Colorado Plains Ranch draft plans model bonds above debt limits
The water and sanitation district’s hypothetical schedule lists $214.3 million in bonds against a stated $143.4 million limit; another draft attaches a much larger schedule with a different issuer label.
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Draft financing plans for two proposed Colorado Plains Ranch metropolitan districts include hypothetical bond schedules with amounts above the plans’ stated debt limits. The water and sanitation district’s schedule lists $214.302 million in proposed 2028 bonds, $70.902 million more than its stated $143.4 million limit.
A draft for Colorado Plains Ranch Metropolitan District No. 1 states an aggregate debt limit of $446.4 million. Its attached schedule lists two proposed 2028 bond issues totaling $1.56746 billion. But the schedule names “Colorado Plains Metropolitan District,” not District No. 1, so the comparison does not establish that District No. 1 itself would issue that amount. The plan describes the schedule as a hypothetical example and lists roads, highway access, bridges, rail, water and wastewater systems, stormwater work and other infrastructure among the improvements it could finance. The District No. 1 draft plan estimates improvements at about $500 million; its engineering table totals $491.5 million, including $367.5 million in direct costs, $50 million for planning and related services, and $74 million in contingency.
The water and sanitation draft estimates improvements at about $120 million. Its engineering table assigns $119.5 million to water supply and treatment, wastewater and reclaimed-water categories, while totaling $491.5 million across a broader set of infrastructure. Both drafts include the same table; neither allocates the broader costs among the districts, and the table does not establish that each would build or finance the full amount. The water and sanitation draft plan contains the bond schedule and improvement estimate.
The Elbert County Planning Commission agenda schedules a Nov. 4 public hearing on the service plan and a separate hearing on the proposed planned unit development. County staff say approval of a metropolitan-district service plan, or another water-and-wastewater service mechanism, is required before approval of a site development plan. A Board of County Commissioners hearing on the planned unit development is scheduled for Nov. 18.
The plans describe financing and improvements the districts could pursue if approved; they do not establish county approval, completed district formation or bond issuance.