A peaceful scene at Granby Ranch on May 26, 2024. Voters in the Granby Ranch metropolitan area will see a debt authorization question on their ballots this year.
Kelly Demandante/Photo courtesy
This year, property owners in the Granby Ranch Metropolitan District are seeing a question on their ballots about repealing the unspent debt authorization. Granby Ranch Metropolitan Area District Manager Charles Wolfersberger is the designated election official for this ballot measure and has expressed his opinion on what it would mean for homeowners in his district if it passes. I explained.
The language on the ballot states: “Excluding all authority to repay existing debt, all previously authorized and unissued debt authorizations granted by voters in all previous elections for the Granby Ranch metropolitan area All shall be permanently repealed and revoked with immediate effect.”
Wolfersberger said he works with many metropolitan district boards that are controlled by homeowners, and one of the recurring problems these commissioners encounter is that they still have hundreds of millions of dollars in borrowing authority after voting. He explained that it’s about realizing that you have. This borrowing authority usually results from a previous election. Provides developers with the means to build their development.
Mr. Wolfersberger explained that the Granby Ranch Metropolitan Area’s current debt capacity of just over $170 million was retroactively transferred in 2003 and 2004.
According to state law, special district voter-approved debt expires after 20 years. However, Wolfersberger said the language of the law is not completely clear, only specifying when debt capacity in the form of general obligation bonds expires. He said there are other bonds besides bonds theoretically available to the board.
District board members could borrow more money without permission if they wanted, meaning homeowners in the district would have to pay back even more debt. Because of this possibility, Wolfersberger said he is encouraging many district boards to introduce similar ballot measures to prevent future boards from borrowing more money without voter permission. I explained.
This graph shows the accounting information for Ballot Question 6A. This issue will be voted on by members of the Granby Ranch metropolitan area. Image provided by Grand County Clerk and Recorder
Supporters of the ballot issue argue that if the district’s board were to draw on its current unused debt facility of approximately $170 million, the district’s current debt would increase to unsustainable levels. He claims to be deaf. If all of this debt capacity were tapped, about 800 properties that contribute to the school district’s tax base would be owed about $200,000 and their property taxes would be reduced, according to supporters of the bill. will increase.
If passed, this ballot measure would ensure the expiration and termination of all current district debt facilities, regardless of the form of debt approved 20 years ago.
“This ballot question is sufficiently broad and written in such a way that it closes the door on the district’s ability to issue any type of debt without voter approval,” Wolfersberger said.
This measure does not restrict school districts from using debt for future infrastructure projects. If a future board wants to move forward with a project that requires debt capacity, the board can send another ballot measure to increase new debt capacity.
Although Wolfersberger cannot tell voters how to vote on this issue, he believes it is ultimately a good thing for the issue to be left to voters and for them to decide whether to pass it or not. said.
“I think it’s great that we’re putting this decision before the voters…It’s great that the board has allowed this decision to be put to the taxpayers for a vote,” Wolfersberger said.
