Valagua Metropolitan District
The District per State Statutes is required to provide an annual Transparency Notice to all property owners. 
2020 Transparency Notice

The Valagua Metropolitan District is a quasi-governmental entity formed in 2003 to provide essential public improvements and services for the Brightwater Club community, which is located roughly 5 miles south of the Town of Gypsum in Eagle County, Colorado. The gated community contains a total of 963 acres which are largely bordered by BLM land and will eventually contain a total of 535 residential lots as well as a private golf course and other Club amenities.


The District's primary function is the servicing of debt which was issued to finance the costs of constructing public improvements including water and sewer lines, enhancements to the road used to access the subdivision, and limited recreational amenities.  The majority of the infrastructure constructed has been conveyed to the Town of Gypsum for ongoing operation and maintenance.  The District did not finance nor is responsible for any of the roads inside of the gates nor any of the Club facilities as these are not public improvements. 

The District is funded through property taxes assessed upon property owners within the District.


Special Districts in Colorado

Special Districts are local governments (quasi-municipal corporations and political subdivisions of the State of Colorado) established to provide certain necessary public infrastructure, facilities and services to a community.  These improvements and services include water, sewer, streets, drainage systems, landscaping, traffic related safety enhancements, park and recreation facilities and services, fire protection, mosquito control, and transportation improvements.  There are currently over 1,800 Special Districts in Colorado providing these types of facilities and services to communities throughout the State.
The use of a Special District to provide these public improvements and facilities allows financing on a tax-exempt basis, at lower interest rates and on more favorable terms than would be otherwise available through private sector alternatives, resulting in a savings to property owners on the cost of infrastructure necessary for a community.  Special Districts as local governments are not only able to save money for their residents and property owners by selling tax-exempt bonds (to provide financing), they are also able to reduce costs by purchasing essential goods and services tax-free, and participating in intergovernmental agreements with other local governments.
Special Districts protect property values by assuring property owners that infrastructure is properly phased, and roads, water and sewer lines, and other essential facilities and services, to the extent owned and maintained by the Special District, will continue to be maintained.
As governmental entities providing essential, fundamental services, the Colorado Legislature has promoted the use of Special Districts through a governing set of statutes.  Special Districts are governed by a board of directors that must meet and act in public session with public notice, and Special Districts must comply with, among other requirements, the Colorado Open Records Act, the Local Government Budge Law, and the Local Government Audit Law.  Special Districts are also accountable to the approving jurisdiction through annual reporting requirement and service plan limitations.  For more information, please see the attached document provided by the Colorado Department of Local Government.