Ballot Issue 1B - La Plata County Debt Increase

SHALL LA PLATA COUNTY DEBT BE INCREASED $40,400,000 WITH A REPAYMENT COST OF $64,432,600 AND SHALL COUNTY TAXES BE INCREASED $3,221,633 ANNUALLY TO FINANCE THE COSTS OF A NEW TERMINAL AND OTHER IMPROVEMENTS TO THE DURANGO-LA PLATA COUNTY AIRPORT TO IMPROVE SAFETY, CAPACITY AND FUNCTIONALITY; SUCH DEBT TO BE SOLD IN ONE SERIES OR MORE, FOR A PRICE ABOVE OR BELOW THE PRINCIPAL AMOUNT OF SUCH SERIES, AND ON TERMS AND CONDITIONS AS DETERMINED BY THE COUNTY, INCLUDING PROVISIONS FOR REDEMPTION OF THE DEBT PRIOR TO MATURITY WITH OR WITHOUT PAYMENT OF A PREMIUM AND A MATURITY OF NOT MORE THAN 20 YEARS FROM THE DATE OF ISSUANCE OF EACH SERIES; AND SHALL THE MILL LEVY BE SET IN EACH YEAR IN AN AMOUNT SUFFICIENT TO PAY THE PRINCIPAL OF, PREMIUM, IF ANY, AND INTEREST ON SUCH DEBT OR ANY REFUNDING DEBT (OR TO CREATE A RESERVE FOR SUCH PAYMENT); AND SHALL SUCH TAX REVENUES AND THE EARNINGS FROM THE INVESTMENT OF THE PROCEEDS OF SUCH DEBT AND TAX REVENUES BE COLLECTED, RETAINED AND SPENT AS A VOTER APPROVED REVENUE CHANGE UNDER ARTICLE X, SECTION 20 OF THE COLORADO CONSTITUTION?