Wednesday, July 7, 2010

Amendment 61 would limit government borrowing

Amendment 61, which Colorado voters will consider in November, could dramatically change that financing method.

The proposal would prohibit the state from borrowing and would limit local governments to borrowing for only 10 years and only with voter approval.

Backers of Amendment 61 say it is necessary to rein in out-of-control borrowing, and they say opponents are using apocalyptic scare tactics.

Opponents estimate $2 billion a year in publicly financed construction would cease if the plan passes.     More -

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