Legalized recreational marijuana was sold to Coloradans as a proposition that not only would pay for its own regulation, but generate millions for school construction, too.

It's time to make good on those promises.

Within days, voters will receive mail ballots, which will include a question on statewide marijuana taxes dubbed Proposition AA.

The measure proposes a 15 percent marijuana excise tax that would go toward school construction, and a 10 percent sales tax to pay for the retail regulatory structure.

We hope Colorado voters do not hesitate in approving this crucial piece of the effort to normalize personal marijuana use, yet ensure pot is kept out of the hands of children.

For sake of clarity, we are dealing in this space only with proposed new statewide taxes.

Some local governments, such as Denver, are proposing separate taxes that would be stacked on top of the statewide tax to cover local costs. And all marijuana sales will be subject to the existing 2.9 percent state sales tax.

The new statewide taxes, however, are necessary companions to the measure that voters supported in 2012.

They voted for a controlled regulatory system that will take significant resources to implement, and those must come from fees and taxes.

So, how will the money be spent?

Let's take the excise tax, which is assessed at the wholesale level. The first $40 million collected each year will go to the Building Excellent Schools Today program, which is a competitive grant program for Colorado public schools, including charter schools.

However, for at least the first two years, revenue is expected to be less than $40 million annually.

The 10 percent sales tax, tacked onto the retail price paid by consumers, will fund the regulatory structure, and related costs for health, education and public safety.

While most responsible marijuana legalization advocates are supporting Proposition AA, a handful are not. They claim high taxes will drive sales underground, leading to the failure of the regulated market.

An exorbitant tax might do that, but this one isn't in that range. Meanwhile, we have more confidence in the desire of most marijuana users to stay straight with the law.

And, most importantly, a scheme similar to AA was what voters bought into when they agreed to allow Colorado to become one of the first two states to legalize recreational marijuana. This is no time to deviate from that vision.