12. E. 1. Amendments. The District shall have the power to amend this Service Plan as needed, subject to appropriate statutory procedures as set forth in Section 32-1-207, C.R.S., as it may be amended from time to time, which, among other things, outlines what constitutes a material modification and the procedure for making a modification in a service plan. 2. Authority to Modify Implementation of Financing Plan and Public Infrastructure. Without amending this Service Plan, the District may defer, forego, reschedule or restructure the financing and construction of certain improvements and facilities, to better accommodate the pace of growth, resources availability, and potential inclusions of property within the District. F. Other Statutory Powers. The District may exercise such powers as are expressly or impliedly granted by Colorado law, if not otherwise limited by the Service Plan or its conditions of approval. G. Eminent Domain. The District may exercise the power of eminent domain or dominant eminent domain only as necessary to further the clear public purposes of the District. The power of eminent domain and/or dominant eminent domain shall be limited to the acquisition of property that the applicable District intends to own, control or maintain by the District or other governmental entity and is for the material use or benefit of the general public. The term “material use or benefit for the general public” shall not include the acquisition of property for the furtherance of an economic development plan, nor shall it include as a purpose an intent to convey such property or to make such property available to a private entity for economic development purposes. The phrase “furtherance of an economic development plan” does not include condemnation of property to facilitate public infrastructure that is necessary for the development of the Project. H. Sales Tax or Public Improvement Fees
7. Active Purposes of the District(s) Proposed design, construction and completion of on and off-site public improvements including, but not limited to, on and off-site streets, roadway and landscaping improvements 8. Current Certified Mill Levies a. Debt Service b. Operational c. Other d. Total a. N/A (no debt issuance currently anticipated) b. 10 Mills (as may be Gallagher adjusted) c. N/A d. 10 Mills (as may be Gallagher adjusted) 9. Sample Calculation of Current Mill Levy for a Residential and Commercial Property (as applicable). Assume a commercial property (no residential property is expected within the District) with a value of $500,000 x 29% = $145,000 (assessed value); $145,000 x .010 = $1,450 taxes per year due to the District 10. Maximum Authorized Mill Levy Caps (Note: these are maximum allowable mill levies which could be certified in the future unless there was a change in state statutes or Board of County Commissioners approvals) a. Debt Service b. Operational c. Other d. Total a. N/A (no debt issuance currently anticipated) b. 10 Mills (as may be Gallagher adjusted) c. N/A d. 10 Mills (as may be Gallagher adjusted) 11. Sample Calculation of Mill Levy Cap for a Residential and Commercial Property (as applicable). Assume a commercial property (no residential property is expected within the District) with a value of $500,000 x 29% = $145,000 (assessed value); $145,000 x .010 = $1,450 taxes per year due to the District 12. Current Outstanding Debt of the District (as of the end of year of this report) N/A 13. Total voter-authorized debt of the District (including current debt) N/A 14. Debt proposed to be issued, reissued or otherwise obligated in the coming year. N/A 15. Major facilities/ infrastructure improvements initiated or completed in the prior year N/A 16. Summary of major property exclusion or inclusion activities in the past year. N/A Reminder: