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) Sanitation;

(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) Water;

(b) Sanitation;

(c) Streets;

(d) Parks and recreation;

(e) Traffic and Safety Controls

(f) Transportation;

(g) Telecommunication systems and services;

(h) Mosquito and pest control.

The District currently anticipates undertaking construction of the following categories of public improvements: Streets, water, sewer, stormwater drainage, detention, and parks and recreation improvements.

The District currently anticipates providing the following ongoing services: drainage system maintenance.

3.  The District’s Service Plan does not provide for a maximum principal amount of debt that District may incur to provide and pay for public infrastructure but requires that it comply with Section 11.02.110 of the Town of Castle Rock Code which requires the District submit any proposed financing to the Town for review and comment.  As of the issuance of the District’s last series of bonds in 2024, the District had $32,254,00 in principal amount of debt outstanding and does not anticipate issuing additional debt.

4.  In accordance with the District’s Service Plan, the following revenue may be used to pay for the District's debt:  ad valorem property taxes, specific ownership taxes, and other revenue sources authorized by law. These include fees, rates, tolls, penalties and charges as provided in Section 32-1-1001(1), C.R.S.

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:

The District may issue general obligation bonds only if the mill levy pledged for repayment of the Bonds (together with the mill levy pledge on any other  general obligations of the District, including any subordinate bonds issued by the District) will not exceed fifty (50) mills(adjusted from base year 2004 to take into account legislative or constitutionally imposed adjustments in assessed values or the method of their calculation, or any mandated tax credit, cut or abatement, so that the extent possible the actual tax revenues generated by the mill levy and available for debt service, as adjusted, are neither diminished nor enhanced as a result of such determination (the “Mill Levy Cap”).

6.  Residents 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.