HomeMy WebLinkAbout20132870.tiffSERVICE PLAN FOR
EATON AREA PARK & RECREATION DISTRICT,
WELD COUNTY, COLORADO
JULY 15, 2013
Prepared by:
EATON AREA PARK & RECREATION DISTRICT ORGANIZING COMMITTEE
200 PARK AVENUE
EATON, COLORADO 80615
Contact:
Dr. Randy Miller
(970) 454-3402
Distribution List:
Weld County Commissioners
Weld County Clerk
Office of the State Auditor
Division of Local Government
2013-2870
SDo(39
TABLE OF CONTENTS
1. INTRODUCTION I
A.Purpose and Intent
B.Need for the District
C.Ohjective of the County Regarding District's Service Plan 2
11. DEFINITIONS 3
III. BOUNDARIES 5
IV. PROPOSED LAND USE AND ASSESSED VALUATION 5
V. DESCRIPTION OF PROPOSED POWERS. IMPROVEMENTS AND SERVICES 7
A.Powers of the District and Service Plan Amendment 7
I. Operations and Maintenance Limitation 7
2. Construction Standards Limitation 7
3. Privately Placed Debt Limitation 7
4. Inclusion Limitation 7
5. Initial Debt Limitation S
6. Total Debt Issuance Limitation S
7. Monies from Other Governmental Sources S
S. Consolidation Limitation S
9. Eminent Domain Limitation S
10. Service Plan Amendment Requirement S
B. Primary Infrastructure Plan 9
VI. FINANCIAL PLAN I I
A.Gcnertl 11
B. Maximum Voted Interest Rate and Maximum Underwriting Discount 12
C.Maximum Debt Mill Levy 12
D.Maximum Debt Mill Levy Imposition Term 12
E. Debt Repayment Sources 12
F. Security for Debt 13
G.TABOR Compliance 13
H.District's Operating Costs 13
I. Elections 14
VII. ANNUAL REPORT 14
A.Gcneral 14
B. Reporting of Significant Events 14
VIII. DISSOLUTION 15
IX. PROPOSED AND EXISTING INTERGOVERNMENTAL AGREEMENTS AND
EXTRATERRITORIAL SERVICE AGREEMENTS 15
X. MATERIAL MODIFICATIONS 16
XI. CONCLUSION 16
XI1. RESOLUTION OF APPROVAL 17
LIST OF EXHIBITS
EXHIBIT A
EXHIBIT B
EXHIBIT C
EXHIBIT D
EXHIBIT E
EXHIBIT F
EXHIBIT G
EXHIBIT H
Legal Descriptions
Vicinity Map
Initial District Boundary Map
Primary Infrastructure Plan
Map Depicting Public Improvements
Financial Plan
Resolutions of Support
Assessed Valuation
I. INTRODUCTION
A.Purpose and Intent.
The District is an independent unit of local government, separate and distinct from the County and,
except as may otherwise be provided for by state or local law or this Service Plan, its activities arc subject
to review by the County only insofar as they may deviate in a material matter from the requirements of
this Service Plan. It is intended that the District will provide a part or all of the Public Improvements for
the use and benefit of all anticipated inhabitants and taxpayers of the District. The primary purpose of the
District will be to finance the construction of these Public Improvements, as well as to subsequently
operate them.
The District is being created to provide ongoing operations and maintenance services as
specifically set forth in this Service Plan. This Service Plan has been prepared in accordance with Article
XIV of Chapter 2 of the County Code.
The Town of Eaton (Town) is a Colorado municipality serving a population of approximately
4,500 residents, located on U.S. Highway 85 approximately 7 miles north of Greeley. The Town is a
rural, agricultural community in Weld County.
The Town government has provided the community with a limited recreation facility, equipment,
and programming (collectively Recreation Department) to benefit the health and welfare of its citizens.
These facilities have been coordinated with those of the Weld County School District RE-2(Eaton).
Today, the Recreation Department provides programming to residents with a workforce of highly
motivated employees and countless volunteers that provide coaching and lessons.
The Service Plan has been developed in accordance with the requirements of the Special District
Act and is intended to provide for the smooth transfer of the Towns' Recreation Department to the Park
and Recreation District upon its organization and the organizing committee will cease. This service plan
and the attached documents from the Town of Eaton and the Weld County RE -2 School District also arc
intended to provide a foundation and framework upon which a close working relationship between the
Town and School District will continue and be sustained for the benefit of future generations.
B.Need for the District.
There arc currently no other governmental entities, including the County, located in the immediate
vicinity of the District that consider it desirable, feasible or practical to undertake the planning, design,
acquisition, construction, installation, relocation, redevelopment and financing of the Public
Improvements needed for the Project. Formation of the District is therefore necessary in order for the
Public Improvements required for the Project to be provided in the most economic manner possible.
In recent years, the community has heavily expressed their concern for the area's need of a
recreation center to expand options for recreation availability, complementing the current school facilities,
and aiding in the expansion of recreation opportunities. Currently, recreation programming is very limited
for non -school related activities. The Town of Eaton's limited recreation department facilities and
services will not be able to meet the current and foreseeable demands of the area.
In December of 2012, a survey was conducted by the organizing committee of the District that
encompasses the Eaton RE -2 School District. 249 surveys were completed by residents of the Town and
surrounding area. Results were overwhelmingly in favor of a multi -faceted community/recreation center.
Residents ranked an indoor swimming pool, fill size gymnasiums, multi -purpose meeting/class rooms,
and weight'cardio rooms as necessities.
The only swimming pools in the community arc an aging facility inside Eaton High School used
mostly by the school swim team and club and a small pool owned by the Hawkstonc subdivision
homeowners. The high school pool is maintained for competition; therefore it is kept at a cool
temperature and is not pleasurable for younger children taking swim lessons or seniors in water aerobics.
By nature, these pools have limited community access. Most residents have to travel 20 minutes to
Greeley or 25 minutes to Windsor for recreational swimming. The Eaton Schools gymnasiums arc
extensively scheduled with school athletics, fundraisers, and activities, including evenings and weekends.
This does not meet the needs of those wanting to participate in indoor adult sports leagues or clubs.
The current Recreation Department directed by the Town of Eaton shares a building with the
Eaton Police Department. The recreation portion itself is a multi -purpose room but it cannot
accommodate more than one indoor program at a time. The day to day programming and hours of
operation within the dedicated facility cannot reasonably or efficiently accommodate the needs of the
community. Space availability for other indoor activities arc strategically scheduled between the Town's
churches, public buildings, and schools, if available.
The residents of the Eaton area are also requesting a location where larger groups of people may
gather in a safe and comfortable environment for events such as receptions, weddings, and programs.
Within the Eaton community, there is not an indoor facility that is easily accommodating for larger
private or community events.
During the Recreation Committee's survey process, the residents also prioritized the need for
outdoor community facilities. It is apparent that competition for outdoor playing fields compromises the
youth, adult, and senior programs. Summer activities, when school programs arc not as active, are limited
in Eaton and many activities and off-season sport programs must be held in surrounding cities.
Beyond the varsity fields of Eaton High School, there is very little area for kids and youth
soccer, softball and baseball programs. Currently various parks and playgrounds arc used for makeshift
fields.
C.Objective of the County Regarding District's Service Plan
The County's objective in approving the Service Plan for the District is to authorize the District to
provide for the planning, design, acquisition, construction, installation, relocation and redevelopment of
the Public Improvements from the proceeds of Debt to be issued by the District. All Debt is expected to
be repaid by taxes imposed and collected for no longer than the Maximum Debt Mill Levy Imposition
Term and at a tax mill levy no higher than the Maximum Debt Mill Levy. Debt which is issued within
these parameters (as further described in the Financial Plan) will insulate property owners from excessive
tax burdens to support the servicing of the Debt and will result in a timely and reasonable discharge of the
Debt.
This Service Plan is intended to establish a limited purpose for the District and explicit financial
constraints that arc not to be violated under any circumstances. The primary purpose is to provide for the
Public Improvements associated with the Project and those regional improvements necessitated by the
Project. Ongoing operational and maintenance activities arc allowed, but only as specifically addressed in
this Service Plan, and only to the extent that the District has sufficiently demonstrated that such
operations and maintenance functions arc in the best interest of the County and the existing and future
residents and taxpayers of the District. In no case shall the mill levies imposed by the District for debt
service and operations and maintenance functions exceed the Aggregate Mill Levy Cap.
It is not the intent of the District to dissolve upon payment or defeasancc of all Debt incurred or
upon a court determination that adequate provision has been made for the payment of all Debt as the
District anticipates operating functions under this Service Plan, retaining the power necessary to impose
and collect taxes or fees to pay for costs associated with said operations and maintenance functions.
