Metropolitan District - General Explanation
In accordance with Section 32-1-104.5(3)(X), C.R.S., the following general explanation in plain, nontechnical language, is provided. This information is intended to be read in conjunction with all applicable legal requirements, governing documents, agreements, resolutions, and determinations of the Boards of Directors of the Districts.
1. A metropolitan district is a special district that provides any two or more of the following services:
(a) Fire protection;
(b) Mosquito control;
(c) Parks and recreation;
(d) Safety protection;
(e) Sanitation;
(f) Solid waste disposal facilities or collection and transportation of solid waste;
(g) Street improvement;
(h) Television relay and translation;
(i) Transportation; and
(j) Water.
2. In accordance with the Districts’ Service Plan, the Districts may provide the following public improvements and services:
(a) Fire protection (subject to certain limitations);
(b) Mosquito control;
(c) Parks and recreation;
(d) Safety protection;
(e) Sanitation;
(f) Solid waste disposal facilities or collection and transportation of solid waste;
(g) Street improvement;
(h) Television relay and translation (subject to certain limitations);
(i) Transportation;
(j) Water;
(k) Covenant enforcement; and
(l) Security Services.
The Districts currently anticipate undertaking construction of the following categories of public improvements: streets, sanitation, water, drainage, and parks and recreation.
The Districts do not currently provide any ongoing services.
3. In accordance with the Districts’ Service Plan, the total amount of debt the Districts can incur to provide and pay for public infrastructure is $110,000,000 in total aggregate principal amount.
4. In accordance with the Districts’ Service Plan, the following revenue may be used to pay for the Districts’ debt as follows: from any and all legally available revenues of the Districts, including general ad valorem taxes to be imposed upon all taxable property within the Districts and various other revenue sources authorized by law, such as interest, specific ownership taxes, advances from the Project developer and grants. The District is also authorized to assess and collect a District Facility Fee, SID Assessments and any other, fees, rates, tolls, penalties or charges approved by the City in accordance with the Districts’ Service Plan.
5. In accordance with the Districts’ Service Plan, the maximum mill levy a District may assess to pay for its debt is as follows:
The Maximum Debt Mill Levy is sixty (60) mills less the number of mills imposed by the District for operations and maintenance purposes, such that the Maximum Aggregate Mill Levy is not exceeded; provided that if, on or after January 1, 2007, there are changes in the method of calculating assessed valuation or any constitutionally mandated tax credit, cut or abatement; the mill levy limitation applicable to such Debt may be increased or decreased to reflect such changes, such increases or decreases to be determined by the Board in good faith (such determination to be binding and final) so that to the extent possible, the actual tax revenues generated by the mill levy, as adjusted for changes occurring after January 1, 2007, are neither diminished nor enhanced as a result of such changes. For purposes of the foregoing, a change in the ratio of actual valuation shall be deemed to be a change in the method of calculating assessed valuation.
6. Residents may serve on the Board of Directors of each of the Districts if they are eligible electors of the District. A resident is an eligible elector of a District if the resident lives within the boundaries of the District and is registered to vote in Colorado.