CITY OF FORT COLLINS
BALLOT ISSUE 201
PROPOSED CITIZEN-INITIATED ORDINANCE NO. 2, 2001
SHALL CITY OF FORT COLLINS DEBT BE INCREASED BY NOT MORE THAN $41,500,000 IN PRINCIPAL AMOUNT, WITH A REPAYMENT COST OF NOT MORE THAN $86,000,000 TOTAL PRINCIPAL AND INTEREST, BY THE ISSUANCE OF SALES AND USE TAX REVENUE BONDS, PAYABLE FROM THE CITY'S SALES AND USE TAXES, INCLUDING PROPOSED INCREASES THEREIN, AND OTHER LEGALLY AVAILABLE FUNDS, THE PROCEEDS OF WHICH BONDS, TOGETHER WITH INVESTMENT EARNINGS THEREON, SHALL BE USED TO FINANCE AND/OR REFINANCE THE ACQUISITION, CONSTRUCTION AND INSTALLATION OF
- A NEW PERFORMING ARTS CENTER, INCLUDING AN APPROXIMATELY 2,200-SEAT MAIN THEATER AND AN APPROXIMATELY 400-SEAT THEATER, A VISUAL ARTS GALLERY AND SPACE FOR COMMUNITY MEETINGS AND
- IMPROVEMENTS TO THEATERS IN THE COLORADO STATE UNIVERSITY CENTER FOR THE ARTS TO ACCOMMODATE JOINT USE WITH THE CITY,
TOGETHER WITH ANY OTHER NECESSARY OR INCIDENTAL PROPERTIES, FACILITIES AND COSTS, SUCH BONDS TO MATURE, BEAR INTEREST AND BE CALLABLE FOR REDEMPTION PRIOR TO MATURITY, WITH OR WITHOUT A PREMIUM, AS MAY BE DETERMINED BY THE CITY COUNCIL, SUCH BONDS TO BE ISSUED PURSUANT TO SUCH ORDINANCES OF THE CITY COUNCIL AS MAY BE NECESSARY AND PRUDENT TO EFFECT THE PROVISIONS HEREOF, AND IN CONNECTION THEREWITH SHALL THE CITY OF FORT COLLINS BE AUTHORIZED TO RECEIVE AND EXPEND SALES AND USE TAXES, OTHER LEGALLY AVAILABLE FUNDS AND INVESTMENT EARNINGS THEREON IN AMOUNTS EQUAL TO SUCH PRINCIPAL, INTEREST AND PREMIUM FOR THE PURPOSE OF PAYING THE SAME, NOTWITHSTANDING ANY APPLICABLE LIMITATION ON REVENUES AND EXPENDITURES, INCLUDING THE LIMITATIONS SET FORTH IN ARTICLE X, SECTION 20 OF THE COLORADO CONSTITUTION, ALL IN ACCORDANCE WITH CITIZEN-INITIATED ORDINANCE NO. 2, 2001?
_____ YES
_____ NO
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