Gypsum Gas Wars
Gypsum Gas Wars - BusinessBriefs.net
Gypsum Gas Wars - BusinessBriefs.net
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Business Briefs - Vail, Colorado - www.BusinessBriefs.net - Aug 26 thru Sept 29, 2010 - Page 3<br />
Vail Council wants to add debt, without voter approval<br />
Publisher’s Opinion<br />
If you ran a business in<br />
Eagle County, would you<br />
borrow $12 million in this<br />
economic climate, and pay<br />
it back, along with $7 million<br />
more in interest? This<br />
publisher wouldn’t, and<br />
neither would Vail<br />
Councilman Kevin Foley.<br />
Should government do<br />
it without voter approval,<br />
as required by the state constitution’s<br />
Taxpayer Bill of<br />
Rights (TABOR), which<br />
was initiated by voters<br />
state-wide and passed in<br />
1992?<br />
It appears that most of<br />
the rest of the Vail Council<br />
thinks so, as no one else<br />
objected to that idea at a<br />
1pm meeting of the council<br />
on Tuesday, August 17th.<br />
This Vail meeting was<br />
held 30 minutes prior to<br />
Council’s usually wellnoticed<br />
work session, while<br />
acting as another legal entity<br />
known as the Vail Re-<br />
Investment Authority, with<br />
only three-to-four days<br />
notice of the meeting, and<br />
conveniently minutes<br />
before the Channel 5 Public<br />
Access camera would<br />
arrive to shoot the regular<br />
work session meeting, to<br />
prevent voters from being<br />
informed.<br />
Vail’s experienced bond<br />
counsel, Dee Wisor, cited a<br />
2001 Colorado Appellate<br />
Court decision, offering his<br />
opinion that their decision<br />
eliminates the need for<br />
voter approval for borrowing<br />
money in this instance,<br />
thereby overturning<br />
TABOR.. This case was<br />
never brought before the<br />
Colorado Supreme Court,<br />
but most Colorado courts<br />
have been known for overturning<br />
voters’ rights.<br />
And, the courts wonder<br />
why the “Clear the Bench”<br />
campaign wants more<br />
judges removed for usurping<br />
voters’ rights in the<br />
November election!<br />
If the loan idea passes at<br />
the Tuesday, September<br />
21st meeting of the<br />
Authority, it would indebt<br />
Vail taxpayers for the next<br />
20 years.<br />
The Authority doesn’t<br />
even know what it wants to<br />
Gary says,<br />
“Boyz Toyz & Sonz<br />
now rents ATVs!”<br />
spend the money on.<br />
Did I mention that Vail<br />
has approximately $50 million<br />
in reserves that it could<br />
use instead of borrowing<br />
money? Did I mention that<br />
Vail will have $3 million<br />
more in cash available at<br />
the end of the year that it<br />
could apply to this, plus it<br />
could tap $10 million from<br />
the voter-approved tax for<br />
a never-to-be-built conference<br />
center, that voters<br />
could simply approve for<br />
this new purpose, thereby<br />
saving the need to borrow<br />
$12 million?<br />
But, to do that, the<br />
council would have to ask<br />
for voter approval. They<br />
obviously don’t trust voters<br />
to do that?<br />
The fact is, the Vail<br />
Town Council doesn’t trust<br />
the voters to approve<br />
indebting themselves for 20<br />
years, in what could be a<br />
loan up to $26 million, plus<br />
$14 million or more in<br />
interest!<br />
They are right. The voters<br />
are smart enough not to<br />
approve that when Vail has<br />
the cash to do it and the<br />
”I will take you to a fun place to ride!”<br />
Rates as low as $150.00 per day,<br />
weekly rates available!<br />
• Unlimited Miles<br />
• Comes with a full tank of gas!<br />
• Delivery to and from<br />
Hardscrabble included!<br />
ability to avoid exorbitant<br />
interest charges.<br />
Wake up, council!<br />
Private Fly Fishing Trips<br />
Wade - Float - Private Water - Horseback<br />
Overnight - Kids Camp - Wine Tasting<br />
Schools - Customized & Specialty Trips<br />
970-827-9500<br />
www.MinturnAnglers.com<br />
between Vail and Beaver Creek<br />
Also available during hunting season. Reserve now!<br />
Come see Gary today – your full-service Artic Cat dealer!<br />
Located at 432 Grand Avenue on West Highway 6 in Eagle.<br />
Call 970-328-7669, or email to BoyzToyzSonz@hotmail.com today!