HB25-1219 Metro District Information

Description

Canyon Pines Metropolitan District HB 25-1219 Compliance ISP recommends the following language be added to the District’s website on a new tab under “Governance” or “Financial” called “Metropolitan District – General Explanation” for compliance with requirements of Section 32-1-104.5(3)(a)(X), C.R.S.: 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. 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; and (j) Water. 2. In accordance with the District’s Service Plan, the District may provide the following public improvements and services: (a) Fire protection; (b) Mosquito control; (c) Parks and recreation; (d) Safety protection; (e) Sanitation; (f) Storm water; (g) Street improvement; (h) Television relay and translation; (i) Transportation; and (j) Water. The Districts anticipates undertaking construction of the following categories of public improvements: (a) Streets improvement; (b) Water; (c) Sanitation; and (d) Storm water. The District provides the following ongoing services: snow removal and parks and recreation services. 3. 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 Twenty One Million Three Hundred and Two Thousand Dollars ($21,302,000) provided that the foregoing does not include the principal amount of indebtedness that has been refunded by the issuance of refunding obligations. 4. In accordance with the District’s Service Plan, the following revenue may be used to pay for the District’s debt: Although the mill levy may vary depending on each Board's decision to fund the projects contemplated in this Service Plan, it is estimated that a mill levy of forty (40) mills will produce revenue sufficient, together with other funds available, to support the Districts' operations and maintenance and debt service through the bond repayment period.