Fund name

Debt Service

OVERVIEW

The debt service budgets are included in the Parks & Open Space Fund, the Capital Expenditure Fund, the Clean Energy Options Fund, the Qualified Energy Options Fund, the Disaster Recovery Fund, and the Eldorado Springs Local Improvement District Fund. The following section includes the county’s debt policies and a description of every current debt issue.

2023 Debt Summary Overview

DEBT POLICIES AND LIMITS

Boulder County has established the following policies guiding the use of debt, two of which are required by state statute or the State Constitution.


The county will confine long-term borrowing to capital improvements. The payback period will not exceed the useful life of the project.


1. There will be no lease purchase without Board of County Commissioners approval.

2. Debt will not be used to fund current operating expenses.

3. New bond issues must be approved by a majority of voters. (This is a requirement of the State Constitution).

4. Total General Obligation Bonded Debt may not exceed 3.0 percent of the actual value, as determined by the Assessor, of the taxable property in the county (CRS 30-26-301(3)). In 2023, this comes to $2,740,090,243 which is 3.0 percent of the actual value of $91,336,341,417.



Boulder County does not have any general obligation bonded debt. The following county debt descriptions include revenue bonds, certificates of participation, local improvement district bonds, and a revolving fund loan. None of these issues are included in the description of general obligation debt capacity described above in item #4.

2023 Debt Service Schedule

2023 Debt by Fund

Summary of Annual Debt Service Requirements to Maturity

Summary of Annual Debt Service Requirements to Maturity

2023 Debt Descriptions


Open Space Capital Improvement Trust Fund Bonds, Series 2020A
Open Space Capital Improvement Trust Fund Refunding Bonds, Series 2016A
Open Space Capital Improvement Trust Fund Refunding Bonds, Series 2016B
Open Space Capital Improvement Trust Fund Refunding Bonds, Series 2015
Open Space Capital Improvement Trust Fund Bonds, Refunding Series 2011C
Energy Conservation Capital Improvement Trust Fund Bonds – Taxable Qualified Energy Conservation (QECB) Bonds, Series 2010A
Housing & Human Service Building & Public Works Projects Certificates of Participation, 2020A
Housing & Human Service Building & Public Works Projects Certificates of Participation, 2020B
Flood Reconstruction Projects Certificates of Participation, Refunding Series 2021
Health and Human Services Facilities Certificates of Participation, Series 2012
Clean Energy Options Local Improvement District, Special Assessment Bonds Series 2009D

Eldorado Springs Local Improvement Fund Revolving Loan, Loan Date: 2006 ($112,474)

In July 2006, the County entered into a loan agreement with the Colorado Water Resources and Power Development Authority in the amount of $1,651,808. Special assessments against benefiting properties were levied to make the loan payments. The first payment will be made on December 15, 2007 and the last payment will be made on December 15, 2025. Interest is fixed for the life of the loan at 3.5%.

The loan was issued for the planning, design and construction of a new wastewater collection and treatment system to serve the Eldorado Springs area.