Special Districts
Special Districts are local governments (quasi-municipal corporations and political subdivisions of the State of Colorado) established to provide certain necessary public infrastructure, facilities, and services to a community. These improvements and services include water, sewer, streets, drainage systems, landscaping, traffic-related safety enhancements, park and recreation facilities and services, fire protection, mosquito control, and transportation improvements. There are currently over 1,800 Special Districts in Colorado providing these types of facilities and services to communities throughout the state.
The use of a Special District to provide these public improvements and facilities allow financing on a tax-exempt basis, at lower interest rates, and on more favorable terms than would be otherwise available through private sector alternatives, resulting in savings to property owners on the cost of infrastructure necessary for a community. Special Districts as local governments are not only able to save money for their residents and property owners by selling tax-exempt bonds (to provide financing) they are also able to reduce costs by purchasing essential.
As governmental entities providing essential, fundamental services, the Colorado Legislature has promoted the use of Special Districts through a governing set of statues. Special Districts are governed by a board of directors that must meet and act in public session with public notice, and Special Districts must comply with, among other requirements, the Colorado Open Records At, the Local Government Budget Law, and the Local Government Audit Law. Special Districts are also accountable to the approving jurisdiction through annual reporting requirements and service plan limitations.
Special Districts protect property values by assuring property owners that infrastructure is properly phased. It allows roads, water and sewer lines, and other essential facilities and services, to the extent owned and maintained by the Special District, will continue to be maintained.