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 Board 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;
(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 (subject to certain limitations);
(d) Safety protection;
(e) Sanitation;
(f) Solid waste disposal facilities or collection and transportation of solid waste;
(g) Street improvements;
(h) Television relay and translation (subject to certain limitations);
(i) Transportation;
(j) Water and
(k) Covenant Enforcement.
District No. 3 has completed the construction of the following categories of public improvements: streets, water, sanitation, safety protection, and transportation.
The Districts anticipate that District No. 3 will provide the following ongoing services: street improvements, traffic and safety controls, retaining walls, park and recreation improvements and facilities, trails, open space, landscaping, drainage improvements, irrigation system improvements, and all necessary equipment and appurtenances incident thereto that are not otherwise required to be dedicated to the City or other public entity.
3. In accordance with the Districts’ Service Plan, the total aggregate principal amount of debt the Districts can incur to provide and pay for public infrastructure is:
The Districts shall not issue Debt in excess of Eighty Million Dollars ($80,000,000) in the aggregate; provided, however, that any Debt issued by the Districts for Regional Improvements shall not be included within this limitation and shall be subject to the limitations in the Districts’ Service Plan.
4. In accordance with the District’s Service Plan, the following revenue may be used to pay for the District's debt:
Each of the Districts may impose a mill levy on taxable property within its boundaries as a primary source of revenue for repayment of debt service and for operations and maintenance. The Districts may also rely upon various other revenue sources authorized by law. At the Districts’ discretion, these may include the power to assess Fees, rates, tolls, penalties, or charges as provided in Section 32-1-1001(l), C.R.S., as amended from time to time. In no event shall the debt service mill levy in any District exceed the Maximum Debt Mill Levy or, for residential property within a District, the Maximum Debt Mill Levy Imposition Term, except pursuant to an intergovernmental agreement between the Operating District and the City for Regional Improvements.
5. In accordance with the District’s Service Plan, the maximum mill levy a District may assess to pay for its debt is as follows (with each defined term holding the meaning set forth in the Districts’ Service Plan):
1. For the portion of any aggregate Debt which exceeds fifty percent (50%) of the District’s assessed valuation, the Maximum Debt Mill Levy for such portion of Debt shall be fifty (50) mills less the number of mills necessary to pay unlimited mill levy Debt described in Section 2 below; provided that if, on or after January 1, 2004, 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, 2004, 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.
2. For the portion of any aggregate Debt which is equal to or less than fifty percent(50%) of the District’s assessed valuation, either on the date of issuance or at any time thereafter, the mill levy to be imposed to repay such portion of Debt shall not be subject to the Maximum Debt Mill Levy and, as a result, the mill levy may be such amount as is necessary to pay the Debt service on such Debt, without limitation of rate.
3. For purposes of the foregoing, once Debt has been determined to be within Section 1 above, so that the District is entitled to pledge to its payment an unlimited ad valorem mill levy, such District may provide that such Debt shall remain secured by such unlimited mill levy, notwithstanding any subsequent change in such District’s Debt to assessed ratio. All Debt issued by the Districts must be issued in compliance with the requirements of Section 32-1-1101, C.R.S. and all other requirements of State law.
6. Residents may serve on the Board of Directors of a District if they are eligible electors of such District. A resident is an eligible elector of a District if the resident lives within the boundaries of such District and is registered to vote in Colorado.