Burlington voters should already have ballots in hand for the city’s Dec. 7 special election.
There aren’t any candidates in this election, just two questions — each asking whether the city should be allowed to raise cash for upgrades it wants to make.
The city is seeking approval to spend a combined $60 million on the upgrades, which would be paid for by property taxes. But to finance the projects, the city is asking voters if it can sell bonds.
VTDigger compiled answers to a list of questions voters might have about the election.
What upgrades does the city want to make?
The upgrades are separated into two questions: one set of projects for Question One, another set for Question Two.
The projects in Question One are part of Burlington’s Capital Plan, a list of initiatives assembled in 2015 to help the city prioritize what it wants to fix.
The $40 million spent in this category would go toward general infrastructure items, such as repairing streets and sidewalks, adding features from the city’s Bike/Walk Plan, and performing maintenance on the shuttered Memorial Auditorium. The money would also be used for jobs such as replacing the rotary on Shelburne Street as well as buying three new fire trucks and some sidewalk plows (aka snow dragons).
The $40 million would “draw down” other funds to pay for $151 million worth of upgrades, officials said. That means, if the city reaches its threshold of $40 million, it can then access other funds to pay for more upgrades.
Question Two would raise money for the Burlington Electric Department as it carries out initiatives related to the city’s Net Zero Energy Roadmap.
To achieve Burlington’s goal of offsetting carbon emissions by 2030, officials said, the city must secure the $20 million this question requests, which would go toward initiatives such as:
- Updating the electricity grid so it can handle increased demand from sources like electric vehicle charging stations.
- Changing the fuel that runs the city’s peak power plant (used when energy consumption is at its peak) from oil to biodiesel, a renewable energy.
- Installing new electric vehicle charging stations.
What’s a bond? Asking for a friend, of course …
Of course. We know you didn’t snooze through high school economics class (wink).
Like a stock, a bond is a way to invest in an institution. In a bond, however, your investment takes the form of “debt” instead of “equity.” That means you loan the institution money and in return get interest on it at specified intervals.
Municipal bonds are common in mutual funds and are attractive to investors because they are not subject to federal income tax.
I got a ballot in the mail. Does that mean I have to vote by mail?
No, but you can if you want.
If you would rather vote in person, bring your ballot with you to the polls Dec. 7. Also, there are five drop-off boxes around the city where you can leave your ballot before 4:30 p.m. Dec. 6.
City officials recommend that all voters who are mailing their ballots do so by Nov. 27.
I’m not registered to vote. Can I still participate in this election?
Legally eligible residents can register to vote any time before the election, including on the date itself. If you’re interested, check out the elections page on the city’s website.
