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 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.
2. In accordance with the District’s Service Plan, the District 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; and
(j) Covenant Enforcement.
The District does not currently anticipate undertaking construction of any public improvements at this time.
The District does not currently provide any ongoing services. Except for park and recreation improvements, the District shall not be authorized to operate and maintain any part or all of the Public Improvements unless the provision of such operation and maintenance is pursuant to the Intergovernmental Agreement with the City of Dacono.
3. In accordance with the District’s Service Plan, the total aggregate principal amount of debt the District can incur to provide and pay for public infrastructure is:
The District shall not issue Debt in excess of Twenty Million and No/100s Dollars ($20,000,000.00) total aggregate principal amount, provided that such limitation shall not be applicable to refunding Debt issued by the District to refund outstanding Debt.
4. In accordance with the District’s Service Plan, the following revenue may be used to pay for the District's debt (with each defined term holding the meaning set forth in the District’s Service Plan):
The District 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 expenses. The District may also rely upon various other revenue sources authorized by law. At the District’s discretion, these may include the power to assess Fees as provided in Section 32-1-1001(1), C.R.S., as amended from time to time and as limited by the Service Plan, and the District may impose Special Assessments as provided in Section 32-1-1101.7, C.R.S. and in accordance with the Service Plan.
5. In accordance with the District’s Service Plan, the maximum mill levy the District may assess to pay for its debt is as follows (with each defined term holding the meaning set forth in the District’s Service Plan):
The Limited Mill Levy means the ad valorem mill levy (a mill being equal to 1/10th of 1 cent) the District is permitted to impose upon the Taxable Property within the District for payment of Debt and Operations and Maintenance Costs, which Limited Mill Levy shall not exceed fifty (50) mills, or sixty-five (65) mills in the event the District provides Enhanced Infrastructure; provided, however, that if, on or after January 1, 2023, there are changes in the method of calculating assessed valuation or any constitutionally mandated tax credit, cut, or abatement, the Limited Mill Levy 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 Limited Mill Levy, as so adjusted, are neither diminished nor enhanced as a result of such changes. For purposes of the foregoing, a change in the method of calculating assessed valuation. No Limited Mill Levy shall be imposed until a Final Plat approval has been obtained.
6. Residents may serve on the Board of Directors of the District if they are eligible electors of the District. A resident is an eligible elector of the District if the resident lives within the boundaries of the District and is registered to vote in Colorado.