In his last “State of the City” address, Mayor Lionel Rivera today called upon Colorado Springs residents to suspend the city’s TABOR law for 2010, 2011 and 2012.“The TABOR formula creates rapid declines in revenue limits in economic downturns, but prevents rapid recovery when conditions improve,” the mayor said. “As the economy recovers, what we refer to as the ‘ratchet-down effect’ of TABOR could restrict the city’s efforts to restore services.
“If it looks like we will be in surplus for 2010, then we should strongly consider placing a measure on the November ballot to ask citizens to allow the city to retain surplus revenue for 2010, 2011, and 2012 and add it to our TABOR budget baseline.
Vice Mayor Larry Small, who sits on the council, wasn’t immediately ready to embrace the idea. – Read More –
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