The District shall be authorized to finance the Public Improvements that can be funded from Debt
to be repaid from tax revenues collected from a mill levy which shall not exceed the Maximum Debt Mill
Levy and which shall not exceed the Maximum Debt Mill Levy Imposition Term. It is the intent of this
Service Plan to assure to the extent possible that no taxable property bear an economic burden that is
greater than that associated with the Maximum Debt Mill Levy in amount and that no property bear an
economic burden that is greater than that associated with the Maximum Debt Mill Levy Imposition Term
in duration, even under bankruptcy or other unusual situations. Generally, the costs of Public
Improvements that cannot be funded within these parameters are not costs to be paid by the District.
II. DEFINITIONS
In this Service Plan, the following terms shall have the meanings indicated below, unless the
context hereof clearly requires otherwise:
Aggregate Mill Levy Cap means the maximum aggregate mill levy the District is permitted to
impose for debt service and operations and maintenance, as set forth in Subsection VI.H below.
Approved Development Plan means a development plan or other process established by the County
(including but not limited to approval of a Planned Unit Development final plan or Subdivision final plat
by the BOCC) for identifying, among other things, Public Improvements necessary for facilitating
development for property within the Service Area as approved by the County pursuant to the County
Code and as amended pursuant to the County Code from time to time.
Board means the Board of Directors of the District.
BOCC means the Board of County Commissioners of the County of Weld, Colorado.
Bond, Bonds or Debt means bonds or other obligations for the payment of which the District has
promised to impose an ad valorem property tax mill levy.
County means the County of Weld, Colorado.
County Code means the Weld County Code, as the same may be amended from time to time.
District means the Eaton Area Park and Recreation District.
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External Financial Advisor means a consultant that: ( I ) advises Colorado governmental entities on
matters relating to the issuance of securities by Colorado governmental entities, including matters such as
the pricing, sales and marketing of such securities and the procuring of bond ratings, credit enhancement
and insurance in respect of such securities; (2) shall be an underwriter, investment banker or individual
listed as a public finance advisor in the Bond Buyer's Municipal Market Place; and (3) is not an officer or
employee of the District.
Financial Plan means the Financial Plan described in Section VI below which is prepared by an
External Financial Advisor in accordance with the requirements of the County Code and describes: (a)
how the Public Improvements arc to be financed; (b) how the Debt is expected to be incurred; and (c) the
estimated operating revenue derived from property taxes for the first budget year.
Inclusion Area Boundaries means the boundaries of the area described in the Inclusion Arca
Boundary Map, if any.
Inclusion Arca Boundary Map means the map attached hereto if any, describing the property
proposed for inclusion within the District (if any) in the future.
Initial District Boundaries means the boundaries of the area described in the Initial District
Boundary Map.
Initial District Boundary Map means the map attached hereto as Exhibit C, describing the District's
initial boundaries.
Map Depicting Public Improvements means the map or maps attached hereto as Exhibit E, showing
the locations of the Public Improvements listed in the Primary Infrastructure Plan.
Maximum Debt Mill Levy means the maximum mill levy the District is permitted to impose for
payment of Debt as set forth in Subsection VI.C below.
Maximum Debt Mill Levy Imposition Term means the maximum term for imposition of a mill levy
as set forth in Subsection VI.D below.
Primary Infrastructure Plan means the Primary Infrastructure Plan described in Subsection V.B
below, which includes: (a) a list of the Public Improvements to be developed by the District; and (b) an
estimate of the cost of the Public Improvements.
Project means the development or property commonly referred to as the Eaton Area Recreation
Center.
Public Improvements means a part or all of the improvements authorized to be planned, designed,
acquired, constmcted, installed, relocated, redeveloped and financed as generally described in the Special
District Act, except as specifically limited in Section V below to serve the future taxpayers and
inhabitants of the Service Area as determined by the Board of the District.
Service Arca means the property within the Initial District Boundary Map and the Inclusion Arca
Boundary Map.
Service Plan means this service plan for the District approved by the BOCC.
Service Plan Amendment means an amendment to the Service Plan approved by the BOCC in
accordance with applicable state law.
Special District Act means Section 32-1-101 et seq., C.R.S., as amended from time to time.
State means the State of Colorado.
Total Debt Issuance Limitation means the total Debt the District is authorized to issue, as set forth
in Paragraph V.A.6 below and supported by the Financial Plan.
III. BOUNDARIES
The area of the Initial District Boundaries includes approximately 230 square miles, and no
additional area is proposed to be included in the Inclusion Arca Boundaries. A legal description of the
specific property is attached hereto as Exhibit A. A map of the Initial District Boundaries is attached
hereto as Exhibit C. A vicinity map is attached hereto as Exhibit B. It is anticipated that the District's
Boundaries may change from time to time as it undergoes inclusions and exclusions pursuant to Section
32-1-401 et seq., C.R.S., and Section 32-1-501 et seq., C.R.S., subject to the limitations set forth in
Article V below.
The proposed Park and Recreation District boundaries will be the Weld County RE -2 School
District boundaries with the exception of parcels of agricultural land that contain 40 or more acres and the
owners have not voluntarily included such land in writing to the District. Exhibit A shows a map of the
proposed Park and Recreation District boundaries. There are approximately 230 square miles in the
District.
Upon voter approval of a Park and Recreation District (Recreation District), through an
intergovernmental agreement, the Weld County RE -2 School District will convey, by long term lease or
sale, approximately 35 acres of vacant land to the Recreation District where the facilities will be built.
This land is the north part of parcel number 070736300005 of approximately 100 acres which is owned
by the Weld RE -2 School District. The property is near the northeast corner of the intersection of Weld
County Roads 35 and 74, on the west edge of Eaton. Exhibit B shows a map with highlighted property
borders. The remainder of the parcel is anticipated to be used by the School District for a new high school
in the future.
IV. PROPOSED LAND USE AND ASSESSED VALUATION
The Service Arca consists of approximately 230 square miles of land. The current assessed
valuation of the Service Arca is assumed to be 5350,000 O00 (Exhibit H) for purposes of this Service Plan
and, is expected to be sufficient to reasonably discharge the Debt as demonstrated in the Financial Plan.
(Exhibit F)
Approval of this Service Plan by the County does not imply approval of the development of a
specific area within the District, nor does it imply approval of the number of residential units or the total
site/floor area of commercial or industrial buildings which may be identified in this Service Plan or any of
the exhibits attached thereto, unless the same is contained within an Approved Development Plan.
The table below shows the estimated assessed valuation and population for the next 10 years for
the proposed Recreation District. An estimated annual growth factor of 1.5% is anticipated:
Assessed Valuation
Population
2013
S350,000,000
8,000
2014
355,000,000
8,120
2015
360,000,000
8,241
2016
366,000,000
8,365
2017
371,000,000
8,490
2018
376,000,000
8,618
2019
382,000,000
8,747
2020
388,000,000
8,878
2021
394,000,000
9,011
2022
400,000,000
9,146
The 2010 Colorado Census recorded a number of 4,365 Eaton residents in 2010. This number
was a 62% increase from the prior census recording from the year 2000 of 2,690 residents and 37%
population increase from the census of 1990. Current estimated population is 4,500 for the Town and
9,000 for the entire school district area.
Eaton's population is fairly equal when divided into three age groups. Residents over 50 years
old make up 31.6% of the population. Residents between the ages of 20 and 49 arc 36% of the population
and children through age 19 arc the remaining 32.3%.
The Town of Eaton and surrounding area is expected to show continued growth. Within the last
ten years, Eaton has demonstrated sustainable growth with franchises like McDonald's, Subway, Dollar
Store, KFC/Taco Bell, and two banking institutions establishing and expanding successful businesses.
The community regularly patronizes Heritage Market, a full market grocery store and Eaton has a
beautiful recent fire station.
The Weld County RE -2 School District has had a steady 3% annual incrcasc in student
population for the past 5 years. This puts the district at just over 1,800 students for the 2012-2013 school
year.
Within the last two years, there has been a substantial increase in residential building permits and
phases in new construction neighborhoods arc filling with new, single family detached structures.
The community holds the needs of school children as a top priority. In 2003, the RE -2 School
District built an additional elementary school and added a new wing to the middle school to accommodate
a growing population of school age children. The students have five schools within the District that
participate in educational programs and activities. Use of school gyms and playing fields arc heavily
scheduled and prioritized by the demand of school programs.
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V. DESCRIPTION OF PROPOSED POWERS, IMPROVEMENTS AND SERVICES
A.Powers of the District and Service Plan Amendment.
The District shall have the power and authority to provide the Public Improvements within and
without the boundaries of the District as such power and authority arc described in the Special District
Act, and other applicable statutes, common law and the State Constitution, subject to the limitations set
forth herein.
If, after the Service Plan is approved, the State Legislature includes additional powers or grants
new or broader powers for Title 32 districts by amendment of the Special District Act, no such powers
shall be available to or exercised by the District unless the District publishes forty -five-day notice and
provides written notice to the BOCC pursuant to Section 32-1-207(3)(b), C.R.S. If, within forty-five (45)
days of the publication of such notice, the BOCC expresses to the District a written objection to the
proposed exercise of such new or broader powers, then the exercise of the same by the District without
the prior written consent of the BOCC shall be considered a material modification of the Service Plan and
shall be resolved in accordance with Section 32-1-207(2), C.R.S.
