HomeMy WebLinkAbout2020 Annual Report
TREE FARM METROPOLITAN DISTRICT
ANNUAL REPORT FOR REPORT YEAR 2020
EAGLE COUNTY, COLORADO
This annual report is submitted to Eagle County consistent with Section XII of the
Service Plan for the Tree Farm Metropolitan District (the “District”).
A. Boundary changes made or proposed.
During the report year of 2020, the Board of Directors did not make or propose
any changes to the boundaries of the District.
B. Intergovernmental Agreements with other governmental bodies entered
into or proposed.
During the report year of 2020, the District did not enter into or propose any
intergovernmental agreements with other governmental bodies.
C. Changes or proposed changes in the District's policies.
During the report year of 2020, the District did not make or propose any changes
to its policies.
D. Changes or proposed changes in the District's operations.
During the report year of 2020, the District did not make or propose any changes
to its operations.
E. Any changes in the financial status of the District including revenue
projections, or operating costs.
Financial Status - see attached 2020 budget (Attachment 1), which includes the
District’s estimated revenues and expenditures for the year 2020.
F. A summary of any litigation which involves the District.
During the report year of 2020, the District was not involved in any litigation, and
is not currently involved in any litigation.
G. Proposed plans for the year immediately following the year summarized in
the annual report.
In 2021, the District will continue to plan for the provision of public improvements
and services as set forth in the District’s Service Plan. It is anticipated that the
District may issue bonds to commence and/or support the planning, design and
DN 4901800.1
construction of public improvements in 2021, but as of the date of this report
there are no definite plans or timelines in place.
H. Status of Public Improvement Construction Schedule.
As of the date of this report there are no definite plans or timelines in place
I. Submission of current assessed valuation in the District.
The assessed valuation as certified by Eagle County in 2020 was $548,620.
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ATTACHMENT 1
2020 Budget
27
1
RESOLUTION
TO ADOPT 2020 BUDGET, APPROPRIATE SUMS OF MONEY,
AND AUTHORIZE THE CERTIFICATION OF THE TAX LEVY
TREE FARM METROPOLITAN DISTRICT
A RESOLUTION SUMMARIZING REVENUES AND EXPENDITURES FOR EACH
FUND, ADOPTING A BUDGET, LEVYING GENERAL PROPERTY TAXES FOR
THE YEAR 2020 TO HELP DEFRAY THE COSTS OF GOVERNMENT, AND
APPROPRIATING SUMS OF MONEY TO THE VARIOUS FUNDS IN THE
AMOUNTS AND FOR THE PURPOSES SET FORTH HEREIN FOR THE TREE FARM
METROPOLITAN DISTRICT, EAGLE COUNTY, COLORADO, FOR THE
CALENDAR YEAR BEGINNING ON THE FIRST DAY OF JANUARY, 2020, AND
ENDING ON THE LAST DAY OF DECEMBER, 2020,
WHEREAS, the Board of Directors of the Tree Farm Metropolitan District has
authorized its consultants to prepare and submit a proposed budget to said governing body
at the proper time; and
WHEREAS, the proposed budget has been submitted to the Board of Directors of
the District for its consideration; and
WHEREAS, upon due and proper notice, published or posted in accordance with
the law, said proposed budget was available for inspection by the public at a designated
public office, a public hearing was held on November 19, 2019 and interested electors were
given the opportunity to file or register any objections to said proposed budget; and
WHEREAS, whatever increases may have been made in the expenditures, like
increases were added to the revenues or planned to be expended from reserves or fund
balances so that the budget remains in balance, as required by law; and
WHEREAS, the amount of money necessary to balance the budget for general
operating purposes from property tax revenue is $2,485; and
WHEREAS, the Board of Directors finds that it is required to temporarily lower
the operating mill levy to render a refund for $0.00; and
WHEREAS, the amount of money necessary to balance the budget for voter-
approved bonds and interest is $8,697; and
WHEREAS, the amount of money necessary to balance the budget for contractual
obligation purposes from property tax revenue as approved by voters from property tax
revenue is $0.00; and
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DN 3869882.1
WHEREAS, the amount of money necessary to balance the budget for capital
expenditure purposes from property tax revenue as approved by voters or at public hearing
is $0.00; and
WHEREAS, the amount of money necessary to balance the budget for
refunds/abatements is $0.00; and
WHEREAS, the 2019 valuation for assessment for the District as certified by the
County Assessor of Eagle County is $248,490; and
WHEREAS, at an election held on November 6, 2018, the District has eliminated
the revenue and expenditure limitations imposed on governmental entities by Article X,
Section 20 of the Colorado Constitution and Section 29-1-301, C.R.S., as amended.
NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF DIRECTORS
OF THE TREE FARM METROPOLITAN DISTRICT OF EAGLE COUNTY,
COLORADO:
Section 1. Adoption of Budget. That the budget as submitted, and attached
hereto and incorporated herein by this reference, and if amended, then as amended, is
hereby approved and adopted as the budget of the Tree Farm Metropolitan District for
calendar year 2020.
Section 2. Budget Revenues. That the estimated revenues for each fund as
more specifically set out in the budget attached hereto are accepted and approved.
Section 3. Budget Expenditures. That the estimated expenditures for each fund
as more specifically set out in the budget attached hereto are accepted and approved.
Section 4. Levy of General Property Taxes. That the Board of Directors does
hereby certify the levy of general property taxes for collection in 2020 as follows:
A. Levy for General Operating and Other Expenses. That for the
purposes of meeting all general operating expense of the District during the 2020 budget
year, there is hereby levied a tax of 10.000 mills upon each dollar of the total valuation of
assessment of all taxable property within the District for the year 2019.
B. Temporary Tax Credit or Rate Reduction. That pursuant to Section
39-1-111.5, C.R.S. for the purposes of effect of a refund for the purposes set forth in
Section 20 of Article X of the Colorado Constitution, there is hereby certified a temporary
property tax credit or temporary mill levy rate reduction of 0.000 mills upon each dollar of
the total valuation of assessment of all taxable property within the boundaries of the District
for the year 2019.
C. Levy for General Obligation Bonds and Interest. That for the
purposes of meeting all debt retirement expense of the District during the 2020 budget year,
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as the funding requirements of the current outstanding general obligation indebtedness is
detailed in the following "Certification of Tax Levies," there is hereby levied a tax of
35.000 mills upon each dollar of the total valuation for assessment of all taxable property
within the District for the year 2019.
D. Levy for Contractual Obligations. That for the purposes of meeting
the contractual obligation expense of the District during the 2020 budget year, as detailed
in the following "Certification of Tax Levies," there is hereby levied a tax of 0.000 mills
upon each dollar of the total valuation for assessment of all taxable property within the
District for the year 2019.
E. Levy for Capital Expenditures. That for the purposes of meeting all
capital expenditures of the District during the 2020 budget year pursuant to Section 29-1-
301(1.2) or 29-1-302(1.5), C.R.S., there is hereby levied a tax of 0.000 mills upon each
dollar of the total valuation of assessment of all taxable property within the boundaries of
the District for the year 2019.
F. Levy for Refunds/Abatements. That for the purposes of recoupment
of refunds/abatements of taxes pursuant to Section 39-10-114(1)(a)(I)(B), C.R.S., there is
hereby levied a tax of 0.000 mills upon each dollar of the total valuation of assessment of
all taxable property within the boundaries of the District for the year 2019.
Section 5. Property Tax and Fiscal Year Spending Limits. That, being fully
informed, the Board finds that the foregoing budget and mill levies do not result in a
violation of any applicable property tax or fiscal year spending limitation.
Section 6. Certification. That the appropriate officers of the District are hereby
authorized and directed to certify by December 15, 2019, to the Board of County
Commissioners of Eagle County, Colorado, the mill levies for the District herein above
determined and set, or be authorized and directed to certify to the Board of County
Commissioners of Eagle County, Colorado, as herein above determined and set, but as
recalculated as needed upon receipt of the final certification of valuation from the County
Assessor on or about December 10, 2019 in order to comply with any applicable revenue
and other budgetary limits or to implement the intent of the District. That said certification
shall be in substantially the form set out and attached hereto and incorporated herein by
this reference.
