Press release: Lake Dillon Fire retires Snake River bond issue from 1995


LDFR press release logo




12 March 2015


Contact: Steve Lipsher, Public Information Officer

Office: (970) 262-5209


Lake Dillon Fire retires Snake River bond issue from 1995


The Lake Dillon Fire Protection District is pleased to announce that the 1995 bond issue authorized under the former Snake River Fire Protection District has been retired with the final payment of $161,820.


Property-tax notices from the Summit County Treasurer’s Office released in January show a reduction of 0.34 mills for Snake River basin property owners in Keystone, Montezuma, Summit Cove and Summerwood, with the elimination of the Snake River Fire Protection District as a taxing entity at the end of 2014.


The original principal amount of the Snake River general-obligation bonds was $1.265 million when it was issued in 1995, and the resulting annual taxes were about $2.50 for every $100,000 of actual property value.


“Thanks to the support of our citizens in passing the bond measure and fulfilling the obligation through their property taxes, we have a fire station in Keystone today that continues to meet the emergency-services needs not only in the Snake River basin but throughout the Lake Dillon Fire Protection District,” said Lake Dillon Fire Chief Dave Parmley, who served as the fire chief for the Snake River Fire Protection District when the bond issue was approved in 1994.


“All of the great planning and work put forth by past board members and our volunteer firefighters during this time period has proven to be an unqualified success in building, equipping and staffing the fire station we have in Keystone,” Parmley said. “Even though the building soon will be 20 years old, it is in an excellent location to continue to be a key facility for us for another 20 years-plus.”


What is now known as LDFR Station 11 houses not only three critical pieces of fire apparatus along with crew quarters, but also is the home to Lake Dillon’s Support Services Division, a Summit County ambulance and Snake River Fleet Services, which repairs and maintains all fire apparatus and vehicles for all three of the fire districts in Summit County and for Leadville/Lake County.


In addition to the retirement of the Snake River bond issue, the Lake Dillon Fire Protection District will be completely debt free by mid-year, when the final payment of $54,522 is made on a lease-purchase agreement for the remodel and addition to the fire station in Dillon that was completed in 2002.


“The board of directors and management team all have worked closely together to stay focused on using our resources wisely, with firefighter and citizen safety foremost in mind, to meet the emergency services needs of the communities we serve,” said LDFPD Board President Jim Cox. “We have made every effort to do so without incurring additional debt to fund planned major capital expenditures.”


For the 2014 budget year, income generated from property taxes, fees and other revenues is projected to be 2 percent better than budget, and expenditures for both operating and capital are projected to be 4 percent under-budget.


“This further illustrates both the LDFPD Board’s fiduciary oversight and management’s dedication to being good stewards of the funding we receive for the benefit of our citizens and taxpayers we serve daily,” Parmley said.


From the current district-wide property-tax levy of 9 mills, the LDFPD budget for all funds in 2015 is about $8.6 million, which includes planned capital expenditures of $1 million from the capital-reserve fund.



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