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Council hears Dawson Trails financing plan, approves eligibility for annexation of Dawson Trails parcels
Summary
Town staff reviewed Dawson Trails Metropolitan District No. 1's proposed subordinate limited-tax GO bonds and the council approved a resolution finding multiple parcels eligible for annexation into Castle Rock. Town staff said the bond issuance would be for public improvements and is in compliance with the district service plan.
Town staff and the council discussed financing plans for the Dawson Trails development and unanimously approved a resolution finding several parcels eligible for annexation into Castle Rock.
At the meeting, staff described a proposed bond issuance by Dawson Trails Metropolitan District No. 1 consisting of subordinate, limited-tax general obligation bonds with an approximate principal of $66,000,000, an estimated interest rate near 9.25% and a 30-year term. Staff said the bonds would…
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