Timberleaf Metropolitan District

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

Timberleaf Metropolitan District is a local government that provides certain public improvements and services for the Timberleaf community.

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 landscaping, storm drainage, streets, parks, and covenant enforcement and design review.

Maximum Debt Authorization

The District is authorized by its Service Plan to issue a maximum of $15,000,000 in general obligation bonds and/or revenue bonds. 

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.

Maximum Mill Levy for Debt Repayment

The "Maximum Debt Mill Levy" shall be the maximum mill levy the District is permitted to impose upon the taxable property within the District for payment of Debt, and shall be determined as follows:

1. If the total amount of aggregate District Debt exceeds fifty percent (50%) of the District's assessed valuation, the Maximum Debt Mill Levy shall be fifty (50) mills; provided that if the method of calculating assessed valuation or any constitutionally mandated tax credit, cut or abatement is changed by law; the mill levy limitation applicable to such Debt may be increased or decreased to reflect such changes, such increases or decreases to be determined by the Board in good faith (such determination to be binding and final) so that to the
extent possible, the actual tax revenues generated by the mill levy, as adjusted for changes occurring after January 1, 2004, are neither diminished nor enhanced as a result of such changes. For purposes of the foregoing, a change in the ratio of actual valuation shall be deemed to be a change in the method of calculating assessed valuation.

2. If the total amount of aggregate District Debt is equal to or less than fifty percent (50%) of the District's assessed valuation, either on the date of issuance or at any time thereafter, the mill levy to be imposed to repay such portion of Debt shall not be subject to the Maximum Debt Mill Levy and, as a result, the mill levy may be such amount as is necessary to pay the Debt service on such Debt, without limitation of rate.

3. For purposes of the foregoing, once Debt has been determined to be within Section VLC.2 above, so that the District is entitled to pledge to its payment an unlimited ad valorem mill levy, the District may provide that such Debt shall remain secured by such unlimited mill levy, notwithstanding any subsequent change in the District's Debt to assessed ratio. All Debt issued by the District must be issued in compliance with the requirements of
Section 32-1-1101, C.R.S. and all other requirements of State law.

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 Manager for further information:

Centennial Consulting Group

2619 Canton Court, STE A

Fort Collins, Co 80525

Phone: 970-484-0101

Email: info@ccgcolorado.com