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.
A metropolitan district is a special district that provides any two or more of the following services:
- Fire protection;
- Mosquito control;
- Parks and recreation;
- Safety protection;
- Sanitation;
- Solid waste disposal facilities or collection and transportation of solid waste;
- Street improvement;
- Television relay and translation;
- Transportation; and
- Water.
In accordance with the Districts’ Service Plan, the Districts may provide the following public improvements and services:
- Sanitation and Storm Drainage
- Water
- Streets
- Traffic and Safety Controls
- Parks and Recreation
- Transportation
- Television Relay and Translator
- Mosquito and Pest Control
The Districts anticipate undertaking or have undertaken construction of the following categories of public improvements:
- Wastewater System;
- Storm Drainage;
- Water Systems;
- Street System and Traffic Safety; and
- Park and Recreation.
The Districts will provide the following ongoing services: operation and maintenance services for the above listed public improvements that are not dedicated to the City of Loveland.
By separate agreement, District No. 1 is anticipated to provide for the construction, operation and maintenance of the public improvements, and District No. 2 and No. 3 will assist in providing District No. 1 with funding for the public improvements and services.
- In accordance with the Districts’ Service Plan, the total amount of debt the Districts can incur to provide and pay for public infrastructure is as follows:
The total combined new money general obligation bond debt limit for the Districts shall be $16,000,000 inclusive of costs of issuance, organizational costs, inflation, and other similar costs.
- In accordance with the Districts’ Service Plan, the following revenue may be used to pay for the Districts’ debt:
All bonds issued by the Districts may be payable 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.
- In accordance with the Districts’ Service Plan, the maximum mill levy the Districts may assess to pay for debt is as follows:
The maximum mill levy each District may impose for the payment of general obligation debt and for operations and maintenance shall be 40 mills (the “Mill Levy Cap”). The Mill Levy Cap shall be subject to adjustment if the laws of the State change with respect to the assessment of property for taxation purposes, the ratio for determining assessed valuation changes, or other similar changes occur. In any of these events, the Mill Levy Cap shall be automatically adjusted so that the tax liability of individual property owners neither increases nor decreases as a result of any such changes, thereby maintaining a constant level of tax receipts of the Districts and overall tax payments from property owners.
- Residents within each District 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.