Attachment B - Resolution 2_Knollwood 2025 Mill Levy

Regular Meeting, November 6, 2025 · item 5A: Consideration of the following pertaining to the 2026 budget of the Knollwood Metropolitan District: Consideration of a motion to adjourn as… · 2 pages

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RESOLUTION 2

A RESOLUTION ESTABLISHING THE 2025 KNOLLWOOD METROPOLITAN DISTRICT PROPERTY TAX MILL LEVY FOR PAYMENT OF EXPENDITURES, IN PART, OF THE DISTRICT DURING THE FISCAL YEAR 2026, BEGINNING JANUARY 1, 2026; AND SETTING FORTH RELTATED DETAILS THE CITY COUNCIL OF THE CITY OF BOULDER, COLORADO, ACTING AS THE BOARD OF DIRECTORS OF KNOLLWOOD METRPOLITAN DISTRICT, HEREBY FINDS AND RECITES THAT: A.

WHEREAS, the Board of Directors (the “Board”) of the Knollwood Metropolitan

District (the “District”) has prepared and adopted a budget for the District for the 2026 fiscal year in accordance with the Local Government Budget Law; and B.

WHEREAS, the Board has reviewed the projected expenditures of the District for

2026; and C.

WHEREAS, the Board has considered all fund balances and sources of revenue of

the District; and D.

WHEREAS, the amount of money necessary to pay principal and interest coming

due on voter approved general obligation debt of the District is expected to be $46,680.00 for the General Obligation Loan, Series 2017 and $180,995.00 for the General Obligation Loan, Series 2020; and E.

WHEREAS, the Board has determined that there will not be sufficient existing

fund balances and revenues to cover repayment of debt service and that a tax levy of 19.570 mills should therefore be imposed;

WHEREAS, the amount of money necessary to balance the budget for general

operating purposes is $10,000; and G.

WHEREAS, the Board has determined the mill levy of 1.000 mills for general

operating expenses is necessary to continue operating the district while it repays the debt service. BASED ON THE FINDINGS MADE IN THIS RESOLUTION, ABOVE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF BOULDER, COLORADO, ACTING AS THE BOARD OF DIRECTORS OF THE KNOLLWOOD METROPOLITAN DISTRICT THAT: Section 1. Effective at 12:00 midnight at the end of December 31, 2025, there is hereby levied for the year 2025, to be collected in 2026, a tax of 20.570 mills upon each dollar of the total assessed valuation of all taxable property within the area of the District. The levy includes the following components: General Operating: Debt Service:

1.000 19.570

Section 2. The Secretary of the District is directed to certify the within levy to the County Assessor, Boulder County, Colorado. ADOPTED this 6th day of November 2025.

Attest: _________________________________ Secretary

_______________________________ Chair