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Debt and Mill Levy

District’s Financial Obligations

A. Maximum Debt Service Mill Levy: 50 mills, subject to adjustment as set forth in the Operating Plan.

B. Maximum Operations and Maintenance Mill Levy: 10 mills, subject to adjustment as set forth in the Operating Plan.

C. Current Debt Service Mill Levy: 0 mills

D. Current Operations and Maintenance Mill Levy: 10 mills

E. The District anticipates imposing the Operations and Maintenance Mill Levy indefinitely and the District may impose a Debt Service Mill Levy in the future.

F. The District does not have any outstanding debt and anticipates issuing debt in the future.

G. The District is party to the following developer reimbursement agreements:

  1. Reimbursement Agreement with AIPA Colorado Investments, LLC, dated December 16, 2021
    a.  Term: Automatic annual renewal unless one party provides notice of its intent not to renew
    b.  Interest rate: 8%
  2. Facilities Funding and Acquisition Agreement with AIPA Colorado Investments, LLC dated December 16, 2021
    a.  Term: December 31, 2051
    b.  Interest rate: 8%