District Overview (per Sec. 32-1-104.5(3)(a)(X), C.R.S.)

Banning Lewis Ranch Metropolitan District No. 5 is a local government that provides certain public improvements and services for the Banning Lewis Ranch community.

Public Improvements and Services

The District is authorized by the Special District Act and its Consolidated Service Plan to provide various public improvements and services, including landscaping, storm drainage, streets, and parks and recreation.

Maximum Debt Authorization

The District is authorized by its Service Plan to issue a maximum of $100,000,000 in general obligation bonds and/or revenue bonds.  On December 11, 2018, the District issued its General Obligation Limited Tax Bonds, Series 2018A in the aggregate principal amount of $6,585,000, Subordinate General Obligation Limited Tax Bonds, Series 2018B in the aggregate principal amount of $1,011,000, and Junior Lien General Obligation Limited Tax Bonds, Series 2018C, in the aggregate principal amount of $1,942,000.

Authorized Sources for Debt Repayment

The District is authorized to repay its general obligation debt from any and all legally available revenues of the District, including general ad valorem taxes.

Maximum Mill Levy for Debt Repayment

The District’s Amended & Restated Service Plan imposes a Mill Levy Cap for the District of 20 mills for operations and 30 mills for debt service, subject to adjustment as described in the Amended & Restated Service Plan.

Board Member Qualifications

The District holds regular elections for board members on the first Tuesday after the first Monday in May of each odd-numbered year. A person is qualified to be a candidate if they are registered to vote under the Colorado Uniform Election Code of 1992 and are either (1) a resident of the District, or (2) the owner (or spouse or civil union partner of an owner) of taxable real or personal property within the District.  People interested in a position on the District’s Board of Directors may contact the District’s legal counsel for further information:

Seter, Vander Wall & Mielke, P.C.
7400 E. Orchard Road, Suite 3300
Greenwood Village, CO 80111
Phone: (303) 770-2700
Email: svw@svwpc.com

Overlapping Entities

• El Paso County
• EPC Road & Bridge Share
• City of Colorado Springs
• EPC-Colorado Springs Road & Bridge Share
• El Paso County School District #49
• Pikes Peak Library District
• Southeastern Colorado Water Conservancy District
• Central Colorado Conservation District
• Banning Lewis Ranch Metro District #1
• Banning Lewis Ranch Metro District #2
• Banning Lewis Ranch Metro District #3
• Banning Lewis Ranch Metro District #4
• Banning Lewis Ranch Regional Metro District #1
• Banning Lewis Ranch Regional Metro District #2
• Banning Lewis Ranch Metro District #8
• Banning Lewis Ranch Metro District #9
• Banning Lewis Ranch Metro District #10
• Banning Lewis Ranch Metro District #11