Regional Improvements Mill Levy Sample Clauses

Regional Improvements Mill Levy. The Sky Ranch Metropolitan Districts Nos. 3, 4 and 5 (the “Sky Ranch Districts”) petitioned the County and, on December 8, 2020, the County approved Amended and Restated Service Plans for the Sky Ranch Districts (“Amended Service Plans”). In connection with Seller’s delivery of the Seller Documents to Purchaser, Seller shall deliver to Purchaser a copy of the Amended Service Plans. Pursuant to the Amended Service Plans, each Sky Ranch District is authorized to provide for the planning, design, acquisition, construction, installation, relocation and/or redevelopment and to contribute to the funding of certain regional improvements serving the Development and other properties, and to fund the administration, overhead and operations and maintenance costs related to the provisions of such regional improvements. The regional improvements include, without limitation, the freeway interchange at Interstate I-70/Airpark Frontage Road adjacent to the Development, 6th Avenue, Monaghan St., Alameda Avenue, Hayesmount, and stormwater channel improvements along Monaghan and the First Avenue Tributaries to First Creek (collectively, the “Regional Improvements”). The Regional Improvements may be funded, in part, with revenue generated by the Sky Ranch Districts’ imposition of a mill levy that is a subset of the Sky Ranch Districts’ operations and maintenance mill levy to plan, design, acquire, construct, install, relocate and/or redevelop, and for the administration, overhead and operations and maintenance costs incurred with respect to the Regional Improvements (the “Regional Improvements Mill Levy”). The Regional Improvements Mill Levy shall be calculated, in any year, as the difference between the Aurora Public Schools mill levy (“APS Mill Levy”) and the Bennett School District 29J mill levy (“BSD Mill Levy”). The Debt Mill Levy Cap of 55.664 mills as set forth in the Amended Service Plans does not apply to each Sky Ranch District’s ability to increase its Regional Improvements Mill Levy as necessary for provision of the Regional Improvements. The Sky Ranch Districts are authorized to share the revenue generated by the imposition of the Regional Improvements Mill Levy in order to provide a source of funding for the construction and operation of the Regional Improvements and may pledge such revenue generated by the imposition of the Regional Improvements Mill Levy to the repayment of bonds issued by another governmental entity.