About
The Hidden Creek Metropolitan District, located in Weld County, CO, was established to provide a part or all of the public improvements for the use and benefit of all anticipated taxpayers of the District. The primary purpose of the District will be to finance the construction of these public improvements.
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.
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.
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) Mosquito control;
(c) Parks and recreation (subject to certain limitations);
(d) Safety protection;
(e) Sanitation (subject to certain limitations);
(f) Solid waste disposal facilities or collection and transportation of solid waste;
(g) Street and roadway improvement (subject to certain limitations);
(h) Television relay and translation (subject to certain limitations);
(i) Transportation;
(j) Water (subject to certain limitations); and
(k) Stormsewer; and
(l) Covenant enforcement.
The District does not currently anticipate undertaking construction of additional public improvements.
The District does not currently provide any ongoing services.
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 Eight Million Dollars ($8,000,000).
In accordance with the District’s Service Plans, the following revenue may be used to pay for the District’s debt: All bonds and other debt issued by the District may be payable from any and all legally available revenues of the District, including general ad valorem taxes to be imposed upon all taxable property of the District. The District will also rely upon various other revenue sources authorized by law. These will include the power to assess fees, rates, tolls, penalties, or charges as provided in Section 32-1-1001(1), C.R.S., as amended from time to time and as limited by the District’s Service Plan.
In accordance with the District’s Service Plan, the maximum mill levy the District may assess to pay for its debt is as follows (with each defined term holding the meaning set forth in the District’s Service Plan):
“Limited Mill Levy” shall mean an ad valorem mill levy (a mill being equal to 1/10 of 1¢) imposed upon all taxable property of the District each year in an amount sufficient to pay the principal of; premium, if any; and interest on Debt as the same become due and payable, and to make up any deficiencies in any debt service reserve for the Debt, but, together with all other District mill levies, including an operational mill levy of Ten (10) mills, such mill levy shall not exceed fifty (50.000) mills; provided that, if on or after January 1, 2015, 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 offset 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, 2015, are neither diminished nor enhanced as a result of such changes. For purposes of the foregoing, a change in the ratio of actual valuation to assessed valuation shall be deemed to be a change in the method of calculating assessed valuation.
Without increasing the Limited Mill Levy, at any time the District imposes a mill levy for debt service purposes, the District shall impose a mill levy of three (3.000) mills for purposes of financing capital improvements or for financing operations and maintenance expenses associated with Town capital improvements, which revenues shall be remitted to the Town upon the District’s receipt (the “Contribution Mill Levy”). The revenues from the Contribution Mill Levy received by the Town for capital improvements or operation and maintenance expenses may be applied to any Town capital improvement so long as the capital improvement is one that the District could otherwise finance (e.g., water, stormsewer, sanitation and wastewater treatment, street and roadway improvements, traffic and safety control, parks and recreation, transportation, television relay and translator, mosquito and pest control, solid waste disposal, and covenant enforcement). The District’s imposition of the Contribution Mill Levy shall be memorialized in the Intergovernmental Agreement, and the District’s failure to levy and collect the Contribution Mill Levy shall constitute a material modification of this Service Plan. In the event that the District has no debt service mill levy, the District shall have no obligation to levy, collect, and pay over to the Town the Contribution Mill Levy set forth herein.
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.