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Home My WebLink About20253440 Mariah Higgins Subject: FW: Kiteley Ranch MD - Notice related to Exclusion of Property Attachments: 2025-12-12 45-Day Letter to BOCC re Exclusion (Kiteley Ranch MD) (For Board Consideration).docx;2025-12-12 KRMD 45-Day Notice of Exclusion Hearing (For Board Consideration).doc;2023-09-13 Kiteley Ranch MD Service Plan (For Submission to County) FINAL APPROVED.pdf From:Jennifer Ivey<jivey@isp-law.com> Sent: Monday, December 8, 2025 11:06 AM To: bbaker@weld.gov Cc:Chad M. Ellington-Urban Frontier, LLC(chad@peakdevgrp.com)<chad@peakdevgrp.com>; Karlie Ogden <kogden@isp-law.com>; Karla Ford<kford@weld.gov>; sam@peakdevgrp.com Subject: Kiteley Ranch MD-Notice related to Exclusion of Property This Message Is From an External Sender This email was sent by someone outside Weld County Government.Do not click links or open attachments unless you recognize the sender and know the content is safe. Hi Bruce, I hope this email finds you well. I wanted to give you a heads up that the attached letter and notice will be sent to the County this week as required by the Service Plan(also attached for your reference)for boundary changes. The reason for this exclusion is to get the District's boundaries in better alignment with the development/subdivision boundaries that I know Chad and his team have been processing with the County. I have copied Chad and Sam so they can chime in with any additional information and I believe they plan to reach out to the planning department to give the folks they have been working with a heads up to. The Service Plan does not require any action by the BoCC unless it wishes to object to the boundary change,which I imagine will not be the case since the goal here is to align with the other documents the County is considering. However, if you or the BoCC do have any questions or concerns please feel free to reach out to me so we can work through those items. Thank you, Jennifer Jennifer L. Ivey She/Her/Hers jivey@isp-law.com Direct: 303.867.3003 Mobile: 810.287.1978 Facsimile: 303.292.9101 4725 South Monaco Street, Suite 360 Denver, Colorado 80237 11111111 ICENOGLE SEAVER POGUE CONFIDENTIALITY NOTICE GotAKlirt; Co`-1-:onS 1 2025-3440 12/is /2 S 5D Ol29 This message and any accompanying documents are intended only for the use of the intended addressee,and may contain information that is privileged,confidential and exempt from disclosure under applicable law.If you are not the intended recipient,you are hereby notified that any dissemination,distribution or copying of this communication is prohibited.If you have received this communication in error,please notify the author immediately.Thank you. HOLIDAY CLOSURE NOTICE: Please note that our office will be closed from noon on November 26th—November 30th and from noon on December 24th —January 4th. 2 l ' ICENOGLE SEAVER POGUE December 5, 2025 VIA USPS: Weld County Board of County Commissioners 1150 O Street P.O. Box 758 Greeley, CO 80631 kford@weld.gov Re: Kiteley Ranch Metropolitan District Notice Regarding Proposed Exclusion Pursuant to Section 32-1-207(3)(b),C.R.S. Dear Board of County Commissioners: We represent the Kiteley Ranch Metropolitan District, located in Weld County, Colorado (the "District"). On December 6, 2023, the Board of County Commissioners of Weld County approved the Amended and Restated Service Plan for the District (the "Service Plan"). Section V.A.4. of the Service Plan sets forth that any exclusion not described in the Service Plan shall require a forty-five-day notice publication and written notice to the Weld County Board of County Commissioners (the "BOCC") in accordance with Section 32-1-207(3)(b), C.R.S. The District desires to exclude certain property from the District, which was not described in the Service Plan. The District is pursuing such exclusion to align the District's boundaries with the boundaries of the planned development and subdivision of property within the District. In connection therewith, enclosed please find a Notice Regarding Proposed Actions Pursuant to Section 32-1-207(3)(b). The District conditionally approved this exclusion via the Resolution and Order of the Board of Directors of Kiteley Ranch Metropolitan District Regarding Exclusion of Real Property, adopted December 4, 2025, also enclosed. Thank you in advance for your attention. Please contact our office should you require additional information. Sincerely, Jennifer L. Ivey General Counsel Kiteley Ranch Metropolitan District Enclosures cc: Board of Directors, Kiteley Ranch Metropolitan District Karlie R. Ogden Jennifer L.Ivey I JIvey@isp-law.com I Direct 303.867.3003 4725 S.Monaco St.,Suite 360 I Denver,CO 80237 I 303.292.9100 I fax 303.292.9101 I www.isp-law.com 1 Page of Document Included in Paper File Remainder Retained Electronically NOTICE OF INTENT TO UNDERTAKE CERTAIN ACTIONS BY THE KITELEY RANCH METROPOLITAN DISTRICT WELD COUNTY, COLORADO NOTICE IS HEREBY GIVEN that pursuant to the Amended and Restated Service Plan for Kiteley Ranch Metropolitan District, approved December 6, 2023 (the "Service Plan") and Section 32-1-207(3)(b), C.R.S.,the Kiteley Ranch Metropolitan District, Weld County, Colorado (the "District"), intends to exclude certain property from the boundaries of the District, pursuant to a resolution and order adopted by the Board of Directors of the District (the "Board") at a special meeting on December 4, 2025. The District intends to exclude such property to align the District's boundaries with the boundaries of the planned development and subdivision of property within the District. Pursuant to Colorado law, any action to enjoin such activity as a material departure from the Service Plan must be commenced within forty-five (45) days from the date of publication of this notice. The general description of the property intended for exclusion is as follows: PETITIONER: ANADARKO E& P ONSHORE LLC ADDRESS: 1099 18th Street, Suite 700 Denver, Colorado 80202 PROPERTY DESCRIPTION: TWO PARCELS OF LAND BEING A PORTION OF LOT B AND A PORTION OF THE ROW AS SHOWN ON THE RECORDED EXEMPTION NO.: 1207-27-2-RE 843, RECORDED AT RECEPTION NO. 02052248, WELD COUNTY RECORDS, SITUATED IN THE NORTHWEST QUARTER OF SECTION 27, TOWNSHIP 3 NORTH, RANGE 68 WEST OF THE 6TH PRINCIPAL MERIDIAN, COUNTY OF WELD, STATE OF COLORADO. A full and complete legal description of the properties intended for exclusion is on file at the offices of Icenogle Seaver Pogue, P.C., 4725 S. Monaco Street, Suite 360, Denver, Colorado 80237, and is available for public inspection during regular business hours 8:00 A.M. to 5:00 P.M. KITELEY RANCH METROPOLITAN DISTRICT By: ICENOGLE SEAVER POGUE A Professional Corporation General Counsel to the District Publish In: Greeley Tribune Publish On: Friday, December 12, 2025 AMENDED AND RESTATED SERVICE PLAN FOR KITELEY RANCH METROPOLITAN DISTRICT WELD COUNTY, COLORADO Prepared by: ICENOGLE SEAVER POGUE,P.C. 4725 South Monaco Street, Suite 360 Denver, Colorado 80237 Telephone: (303)292-9100 Email:jivey@isp-law.com September 13, 2023 Approved: December 6, 2023 1 I. INTRODUCTION A. Purpose and Intent. On August 30, 2006, the Board of County Commissioners for the County of Weld (the County") approved the Service Plan ("Original Service Plan") for the Kiteley Ranch Metropolitan District (the "District"). The District was organized pursuant to an Order and Decree dated December 8, 2006. This Amended and Restated Service Plan ("Amended Service Plan") is intended to modify,replace, restate and supersede the Original Service Plan in its entirety. 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 Amended Service Plan, its activities are subject to review by the County only insofar as they may deviate in a material matter from the requirements of this Amended 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. The District is not being created to provide ongoing operations and maintenance services other than as specifically set forth in this Amended Service Plan. This Amended Service Plan has been prepared in accordance with Article XIV of Chapter 2 of the County Code. B. Need for the District. There are 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. C. County Approval of District's Amended Service Plan. The County's approval of the Amended Service Plan for the District authorizes 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 2 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 and other legally available revenues. 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 Amended Service Plan establishes a limited purpose for the District and explicit financial constraints that are 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 are allowed,but only as specifically addressed in this Amended Service Plan. 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. The County will not be providing or paying for the Public Improvements. The County will not be providing or paying for ongoing operations and maintenance of all or any part of the Public Improvements unless accepted by the County for operations and maintenance. It is the intent of the District to dissolve upon payment or defeasance of all Debt incurred or upon a court determination that adequate provision has been made for the payment of all Debt unless the District has authorized operating and maintaining functions under this Amended Service Plan in which case it will not dissolve and will continue 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 and other legally available revenues. It is the intent of this Amended 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. 3 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 Amended 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. Amended Service Plan means this service plan for the District approved by the BOCC. 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. Debt means general obligation bonds or other obligations for the payment of general obligation debt for which the District has promised to impose an ad valorem property tax mill levy. For the avoidance of doubt, "Debt" as used herein shall not include SID Assessment Bonds or Water Enterprise Obligations, each as further defined herein. 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 Kiteley Ranch Metropolitan District. End User means any owner, or tenant of any owner, of any taxable improvement within the District who is intended to become burdened by the imposition of ad valorem property taxes subject to the Maximum Debt Mill Levy. By way of illustration,a resident homeowner, 4 renter, commercial property owner, or commercial tenant is an End User. The business entity that constructs homes or commercial structures is not an End User. External Financial Advisor means a consultant that: (1) 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 has been prepared by an External Financial Advisor in accordance with the requirements of the County Code and describes: (a)how the Public Improvements are 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 Area Boundary Map, if any. Inclusion Area Boundary Map means the map attached hereto as Exhibit C-2, describing the property proposed for inclusion within the District (if any) in the future. District Boundaries means the boundaries of the area described in the District Boundary Map. District Boundary Map means the map attached hereto as Exhibit C-1, describing the District's 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.0 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. 5 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 Kiteley Ranch. Public Improvements means a part or all of the improvements authorized to be planned, designed, acquired, constructed, 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 Area means the property within the District Boundary Map and the Inclusion Area Boundary Map. Service Plan Amendment means a subsequent amendment to the Amended 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. Water Activities means, but is not limited to, the diversion, storage, carriage, delivery, distribution, collection, treatment, use, reuse, augmentation, exchange, or discharge of water and includes the provision of wholesale or retail water or wastewater or storm water services and the acquisition of water or water rights, as defined in the Water Activities Act. Water Activities Act means Section 37-45.1-101 et seq., C.R.S., as amended from time to time. III. BOUNDARIES The area of the District Boundaries includes approximately 131.878 acres, and the total area proposed to be included in the Inclusion Area Boundaries is approximately zero (0) acres. A legal description of the District Boundaries and the Inclusion Area Boundaries is attached hereto 6 as Exhibit A. A map of the District Boundaries is attached hereto as Exhibit C-1, and a map of the Inclusion Area Boundaries is attached hereto as Exhibit C-2. 