Serratoga Falls Metropolitan District No. 1

For District Overview (per Sec. 32-1-104.5(3)(a)(X), C.R.S.)

Serratoga Falls Metropolitan District No. 1 is a local government that provides certain public improvements and services for the Serratoga Falls 1 community.

Public Improvements and Services

The District is authorized by the Special District Act and its Service Plan to provide various public improvements and services, including streets and related safety controls, water and sewer systems, storm drainage facilities, parks, trails, and recreation amenities, as well as covenant enforcement and design review.

Maximum Debt Authorization

The District is authorized by its Service Plan to issue a maximum of $25,000,000 in general obligation bonds and/or revenue bonds.  The District issued its Senior General Obligation Limited Tax General Bond , Series 2023A, in the aggregate principal amount of $14,567,000 on September 20, 2023. Additionally, a Subordinate General Obligation Limited Tax(Tax Convertible to Tax-Exempt) Bond, Series 2023B, in the aggregrate amount of $8,755,000  has yet to be drawn on resulting in an initial par amount of $0.00 as of the series   2023A issuance date.

Authorized Sources for Debt Repayment

The District is authorized to repay its general obligation debt from any and all legally available revenues of the District, including general ad valorem taxes.

Maximum Mill Levy for Debt Repayment

The District’s Service Plan imposes a Maximum Debt Mill Levy of 50 mills, which, together with the operations and maintenance mill levy, may increase to a total of 60 mills if the District’s total aggregate debt is equal to or less than 50% of its assessed valuation, subject to adjustment as described in the Service Plan.

Board Member Qualifications

The District holds regular elections for board members on the first Tuesday after the first Monday in May of each odd-numbered year. A person is qualified to be a candidate if they are a registered to vote under the Colorado Uniform Election Code of 1992 and are either (1) a resident of the District, or (2) the owner (or spouse or civil union partner of an owner) of taxable real or personal property within the District.  People interested in a position on the District’s Board of Directors may contact the District’s Manager for further information:

Centennial Consulting Group

2619 Canton Court, STE A

Fort Collins, Co 80525

Phone: 970-484-0101

Email: info@ccgcolorado.com