I. Operations and maintenance limitation. The purpose of the District is to plan for, design,
acquire, construct, install, relocate, redevelop and finance the Public Improvements. The District shall
not dedicate the Public Improvements to the County or other appropriate jurisdiction or owners'
association in a manner consistent with the Approved Development Plan, other rules and regulations of
the County and applicable provisions of the County Code. The District shall not be authorized to operate
and maintain any part or all of the Public Improvements, unless specifically provided for and identified
with particularity in this Service Plan.
2. Construction standards limitation. The District will ensure that the Public Improvements are
designed and constructed in accordance with the standards and specifications of the County and of other
governmental entities having proper jurisdiction, as applicable. The District will obtain all applicable
permits for construction and installation of Public Improvements prior to performing such work.
3. Privately placed debt limitation. Prior to the issuance of any privately placed Debt, the District
shall obtain the certification of an External Financial Advisor substantially as follows:
We arc I 1 am] an External Financial Advisor within the meaning of the District's Service Plan.
We [I] certify that (I) the net effective interest rate (calculated as defined in Section 32-1-103(12),
C.R.S.) to be borne by the District for the 'insert the designation of the Debt' does not exceed a
reasonable current tax-exempt] (taxable' interest rate, using criteria deemed appropriate by us line' and
based upon our 'my' analysis of comparable high yield securities; and (2) the structure of 'insert the
designation of the Debt i, including maturities and early redemption provisions, is reasonable considering
the financial circumstances of the District.
4. Inclusion limitation. The District shall not include within its boundaries any property outside the
Service Arca without the prior written consent of the BOCC. Inclusions or exclusions not described in
this Service Plan shall require a forty -five-day notice publication and written notice to the BOCC
pursuant to Section 32-1-207(3)(b), C.R.S. If, within forty-five (45) days of the publication of such
notice, the BOCC expresses to the District a written objection to the proposed inclusion or exclusion, then
the proposed inclusion or exclusion shall be considered a material modification of the Service Plan and
shall be resolved in accordance with Section 32-1-207(2), C.R.S.
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5. Initial debt limitation. Prior to the effective date of approval of an Approved Development Plan
relating to development within the Service Area, the District shall not: (a) issue any Debt: (b) impose a
mill levy for the payment of Debt by direct imposition or by transfer of funds from the operating fund to
the Debt service funds; or (c) impose and collect any fees used for the purpose of repayment of Debt, as
applicable.
6. Total debt issuance limitation. The District shall not issue Debt in excess of $25,000,000. To
the extent the District seeks to modify the Total Debt Issuance Limitation, it shall proceed in accordance
with Subsection 2-14-20.1 of the County Code.
7. Monies from other governmental sources. The District shall not apply for or accept
Conservation Trust Funds, Great Outdoors Colorado Funds or other funds available from or through
governmental or nonprofit entities for which the County is eligible to apply, except pursuant to an
intergovernmental agreement with the County, or as otherwise allowable. This Section shall not apply to
specific ownership taxes which shall be distributed to and a revenue source for the District without any
limitation.
S. Consolidation limitation. The District shall not file a request with any court to consolidate with
another Title 32 district without the prior written consent of the County.
9. Eminent domain limitation. The District shall not exercise its statutory power of eminent
domain, except as may be necessary to construct, install, access, relocate or redevelop the Public
Improvements identified in the Primary Infrastructure Plan. Any use of eminent domain shall be
undertaken strictly in compliance with state law. Any proposed use of eminent domain for a purpose
other than as may be necessary to complete the Public Improvements identified in the Primary
Infrastructure Plan shall require a forty -five-day notice publication and written notice to the BOCC
pursuant to Section 32-1-207(3)(b), C.R.S. If, within forty-five (45) days of the publication of such
notice, the BOCC expresses to the District a written objection to the proposed use of eminent domain by
the District, then the proposed use of eminent domain shall be considered a material modification of the
Service Plan and shall be resolved in accordance with Section 32-1-207(2), C.R.S.
10. Service Plan amendment requirement. This Service Plan is general in nature and does not
include specific detail in some instances because development plans have not been finalized. The Service
Plan has been designed with sufficient flexibility to enable the District to provide required services and
facilities under evolving circumstances without the need for numerous amendments. Modification of the
general types of services and facilities making up the Public Improvements, and changes in proposed
configurations, locations or dimensions of the Public Improvements, shall be permitted to accommodate
development needs consistent with the then -current Approved Development Plans for the Project. The
District is an independent unit of local government, separate and distinct from the County, and its
activities arc subject to review by the County only insofar as they may deviate in a material manner from
the requirements of the Service Plan. Any action of the District which: (I) violates the limitations set
forth in Paragraphs V.A. I 9 above: or (2) violates the limitations set forth in Subsections VI.B-H below,
shall be deemed to be a material modification to this Service Plan, unless otherwise agreed by the County
as provided for in Section X of this Service Plan.
B. Primary Infrastructure Plan
The District shall have authority to provide for the planning, design, acquisition, construction,
installation, relocation, redevelopment, maintenance and financing of the Public Improvements within and
without the boundaries of the District, to be more specifically defined in an Approved Development Plan.
The Primary Infrastructure Plan, including: (I) a list of the Public Improvements to be developed by the
District; and (2) an estimate of the cost of the Public Improvements is attached hereto as Exhibit D. The
Map Depicting Public Improvements is attached hereto as Exhibit E. In accordance with Subsection 2-
14-20.L of the County Codc, the Map Depicting Public Improvements shall be provided to the County in
(at minimum) 24" x 36" format. The Map Depicting Public Improvements may be reduced as necessary
to permit filing of the approved Service Plan with the District Court for and in Weld County, Colorado.
As shown in the Primary Infrastructure Plan, the estimated cost of the Public Improvements which
may be planned for, designed, acquired, constructed, installed, relocated, redeveloped, maintained or
financed by the District is approximately 524,345000.
The District shall be permitted to allocate costs between such categories of the Public
Improvements as deemed necessary in its discretion.
All of the Public Improvements described herein will be designed in such a way as to assure that
the Public Improvements standards will be compatible with those of the County and shall be in
accordance with the requirements of the Approved Development Plan. All descriptions of the Public
Improvements to be constructed, and their related costs, are estimates only and arc subject to modification
as engineering, development plans, economics, the County's requirements and construction scheduling
may require. Upon approval of this Service Plan, the District will continue to develop and refine the
Primary Infrastructure Plan and the Map Depicting Public Improvements, as necessary, and prepare for
issuance of Debt. All cost estimates will be inflated to then -current dollars at the time of the issuance of
Debt and construction. All construction cost estimates contained in Exhibit D assume construction to
applicable local, state or federal requirements.
The Town of Eaton Mayor and Board of Trustees and the Weld County RE -2 School District
Board, with the assistance of outside experts and members of the community (collectively recreation
committee or organizing committee), have carefully evaluated the options for providing a high quality,
and cost effective recreation center to the area's citizens of today and future population. The recreation
committee has determined that the health, welfare, and opportunity for area citizens will be best served by
organizing a Park and Recreation District pursuant to the Colorado Special District Act, C.R.S §32-I-1111,
et seq. (Special District Act) and by transferring the Town's responsibility for providing recreation
programming to the Park and Recreation District upon its organization.
A five -member board of directors will govern the District and will be responsive to all property
owners, taxpayers and residents of the Recreation District in terms of the recreation needs and interests
and financial accountability. The Directors will be elected at the initial public election by eligible District
electors. The Board will adopt bylaws and rules of procedure as may be required by law.
The Recreation District will provide park and recreation facilities and programs within the
District as outlined by statute and as described in this Service Plan. With input and participation from
District electors and program participants, the Recreation District board of directors will adopt a master
plan for the District's activities and facilities from time -to -time. Any master plan or master plan
amendment that includes new or amended plans for financial indebtedness will be submitted to Weld
County for review and approval as required.
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After the Recreation District is organized, the board of directors will conduct public meetings
and oversee district management in accordance with statutory procedures and requirements, including
TABOR compliance. After the Recreation District is organized, the board of directors will approve a
budget, employ the services of needed staff, and retain competent legal and financial professionals to
ensure quality programs, financial responsibility, and conformance with this Service Plan.
