Kiteley Ranch Metropolitan District

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.

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;

(k) Covenant enforcement.

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

(k) Covenant enforcement.

The District is undertaking construction of the following categories of public improvements: stormwater, sanitation, street improvement, and water.

The District does not currently provide 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 Thirty Million Dollars ($30,000,000).

4.  In accordance with the District’s Service Plan, the following revenue may be used to pay for the District’s debt: All 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 within the District. The District may also rely upon various other revenue sources authorized by law. These may include the power to assess fees, rates, tolls, penalties or 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: The Maximum Debt Mill Levy shall be the maximum mill levy the District is permitted to impose upon the taxable property within the District for payment of Debt, and shall be fifty (50) mills; provided that if, on or after January 1, 2006, there are changes with respect to the assessment of property for taxation purposes, in the method of calculating assessed valuation or any constitutionally mandated tax credit, cut or abatement or any similar changes, 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 on or after January 1, 2006, 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 and any constitutional or legislative changes in the actual value against which the assessment rate is applied shall be deemed to be a change in the method of calculating assessed valuation. All Debt issued by the District must be issued in compliance with the requirements of Section 32-1-1101, C.R.S., and all other requirements of state law.

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.