This content was originally published by the Longmont Observer and is licensed under a Creative Commons license.
The council decided by a 5-2 vote to put a measure on the November ballot to sell $36.3 million of bonds to finance the Windy Gap Firming Project.
Council members Moore, Bagley, Coombs, Santo's and Finely voted for the measure. Christensen and Peck voted against.
City Manager Harold Dominguez said a first reading of the proposal should be in front of the council by July 25th in order to get it on the ballot this year.
A significant contingent of residents spoke both at the beginning of the meeting as well as a closing comment from ex-city manager Gordon Pedrow. The general message was concern for rising water rates, the need to put it to a vote and Pedro's closing comments about how important it will be to educate the city's residents on the measure so everyone understands what it means to move forward with this project as well as the consequences if the bond issue fails.
The proposed measure addresses the need for more water as Longmont approaches it's estimated population cap of around 117,000. Council member Moore pointed out the potential for that number to go substantially higher due to currently unanticipated growth demands on the city as people continue moving to the front range and shifting climate trends that are affecting water availability across the region over the next several decades.
The measure, which ensures an additional 10,000 acre-feet of water for the city, will not affect water rates for this year. In 2018, rates will rise by an average of 13 percent, another 10 percent in 2019 and 5 percent in 2020. The bonds would be sold as 20-year municipal bonds at market rates.
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