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Attached for the Board of
Supervisors’ consideration is a revised Debt Referendum
Policy on public participation in the decision making on
large construction projects. The original policy was adopted
on June 11, 2003, and revised November 17, 2003. Based on
the number of major construction projects estimated in the
next ten years, the time and expense to hold a referendum
and the significant escalation of construction costs a
revision to the Debt Referendum Policy is recommended. A
summary of the changes:
1.
The threshold to hold a referendum would increase
from the current $10 million to $25 million.
2.
To provide the Board of Supervisors’ with the
greatest flexibility the limitation due to possible
exceeding the debt limit was also removed as well as
requiring the referendum to be held in conjunction with a
General Election.
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