From today's Denver Post: "Colorado transportation officials said Wednesday they may have to cut $75 million from the state's highway construction and maintenance budget in each of the next four years if voters fail to approve Referendums C and D on the November ballot...Referendum D sets up a 'critical needs financing corporation' that would allow the Colorado Department of Transportation to sell $1.2 billion in bonds for building 55 high-priority road projects around the state over the next four years.The state would pay back bondholders using retained revenues allowed by Referendum C. Without the infusion of new highway money from the ballot measures, CDOT is likely to have about $300 million less in spending for roads through 2010 than was anticipated in earlier highway-funding plans, officials said Wednesday.The shortfall would result because TABOR restrictions have reduced other sources of money for roads, they said."
The Denver Visitor's bureau and City Council have decided to drop a new tax proposed for rental cars, according to the Rocky Mountain News [July 21, 2005, "Bureau backs off rental car tax hike"]. From the article, "By the numbers: $4 million - How much an increase in the city's lodging tax and an uptick in hotel business could generate to promote Denver as a tourist and convention destination, said Richard Scharf, president of the Denver Metro Convention & Visitors Bureau; $5.6 million - How much it had hoped to raise with the new lodging tax rate and a 1 percentage-point increase in the tax rate on rental cars. The bureau reconsidered seeking the car rental tax after rental agencies protested."
Category: Denver November 2005 Election
6:17:05 AM 
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