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. IV. PROPOSED LAND USE AND ASSESSED VALUATION The Service Area consists of approximately 131.878 acres of land. The current assessed valuation of the Service Area is assumed to be$6,700,400 for purposes of this Amended Service Plan and, at build-out, is expected to be sufficient to reasonably discharge the Debt as demonstrated in the Financial Plan. Approval of this Amended 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 Amended Service Plan or any of the exhibits attached thereto, unless the same is contained within an Approved Development Plan. 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 are described in the Special District Act,the Water Activities Act, and other applicable statutes (including but not limited to the SID Statutes),common law and the State Constitution,subject to the limitations set forth herein. If, after the Amended 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, the SID Statutes, or the Water Activities 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 7 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 Amended Service Plan and shall be resolved in accordance with Section 32-1-207(2), C.R.S. 1. Operations and maintenance limitation. The purpose of the District is to plan for, design, acquire, construct, install, operate, maintain,relocate,redevelop and finance the Public Improvements. The District shall dedicate the Public Improvements to an 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 be authorized to operate and maintain any part or all of the Public Improvements that are not otherwise dedicated to the an appropriate jurisdiction or owners' association. 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 are [I am] an External Financial Advisor within the meaning of the District's Amended Service Plan. We [I] certify that(1)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 [me] and based upon our[my] analysis of comparable high yield securities; and (2) the structure of[insert the 8 designation of the Debt], 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 Area without the prior written consent of the BOCC. Inclusions or exclusions not described in this Amended 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 Amended Service Plan and shall be resolved in accordance with Section 32-1-207(2), C.R.S. 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. 6. Total debt issuance limitation. The District shall not issue Debt in excess of Thirty Million Dollars ($30,000,000). To the extent the District seeks to modify the Total Debt Issuance Limitation, it shall proceed in accordance with Subsection 2-14-20. I 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. This Section shall not apply to specific ownership taxes which shall be distributed to and a revenue source for the District without any limitation. 8. 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 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 Amended Service Plan and shall be resolved in accordance with Section 32-1-207(2), C.R.S. 10. Service Plan amendment requirement. This Amended Service Plan is general in nature and does not include specific detail in some instances because development plans have not been finalized. The Amended 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 are subject to review by the County only insofar as they may deviate in a material manner from the requirements of the Amended Service Plan. Any action of the District which: (1) violates the limitations set forth in Paragraphs V.A.1-9 above; or (2) violates the limitations set forth in Subsections VI.B—H below, shall be deemed to be a material modification to this Amended Service Plan, unless otherwise agreed by the County as provided for in Section X of this Amended Service Plan. 10 11. Subdistricts. The District shall have the authority pursuant to Section 32- 1-1101(1)(f)(I), C.R.S. and Section 32-1-101(1.5)(a) through (1.5)(e), C.R.S., to divide the District into one or more areas consistent with the services, programs and facilities to be furnished therein. The exercise of such authority shall not be deemed a material modification of this Amended Service Plan. 12. Special Improvement Districts. In accordance with the requirements of Section 32-1-1101.7, C.R.S., and pursuant to the authority granted by and procedures set forth in Parts 5 and 11 of Article 25 of Title 31, C.R.S. (collectively,the"SID Statutes"),the District shall have the authority to establish and organize a special improvement district within the boundaries of the District to finance Public Improvements authorized under this Amended Service Plan ("Special Improvement District"). In accordance with the SID Statutes, the Special Improvement District may levy special assessments on property specially benefitted by such improvements ("Assessments") and upon organization, the Special Improvement District may issue debt secured and to be repaid by such Assessments ("SID Assessment Bonds"), provided, however such Assessments shall be due and payable prior to ownership or occupation of the property by the End User. 13. Water Activities. In accordance with the Water Activities Act, and other applicable statutes, common law and the State Constitution, the District shall have the authority to establish a water activity enterprise for the purpose of pursuing and continuing water activities, including water acquisition or water project or facility activities. In accordance with the Water Activities Act, a water activity enterprise created by the District may issue revenue bonds payable from the revenues derived from the facilities of the enterprise and may contract with the Colorado water conservation board or any other governmental source of funding for loans and grands relating to water activity enterprise functions (together, "Water Enterprise Obligations"). B. Primary Infrastructure Plan. The District shall have authority to provide for the planning, design, acquisition, construction, installation, relocation, redevelopment, operation, maintenance and financing 11 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: (1) 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 Code, 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 Amended 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, operated, maintained or financed by the District is approximately $29,583,701. 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 are subject to modification as engineering,development plans,economics, the County's requirements and construction scheduling may require. Upon approval of this Amended 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. VI. FINANCIAL PLAN A. General. 12 The District shall be authorized to provide for the planning, design, acquisition, construction, installation, operation, maintenance, relocation and/or redevelopment of the Public Improvements from its revenues and by and through the proceeds of Debt and/or SID Assessment Bonds to be issued by the District and to establish a water activity enterprise for the purpose of pursuing and continuing water activities by and through the proceeds of the issuance of Water Enterprise Obligations. The Financial Plan for the District shall be to issue (i) 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,(ii) SID Assessment Bonds, (iii)Water Enterprise Obligations,or(iv)any combination thereof 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 District and phased to serve development as it occurs.All 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. Any SID Assessment Bonds issued by the District may be payable from special assessments assessed in accordance with the SID Statutes. Any Water Enterprise Obligations entered into by a water activity enterprise created by the District shall be payable from revenues derived from the facilities of the enterprise. The District may also rely upon various other revenue sources authorized by law. These may 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 Piper Sandler & Co., attached hereto as Exhibit F. The Financial Plan attached to this Amended Service Plan satisfies the requirements of Subsection 2-14-20. I 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 Amended Service Plan, state law and federal law as then applicable to the issuance of public securities. 13 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 1, 2006, there are changes with respect to the assessment of property for taxation purposes, in the method of calculating assessed valuation or any constitutionally mandated tax credit, cut or abatement or any similar changes, 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 on or after January 1, 2006, are 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 and any constitutional or legislative changes in the actual value against which the assessment rate is applied 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 and Maximum Maturity. The District shall not impose a debt mill 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 forty (40) years after the year of the initial imposition of such mill levy to such property unless a majority of the Board are 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 issue its initial Debt within a period of fifteen (15) years from the date of the District's first debt authorization election following approval of this Amended Service Plan. The District may issue additional Debt after the fifteen-year period in order to provide the services outlined in this Amended Service Plan if development phasing is of a duration that makes it impracticable to issue all debt within the fifteen-year period. The maximum maturity of the Debt, when issued, will not exceed thirty (30) years from the calendar year of issuance. 14 E. Debt Repayment Sources. The District may 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, to the extent operations and maintenance functions are specifically addressed in this Amended 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, the SID Statutes, the Water Activities Act, and other applicable statutes, common law, and the State Constitution. 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 Amended Service Plan. Approval of this Amended 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 Amended 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. H. District's Operating Costs. The estimated cost of acquiring land, engineering services, legal services and administrative services, together with the estimated costs of the District's organization and initial operations,were anticipated to be$50,000.00 in the Service Plan,which will be eligible for reimbursement from Debt proceeds. 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 following approval of this 15 Amended Service Plan is estimated to be $75,000, which is anticipated to be derived from property taxes and other revenues. 