Central Marksheffel Metropolitan District

The District is a quasi-municipal corporation and political subdivision of the State organized in December 2002 pursuant to Article I, Title 32, Colorado Revised Statutes (the “Act”). The District is located in El Paso County, Colorado(“El Paso County” or the “County”), along the Marksheffel Road and the Sand Creek Channel on the west, Constitution Avenue on the North, and U.S. Highway 24 on the east and south, immediately east of the City of Colorado Springs, Colorado. The District currently contains approximately 423 acres.

The District is organized primarily to finance the design, acquisition, installation, and construction of street, landscaping, traffic and safety control, water, sanitary and storm sewer, and park and recreation improvements (“Facilities”) for the benefit of the District’s residents and taxpayers and other users of such regional improvements. The majority of the Series 2004 Bond proceeds will be used to finance and provide public improvements to Marksheffel Road, a north-south thoroughfare, which bisects the District, as well as improvements to the Sand Creek Channel and Bridge improvements along Marksheffel Road and Sand Creek Channel.

Once completed, the District will dedicate or cause to be conveyed the park and recreation, traffic safety, all public streets and streets dedicated by plat, all public drainage facilities, and public sidewalks, as well as rights-of-way and easements necessary for access to such facilities to El Paso County.

Improvements including all the tract-landscaping improvements, landscaping along major streets, entry features, and drainage tracts may be retained by the District for operations and maintenance if the same are not otherwise dedicated to and accepted by El Paso County. The water improvements and wastewater improvements constructed and financed by the District are to be conveyed to Cherokee Metropolitan District for ownership and continued operation and maintenance. Additionally, the District anticipates conveying open space landscaped improvements along certain sections of the Sand Creek Channel to the Cherokee Metropolitan District. 

Central Marksheffel Metropolitan District has an existing mill levy of 22.637 mills obligated to pay off Debt (see annual report) and 5.000 mills to fund operations and maintenance within the District at this time there is no discussion on issuing any future mill levies. The Debt mill levy is set to stay in place until the obligated debt is paid off, current maturity date is set for December 1, 2046, and there are currently no anticipated increases however the district is hoping to decrease the Operations and Maintenance mill levy in the next couple years.

At this time, there is no discussion on any additional Long Term Financial Obligations anticipated by the district. Here is a summary of the district’s current outstanding Long Term Financial Obligations:

The Central Marksheffel Metropolitan District main function is to collect tax revenue to pay off the current Long Term Debt and provide detention pond maintenance along with landscape maintenance throughout the District owned by the District. At this time, the district is not anticipating providing any other primary functions. The district currently owns the landscape tracts and is in process of taking ownership of the detention ponds. *See map for a visual of property owned by the District.