Opinion: The latest attempt to stop municipalization
Clearly, Xcel is behind the current attempt to amend Boulder’s charter in a way that could stop Boulder from creating a clean, innovative, and financially responsible electric utility. The proposed language was taken word-for-word from a poll Xcel did, and Xcel is intending to fund this effort to maintain its highly profitable monopoly. (See Camera stories of May 16 and 22.) Here’s what the initiative says, and what it means: The first paragraph requires that, “Before the utility issues any debt, voters must approve the amount of the utility’s debt limit and the total cost of debt repayment that the utility will incur…” This requires voter approval of both a debt limit and the total cost of debt repayment. This is much more stringent than even the Taxpayers Bill of Rights (TABOR). It forces a vote on the exact total cost of repayment, not on the maximum as TABOR requires. This means that the utility will have to guess at the final interest rate, because the vote will occur well b...