The compatibility of the recreation center for the Eaton area has been emphasized by the
organizing committee. The architect which has been used by the Town for other designs, such as the
Eaton library, was selected to maintain consistency with other public buildings. In line with Eaton's
agricultural heritage, the preliminary design includes design similarities from Eaton's original train
station as well as the longstanding sugar factory. (Exhibit D)
The structural facility will accommodate the needs of the people within the proposed Recreation
District. The information collected from the 249 completed surveys in December 2012 showed a high
demand for an indoor recreational pool, a large gymnasium(with three volleyball/basketball courts
crosswise), multi -purpose meeting/group rooms, and a competitive swim and dive pool to host high
school and swim club meets and practices. There is a demand for a wide range of cardio and weight
lifting equipment and indoor walking/running track. A kitchen/concession area will be available for
programming use. Exhibit D shows initial floor plan design of the indoor facility. The outdoor facility
=rounds will address the requests by survey responders to potentially include but not be limited to a
splash park, walking/biking trails, gazebos, parks and volleyball pits. There is a high demand for youth
sports fields. Thcrc is proposed a youth soccer/lacrosse field and two youth baseball/softball fields
incorporated in the original design and initial phase of the outdoor grounds.
Although an outdoor swimming pool was highly requested, the initial phase does not include an
outdoor swimming pool. Exhibit E shows the initial layout of the proposed facility grounds.
Programming:
After the Recreation District organization, as tax funding becomes available, the Recreation
District will be responsible for programming. The Recreation District will coordinate and schedule use of
all available facilities. It will operate and maintain all facilities and grounds. It may adopt the current
Town Recreation Department programs as an initial foundation and as a smooth transition for existing
program participants. With enhanced facilities, the Recreation District will be able to undertake the
immediate development and improvement from Town recreation department.
The Recreation District will emphasize activities for all segments of the population. Special
programs for seniors will include physical fitness and social activities. The Recreation District will
identify and address unmet needs and expand and enhance community, clubs, and recreation opportunities
for seniors.
The Recreation District will identify and work to meet the social, recreation and fitness needs of
the people in the region with special needs. Rccrcation District facilities will be constructed in compliance
with the requirements of the Americans with Disabilities Act. The Recreation District will also provide
support and facilities for community -wide events. With a close working relationship with local
governmental entities, service clubs, senior and youth organizations, the Chamber of Commerce, local
businesses, and local committees, the Recreation District will be the center for civic involvement and
reflect the community's pride in the region.
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The Recreation District will also have the potential to provide or accommodate private programs
such as youth day camps, sports clinics, before and after school enrichment, infant and toddler programs,
and outsourced professional physical rehabilitation for all ages.
As the Recreation District matures and community groups and individual demands evolve,
classes and activities related to health, hobbies, crafts, self-improvements, and the arts may be
implemented. Some of these activities may be operated by existing groups that do not currently have an
adequate place to meet. The Recreation District will coordinate scheduling of facility use to provide
meeting times for these groups.
VI. FINANCIAL PLAN
A.General.
The District shall be authorized to provide for the planning, design, acquisition, construction,
installation, relocation and/or redevelopment of the Public Improvements from its revenues and by and
through the proceeds of Debt to be issued by the District. The Financial Plan for the District shall be to
issue such Debt as the District can reasonably pay within the Maximum Debt Mill Levy Imposition Term
from revenues derived from the Maximum Debt Mill Levy and other legally available revenues. The total
Debt that the District shall be permitted to issue shall not exceed the Total Debt Issuance Limitation and
shall be permitted to be issued on a schedule and in such year or years as the District determines shall
meet the needs of the Financial Plan referenced above and phased to serve development as it occurs. All
Bonds and other Debt issued by the District may be payable from any and all legally available revenues of
the District, including general ad valorem taxes to be imposed upon all taxable property within the
District. The District will also rely upon various other revenue sources authorized by law. These will
include the power to assess fees, rates, tolls, penalties or charges as provided in Section 32-1-1001(1),
C.R.S.
The Total Debt Issuance Limitation is supported by the Financial Plan prepared by George K.
Baum & Company, attached hereto as Exhibit F. The Financial Plan attached to this Service Plan
satisfies the requirements of Subsection 2-14-20.1 of the County Code.
B. Maximum Voted Interest Rate and Maximum Underwriting Discount.
The interest rate on any Debt is expected to be the market rate at the time the Debt is issued. In the
event of a default, the proposed maximum interest rate on any Debt is not expected to exceed fifteen
percent (15%). The proposed maximum underwriting discount will be five percent (5%). Debt, when
issued, will comply with all relevant requirements of this Service Plan, state law and federal law as then
applicable to the issuance of public securities.
C.Maximum Debt Mill Levy.
The Maximum Debt Mill Levy shall be the maximum mill levy the District is permitted to impose
upon the taxable property within the District for payment of Debt, and shall be fifty (50) mills: provided
that if, on or after January I, 2006, there arc changes in the method of calculating assessed valuation or
any constitutionally mandated tax credit, cut or abatement, the mill levy limitation applicable to such
Debt may be increased or decreased to reflect such changes, such increases or decreases to be determined
by the Board in good faith (such determination to be binding and final) so that, to the extent possible, the
actual tax revenues generated by the mill levy, as adjusted for changes occurring after January I, 2006,
arc neither diminished nor enhanced as a result of such changes. For purposes of the foregoing, a change
-II-
in the ratio of actual valuation to assessed valuation shall be deemed to be a change in the method of
calculating assessed valuation. All Debt issued by the District must be issued in compliance with the
requirements of Section 32-1-1101, C.R.S., and all other requirements of state law.
D.Maximum Debt Mill Levy Imposition Term.
The District shall not impose a levy for repayment of any and all Debt (or use the proceeds of any
mill levy for repayment of Debt) on any property which exceeds thirty (30) years after the year of the
initial imposition of such mill levy to such property unless a majority of the Board arc residents of the
District and have voted in favor of a refunding of a part or all of the Debt and such refunding will result in
a net present value savings as set forth in Section 11-56-101 et seq., C.R.S.
The District shall be limited to issuing new Debt within a period of fifteen (15) years from the date
of the District's first debt authorization election. The District may issue Debt after the fifteen -year period
in order to provide the services outlined in this Service Plan if development phasing is of a duration that
makes it impracticable to issue all debt within the fifteen -year period.
E. Debt Repayment Sources
The District will impose a mill levy on taxable property within its boundaries as a primary source
of revenue for repayment of debt service and for operations and maintenance, as operations and
maintenance functions arc specifically addressed in this Service Plan. The District may also rely upon
various other revenue sources authorized by law. At the District's discretion, these may include the power
to assess fees, rates, tolls, penalties or charges as provided in the Special District Act. In no event shall
the debt service mill levy in the District exceed the Maximum Debt Mill Levy.
F. Security for Debt.
The District shall not pledge any revenue or property of the County as security for the indebtedness
set forth in this Service Plan. Approval of this Service Plan shall not be construed as a guarantee by the
County of payment of any of the District's obligations; nor shall anything in the Service Plan be construed
so as to create any responsibility or liability on the part of the County in the event of default by the
District in the payment of any such obligation.
G.TABOR Compliance
The District will comply with the provisions of TABOR. In the discretion of the Board, the
District may set up other qualifying entities to manage, fund, construct and operate facilities, services and
programs. To the extent allowed by law, any entity created by the District will remain under the control
of the District's Board.
It District's Operating Costs.
The estimated cost of leasing land, obtaining architectural services, legal services and
administrative services, together with the estimated costs of the District's organization, arc anticipated to
be up to 580,000, which will be eligible for reimbursement from Debt proceeds.
-12-
In addition to the capital costs of the Public Improvements, the District will require operating funds
for administration and to plan and cause the Public Improvements to be operated and maintained. The
first year's operating budget is estimated to be SI.2 million, which is anticipated to be derived from
property taxes (SI,050,000) ,050,000) and other revenues (S 150,000). This is in addition to the debt service budget
of S1,434,38 I which begins in the year after the debt is issued. (Exhibit F)
If approved by the voters, bonded indebtedness of up to S25 million is expected late in 2014 or
early in 2015. See Exhibit F for an assessed valuation projection by George K. Baum & Company, which
illustrates 524 million of debt. An operating mill levy of up to 3.0 mills is anticipated. Combined with the
anticipated debt service mill levy of 3.924 (Exhibit F), the total mill levy is anticipated to be
approximately 6.924.
Cost recovery of approximately 20-25% is eventually anticipated from facility user fees and
rentals.Such fees include admission charges which will be reduced for District residents. Such charges
may be structured in daily, monthly or annual passes. In addition, rental fees arc anticipated for use of the
facilities for certain events. Furthermore, registration fees for team sports arc anticipated.
The initial efforts of planning the District have been donated, performed by the organizing
committee, or will be paid by debt proceeds as approved by the voters. The Town of Eaton has paid
preliminary architectural costs with the understanding they may be offset by private donations.
The land will be provided through long-term lease or sale by the Weld County School District RE -
2 in partial exchange for use of the recreation center facilities.
A total bonded debt of up to S25 million is anticipated. See Exhibit F for a sample repayment
schedule based on bonding S24 million, prepared by George K. Baum & Company. At an average interest
rate of approximately 3.3%, annual payments will be approximately 51,435 O00 for 25 years.