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 1,2006,there are changes with respect to the assessment of property for taxation purposes, in the method of calculating assessed valuation or any constitutionally mandated tax credit,cut or abatement or any similar changes, 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 on or after January 1, 2006, are 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 and any constitutional or legislative changes in the actual value against which the assessment rate is applied 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 levy may not exceed the Maximum Debt Mill Levy. I. Elections. The District has conducted 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 was conducted as provided in the Uniform Election Code of 1992,the Municipal Election Code and TABOR. The District intends to hold a TABOR election to authorize debt at the next available TABOR election following the approval of this Amended Service Plan, the proposed ballot questions for such TABOR election are attached here to as Exhibit G, and do not require further submission to the County. At least thirty (30) days prior to any other District's TABOR election to authorize debt,the proposed ballot questions shall be 16 submitted to the County for review to ensure that said ballot questions are in compliance with this Amended Service Plan. VII. ANNUAL REPORT AND TRANSPARENCY A. Annual Report The District shall be responsible for submitting an annual report with the County Clerk in compliance with the requirements of Section 32-1-207(3)(c), C.R.S., as amended from time to time. B. Website. The District shall establish, maintain and annually update a public website or provide information on a shared community website,on which the District will,at a minimum,timely post all information and documents required by Section 32-1-104.5,C.R.S. as amended from time to time. C. Transparency Notices. The District shall provide annual notice to all eligible electors of the District, in accordance with Section 32-1-809, C.R.S., as amended from time to time. In addition, the District shall record a District public disclosure document and a map of the District boundaries with the Clerk and Recorder of each County in which District property is located, in accordance with Section 32-1-104.8, C.R.S. as amended from time to time. D. Purchaser Disclosures. The District will use reasonable efforts to assure that all developers of the property located within the District provide written notice to all purchasers of property in the District in compliance with Section 38-35.7-100, C.R.S. as amended from time to time. 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. 17 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 Amended 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 All intergovernmental agreements must be for facilities, services and agreements lawfully authorized to be provided by the District, pursuant to the State Constitution, Article XIV, Section 18(2)(a), and Sections 29-1-201 et seq., C.R.S. To the extent practicable, the District may enter into agreements to better ensure long-term provision of the Public Improvements identified herein. Agreements may also be executed with property owner associations and other service providers. Any agreements which are required, or known at the time of this Amended Service Plan to likely be required, to fulfill the purposes of the District, must be described in this Amended Service Plan, along with supporting rationale. The District anticipates that it may enter into one or more intergovernmental agreements with neighboring special districts or other governmental entities related to cost sharing of regional improvements and such agreements may be entered into without additional notice to the County. Execution of intergovernmental or extraterritorial agreements by the District that are not described in this Amended 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 Amended Service Plan and shall be resolved only in accordance with Section 32-1207(2), C.R.S. X. MATERIAL MODIFICATIONS 18 Material modifications to this Amended Service Plan may be made only in accordance with Section 32-1-207, C.R.S. All modifications to the written provisions of this Amended 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 Amended 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 Amended 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 Amended Service Plan as provided in Section 32-1-207, C.R.S. XI. CONCLUSION It is submitted that this Amended Service Plan for the District, as required by Section 32-1- 203(2), C.R.S., and Section 32-1203(3), C.R.S., establishes that: 1. There is sufficient existing and projected need for organized service in the area to be serviced by the District; 2. The existing service in the area 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 area 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 are 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.; 19 7. The proposal is in substantial compliance the County's Master Plan adopted pursuant to Section 30-28106, 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 10. The creation of the District is in the best interests of the residents and future residents of the area proposed to be served. XII. RESOLUTION OF APPROVAL The District agrees to incorporate the BOCC's resolution of approval, including any conditions on any such approval, into the Amended Service Plan. 20 EXHIBIT A Legal Description of Initial District Boundaries 21 LEGAL DESCRIPTION: PER VESTING DEED RECORDED ON 03/01/2018 UNDER RECEPTION NO. 4378768, AS PROVIDED BY THE TITLE COMPANY: LOT B OF RECORDED EXEMPTION NO. 1208-27-2-RE 843 AS RECORDED IN BOOK 1111, FILM 1383, RECEPTION NO. 02052248, WELD COUNTY RECORDS, BEING MORE PARTICULARLY DESCRIBED AS FOLLOWS: THAT TRACT OF LAND LOCATED IN THE NORTHWEST ONE-QUARTER OF SECTION 27, TOWNSHIP 3 NORTH, RANGE 68 WEST OF THE 6TH P.M., WELD COUNTY, COLORADO BEING MORE PARTICULARLY DESCRIBED AS FOLLOWS: CONSIDERING THE WEST LINE OF THE NORTHWEST ONE-QUARTER AS ASSUMED TO BEAR NORTH 00°03'44" WEST AND WITH ALL BEARINGS CONTAINED HEREIN RELATIVE THERETO: BEGINNING AT THE WEST ONE-QUARTER COMER OF SAID SECTION 27; THENCE NORTH 00°03'44" WEST 2651 .99 FEET TO THE NORTHWEST COMER OF SAID SECTION 27; THENCE NORTH 89°48'39" EAST 2637.30 FEET TO THE NORTH ONE-QUARTER COMER OF SAID SECTION 27; THENCE ALONG THE EAST LINE OF THE NORTHWEST ONE-QUARTER OF SAID SECTION 27, SOUTH 00°42'51" WEST 1500.73 FEET; THENCE ALONG THE NORTHWESTERLY BOUNDARY OF THAT PARCEL OF LAND DESCRIBED BY DEED RECORDED IN BOOK 207 AT PAGE 395 OF WELD COUNTY RECORDS, THE FOLLOWING THREE (3) COURSES; SOUTH 51 '37'53" WEST 507.62 FEET; SOUTH 52°39'03" WEST 394.00 FEET; SOUTH 39°24'03" WEST 765.00 FEET TO A POINT ON THE SOUTH LINE OF THE NORTHWEST ONE-QUARTER OF SAID SECTION 27; THENCE SOUTH 89°24'03" WEST 1125.18 FEET TO THE SOUTHEAST COMER OF LOT A OF RECORDED EXEMPTION NO. 1208-27-2-RE 843 AS RECORDED IN BOOK 1111, FILM 1383, RECEPTION NO. 02052248, WELD COUNTY RECORDS; THENCE ALONG THE EAST, NORTH AND WEST LINE OF SAID LOT A THE FOLLOWING THREE (3) COURSES; NORTH 00°03'44" WEST 233.34 FEET; SOUTH 89°24'03" WEST 263.82 FEET; SOUTH 00°03'44" EAST 233.34 FEET TO A POINT ON THE SOUTH LINE OF THE NORTHWEST ONE-QUARTER OF SAID SECTION 27; THENCE SOUTH 89°24'03" WEST 30.00 FEET TO THE WEST ONE-QUARTER CORNER OF SAID SECTION 27 AND THE TRUE POINT OF BEGINNING. THE ABOVE DESCRIBED PARCEL CONTAINS 140.43 ACRES, MORE OR LESS, AND IS SUBJECT TO ALL EXISTING EASEMENTS AND/OR RIGHTS OF WAY OF RECORD. EXCEPTING THEREFROM: THAT PORTION OF LOT B OF RECORDED EXEMPTION NO. 1207-27-2-RE 843, SITUATE IN THE NORTHWEST QUARTER OF SECTION 27, TOWNSHIP 3 NORTH, RANGE 68 WEST OF THE 6TH P.M., WELD COUNTY, COLORADO, BEING MORE PARTICULARLY DESCRIBED AS FOLLOWS; CONSIDERING THE WEST LINE OF THE NORTHWEST QUARTER OF SAID SECTION 27 AS ASSUMED TO BEAR NORTH 00°03'44" WEST AND WITH ALL BEARINGS CONTAINED HEREIN RELATIVE THERETO; BEGINNING AT THE SOUTHWEST CORNER OF THE NORTHWEST QUARTER OF SAID SECTION 27; THENCE ALONG THE SOUTH LINE OF SAID NORTHWEST QUARTER NORTH 89°23'55" EAST 30.00 FEET TO THE SOUTHWEST CORNER OF LOT A OF RECORDED EXEMPTION NO. 1207-27-2-RE 843; THENCE CONTINUING ALONG THE SOUTH LINE OF SAID NORTHWEST QUARTER AND ALONG THE SOUTH LINE OF SAID LOT A NORTH 89°23'55" EAST 263.82 FEET TO THE SOUTHEAST CORNER OF SAID LOT A AND THE TRUE POINT OF BEGINNING; THENCE CONTINUING ALONG THE SOUTH LINE OF SAID NORTHWEST QUARTER NORTH 89°23'55" EAST 30.00 FEET; THENCE DEPARTING SAID SOUTH LINE NORTH 00°01 '39" WEST 233.46 FEET TO A POINT ON THE EASTERLY PROLONGATION OF THE NORTH LINE OF SAID LOT A; THENCE ALONG SAID EASTERLY PROLONGATION SOUTH 89°22'15" WEST 30.00 FEET TO THE NORTHEAST COMER OF SAID LOT A; THENCE ALONG THE EAST LINE OF SAID LOT A SOUTH 00°01'39" EAST 233.45 FEET TO A POINT ON THE SOUTH LINE OF SAID NORTHWEST QUARTER, SAID POINT BEING THE SOUTHEAST CORNER OF SAID LOT A AND THE TRUE POINT OF BEGINNING. THE ABOVE DESCRIBED PARCEL CONTAINS 0.16 ACRES, MORE OR LESS, AND IS SUBJECT TO ALL EXISTING EASEMENTS AND/OR RIGHTS OF WAY OF RECORD. ALSO EXCEPTING THEREFROM: THAT PORTION OF LOT B OF RECORDED EXEMPTION NO. 1207-27-2-RE 843, SITUATE IN THE NORTHWEST QUARTER OF SECTION 27, TOWNSHIP 3 NORTH, RANGE 68 WEST OF THE 6TH P.M., WELD COUNTY, COLORADO, BEING MORE PARTICULARLY DESCRIBED AS FOLLOWS; CONSIDERING THE WEST LINE OF THE NORTHWEST QUARTER OFSAID SECTION 27 AS ASSUMED TO BEAR SOUTH 00°03'44" EAST AND WITH ALL BEARINGS CONTAINED HEREIN RELATIVE THERETO; BEGINNING AT THE NORTHWEST COMER OF SAID SECTION 27; THENCE ALONG THE WEST LINE OF THE NORTHWEST QUARTER OF SAID SECTION 27 SOUTH 00°03'44" EAST 861.97 FEET TO THE TRUE POINT OF BEGINNING; THENCE CONTINUING ALONG SAID WEST LINE SOUTH 00°03'44" EAST 376.60 FEET; THENCE DEPARTING SAID WEST LINE NORTH 89°59'42" EAST 377.59 FEET; THENCE NORTH 00°03'44" WEST 190.20 FEET; THENCE NORTH 28°00'26" WEST 211.43 FEET; THENCE SOUTH 89°56'16" WEST 278.51 FEET TO A POINT ON THE WEST LINE OF THE NORTHWEST QUARTER OF SAID SECTION 27 AND THE TRUE POINT OF BEGINNING. THE RESULTING PROPERTY DESCRIPTION CONTAINS 137.22 ACRES, MORE OR LESS, AND IS SUBJECT TO ALL EXISTING EASEMENTS AND/OR RIGHTS OF WAY OF RECORD. PARCEL ALSO REFERENCED AS PARCEL NUMBER: 120727200004 *PLEASE NOTE THAT THE PREVIOUS QUITCLAIM DEED RECORDED ON 05/14/1993 UNDER RECEPTION NO. 02332937 EXCEPTS "EXISTING RIGHTS OF WAY FOR ROADS AND DITCHES"; AS WELL THE EXEMPTION PLAT MENTIONED HEREON INHERENTLY EXCEPTS RIGHTS OF WAY FOR ROAD/HIGHWAY PURPOSES. THERE IS NO EVIDENCE BASED UPON THE TITLE COMMITMENT AND SUBSEQUENT DOCUMENTS PROVIDED THAT THE RIGHTS OF WAY FOR THOSE PURPOSES HAVE BEEN VACATED. PARCEL CONTAINS APPROXIMATLEY 5,744,611 SQUARE FEET (131.878 ACRES) MORE OR LESS. EXHIBIT B Vicinity Map 22 24 IA ,3 1 i 4 +�,,��} V berry /ow-SITE . q.[ CO. 66 CO" 66 j, r,J h' -- 'G5. - CR 30 ----'71 r,'. 111 i 11 Ranch 71 F R3 3 ce Ir _ L o Ni te I�Ikili - 1)� _ CR. C unty' Road 2 ��_. I b . ME lad High rddoo U LOCATION MAP SCALE: r = 2000' EXHIBIT C-1 District Boundary Map 23 SW 1/4 SECTION 22 SE 1/4 \..../—HIGHLAND DITCH 1 SECTION 21 = SE 1/4 COLORADO STATE HIGHWAY 66 SECTION 22 ,I (PUBLIC R.O.W.-WIDTH VARIES) 1 N89°48'39"E 2637.30' NORTHWEST CORNER NORTH LINE OF THE NORTHWEST OF SECTION 27 ONE-QUARTER OF SECTION 27 HIGHLAND NORTH ONE-QUARTER DRIVE NE 1/4 rn CORNER OF SECTION 27 to (so'PUBLICR.O.W.) SECTION 28 MO co I N N O 00 3Z O O =z r Z Lo S89°56'16"W 278.51' o z H-I� 4 LC/3 c\I . z cn I� =z N28°00'26"W 212.62' w u_ in 0 N QI i w 30g @�Q�a O I-- O NE 1/4 W w o I �ppp Gd w< 0 SECTION 27 f�I f ) N00°03 44 W 189.15 J o- ` _ t w °wo i <w a Q Q oo N89°59'42"E 378.15' NW i/a W o 1 J C z 3 Z N� SECTION 27 =V 0 H- 11 V) (~nw / o 40 o ECORpEO EX A g43 NO. R a207-27 /Is S51°37'52"W o — 0 o ., 507.62' 0 i o i S52°39'03"W 0 z S89°24'03"W 263.82' ,o rj394.00' 1 W ' _ BRANDING 3 O /Z/2 0S IRON WAY 1 0 1 Cp �C�C3M (sa'PUBLIC RAW.) ,04 p N 0003 44 W 233.34 /cow '�� @ q-GS a� S89°24'03"W 1125.18' S00°03'44"E 233.34' SOUTH LINE OF THE NORTHWEST ONE-QUARTER OF SECTION 27 SE 1/4 S89°24'03"W 30.00' SW 1/4 SE 1/4 SECTION 28 —POINT OF BEGINNING SECTION 27 SECTION 27 WEST ONE-QUARTER CORNER OF SECTION 27 NOTE: THIS IS NOT A LAND SURVEY PLAT AND IS ONLY INTENDED TO GRAPHICALLY DEPICT THE LEGAL DESCRIPTION CONTAINED IN THE SERVICE PLAN FOR KITELEY RANCH METROPOLITAN DISTRICT. LGID: 65802 Exhibit DRAFTED: SLG3 CHECKED: EDC C C( • 9360 TEDDY LANE,SUITE#203 ^ I I DATE: 07/09/2020 JOB NO. CWC#120-00319 LONE TREE,COL5-2701 0124 KITELEY RANCH TELEPHONE:303-395-2700 PAGE: 1 OF 1 SCALE:1..=500' FAX 303-395-2701 METROPOLffAN DISTRICT PREPARED FOR: CWC CONSULTING GROUP NOTE: THIS EXHIBIT DOES NOT REPRESENT A MONUMTED SURVEY. IT IS CIVILENGINEERING-LAND SURVEYING CONSTRUCTION SERVICES DEPICT THE ATTACHED DESCRIPTIONDED ONLY TO PEAK DEVELOPMENT GROUP EXHIBIT C-2 Inclusion Area Boundary Map Not applicable. 