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Aspen City Council Asks Voters For More Financial Control

Sep 10, 2018

Credit City of Aspen

Ordinances 19 and 20 on Aspen’s ballot look to return some financial control to the city council.

 

Ordinance 19 allows for revenue bonds to be issued without voter approval, with no dollar amount attached. At Councilman Bert Myrin’s suggestion, Ordinance 20 will ask voters if they want a ten-million-dollar cap on this kind of spending without voter approval.

This would reverse an amendment to the charter that the city currently has in place that sends all enterprise bond borrowing questions to voters. Aspen is one of the few municipalities in the state that has such a strict guideline.

If passed, this ordinance would place Aspen in line with state regulations under the Taxpayer's Bill of Rights (TABOR). While TABOR has restrictions on issuing new debt, it does allow cities to issue revenue bonds so that important civic projects aren't stalled while waiting for voter approval.