Welcome to Remuda Ridge Metropolitan District
Remuda Ridge Metropolitan District has an existing mill levy of 47.522 mills obligated to pay off Debt and 11.881 mills budgeted to fund operations and maintenance within the District. At this time, there is no discussion on issuing additional mill levies. The Debt mill levy is set to stay in place until the obligated debt is paid off. The maturity date for the current debt is set for December 1st, 2051 and there are no discussions currently regarding additional Long Term Financial Obligations being anticipated.
Here is a summary of the District’s current outstanding Long Term Financial Obligations:
Name of Debt | Initial Debt Issuance Amount | Maturity Date | Interest Rate |
Series 2021A(3) | $5,520,000.00 | Dec. 1, 2051 | 5.625% |
The primary purpose of the Remuda Ridge Metropolitan District is to collect tax revenue for the repayment of the current Long-Term Debt; and to provide for the operations and maintenance of the public open space, roadway improvements, drainage improvements, detention pond maintenance following construction and conveyance of appropriate improvements to the City. At this time, the District does not anticipate providing any additional primary functions.