SHALL CITY OF GRAND JUNCTION TAXES BE INCREASED (Orchard Mesa Swimming Pool)
SHALL CITY OF GRAND JUNCTION TAXES BE INCREASED $1,900,000 IN 2027 (THE FIRST FULL FISCAL YEAR), AND BY WHATEVER AMOUNTS AS ARE GENERATED ANNUALLY THEREAFTER BY INCREASING THE CITY'S SALES AND USE TAX RATE FROM 3.39% TO 3.46% BEGINNING JANUARY 1, 2027, FOR THE PURPOSE OF GENERATING REVENUE TO FINANCE THE COSTS OF REPAIRING, RENOVATING, AND EQUIPPING
THE ORCHARD MESA SWIMMING POOL, WHICH SHALL INCLUDE REPAIR AND REPLACEMENT OF THE SWIMMING POOL SYSTEMS INCLUDING MECHANICAL, HEATING/VENTILATION/AIR-CONDITIONING
(HVAC), ELECTRICAL AND FILTRATION AND OTHER HARDWARE NECESSARY FOR OPERATION OF THE SWIMMING POOL FACILITY BUT SHALL NOT INCLUDE ANY EXPANSION BEYOND THE EXISTING 6 LANE, 25 YARD BY 25 METER, POOL CONFIGURATION, AND SHALL INCLUDE THE PAYMENT OF PRINCIPAL, PREMIUM, IF ANY, AND INTEREST ON THE DEBT AUTHORIZED BY THIS QUESTION OR TO CREATE A RESERVE FOR SAME; AND SUCH RATE SHALL BE REDUCED BY 0.04% ON JANUARY 1STÂ FOLLOWING THE DATE ON WHICH THE DEBT APPROVED HEREBY IS PAID IN FULL (BUT IN NO EVENT SHALL SUCH REDUCTION OCCUR LATER THAN DECEMBER 31, 2047), WITH THE REMAINING INCREASE AUTHORIZED BY THIS QUESTION (.03%) TO CONTINUE TO PROVIDE FOR THE OPERATION AND MAINTENANCE OF THE ORCHARD MESA SWIMMING POOL, AND SHALL CITY OF GRAND JUNCTION DEBT BE INCREASED $12,000,000 WITH A REPAYMENT COST OF $19,000,000 TO PROVIDE FINANCING FOR THE COSTS OF REPAIRING, RENOVATING, AND EQUIPPING THE ORCHARD MESA SWIMMING POOL WITH THE DEBT BEING PAYABLE FROM THIS TAX INCREASE OR ANY OTHER GENERAL REVENUE OF THE CITY, PROVIDED THAT THE
SPECIFIC TERMS OF THE DEBT, INCLUDING A PROVISION FOR EARLY REPAYMENT WITH OR WITHOUT A PREMIUM, AND THE PRICE AT WHICH IT WILL BE SOLD BEING DETERMINED BY THE CITY AS NECESSARY AND PRUDENT, WITH THE CITY BEING AUTHORIZED TO IMPOSE, COLLECT, RETAIN AND SPEND SUCH REVENUES AND ANY INVESTMENT EARNINGS AND INTEREST THEREON, AS A VOTER APPROVED REVENUE CHANGE UNDER ARTICLE X SECTION 20 OF THE COLORADO CONSTITUTION AND ANY OTHER LAW?