About
The AltaColorado Metropolitan Districts were formed and organized in January of 2009 for the purposes of financing, constructing, operating and maintaining public infrastructure for the benefit of properties in the Districts. This includes the planned Gateway Development.
Metropolitan districts are local governments that finance public improvements and provide services to promote the health, safety, prosperity, security, and general welfare of the inhabitants of the districts and the people of the state of Colorado. Metropolitan districts fill the gaps that may exist in services that other local governments will not provide, and the services residents may desire. AltaColorado Metropolitan District Nos. 1-5 (the “Districts”) anticipate providing the following improvements and services: water, sanitation, street improvements, safety protection, traffic safety controls, transportation, and parks and recreation.
Pursuant to the Districts’ Consolidated Service Plan, approved by Board of County Commissioners of Lake County on August 6, 2008 (the “Service Plan”), the Districts are authorized to issue debt not to exceed $30,000,000 and impose a maximum debt mill levy of 50 mills subject to adjustment, as defined in the Service Plan, for repayment of such debt. The Service Plan authorizes the repayment of debt from the following sources: ad valorem taxes, fees, rates, tolls, penalties, or charges.
The Boards of Directors (the “Boards”) govern the Districts. Board members are elected for four-year terms. During election years, the Districts must provide the Call for Nominations to the electors of the Districts noting the Board seats up for election. If an owner or resident would like to run for a Board seat up for election, he or she must submit a self-nomination form to the Designated Election Official by the applicable deadline as provided in the Call for Nominations. When a vacancy occurs on a Board between elections, an owner or resident may contact the District and request to submit a letter of interest to be appointed to Board. When an individual is appointed to the Board, the term for that appointment runs to the next regular election.
To qualify as a director of a district, a person must be an “eligible elector” which is defined as a registered voter of Colorado and either: (1) a resident of the District, or (2) the owner (or the spouse or civil union partner of the owner) of taxable real or personal property located within the District. A person who is under contract to purchase taxable property and is obligated to pay taxes prior to closing is also considered an “owner.”
AltaColorado Metropolitan District Nos. 2-5 are currently on inactive status. AltaColorado Metropolitan District No. 1 files its annual report for the prior year with Lake County.