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Thursday, October 17,2013

Election Guide 2013: Yes on Boulder Ballot Question 2F

By Boulder Weekly Staff

City of Boulder Ballot Question 2F
Negotiated or Private Bond Sales

Vote Yes

The primary motive behind this question is to give more flexibility to the city when it comes to negotiating the issuance of its bonds, particularly those that it hopes to be issuing soon for the purpose of creating a city-owned electric utility.

Currently, section 98 of the Boulder City Charter only allows for the competitive, public sale of bonds with maximum interest rates fixed by ordinance. Also, section 98 requires all bonds to be sold to the highest bidder.

Most cities already allow for “negotiated” bonds and private sale of bonds.

In some instances, such as floating bonds for a new utility that doesn’t already have an established rating, a negotiated bond process can produce bonds that ultimately cost taxpayers less and that have better interest rates. The city would also like the option of making bonds such as those on a city utility available for purchase by Boulder residents.

At the end of the day, Question 2F is about giving the city more flexibility to keep its financial house in order by empowering it to make the best deals possible when it comes to city debt. For that reason, we encourage voters to say yes on Question 2F.

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