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Palisade Metropolitan District No. 1 (“District No. 1”) and Palisade Metropolitan District No. 2 (“District No. 2”) (collectively, the “Districts”) are Title 32 Special Districts that have been established for the purpose of financing and installing street, park and recreation, water, sanitation, transportation, mosquito control, safety protection, and television relay and translation improvements of the Districts, and the provision of covenant enforcement and design review services; and all other improvements or services permitted by Article 1, Title 32, C.R.S. (collectively, the “Public Improvements and Services”), except as specifically limited by the First Amended and Restated Service Plan for each of the Districts approved by the City and County of Broomfield, Colorado, on December 2, 2014, as may be amended from time to time (the “Service Plan”).

The Public Improvements and Services are for the use and benefit of the residents and taxpayers of the Districts. The Districts are located in the City and County of Broomfield, Colorado. The Districts are quasi-municipal political subdivisions of the State of Colorado authorized to provide specialized services that the City and County of Broomfield does not provide.

District No. 1 may incur a maximum debt of $10,260,000. District No. 2 may incur a maximum debt of $82,000,000. Ad valorem property tax revenues, tax increment revenues, specific ownership tax revenues, payment in lieu of tax revenues, and any and all legally available moneys of the Districts may be used to repay such debt.

The Districts may each assess a maximum mill levy of fifty (50) mills to repay such debt. Such  maximum mill levy for District No. 1 is subject to adjustment for changes in the method of calculating assessed valuation or any constitutionally mandated tax credit, cut or abatement on or after January 1, 2002. The maximum mill levy for District No. 2 is subject to adjustment for changes in the method of calculating assessed valuation or any constitutionally mandated tax credit, cut or abatement on or after January 1, 2006.

The Districts must file an Annual Report with the City and County of Broomfield Clerk and Recorder.

Each of the Districts’ boundaries overlap with the boundaries of the City and County of Broomfield, Broomfield Urban Renewal Authority – North Park West, Northern Colorado Water Conservancy, Regional Transportation District, Boulder Valley Soil Conservation District, St. Vrain Valley School District RE-1J, Front Range Passenger Rail District, and North Metro Fire Protect District.

If interested in serving on the District Board of Directors, please contact info@specialdistrictlaw.com for more information.

For information regarding the system or process to contact someone associated with the Districts during regular business hours and outside of regular business hours, please contact info@specialdistrictlaw.com.