Welcome to Tuscan Foothills Village Metropolitan District
About Tuscan Foothills Village Metropolitan District
Tuscan Foothills Village Metropolitan District has an existing mill levy of 34.33 mills obligated to pay off Debt and 5.721 mills budgeted to fund operations and maintenance within the District. At this time, there is no discussion on issuing additional mill levies. The Debt mill levy is set to stay in place until the obligated debt is paid off. The maturity date for the current debt is set for December 1, 2049 and there are no discussions currently regarding additional Long Term Financial Obligations being anticipated.
Here is a summary of the District’s current outstanding Long Term Financial Obligations:
|
Name of Debt |
Initial Debt Issuance Amount |
Maturity Date |
Interest Rate |
|
Capital Appreciation Bonds |
$1,097,139.60 |
Dec. 1, 2049 |
6.250% |
The primary purpose of the Tuscan Foothills Village Metropolitan District is to collect tax revenue for the repayment of the current Long Term Debt; and to provide for the operations and maintenance of the public open space, drainage improvements, and detention pond maintenance following construction and conveyance of the improvements to the City. At this time, the District does not anticipate providing any additional primary functions.
The District currently owns multiple landscaped Tracts as well as Pond A and Pond B; and is in the process of conveying the entirety to the City.