Section 7. Appropriations. That the amounts set forth as expenditures and
balances remaining, as specifically allocated in the budget attached hereto, are hereby
appropriated from the revenue of each fund, to each fund, for the purposes stated and no
other.
DN 3869882.1
ATTACH COPY OF THE ADOPTED BUDGET AND
THE CERTIFICATION OF TAX LEVIES
TREE FARM METROPOLITAN DISTRICT
2020 BUDGET MESSAGE
Tree Farm Metropolitan District is a quasi-municipal corporation organized and operated
pursuant to provisions set forth in the Colorado Special District Act. The District was
established to provide for all or part of the Public Improvements, as defined in the district’s
Service Plan, for the use and benefit of all anticipated inhabitants and taxpayers of the district.
The primary purpose of the district is to finance the construction and fund the ongoing operation
of these Public Improvements.
The District has no employees and all operations and administrative functions are contracted.
The following budget is prepared on the modified accrual basis of accounting, which is
consistent with the basis of accounting used in presenting the District's financial statements.
2020 BUDGET STRATEGY
The District’s primary responsibility will be fund the costs for public infrastructure through the
issuance of bonds. The District will also continue to pay general and administrative expenses
with shortfalls in available funding being funded by Developer advances.
Tree Farm Metropolitan DistrictPrint Date: 12/28/2019Statement of Revenues, Expenditures, & Changes In Fund BalanceModified Accrual Basis For the Period Indicated2019 2019YTD Thru YTD Thru Variance 20202018 Adopted Amended 2019 08/31/1908/31/19 Positive AdoptedActualBudgetBudgetForecastActualBudget(Negative)BudgetBudget Notes/AssumptionsPROPERTY TAXESAssessed Valuation - 263,620 263,620 263,620 248,490 November Final ValuationMill Levy - General Fund- 10.000 10.000 10.000 10.000 Based on 2019 LevyMill Levy - Debt Service Fund- 35.000 35.000 35.000 35.000 Based on 2019 LevyTotal- 45.000 45.000 45.000 45.000 Property Tax Revenue - General Fund- 2,636 2,636 2,636 2,485 AV * Mills / 1,000Property Tax Revenue - Debt Service Fund- 9,227 9,227 9,227 8,697 AV * Mills / 1,000Total- 11,863 11,863 11,863 11,182 No assurance is provided on these financial statements;substantially all disclosures required by GAAP omitted.Page 2
Tree Farm Metropolitan DistrictPrint Date: 12/28/2019Statement of Revenues, Expenditures, & Changes In Fund BalanceModified Accrual Basis For the Period Indicated2019 2019YTD Thru YTD Thru Variance 20202018 Adopted Amended 2019 08/31/1908/31/19 Positive AdoptedActualBudgetBudgetForecastActualBudget(Negative)BudgetBudget Notes/AssumptionsCOMBINED FUNDSREVENUEProperty taxes - 11,863 11,863 11,863 11,863 11,863 (0) 11,182 10 mills for ops, 35 for debtSpecific ownership taxes- - 461 593 370 - 370 503 4.5% of Property TaxesInterest & other income- - 100 - - - - - Public Improvement Fees- - - - - - - - No sales in 2020TOTAL REVENUE- 11,863 12,424 12,456 12,233 11,863 370 11,685 EXPENDITURESAdministrationAccounting, Audit, Legal, & Elections- 60,000 60,000 22,500 2,210 33,333 31,123 52,500 See breakout in General FundTreasurer's fees- - 277 356 356 - (356) 335 3 % of property taxesInsurance, office supplies, misc other- 10,000 10,000 522 422 