HB25-1219 – Spring Valley MD No. 3

Description

Spring Valley Metropolitan District No. 3 is a Title 32 Special District that has been established for the purpose of financing and installing park and recreation, street, safety protection, transportation, television relay and translation, mosquito control, water, sanitation, and fire protection improvements 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 Service Plan for the District approved by Elbert County on January 28, 2004, as modified by the First Modification, approved by the Elbert County Board of County Commissioners on July 6, 2005, as it may be further amended from time to time (the “Service Plan”). The Public Improvements and Services are for the use and benefit of the residents and taxpayers of the District. 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. 1, 2, and 4-6, may incur a maximum debt of $250,000,000 in the aggregate. The District may assess a mill levy on taxable property within its boundaries, and may use interest income through the reinvestment of construction funds, capitalized interest, and annual tax receipts 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.com for 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.