City of Colorado Springs Logo
File #: 18-0119    Version: 1 Name: Dublin North MD No. 2
Type: Resolution Status: Mayor's Office
File created: 2/21/2018 In control: City Council
On agenda: 4/10/2018 Final action: 4/10/2018
Title: A Resolution authorizing issuance of debt by the Dublin North Metropolitan District No. 2 in the form of limited tax general obligation refunding and improvement bonds, Series 2018A, 2018B, and 2018C Notes with a multiple fiscal year pledge of ad valorem tax from Dublin North Metropolitan District No. 3 the combination of which will use an amount not to exceed $4,000,000 in service plan authorization. (Legislative Item) Presenter: Conrad Olmedo, Comprehensive Planner II, Planning and Community Development Carl Schueler, Comprehensive Planning Manager, Planning and Community Development
Indexes: Issuance of Debt, Metropolitan District
Attachments: 1. RES_DublinNorthMetroDistNo.pdf, 2. Figure 1 - Dublin North MD - Transmittal Letter, 3. Figure 2 - Dublin North MD No. 2 - 2018 Senior Indenture of Trust, 4. Figure 3 - Dublin North MD No. 2 - 2018 Subordinate Pledge Agreement, 5. Figure 4 - Dublin North MD No. 2 - 2018 Senior Pledge Agreement, 6. Figure 5 - Dublin North MD No. 2 - 2018 Subordinate Indenture of Trust, 7. Figure 6 - Subordinate Note, 8. Figure 7 - Dublin North MD No. 2 - Development Projection, 9. Figure 8 - Dublin North MD No. 1 - 2017 Map, 10. Figure 9 - Dublin North MD No. 2 - 2017 Map, 11. Figure 10 - Dublin North MD No. 3 - 2017 Map, 12. Figure 11 - Dublin North MD - General Council Opinion, 13. Figure 12 - Dublin North MD No. 2 - External Financial Advisor Certificate - Series 2018C, 14. Figure 13 - Dublin North MD No. 1 Public Improvement Cost Summary, 15. CC-Presentation-Dublin North, 16. Signed Resolution 29-18

Title
A Resolution authorizing issuance of debt by the Dublin North Metropolitan District No. 2 in the form of limited tax general obligation refunding and improvement bonds, Series 2018A, 2018B, and 2018C Notes with a multiple fiscal year pledge of ad valorem tax from Dublin North Metropolitan District No. 3 the combination of which will use an amount not to exceed $4,000,000 in service plan authorization. (Legislative Item)

Presenter:
Conrad Olmedo, Comprehensive Planner II, Planning and Community Development
Carl Schueler, Comprehensive Planning Manager, Planning and Community Development

Body
Summary:
This is a request to authorize issuance of debt by the Dublin North Metropolitan District No. 2 ("District") in the form of limited tax general obligation refunding and improvement bonds, Series 2018A, 2018B, and 2018C Notes, but also supported by a Capital Pledge Agreement from District No. 3. The City's Special District Policy and the District's service plan require that City Council's approval be obtained prior to issuing any debt.

Approval of this debt issuance will require a 2/3rds majority of the entire City Council (at least six affirmative votes) pursuant to City Charter Article 7-100.

This item was introduced at the March 12, 2018 City Council Work Session and was discussed briefly at the March 13, 2018 City Council Budget Committee meeting.

Previous Council Action:
The District was established by election in May 2008, following approval by Council of a service plan earlier that year (Resolution No. 53-08). In 2012, Council made special appointments to the board of this District because it no longer had any eligible sitting board members. In 2014, Council approved an Inclusion of Property (Resolution 107-14) and an Issuance of Debt for $2,000,000 (Resolution 110-14,). Council has approved a variety of land use actions for this project area during the past few years.

Background:
Metropolitan districts are created under Color...

Click here for full text



The City of Colorado Springs is committed to making its websites accessible to the widest possible audience. We are constantly working to increase the accessibility and usability of our online technology. We strive to maintain conformance to Web Content Accessibility Guidelines (WCAG) 2.1 as well as U.S. Federal Government Section 508 Guidelines. The City of Colorado Springs will be evaluating this site on a regular basis, and it will continue to evolve and improve over time as new technologies emerge. Documents created by third parties may not meet all accessibility criteria. If you experience difficulty accessing the information contained within this webpage, please contact the Office of Accessibility at 719-385-5169.