HomeMy WebLinkAbout 19-31 Cottonwood Hollow Comml Reinst plan Metro DistRESOLUTION 19-31
A RESOLUTION OF THE BOARD OF TRUSTEES OF THE TOWN OF
FIRESTONE, COLORADO, APPROVING THE AMENDED AND RESTATED
SERVICE PLAN FOR THE COTTONWOOD HOLLOW COMMERCIAL
METROPOLITAN DISTRICT
WHEREAS, in 2004, the Board of Trustees of the Town of Firestone received a request
to review a service plan for a proposed Metropolitan District entitled the Cottonwood Hollow
Commercial Metropolitan District (the "District") to include commercial property near I-25 and
Sable Avenue; and
WHEREAS, on October 14, 2004, pursuant to statute, the Board of Trustees conducted a
public hearing to review the service plan ("Original Service Plan") for the Cottonwood Hollow
Commercial Metropolitan District and approved said Original Service Plan; and
WHEREAS, after approval of the service plan, the District was organized pursuant to a
court order and decree on December 2, 2004; and
WHEREAS, by Resolution No. 12-27, adopted October 10, 2012, the Board of Trustees
approved the First Amendment to Service Plan for the Cottonwood Hollow Commercial
Metropolitan District (the "First Amendment"); and
WHEREAS, by Resolution No. 14-41, adopted June 25, 2014, the Board of Trustees
approved the Second Amendment to Service Plan for the Cottonwood Hollow Commercial
Metropolitan District (the "Second Amendment"); the original Service Plan, as amended by the
First Amendment and Second Amendment, is hereafter referred to as the "Service Plan"; and
WHEREAS, the Board of Trustees has now received a request to review and approve an
Amended and Restated Service Plan for the Cottonwood Hollow Commercial Metropolitan
District; and
WHEREAS, following notice as required by law, the Board of Trustees conducted a
public hearing on the request on April 11, 2019, and now wishes to approve the Amended and
Restated Service Plan.
THEREFORE BE IT RESOLVED BY THE BOARD OF TRUSTEES OF THE TOWN
OF FIRESTONE, COLORADO:
Section 1. The Board of Trustees of the Town of Firestone finds that:
(a) An Amended and Restated Service Plan for the Cottonwood Hollow Commercial
Metropolitan District was filed in the office of the Planning and Development
Department of the Town of Firestone; and
(b) Pursuant to statute, the Board of Trustees of the Town of Firestone has authority
to review the Amended and Restated Service Plan with reference to need, service
and economic feasibility; and
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(c) The Board of Trustees of the Town of Firestone has reviewed the Amended and
Restated Service Plan, the evidence and related exhibits, and has determined that
the same meets the municipal approval criteria under the Special District Act and,
therefore, has determined to adopt a resolution of approval of the Amended and
Restated Service Plan for the proposed Cottonwood Hollow Commercial
Metropolitan District,
Section 2.
Upon consideration of the Amended and Restated Service Plan for the District,
and evidence presented at the public hearing on the Amended and Restated Service Plan, the
Board of Trustees of the Town of Firestone does find, determine and declare, as required by
Section 324-203(2), C.R.S., as follows:
(a) That there is sufficient existing and projected need for organized service in the
area to be serviced by the District;
(b) That the existing service in the area to be served by the District is inadequate for
present and projected needs;
(c) That the District is capable of providing economical and sufficient service to the
area within its proposed boundaries; and
(d) That the area to be included in the District has, or will have, the financial ability
to discharge the proposed indebtedness on a reasonable basis.
Section 3. That pursuant to Section 32-1-204.5(1)(c), C.R.S., the Board of Trustees hereby
imposes the following conditions upon its approval of the Service Plan:
(a) The District shall not be authorized to issue Debt until the District has reimbursed
the Town for all the charges and fees it has incurred with its attorneys and consultant relating to
their review of this Service Plan and in connection with the modification of the Service plan
approved herein; and
(b)
(c)
If any of the above -stated conditions (a) through (c) are not met, the Town may revoke its
approval of the Amended and Restated Service Plan by subsequent resolution and pursue all
legal and equitable remedies available to it for failure of compliance with such conditions of
approval.
Section 4. Upon consideration of the Amended and Restated Service Plan, and all evidence
presented at the public hearing on the Amended and Restated Service Plan, the Amended and
Restated Service Plan for the Cottonwood Hollow Commercial Metropolitan District, as set forth
in Exhibit A to this Resolution, is hereby approved, subject to the conditions stated in Section 4
above, in accordance with Section 324-204.5(1)(c), C.R.S.
INTRODUCED, READ AND ADOPTED this 1 Oth day of April, 2019.
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OF FIRESTONE, COLORADO
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Mayor
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Leah Vanarsdall, Town Clerk t
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APPROVED AS TO FORM: v
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'Town Attorney
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