GEOS Neighborhood 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; and

(j) Water.

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 currently undertaking construction of the following categories of public improvements: parks and recreation, sanitation, street improvement, and water.

The District provides the following ongoing services on behalf of the District for all or a portion of the community: internet, snow removal, landscaping and irrigation, compost removal, covenant enforcement and design review.

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 Five Million Dollars ($5,000,000) in the aggregate principal amount and not including the principal amount which has been refunded by the issuance of refunding debt.

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 of the District.

5.  In accordance with the District’s Service Plans, the maximum mill levy the District may assess to pay for its debt is: forty (40) mills; provided that if, on or after January 1, 2007, 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, 2007, are neither diminished nor enhanced as a result of such changes. For purposes of the foregoing, a change in the ratio of actual 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.

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.