Westend Ridge Metropolitan District

In accordance with Section 32-1-104.5(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;

(j) Water.

2.  In accordance with the District’s Service Plan, the District may provide the following public improvements and services:

(a) Fire protection (subject to certain limitations);

(b) Parks and recreation (subject to certain limitations);

(c) Safety protection;

(d) Sanitation (subject to certain limitations);

(e) Solid waste disposal facilities or collection and transportation of solid waste;

(f) Street improvement;

(g) Television relay and translation (subject to certain limitations);

(h) Transportation;

(i) Water (subject to certain limitations); 

(j) Covenant enforcement; and

(k) Security (subject to certain limitations).

The District anticipates undertaking construction of the following categories of public improvements: water, sewer, streets, landscaping, and storm water improvements.

The District does not currently provide any ongoing 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 Fifteen Million Dollars ($15,000,000).

4.  In accordance with the District’s Service Plan, the following revenue may be used to pay for the District’s debt: any and all legally available revenues of the District, including general ad valorem taxes and Fees to be imposed upon all Taxable Property within the District, as the Board may deem appropriate. The District may also rely upon various other revenue sources authorized by law.

5.  In accordance with the District’s Service Plan, the maximum mill levy the District may assess to pay for its debt is as follows:

1.   To the extent permitted by Section 32-1-1101(6), C.R.S., for the proportion of any aggregate Debt which exceeds fifty percent (50%) of the District’s assessed valuation, the Maximum Debt Mill Levy for such portion of Debt shall be 50.000 mills less the number of mills necessary to pay unlimited mill levy Debt described in Section VI.C.2 below; provided that if, on or after January 1, 2022, there are changes in the method of calculating assessed valuation or any constitutionally mandated tax credit, cut or abatement, the mill levy limitation applicable to such Debt may be increased or decreased to reflect such changes, such increases or decreases to be determined by the Board in good faith (such determination to be binding and final) so that to the extent possible, the actual tax revenues generated by the mill levy, as adjusted for changes occurring after January 1, 2022, are neither diminished nor enhanced as a result of such changes. For purposes of the foregoing, a change in the ratio of valuation for assessment of residential real property or other taxable property shall be deemed to be a change in the method of calculating assessed valuation.

2.  To the extent permitted by Section 32-1-1101(6), C.R.S., for the portion of any aggregate Debt which is equal to or less than fifty percent (50%) of the District’s assessed valuation, either on the date of issuance or at any time thereafter, the mill levy to be imposed to repay such portion of Debt shall not be subject to the Maximum Debt Mill Levy and, as a result, the mill levy may be such amount as is necessary to pay the debt service on such Debt, without limitation of rate or amount.

3.   For purposes of the foregoing, once Debt has been determined to be within Section 2 above, so that the District is authorized to pledge to its payment an unlimited mill levy, the District may provide that such Debt shall remain secured by such unlimited mill levy, notwithstanding any subsequent change in the District’s Debt to assessed value ratio.

6.  Residents may serve on the Board of Directors of a District if they are eligible electors of that District. A resident is an eligible elector of a District if the resident lives within the boundaries of the District and is registered to vote in Colorado.