RESOLUTION NO. 116-03

A RESOLUTION LEVYING TAXES FOR THE YEAR 2003 IN THE RIDGES METROPOLITAN DISTRICT A PART OF THE CITY OF GRAND JUNCTION, COLORADO

BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF GRAND JUNCTION, COLORADO:

That there shall be and hereby is levied upon all taxable property within the limits of the Ridges Metropolitan District Number 1, City of Grand Junction, Colorado, for the year 2003 according to the assessed valuation of said property, a tax of seven and one hundred twenty thousandths (7.120) mills on the dollar ($1.00) for District Number 1 upon the total assessment of taxable property within the Ridges Metropolitan District Number 1, City of Grand Junction, Colorado, for the purpose of paying certain indebtedness of the District, for the fiscal year ending December 31, 2004.

ADOPTED AND APPROVED THIS 3rd day of December, 2003.

             APPROVED:

             /s/ Jim Spehar      

             President of the Council

ATTEST:  

/s/ Stephanie Tuin      

City Clerk

CERTIFICATION OF TAX LEVIES

TO: County Commissioners of Mesa County, Colorado. For the year 2003, the Board of Directors of the Ridges Metropolitan District #1 hereby certifies the following mill levy to be extended upon the total assessed valuation:

   PURPOSE        LEVY      REVENUE

General Obligation Bonds and Interest - 1992 *   7.120 mills $ 126,429

Temporary Property tax Credit/

Temporary Mill Levy Rate Reduction   n/a mills $ 0.00

 CRS 39-5-121 (SB 93-255)

         TOTAL 7.120 MILLS $ 126,429

Contact person: Stephanie Tuin Daytime Phone: (970) 244-1511

Signed /s/ Stephanie Tuin      Title City Clerk    

* CRS 32-1-1603 (SB 92-143) requires Special Districts to “certify separate mill levies to the Board of County  Commissioners, one each for funding requirements of each debt.”

NOTE: Certification must be to three decimal places only. If your boundaries extend into more than one county, please list all counties here:

  Send a copy to Division of Local Government, Room 521, 1313 Sherman     Street, Denver, Colorado 80203.    

Original form (FORM DLG 70 (Rev. 6/92)

City of Grand Junction, Colorado

Memorandum

December 18, 2003

TO:    Mesa County Board of Commissioners

FROM:  Stephanie Tuin, City Clerk, City of Grand Junction

RE:  Property Tax Assessments for the Ridges Metropolitan District and the Grand Junction West Water and Sanitation District

The information regarding the outstanding debt for the two special taxing districts is as follows:

Ridges Metropolitan District

Date Issued: 07/15/1992

Original Issue Amount: $2,590,000

Maturity Date: 04/15/2013

Principal Amount Outstanding as of 12/31/2003: $1,635,000

Grand Junction West Water and Sanitation District

Date Issued: 09/01/1987

Original Issue Amount: $1,590,000

Maturity Date: 09/01/2007

Principal Amount Outstanding as of 12/31/2003: $536,383

If you need any additional information regarding these taxing districts please feel free to give me a call at 244-1511.

Thank You!

Sincerely

Stephanie Tuin, City Clerk

City of Grand Junction, Colorado