Establish C-PACE Assessments and Assessment Units. (1) With respect to each C-PACE Assessment placed on a parcel of Participating Property, the District shall determine the amount of the C-PACE Assessment and establish the appropriate special assessment units and specify the method of calculating the C-PACE Assessment for each Participating Property. The District’s Board of Directors shall approve the specifics of the applicable C- PACE Assessment including, without limitation, the amount of the C-PACE Assessment, term, interest rate and repayment dates, which approval shall be set out in an assessing resolution (a “Resolution”). In no event shall the amount of any C-PACE Assessment exceed the value of (a) the special benefit provided to the Participating Property, or (b) the Participating Property, as provided in C.R.S. § 32- 20-106(1). Costs incurred for any property not approved to participate may not be included in a certified assessment roll.
