HB25-1219 – Spring Valley MD No. 1

Description

Spring Valley Metropolitan District No. 1 is a Title 32 Special District that has been established for the purpose of financing and installing water, sanitation, street, safety protection, transportation, television relay and translation, mosquito control, park and recreation and limited fire protection facilities improvements and services within and without the boundaries of the District; and all other improvements or services permitted by Article 1, Title 32, C.R.S. (collectively, the “Public Improvements and Services”), except as specifically limited by the Amended and Restated Service Plan for the District approved by the Elbert County Board of County Commissioners on March 10, 2004, as it may be amended from time to time (the “Service Plan”). The Public Improvements and Services are for the use and benefit of the residents, taxpayers and users of the District and Spring Valley Metropolitan District Nos. 2-6. The District is located in Elbert County, Colorado. The District is a quasi-municipal political subdivision of the State of Colorado authorized to provide specialized services that Elbert County does not provide. The District may incur a maximum debt of $35,000,000; and together with Spring Valley Metropolitan District Nos. 2-6, may incur a maximum debt of $250,000,000 in the aggregate. Revenue bonds, ad valorem tax revenues, and tap fees may be used to repay such debt. The District may assess a maximum mill levy of 50 mills, as adjusted after March 10, 2004, to repay such debt. The District must file an Annual Report to the Elbert County Clerk & Recorder. The District’s boundaries overlap with the boundaries of Elbert County; Elizabeth School District; Rattlesnake Fire Protection District; Elizabeth Park & Recreation District; Elbert County Library; and Kiowa Soil Conservation Fund. If interested in serving on the District’s contact@publicalliance.comfor more information. Board of Directors, please contact For information regarding the system or process to contact someone associated with the District during regular business hours and outside of regular business hours, please contact (720) 2136621.