Metropolitan District - General Explanation
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 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;
(j) Water;
(k) Covenant enforcement.
2. In accordance with the Districts’ Service Plan, the Districts 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; and
(k) Covenant enforcement.
The Districts have not initiated construction of public improvements.
The Districts do not currently provide any ongoing services.
3. In accordance with the Districts’ Service Plan, the total amount of debt the District can incur to provide and pay for public infrastructure is an aggregate of Ninety Million Dollars ($90,000,000), provided that the foregoing shall not include the principal amount of Debt issued for the purpose of refunding or refinancing lawfully issued Debt.
4. In accordance with the Districts’ Service Plan, the following revenue may be used to pay for the District’s debt: All bonds and other Debt issued by the Districts may be payable from any and all legally available revenue of the Districts, including general ad valorem taxes and Fees to be imposed upon all taxable property of the Districts. The Districts will also rely upon various other revenue sources authorized by law. These will include the power to assess Fees, rates, tolls, penalties, or charges as provided in the Special District Act or other State statutes. No District will be allowed to impose a sales tax.
5. In accordance with the Districts’ Service Plan, the maximum mill levy the Districts may assess to pay for debt is:
The Maximum Debt Mill Levy shall be the maximum mill levy a District is permitted to impose upon the taxable property of the District for payment of Debt, and shall be determined as follows:
1. For Residential Districts the Maximum Debt Mill Levy shall be calculated as follows:
(a) The Maximum Debt Mill Levy shall be 30 mills; provided that if, on or after
January I, 2006, 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 of the issuing District in good faith (such determination to be binding and final) so that to the extent possible, the actual tax revenue generated by the mill levy, as adjusted for changes occurring after January I, 2006, 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.
(b) At such time as the Debt to Actual Market Value Ratio within the District
is equal to or less than three percent (3%), the Board may request City Council approval for the right to pledge such mill levy as is necessary to pay the Debt service on such Debt, without limitation of rate. At the time of such request, a majority of the members of the Board must consist of homeowners owning property within the District. Once Debt has been determined to meet the above criterion, 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 Actual Market Value Ratio.
2. For Commercial Districts the Maximum Debt Mill Levy shall be calculated as
follows:
(a) The Maximum Debt Mill Levy shall be 50 mills; provided that if, on or after
January I, 2006, 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 of the issuing District in good faith (such determination to be binding and final) so that to the extent possible, the actual tax revenue generated by the mill levy, as adjusted for changes occurring after January I, 2006, 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.
To the extent that a District is composed of or subsequently organized into one
or more subdistricts as permitted under Section 32-1-110 I, C.R.S., the term "District" as used in this Section. shall be deemed to refer to the District and to each such subdistrict separately, so that each of the subdistricts shall be treated as a separate, independent district for purposes of the application of this Section.
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 such District and is registered to vote in Colorado.