To: Honorable Mayor and Members of Town Council
From: Robert J. Slentz, Town Attorney
Title
Town Attorney’s Report: Castle Oaks Metropolitan District
Body
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Castle Oaks Metropolitan District
The Castle Oaks Metropolitan District plans a $16 million principal value bond issue to refund an outstanding loan. They are requesting Council confirmation that the service plan limitation on total debt is not impacted by a refunding, which is consistent with our regulation of all metropolitan districts. Put simply, this is not an increase in outstanding debt but rather a restructuring of existing debt.
Proposed Motion:
“I move to authorize the Town Manager to execute the Acknowledgement and Certification of the Town of Castle Rock in Connection with $16,140,000 Castle Oaks Metropolitan District 2018 Refunding Bonds”
Attachments
Acknowledgement
Certification to the Town