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Blue Mountain Water District · 6A · Jefferson County

Up to $1.2 million state loan (repayment up to $2,082,000), repaid from water fees with no new tax

Official ballot wording

SHALL BLUE MOUNTAIN WATER DISTRICT DEBT BE INCREASED UP TO $1,200,000, WITH A MAXIMUM REPAYMENT COST OF UP TO $2,082,000, BUT WITH NO ADDITIONAL TAX AUTHORIZATION, SUCH DEBT TO CONSIST OF A LOAN AGREEMENT OR OTHER MULTIPLE FISCAL YEAR OBLIGATION ENTERED INTO WITH A STATE AUTHORITY FOR THE PURPOSE OF PAYING OR FINANCING ALL OR A PART OF THE COSTS OF CONSTRUCTING AND COMPLETING WATER QUALITY, REGULATORY COMPLIANCE AND RELATED SYSTEM IMPROVEMENTS, WITH SUCH DEBT TO BE PAID FROM THE FEES AND CHARGES DERIVED FROM THE OPERATION OF THE DISTRICT’S WATER SYSTEM AND OTHER LEGALLY AVAILABLE REVENUES, TO BEAR INTEREST AT A MAXIMUM NET EFFECTIVE INTEREST RATE NOT TO EXCEED 4.0% PER ANNUM AND TO BE ISSUED AT SUCH TIME, IN SUCH MANNER AND CONTAINING SUCH TERMS, NOT INCONSISTENT HEREWITH, AS THE BOARD OF DIRECTORS MAY DETERMINE?

Official sources