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<br />NOTICE TO ALL REGISTERED VOTERS h~- <br />OF THE TOWN OF SILT, COLORADO ) <br />NOTICE OF ELECTION TO INCREASE DEBT, <br /> <br />Total Town Fiscal Year Spending: <br />1994(estimate) 1993 1992 <br />$877,299 $880,986 $894,413 <br /> <br />1991 <br />$651,162 <br /> <br />1990 <br />$608,283 <br /> <br />Overall percentage change from 1990 to 1994: <br />Overall dollar change from 1990 to 1994: <br /> <br />31.0\ <br />$269,016 <br /> <br />Information on Proposed Town Bonded Debt and current bonded debt: <br />There are no outstanding bonded debts to the Town of Silt. <br /> <br />Information on other debts: The Town of Silt existing long term <br />debt in water/sewer fund has remaining principal o~ $231,386, 5\ <br />interest, annual payments of $23,009 to 1996, $15,15i[JP"llfD <br /> <br />TOWN OF SILT BALLOT TITLE AND TEXT - BALLOT OUE~~ <br /> <br />SHALL THE TOWN OF SILT DEBT BE INCREASED BY UP!!E']tIiEL <br />A REPAYMENT COST OF UP TO $1,057,000.00, BY THE CE N .c <br />OBLIGATION BONDS FOR THE INSTALLATION AN. ... 0 T T <br />SUPPORTING FACILITIES FOR AN UNDERGROUND, LOW-PRESSURE IRRIGATION <br />SYSTEM, SAID BONDS TO BE PAID FROM ALL FUNDS AVAILABLE TO THE TOWN, <br />BUT NOT FROM PROPERTY TAX INCREASE; TO MATURE NO LATER THAN THIRTY <br />(30) YEARS FROM THE DATE OF ISSUE, TO BEAR INTEREST AT RATES NOT TO <br />EXCEED EIGHT PERCENT (8%) PER ANNUM, AND TO HAVE SUCH OTHER TERMS, <br />CONDITIONS, COVENANTS AND' DETAILS AS THE TOWN COUNCIL MAY <br />DETERMINE, INCLUDING THE OPTION TO REDEMPTION OF THE BONDS PRIOR TO <br />MATURITY WITH OR WITHOUT THE PAYMENT OF A PREMIUM; AND, IN <br />CONNECTION THEREWITH SHALL THE TOWN BE AUTHORIZED TO RECEIVE AND <br />SPEND THE PROCEEDS OF SAID BONDS NOTWITHSTANDING ANY REVENUE OR <br />EXPENDITURE LIMITATIONS UNDER ARTICLE X, SECTION 20 OF THE COLORADO <br />CONSTITUTION 'OR ANY OTHER LAW? <br /> <br />TO THE CITIZENS OF SILT <br /> <br />SUMMARY OF STATEMENTS IN FAVOR OF BALLOT QUESTION 2-A: The present <br />Silt water treatment system will not be able to continue to furnish <br />domestic water at the rate the Silt residents are presently <br />accustomed to.' The To.wn of Silt is continuing to search every <br />avenue to obtain funds . necessary to install and maintain the <br />underground, low-pressure, untreated irrigation system to augment <br />the treated water. This ballot question asks the voters for <br />permission to borrow money for that purpose, This debt increase <br />will not be paid by taxes and its monthly payments will not exceed <br />$35,230. It is also a requirement to be able to receive a $175,000 <br />grant already offered by the Colorado Department of Local Affairs.' <br />Funds received by any such loans permitted would be for the pu~pose <br />of supplementing the 1\ Use Tax increase passed in the April, 1994 <br />municipal election for the underground irrigation system. This. <br />irrigation system would make it possible for individual homeowners <br />to water their lawns and' gardens with untreated water at a much <br />reduced rate than what they are now paying for treated water to <br />irrigate. At the same time, the domestic water system would be <br />able to meet the 'demands made upon it by a growing community, <br /> <br />SUMMARY OF STATEMENTS AGAINST BALLOT QUESTION 2-A: No statements <br />against this question were received. <br /> <br />Silt Town Clerk, Charlene Springsteel <br /> <br />.. <br />