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 Board of Directors of the District.
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 District’s Service Plan, the District 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
- Security
- Covenant Enforcement
The District anticipates undertaking or has undertaken the construction of the following categories of public improvements:
- Wastewater System;
- Storm Drainage;
- Portable Water System;
- Non-Potable Irrigation Water Systems;
- Street System and Traffic Safety; and
- Park and Recreation.
The District 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.
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 as follows: $12,000,000.
All Debt issued by the District may be payable from any and all legally available revenues of the District, including general ad valorem taxes to be imposed upon all taxable property within the District.
In accordance with the District’s Service Plan, the maximum mill levy the District may assess to pay for its debt is as follows:
The maximum mill levy the Districts may impose for the payment of Debt and operations and maintenance expenses shall be 45 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 collective tax liability of property owners within the District neither increases nor decreases as a result of any such changes, thereby maintaining a constant level of tax receipts of the District and overall tax payments from property owners.
Residents within the 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.