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Kelly PC <br />999 18th Street, Suite 1450, Denver, CO 80202 <br />Mayor Stolzmann and Councilmembers <br />City of Louisville <br />January 23, 2020 <br />Page 4 <br /> <br /> <br /> (a) There is sufficient existing and projected need for organized <br />service in the area to be serviced by the proposed special district; <br /> <br /> (b) The existing service in the area to be served by the proposed <br />special district is inadequate for present and projected needs; <br /> <br /> (c) The proposed special district is capable of providing <br />economical and sufficient service to the area within its proposed boundaries; <br />and <br /> <br />(d) The area to be included in the proposed special district has, or <br />will have, the financial ability to discharge the proposed indebtedness on a <br />reasonable basis. <br /> <br />This last finding is discussed further below in the section entitled “Financial Issues.” <br /> <br />• If the service plan is approved, the district proponents file a petition for organization with <br />the district court in the county in which the territory of the proposed district is situated. <br /> <br />• A court hearing is held on the proposed district, after compliance with certain notice <br />requirements. <br /> <br />• Approval by the court and the setting of an election on the proposed district (the <br />“organizational election”). <br /> <br />• An “organizational election” is held on the proposed formation of the district. Eligible <br />electors at district elections include persons registered to vote in Colorado who: are <br />residents of the district; or owns (or spouse or civil union partner owns) taxable real or <br />personal property in the district. A person obligated to pay taxes under a contract to <br />purchase taxable property is considered an owner. <br /> <br />In a “developer district,” the voters in this election are usually the developer and a small <br />number of affiliated landowners. At this election, the district also usually seeks and <br />obtains all voter approvals required by applicable law (including TABOR) for any district <br />taxes, debt, and other fiscal obligations. <br /> <br />Issues from City's Perspective. The City Council may already be aware of some of the issues <br />that can arise with special districts within a municipality, including: <br /> <br />7