RESOLUTION NO. 16-07

A RESOLUTION SETTING FORTH THE NOTICE OF ELECTION

FOR THE DDA SPECIAL ELECTION TO BE HELD

ON APRIL 3, 2007 IN THE CITY OF GRAND JUNCTION

BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF GRAND JUNCTION, COLORADO THAT:

The Election Notice hereinafter be the Notice of the DDA Special Election to be held within the Downtown Development Authority boundaries in the City on April 3, 2007 and further that the same be published in accordance with election procedures:

"ELECTION NOTICE

DOWNTOWN DEVELOPMENT AUTHORITY

CITY OF GRAND JUNCTION, COLORADO

NOTICE OF SPECIAL ELECTION

TO BE HELD ON TUESDAY, THE 3RD DAY OF APRIL, 2007

 PUBLIC NOTICE IS HEREBY GIVEN THAT A SPECIAL ELECTION WILL BE HELD BY MAIL-IN BALLOT ON TUESDAY, THE 3RD DAY OF APRIL, 2007, IN THE DOWNTOWN DEVELOPMENT AUTHORITY, CITY OF GRAND JUNCTION, COLORADO.

That said Special Election will be held by mail-in ballot with ballots mailed to all qualified electors in said Downtown Development Authority, City of Grand Junction. Ballot packages will be mailed no later than March 19, 2007 and must be returned to the City Clerk no later than 7:00 p.m. on Election Day, Tuesday, April 3, 2007. Voted ballots may be mailed with proper postage affixed and received by City Clerk no later than 7:00 p.m. Election Day, or returned to the following location, also no later than 7:00 p.m. Election Day:

On April 3, 2007, the place designated will be open until the hour of 7:00 p.m. NO voting devices will be provided at this location. The election will be held and conducted as prescribed by law.

The City Clerk’s Office at the City Hall will be open for issue of ballots to qualified electors who did not receive a ballot, or to reissue ballots to those who have spoiled, lost, moved, or for some reason did not receive a ballot, for the period 25 days prior to the election, Monday through Friday, from 8:00 a.m. to 5:00 p.m. and on Tuesday, April 3, 2007 from 7:00 a.m. to 7:00 p.m. (Election Day).

Qualified electors within the Downtown Development Authority, City of Grand Junction are residents, landowners or lessees within the Downtown Development Authority boundaries. Any landowner or lessee which is not a natural person may vote only if it designates by some official action a representative thereof to cast its ballot.

The question on the ballot is:

DOWNTOWN DEVELOPMENT AUTHORITY, CITY OF GRAND JUNCTION F

SHALL CITY OF GRAND JUNCTION DEBT BE INCREASED $18,000,000 WITH A REPAYMENT COST OF $20,000,000, WITHOUT RAISING ADDITIONAL TAXES, TO FINANCE STREETS, PARKS, PLAZAS, PARKING FACILITIES, PLAYGROUNDS, CAPITAL FACILITIES, PEDESTRIAN MALLS, RIGHTS-OF-WAY, STRUCTURES, WATERWAYS, BRIDGES, ACCESS ROUTES TO ANY OF THE FOREGOING, DESIGNED FOR USE BY THE PUBLIC GENERALLY OR USED BY ANY PUBLIC AGENCY WITH OR WITHOUT CHARGE; SUCH DEBT TO BE EVIDENCED BY BONDS, LOANS, ADVANCES OR INDEBTEDNESS PROVIDED THAT THE SPECIFIC TERMS OF THE DEBT, INCLUDING A PROVISION FOR EARLY REPAYMENT WITH OR WITHOUT A PREMIUM, AND THE PRICE AT WHICH IT WILL BE SOLD SHALL BE DETERMINED BY THE CITY AS NECESSARY AND PRUDENT; SHALL THE PLEDGE OF THE TAX INCREMENT FUND TO SUCH DEBT BE AUTHORIZED FOR A PERIOD NOT TO EXCEED THE MAXIMUM TIME PERMITTED BY LAW; AND IF THIS QUESTION IS APPROVED, THE AUTHORITY TO ISSUE DEBT PURSUANT TO BALLOT ISSUE 5T AT THE CITY’S NOVEMBER 2, 2004 ELECTION SHALL BE OF NO FURTHER EFFECT?

YES

NO

BY ORDER OF THE CITY COUNCIL

/s/ Stephanie Tuin      

Stephanie Tuin, City Clerk"

PASSED and ADOPTED this 7^th day of February, 2007.

             /s/ James J. Doody                  President of the Council

ATTEST:

/s/ Stephanie Tuin    

City Clerk