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(a) The Town shall have the power to create local improvement districts, general improvement districts, special taxing districts, urban renewal authorities, housing authorities and other special districts and authorities as authorized by Colorado statutes for municipalities within or without or partly within or without the Town.

(b) The Town shall also have the power to create districts and authorities similar to those referred to in paragraph above pursuant to provisions prescribed by ordinance subject to the provisions of this Charter, and to adopt policies by resolution regarding the establishment of any district.

(c) The costs of constructing, installing or acquiring public, local or municipal improvements of every kind and character may be assessed in whole or in part upon the property benefitted by such improvements by the Town.

(d) Money may be borrowed to finance the construction, installation or acquisition of such improvements by borrowing money including securities secured by a pledge of assessments against the benefitted property in the District. Such obligations shall not require a vote of the electorate unless required by the Colorado Constitution.

(e) The Town may also pay for such improvements out of monies available therefor from any appropriate fund or source and provide for repayment to the appropriate fund from collection of the assessments.

(f) The Town may also redeem or prepay improvement district securities at any time funds are available to do so and assign the assessments as collected to an appropriate fund of the Town.