Ballot Title Setting Board
2003-2004

The title as designated and fixed by the Board is as follows:

State of Colorado debt shall be increased $2 billion, with a repayment cost of $4 billion, maximum total state cost, by an amendment to the Colorado Revised Statutes concerning the financing of improvements to water infrastructure in Colorado, and, in connection therewith, authorizing the Colorado Water Conservation Board to issue revenue bonds for the construction of private or public water infrastructure projects costing five million dollars or more that have been approved by the governor; authorizing the Water Conservation Board to recommend projects, including at least two projects from different river basins with a start date of 2005, and requiring the governor to approve at least one such project; setting aside $100 million of bond proceeds to finance projects, or portions of projects, that augment or improve existing facilities or conserve existing water supplies without creating new storage facilities; exempting the bond proceeds, the proceeds of sales by the Board of water, power, or other assets from facilities financed by the bonds, and any earnings from all such proceeds, from the revenue and spending limits imposed by article X, section 20 of the state constitution and article 77 of title 24, Colorado Revised Statutes; and requiring the General Assembly and executive branch agencies to adopt by July 1, 2004 any necessary statutes and rules, respectively, to ensure the marketability of the bonds authorized by this measure.

The ballot title and submission clause as designated and fixed by the Board is as follows:

Shall state of Colorado debt be increased $2 billion, with a repayment cost of $4 billion, maximum total state cost, by an amendment to the Colorado Revised Statutes concerning the financing of improvements to water infrastructure in Colorado, and, in connection therewith, authorizing the Colorado Water Conservation Board to issue revenue bonds for the construction of private or public water infrastructure projects costing five million dollars or more that have been approved by the governor; authorizing the Water Conservation Board to recommend projects, including at least two projects from different river basins with a start date of 2005, and requiring the governor to approve at least one such project; setting aside $100 million of bond proceeds to finance projects, or portions of projects, that augment or improve existing facilities or conserve existing water supplies without creating new storage facilities; exempting the bond proceeds, the proceeds of sales by the Board of water, power, or other assets from facilities financed by the bonds, and any earnings from all such proceeds, from the revenue and spending limits imposed by article X, section 20 of the state constitution and article 77 of title 24, Colorado Revised Statutes; and requiring the General Assembly and executive branch agencies to adopt by July 1, 2004 any necessary statutes and rules, respectively, to ensure the marketability of the bonds authorized by this measure?

Hearing April 2, 2003

At the request of proponents, technical corrections allowed in text of measure. (In section 37-60-201 (3) (b), in the third line, changed the word "SHOW" to "WHOSE"; and in section 37-60-206 (2), in the 11th line, deleted the first "AND", where it appeared immediately after the word "BECOME".)
Single subject approved; staff drafts amended; titles set.
Hearing adjourned 9:14 p.m.

Hearing April 16, 2003

Motion for Rehearing granted in part to the extent Board amended titles; denied in all other respects.
Hearing adjourned 5:52 p.m.

* Unofficially captioned "Water Infrastructure Revenue Bonds" by legislative staff for tracking purposes. Such caption is not part of the titles set by the Board.