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Gypsum Gas Wars

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!

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