Ballot Issue 2A: Town of Eaton

The ballot question

WITHOUT IMPOSING A NEW TAX OR INCREASING ANY EXISTING TAX, SHALL THE TOWN OF EATON DEBT BE INCREASED $5,000,000, WITH A REPAYMENT COST OF NOT TO EXCEED $7,900,000, FOR THE PURPOSE OF FINANCING STREET IMPROVEMENTS AND TRANSPORTATION PROJECTS, INCLUDING BUT NOT LIMITED TO MAINTAINING, CONSTRUCTING, RECONSTRUCTING, REPAIRING, AND IMPROVING: 10TH STREET BETWEEN HIGHWAY 85 AND CHRISTENSEN AVENUE (COUNTY ROAD 39); CHRISTENSEN AVENUE (COUNTY ROAD 39), NORTH OF EAST COLLINS STREET; SOUTH CHEYENNE AVENUE, SOUTH OF COLLINS STREET; AND TO PAY THE COST OF THE ISSUANCE OF SUCH DEBT AND THE FUNDING OF ANY NECESSARY RESERVES, WITH THE SPECIFIC TERMS OF SUCH DEBT BEING DETERMINED BY THE TOWN AS NECESSARY AND PRUDENT INCLUDING THE PLEDGE TO THE PAYMENT OF THIS DEBT OF ANY LEGALLY AVAILABLE REVENUE OF THE TOWN, INCLUDING BUT NOT LIMITED TO THE 1% TRANSPORTATION SALES AND USE TAX APPROVED BY THE VOTERS AT THE 2023 COORDINATED ELECTION, AND A PROVISION FOR EARLY REPAYMENT WITH OR WITHOUT A PREMIUM OF NOT MORE THAN 3.00%; AND SHALL THE TOWN BE AUTHORIZED TO ISSUE DEBT TO REFUND THE DEBT AUTHORIZED IN THIS QUESTION, PROVIDED FURTHER THAT ALL DEBT ISSUED BY THE TOWN PURSUANT TO THIS QUESTION IS ISSUED ON TERMS THAT DO NOT EXCEED THE REPAYMENT COSTS AUTHORIZED IN THIS QUESTION; AND SHALL THE EARNINGS FROM THE INVESTMENT OF SUCH BOND PROCEEDS BE COLLECTED, RETAINED AND SPENT AS A VOTER APPROVED REVENUE CHANGE UNDER ARTICLE X, SECTION 20 OF THE COLORADO CONSTITUTION AND ANY OTHER REVENUE LIMITATIONS CONTAINED IN THE LAWS OF THE STATE?