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a. Special districts ("Districts"). Special districts ("Districts") organized under Title 32, Article 1, C.R.S. (the "Special District Act"), under appropriate circumstances, provide an economic alternative to the development of municipal infrastructure at the expense and risk of the Town. The Town has previously authorized Districts within its corporate limits for the sole purpose of development of infrastructure to serve their respective service areas. In the past, the Town has restricted the authority and autonomy of the Districts through its approving resolutions and intergovernmental agreements.

b. Conditions, restrictions and requirements. The intent of this Article is to impose conditions, restrictions and requirements on the development by existing Districts of additional capital infrastructure and the issuance of indebtedness, in order to preserve the financial integrity of the Town and the health, safety, prosperity, security and general welfare of all of the residents and citizens of the Town. The Special District Act and the existing intergovernmental agreements between the Town and the Districts in certain respects do not adequately address the local concerns and interests of the Town in regulating the Districts’ development of capital facilities and incurrence of debt to finance such development, both of which ultimately have a direct financial consequence to the Town. It is necessary and advisable to specify the events and conditions which, under the Special District Act; likely constitute material modifications to an approved District service plan, in the context of the particular business and legal relationship between the Town and Districts. The provisions of this Article are also intended to provide procedures for the processing and review of proposals for formation of new Districts, and to define the restrictions and limitations which may be imposed by the Town as a condition to the approval of such Districts consistent with the policy and intent of this Article.

c. Adoption. The adoption of this Article is necessary, requisite and proper for the government and administration of local and municipal matters under the Town’s powers granted by Title 31 and Title 32, Article 1, C.R.S. The Town Board specifically finds that the determination of whether to use Districts to provide for the development of capital facilities and incurring of debt to finance such facilities is purely a matter of local concern for the Town to make. (Ord. 791, 2005; Ord. 846, 2006)