34 9.5 Metropolitan District

HB 25-1219 Compliance

In accordance with Section 32-104.5(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 Board of Directors of the District.

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;

(j) Water;

(k) Covenant enforcement.

2.  In accordance with the District’s Service Plan, the District may provide the following public improvements and services:

(a) Fire protection;

(b) Mosquito control;

(c) Parks and recreation (subject to certain limitations);

(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;

(j) Water (subject to certain limitations); and

(k) Covenant enforcement.

The District does not currently anticipate directly undertaking construction of public improvements.

The District does not currently provide any ongoing services. The District is authorized to provide ongoing services related to: mosquito control, parks and recreation, safety protection, street landscaping, television relay and translation, covenant enforcement and design review, and transportation.

3.  In accordance with the District’s Service Plan, the total amount of debt the District can incur to provide and pay for public infrastructure is Thirty-Two Million Three Hundred Thousand Dollars ($32,300,000), provided the foregoing shall not include the principal amount of debt which has been refunded by the issuance of refunding debt.

4.  In accordance with the District’s Service Plan, the following revenue may be used to pay for the District’s debt: All Debt issued by the District may be payable from any and all legally available revenues of the District, as set forth in the Service Plan, including ad valorem property taxes.

5.  In accordance with the District’s Service Plan, the maximum mill levy the District may assess to pay for its debt is: forty (40) mills subject to the Mill Levy Adjustment. The Mill Levy Adjustment means if there are changes in the method of calculating assessed valuation or any constitutionally mandated tax credit, cut or abatement, the applicable mill levy limitation may be increased or decreased to reflect such changes, such increases and 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 applicable mill levy, as adjusted for changes occurring on or after July 27, 2020 (the date of approval of the Service Plan) (or for purposes of the Town O&M Mill Levy, changes occurring on or after March 1, 2020), are neither diminished nor enhanced as a result of such changes. For purposes of the foregoing, a change in the ratio of actual valuation and any constitutional or legislative changes in the actual values against which the assessment rate is applied shall be deemed to be a change in the method of calculating assessed valuation.

6.  Residents may serve on the Board of Directors of a District if they are eligible electors of that 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.