Metropolitan District. Purchaser may, at Purchaser’s sole discretion, form one or more metropolitan districts (collectively, the “District”) for the Property for the purposes of owning, maintaining and managing certain infrastructure improvements within the Property. Purchaser shall be entitled to all rights in and to the District, including control and all rights to reimbursement, from and after formation of the District and following Closing. Seller shall fully cooperate with Purchaser in the formation of the District.
Metropolitan District. Prior to issuance of the Notice of Final Acceptance, Developer shall delegate covenant enforcement to the District.
Metropolitan District. The Lot is contained within The Shores on Xxxx Xxxxx Xxxxxxxxxxxx Xxxxxxxx Xx. 00 a quasi-municipal corporation and political subdivision of the State of Colorado (the “District”). Buyer’s acquisition of the Lot shall be expressly subject to the District, including all funding and authority related to the District and provision of public improvements, facilities and services as outlined and authorized by Title 32, C.R.S. and the Service Plan approved by the Town of Xxxxxxxxx, Colorado. The District has been established for constructing or assisting with financing related to some or all of the onsite and offsite infrastructure for the Lot (including, without limitation, roads, drainage improvements, utility lines), and maintaining improvements (including landscaping, fencing, neighborhood signs, entry features, open space, fencing and irrigation water systems (if applicable) and provides for a mill levy and property tax assessment upon owners of property within the District to pay the cost of providing such services and operating and maintaining such improvements. District property owners shall be assessed certain ad valorem property taxes, fees, tolls and charges as set forth in an approved Service Plan for the Districts for the purpose of paying for the cost of a portion of the construction of public improvements and facilities necessary to serve The Shores on Xxxx Xxxxx Xxxxxxxxxxxx Xxxxxxxx Xx. 00. Xxxxxxxx Xx. 00 will assess a mill levy of twenty-five (25) xxxxx for purposes of paying for the public infrastructure improvements installed to make the Lot permit ready. The Seller and the Developer constructing or coordinating the construction of the public improvements and facilities needed for the Lot intend on the District assessing the 25 xxxxx against the property until One Hundred Thousand Dollars ($100,000) of the initial cost of building the public improvements needed for the subdivision (plus interest of 6.75% per annum) is repaid by the Lots within the Dreamers Ridge Phase 1 subdivision, including, but not limited to the capital costs related to the installation, ownership, operation, repair or maintenance of the Public Infrastructure required to provide facilities and services to the Lot, after which time District No. 10 will assess what is necessary to operate the Filing No. 1 subdivision in lieu of or in addition to a property owners and/or homeowner’s association at the direction of the property owners.
Metropolitan District. Until such time as the District may be dissolved as provided by law, the District shall operate as a metropolitan district as defined in Section 32-1- 103(10) and other relevant law, however its powers shall be limited to the following:
(a) The powers of a sanitation district as described in C.R.S. Section 32-1- 103(18) and other relevant law, but not including the provision of storm sewers, surface drainage, treatment and disposal works and facilities, or solid waste disposal facilities or waste services. In other words, the District may provide for sanitary sewers and contract for treatment services with the exceptions noted herein.
(b) Street improvement as provided in C.R.S. Section 32-1-103(10)(g) and safety protection as provided in C.R.S. Section 32-1-103(10)(d) and other relevant law; provided, however, that such service may be limited by the Board of Directors of the District to the ownership, operation, maintenance, repair and replacement of certain wayfinding and identification signs by acceptance of the assignment from the Cherry Hills North Homeowners Association, Inc. (the “HOA”) of “An agreement by and between the City of Cherry Hills Village, Colorado and Cherry Hills North Homeowners Association, Inc. for the grant of a revocable encroachment license to install, construct, and maintain neighborhood identification signs on City-owned right-of-way” (“Assignment”). The District may accept such Assignment from the HOA on terms acceptable to the District, and may accept transfer of the operation and maintenance of the signs and all other interests specifically described in the above referenced agreement, including but not limited to an ownership interest in the signs.
(c) All necessary or convenient administrative, financial, contractual and operational functions for the District as determined by the Board of Directors.
Metropolitan District. Subject to applicable law, Developer may form a metropolitan district (the "Metro District") to finance, acquire, design, construct, operate and maintain improvements required for the Development. The Metro District may exercise any and all powers and functions permitted by law in accordance with its service plan, including the provision of facilities and services to the Development, provided that the Metro District will be bound by the provisions of this Agreement. If the Metro District wishes to assume maintenance of any improvements otherwise being maintained by Developer, such assumption shall be by written agreement, subject to the Town's prior approval.
Metropolitan District. Melody acknowledges that a metropolitan district (the "District") has been formed to provide a financing mechanism for the acquisition and maintenance of a portion or all of infrastructure improvements for the Land. The service area for the District encompasses all of the Land and no portion of the Land will be excluded from the District without Melody's prior written consent. Buffalo Highlands shall not cause the inclusion of any additional property within the boundaries of the District without the prior written consent of Melody. Buffalo Highlands shall deliver to Melody for Melody's review a copy of the service plan for the District ("Service Plan") within five (5) days after the Effective Date. The Service Plan provides that the total debt mill levy, exclusive of the operations and maintenance mill levy, against the Lots shall not exceed 50 mills (subject to periodic xxxxease in accordance with Colorado law) based upon the real estate assessment laws, regulations and procedures and the mill levy structure currently applicable and utilized by the City, and anticipates that a mill levy of 42. will be sufficient to service the debt and operations and maintenance expenses of the District. Notwithstanding the foregoing, Buffalo Highlands agrees that for three (3) years from the date that the District delivers the District Note to Buffalo Highlands (the "Note Closing"), provided that Melody is not in default under any of the provisions of this Agreement, neither Buffalo Highlands nor any entity under common ownership, management or control of Buffalo Highlands shall request: (1) that the District impose or collect any fees, rates or charges for payment of such bonds issued by the District; or
Metropolitan District