24 EXHIBIT D Primary Infrastructure Plan Description of Public Improvements: Streets generally include: Curbs, gutters, culverts, storm drainage conveyance facilities, sidewalks, bridges, parking facilities,paving, lighting, grading, grading stabilization,utility relocations required for public right-of-way, monumentation, signage, pavement markings, traffic control devices, intersection control (traffic signals, roundabouts, or others deemed necessary), snow removal, streetscapes and related landscaping, irrigation improvements, together with all necessary, incidental and appurtenances facilities, equipment, land and easements and extensions of and improvements to such facilities. Cost of obtain necessary easements are not included in this projection. Water: Potable and non-potable water supply improvements, including water rights, storage facilities, transmission and distribution lines, pumping stations, fire hydrants, meters, facilities, equipment, and related landscaping and irrigation improvements, together with all necessary, incidental and appurtenant facilities, equipment, land and easements, and extensions of and improvements to such facilities. Cost of obtain necessary easements are not included in this projection. Storm and Sanitary Sewer: Storm and sanitary sewer collection and transmission improvements, including storage facilities, collection mains and laterals, pumping stations, lift stations, transmission lines, storm sewer, flood, water quality and surface drainage facilities and systems, and related landscaping and irrigation improvements, together with all necessary, incidental and appurtenant facilities, equipment, land and easements, and extensions of and improvements to such facilities. Cost of obtain necessary easements are not included in this projection. Amenities, Parks and Recreation: Public park, open space and recreation facilities or services, including parks, bike paths, pedestrian ways, public plazas and courtyards, water features, signage, monumentation, art, gardens,picnic areas, recreational facilities,playground equipment/areas,park shelters, public area landscaping and weed control, streetscaping, outdoor lighting of all types, and related landscaping and irrigation improvements, together with all necessary, incidental and appurtenant facilities, equipment, land and easements, and extensions of and improvements to such facilities. Cost of obtain necessary easements are not included in this projection. 25 Timing: Construction of infrastructure improvements and incurrence of the projected costs is anticipated to commence in 2024 and continue through 2030 or as adjusted for market conditions. Matrix of Ownership and Maintenance Item District HOA* Agency Internal Pocket Parks 0 M Neighborhood and Community Parks (Until Agency Acceptance) 0 M Recreation Amenities/Facility 0 M Roadway Landscape and Tracts 0 M Open Space 0 M Detention Ponds 0 M Internal(Non County Accepted)Storm Drains 0 M Non Potable Infrastructure OM Public Roadways 0 M Public Water, Non Potable Water,Sanitary OM Sewer,Storm Drainage Traffic Signals OM Lighting and Signage 0 M Agency can be Sewer and/or Water Districts, or an appropriate jurisdiction. 0=Ownership M=Maintenance OM=Ownership and Maintenance *If HOA is not incorporated then the District will take the responsibilities show 26 KITELEY RANCH - METROPOLITAN DISTRICT COST PROJECTION April 30, 2023 PROJECT TOTAL $ 29,583,701 SUBTOTALS COST ®' COMMENTS Offsite Water $ 4,901,105 2024 WCR 7 $ 1,674,109 2024 Phase 1 $ 16,222,320 2024 Phase 2 $ 6,786,168 2027 Misc KITELEY RANCH - METROPOLITAN DISTRICT COST PROJECTION April 30, 2023 PROJECT TOTAL $ 4,901,105 COST PER LOT/PER FOOT 0 #DIV/0! $344.66 CENTERLINE WATERLINE-24" 1800 CENTERLINE WATERLINE-16" 4500 CENTERLINE WATERLINE-12" 7920 FEES QTY COST COMMENTS IMPACT FEES 1 $ 53,986.39 Reimbursement from Letter SUBTOTAL $ 53,986 PROFESSIONAL SERVICES QTY COST COMMENTS AGENCY REVIEW FEES 1 $ 17,500.00 0.50% ENGINEERING 1 $ 175,000.00 5.00% STAKING 1 $ 70,000.00 2.00% SOILS AND ENVIRONMENTAL TESTING 1 $ 87,500.00 2.50% RECORD DRAWINGS/CLOSE OUT 1 $ 35,000.00 1.00% SUBTOTAL $ 385,000 EROSION CONTROL QTY COST COMMENTS EROSION CONTROL 14220 $ 213,300.00 SUBTOTAL $ 213,300 WATER IMPROVEMENTS QTY COST COMMENTS 12" PVC C-200 w/Bedding & 12ga Tracer wire 7920 $ 514,800.00 16" PVC w/Bedding & 12ga Tracer wire 4500 $ 427,500.00 24" PVC w/Bedding & 12ga Tracer wire 1800 $ 441,000.00 12" MJ Gate Valve W/Box& Restraints 11 $ 58,905.00 750 16"BFV Valve W/Box& Restraints 6 $ 149,176.36 750 24" BFV Valve W/Box& Restraints 2 $ 60,186.43 750 Vaults for BFV 8 $ 252,783.00 Fire Hydrants 7 $ 71,384.40 2,000 12" Fittings 11 $ 18,014.99 750 16" Fittings 6 $ 12,854.10 750 24" Fittings 3 $ 16,323.42 750 Remove Plug &Tie in 3 $ 11,025.00 Tie in after testing 0 $ - CI,Clear Water& Pressure Test 14220 $ 35,550.00 MARKER POSTS 28 $ 6,271.02 500 SPECIAL 250 $ 325,000.00 BORES SUBTOTAL $ 2,400,774 ASPHALT PAVING IMPROVEMENTS (INTERNAL) QTY COST COMMENTS PAVING (9"-Assumed Full Depth Asphalt) 9480 $ 443,664.00 6.00 PAVING-SUBGRADE PREPARATION 9480 $ 42,702.66 PAVEMENT MARKINGS 14220 $ 16,424.10 1.0 SIGNAGE 8 $ 4,494.00 2,000 TRAFFIC CONTROL 1 $ 130,000.00 RAISE WATER VALVES 11 $ 4,735.50 RAISE MANHOLES 8 $ 9,702.00 RAISE RANGEBOXES 0 $ - SUBTOTAL $ 651,722 ADDITIONAL COSTS QTY COST COMMENTS LETTERS OF CREDIT/BONDS 0.5% $ 15,262 WARRANTY 3.0% $ 91,575 MOBILIZATION 5.0% $ 163,290 CONTINGENCY 25.0% $ 926,196 $ - _ SUBTOTAL $ 1,196,323 COST PARTICIPATION QTY COST COMMENTS REIMBURSEMENT 0 $ - SUBTOTAL $ - PROJECT TOTA $ 4,901,105 KITELEY RANCH - METROPOLITAN DISTRICT COST PROJECTION April 30, 2023 PROJECT TOTAL' $ 1,674,109 WCR 7 2000 PROFESSIONAL SERVICES QTY COST 5% AGENCY REVIEW FEES 1 $ 3,000.00 0.50% PLANNING _ 1 $ 12,000.00 2.00% ENGINEERING 1 $ 15,000.00 2.50% LANDSCAPE ARCHITECTURE 1 $ 6,000.00 1.00% STAKING 1 $ 18,000.00 3.00% SOILS AND ENVIRONMENTAL TESTING 1 $ 18,000.00 3.00% RECORD DRAWINGS/CLOSE OUT 1 $ 6,000.00 1.00% SUBTOTAL $ 78,000 GRADING QTY COST COMMENTS TOPSOIL 333 $ 900.00 10% OVERLOT GRADING 3333 $ 9,500.00 3 SUBTOTAL $ 10,400 EROSION CONTROL QTY COST COMMENTS EROSION CONTROL 2000 $ 80,000.00 2.00 SUBTOTAL $ 80,000 STORM DRAINAGE IMPROVEMENTS QTY COST COMMENTS 18" RCP CL III TG/C-443 0-8'w/squeegee 500 $ 50,000.00 25% EXTRA DEPTH 8'-10' 50 $ 185.94 10% EXTRA DEPTH 10'-12' 25 $ 245.01 5% 4' Diameter MH (0-8)w/24" Cover 2 $ 11,550.00 350 5'Type'R' Inlet Up to 5' Deep 2 $ 19,240.00 10'Type'R' Inlet Up to 5' Deep 2 $ 24,000.00 OUTLET STRUCTURE 1 $ 35,000.00 SWM SUBTOTAL $ 140,221 ASPHALT PAVING IMPROVEMENTS (INTERNAL) QTY COST COMMENTS ROAD BASE 8" 3111 $ 41,066.67 PAVING (9"-Assumed Full Depth Asphalt ) 3111 $ 145,600.00 14.00 PAVING-SUBGRADE PREPARATION 3111 $ 14,014.00 SUBEXCAVATION 3111 $ 10,616.67 3.0 PAVING 2 444 $ 7,350.00 2" Mill/Overlay PAVEMENT MARKINGS 8000 $ 9,240.00 4.0 SIGNAGE 4 $ 1,500.00 500 TRAFFIC CONTROL 1 $ 35,000.00 SLEEVES 900 $ 27,000.00 3 RAISE MANHOLES 2 $ 2,310.00 SUBTOTAL $ 293,697 CONCRETE IMPROVEMENTS(INTERNAL) QTY COST COMMENTS CURB&GUTTER-2'GUTTER 2000 $ 52,813.49 1 CURB AND GUTTER SUB GRADE PREPARATION 2000 $ 6,468.00 HANDICAP RAMPS (CORNER) 4 $ 18,480.00 SUBTOTAL $ 77,761 ADDITIONAL COSTS 0 COST COMMENTS LETTERS OF CREDIT/BONDS 0.5% $ 2,558 WARRANTY 3.0% $ 15,350 builder responsibility MOBILIZATION 5.0% $ 30,104 CONTINGENCY 20.0% $ 271,016 $ - SUBTOTAL $ 319,029 COST PARTICIPATION QTY COST COMMENTS REIMBURSEMENT 0 $ - SUBTOTAL $ - PROJECT TOTAL $ 1,674,10 KITELEY RANCH - METROPOLITAN DISTRICT COST PROJECTION April 30, 2023 PROJECT TOTAL. $ 16,222,320 CENTERLINE COLLECTORS 1379 CENTERLINE LOCALS 8377 PROFESSIONAL SERVICES QTY COST 5% AGENCY REVIEW FEES 208 $ 52,000.00 PLANNING 208 $ 121,680.00 2.0% ENGINEERING 208 $ 405,600.00 2.5% LANDSCAPE ARCHITECTURE 208 $ 121,680.00 1.0% STAKING 208 $ 222,560.00 SOILS AND ENVIRONMENTAL TESTING 208 $ 182,000.00 RECORD DRAWINGS/CLOSE OUT 208 $ 60,320.00 SUBTOTAL $ 1,165,840 GRADING _ QTY COST COMMENTS TOPSOIL _ 4160 $ 11,232.00 10% OVERLOT GRADING 41600 $ 118,560.00 200 SUBTOTAL $ 129,792 EROSION CONTROL QTY COST COMMENTS EROSION CONTROL 208 $ 312,000.00 SUBTOTAL, $ 312,000 DEMOLITION QTY COST COMMENTS DEMOLITION, CLEAR, GRUB 1 $ 110,000.00 SUBTOTAL_ $ 110,000 UTILITY CHARGES _ QTY COST COMMENTS ELECTRIC DISTRIBUTION 208 $ 208,000.00 Street Lighting STREET LIGHTS 25 $ 312,500.00 400 SUBTOTAL $ 520,500 SANITARY SEWER IMPROVEMENTS _ QTY COST COMMENTS 4" SDR UD 8940 $ 253,449.00 PIPE 8" PVC W/BEDDING 8940 $ 750,960.00 EXTRA DEPTH 10'-12' 1788 $ 5,215.14 20% EXTRA DEPTH 12'- 14' 894 $ 8,213.85 10% EXTRA DEPTH 14'- 16' 447 $ 7,170.82 5% EXTRA DEPTH 16'- 18' 447 $ 16,199.54 5% 8"X 4"WYE, BEND, CAP 208 $ - M.H. -4' DIA(0-10') 30 $ 179,550.00 300 M.H. - EXTRA DEPTH 150 $ 27,562.50 5 6" CLEANOUT ASSEMBLY 30 $ 40,950.00 4" PVC SERVICE (40'AVG) 208 $ - AIR TEST MAIN 8940 $ 7,698.54 DEFLECTION TEST MAIN 8940 $ 9,933.61 JETT SEWER MAINLINE 8940 $ 9,312.75 TV SEWER LINE 8940 $ 10,554.46 SUBTOTAL $ 1,326,770 STORM DRAINAGE IMPROVEMENTS QTY COST COMMENTS 18" RCP CL III TG/C-443 0-8'w/squeegee 1951 $ 195,120.00 20% 24" RCP CL III TG/C-443 0-8'w/squeegee 1951 $ 241,948.80 20% 30" RCP CL III TG/C-443 0-8'w/squeegee 976 $ 152,193.60 10% 36" RCP CL III TG/C-443 0-8'w/squeegee 780 $ 151,413.12 8% 42" RCP CL III TG/C-443 0-8'w/squeegee 488 $ 123,413.40 5% 48" RCP CL III TG/C-443 0-8'w/squeegee 195 $ 55,609.20 2% EXTRA DEPTH 8'-10' 634 $ 2,358.27 10% EXTRA DEPTH 10'-12' 317 $ 3,107.37 5% 4' Diameter MH (0-8)w/24" Cover 12 $ 69,300.00 350 5' Diameter MH (0-8)w/24" Cover 7 $ 47,775.00 350 6' MH (0-8'depth) &24" Cover 1 $ 9,003.75 200 5'Type'R' Inlet Up to 5' Deep 12 $ 115,440.00 10'Type'R' Inlet Up to 5' Deep 10 $ 120,000.00 15'Type'R' Inlet Up to 5' Deep 8 $ 128,800.00 20'Type'R' Inlet Up to 5'Deep 6 $ 126,000.00 OUTLET STRUCTURE 1 $ 65,000.00 SUBTOTAL $ 1,606,483 WATER IMPROVEMENTS QTY COST COMMENTS 8" PVC C-200 w/Bedding & 12ga Tracer wire 7317 $ 591,579.45 75% 12" PVC C-200 w/Bedding & 12ga Tracer wire 2439 $ 320,118.75 25% 8" MJ Gate Valve W/Box& Restraints 10 $ 30,975.00 750 12" MJ Gate Valve W/Box& Restraints 4 $ 21,420.00 750 Fire Hydrants 16 $ 163,250.40 600 8" Fittings 10 $ 8,529.82 750 12" Fittings 4 $ 6,550.90 750 Tie in after testing 2 $ 2,600.00 CI,Clear Water& Pressure Test 0.0 $ - MARKER POSTS 1 $ 220.50 100 WATER SERVICE 208 $ - SPECIAL 2 $ 15,000.00 connections SUBTOTAL $ 1,160,245 ASPHALT PAVING IMPROVEMENTS (INTERNAL) QTY COST COMMENTS ROAD BASE 8" 32826 $ 433,309.07 PAVING (5"-Assumed Full Depth Asphalt ) 27923 $ 726,006.67 30.00 PAVING (9"-Assumed Full Depth Asphalt ) 4903 $ 229,465.60 32.00 PAVING-SUBGRADE PREPARATION 32826 $ 147,866.72 SUBEXCAVATION 32826 $ 112,020.24 3.0 PAVEMENT MARKINGS 39024 $ 45,072.72 4.0 SIGNAGE 20 $ 7,500.00 500 TRAFFIC CONTROL 1 $ 15,000.00 SLEEVES 900 $ 27,000.00 3 RAISE WATER VALVES 44 $ 18,942.00 RAISE MANHOLES 50 $ 57,726.90 SUBTOTAL $ 1,819,910 CONCRETE IMPROVEMENTS(INTERNAL) QTY COST COMMENTS CURB&GUTTER- 1'GUTTER 2758 $ 75,280.80 2.00 CURB&GUTTER-2'GUTTER 19512 $ 515,248.39 2 CURB AND GUTTER SUB GRADE PREPARATION 22270 $ 72,021.18 CROSS PANS 1600 $ 21,472.00 4 HANDICAP RAMPS (CORNER) 24 $ 110,880.00 MIDBLOCK HANDICAP RAMPS 8 $ 19,320.00 6' SIDEWALK-6" 100524 $ 643,856.22 2 8'TRAIL-6" 2758 $ 17,520.20 2 SIDEWALK SUB GRADE PREP 103282 $ 279,790.94 SUBTOTAL $ 1,755,390 LANDSCAPING IMPROVEMENTS QTY COST COMMENTS OPEN SPACE 431000 $ 1,697,062.50 FORMAL-STREETS 16548 $ 172,885.23 12 FORMAL- PARKS 46000 $ 480,585.00 MONUMENTS 2 $ 73,500.00 FENCING 5000 $ 88,868.85 MAIL BOXES 5 $ 10,400.00 40 AMENITY 1 $ 325,000.00 SUBTOTAL $ 2,848,302 ADDITIONAL COSTS _ 0 COST COMMENTS LETTERS OF CREDIT/BONDS _ 0.5% $ 52,585 WARRANTY 3.0% $ 315,513 builder responsibility MOBILIZATION 5.0% $ 547,945 CONTINGENCY 20.0% $ 2,551,046 $ - SUBTOTAL $ 3,467,089 COST PARTICIPATION QTY COST COMMENTS REIMBURSEMENT 0 $ - SUBTOTAL $ - PROJECT TOTAL, $ 16,222,32C KITELEY RANCH - METROPOLITAN DISTRICT COST PROJECTION April 30, 2023 PROJECT TOTAL $ 6,786,168 CENTERLINE ARTERIALS 0 CENTERLINE COLLECTORS 185 CENTERLINE LOCAI_,S 4670 PROFESSIONAL SERVICES QTY COST 5% AGENCY REVIEW FEES 71 $ 17,750.00 PLANNING 71 $ 41,535.00 2.0% ENGINEERING 71 $ 138,450.00 2.5% LANDSCAPE ARCHITECTURE 71 $ 41,535.00 1.0% STAKING 71 $ 75,970.00 SOILS AND ENVIRONMENTAL TESTING 71 $ 62,125.00 RECORD DRAWINGS/CLOSE OUT 71 $ 20,590.00 SUBTOTAL $ 397,955 GRADING QTY COST COMMENTS TOPSOIL 1420 $ 3,834.00 10% OVERLOT GRADING 14200 $ 40,470.00 200 SUBTOTAL $ 44,304 EROSION CONTROL QTY COST COMMENTS EROSION CONTROL 71 $ 106,500.00 SUBTOTAL $ 106,500 DEMOLITION QTY COST COMMENTS DEMOLITION, CLEAR, GRUB 1 $ 35,000.00 SUBTOTAL $ 35,000 UTILITY CHARGES QTY COST COMMENTS ELECTRIC DISTRIBUTION 71 $ 71,000.00 Street Lighting STREET LIGHTS 13 $ 162,500.00 400 SUBTOTAL $ 233,500 SANITARY SEWER IMPROVEMENTS QTY COST COMMENTS 4" SDR UD 4670 $ 132,394.50 PIPE 8" PVC W/BEDDING 4670 $ 392,280.00 EXTRA DEPTH 10'-12' 934 $ 2,724.24 20% EXTRA DEPTH 12'- 14' 467 $ 4,290.68 10% EXTRA DEPTH 14'- 16' 234 $ 3,745.83 5% EXTRA DEPTH 16'- 18' 234 $ 8,462.17 5% 8"X 4"WYE, BEND, CAP 