Granby Ranch Metropolitan District ballot question asks property owners about debt authority
This year, Granby Ranch Metropolitan District’s property owners are seeing a question about repealing unused debt authorization on their ballots. Granby Ranch Metropolitan District Manager Charles Wolfersberger is the designated election official for this ballot measure and explained what it would mean for homeowners in the district if it passed.
The ballot language reads, “Shall all previously authorized and unissued debt authorization granted by the voters in all prior elections to Granby Ranch Metropolitan District, with the exception of all authorization to refund existing debt, be forever repealed and rescinded effective immediately?”
Wolfersberger explained that he works with many homeowner-controlled metropolitan district boards and one recurring issue that these board members encounter is discovering they still have hundreds of millions of dollars of borrowing authority after being voted in. This borrowing authority usually comes from a prior election that gives developers the means to build out a development.
Wolfersberger explained that the current Granby Ranch Metropolitan District debt capacity of a little over $170 million was passed back in 2003 and 2004.
https://www.skyhinews.com/news/granby-ranch-metropolitan-district-ballot-question-asks-property-owners-about-debt-authority/