District Overview

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

Iliff Commons Metropolitan District No. 2 is a local government that provides certain public improvements and services to property within its boundaries.  The District was organized in 2005 and operates pursuant to § 32-1-101, et seq., C.R.S. (the “Special District Act”) and its Service Plan dated August 1, 2005 (the “Service Plan”).

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, but not limited to streets, traffic and safety controls, street lighting, landscaping storm drainage and water facilities.  The District participated in the financing and construction of certain public improvements have been conveyed to other public entities to operate and maintain.

Maximum Debt Authorization

The District is authorized by its Service Plan to issue debt in an amount not to exceed $6,810,000.

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, fees, rates, tolls, penalties, and charges.

Maximum Mill Levy for Debt Repayment

The District’s Service Plan imposes a Maximum Debt Mill Levy cap of 50 mills for the portion of debt that exceeds fifty percent of the District’s assessed valuation less the number of mills necessary to pay unlimited mill levy debt as described in the Service Plan.  The Maximum Debt Mill Levy is 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 for election or appointment on the Board if they are an “eligible elector,” as defined in C.R.R. § 32-1-103(5).  People interested in a position on the District’s Board of Directors may contact the District’s legal counsel for further information:

Seter, Vander Wall & Mielke, P.C.
7400 E. Orchard Road, Suite 3300
Greenwood Village, CO 80111
Phone: (303) 770-2700
Email: svw@svwpc.com