About
The Cotton Ranch Metropolitan District ("District") was formed in 1994 and continues as a governmental entity, is a political subdivision of the State of Colorado, and a quasi-municipal corporation. It has an elected Board of Directors consisting of five persons with staggered four year terms. Elections are in May of even-numbered years.
The primary purpose of the District was and is to finance infrastructure required by the Cotton Ranch Development, and to provide an ongoing institutional structure for the operation and maintenance of some of that infrastructure, primarily the Irrigation Water System.
The District is funded through a combination of property taxes levied on all properties within the community as well as water user fees.
Special Districts in Colorado
Special Districts are local governments (quasi-municipal corporations and political subdivisions of the State of Colorado) established to provide certain necessary public infrastructure, facilities and services to a community. These improvements and services include water, sewer, streets, drainage systems, landscaping, traffic related safety enhancements, park and recreation facilities and services, fire protection, mosquito control, and transportation improvements. There are currently over 1,800 Special Districts in Colorado providing these types of facilities and services to communities throughout the State.
The use of a Special District to provide these public improvements and facilities allows financing on a tax-exempt basis, at lower interest rates and on more favorable terms than would be otherwise available through private sector alternatives, resulting in a savings to property owners on the cost of infrastructure necessary for the community. Special Districts as local governments are not only able to save money for their residents and property owners by selling tax-exempt bonds (to provide financing), they are also able to reduce costs by purchasing essential goods and services tax-free, and participating in intergovernmental agreements with other local governments.
Special Districts protect property values by assuring property owners that infrastructure is properly phased, and roads, water and sewer lines, and other essential facilities and services, to the extent owned and maintained by the Special District, will continue to be maintained.
As governmental entities providing essential, fundamental services, the Colorado Legislature has promoted the use of Special Districts through a governing set of statutes. Special Districts are governed by a board of directors that must meet and act in public session with public notice, and Special Districts must comply with, among other requirements, the Colorado Open Records Act, the Local Government Budget Law, and the Local Government Audit Law. Special Districts are also accountable to the approving jurisdiction through annual reporting requirement and service plan limitations.