10,000 9,578 6,000 See breakout in General FundContingency / Emergencies- 23,000 23,100 - - 15,333 15,333 20,000 Potential unforeseen needsOperationsSnowplowing Road Maint, & Landscaping- - - - - - - 21,500 See breakout in General FundRaw Water Irrigation System- - - - - - - 3,500 See breakout in General FundSheriff's Subsidy- - - - - - - 60,000 Salary portion of Subsidy payment- vehicle in captialContingency- - - - - - - 15,000 Potential unforeseen needsDebt ServiceBond interest- - - - - - - 110,000 Assume August 1st Issuance DateBond principal- - - - - - - - Trustee Administrative Fee- - - - - - - 2,500 Assume only 1 payment in 2020Debt issuance expense- - - - - - - 240,000 Per 11-08-19 Prelim Bond ModelCapital Outlay/ Organizational Costs- - 26,953 10,953 10,953 - (10,953) 7,194,432 See breakout in Capital FundTOTAL EXPENDITURES- 93,000 120,330 34,331 13,941 58,667 44,726 7,725,767 REVENUE OVER / (UNDER) EXPENDITURE- (81,137) (107,906) (21,875) (1,708) (46,804) 45,096 (7,714,082) OTHER SOURCES / (USES)Developer advances, net of repayments- 100,000 117,542 29,042 6,000 65,666 (59,666) 3,088,709 Net after bonds funds used to partially reimburseBond proceeds- - - - - - - 6,000,000 Per 11-08-19 Prelim Bond ModelTOTAL OTHER SOURCES / (USES)- 100,000 117,542 29,042 6,000 65,666 (59,666) 9,088,709 CHANGE IN FUND BALANCE- 18,863 9,636 7,167 4,292 18,863 (14,571) 1,374,627 BEGINNING FUND BALANCE- 7,000 7,000 - - 7,000 (7,000) 7,167 ENDING FUND BALANCE- 25,863 16,636 7,167 4,292 25,863 (21,571) 1,381,794 See breakout below========COMPONENTS OF FUND BALANCENon-Spendable- - - 1,000 - - - 1,050 Prepaid InsuranceTABOR emergency reserve- 2,790 2,790 693 693 2,790 (2,097) 5,357 3% of operating expendituresRestricted For debt service- 9,227 - - - 9,227 (9,227) 1,370,605 See Debt Service Fund (Reserve, Cap I, & Bond Pmt)Unassigned- 13,846 13,846 5,474 3,599 13,846 (10,247) 4,782 Remaining availableTOTAL ENDING FUND BALANCE- 25,863 16,636 7,167 4,292 25,863 (21,571) 1,381,794 ========No assurance is provided on these financial statements;substantially all disclosures required by GAAP omitted.Page 3
Tree Farm Metropolitan DistrictPrint Date: 12/28/2019Statement of Revenues, Expenditures, & Changes In Fund BalanceModified Accrual Basis For the Period Indicated2019 2019YTD Thru YTD Thru Variance 20202018 Adopted Amended 2019 08/31/1908/31/19 Positive AdoptedActualBudgetBudgetForecastActualBudget(Negative)BudgetBudget Notes/AssumptionsGENERAL FUNDREVENUEProperty Taxes - 2,636 2,636 2,636 2,636 2,636 (0) 2,485 10 millsSpecific Ownership Taxes- - 132 82 - 82 112 4.5% of Property TaxesInterest Income- - - - - - - - TOTAL REVENUE- 2,636 2,636 2,768 2,718 2,636 82 2,597 EXPENDITURESAdministration:Accounting- 10,000 10,000 10,000 - - - 25,000 Accounting, audit exemption, budget, cost cert reviewAudit- - - - No audit required until 2021 (audit of 2020 activity)Legal- 50,000 50,000 12,500 2,210 33,333 31,123 25,000 Legal & AdministrationElections- - - - - - - 2,500 Only in even yearsInsurance & SDA Dues- 3,000 3,000 401 401 3,000 2,599 1,000 D&O, liability & property Insurance. SDA dues.Office Supplies / Misc Other- 7,000 7,000 121 21 7,000 6,979 5,000 Checks, copies, bill.com fees, etcTreasurer's fees- 79 79 - (79) 75 3 % of property taxesEmergencies3,000 3,000 - - 2,000 2,000 - Emergency Reserve Held in Fund BalanceContingency- 20,000 20,000 - - 13,333 13,333 20,000 Potential unforeseen needsOperations:Sheriff's Subsidy60,000 Salary portion of Subsidy payment- vehicle in captialSnow Plowing- - - - - 5,000 Only second half of 2020Road Maintenance- - - - - - Only second half of 2020Electricity- Street Lights- - - - - 1,500 Only second half of 2020Landscape Maintenance- - - - - 15,000 Only second half of 2020Raw Water- Electric- - - - - 1,500 Only second half of 2020Raw Water- Repairs & Maintenance- - - - - 2,000 Only second half of 2020Contingency- - - - - - - 15,000 Potential unforeseen needsTOTAL EXPENDITURES- 93,000 93,000 23,101 2,712 58,667 55,955 178,575 REVENUE OVER / (UNDER) EXPENDITURES- (90,364) (90,364) (20,333) 7 (56,030) 56,037 (175,978) OTHER SOURCES / (USES)Transfers in/(out) - - - - - - - - Developer advances (repayments)- 100,000 100,000 27,500 4,450 65,666 (61,216) 180,000 Shortfall plus minor increase in reservesTOTAL OTHER SOURCES / (USES)- 100,000 100,000 27,500 4,450 65,666 (61,216) 180,000 CHANGE IN FUND BALANCE- 9,636 9,636 7,167 4,457 9,636 (5,179) 4,022 BEGINNING FUND BALANCE- 7,000 7,000 - - 7,000 (7,000) 7,167 ENDING FUND BALANCE- 16,636 16,636 7,167 4,457 16,636 (12,179) 11,189 ======No assurance is provided on these financial statements;substantially all disclosures required by GAAP omitted.Page 4
Tree Farm Metropolitan DistrictPrint Date: 12/28/2019Statement of Revenues, Expenditures, & Changes In Fund BalanceModified Accrual Basis For the Period Indicated2019 2019YTD Thru YTD Thru Variance 20202018 Adopted Amended 2019 08/31/1908/31/19 Positive AdoptedActualBudgetBudgetForecastActualBudget(Negative)BudgetBudget Notes/AssumptionsDEBT SERVICE FUNDREVENUEProperty Taxes - 9,227 9,227 9,227 9,227 9,227 (0) 8,697 AV * Mills / 1,000Specific Ownership Taxes- - 461 461 288 - 288 391 4.5% of Property TaxesPublic Improvement Fee- - - No sales in 2020Interest income- - 100 - - - - - TOTAL REVENUE- 9,227 9,788 9,688 9,515 9,227 288 9,089 EXPENDITURESTreasurer's fees- 277 277 277 - (277) 261 3 % of property taxesBond Principal- - - - Bond Interest- - - - - - 110,000 Assume August 1st Issuance DateDeveloper advance interest- - - - - Developer advance principal- - - - 4,285,723 Per 11-08-19 Prelim Bond ModelPaying agent / trustee fees- - - 2,500 Assume only 1 payment in 2020Debt issuance expense- - - - 240,000 Per 11-08-19 Prelim Bond ModelContingency100 TOTAL EXPENDITURES- - 377 277 277 - (277) 4,638,484 REVENUE OVER / (UNDER) EXPENDITURE- 9,227 9,411 9,411 9,238 9,227 11 (4,629,395) OTHER SOURCES / (USES)Transfer To Capital Fund- - (9,411) (9,411) (9,238) - (9,238) - Trfr to capital fund for org costs in 2019.Bond proceeds- - - - - - 6,000,000 Per 11-08-19 Prelim Bond ModelTOTAL OTHER SOURCES / (USES)- - (9,411) (9,411) (9,238) - (9,238) 6,000,000 CHANGE IN FUND BALANCE- 9,227 - - - 9,227 (9,227) 1,370,605 BEGINNING FUND BALANCE- - - - - - - - ENDING FUND BALANCE- 9,227 - - - 9,227 (9,227) 1,370,605 ======COMPONENTS OF FUND BALANCEReserve Fund- - - - - - - 484,277 Per 11-08-19 Prelim Bond ModelCapitalized Interest- - - - - - - 880,000 Per 11-08-19 Prelim Bond Model, less int expenseSurplus / Bond Fund- 9,227 - - - 9,227 (9,227) 6,328 Remaining funds availableTOTAL FUND BALANCE- 9,227 - - - 9,227 (9,227) 1,370,605 ========No assurance is provided on these financial statements;substantially all disclosures required by GAAP omitted.Page 5
