Rejecting Irresponsible Debt in Denver
A call to vote "No" on Denver's bonds highlights concerns over irresponsible debt.
The total cost of the bonds, including the Rise Denver bond of $260 million in 2021 and the Elevate Denver Bond of $937 million in 2017, adds up to over $2 billion.
- Rise Denver bond (2021): $260 million
- Elevate Denver Bond (2017): $937 million
- 2A to 2E bonds (current year): $950 million
The debt repayment for current bonds is approximately $1.9 billion.
"without imposing any new tax,"
This statement is not entirely accurate, as the bonds are paid through commercial and residential property taxes in Denver County, which could lead to an increase in the mill levy if property values decrease.
Author's summary: Vote "No" on Denver bonds to avoid irresponsible debt.
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