71 $ - M.H. -4' DIA(0-10') 16 $ 95,760.00 300 M.H. - EXTRA DEPTH 80 $ 14,700.00 5 6" CLEANOUT ASSEMBLY 16 $ 21,840.00 4" PVC SERVICE (40'AVG) 71 $ - AIR TEST MAIN 4670 $ 4,021.50 DEFLECTION TEST MAIN 4670 $ 5,189.03 JETT SEWER MAINLINE 4670 $ 4,864.72 TV SEWER LINE 4670 $ 5,513.35 SPECIAL 0.00 $ - connection SUBTOTAL $ 695,786 STORM DRAINAGE IMPROVEMENTS QTY COST COMMENTS 18" RCP CL III TG/C-443 0-8'w/squeegee 486 $ 48,550.00 10% 24" RCP CL III TG/C-443 0-8'w/squeegee 486 $ 60,202.00 10% 30" RCP CL III TG/C-443 0-8'w/squeegee 243 $ 37,869.00 5% 36" RCP CL III TG/C-443 0-8'w/squeegee 243 $ 47,093.50 5% EXTRA DEPTH 8'-10' 146 $ 541.65 10% EXTRA DEPTH 10'-12' 73 $ 713.70 5% 4' Diameter MH (0-8)w/24" Cover 3 $ 17,325.00 350 5' Diameter MH (0-8)w/24" Cover 2 $ 13,650.00 350 5'Type'R' Inlet Up to 5' Deep 2 $ 19,240.00 10'Type'R' Inlet Up to 5' Deep 2 $ 24,000.00 OUTLET STRUCTURE 1 $ 65,000.00 SUBTOTAL $ 334,185 WATER IMPROVEMENTS QTY COST COMMENTS 8" PVC C-200 w/Bedding & 12ga Tracer wire 3641 $ 294,395.06 75% 12" PVC C-200 w/Bedding & 12ga Tracer wire 1214 $ 159,304.69 25% 8" MJ Gate Valve W/Box& Restraints 5 $ 15,487.50 750 12" MJ Gate Valve W/Box& Restraints 2 $ 10,710.00 750 Fire Hydrants 8 $ 81,240.33 600 8" Fittings 5 $ 4,264.91 750 10" Fittings 0 $ - 750 12" Fittings 2 $ 3,275.45 750 Tie in after testing 2 $ 2,600.00 MARKER POSTS 1 $ 220.50 100 WATER SERVICE 71 $ - SPECIAL 2 $ 15,000.00 connections SUBTOTAL $ 586,498 ASPHALT PAVING IMPROVEMENTS (INTERNAL) QTY COST COMMENTS ROAD BASE 8" 16224 $ 214,162.67 PAVING (5"-Assumed Full Depth Asphalt ) 15567 $ 404,733.33 30.00 PAVING (9"-Assumed Full Depth Asphalt ) 658 $ 30,784.00 32.00 PAVING-SUBGRADE PREPARATION 16224 $ 73,083.01 SUBEXCAVATION 16224 $ 55,365.92 3.0 PAVEMENT MARKINGS 19420 $ 22,430.10 4.0 SIGNAGE 10 $ 3,750.00 500 TRAFFIC CONTROL 1 $ 7,500.00 SLEEVES 900 $ 27,000.00 3 RAISE WATER VALVES 23 $ 9,901.50 RAISE MANHOLES 21 $ 24,255.00 RAISE RANGEBOXES 0 $ - SUBTOTAL $ 872,966 CONCRETE IMPROVEMENTS(INTERNAL) QTY COST COMMENTS CURB&GUTTER- 1'GUTTER 370 $ 10,099.31 2.00 CURB&GUTTER-2'GUTTER 9710 $ 256,409.48 2 CURB AND GUTTER SUB GRADE PREPARATION 10080 $ 32,598.72 CROSS PANS 1600 $ 21,472.00 4 HANDICAP RAMPS (CORNER) 12 $ 55,440.00 MIDBLOCK HANDICAP RAMPS 6 $ 14,490.00 6' SIDEWALK-6" 56040 $ 358,936.20 2 8'TRAIL-6" 370 $ 2,350.43 2 SIDEWALK SUB GRADE PREP 56410 $ 152,814.69 SUBTOTAL $ 904,611 LANDSCAPING IMPROVEMENTS QTY COST COMMENTS OPEN SPACE 252000 $ 992,250.00 FORMAL-STREETS _ 2220 $ 23,193.45 12 MONUMENTS 1 $ 36,750.00 FENCING 3500 $ 62,208.20 MAIL BOXES 2 $ 3,550.00 40 SUBTOTAL $ 1,117,952 ADDITIONAL COSTS 0 COST COMMENTS LETTERS OF CREDIT/BONDS 0.5% $ 22,560 WARRANTY 3.0% $ 135,360 builder responsibility MOBILIZATION 5.0% $ 233,140 CONTINGENCY 20.0% $ 1,065,851 $ - SUBTOTAL $ 1,456,911 COST PARTICIPATION QTY COST COMMENTS REIMBURSEMENT 0 $ - SUBTOTAL $ - PROJECT TOTAL $ 6,786,16/ EXHIBIT E Map Depicting Public Improvements 27 Site Data Table 1 Highway • • I` PHASE 1 ` r CV IL.xx. SFD (::: 115'): 95 units (43.9%) `_ E. _ _ - `� ,‘, 4 xx' SFD ( 115'): 55 units (29.1%) �� ° ❑ ❑ ° L i : 44 ° ° ° �� 9.6' Access Point Aligned A SFD (60 x 120). 58 units (27.9/o) ❑ -® 1 with Highland Drive PHASE 1 TOTAL: 208 units o =® 11 t o I ❑ PHASE 2 ❑ N\o • '49 SFD (40'x 115'): 27 units (38.0%) o �i'i'��I® l' IN\6\ o ° xx' SFD (50' x 115'): 35 units (49.3%) ° ° 500' Oil & Gas Setback /� SFD (60' x 120'): 9 units (12.7%) IX ° o ° (from wells and facilities) lk r \LII\LL ° o : :: : 71 units ° °279 units ° �`��,vv� Pipeline Easement tirjOn. _�OUT _ • - A 2 (Assume 30' Width) ti PARCEL •, , libi A AROW Width: c75� ° IPA r ` ,` II � � IDitch Collector: 80/64 "IA Local: 60' ' • 'XL HL Total Land Area : 116.1 Acres o o ° o ° klkiN43iii I, 1,' %N.N1‘\\N‘\ Electric Easement (does not includes OGOA and Out Parcel) U ❑ o o , lit // ,: (Variable Width) Open Space: 40.0 ac ° o o ° - i///?° 'N I ////j//j j// (34.4°/D of Total Site Area) 6 it ° ° ° ,� ///////// ,,LI ° o ° I �1\,. 1 /j/j%j/j///j j/�jj/14'UTILITY 14'UTILITY ❑ ° o o j��/j///////////��EASEMENT EASEMENTt ! o 0 0 ° o , / j/// ///�///�///60'ROWI / / ///////// ///////////// 34'FL-FL 6'MIN. Ok OF 6'MIN. I ° // /j/j// //��%� //// f ESCAPE ROAD ESCAPE / I 0 1111111 1111111 ' �. • ////// /////////// MINS u 6 TRAVEL I TRAVEL 7' ,. MIN. ❑ //��i/ //// ///// WALK -, PARK LANE Y LANE PARK � ' i ❑ 111111 >�1111� % , „�i j�„i WALK W- and Area %,;, 2.0% 2.0% ❑ t / / /� �i ,ii��,/�,,/�i fii%ii 6 T m //// % / //j / ii ii i ii/ iij i;y ii Storm A =I ////// / /j jii ji i0 �i!�� i Water 17S so sa)— //////, j% ///////j/ �,r,,,,,,i,��„r��/i�%�% Sanitary m o 0 0 o m ri / / / / // // /// ,// 6'VERTICAL CURB OR 0 6•VERTICAL CURB OR �.{ME �{ // / / /// // / // /07, MOUNTABLE MOUNTABLE ❑ d aim (V // //�/�//%///%///////% /// W/2.0'GUTTER Typical Roadway Section W/20'GUTTER �� //„ ,///////////////////%�; %;ii ;ii00 , 500 JesasSetback 0111111111V 19,72 //////////////////// 4510iii!iiiii� z:m• ////,/;////////// (from w ) 11 © ///////////////////////// /%%/%%* ,0%;// Roadway o 0 0 o m o 0 o m o 0 0Illill j%//////%/�/%/jj%/j%/j////////*//i/�/%Ji/ �/ // //r;,//,/, / //////////////////,�;;;,;;;;,;;;g, // Open Space = A //i�//z ;/ /';%%/// ///7/7� /1/0/ /i%/05:0 / ;%;;;,,' -/////// ,1//0 jii/ji/�ji0�ii�%%ijii%ii jii j%�ii��ii ii %�j,,��iif/i/��ii* , Park a /// /// 0i/,i,�,v�/i/,,,,,,,�„rfjr/,r�0 ,%i�jii�jii%ii/0; ii%/i��i%%/iii�i� ' 1 1 1 1 1 1 Phase Line \ .�� m Plan is conceptual and subject to change NE °�a3Qg ft�00 1101 Bannodc Street K I T E L E Y FARMS Denver,Colorado 80204 J J J Conceptual Site Plan and Cost Exhibit TERRA FORMA i P 303.892.1186NOIIS DESIGN NORTH SCALE 1"=300' www.norris-design.com Planning I LendscepeArchitecture I Branding EXHIBIT F Financial Plan 28 PIPER I SANDLER Kiteley Ranch Metropolitan District Weld County, Colorado General Obligation Bonds, Series 2023 General Obligation & Refunding Bonds, Series 2033 Service Plan Bond Assumptions Series 2023 Series 2033 Total Closing Date 6/1/2023 12/1/2033 First Call Date 6/1/2028 12/1/2043 Final Maturity 12/1/2053 12/1/2063 Discharge Date 12/2/2063 12/2/2063 Sources of Funds Par Amount 15,175,000 26,360,000 Funds on Hand 0 2,600,000 Total 15,175,000 28,960,000 Uses of Funds Project Fund 11,044,250 14,757,200 25,801,450 Refunding Escrow 0 12,110,000 Capitalized Interest 2,276,250 0 Reserve Fund 1,301,000 1,712,000 Cost of Issuance 553,500 331,800 Total 15,175,000 28,960,000 Debt Features Projected Coverage at Mill Levy Cap 1.00x 1.30x Tax Status Tax-Exempt Tax-Exempt Interest Payment Type Current Current Rating Non-Rated Investment Grade Coupon(Interest Rate) 5.000% 3.000% Annual Trustee Fee $4,000 $4,000 Biennial Reassessment Residential 6.00% 6.00% Tax Authority Assumptions Metropolitan District Revenue Residential Assessment Ratio Service Plan Base Year 2006 Debt Service Mills Service Plan Mill Levy Cap 50.000 Maximum Adjusted Cap 57.266 Specific Ownership Tax 6.00% County Treasurer Fee 1.50% Fee Revenue SFD Facility Fee $5,000 5/10/2023 1 PIPER I SANDLER Kiteley Ranch Metropolitan District Development Summary Residential Phase 1-40' Phase 1-50' Phase 1-60' Phase 2-40' Phase 2-50' Phase 2-60' - - Total Lots SFD Lots SFD Lots SFD Lots SFD Lots SFD Lots SFD Statutory Actual $550,000 $595,000 $680,000 $550,000 $595,000 $680,000 - - Value(2023) 2023 - - - - - - - - - 2024 12 8 8 - - - - - 28 2025 36 24 24 - - - - - 84 2026 36 23 24 - 1 - - - 84 2027 11 - 2 25 24 9 - - 71 2028 - - - 2 10 - - - 12 2029 - - - - - - - - - 2030 - - - - - - - - - 2031 - - - - - - - - - 2032 - - - - - - - - - 2033 - - - - - - - - - 2034 - - - - - - - - - 2035 - - - - - - - - - 2036 - - - - - - - - - 2037 - - - - - - - - - 2038 - - - - - - - - - 2039 - - - - - - - - - 2040 - - - - - - - - - 2041 - - - - - - - - - 2042 - - - - - - - - - 2043 - - - - - - - - - 2044 - - - - - - - - - 2045 - - - - - - - - - 2046 - - - - - - - - - 2047 - - - - - - - - - 2048 - - - - - - - - - 2049 - - - - - - - - - 2050 - - - - - - - - - 2051 - - - - - - - - - 2052 - - - - - - - - - 2053 - - - - - - - - - 2054 - - - - - - - - - 2055 - - - - - - - - - 2056 - - - - - - - - - 2057 - - - - - - - - - 2058 - - - - - - - - - 2059 - - - - - - - - - 2060 - - - - - - - - - 2061 - - - - - - - - - 2062 - - - - - - - - - 2063 - - - - - - - - - Total Units 95 55 58 27 35 9 - - 279 Total Statutory $52,250,000 $32,725,000 $39,440,000 $14,850,000 $20,825,000 $6,120,000 - - $166,210,000 Actual Value D Kiteley Ranch MD Service Plan 05.10.23.xlsx Dev 5/10/2023 2 PIPER I SANDLER Kiteley Ranch Metropolitan District Assessed Value Vacant and Improved Land' Residential-Single Family Cumulative Statutory Assessed Value in Residential Units Biennial Cumulative Statutory Assessed Value in Actual Value Collection Year Delivered Reassessment Actual Value Assessment Rate Collection Year 2 Year Lag 2 Year Lag 29.00% 6.00% 2023 1,783,621 30,050 - - 0 6.950% 0 2024 5,133,522 30,050 28 - 17,136,000 6.765% 0 2025 5,102,619 517,250 84 - 69,572,160 7.150% 0 2026 4,187,099 1,488,721 84 4,174,330 127,231,373 7.150% 1,225,224 2027 709,587 1,479,760 71 - 172,217,253 7.150% 4,974,409 2028 (0) 1,214,259 12 10,333,035 190,334,058 7.150% 9,097,043 2029 (0) 205,780 - - 190,334,058 7.150% 12,313,534 2030 (0) (0) - 11,420,043 201,754,102 7.150% 13,608,885 2031 (0) (0) - - 201,754,102 7.150% 13,608,885 2032 (0) (0) - 12,105,246 213,859,348 7.150% 14,425,418 2033 (0) (0) - - 213,859,348 7.150% 14,425,418 2034 (0) (0) - 12,831,561 226,690,909 7.150% 15,290,943 2035 (0) (0) - - 226,690,909 7.150% 15,290,943 2036 (0) (0) - 13,601,455 240,292,363 7.150% 16,208,400 2037 (0) (0) - - 240,292,363 7.150% 16,208,400 2038 (0) (0) - 14,417,542 254,709,905 7.150% 17,180,904 2039 (0) (0) - - 254,709,905 7.150% 17,180,904 2040 (0) (0) - 15,282,594 269,992,499 7.150% 18,211,758 2041 (0) (0) - - 269,992,499 7.150% 18,211,758 2042 (0) (0) - 16,199,550 286,192,049 7.150% 19,304,464 2043 (0) (0) - - 286,192,049 7.150% 19,304,464 2044 (0) (0) - 17,171,523 303,363,572 7.150% 20,462,732 2045 (0) (0) - - 303,363,572 7.150% 20,462,732 2046 (0) (0) - 18,201,814 321,565,387 7.150% 21,690,495 2047 (0) (0) - - 321,565,387 7.150% 21,690,495 2048 (0) (0) - 19,293,923 340,859,310 7.150% 22,991,925 2049 (0) (0) - - 340,859,310 7.150% 22,991,925 2050 (0) (0) - 20,451,559 361,310,868 7.150% 24,371,441 2051 (0) (0) - - 361,310,868 7.150% 24,371,441 2052 (0) (0) - 21,678,652 382,989,520 7.150% 25,833,727 2053 (0) (0) - - 382,989,520 7.150% 25,833,727 2054 (0) (0) - 22,979,371 405,968,892 7.150% 27,383,751 2055 (0) (0) - - 405,968,892 7.150% 27,383,751 2056 (0) (0) - 24,358,134 430,327,025 7.150% 29,026,776 2057 (0) (0) - - 430,327,025 7.150% 29,026,776 2058 (0) (0) - 25,819,622 456,146,647 7.150% 30,768,382 2059 (0) (0) - - 456,146,647 7.150% 30,768,382 2060 (0) (0) - 27,368,799 483,515,445 7.150% 32,614,485 2061 (0) (0) - - 483,515,445 7.150% 32,614,485 2062 (0) (0) - 29,010,927 512,526,372 7.150% 34,571,354 2063 (0) (0) - - 512,526,372 7.150% 34,571,354 Total 279 336,699,679 1.Vacant land value calculated in year prior to construction as 10%build-out market value D Kiteley Ranch MD Service Plan 05.10.23.xlsx#1 AV 5/10/2023 3 PIPER I SANDLER Kiteley Ranch Metropolitan District Assessed Value State Assessed Oil&Gas Equipment Oil&Gas Production Total Cumulative Statutory Assessed Value in Cumulative Statutory Assessed Value in Cumulative Statutory Assessed Value in Assessed Value in Actual Value Collection Year Actual Value Collection Year Actual Value Collection Year Collection Year 2 Year Lag 2 Year Lag 2 Year Lag 2 Year Lag 29.00% 29.00% 87.50% 2023 707,552 205,190 1,832,628 565,750 2,465,157 5,899,410 6,700,400 2024 707,552 205,190 1,773,511 548,606 1,655,858 3,971,263 4,755,109 2025 707,552 205,190 1,714,394 531,462 1,224,155 2,157,012 3,410,915 2026 707,552 205,190 1,655,277 514,318 960,782 1,448,876 4,882,329 2027 707,552 205,190 1,596,160 497,174 784,676 1,071,135 8,227,669 2028 707,552 205,190 1,537,043 480,030 663,436 840,684 11,837,207 2029 707,552 205,190 1,477,926 462,886 573,265 686,591 13,873,982 2030 707,552 205,190 1,418,809 445,742 503,096 580,506 14,840,324 2031 707,552 205,190 1,359,692 428,598 445,648 501,607 14,744,280 2032 707,552 205,190 1,300,575 411,455 401,714 440,209 15,482,272 2033 707,552 205,190 1,241,458 394,311 366,262 389,942 15,414,861 2034 707,552 205,190 1,182,341 377,167 333,551 351,500 16,224,800 2035 707,552 205,190 1,123,224 360,023 304,746 320,480 16,176,636 2036 707,552 205,190 1,064,107 342,879 278,152 291,857 17,048,326 2037 707,552 205,190 