The Maximum Debt Mill Levy for the repayment of Debt shall not apply to the District's ability to
increase its mill levy as necessary for provision of operation and maintenance services to its taxpayers and
service users. The Aggregate Mill Levy Cap shall be the maximum mill levy the District is permitted to
impose upon the taxable property within the District for payment of Debt and operations and maintenance
functions, and shall be sixty-five (65) mills: provided that if, on or after January I, 2006, there are
changes in the method of calculating assessed valuation or any constitutionally mandated tax credit, cut or
abatement, the mill levy limitation applicable to such Debt may be increased or decreased to reflect such
changes, such increases or decreases to be determined by the Board in good faith (such determination to
be binding and final) so that, to the extent possible, the actual tax revenues generated by the mill levy, as
adjusted for changes occurring after January 1, 2006, arc neither diminished nor enhanced as a result of
such changes. For purposes of the foregoing, a change in the ratio of actual valuation to assessed
valuation shall be deemed to be a change in the method of calculating assessed valuation. Although the
operations and maintenance mill levy imposed by the District may exceed fifteen (15) mills as part of the
Aggregate Mill Levy Cap, the debt service mill Icvy may not exceed the Maximum Debt Mill Levy.
I. Elections
The District will call an election on the questions of organizing the District, electing the initial
Board and setting in place the proposed financial structure as required by TABOR. The election will be
conducted as provided in the Uniform Election Code of 1992, the Municipal Election Code and TABOR.
At least thirty (30) days prior to the District's organizational election, the proposed ballot questions shall
be submitted to the County for review to ensure that said ballot questions arc in compliance with this
Service Plan.
-13-
It is intended that the Recreation District questions be included on a general election ballot.
Questions to be presented to District electors will address:
• Formation of the Eaton Area Park and Recreation District.
• Election of the Board of Directors of the District.
• Approval of an operations mill levy of up to 3.1) mills.
• Approval of bond authorization in the amount of up to S25,000.000 for construction of
facilities as described in this Service Plan, with the accompanying debt service mill levy
(expected to be approximately 3.924 mills for a total approximate mill levy of 6.924). This
also includes contingencies, capitalized interest and cost of issuance.
• "De-Brueing' elimination of TABOR mill levy restrictions and "5.5%" property lax
limitations (without raising mill levies).
VII. ANNUAL REPORT
A.General.
The District shall be responsible for submitting an annual report with the County Clerk not later
than March I of each year following the year in which the Order and Decree creating the District has been
issued by the District Court for and in Weld County, Colorado.
B.Reporting of Significant Events.
The annual report shall include information as to any of the following:
I. Boundary changes made or proposed to the District's boundary as of December 31 of the prior
year.
2. Intergovernmental Agreements with other governmental entities, either entered into or proposed
as of December 3 I of the prior year.
3. Copies of the District's rules and regulations, if any, as of December 31 of the prior year.
4. A summary of any litigation which involves the District Public Improvements as of December
3l of the prior year.
5. Status of the District's construction of the Public Improvements as of December 31 of the prior
year.
6. A list of all facilities and improvements constructed by the District that have been dedicated to
and accepted by the County as of December 31 of the prior year.
7. The estimated assessed valuation of the District for the current year.
S. Current year budget including a description of the Public Improvements to be constructed in
such year.
- 14 -
9. Audit of the District's financial statement, for the year ending December 31 of the previous year,
prepared in accordance with generally accepted accounting principles or audit exemption, if applicable.
VIII. DISSOLUTION
Upon a determination of the BOCC that the purposes for which the District was created have been
accomplished, the District agrees to file a petition in the District Court in and for Weld County, Colorado,
for dissolution, in accordance with the provisions of the Special District Act. In no event shall dissolution
occur until the District has provided for the payment or discharge of all of its outstanding Debt and other
financial obligations as required pursuant to state statutes. If the District is responsible for ongoing
operations and maintenance functions under this Service Plan (Long -Term District Obligations), the
District shall not be obligated to dissolve upon any such BOCC determination. However, should the
Long -Term District Obligations be undertaken by the County or other governmental entity, or should the
District no longer be obligated to perform the Long -Term District Obligations, the District agrees to
commence dissolution proceedings as set forth above.
IX. PROPOSED AND EXISTING INTERGOVERNMENTAL AGREEMENTS AND
EXTRATERRITORIAL SERVICE AGREEMENTS
Execution of intergovernmental or extraterritorial agreements by the District that are not described
in this Service Plan shall require a forty -five-day notice publication and written notice to the BOCC
pursuant to Section 32 -1 -207(3)(b), C.R.S. If, within forty-five (45) days of the publication of such
notice, the BOCC expresses to the District a written objection to the proposed agreements, then the entry
into said agreements without the prior written approval of the BOCC shall be considered a material
modification of this Service Plan and shall be resolved only in accordance with Section 32-1-207(2),
C.R.S.
Local governments with whom the Recreation District will negotiate intergovernmental agreements
include the Town of Eaton and the Weld County RE -2 School District. There may also be opportunities
for shared programs and facilities with neighboring towns and school districts. Resolutions from the
Town and School District, indicating support and a willingness to arrange for shared facilities are attached
as Exhibit G.
The agreement with the Town will likely include continued use of the existing recreation center
while construction is ongoing as well as potential use of the new recreation center for other Town
programs.
The initial agreement with the RE -2 School District will be to convey the land which will be
partially satisfied with the inclusion of a competitive pool in the recreation center for use by Eaton High
School as well as for swimming classes for the other schools. The general meeting rooms, gymnasiums
and outdoor facilities will also be available for school use.
Future agreements with the School District will be to coordinate the placement and type of
outdoor fields with those needed by the future high school facility.
- 15 -
X. MATERIAL MODIFICATIONS
Material modifications to this Service Plan may be made only m accordance with Section 32-1-
207, C.R.S. All modifications to the written provisions of this Service Plan, whether deemed material or
otherwise, must be approved by the County prior to becoming effective, and the District shall not be
permitted to unilaterally make such modifications. No modification shall be required for an action of the
District which does not materially depart from the provisions of this Service Plan. The District may
request from the County a determination as to whether the County believes any particular action
constitutes a material departure from the Service Plan, and the District may rely on the County's written
determination with respect thereto: provided that the District acknowledges that the County's
determination as aforesaid will be binding only upon the County, and will not be binding upon any other
party entitled to enforce the provisions of the Service Plan as provided in Section 32-1-207, C.R.S.
XI. CONCLUSION
It is submitted that this Service Plan for the District, as required by Section 32-1-203(?), C.R.S.,
and Section 32-1-203(3), C.R.S., establishes that:
I. There is sufficient existing and projected need for organized service in the arca to be serviced by
the District:
2. The existing service in the arca to be served by the District is inadequate for present and
projected needs;
3. The District is capable of providing economical and sufficient service to the arca within its
proposed boundaries:
4. The area to be included in the District does have, and will have, the financial ability to discharge
the proposed indebtedness on a reasonable basis;
5. Adequate service is not, and will not be, available to the area through the County or other
existing municipal or quasi -municipal corporations, including existing special districts, within a
reasonable time and on a comparable basis;
6. The facility and service standards of the District arc compatible with the facility and service
standards of the County and each municipality which is an interested party under Section 32-1-204(1),
C.R.S.:
7. The proposal is in substantial compliance with the County's Master Plan adopted pursuant to
Section 30-28-106, C.R.S.;
8. The proposal is in compliance with any duly adopted County, regional or state long-range water
quality management plan for the area;
9. The creation of the District is in the best interests of the area proposed to be served: and
ID. The creation of the District is in the best interests of the residents and future residents of the
area proposed to be served.
- 16 -
XII. RESOLUTION OF APPROVAL
The District agrees to incorporate the BOCC's resolution of approval, including any conditions on
any such approval, into the Service Plan presented to the District Court for and in Weld County,
Colorado.