Tree Farm Metropolitan DistrictPrint Date: 12/28/2019Statement of Revenues, Expenditures, & Changes In Fund BalanceModified Accrual Basis For the Period Indicated2019 2019YTD Thru YTD Thru Variance 20202018 Adopted Amended 2019 08/31/1908/31/19 Positive AdoptedActualBudgetBudgetForecastActualBudget(Negative)BudgetBudget Notes/AssumptionsCAPITAL FUNDREVENUEInterest Income - - - - - - - - TOTAL REVENUE- - - - - - - - EXPENDITURESGENERAL COSTSOrganizational Costs- - 16,953 10,953 10,953 - (10,953) 80,000 Costs to be submitted to DistrictEngineering - Phase I - - - - - - 94,782 District's allocated portionProject Mgmt/Land Planning - - - - - - 90,498 District's allocated portionDemolition - Gould - Phase I - - - - - - 261,361 District's allocated portionEarthwork - Gould - Phase I - - - - - - 680,797 District's allocated portionMaterials Testing - Phase I- - - - - - 27,000 District's allocated portionConst. Requirements - Gould - Phase I - - - - - - 203,350 District's allocated portionMisc. Site Improvements - Gould - Phase I - - - - - - 69,026 District's allocated portionMinor Contract Revisions - Gould - Phase I88,000 District's allocated portionLaw Enforcement Contribution6,000 Vehicle portion of Subsidy payment- Salary in OpsROADSTree Farm Dr./Willits Lane - - - - - - 1,293,403 Landscaping/Road- - - - - - 378,294 Roadside landscapingUnderpass - Engineering- - - - - - 52,500 Previously paid- goes towards bal owed to BasaltUnderpass - Basalt Reimb. - - - - - - 428,754 1/2 up front, 1/2 when get CO for 1st comm bldgSoil Nail Wall/Sculpting - Gould - Phase I - - - - - - 96,474 CIP Walls w/Board Form - Gould - Phase I - - - - - - 98,115 Pavements - Gould - Phase I- - - - - - 830,071 Street Lights - Phase I - - - - - - 47,935 PARKS & RECREATIONTree Installation - Lake Trail - - - - - - 78,889 Behind ski lake along trailRedi Block Gravity Wall - Gould - Phase I- - - - - - 160,320 Around trailLandscape Improvements - Phase I - - - - - - 446,149 SEWER & STORM SEWERStorm Drainage - Gould - Phase I - - - - - - 543,530 POTABLE & NON-POTABLE WATERIrrigation Water - Phase I - - - - - - 139,184 PROJECT CONTINGENCY- - 10,000 - - - 1,000,000 Additional contingency to avoid budget amendmentTOTAL EXPENDITURES- - 26,953 10,953 10,953 - (10,953) 7,194,432 REVENUE OVER / (UNDER) EXPENDITURE- - (26,953) (10,953) (10,953) - (10,953) (7,194,432) OTHER SOURCES / (USES)Transfers From Debt Service Fund- - 9,411 9,411 9,238 - 9,238 - Developer advances- - 17,542 1,542 1,550 - 1,550 7,194,432 TOTAL OTHER SOURCES / (USES)- - 26,953 10,953 10,788 - 10,788 7,194,432 CHANGE IN FUND BALANCE- - - - (165) - (165) - BEGINNING FUND BALANCE- - - - - - - - ENDING FUND BALANCE- - - - (165) - (165) - ======No assurance is provided on these financial statements;substantially all disclosures required by GAAP omitted.Page 6
146 County Tax entity code DOLA LGID/SID 66975
TO: County Commissioners1 of Eagle County , Colorado.
On behalf of the Tree Farm Metropolitan District
the Board of Directors
of the Tree Farm Metropolitan District
$
$
Submitted:12/9/2019 for budget/fiscal year 2020 .
(not later than Dec 15) (mm/dd/yyyy)(yyyy)
PURPOSE (see end notes for definitions and examples)LEVY2 REVENUE2
1.General Operating ExpensesH 10.000 mills 2,484.90$
2.