1,004,990 325,735 253,420 266,652 17,005,977 2038 707,552 205,190 945,873 308,591 230,419 243,383 17,938,068 2039 707,552 205,190 886,755 291,447 209,028 221,742 17,899,283 2040 707,552 205,190 827,638 274,303 189,135 201,617 18,892,868 2041 707,552 205,190 768,521 257,159 170,634 182,900 18,857,007 2042 707,552 205,190 709,404 240,015 153,428 165,493 19,915,162 2043 707,552 205,190 650,287 222,871 137,427 149,305 19,881,830 2044 707,552 205,190 591,170 205,727 122,546 134,250 21,007,899 2045 707,552 205,190 532,053 188,583 108,706 120,249 20,976,753 2046 707,552 205,190 472,936 171,439 95,835 107,227 22,174,352 2047 707,552 205,190 413,819 154,295 83,865 95,118 22,145,099 2048 707,552 205,190 354,702 137,152 72,733 83,856 23,418,122 2049 707,552 205,190 295,585 120,008 62,381 73,382 23,390,505 2050 707,552 205,190 236,468 102,864 52,753 63,642 24,743,136 2051 707,552 205,190 177,351 85,720 43,798 54,583 24,716,933 2052 707,552 205,190 118,234 68,576 35,471 46,158 26,153,651 2053 707,552 205,190 59,117 51,432 27,727 38,324 26,128,673 2054 707,552 205,190 0 34,288 7,616 31,037 27,654,266 2055 707,552 205,190 0 17,144 0 24,261 27,630,346 2056 707,552 205,190 0 0 0 6,664 29,238,630 2057 707,552 205,190 0 0 0 0 29,231,966 2058 707,552 205,190 0 0 0 0 30,973,572 2059 707,552 205,190 0 0 0 0 30,973,572 2060 707,552 205,190 0 0 0 0 32,819,675 2061 707,552 205,190 0 0 0 0 32,819,675 2062 707,552 205,190 0 0 0 0 34,776,544 2063 707,552 205,190 0 0 0 0 34,776,544 Total 1.Vacant D Kiteley Ranch MD Service Plan 05.10.23.xlsx#1 AV 5/10/2023 4 PIPER'SANDLER Kiteley Ranch Metropolitan District Revenue Total District Mill Levy Revenue Fee Revenue Expense Total Assessed Value in Debt Mill Levy Specific Ownership County Treasurer Revenue Available Collection Year Debt Mill Levy Collections Taxes Units Delivered Facility Fee per Unit Fees Collected Fee Annual Trustee Fee for Debt Service 57.266 Cap 99.50% 6.00% SFD $5,000 1.50% 57.266 Target Inflated at 0.00% 2023 6,700,400 0.000 0 0 - 0 0 0 0 0 2024 4,755,109 50.000 236,567 14,194 28 5,000 140,000 (3,549) (4,000) 383,212 2025 3,410,915 50.000 169,693 10,182 84 5,000 420,000 (2,545) (4,000) 593,329 2026 4,882,329 51.421 249,801 14,988 84 5,000 420,000 (3,747) (4,000) 677,042 2027 8,227,669 53.425 437,362 26,242 71 5,000 355,000 (6,560) (4,000) 808,044 2028 11,837,207 54.353 640,172 38,410 12 5,000 60,000 (9,603) (4,000) 724,980 2029 13,873,982 55.027 759,630 45,578 - 0 0 (11,394) (4,000) 789,813 2030 14,840,324 55.194 815,006 48,900 - 0 0 (12,225) (4,000) 847,681 2031 14,744,280 55.228 810,228 48,614 - 0 0 (12,153) (4,000) 842,688 2032 15,482,272 55.278 851,545 51,093 - 0 0 (12,773) (4,000) 885,864 2033 15,414,861 55.301 848,191 50,891 - 0 0 (12,723) (4,000) 882,360 2034 16,224,800 55.338 893,364 53,602 - 0 0 (13,400) (4,000) 929,565 2035 16,176,636 55.354 890,968 53,458 - 0 0 (13,365) (4,000) 927,061 2036 17,048,326 55.385 939,505 56,370 - 0 0 (14,093) (4,000) 977,783 2037 17,005,977 55.399 937,398 56,244 - 0 0 (14,061) (4,000) 975,581 2038 17,938,068 55.425 989,251 59,355 - 0 0 (14,839) (4,000) 1,029,767 2039 17,899,283 55.437 987,321 59,239 - 0 0 (14,810) (4,000) 1,027,751 2040 18,892,868 55.460 1,042,562 62,554 - 0 0 (15,638) (4,000) 1,085,477 2041 18,857,007 55.471 1,040,778 62,447 - 0 0 (15,612) (4,000) 1,083,613 2042 19,915,162 55.491 1,099,580 65,975 - 0 0 (16,494) (4,000) 1,145,061 2043 19,881,830 55.500 1,097,921 65,875 - 0 0 (16,469) (4,000) 1,143,328 2044 21,007,899 55.517 1,160,471 69,628 - 0 0 (17,407) (4,000) 1,208,692 2045 20,976,753 55.526 1,158,922 69,535 - 0 0 (17,384) (4,000) 1,207,073 2046 22,174,352 55.541 1,225,422 73,525 - 0 0 (18,381) (4,000) 1,276,566 2047 22,145,099 55.548 1,223,967 73,438 - 0 0 (18,359) (4,000) 1,275,045 2048 23,418,122 55.561 1,294,634 77,678 - 0 0 (19,420) (4,000) 1,348,893 2049 23,390,505 55.568 1,293,260 77,596 - 0 0 (19,399) (4,000) 1,347,457 2050 24,743,136 55.579 1,368,329 82,100 - 0 0 (20,525) (4,000) 1,425,904 2051 24,716,933 55.585 1,367,025 82,022 - 0 0 (20,505) (4,000) 1,424,541 2052 26,153,651 55.595 1,446,743 86,805 - 0 0 (21,701) (4,000) 1,507,847 2053 26,128,673 55.600 1,445,501 86,730 - 0 0 (21,683) (4,000) 1,506,548 2054 27,654,266 55.609 1,530,135 91,808 - 0 0 (22,952) (4,000) 1,594,991 2055 27,630,346 55.614 1,528,945 91,737 - 0 0 (22,934) (4,000) 1,593,747 2056 29,238,630 55.623 1,618,217 97,093 - 0 0 (24,273) (4,000) 1,687,037 2057 29,231,966 55.625 1,617,886 97,073 - 0 0 (24,268) (4,000) 1,686,690 2058 30,973,572 55.627 1,714,346 102,861 - 0 0 (25,715) (4,000) 1,787,492 2059 30,973,572 55.627 1,714,346 102,861 - 0 0 (25,715) (4,000) 1,787,492 2060 32,819,675 55.629 1,816,595 108,996 - 0 0 (27,249) (4,000) 1,894,341 2061 32,819,675 55.629 1,816,595 108,996 - 0 0 (27,249) (4,000) 1,894,341 2062 34,776,544 55.631 1,924,978 115,499 - 0 0 (28,875) (4,000) 2,007,602 2063 34,776,544 55.631 1,924,978 115,499 - 0 0 (28,875) (4,000) 2,007,602 Total 45,928,136 2,755,688 279 1,395,000 (688,922) (160,000) 49,229,902 D Kiteley Ranch MD Service Plan 05.10.23.xlsx#1 Rev 5/10/2023 5 PIPER I SANDLER Kiteley Ranch Metropolitan District Debt Service Total Net Debt Service Surplus Fund Ratio Analysis Series 2023 Series 2033 Total Revenue Available Funds on Hand Cumulative Debt Service Senior Debt to for Debt Service Dated:6/1/2023 Dated:12/1/2033 Annual Surplus Used as a Source Balancer Released Revenue Coverage Assessed Value Par: $15,175,000 Par: $26,360,000 $4,153,500 Proj: $11,044,250 Proj: $14,757,200 2023 0 0 0 0 0 0 n/a 319% 2024 383,212 0 0 383,212 383,212 0 n/a 445% 2025 593,329 0 0 593,329 976,541 0 n/a 311% 2026 677,042 379,375 379,375 297,667 1,274,209 0 178% 184% 2027 808,044 758,750 758,750 49,294 1,323,502 0 106% 128% 2028 724,980 758,750 758,750 (33,770) 1,289,732 0 96% 109% 2029 789,813 788,750 788,750 1,063 1,290,795 0 100% 102% 2030 847,681 847,250 847,250 431 1,291,227 0 100% 102% 2031 842,688 837,750 837,750 4,938 1,296,165 0 101% 97% 2032 885,864 883,500 883,500 2,364 1,298,529 0 100% 96% 2033 882,360 881,750 0 881,750 610 1,299,000 0 139 100% 253% 2034 929,565 Refunded 925,800 925,800 3,765 0 3,765 100% 252% 2035 927,061 926,750 926,750 311 0 311 100% 237% 2036 977,783 977,550 977,550 233 0 233 100% 235% 2037 975,581 971,700 971,700 3,881 0 3,881 100% 220% 2038 1,029,767 1,025,850 1,025,850 3,917 0 3,917 100% 217% 2039 1,027,751 1,023,200 1,023,200 4,551 0 4,551 100% 203% 2040 1,085,477 1,085,400 1,085,400 77 0 77 100% 199% 2041 1,083,613 1,080,500 1,080,500 3,113 0 3,113 100% 184% 2042 1,145,061 1,140,450 1,140,450 4,611 0 4,611 100% 180% 2043 1,143,328 1,143,300 1,143,300 28 0 28 100% 166% 2044 1,208,692 1,205,700 1,205,700 2,992 0 2,992 100% 160% 2045 1,207,073 1,205,850 1,205,850 1,223 0 1,223 100% 146% 2046 1,276,566 1,275,550 1,275,550 1,016 0 1,016 100% 140% 2047 1,275,045 1,272,700 1,272,700 2,345 0 2,345 100% 127% 2048 1,348,893 1,344,400 1,344,400 4,493 0 4,493 100% 120% 2049 1,347,457 1,343,400 1,343,400 4,057 0 4,057 100% 106% 2050 1,425,904 1,421,800 1,421,800 4,104 0 4,104 100% 99% 2051 1,424,541 1,422,200 1,422,200 2,341 0 2,341 100% 86% 2052 1,507,847 1,506,850 1,506,850 997 0 997 100% 77% 2053 1,506,548 1,503,200 1,503,200 3,348 0 3,348 100% 60% 2054 1,594,991 1,593,800 1,593,800 1,191 0 1,191 100% 56% 2055 1,593,747 1,590,800 1,590,800 2,947 0 2,947 100% 49% 2056 1,687,037 1,686,900 1,686,900 137 0 137 100% 44% 2057 1,686,690 1,684,100 1,684,100 2,590 0 2,590 100% 38% 2058 1,787,492 1,785,250 1,785,250 2,242 0 2,242 100% 33% 2059 1,787,492 1,787,200 1,787,200 292 0 292 100% 27% 2060 1,894,341 1,892,800 1,892,800 1,541 0 1,541 100% 22% 2061 1,894,341 1,893,900 1,893,900 441 0 441 100% 16% 2062 2,007,602 2,003,500 2,003,500 4,102 0 4,102 100% 10% 2063 2,007,602 2,006,300 2,006,300 1,302 0 1,302 100% 0% Total 49,229,902 6,135,875 41,726,700 47,862,575 1,367,327 1,299,000 68,327 D Kiteley Ranch MD Service Plan 05.10.23.xisx CI Debt 5/10/2023 6 SOURCES AND USES OF FUNDS KITELEY RANCH METROPOLITAN DISTRICT Weld County, Colorado GENERAL OBLIGATION BONDS, SERIES 2023 Service Plan Dated Date 06/01/2023 Delivery Date 06/01/2023 Sources: Bond Proceeds: Par Amount 15,175,000.00 15,175,000.00 Uses: Project Fund Deposits: Project Fund 11,044,250.00 Other Fund Deposits: Capitalized Interest Fund 2,276,250.00 Debt Service Reserve Fund 1,301,000.00 3,577,250.00 Cost of Issuance: Other Cost of Issuance 250,000.00 Delivery Date Expenses: Underwriter's Discount 303,500.00 15,175,000.00 May 10,2023 3:49 pm Prepared by Piper Sandler Special District Group (Finance 8.901 Kiteley Ranch MD:D_51023-23A) 7 BOND SUMMARY STATISTICS KITELEY RANCH METROPOLITAN DISTRICT Weld County, Colorado GENERAL OBLIGATION BONDS, SERIES 2023 Service Plan Dated Date 06/01/2023 Delivery Date 06/01/2023 Last Maturity 12/01/2053 Arbitrage Yield 5.000000% True Interest Cost(TIC) 5.148563% Net Interest Cost(NIC) 5.082740% All-In TIC 5.274295% Average Coupon 5.000000% Average Life(years) 24.172 Duration of Issue(years) 13.885 Par Amount 15,175,000.00 Bond Proceeds 15,175,000.00 Total Interest 18,340,625.00 Net Interest 18,644,125.00 Total Debt Service 33,515,625.00 Maximum Annual Debt Service 2,803,500.00 Average Annual Debt Service 1,098,872.95 Underwriter's Fees(per$1000) Average Takedown Other Fee 20.000000 Total Underwriter's Discount 20.000000 Bid Price 98.000000 Par Average Average Bond Component Value Price Coupon Life Term Bond Due 2053 15,175,000.00 100.000 5.000% 24.172 15,175,000.00 24.172 All-In Arbitrage TIC TIC Yield Par Value 15,175,000.00 15,175,000.00 15,175,000.00 +Accrued Interest + Premium (Discount) - Underwriter's Discount (303,500.00) (303,500.00) -Cost of Issuance Expense (250,000.00) -Other Amounts Target Value 14,871,500.00 14,621,500.00 15,175,000.00 Target Date 06/01/2023 06/01/2023 06/01/2023 Yield 5.148563% 5.274295% 5.000000% May 10,2023 3:49 pm Prepared by Piper Sandler Special District Group (Finance 8.901 Kiteley Ranch MD:D_51023-23A) 8 BOND PRICING KITELEY RANCH METROPOLITAN DISTRICT Weld County, Colorado GENERAL OBLIGATION BONDS, SERIES 2023 Service Plan Maturity Bond Component Date Amount Rate Yield Price Term Bond Due 2053: 12/01/2023 5.000% 5.000% 100.000 12/01/2024 5.000% 5.000% 100.000 12/01/2025 5.000% 5.000% 100.000 12/01/2026 5.000% 5.000% 100.000 12/01/2027 5.000% 5.000% 100.000 12/01/2028 5.000% 5.000% 100.000 12/01/2029 30,000 5.000% 5.000% 100.000 12/01/2030 90,000 5.000% 5.000% 100.000 12/01/2031 85,000 5.000% 5.000% 100.000 12/01/2032 135,000 5.000% 5.000% 100.000 12/01/2033 140,000 5.000% 5.000% 100.000 12/01/2034 190,000 5.000% 5.000% 100.000 12/01/2035 200,000 5.000% 5.000% 100.000 12/01/2036 260,000 5.000% 5.000% 100.000 12/01/2037 270,000 5.000% 5.000% 100.000 12/01/2038 340,000 5.000% 5.000% 100.000 12/01/2039 355,000 5.000% 5.000% 100.000 12/01/2040 430,000 5.000% 5.000% 100.000 12/01/2041 450,000 5.000% 5.000% 100.000 12/01/2042 530,000 5.000% 5.000% 100.000 12/01/2043 555,000 5.000% 5.000% 100.000 12/01/2044 650,000 5.000% 5.000% 100.000 12/01/2045 680,000 5.000% 5.000% 100.000 12/01/2046 785,000 5.000% 5.000% 100.000 12/01/2047 825,000 5.000% 5.000% 100.000 12/01/2048 940,000 5.000% 5.000% 100.000 12/01/2049 985,000 5.000% 5.000% 100.000 12/01/2050 1,110,000 5.000% 5.000% 100.000 12/01/2051 1,165,000 5.000% 5.000% 100.000 12/01/2052 1,305,000 5.000% 5.000% 100.000 12/01/2053 2,670,000 5.000% 5.000% 100.000 15,175,000 Dated Date 06/01/2023 Delivery Date 06/01/2023 First Coupon 12/01/2023 Par Amount 15,175,000.00 Original Issue Discount Production 15,175,000.00 100.000000% Underwriter's Discount (303,500.00) (2.000000%) Purchase Price 14,871,500.00 98.000000% Accrued Interest Net Proceeds 14,871,500.00 May 10,2023 3:49 pm Prepared by Piper Sandler Special District Group (Finance 8.901 Kiteley Ranch MD:D_51023-23A) 9 NET DEBT SERVICE KITELEY RANCH METROPOLITAN DISTRICT Weld County, Colorado GENERAL OBLIGATION BONDS, SERIES 2023 Service Plan Capitalized Period Total Interest Debt Service Net Ending Principal Coupon Interest Debt Service Fund Reserve Fund Debt Service 12/01/2023 379,375 379,375 379,375 12/01/2024 758,750 758,750 758,750 12/01/2025 758,750 758,750 758,750 12/01/2026 758,750 758,750 379,375 379,375 12/01/2027 758,750 758,750 758,750 12/01/2028 758,750 758,750 758,750 12/01/2029 30,000 5.000% 758,750 788,750 788,750 12/01/2030 90,000 5.000% 757,250 847,250 847,250 12/01/2031 85,000 5.000% 752,750 837,750 837,750 12/01/2032 135,000 5.000% 748,500 883,500 883,500 12/01/2033 140,000 5.000% 741,750 881,750 881,750 12/01/2034 190,000 5.000% 