From the Rifle Citizen Telegram (Mike McKibbin):
If approved by city voters, the increase will help the city repay a $25.5 million loan from the Colorado Water and Power Development Authority. The loan, on which the city closed on Aug. 14, will fund the construction of a new water treatment plant to replace the current Graham Mesa plant, which is old and in danger of failure, according to city officials.
The sales and use tax hike, if approved in November, would take effect in January and would end once the loan is repaid. It would increase the city’s sales tax rate from 3.5 cents to 4.25 cents and would raise an estimated $1.65 million a year.
