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<br />sf''\" . <br />(=:.'\ NOTICE TO ALL RJ::GISTERJ::D VOTERS t. _ -- <br />OF THE TOWN OF SILT, COLORADO <br />NOTICE OF ELECTIOH 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 />Ov~rall 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 Silta <br /> <br />Information on other debts: Tbe Town of Silt existing long term <br />debt in water/sewer fund has remaining principal of $231,386, 5% <br />interest, annual payments of $23,009 to 1996, $15,156 until paid. <br /> <br />TOWN OF SILT BALLOT TITLE AND TEXT - BALLOT OUESTION 2-A <br /> <br />SHALL THE TOWN OF SILT DEBT BE INCREASED BY UP'TO $400,000.00 WITH <br />A REPAYMENT COST OF UP TO $1,057,000.00, BY TlIE ISSUANCE OF GENERAL <br />OBLIGATION BONDS FOR THE INSTALLATION AND CONSTRUCTION OF <br />SUPPORTING FACILITIES FOR AN UNDERGROUND, LOW-PRESSURE IRRIGATION <br />SYSTEM, SAID BONDS TO BE PAID FROM ALL FUNDS AVAILABLE TO THE TOW, <br />BUT NOT FROM PROPERTY TAX INCREASE; TO MATURE NO LATER TBAH THIRTY <br />(30) YEARS FROM THE DATE OF ISSUE, TO BEAR INTEREST AT RATES NOT TO <br />EXCEED EIGHT PERCENT (8%) PER AHHUM, AND TO HAVE SUCH OTHER TERMS, <br />CONDITIONS, COVENANTS AND' DETAILS AS THE TOW 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 NOTWITlISTANDING ANY REVEIIUE OR <br />EXPENDITURE LIMITATIONS UNDER ARTICLE X, SECTION 20 OF THE COLORADO <br />CONSTITUTION 'OR ANY OTllER LAW? <br /> <br />TO THE CITIZgNS OF SILT <br /> <br />SUMMARY OF STATEMENTS IN FAVOR OF llALLOT OUESTION 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 Town 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 ~onthly 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 p6rmitted 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 pow 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 OUEST ION 2-A: No statements <br />against this question were received. <br /> <br />Silt Town Clerk, Charlene Springsteel <br /> <br />. <br /> <br />:..: <br />