0.000 mills -$
SUBTOTAL FOR GENERAL OPERATING: 10.000 mills 2,484.90$
3.General Obligation Bonds and InterestJ 35.000 mills 8,697.15$
4.Contractual ObligationsK 0.000 mills -$
5.Capital ExpendituresL 0.000 mills -$
6.Refunds/AbatementsM 0.000 mills -$
7.OtherN (specify): 0.000 mills -$
0.000 mills -$
TOTAL:[]45.000 mills 11,182.05$
Daytime
phone:(970) 926-6060 x6
Signed: Title: District Accountant
(local government)C
Include one copy of this tax entity's completed form when filing the local government's budget by January 31st, per 29-1-113 C.R.S. with the Division of
Local Government (DLG), Room 521, 1313 Sherman Street, Denver, Colorado 80203. Questions? Call DLG (303) 864-7720.
1 If the taxing entity's boundaries include more than one county, you must certify the levies to each county. Use a separate form for each
county and certify the same levies uniformly to each county per Article X, Section 3 of the Colorado Constitution.
2 Levies must be rounded to three decimal places and revenue must be calculated from the total NET assessed valuation (Line 4 of Form
DLG57 on the County Assessor's FINAL certification of valuation).
USE VALUE FROM FINAL CERTIFICATION OF VALUATION PROVIDED BY
ASSESSOR NO LATER THAN DECEMBER 10
<Minus> Temporary General Property Tax Credit/
Temporary Mill Levy Rate ReductionI
248,490
248,490
(GrossD assessed valuation, Line 2 of the Certification of Valuation From DLG 57 E)
(NETG assessed valuation, Line 4 of the Certification of Valuation Form DLG 57)
Hereby officially certifies the following mills to
be levied against the taxing entity's GROSS
assessed valuation of:
Contact person:
(print) Eric Weaver
Sum of General Operating
Subtotal and Lines 3 to 7
Note: If the assessor certified a NET assessed valuation
(AV) different than the GROSS AV due to a Tax Increment
Financing (TIF) AreaF the tax levies must be calculated using
the NET AV. The taxing entity's total property tax revenue
will be derived from the mill levy multiplied against the NET
assessed valuation of:
CERTIFICATION OF TAX LEVIES for NON-SCHOOL Governments
(taxing entity)A
(governing body)B
Form DLG 70 (rev 6/16)Page 1 of 4
THIS SECTION APPLIES TO TITLE 32, ARTICLE 1 SPECIAL DISTRICTS THAT LEVY TAXES
FOR PAYMENT OF GENERAL OBLIGATION DEBT (32-1-603 C.R.S.). Taxing entities that are
Special Districts or Subdistricts of Special Districts must certify separate mill levies and revenue to the
Board of County Commissioners, one each for the funding requirements of each debt (32-1-603, C.R.S.)
Use additional pages as necessary. The Special District's or Subdistrict's total levies for general obligation
bonds and total levies for contractual obligations should be recorded on Page 1, Lines 3 and 4 respectively.
CERTIFY A SEPARATE MILL LEVY FOR EACH BOND OR CONTRACT:
BONDSJ:
1. Purpose of Issue:Financing of Public Improvements
Series:Anticipated Series 2020 Limited Tax General Obligation Bonds
Date of Issue: To Be Determined
Coupon rate: To Be Determined
Maturity Date: To Be Determined
Levy:35.000
Revenue: $8,697.15
2. Purpose of Issue:
Series:
Date of Issue:
Coupon rate:
Maturity Date:
Levy:
Revenue:
CONTRACTSK:
3. Purpose of Contract:
Title:
Date:
Principal Amount:
Maturity Date:
Levy:
Revenue:
4. Purpose of Contract:
Title:
Date:
Principal Amount:
Maturity Date:
Levy:
Revenue:
Use multiple copies of this page as necessary to separately report all bond and contractual obligations per 32-1-1603, C.R.S.
CERTIFICATION OF TAX LEVIES, continued
Form DLG 70 (rev 6/16)Page 2 of 4
