The final steps are wrapping up to eliminate the vehicle registration fee for Colorado motorists living in counties where the fees have been imposed.
The E-470 Board of Directors unanimously voted earlier this year to remove the fee and the authority has worked with the relevant municipalities, including Adams, Arapahoe and Douglas counties, to prepare for the milestone, according to a recent news release.
The fee removal is supported by all voting members of the E-470 Board: Heidi Williams (City of Thornton), Chaz Tedesco (Adams County), Steve Douglas (Commerce City), Bill Holen (Arapahoe County), John Diak (Town of Parker), Françoise Bergan (City of Aurora), Roger Partridge (Douglas County) and Ken Kreutzer (City of Brighton).
The bonds pledged by the fee were originally approved by voters in 1988 to build and operate E-470 and were set to be retired in 2026. The E-470 board refinanced the bonds in 2001 and reduced the final maturity with a scheduled payoff Sept. 1, 2018, coinciding with the elimination of the fee, the release said.
“It was my honor to support this extremely important policy decision to remove the fee once the bonds were paid,” Douglas County Commissioner Partridge said in the news release. “As Douglas County's voice on this board, my focus is on the best interests of our citizens and taxpayers, and I believe the elimination of this 30-year-old fee is doing just that.”
Williams, mayor of Thornton and chair of the E-470 board of directors, is happy with the authority's ability to move forward with removing the fees eight years ahead of schedule.
“Thirty years ago, E-470's leadership had the foresight to find a means to finance the roadway before the toll revenues were forecasted and fully available to address funding demands — now we have the ability to remove the vehicle registration fee while continuing to support a roadway that is safe, reliable and based solely on tolls paid by users of the system,” Williams said in the release.
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