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Home My WebLink About25-90 Submitting Eligible Elections within Boundaries of FDDA on Nov 4, 2025 TABOR Ballot Question 08-13-2025RESOLUTION 25-90 A RESOLUTION OF THE BOARD OF TRUSTEES OF THE TOWN OF FIRESTONE, COLORADO, SUBMITTING TO THE ELIGIBLE ELECTORS WITHIN THE BOUNDARIES OF THE TOWN OF FIRESTONE DOWNTOWN DEVELOPMENT AUTHORITY, AT AN ELECTION TO BE HELD ON NOVEMBER 4, 2025, TABOR BALLOT QUESTIONS AUTHORIZING THE AUTHORITY TO COLLECT, RETAIN AND EXPEND REVENUES AND AUTHORIZING THE AUTHORITY TO ISSUE DEBT; AND SETTING THE BALLOT LANGUAGE FOR SUCH QUESTIONS WHEREAS, the Town of Firestone Downtown Development Authority (the "Authority") is a body corporate duly organized and existing under laws of the State of Colorado; and WHEREAS, the Board of Trustees ("Town Board") of the Town of Firestone has approved the Plan of Development (the "Plan") for the Authority; and WHEREAS, Article X, § 20 of the Colorado Constitution ("TABOR") requires voter approval for any new tax, the creation of any debt, a mill levy increase, or revenue retention or for spending certain monies above certain limits established by TABOR; and WHEREAS, the interest of the Authority and the public interest and necessity demand and require the Authority seek voter approval to allow the Authority to implement the Plan and, more specifically, for the financing of certain development projects contemplated in the Plan (the "Projects"), and to permit the Authority to continue to collect, retain and spend all revenues it receives from whatever sources, without regard to the limitations set forth in TABOR, in order to enable the Authority to continue implementing the Plan; and WHEREAS, pursuant to C. R. S. § 31-25-807(3)(b), the Authority has called an election relating to certain tax or other matters arising under TABOR; and WHEREAS, TABOR requires the Authority to submit ballot issues (as defined in TABOR) to the Authority's electors on limited election days before action can be taken on such ballot issues; and WHEREAS, November 4, 2025, is one of the election dates at which ballot issues may be submitted to the eligible electors of the District pursuant to TABOR; and WHEREAS, pursuant to C.R.S. § 31-25-807(3)(b), the Board must approve the Authority's calling of the election. NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF TRUSTEES OF THE TOWN OF FIRESTONE, COLORADO: Section 2. Questions Submitted. In accordance with Sections 31-10-109 and 31-11- 111(2), C.R.S., the Board of Trustees hereby submits the following ballot question to the eligible electors of the Town in substantially the following form: BALLOT QUESTION #1: SHALL THE TOWN OF FIRESTONE (THE "TOWN") TAXES BE INCREASED $325,000 IN THE FIRST FISCAL YEAR (2025) AND ANNUALLY THEREAFTER BY LEVYING AN AD VALOREM TAX AT A RATE OF NOT MORE THAN FIVE MILLS WITHIN THE BOUNDARIES OF THE PROPOSED FIRESTONE DOWNTOWN DEVELOPMENT AUTHORITY (THE "AUTHORITY"), FOR THE PURPOSES SET FORTH IN PART 8 OF ARTICLE 25 OF TITLE 31 COLORADO REVISED STATUTES; AND SHALL THE TOWN AND THE AUTHORITY BE AUTHORIZED TO COLLECT, RETAIN, AND EXPEND THE REVENUES COLLECTED FROM SUCH TOTAL PROPERTY TAX RATE, AND INVESTMENT INCOME THEREON, AS A VOTER -APPROVED REVENUE CHANGE? YES NO BALLOT QUESTION #2: SHALL THE TOWN OF FIRESTONE DOWNTOWN DEVELOPMENT AUTHORITY (THE "AUTHORITY"), OR THE TOWN OF FIRESTONE (THE "TOWN") ON BEHALF OF AND FOR USE BY THE AUTHORITY FOR PURPOSES OTHER THAN ENTERPRISES, AND AS A VOTER APPROVED REVENUE CHANGE, BE AUTHORIZED TO INCUR ANY MULTIPLE FISCAL YEAR DIRECT OR INDIRECT DEBT OR OTHER FINANCIAL OBLIGATION, INCLUDING CONTRACTUAL AGREEMENTS, AND OTHER OBLIGATIONS AND TO COLLECT, RETAIN, AND SPEND THE FULL AMOUNT OF REVENUES RECEIVED BY THE AUTHORITY, OR BY THE TOWN ON BEHALF OF AND FOR USE BY THE AUTHORITY, IN 2025 AND EACH YEAR THEREAFTER, INCLUDING, WITHOUT LIMITATION, TAX REVENUES, FEES, RATES, TOLLS, CHARGES, GRANTS, RENTS, LOANS, CONTRIBUTIONS, PROCEEDS OF ANY AGREEMENTS OR CONTRACTS, AND ANY OTHER REVENUES IMPOSED, COLLECTED, OR AUTHORIZED BY LAW, AND SHALL SUCH REVENUE BE COLLECTED AND SPENT WITHOUT REGARD TO ANY