10-18-98 REF. 199 Broomfield

Posted in: Country Side
For WW

The mayor and city councilmembers will all be elected. County assessor, county clerk and recorder, county coroner will be appointed by the city manager. The police chief will assume the duties of a county sheriff. The city finance director will assume the duties of a county treasurer.
Hope this helps.

By BBW
Ann - Re: COPS

I can tell you what I know about COPS. They are a form of tax free investments similar to municipal bonds. As with bonds, they are are form of a loan. Investors in COPS are loaning money to cities.
TABOR - the Taxpayers' Bill of Rights - authored by Douglas Bruce and approved by the state's voters places rigid limitations on the use of multiple year financing by cities. Apparently, COPS are issued with the understanding that they are subject to year to year paybacks and, as such, do not constitute multiple year debt. Since they are a riskier investment for the investor, they typically carry a higher interest rate than municipal general obligation bonds, but do not require voter approval. In my opinion, COPS are most certainly a debt. If a city does not fully repay the COPS loan, that city may never be able to use the COPS funding again.


By BBW
For Br. Anon.

My position on open space. As I think I mentioned before, I am an open space advocate. I believe the Field should remain as natural open space.
I know that the city council has given direction to the new Parks and Recreation Advisory Committee to sumit recommendations for the location of the new athletic complex early next year. I support a new atheltic complex as long as it is not in the Field. I believe there are other very good locations that can serve all of Broomfield.
Are COPS a good investment? I think it depends on the governmental entity issuing them. COPS issued by major cities such as Westminster and Broomfield are a good investment. The interest rate for COPS is typically a little higher than for general obligation bonds, but there are trade-offs. COPS do not constitute a debt against everybody's property as do general obligation bonds. If, for some reason, a city does not repay a general obligation bond, bondholders can ask the courts to levy a property tax to repay the bonds. Such is not the case with COPS. From this standpoint, they are safer for the taxpayers.
COPS are a reasonable and prudent way for Broomfield to fund capital facilities needed for county government functions and for expanded municipal facilities.
I believe the Broomfield cc is committed to both open space and to the needs of the youth for recreation facilities and ballfields. Broomfield has been aggresively acquiring open space areas. I think the new ballfields off Main St. (used to be Pierce) will be very nice.
As far as implementing the Master Plan, I think, on balance, the city is doing very well. I don't see it as a temporary thing. But, I do believe that the Master Plan is a document that needs to have a little flexibility.


By BBW
Thx, BBW

Thanks, BBW. That's what I thought. And I know it's a matter of public record somewhere. I just thought it would be quicker to ask you than to try to find it somewhere. This info will help put some worries to rest. THX !!!

By WW
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