Debt Obligation Initiative

The Petition Summary is as follows:

The Transparency in Payson Debt Obligation initiative establishes Your Right to control town spending.  The Town will be required that any Revenue Bond that has a Combination feature in the indenture agreement, or elsewhere in the Bond terms, or any Contract or Lease Debt in excess of one million dollars ($1,000,000.00) be treated as a General Obligation Bond, requiring a vote of the Qualified Electors to enact and or fund. This will maintain the ‘spirit’ of the general obligation bond requirement; placing funding choices with Citizens.

 

The full application and text is as follows:

 

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Be part of the process.

Be part of the change.

Raise your hand and your voice.