Mountain View Villages Wastewater System Loan

This Lake County question lets the Mountain View Villages Water and Sanitation District borrow $1,800,000 for improvements it calls necessary for the continued operation of the district's wastewater system. The question pairs a loan agreement with the issuance of debt or another multiple fiscal year obligation, payable to a state authority. Total repayment may cost up to $4,140,000, at a maximum net effective interest rate of 6.5% a year. Within those ceilings, the Board of Directors decides how to issue the debt and on what terms. The question sets no final payment year.

The question lets district taxes rise by up to $200,000 a year, if necessary. With a yes vote, in any year that other legally available district revenue is not sufficient for repayment, the district may increase property taxes without limitation as to rate, in the amount principal and interest require as they come due. Whatever the district earns by investing revenue and taxes available for repayment also counts, under a yes vote, as a voter-approved revenue change. The Colorado Division of Property Taxation lists the district's total assessed value for 2025 as $666,041, and its 2025 levy as 50 mills, raising $33,302.05.

Resolution No. 2026-2, which the board adopted on August 11, 2026, sets both this question and the water question. In it, the board records that the district has received a commitment for a Water Pollution Control Revolving Fund loan, which includes principal forgiveness, for design and engineering. It describes the project as generally consisting of converting aeration tanks to aerobic digesters for improved solids stabilization, adding a pump station and enhancing metals removal, along with related water and wastewater system improvements. The district still needs to secure funding to acquire, construct, install and complete the work. The board states that the district's treasury does not hold sufficient funds, and it does not expect to pay for the project on a pay-as-you-go basis from existing revenue. Its recitals add two expectations: that the total estimated cost stays within the ballot measures' dollar amounts, and that, for now, no state or federal grant will defray any part of it.

The water question carries the same borrowing, repayment, tax and interest limits for the district's water distribution system. Section 8 of the resolution lets the board issue debt and levy taxes under whichever measure a majority approves, so a majority for this question authorizes the wastewater loan and its taxes whatever the result on the water question.