Aviation Station North Metropolitan District No. 5

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;

(j) Water.

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

(a) Street improvements;

(b) Safety protection;

(c) Transportation;

(d) Parks and recreation improvements;

(e) Water improvements (subject to certain limitations);

(f) Sanitation improvements (subject to certain limitations);

(g) Stormwater drainage improvements;

(h) Mosquito control;

(i) Fire protection (subject to certain limitations);

(j) Security;

(k) Covenant enforcement.

The District currently anticipates undertaking construction of the following categories of public improvements: roadways, traffic safety protection, sanitary sewer, water, landscaping, and parks and recreation.

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 $500,000,000 in the aggregate combined for all the Aviation Station North Metropolitan Districts Nos. 1-6 and Smith Metropolitan District Nos. 1-4.

4.  In accordance with the District’s Service Plan, the following revenue may be used to pay for the District's debt:  property tax revenues derived from a mill levy not to exceed the District Debt Mill Levy Cap, specific ownership taxes, System Development Fee revenues, and other rates, fees, tolls, penalties, and charges of the District permitted under State Statutes, and Public Improvement Fee revenues and other revenues pledged to the District.

5.  In accordance with the District’s Service Plan, the maximum mill levy the District may assess to pay for its debt is 50 mills as may be adjusted in accordance with the District’s Service Plan.

6.  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.