734,750 924,750 924,750 12/01/2035 200,000 5.000% 725,250 925,250 925,250 12/01/2036 260,000 5.000% 715,250 975,250 975,250 12/01/2037 270,000 5.000% 702,250 972,250 972,250 12/01/2038 340,000 5.000% 688,750 1,028,750 1,028,750 12/01/2039 355,000 5.000% 671,750 1,026,750 1,026,750 12/01/2040 430,000 5.000% 654,000 1,084,000 1,084,000 12/01/2041 450,000 5.000% 632,500 1,082,500 1,082,500 12/01/2042 530,000 5.000% 610,000 1,140,000 1,140,000 12/01/2043 555,000 5.000% 583,500 1,138,500 1,138,500 12/01/2044 650,000 5.000% 555,750 1,205,750 1,205,750 12/01/2045 680,000 5.000% 523,250 1,203,250 1,203,250 12/01/2046 785,000 5.000% 489,250 1,274,250 1,274,250 12/01/2047 825,000 5.000% 450,000 1,275,000 1,275,000 12/01/2048 940,000 5.000% 408,750 1,348,750 1,348,750 12/01/2049 985,000 5.000% 361,750 1,346,750 1,346,750 12/01/2050 1,110,000 5.000% 312,500 1,422,500 1,422,500 12/01/2051 1,165,000 5.000% 257,000 1,422,000 1,422,000 12/01/2052 1,305,000 5.000% 198,750 1,503,750 1,503,750 12/01/2053 2,670,000 5.000% 133,500 2,803,500 1,301,000 1,502,500 15,175,000 18,340,625 33,515,625 2,276,250 1,301,000 29,938,375 May 10,2023 3:49 pm Prepared by Piper Sandler Special District Group (Finance 8.901 Kiteley Ranch MD:D_51023-23A) 10 BOND DEBT SERVICE KITELEY RANCH METROPOLITAN DISTRICT Weld County, Colorado GENERAL OBLIGATION BONDS, SERIES 2023 Service Plan Annual Period Debt Debt Ending Principal Coupon Interest Service Service 12/01/2023 379,375 379,375 379,375 06/01/2024 379,375 379,375 12/01/2024 379,375 379,375 758,750 06/01/2025 379,375 379,375 12/01/2025 379,375 379,375 758,750 06/01/2026 379,375 379,375 12/01/2026 379,375 379,375 758,750 06/01/2027 379,375 379,375 12/01/2027 379,375 379,375 758,750 06/01/2028 379,375 379,375 12/01/2028 379,375 379,375 758,750 06/01/2029 379,375 379,375 12/01/2029 30,000 5.000% 379,375 409,375 788,750 06/01/2030 378,625 378,625 12/01/2030 90,000 5.000% 378,625 468,625 847,250 06/01/2031 376,375 376,375 12/01/2031 85,000 5.000% 376,375 461,375 837,750 06/01/2032 374,250 374,250 12/01/2032 135,000 5.000% 374,250 509,250 883,500 06/01/2033 370,875 370,875 12/01/2033 140,000 5.000% 370,875 510,875 881,750 06/01/2034 367,375 367,375 12/01/2034 190,000 5.000% 367,375 557,375 924,750 06/01/2035 362,625 362,625 12/01/2035 200,000 5.000% 362,625 562,625 925,250 06/01/2036 357,625 357,625 12/01/2036 260,000 5.000% 357,625 617,625 975,250 06/01/2037 351,125 351,125 12/01/2037 270,000 5.000% 351,125 621,125 972,250 06/01/2038 344,375 344,375 12/01/2038 340,000 5.000% 344,375 684,375 1,028,750 06/01/2039 335,875 335,875 12/01/2039 355,000 5.000% 335,875 690,875 1,026,750 06/01/2040 327,000 327,000 12/01/2040 430,000 5.000% 327,000 757,000 1,084,000 06/01/2041 316,250 316,250 12/01/2041 450,000 5.000% 316,250 766,250 1,082,500 06/01/2042 305,000 305,000 12/01/2042 530,000 5.000% 305,000 835,000 1,140,000 06/01/2043 291,750 291,750 12/01/2043 555,000 5.000% 291,750 846,750 1,138,500 06/01/2044 277,875 277,875 12/01/2044 650,000 5.000% 277,875 927,875 1,205,750 06/01/2045 261,625 261,625 12/01/2045 680,000 5.000% 261,625 941,625 1,203,250 06/01/2046 244,625 244,625 12/01/2046 785,000 5.000% 244,625 1,029,625 1,274,250 06/01/2047 225,000 225,000 12/01/2047 825,000 5.000% 225,000 1,050,000 1,275,000 06/01/2048 204,375 204,375 12/01/2048 940,000 5.000% 204,375 1,144,375 1,348,750 06/01/2049 180,875 180,875 12/01/2049 985,000 5.000% 180,875 1,165,875 1,346,750 06/01/2050 156,250 156,250 12/01/2050 1,110,000 5.000% 156,250 1,266,250 1,422,500 06/01/2051 128,500 128,500 12/01/2051 1,165,000 5.000% 128,500 1,293,500 1,422,000 06/01/2052 99,375 99,375 12/01/2052 1,305,000 5.000% 99,375 1,404,375 1,503,750 06/01/2053 66,750 66,750 12/01/2053 2,670,000 5.000% 66,750 2,736,750 2,803,500 15,175,000 18,340,625 33,515,625 33,515,625 May 10,2023 3:49 pm Prepared by Piper Sandler Special District Group (Finance 8.901 Kiteley Ranch MD:D_51023-23A) 11 CALL PROVISIONS KITELEY RANCH METROPOLITAN DISTRICT Weld County, Colorado GENERAL OBLIGATION BONDS, SERIES 2023 Service Plan Call Table: CALL Call Date Call Price 06/01/2028 103.00 06/01/2029 102.00 06/01/2030 101.00 06/01/2031 100.00 May 10,2023 3:49 pm Prepared by Piper Sandler Special District Group (Finance 8.901 Kiteley Ranch MD:D_51023-23A) 12 BOND SOLUTION KITELEY RANCH METROPOLITAN DISTRICT Weld County, Colorado GENERAL OBLIGATION BONDS,SERIES 2023 Service Plan Period Proposed Proposed Debt Service Total Adj Revenue Unused Debt Service Ending Principal Debt Service Adjustments Debt Service Constraints Revenues Coverage 12/01/2023 379,375 (379,375) 12/01/2024 758,750 (758,750) 383,212 383,212 12/01/2025 758,750 (758,750) 593,329 593,329 12/01/2026 758,750 (379,375) 379,375 677,042 297,667 178.46% 12/01/2027 758,750 758,750 808,044 49,294 106.50% 12/01/2028 758,750 758,750 724,980 (33,770) 95.55% 12/01/2029 30,000 788,750 788,750 789,813 1,063 100.13% 12/01/2030 90,000 847,250 847,250 847,681 431 100.05% 12/01/2031 85,000 837,750 837,750 842,688 4,938 100.59% 12/01/2032 135,000 883,500 883,500 885,864 2,364 100.27% 12/01/2033 140,000 881,750 881,750 882,360 610 100.07% 12/01/2034 190,000 924,750 924,750 929,565 4,815 100.52% 12/01/2035 200,000 925,250 925,250 927,061 1,811 100.20% 12/01/2036 260,000 975,250 975,250 977,783 2,533 100.26% 12/01/2037 270,000 972,250 972,250 975,581 3,331 100.34% 12/01/2038 340,000 1,028,750 1,028,750 1,029,767 1,017 100.10% 12/01/2039 355,000 1,026,750 1,026,750 1,027,751 1,001 100.10% 12/01/2040 430,000 1,084,000 1,084,000 1,085,477 1,477 100.14% 12/01/2041 450,000 1,082,500 1,082,500 1,083,613 1,113 100.10% 12/01/2042 530,000 1,140,000 1,140,000 1,145,061 5,061 100.44% 12/01/2043 555,000 1,138,500 1,138,500 1,143,328 4,828 100.42% 12/01/2044 650,000 1,205,750 1,205,750 1,208,692 2,942 100.24% 12/01/2045 680,000 1,203,250 1,203,250 1,207,073 3,823 100.32% 12/01/2046 785,000 1,274,250 1,274,250 1,276,566 2,316 100.18% 12/01/2047 825,000 1,275,000 1,275,000 1,275,045 45 100.00% 12/01/2048 940,000 1,348,750 1,348,750 1,348,893 143 100.01% 12/01/2049 985,000 1,346,750 1,346,750 1,347,457 707 100.05% 12/01/2050 1,110,000 1,422,500 1,422,500 1,425,904 3,404 100.24% 12/01/2051 1,165,000 1,422,000 1,422,000 1,424,541 2,541 100.18% 12/01/2052 1,305,000 1,503,750 1,503,750 1,507,847 4,097 100.27% 12/01/2053 2,670,000 2,803,500 (1,301,000) 1,502,500 1,506,548 4,048 100.27% 15,175,000 33,515,625 (3,577,250) 29,938,375 31,288,567 1,350,192 May 10,2023 3:49 pm Prepared by Piper Sandler Special District Group (Finance 8.901 Kiteley Ranch MD:D_51023-23A) 13 SOURCES AND USES OF FUNDS KITELEY RANCH METROPOLITAN DISTRICT Weld County, Colorado GENERAL OBLIGATION REFUNDING &IMPROVEMENT BONDS, SERIES 2033 Service Plan Dated Date 12/01/2033 Delivery Date 12/01/2033 Sources: Bond Proceeds: Par Amount 26,360,000.00 Other Sources of Funds: Series 2022 Reserve Fund 1,301,000.00 Series 2023 Surplus Fund 1,250,000.00 2,551,000.00 28,911,000.00 Uses: Project Fund Deposits: Project Fund 14,757,200.00 Refunding Escrow Deposits: Cash Deposit 12,110,000.00 Other Fund Deposits: Debt Service Reserve Fund 1,712,000.00 Cost of Issuance: Other Cost of Issuance 200,000.00 Delivery Date Expenses: Underwriter's Discount 131,800.00 28,911,000.00 May 10,2023 3:51 pm Prepared by Piper Sandler Special District Group (Finance 8.901 Kiteley Ranch MD:D_51023-33R23,33R23) 14 BOND SUMMARY STATISTICS KITELEY RANCH METROPOLITAN DISTRICT Weld County, Colorado GENERAL OBLIGATION REFUNDING &IMPROVEMENT BONDS, SERIES 2033 Service Plan Dated Date 12/01/2033 Delivery Date 12/01/2033 Last Maturity 12/01/2063 Arbitrage Yield 3.000000% True Interest Cost(TIC) 3.032660% Net Interest Cost(NIC) 3.023152% All-In TIC 3.082650% Average Coupon 3.000000% Average Life(years) 21.597 Duration of Issue(years) 15.566 Par Amount 26,360,000.00 Bond Proceeds 26,360,000.00 Total Interest 17,078,700.00 Net Interest 17,210,500.00 Total Debt Service 43,438,700.00 Maximum Annual Debt Service 3,718,300.00 Average Annual Debt Service 1,447,956.67 Underwriter's Fees(per$1000) Average Takedown Other Fee 5.000000 Total Underwriter's Discount 5.000000 Bid Price 99.500000 Par Average Average Bond Component Value Price Coupon Life Term Bond due 2063 26,360,000.00 100.000 3.000% 21.597 26,360,000.00 21.597 All-In Arbitrage TIC TIC Yield Par Value 26,360,000.00 26,360,000.00 26,360,000.00 +Accrued Interest + Premium (Discount) - Underwriter's Discount (131,800.00) (131,800.00) -Cost of Issuance Expense (200,000.00) -Other Amounts Target Value 26,228,200.00 26,028,200.00 26,360,000.00 Target Date 12/01/2033 12/01/2033 12/01/2033 Yield 3.032660% 3.082650% 3.000000% May 10,2023 3:51 pm Prepared by Piper Sandler Special District Group (Finance 8.901 Kiteley Ranch MD:D_51023-33R23,33R23) 15 BOND PRICING KITELEY RANCH METROPOLITAN DISTRICT Weld County, Colorado GENERAL OBLIGATION REFUNDING &IMPROVEMENT BONDS, SERIES 2033 Service Plan Maturity Bond Component Date Amount Rate Yield Price Term Bond due 2063: 12/01/2034 135,000 3.000% 3.000% 100.000 12/01/2035 140,000 3.000% 3.000% 100.000 12/01/2036 195,000 3.000% 3.000% 100.000 12/01/2037 195,000 3.000% 3.000% 100.000 12/01/2038 255,000 3.000% 3.000% 100.000 12/01/2039 260,000 3.000% 3.000% 100.000 12/01/2040 330,000 3.000% 3.000% 100.000 12/01/2041 335,000 3.000% 3.000% 100.000 12/01/2042 405,000 3.000% 3.000% 100.000 12/01/2043 420,000 3.000% 3.000% 100.000 12/01/2044 495,000 3.000% 3.000% 100.000 12/01/2045 510,000 3.000% 3.000% 100.000 12/01/2046 595,000 3.000% 3.000% 100.000 12/01/2047 610,000 3.000% 3.000% 100.000 12/01/2048 700,000 3.000% 3.000% 100.000 12/01/2049 720,000 3.000% 3.000% 100.000 12/01/2050 820,000 3.000% 3.000% 100.000 12/01/2051 845,000 3.000% 3.000% 100.000 12/01/2052 955,000 3.000% 3.000% 100.000 12/01/2053 980,000 3.000% 3.000% 100.000 12/01/2054 1,100,000 3.000% 3.000% 100.000 12/01/2055 1,130,000 3.000% 3.000% 100.000 12/01/2056 1,260,000 3.000% 3.000% 100.000 12/01/2057 1,295,000 3.000% 3.000% 100.000 12/01/2058 1,435,000 3.000% 3.000% 100.000 12/01/2059 1,480,000 3.000% 3.000% 100.000 12/01/2060 1,630,000 3.000% 3.000% 100.000 12/01/2061 1,680,000 3.000% 3.000% 100.000 12/01/2062 1,840,000 3.000% 3.000% 100.000 12/01/2063 3,610,000 3.000% 3.000% 100.000 26,360,000 Dated Date 12/01/2033 Delivery Date 12/01/2033 First Coupon 06/01/2034 Par Amount 26,360,000.00 Original Issue Discount Production 26,360,000.00 100.000000% Underwriter's Discount (131,800.00) (0.500000%) Purchase Price 26,228,200.00 99.500000% Accrued Interest Net Proceeds 26,228,200.00 May 10,2023 3:51 pm Prepared by Piper Sandler Special District Group (Finance 8.901 Kiteley Ranch MD:D_51023-33R23,33R23) 16 NET DEBT SERVICE KITELEY RANCH METROPOLITAN DISTRICT Weld County, Colorado GENERAL OBLIGATION REFUNDING &IMPROVEMENT BONDS, SERIES 2033 Service Plan Period Total Debt Service Net Ending Principal Coupon Interest Debt Service Reserve Fund Debt Service 12/01/2034 135,000 3.000% 790,800 925,800 925,800 12/01/2035 140,000 3.000% 786,750 926,750 926,750 12/01/2036 195,000 3.000% 782,550 977,550 977,550 12/01/2037 195,000 3.000% 776,700 971,700 971,700 12/01/2038 255,000 3.000% 770,850 1,025,850 1,025,850 12/01/2039 260,000 3.000% 763,200 1,023,200 1,023,200 12/01/2040 330,000 3.000% 755,400 1,085,400 1,085,400 12/01/2041 335,000 3.000% 745,500 1,080,500 1,080,500 12/01/2042 405,000 3.000% 735,450 1,140,450 1,140,450 12/01/2043 420,000 3.000% 723,300 1,143,300 1,143,300 12/01/2044 495,000 3.000% 710,700 1,205,700 1,205,700 12/01/2045 510,000 3.000% 695,850 1,205,850 1,205,850 12/01/2046 595,000 3.000% 680,550 1,275,550 1,275,550 12/01/2047 610,000 3.000% 662,700 1,272,700 1,272,700 12/01/2048 700,000 3.000% 644,400 1,344,400 1,344,400 12/01/2049 720,000 3.000% 623,400 1,343,400 1,343,400 12/01/2050 820,000 3.000% 601,800 1,421,800 1,421,800 12/01/2051 845,000 3.000% 577,200 1,422,200 1,422,200 12/01/2052 955,000 3.000% 551,850 1,506,850 1,506,850 12/01/2053 980,000 3.000% 523,200 1,503,200 1,503,200 12/01/2054 1,100,000 3.000% 493,800 1,593,800 1,593,800 12/01/2055 1,130,000 3.000% 460,800 1,590,800 1,590,800 12/01/2056 1,260,000 3.000% 426,900 1,686,900 1,686,900 12/01/2057 1,295,000 3.000% 389,100 1,684,100 1,684,100 12/01/2058 1,435,000 3.000% 350,250 1,785,250 1,785,250 12/01/2059 1,480,000 3.000% 307,200 1,787,200 1,787,200 12/01/2060 1,630,000 3.000% 262,800 1,892,800 1,892,800 12/01/2061 1,680,000 3.000% 213,900 1,893,900 1,893,900 12/01/2062 1,840,000 3.000% 163,500 2,003,500 2,003,500 12/01/2063 3,610,000 3.000% 108,300 3,718,300 1,712,000 2,006,300 