EXPENDITURE, REVENUE -RAISING, OR OTHER LIMITATION INCLUDING THOSE CONTAINED WITHIN ARTICLE X, SECTION 20 OF THE COLORADO CONSTITUTION, AND WITHOUT LIMITING IN ANY YEAR THE AMOUNT OF OTHER REVENUES THAT MAY BE COLLECTED, RETAINED, AND SPENT BY THE AUTHORITY AND THE TOWN ON BEHALF OF THE AUTHORITY, AND SHALL ALL REVENUES GENERATED BY ANY AD VALOREM TAX LEVY UP TO FIVE MILLS COLLECTED, RETAINED, OR SPENT IN 2025 AND COLLECTED, RETAINED, OR SPENT IN ALL SUBSEQUENT YEARS THEREAFTER BE VOTER APPROVED AS AN INCREASED LEVY EXEMPT FROM THE TAX INCREASE LIMITATIONS CONTAINED IN SECTIONS 29-1-301 AND 29-1-302 COLORADO REVISED STATUTES AND ANY OTHER APPLICABLE LAW? YES NO BALLOT QUESTION #3: WITHOUT INCREASING TAXES, AND SUBJECT TO THE APPROVAL OF BALLOT ISSUE 2, SHALL THE TOWN OF FIRESTONE, COLORADO ("TOWN"), ON BEHALF OF AND FOR USE BY THE TOWN OF FIRESTONE DOWNTOWN DEVELOPMENT AUTHORITY ( THE "DDA"), BE AUTHORIZED TO INCREASE ITS DEBT PRINCIPAL BY UP TO $ 25 MILLION, WITH A TOTAL REPAYMENT COST INCLUDING INTEREST AND FEES OF NOT MORE THAN $74 MILLION, FOR THE PURPOSE OF FINANCING THE COSTS OF DEVELOPMENT PROJECTS TO BE UNDERTAKEN BY OR ON BEHALF OF THE DDA PURSUANT TO THE DDA PLAN OF DEVELOPMENT, AS IT MAY BE AMENDED FROM TIME TO TIME, INCLUDING WITHOUT LIMITATION, ANY PUBLIC IMPROVEMENTS OR PROJECTS DESCRIBED IN THE DDA PLAN OF DEVELOPMENT, AND APPLICABLE PROVISIONS OF COLORADO LAW, FOR OBLIGATIONS THAT ARE SUBJECT TO TABOR ELECTION REQUIREMENTS AND WITHOUT SUCH LIMITATIONS FOR OBLIGATIONS THAT ARE NOT SUBJECT TO TABOR'S ELECTION REQUIREMENTS; SUCH DEBT AND THE INTEREST THEREON TO BE PAID FROM AND SECURED BY A PLEDGE OF THE SPECIAL FUND OF THE TOWN WHICH SHALL CONTAIN TAX INCREMENT REVENUES LEVIED AND COLLECTED WITHIN THE BOUNDARIES OF THE DDA; AND SHALL SUCH DEBT BE EVIDENCED BY BONDS, LOANS, ADVANCES, OR OTHER INDEBTEDNESS OR FINANCIAL OBLIGATIONS, TO BE SOLD IN ONE SERIES OR MORE, FOR A PRICE ABOVE OR BELOW THE PRINCIPAL AMOUNT THEREOF, ON TERMS AND CONDITIONS, AND WITH SUCH MATURITIES AS PERMITTED BY LAW AND AS THE TOWN MAY DETERMINE, INCLUDING PROVISIONS FOR THE REDEMPTION OF THE DEBT PRIOR TO MATURITY WITH OR WITHOUT PAYMENT OF A PREMIUM OF NOT MORE THAN 3% OF THE PRINCIPAL AMOUNT SO REDEEMED; AND SHALL THE TOWN AND THE DDA BE AUTHORIZED TO COLLECT, RETAIN AND SPEND THE TAX INCREMENT REVENUES, THE BOND PROCEEDS AND THE INVESTMENT INCOME THEREON AS A VOTER -APPROVED REVENUE CHANGE AND EXCEPTION TO THE LIMITS WHICH WOULD OTHERWISE APPLY UNDER ARTICLE X, SECTION 20 OF THE COLORADO CONSTITUTION OR ANY OTHER LAW? YES NO Section 3. Ballot Title Fixed. The Town hereby adopts the provisions of Section 1- 11-203.5, Colorado Revised Statutes, as the exclusive procedure for protesting or contesting the content of the ballot titles and text set forth above. For purposes of Section 1-11-203.5, Colorado Revised Statutes, the ballot titles for the questions set forth in Section 2 above shall be the text of each question itself. Section 4. Election Procedures. Pursuant to TABOR, the Uniform Election Code (Title 1, Articles 1 through 13, C.R.S.) and Title 31, Article 25, Part 8, C.R.S. (the "Act"), the Town Board hereby determines that the election shall be conducted on November 4, 2025 as an independent mail ballot election, and a coordinated Tabor Notice with Weld County, Colorado in accordance with the Uniform Election Code and the laws of Colorado. The qualified electors of the election shall be as defined in the Act. The Town Clerk shall be the designated election official for the election. The Town Clerk and other officers and employees of the Town are authorized and directed to take all action necessary or appropriate to effectuate the provisions of this Resolution, including all steps necessary to place the TABOR questions on the ballot. Section 5. Actions by Town Officers and Employees. Any and all actions previously taken by the Election Official or any other Town officer or employee in furtherance of the directions and authorizations of this Resolution are hereby ratified and confirmed. PASSED AND ADOPTED this(gay of v us , 2025. COLORADO Luna, CMC, Town Clerk APPRO S TO FORM: Ma all Keith Ma , Town Attorney