Prairie Farm Metropolitan District

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

Prairie Farm Metropolitan District is a local government that provides certain public improvements and services for the community it serves.

Public Improvements and Services

The District is authorized by the Special District Act and its Service Plan to provide financing, acquisition, and construction of certain essential public purpose facilities. The District is authorized to provide various public improvements and services, including landscaping, storm drainage, streets, parks, and the like.

Maximum Debt Authorization

The District is authorized to issue a maximum of $24,660,000 in general obligation bonds and/or revenue bonds.  The District issued its Limited Tax Convertible to Unlimited Tax Bonds, Series 2018A, in the aggregate principal amount of $9,290,000 and Subordinate Limited Tax General Obligation Bonds, Series 2018B, in the aggregate principal amount of $1,270,000 on September 13, 2018.

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 Mill Levy Cap of 50 mills (45 mills for bond repayment and 5 mills for general operation for the loan repayment term), 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 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