EXHIBIT A - Legal Descriptions
EXHIBIT B - Vicinity Map
EXHIBIT C - Initial District Boundary Map
EXHIBIT D - Primary Infrastructure Plan
EXHIBIT E - Map Depicting Public Improvements
EXHIBIT F - Financial Plan
EXHIBIT G - Resolutions of Support
EXHIBIT H - Assessed Valuation
(Weld County Codc Ordinance 2007-6)
-17-
A PARCEL OF LAND BEING PART OF THE SW 114 OF SECTION 36, TOWNSHIP 7 NORTH,
RANGE 66 WEST OF THE 6TH P. M., COUNTY OF WELD, STATE OF COLORADO AND
BEING MORE PARTICULARLY DESCRIBED AS FOLLOWS:
BEGINNING AT THE SOUTHWEST CORNER OF SAID SECTION 36 AND ASSUMING THE
WEST LINE OF SAID SW I/4 AS BEARING NORTH 03 DEGREES 54 MINUTES 25 SECONDS
EAST, BEING A GRID BEARING OF THE COLORADO STATE PLANE COORDINATE
SYSTEM, NORTH ZONE, NORTH AMERICAN DATUM 1983/92, A DISTANCE OF 2664.11
FEET WITH ALL OTHER BEARINGS CONTAINED HEREIN RELATIVE THERETO. FROM
SAID SOUTHWEST CORNER THE SOUTH QUARTER CORNER OF SAID SECTION 36 BEARS
NORTH 88 DEGREES 37 MINUTES 54 SECONDS EAST A DISTANCE OF 2891.80 FEET;
THENCE NORTH 03 DEGREES 54 MINUTES 25 SECONDS EAST ALONG SAID WEST LINE A
DISTANCE OF 2593.78 FEET TO A POINT 80 FEET SOUTHERLY OF AS MEASURED AT
RIGHT ANGLES TO THE NORTH LINE OF SAID SW I/4; THENCE NORTH 88 DEGREES 42
MINUTES 34 SECONDS EAST ALONG A LINE 80 FEET SOUTHERLY OF AS MEASURED AT
RIGHT ANGLES TO TILE NORTH LINE OF SAID S W I /4 A DISTANCE OF 1628.17 FEET TO
THE WEST LINE OF NORTHWEST SUBDIVISION THIRD FILING (NSTF) AS RECORDED
SEPTEMBER 13; 1977 IN BOOK 808 AS RECEPTION NUMBER 1730237 OF THE RECORDS OF
THE WELD COUNTY CLERK AND RECORDER (WCCR); THENCE SOUTH 0I DEGREES 23
MINUTES 41 SECONDS EAST ALONG THE WEST LINE OF SAID NSTF AND THE WEST
LINE OF CENTENNIAL SUBDIVISION AS RECORDED OCTOBER 20, 1992 IN BOOK 1355 AS
RECEPTION NUMBER 02307384 OF THE RECORDS OF THE WCCR A DISTANCE OF 2570.63
FEET TO THE SOUTH LINE OF SAID S W I/4; THENCE SOUTH 88 DEGREES 37 MINUTES 54
SECONDS WEST ALONG SAID SOUTH LINE A DISTANCE OF 1866.90 FEET TO TIM POINT
OF BEGINNING, COUNTY OF WELD, STATE OF COLORADO.
TOGETHER WITH TWO WATER WELLS HAVING PERM IT NUMBERS 1-14543 AND 2-14544.
Hensel Phelps
Construction Co.
Job Name
Eaton Community Rec Center
Owner: Town of Eaton
Architect: Thorp Associates PC
Estimate Type: Cost Model
Current Date: 4 -Jun -2013
Eaton Community Rec Center
Cost Model
Owner Town of Eaton
Are heed Thorp Associates PC
(Drawing Date 2-Apr-DOID
Revision No 02
Project Description:
115.000 SF Rec Center with 40 des of sitewoik
PROJECT SECTOR:
Dior
Roc Center
Parhing and
rep
Baseball I
Soccer)
e
Ponds I Disc
'MA
Orme Lanes
sollbail/T-Ball
Tennis
Golf
GROSS FLOOR AREA:
93,250 GSF
93,250 GSF
Common's
SECONDARY UNIT OF MEASURE
0 EACH
SEC. PARAMETER
SIGSF
AMOUNT
AMOUNT
AMOUNT
AMOUNT
AMOUNT
5/GSF
AMOUNT
Ate
FOUNDATIONS
11.39
1,061700
((D9
1061,700
ADO
BASEMENT CONSIRUC HON
0.00
0
0.00
0
B IC
SUPERSTRUCTURE
2104
2.036,226
21.04
2036,226
B20
EXTERIOR CLOSURE
25.14
2,344,628
25.14
7346620
530
ROOFING
10.54
902450
1054
902450
CIO
INTERIOR CONSTRUCTION
11.40
1,063,308
11.40
1063,308
C20
STAIRS
2.87
267,500
2.87
267,500
C30
INTERIOR FINISHES
10.01
913361
10.01
933.361
DI0
CONVEYING
043
4?000
0.43
40000
020
PLUMBING
9.00
839,250
9.00
030,350
030
HVAC
1800
1675.500
16.00
1678,500
D40
FIRE PRO I EC I ION
1.49
139.000
145
139,000
D50
ELECTRICAL
1221
1.130.375
12.21
1138,375
El0
EQUIPMENT
4.17
388 500
4.17
388.500
E20
FURNISHINGS
047
44000
047
44,000
FIC
SPECIAL CONSTRUCTION
6.55
611.000
6.55
611.000
F20
SELECTIVE BUILDING DEMOLITION
0.00
0
0.00
0
610
SITE PREPARATIONS
-
119,150
255497
85925
141127
-
601694
G20
SITE IMrROVEMEFITS
-
1.332.246
1.317.235
359860
531361
-
3.540,710
030
SITE CIVIL / MECHANICAL UI'ILI I ISO
-
185,200
36,000
11,000
10600
-
250.000
040
SITE EL ECTRICAI UTILITIES
-
-
230,000
70,000
0
170 000
-
470,000
G90
OTHER SITE CONSTRUCTION
-
-
0
0
0
0
-
0
Subtotal - BUILDING & SITE
145.50
13,567,798
1,866,596
1,678,732
456,793
061003
197.65
18,431,002
GENERAL CONDITIONS
21010
General Conditions
9.07
9201/5
126,594
113,852
30,980
58.399
13.40
1250.000
21015
Vertical Hormel°
0.00
w/COW
wrCOW
wiCOW
wICOW
wICOW
0.00
wrCO'W
Z10
General Conditions
9.07
920,175
126,554
113,852
30580
58,399
13.40
1250,000
INDIRECTS & RESERVES
21020
Conlradors Bonds
000
Nol Regd
Nol Rea
Nol Reqd
Not Reid
Not [Right
0.00
Not Read
21025
Subcontractor & Sappier Bonds
1.45
135.678
18666
16.787
4.568
0611
190
154,310
Z1030
Builders Risk Insurance
0.24
22.084
3038
2,732
744
1.402
0.32
30,000
21040
Genmal Liottddy Insurance
104
97.074
13,355
12,011
3.268
6,161
141
131,069
Z1050
Permits
1,25
116.491
16,026
14.413
3,922
7,393
1.70
158,245
21070
A& E Design Cools
7.89
736.140
101,275
91082
21784
46719
10.72
1,000,000
21000
Professional Liability Insurance
0.00
w/AE Fee
w1AG Fee
wIAE pee
w/AE Fee
vaSE Fee
000
WISE Fee
Z1090
Gross Receipts Tao
0.00
Not Reed.
Not Reqd.
Not Regd.
Not Regd.
Not Regd.
000
Not Regd.
Z1100
Utility Development B Tap Fees
1.18
110421
15,191
13,662
3.710
7.005
1.61
150000
21110
Hazardous Material Abatement
x000
Not Regd.
Nol Reqd.
Not Regd.
Not Reqd.
Not Reels.
000
Nol Regd.
Z1120
Testing & Inspections
0.00
Fly Owner
By Owner
By Owner
ByOwner
By Owner
0.00
By Owner
21130
Escalation
0.00
None
None
None
None
None
0.00
None
21140
Bidding B Conslructen Reserves
10.90
1.023,656
140.830
125.656
34.464
64966
Id91
1390572
ZI150
Preconoeuclian Costs
0.39
36,007
5 064
4,554
1.239
2.336
0.54
50000
21160
Building lnlormalion Modeling (BIM)
0.00
svICOW
wICOW
wICOW
wICOW
w/COW
000
wICOW
ZI190
G6A-Corporals
4.40
410,158
57.666
51.062
14.112
26.602
6.11
569400
Z20
Indirect,. & Reserves
28.93
2,697,509
371,111
333,760
90,818
171,190
39.30
3,664,396
FEES
21060
Contractor's Foe
7.89
736,140
101,275
91,082
24,784
46.719
1072
1,000000
210
Fees
7.09
736,140
101,275
91,082
24,784
46,719
10.72
1,000,000
Project Total
192.19
17,921,622
3,465,575
2,2 7.42
603.375
1137,399
261,08
24,345398
Total Cool I Unit
-
-
The information contained in this estimate is the proprrelery property of Hensel Phelps Caner drew Co. and may be used only b the authorized ecipient A y reproduction or other reuse of this
e sum le or patio is thereof nnnino0I the express con enl of Hensel Phelps Construction Co. is strially prahihited.
Hensel Phelps
Construction Co.
