- Associated Press - Wednesday, June 3, 2015

DENVER (AP) - Denver city leaders tentatively approved a ballot measure to allow $476 million in borrowing, repaid by tourist taxes for a stock show and rodeo complex.

The Denver Post reports (http://dpo.st/1cwDE3c ) that the City Council’s Finance and Services Committee approved the measure Tuesday morning. If the full council signs off later this month, voters will be asked in November to approve permanent extensions 1.75 percent lodging and car-rental taxes to fund the National Western Center project.

Voters first approved those increases in 1999, for the last Colorado Convention Center expansion.

The city would borrow against those taxes and other components of Denver’s total 14.75 percent lodging tax and the 11.25 percent car rental tax. The total borrowing authority sought in the proposed ballot measure is $778 million.


Information from: The Denver Post, http://www.denverpost.com



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