Mountain View Villages Water Distribution Loan

This question from the Mountain View Villages Water and Sanitation District in Lake County asks whether district debt shall be increased by $1,800,000 for "necessary and required capital improvements for the continued operation of the district's water distribution system." It names the form of that debt: a loan agreement and issuance of debt or other multiple-fiscal-year obligation, payable to a state authority. The question sets a maximum repayment cost of up to $4,140,000 and a maximum net effective interest rate not to exceed 6.5% a year. The question leaves the debt's manner and terms to the Board of Directors, consistent with those limits.

The question also asks whether district taxes shall be increased up to $200,000 annually, if necessary. For any year in which the district's other legally available revenue cannot repay the debt, it authorizes an ad valorem property tax increase "without limitation as to rate," in the amount needed for principal and interest as they fall due. Its final clause asks that any earnings from investing the revenue and taxes available for repayment constitute a voter-approved revenue change.

In the Colorado Division of Property Taxation's tax year 2025 figures, the district's total assessed value is $666,041. The district's 50-mill contractual obligation levy for 2025 carries $33,302.05 in revenue.

On August 11, 2026, the board adopted Resolution No. 2026-2, which sets both ballot titles in substantially the form printed in its appendix. The resolution reports a commitment for a Water Pollution Control Revolving Fund loan, which includes principal forgiveness, for the design and engineering of a project "generally consisting of" converting aeration tanks to aerobic digesters, adding a pump station and enhancing metals removal, "as well as related water and wastewater system improvements." The resolution does not say which system each of those items serves. The board adds that the district still has to secure funding "to acquire, construct, install and complete" the project, that its treasury holds insufficient funds, and that it does not anticipate enough money from existing revenue sources to complete the project pay-as-you-go. The board expects the total estimated cost to stay within the ballot measures' dollar amounts, and it currently expects no state or federal grant to defray any part.

The same resolution sets a companion question for the district's wastewater system with the same dollar, tax and interest figures and the same property tax backing. The resolution authorizes the board to proceed with issuing debt and levying taxes under any ballot measure a majority favors. Under the resolution, the Lake County clerk is to mail the TABOR election notice to the district's registered voters by October 2, 2026.