Page 1 oil
E.stlrnatar. RAM stellate Checker AB
Curren! Date 4 -Jun -2013
Workbook- 2013-06-04 ' felon Rec Confer. rls
EATON AREA PARK AND RECREATION DISTRICT
(Weld County, CO)
General Obligation Bonds
Series 2014
SOURCES & USES
As of 05/20/13
Assumed "A" Rated
SOURCES
Principal Amount
Total 24,000,000
$ 24,000,000
USES
Deposit to Project Fund
Deposit to Capitalized Interest Fund
Cost of Issuance
Total
$ 23,639,500
110,500
250,000
ASSUMPTIONS
24,000,000
Dated Date
First Interest Date
First Maturity Date
Final Maturity Date
9/30/2014
12/1/2014
12/1/2015
12/1/2038
Series 2013 Call Date 12/1/2024
RESULTS
Average Coupon
Arbitrage Yield
All Inclusive Cost of Capital
Net Interest Cost
Average Life
Life of Issue
3.303592%
3.102900/
3.242237%
3.338286%
13.27
24.17
Prepared by George K. Baum & Company
EATON AREA PARK AND RECREATION DISTRICT
(Weld County, CO)
General Obligation Bonds
Series 2014
DEBT SERVICE SCHEDULE
As of 05/20/13
Assumed "A" Rated
Capitalized Annual
Date Principal Coupon Yield Interest Debt Service Interest Debt Service
(1) (2) (3) (4) (5) (6) (7) (8)
9/30/2014
12/1/2014 110,881.23 110,881.23
6/1/2015 327,190.50 327,190.50
12/1/2015 780,000 0.520% 0.520% 327,190.50 1,107,190.50
6/1/2016 325,162.50 325,162.50
12/1/2016 785,000 0.710% 0.710% 325,162.50 1,110,162.50
6/1/2017 322,375.75 322,375.75
12/1/2017 790,000 0.980% 0.980% 322,375.75 1,112,375.75
6/1/2018 318,504.75 318,504,75
12/1/2018 795,000 1.250% 1.250% 318,504.75 1,113,504.75
6/1/2019 313,536.00 313,536.00
12/1/2019 805,000 1.540% 1.540% 313,536.00 1,118,536.00
6/1/2020 307,337.50 307,337.50
12/1/2020 820,000 1.830% 1.830% 307,337.50 1,127,337.50
6/1/2021 299,834.50 299,834.50
12/1/2021 835,000 2.090% 2.090% 299,834.50 1,134,834.50
6/1/2022 291,108.75 291,108.75
12/1/2022 850,000 2.320% 2.320% 291,108.75 1,141,108.75
6/1/2023 281,248.75 281,248.75
12/1/2023 870,000 2.510% 2.510% 281,248.75 1,151,248.75
6/1/2024 270,330.25 270,330.25
12/1/2024 895,000 2.630% 2.630% 270,330.25 1,165,330.25
6/1/2025 258,561.00 258,561.00
12/1/2025 915,000 2.750% 2.750% 258,561.00 1,173,561.00
6/1/2026 245,979.75 245,979.75
12/1/2026 940,000 2.870% 2.870% 245,979.75 1,185,979.75
6/1/2027 232,490.75 232,490.75
12/1/2027 970,000 2.970% 2.970% 232,490.75 1,202,490.75
6/1/2028 218,086.25 218,086.25
12/1/2028 1,000,000 3.060% 3.060% 218,086.25 1,218,086.25
6/1/2029 202,786.25 202,786.25
12/1/2029 1,030,000 3.140% 3.140% 202,786.25 1,232,786.25
6/1/2030 186,615.25 186,615.25
12/1/2030 1,060,000 3.210% 3.210% 186,615.25 1,246,615.25
6/1/2031 169,602.25 169,602.25
12/1/2031 1,095,000 3.270% 3.270% 169,602.25 1,264,602.25
6/1/2032 151,699.00 151,699.00
12/1/2032 1,130,000 3.320% 3.320% 151,699.00 1,281,699.00
6/1/2033 132,941.00 132,941.00
12/1/2033 1,170,000 3.370% 3.370% 132,941.00 1,302,941.00
6/1/2034 113,226.50 113,226.50
12/1/2034 1,205,000 3.420% 3.420% 113,226.50 1,318,226.50
6/1/2035 92,621.00 92,621.00
12/1/2035 1,250,000 3.460% 3.460% 92,621.00 1,342,621.00
6/1/2036 70,996.00 70,996.00
12/1/2036 1,290,000 3.500% 3.500% 70,996.00 1,360,996.00
6/1/2037 48,421.00 48,421.00
12/1/2037 1,335,000 3.540% 3.540% 48,421.00 1,383,421.00
6/1/2038 24,791.50 24,791.50
12/1/2038 1,385,000 3.580% 3.580% 24,791.50 1,409,791.50
(110,881.23)
1,434,381.00
1,435,325.00
1,434,751.50
1,432,009.50
1,432,072.00
1,434,675.00
1,434,669.00
1,432,217.50
1,432,497.50
1,435,660.50
1,432,122.00
1,431,959.50
1,434,981.50
1,436,172.50
1,435,572.50
1,433,230.50
1,434,204.50
1,433,398.00
1,435,882.00
1,431,453.00
1,435,242.00
1,431,992.00
1,431,842.00
1,434,583.00
24,000,000 10,521,775 34,521,775 (110,881) 34,410,894
Prepared by George K. Baum & Company
EATON AREA PARK AND RECREATION DISTRICT
(Weld County, CO)
General Obligation Bonds
Series 2014
TAX IMPACT
Growth Rate
Date
113
1505.
Assessed
Value
12)
Annual
Debt Sense
On Bonds
131
Bond Mill
Levy At
9910:
Collection
(41
Property Tao
Revenue
f5)
Treasurers
fee
161
Specific
Owne'sbip Tax
I]3
Revenue
Available for
Debt Service
18)
Annual
Surplus/[Deficit)
191
Annual
Impact Per
6100.000
of Res. Value
1101
Annual
Impact Per
$310.000
of Res. Value
(11)
Annual Annual
Impact Per Impact Per
$500000 $300,930
of Res. Value of Corn Value
112) 113)
9/30/2014
12/1/2014
6/1/2015
1503.
7.0015
a '-'.'.;,
7.96";
796+,
79fi;,.
29.00„
12/1/2015
350.000.000
1,434.38100
3.924
1.35969763
20,395.46
96178.83
1.434,481.00
10000
31.24
93.71
156.18
34140
6/1/2016
12/1/2016
355.250,000
1.435.325.00
3869
1,360,59242
20408.89
95,24147
1,435.425.00
100.00
30.79
92.38
153.97
336.57
6/1/2017
12/1/2017
360,578.750
1,434,751.50
3.810
1,360,048.82
20.400 73
95,20342
1,434.851 50
100.00
30.33
9098
151.64
331.47
6/1/2013
12/1/2019
36598]431
1,432.009 50
3.746
1.35]44976
20,361.75
95,02148
1.432,109.50
10000
2982
89.47
149.11
32594
6/1/2019
12/1/2019
371.477.243
1,432.072 00
3.691
1.357.50900
20,362.64
95,025.63
1.432,172.00
10000
2938
88.15
14691
321.14
6/1/2020
12/1/2020
37)049.401
1.434.675.00
3.643
1,359,976.30
20,399.64
95.198.34
1.434.775.00
100.00
29.00
87.00
145.00
316.97
6/1/2021
12/1/2021
382,705.142
1,434,669.00
3.589
1,359,970.62
20,399.56
95,197.91
1,434.769.00
10000
28.57
85.72
142.86
312.28
6/1/2022
12/1/2022
383.445.720
1,432.217.50
3.530
1.357,646 92
20,364.70
95.035.28
1432,317.50
100.00
28.10
84.31
140.51
307.14
6/1/2023
12/1/2023
394.272,405
1,432.497.50
3.479
1,357,912 32
20368.68
95.05386
1.432,597.50
100.00
27.69
83.08
138.46
302.66
6/1/2024
12/1/2024
400,186,491
1,435,660.50
3435
1.360,91043
20,413.66
95.26373
1,435,760.50
100.00
27.34
82.03
136.71
298.85
6/1/2025
12/1/2025
406.189.289
1,432,122.00
3.376
1.357,55640
20,363.35
95.028.95
1432,222.00
100.00
26.87
80.62
134.36
293.71
6/1/2026
12/1/2026
406.189.289
1,431,959.50
3.376
1.357,402 37
20,361 04
95,018 17
1,432,059.50
100.00
26.87
80.61
134.35
293.67
6/1/2027
12/1/2027
406,189,289
1,434,981.50
3.383
1,360,266.82
20,404.00
95,218.68
1,435,081 50
100.00
26.93
80.78
134.63
294.29
6/1/2023
12/1/2023
406,189.289
1,436,172.50
3.385
1.361,395 73
20.420.94
95.297.70
1436.272.50
100.00
26.95
80.85
134.74
294.54
6/1/2029
12/1/2029
406.189.289
1,435,572.50
3.384
1.360.82701
2041241
95.25789
1,435,672.50
100.00
26.94
80.81
134.69
294.41
6/1/2030
12/1/2030
406,189,289
1,433,230,50
3.379
1,358,607.11
20,379.11
95,102.50
1,433,330.50
100.00
26,89
80.68
134,47
293,93
6/1/2031
12/1/2031
406,189.289
1434,204.50
3.381
1.359,530 33
20,392 95
95.167 12
1434.304.50
100.00
26.91
80.73
134.56
294.13
6/1/2032
12/1/2032
406,189.289
1433.398.00
3.379
1.358.76588
20,381.49
95.11361
1,433,498.00
10000
26.90
80.69
134.48
293.97
6/1/2033
12/1/2033
406.189,289
1435,882.00
3.385
1,361,120.38
20,41631
95,278.43
1,435,98200
10000
2634
8083
134.21
294.48
6/1/2034
12/1/2034
406,189.289
1431453.00
3.374
1.356,922 27
20.353.83
94,984.56
1431.553.00
100.00
26.86
80.58
134.30
293.57
6/1/2035
12/1/2035
406189.289
1,435.24200
3.383
1.360513 74
20,407.71
95.23596
1,435,342.00
10000
2693
80.79
134.65
294.35
6/1/2036
12/1/2036
406,189.289
1,431.99200
3.376
1.357.433 18
20,361.50
95,020.32
1,432,092.00
10000
2687
80.61
134.35
29368
6/1/2037
12/1/2037
406.189,289
1,431,842.00
3.375
1,357,29100
20,359.36
95,010.37
1,431,942.00
100.00
26.87
80.60
134.34
293.65
6/1/2033
12/1/2033
406,189.289
1,434,583.00
3.382
1,359,889 10
20.398.34
95,192 24
1,434,683.00
100.00
26.92
80.76
134.59
294.21
34.410,894
32619,236
489,789
2,283,346
34.4/3,294
2,400
669
2,007
3345
7,311
nr of 03,320/13
Assumed "A" Rated
Prepared by George N. Baum & Company
TOW OF EATON, COLORADO
RESOD. TION NO. 2013-(13
StPPORTIVG THE FORMATION OF A PARK AND RECREATION DISTRICT
WHEREAS, the 1O\\ of Eaton has onlc limited ability to pros ide recreation services.
