SB 23-110 Summary

• Service plans submitted by metropolitan districts to county commissioners or municipalities on or after January 1, 2024 must include the maximum mill levy and maximum debt that may be issued, as determined by the approving governmental body.

• Metropolitan districts organized after January 1, 2000 with residential units must conduct annual meetings beginning in 2023, including presentations on infrastructure projects and bonds, unaudited financial statements, and public question periods.

• Boards must provide a public comment period during meetings where annual budgets are adopted.

• Debt issued by a metropolitan district to a director or related entity on or after January 1, 2024 requires certification from a registered municipal advisor that the interest rate does not exceed the lesser of a specified cap or current market rates, with maximum maturity of 40 years.

• Property sellers in metropolitan districts organized after January 1, 2000 must provide purchasers with the district's official website information on the Colorado Real Estate Commission approved seller's property disclosure.