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<br />00 ))1{) <br /> <br />NDATION: <br /> <br />.T OUTDOORS COLORADO BOND <br /> <br />J-"....- <br />tf..-inlpl'J<>:l'Cl <br />Pc U ~ <br />De"ve, ~CrwI<Comdur <br />Pc g-'''''~'. <br />~c.- .~,_ <br />1IiiOi ~J'_. ~~ <br />-Pr U l,_P.::.o..Pnl)o<I-1+ <br />~ . <br />'" * ," <br />v ,_ <br />r?''''''-.O.....9.... <br />Pc " ., <br />El.tf ~ <br />~~"" . 0 * <br />1-1<~( <br />....~ <br /> <br />Bookle. <br /> <br />Pc <br /> <br />-1+0~ <br />. Q ~ <br />$, V.....Cmrub' <br /> <br />,,~ <br />Gilpin <br /> <br /> <br />~ . <br /><>* <br /> <br />. <br /> <br />the ranch :-'lost Ukel)'. the heirs \..ill <br />be forced to sell to developers - even <br />if they 'Viant to preserve It as open <br />space. <br /> <br />Allowing COCO to Issue bonds _ <br />take out a loan. in essence - for S8 <br />million to combine with local funding <br />will allow the ranch to be s.aved <br />before it mUSl be sold GOCO could <br />repay the bonds o\"er a number of <br />years using a ponlon of its annual <br />revenue <br /> <br />. <br /> <br />Bondmg proceeds could also be <br />used for the purchase of COTl5erva(\on <br />easements on land, a preservation <br />method increasingly favored by <br />COCO and local conservation <br />agencies. In the abo..;e example. <br />COCO may purchase the development <br />rights for less man the prtce of fee <br /> <br />Act.ma <br /> <br />. <br /> <br />0* <br /> <br />......... <br /> <br />u (, <br /> <br />. <br /> <br />Q * <br /> <br />title acquisition This may help the <br />heirs pay their federal eSlate tax <br />liability but remaln on the land as <br />ranchers. <br /> <br />The Commission recommends <br />that any potential bonding aulhonty <br />for COCO must Include an extension <br />of the loltery Furthermore, the <br />gra."1ting of bonding authority for <br />COCO must be approved by a VOte of <br />the people. Citizens wUl decide, as <br />they did in 1999 regarding Mate road <br />proJects, if they want to bond or <br />continue on a pay-as-you-go basis to <br />fund open space projects Vaters in <br />many ]ocal Jurisdlctlons, Including <br />fast growing areas like Jefferson <br />Coumy and Douglas County, recently <br />approved bonding far their ]ocal <br />open space protection efforts <br /> <br />9 <br />~ <br /> <br />LEG END <br /> <br />. <br />"i+ <br />fj <br />\\ <br />.. <br />V <br />~ <br /> <br />"""'-- <br /> <br />Local w.emment Pari<s & Rettea1ion <br /> <br />CoIoritdoStal"'P8rl<s <br /> <br />Colorado DMslon of Wi1dllf.. <br /> <br />"",os,.... <br />f'Mnnlng&CapaolyBulldlng <br />T.... <br /> <br />lnodd'~lOlheproj~oho-.ho.....u.. <br />Colonda WRland> "-mtr... .nd </'Ie Pr/QritJ <br />tar.<:~L~.,l'rojecu,ijfllor,'*'I:VId <br />Upu,,", IluiIdi"tpt'(lject3.S9 CoIondc> State <br />I"onc$P"Oj<<U.8'90;.,.;,;""ofWildio'eprojKt$. <br />10 T~I P"'!"""" 3 open 'p"C'e p,"*= and i <br />loc.lt"""rn_ p">iects~enefot"'ultopl. <br />CI:>IJnOft.M'",oI.",.cwidcsi~, <br /> <br />coco currently receives 540 <br />mtJ1!on In annual revenue from the <br />state lottery This revenue must be <br />divided between four areas state <br />parks. local land preservation, <br />\\ildli!e and open space, The <br />Commission recommends the <br />Introd:,JcUon of legislation that places <br />a referendum on the stalewlde ballot <br />that gives COCO the authOrlty to <br />Incur multt-year fiscal obligations <br />(bonds) ,,' <br />