and
WHEREAS. the Board of 'I rustccs lira; that there is a present need Ibr additional
recreation facilities and programming Ior current and future residents of all ages and
WHEREAS, the Town of Eaton anticipates that population growth and demand for
recreation service' ‘titbit the area till continue: and
‘WHEREAS, the lotcn of Eaton has certain paths and facilities that could be made
ail._ble tar program:, of a Recreation District
NOW 7IlEREFORE, BE IT RESOLVED B\' THE BOARD OF TRUSTEES OF
'I HE 'I OWN OF EATON, COLORADO, THAT:
I h::t tlu Board of I nrste> supports the lot nation ofa recreation district that
is co urn inous vyith the bound.rrics of the Eaton RE -2 School District
Rea cation l)b,:rict butted. the 'I ones of Eaton is waning to
negotiate is ith such district for occasional progranuninu and use of town of
Eaton parks and facilities.
ADOP I Fl) AND APPROVED this 1tith dat of ;April. 21)1
TOWN OF EATON. COLORADO
ATTEST:
Re:
I rika Raule). 16strt C'ferk
RN
rtw
k;J.'1
/0,4-
ymz_A
ii
acor Scott P. \loser
EATON SCHOOL DISTQICT PE -2
OFFICIAL QESOLITION
SUPPORTING TIIE FORMATION OF A PARK AND
RECREATION DISTRICT
WHEREAS, the board of education has only limited ability
to provide recreation services; and
WHEREAS, the board of education finds that there is a
present need for additional recreation facilities and programming
for current and future residents of all ages; and
WHEREAS, the board of education anticipates that
population growth demand for recreation services within the area
will continue; and
WHEREAS, the school district has certain fields and
facilities that could be made available for programs of a park and
recreation district;
IT IS, THEREFORE, RESOLVED that the board of
education supports the formation of a park and recreation district;
and
BE IT FURTHER RESOLVED that if a park and
recreation district is formed, the board of education is willing to
negotiate with such district for programming and use of school
district fields.
Resolution approved by Eaton School Board 5/13/2013
Well this is just a rough guess, but currently we have $371,811,319 in assessed value in RE2.
And if we take out the properties over 40 acres that are being assessed as agricultural, the
new total would approximately be $350,401,499 in assessed value. I am unable to come up with
any actual values as that will require some programming, and if we go that route, I will have to
charge you for the information and I wouldn't be able to get to it until sometime around the end
of January. Hope this is enough for what you need.
Let me know if you need anything else.
Thanks
Jackie Weimer
Assessment Coordinator
Weld County Assessor's Office
1400 N 17th Avenue Greeley, CO 80631
970-353-3845 x3655 Fax: 970-304-6433
::s --1[c' ,4we GIGO
Confidentiality Notice: This electronic transmission and any attached documents or other writings are intended only for the person or entity to
which it is addressed and may contain information that is privileged, confidential or otherwise protected from disclosure. If you have received this
communication in error, please immediately notify sender by return e-mail and destroy the communication. Any disclosure, copying, distribution or
the taking of any action concerning the contents of this communication or any attachments by anyone other than the named recipient is strictly
prohibited.
STA` E OF COLORADO
DEPARTMENT OF LOCAL AFFAIRS
DIVISION OF LOCAL GOVERNMENT
Local Government Services
1313 Sherman Street, Suite 521
Denver, Colorado 80203
Phone: (303) 866-2156
FAX: (303) 866-4819
TDD: (303) 866-5300
Bill Owens
Governor
Michael L. Beasley
Executive Director
NOTICE OF FILING OF SPECIAL DISTRICT SERVICE PLAN
Pursuant to Section 32-1-202(1), C.R.S., the County Clerk and Recorder and/or Clerk to the Board
shall notify the Division of Local Government within five days after the filing of a service plan for the
formation of a new special district. Please provide the information indicated and return this form to
the Division of Local Government.
Eaton Area Park and Recreation District July 15, 2013
Name of Proposed District Filing Date
Recreation District October 14, 2013
Type of District Proposed Date of Hearing
9:00 AM
Time of Hearing
Dr. Randy Miller
Weld County Administration Building
1150 O Street, Greeley, CO 80631
Location of Hearing
(970)454-3402 _
Contact Person Filing Service Plan Phone
Weld County, Colorado
County Receiving Service Plan
FORM DLG — 60
Revised 6/02
Esther Gesick
From:
To:
Sent:
Subject:
Michelle Martin
Esther Gesick
Friday, July 19, 2013 5:06 PM
Read: Notice of Filing - Service Plan - Eaton Area Park and Rec District
Your message was read on Friday, July 19, 2013 5:06:17 PM (GMT -07:00) Mountain Time (US & Canada).
Esther Gesick
To:
Subject:
Thank you!
Fairchild - DOLA, Quinn
RE: Notice of Filing - Service Plan - Eaton Area Park and Rec District
Esther E. Gesick
Deputy Clerk to the Board/Office Manager
1150 O Street' P.O. Box 7581 Greeley, CO 80632
tel: (970) 336-7215 X4226
bd
Confidentiality Notice: This electronic transmission and any attached documents or other writings are intended only for the person or entity to which it is addressed
and may contain information that is privileged, confidential or otherwise protected from disclosure. If you have received this communication in error, please
immediately notify sender by return e-mail and destroy the communication. Any disclosure, copying, distribution or the taking of any action concerning the contents
of this communication or any attachments by anyone other than the named recipient is strictly prohibited.
From: Fairchild - DOLA, Quinn[mailto:ouinn.fairchild(a)state.co.us]
Sent: Wednesday, July 24, 2013 9:34 AM
To: Esther Gesick
Subject: Re: Notice of Filing - Service Plan - Eaton Area Park and Rec District
Esther,
Apologies for the delayed response, somehow this email ended up in my spam folder! I will pass this on to the
appropriate person.
Thank you,
Quinn
Quinn Fairchild
Administrative Assistant III
Colorado Department of Local Affairs
Division of Local Government
1313 Sherman St. Suite 521
Denver, CO 80203
t: 303-866-2156
f: 303-866-4819
e: auinn.fairchild@state.co.us
w: htta://dola.colorado.gov
On Fri, Jul 19, 2013 at 5:01 PM, Esther Gesick <egesick@co.weld.co.us> wrote:
1
Quinn,
Please see the attached Notice and let me know if you need anything further.
Have a great weekend!
Esther E. Gesick
Deputy Clerk to the Board/Office Manager
1150 O StreetlP.O. Box 758[Greeley, CO 80632
tel: (970) 336-7215 X4226
Confidentiality Notice: This electronic transmission and any attached documents or other writings are intended only for the person or entity to which it is addressed and
may contain information that is privileged, confidential or otherwise protected from disclosure. If you have received this communication in error, please immediately
notify sender by return e-mail and destroy the communication. Any disclosure, copying, distribution or the taking of any action concerning the contents of this
communication or any attachments by anyone other than the named recipient is strictly prohibited.
2
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RECEIPT DATE I—`5_
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