 percent; such debt to be sold in one series or more at a price above, below or equal to the principal amount of such debt and on such terms and conditions and with such maturities as permitted bylaw and as the board of directors of the district may determine, including provisions for redemption of premium of not more than three percent; and shall proceeds of such debt and the revenues from such taxes and any earnings from the investment of such debt proceeds and tax revenues be collected and spent as a voter-approved revenue change under article X, section 20 of the Colorado Constitution or any other law?

Vail Colorado

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