Initiative 1

DEBT LIMITATION

(Initiative Question #1)

 

 

With the passage of this question, any issue requiring the city to go into debt for $1 million or more could only be approved by a vote of the people.

 

The creation of Boulder Creek Golf Course, which put the city in debt at that time for $22 million, was never approved by the voters.

 

If you were to think about taking on a sizeable debt that could affect your family’s lifestyle, wouldn’t you ask your family about it rather than keep it a secret until after it’s done?

 

It’s only prudent that voters should have their opinions heard and followed when an issue is going to impact the city budget for many years.

 

As it is, the city budget is in dire straits right now, yet the city council still retains the authority to create more debt for the city, thereby creating an unnecessary need for revenue that it does not have.         

          (In fact, state law allows the Council to incur $10 million in new debt before seeking a vote of the people.)

          The General Fund and Utility Fund subsidies of over $2 million a year for the Boulder Creek Golf Course – money taken away from other services and programs in the city -- is an example of how such non-voter approved debt affects the budget – and you.

 

Councilman Walker stated at the May 14, 2008 Finance Advisory Committee meeting that  “…the city has three major debt obligations, which include the third straw, the golf course, and the raw water line that total approximately $100 million.” 

          None of these three projects were approved by the voters of Boulder City, yet the burden of paying off those debts rests with you and me. Shouldn’t we have had a say on those issues?