Boulder County Ballot Issue 5C

Posted Public Notice


Information required under Section 1-7-908, Colorado Revised Statutes, related to the November 5, 2013 election on County Ballot Issue 5C.


NOTICE IS HEREBY GIVEN by the Board of County Commissioners of Boulder County, Colorado of the information required under Section 1-7-908, Colorado Revised Statutes, related to the November 5, 2013 election on County Ballot Issue 5C – Boulder County Subdivision Paving Public Improvement District $30,000,000 Bond Authorization.

The district has not yet been formed and if formed, revenues will not be generated until 2014.  If voters approve its formation on November 5, 2013, the district’s ending special use fund balance for the last four fiscal years and the projected ending special fund use balance for the current fiscal year is “0.”

Because the district has not yet been formed, the total revenues in and expenditures from the district’s special use fund for the last four fiscal years is “0.”  The projected total revenues in the special use fund for the current fiscal year is “0” and the district will have no expenditures in the current fiscal year other than those paid from proceeds of the Bonds if the Bonds are issued.

The amount of any debt or other financial obligation incurred by the district for each of the last four fiscal years for cash flow purposes that has a term of not more than one year is “0” and the amount of any financial obligation projected for the current fiscal year is “0.” The district’s emergency reserve required by section 20 (5) of article X of the state constitution has not been fully funded for the reason that there will be no fiscal year spending until 2014.

No audited financial statements of the district, management letters in connection with such audits, or the district’s budget for the current year exist at this time and thus none are available for review.

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