PROJ00061

• Contract/PO #: C153366
• Contractor Name: Ridges Metropolitan District
• Contract Type: Loan
• Water District: 72
• County: Mesa
• Bill Number: SB 81-439
• Loan Projects - Doc Type: Feasibility Study

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CHAPTER II - THE DISTRICT

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A.

History and Organization

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The District is a Metropolitan District created pursuant to Title 32, Arti-
cle 3, Colorado Revised Statutes 1973, as amended, for the purpose of pro-
viding water, sewer, and recreational facilities. The Order and Decree of
the District Court in and for the County of Mesa creating the District was
entered on April 28, 1977. The creation of the District was ordered after
the approval at an election held within the District for that purpose on
April 19, 1977. The District, as created consisted of 778.515 acres, sub-
sequently expanded to 816.755 acres, by annexation.

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B. Powers and Authorities

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The powers and authorities of the Ridges Metropolitan District are defined
by Title 32, Article 3, Colorado Revised Statutes 1973. These powers and
authorities are stated, in part, below as excerpted from the Statutes.

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32-3-114 General Powers

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(1) For and on behalf of the District, the Board has the following
powers:

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(a) To have perpetual existence;
(b) To have and use a corporate seal;
(c) To sue and be sued, and be a party to suits, actions, and pro-
ceed ings;
(d) Except as otherwise provided in this article, to enter into
contracts and agreements affecting the affairs of the district,
including contracts with the United States and any of its
agencies or instrumentalities, or any town, city, city and
county, or the State of Colorado. Except in cases in which
a district will receive aid from a governmental agency, a
notice shall be published for bids on all construction con-
tracts for work, or material, or both, and involving an ex-
pense of five thousand dollars or more. The district may re-
ject any and all bids, and if it appears that the district can
perform the work or secure material for less than the lowest
bid, it may proceed so to do;
(e) To borrow money and incur indebtedness and evidence the same
by certificates, notes, or debentures, and to issue bonds, as
provided in Sections 32-4-123 to 32-4-127, to carry out any of
the purposes and provisions of this article; ,
(f) To acquire, dispose of, and encumber real and personal property,
including, without limitation, rights and interests in property,
leases, and easements necessary to the functions or the opera-
tion of the district;
(g) To refund any bonded indebtedness of the district without an
election. Other than maturity and rate of interest, the terms

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