26,360,000 17,078,700 43,438,700 1,712,000 41,726,700 May 10,2023 3:51 pm Prepared by Piper Sandler Special District Group (Finance 8.901 Kiteley Ranch MD:D_51023-33R23,33R23) 17 BOND DEBT SERVICE KITELEY RANCH METROPOLITAN DISTRICT Weld County, Colorado GENERAL OBLIGATION REFUNDING & IMPROVEMENT BONDS, SERIES 2033 Service Plan Annual Period Debt Debt Ending Principal Coupon Interest Service Service 06/01/2034 395,400 395,400 12/01/2034 135,000 3.000% 395,400 530,400 925,800 06/01/2035 393,375 393,375 12/01/2035 140,000 3.000% 393,375 533,375 926,750 06/01/2036 391,275 391,275 12/01/2036 195,000 3.000% 391,275 586,275 977,550 06/01/2037 388,350 388,350 12/01/2037 195,000 3.000% 388,350 583,350 971,700 06/01/2038 385,425 385,425 12/01/2038 255,000 3.000% 385,425 640,425 1,025,850 06/01/2039 381,600 381,600 12/01/2039 260,000 3.000% 381,600 641,600 1,023,200 06/01/2040 377,700 377,700 12/01/2040 330,000 3.000% 377,700 707,700 1,085,400 06/01/2041 372,750 372,750 12/01/2041 335,000 3.000% 372,750 707,750 1,080,500 06/01/2042 367,725 367,725 12/01/2042 405,000 3.000% 367,725 772,725 1,140,450 06/01/2043 361,650 361,650 12/01/2043 420,000 3.000% 361,650 781,650 1,143,300 06/01/2044 355,350 355,350 12/01/2044 495,000 3.000% 355,350 850,350 1,205,700 06/01/2045 347,925 347,925 12/01/2045 510,000 3.000% 347,925 857,925 1,205,850 06/01/2046 340,275 340,275 12/01/2046 595,000 3.000% 340,275 935,275 1,275,550 06/01/2047 331,350 331,350 12/01/2047 610,000 3.000% 331,350 941,350 1,272,700 06/01/2048 322,200 322,200 12/01/2048 700,000 3.000% 322,200 1,022,200 1,344,400 06/01/2049 311,700 311,700 12/01/2049 720,000 3.000% 311,700 1,031,700 1,343,400 06/01/2050 300,900 300,900 12/01/2050 820,000 3.000% 300,900 1,120,900 1,421,800 06/01/2051 288,600 288,600 12/01/2051 845,000 3.000% 288,600 1,133,600 1,422,200 06/01/2052 275,925 275,925 12/01/2052 955,000 3.000% 275,925 1,230,925 1,506,850 06/01/2053 261,600 261,600 12/01/2053 980,000 3.000% 261,600 1,241,600 1,503,200 06/01/2054 246,900 246,900 12/01/2054 1,100,000 3.000% 246,900 1,346,900 1,593,800 06/01/2055 230,400 230,400 12/01/2055 1,130,000 3.000% 230,400 1,360,400 1,590,800 06/01/2056 213,450 213,450 12/01/2056 1,260,000 3.000% 213,450 1,473,450 1,686,900 06/01/2057 194,550 194,550 12/01/2057 1,295,000 3.000% 194,550 1,489,550 1,684,100 06/01/2058 175,125 175,125 12/01/2058 1,435,000 3.000% 175,125 1,610,125 1,785,250 06/01/2059 153,600 153,600 12/01/2059 1,480,000 3.000% 153,600 1,633,600 1,787,200 06/01/2060 131,400 131,400 12/01/2060 1,630,000 3.000% 131,400 1,761,400 1,892,800 06/01/2061 106,950 106,950 12/01/2061 1,680,000 3.000% 106,950 1,786,950 1,893,900 06/01/2062 81,750 81,750 12/01/2062 1,840,000 3.000% 81,750 1,921,750 2,003,500 06/01/2063 54,150 54,150 12/01/2063 3,610,000 3.000% 54,150 3,664,150 3,718,300 26,360,000 17,078,700 43,438,700 43,438,700 May 10,2023 3:51 pm Prepared by Piper Sandler Special District Group (Finance 8.901 Kiteley Ranch MD:D_51023-33R23,33R23) 18 CALL PROVISIONS KITELEY RANCH METROPOLITAN DISTRICT Weld County, Colorado GENERAL OBLIGATION REFUNDING &IMPROVEMENT BONDS, SERIES 2033 Service Plan Call Table: CALL Call Date Call Price 12/01/2043 103.00 12/01/2044 102.00 12/01/2045 101.00 12/01/2046 100.00 May 10,2023 3:51 pm Prepared by Piper Sandler Special District Group (Finance 8.901 Kiteley Ranch MD:D_51023-33R23,33R23) 19 SUMMARY OF BONDS REFUNDED KITELEY RANCH METROPOLITAN DISTRICT Weld County, Colorado GENERAL OBLIGATION REFUNDING &IMPROVEMENT BONDS, SERIES 2033 Service Plan Maturity Interest Par Call Call Bond Date Rate Amount Date Price Series 2023-Service Plan, 23,TERM53: 12/01/2034 5.000% 165,000 12/01/2033 100.000 12/01/2035 5.000% 175,000 12/01/2033 100.000 12/01/2036 5.000% 230,000 12/01/2033 100.000 12/01/2037 5.000% 240,000 12/01/2033 100.000 12/01/2038 5.000% 300,000 12/01/2033 100.000 12/01/2039 5.000% 315,000 12/01/2033 100.000 12/01/2040 5.000% 385,000 12/01/2033 100.000 12/01/2041 5.000% 405,000 12/01/2033 100.000 12/01/2042 5.000% 480,000 12/01/2033 100.000 12/01/2043 5.000% 505,000 12/01/2033 100.000 12/01/2044 5.000% 590,000 12/01/2033 100.000 12/01/2045 5.000% 620,000 12/01/2033 100.000 12/01/2046 5.000% 710,000 12/01/2033 100.000 12/01/2047 5.000% 745,000 12/01/2033 100.000 12/01/2048 5.000% 850,000 12/01/2033 100.000 12/01/2049 5.000% 895,000 12/01/2033 100.000 12/01/2050 5.000% 1,010,000 12/01/2033 100.000 12/01/2051 5.000% 1,060,000 12/01/2033 100.000 12/01/2052 5.000% 1,185,000 12/01/2033 100.000 12/01/2053 5.000% 1,245,000 12/01/2033 100.000 12,110,000 May 10,2023 3:51 pm Prepared by Piper Sandler Special District Group (Finance 8.901 Kiteley Ranch MD:D_51023-33R23,33R23) 20 ESCROW REQUIREMENTS KITELEY RANCH METROPOLITAN DISTRICT Weld County, Colorado GENERAL OBLIGATION REFUNDING &IMPROVEMENT BONDS, SERIES 2033 Service Plan Dated Date 12/01/2033 Delivery Date 12/01/2033 Period Principal Ending Redeemed Total 12/01/2033 12,110,000 12,110,000.00 12,110,000 12,110,000.00 May 10,2023 3:51 pm Prepared by Piper Sandler Special District Group (Finance 8.901 Kiteley Ranch MD:D_51023-33R23,33R23) 21 BOND SOLUTION KITELEY RANCH METROPOLITAN DISTRICT Weld County, Colorado GENERAL OBLIGATION REFUNDING &IMPROVEMENT BONDS, SERIES 2033 Service Plan Period Proposed Proposed Debt Service Total Adj Revenue Unused Debt Service Ending Principal Debt Service Adjustments Debt Service Constraints Revenues Coverage 12/01/2034 135,000 925,800 925,800 929,565 3,765 100.41% 12/01/2035 140,000 926,750 926,750 927,061 311 100.03% 12/01/2036 195,000 977,550 977,550 977,783 233 100.02% 12/01/2037 195,000 971,700 971,700 975,581 3,881 100.40% 12/01/2038 255,000 1,025,850 1,025,850 1,029,767 3,917 100.38% 12/01/2039 260,000 1,023,200 1,023,200 1,027,751 4,551 100.44% 12/01/2040 330,000 1,085,400 1,085,400 1,085,477 77 100.01% 12/01/2041 335,000 1,080,500 1,080,500 1,083,613 3,113 100.29% 12/01/2042 405,000 1,140,450 1,140,450 1,145,061 4,611 100.40% 12/01/2043 420,000 1,143,300 1,143,300 1,143,328 28 100.00% 12/01/2044 495,000 1,205,700 1,205,700 1,208,692 2,992 100.25% 12/01/2045 510,000 1,205,850 1,205,850 1,207,073 1,223 100.10% 12/01/2046 595,000 1,275,550 1,275,550 1,276,566 1,016 100.08% 12/01/2047 610,000 1,272,700 1,272,700 1,275,045 2,345 100.18% 12/01/2048 700,000 1,344,400 1,344,400 1,348,893 4,493 100.33% 12/01/2049 720,000 1,343,400 1,343,400 1,347,457 4,057 100.30% 12/01/2050 820,000 1,421,800 1,421,800 1,425,904 4,104 100.29% 12/01/2051 845,000 1,422,200 1,422,200 1,424,541 2,341 100.16% 12/01/2052 955,000 1,506,850 1,506,850 1,507,847 997 100.07% 12/01/2053 980,000 1,503,200 1,503,200 1,506,548 3,348 100.22% 12/01/2054 1,100,000 1,593,800 1,593,800 1,594,991 1,191 100.07% 12/01/2055 1,130,000 1,590,800 1,590,800 1,593,747 2,947 100.19% 12/01/2056 1,260,000 1,686,900 1,686,900 1,687,037 137 100.01% 12/01/2057 1,295,000 1,684,100 1,684,100 1,686,690 2,590 100.15% 12/01/2058 1,435,000 1,785,250 1,785,250 1,787,492 2,242 100.13% 12/01/2059 1,480,000 1,787,200 1,787,200 1,787,492 292 100.02% 12/01/2060 1,630,000 1,892,800 1,892,800 1,894,341 1,541 100.08% 12/01/2061 1,680,000 1,893,900 1,893,900 1,894,341 441 100.02% 12/01/2062 1,840,000 2,003,500 2,003,500 2,007,602 4,102 100.20% 12/01/2063 3,610,000 3,718,300 (1,712,000) 2,006,300 2,007,602 1,302 100.06% 26,360,000 43,438,700 (1,712,000) 41,726,700 41,794,888 68,188 May 10,2023 3:51 pm Prepared by Piper Sandler Special District Group (Finance 8.901 Kiteley Ranch MD:D_51023-33R23,33R23) 22 EXHIBIT G Ballot Questions 29 NO. OFFICIAL BALLOT FOR KITELEY RANCH METROPOLITAN DISTRICT, COUNTY OF WELD, STATE OF COLORADO November 7, 2023 Date of Election Facsimile of Signature of the Designated Election Official of the District 1. To vote,place a crossmark("X") in the box to the right of the name of each candidate and each ballot issue and ballot question. 2. After voting, fold the ballot so that your marks are concealed and place it in the secrecy envelope. This will ensure the secrecy of your ballot. 3. Place the secrecy envelope containing the ballot in the return verification envelope. Apply adequate postage or deliver by hand to the address printed below. 4. Complete the affirmation on the reverse of the return envelope. YOU MUST PROVIDE YOUR SIGNATURE in order for your ballot to be counted. "WARNING: Any person who, by use of force or other means, unduly influences an eligible elector to vote in any particular manner or to refrain from voting, or who falsely makes, alters, forges, or counterfeits any mail ballot before or after it has been cast, or who destroys, defaces, mutilates, or tampers with a ballot is subject, upon conviction, to imprisonment, or to a fine, or both." CONTINUE► BALLOT ISSUE 6A (Operations and Maintenance Mill Levy—Ad Valorem Taxes) SHALL KITELEY RANCH METROPOLITAN DISTRICT TAXES BE INCREASED $5,000,000 ANNUALLY, OR BY SUCH LESSER ANNUAL AMOUNT AS MAY BE NECESSARY TO PAY THE DISTRICT'S OPERATIONS, COVENANT ENFORCEMENT, DESIGN REVIEW, MAINTENANCE, AND OTHER EXPENSES: SUCH TAXES TO CONSIST OF AN AD VALOREM MILL LEVY IMPOSED ON ALL TAXABLE PROPERTY OF THE DISTRICT WITHOUT LIMITATION OF RATE OR WITH SUCH LIMITATIONS AS MAY BE DETERMINED BY THE DISTRICT BOARD OF DIRECTORS, AND IN AMOUNTS SUFFICIENT TO PRODUCE THE ANNUAL INCREASE SET FORTH ABOVE OR SUCH LESSER AMOUNT AS MAY BE NECESSARY, TO BE USED FOR THE PURPOSE OF PAYING THE DISTRICT'S OPERATIONS, COVENANT ENFORCEMENT, DESIGN REVIEW, MAINTENANCE, AND OTHER EXPENSES; AND SHALL THE PROCEEDS OF SUCH TAXES AND INVESTMENT INCOME THEREON BE COLLECTED AND SPENT BY THE DISTRICT AS A VOTER-APPROVED REVENUE CHANGE IN 2023 AND IN EACH YEAR THEREAFTER, WITHOUT REGARD TO ANY SPENDING, REVENUE-RAISING, OR OTHER LIMITATION CONTAINED WITHIN ARTICLE X, SECTION 20 OF THE COLORADO CONSTITUTION, OR SECTION 29-1-301, COLORADO REVISED STATUTES, AND WITHOUT LIMITING IN ANY YEAR THE AMOUNT OF OTHER REVENUES THAT MAY BE COLLECTED AND SPENT BY THE DISTRICT? YES: NO: BALLOT ISSUE 6B (Multiple Fiscal Year IGA Mill Levy Question) SHALL KITELEY RANCH METROPOLITAN DISTRICT TAXES BE INCREASED $5,000,000 ANNUALLY OR SUCH LESSER AMOUNT AS NECESSARY FOR THE PAYMENT OF SUCH AMOUNTS DUE PURSUANT TO ONE OR MORE INTERGOVERNMENTAL AGREEMENTS OR OTHER CONTRACTS, BY THE IMPOSITION OF AD VALOREM PROPERTY TAXES LEVIED IN ANY YEAR, WITHOUT LIMITATION AS TO RATE OR AMOUNT OR ANY OTHER CONDITION FOR THE PAYMENT OF SUCH AMOUNTS DUE, OR WITH SUCH LIMITATIONS AS MAY BE DETERMINED BY THE DISTRICT BOARD OF DIRECTORS, AND SHALL THE PROCEEDS OF SUCH TAXES AND ANY INVESTMENT INCOME THEREON BE COLLECTED, RETAINED AND SPENT BY THE DISTRICT IN FISCAL YEAR 2020 AND IN EACH FISCAL YEAR THEREAFTER AS A VOTER-APPROVED REVENUE CHANGE WITHOUT REGARD TO ANY SPENDING, REVENUE-RAISING, OR OTHER LIMITATION CONTAINED WITHIN ARTICLE X, SECTION 20 OF THE COLORADO CONSTITUTION, THE LIMITS IMPOSED ON INCREASES IN PROPERTY TAXATION BY SECTION 29-1-301, C.R.S. IN ANY YEAR, OR ANY OTHER LAW WHICH PURPORTS TO LIMIT THE DISTRICT'S REVENUES OR EXPENDITURES AS IT CURRENTLY EXISTS OR AS IT MAY BE AMENDED IN THE FUTURE, ALL WITHOUT LIMITING IN CONTINUE► ANY YEAR THE AMOUNT OF OTHER REVENUES THAT MAY BE COLLECTED, RETAINED AND SPENT BY THE DISTRICT? YES: NO: BALLOT ISSUE 6C (TABOR Exemption -Non-Ad Valorem Tax Revenues) SHALL KITELEY RANCH METROPOLITAN DISTRICT BE AUTHORIZED TO COLLECT, RETAIN, AND SPEND ANY AND ALL AMOUNTS ANNUALLY FROM ANY REVENUE SOURCES WHATSOEVER OTHER THAN AD VALOREM TAXES, INCLUDING BUT NOT LIMITED TO TAP FEES, FACILITY FEES, SERVICE CHARGES, INSPECTION CHARGES, ADMINISTRATIVE CHARGES, GRANTS, OR ANY OTHER FEE, RATE, TOLL, PENALTY, INCOME, OR CHARGE IMPOSED, COLLECTED, OR AUTHORIZED BY LAW TO BE IMPOSED OR COLLECTED BY THE DISTRICT, AND SHALL SUCH REVENUES BE COLLECTED AND SPENT BY THE DISTRICT AS A VOTER-APPROVED REVENUE CHANGE WITHOUT REGARD TO ANY SPENDING, REVENUE-RAISING, OR OTHER LIMITATION CONTAINED WITHIN ARTICLE X, SECTION 20 OF THE COLORADO CONSTITUTION, AND WITHOUT LIMITING IN ANY YEAR THE AMOUNT OF OTHER REVENUES THAT MAY BE COLLECTED AND SPENT BY THE DISTRICT? YES: NO: BALLOT ISSUE 6D (Water) SHALL KITELEY RANCH METROPOLITAN DISTRICT DEBT BE INCREASED $30,000,000, WITH A REPAYMENT COST OF $165,000,000; AND SHALL KITELEY RANCH METROPOLITAN DISTRICT TAXES BE INCREASED $165,000,000 ANNUALLY, OR BY SUCH LESSER ANNUAL AMOUNT AS MAY BE NECESSARY TO PAY THE DISTRICT'S DEBT: SUCH DEBT TO CONSIST OF GENERAL OBLIGATION BONDS, SPECIAL ASSESSMENT BONDS, OR OTHER OBLIGATIONS, INCLUDING CONTRACTS, ISSUED OR INCURRED FOR THE PURPOSE OF PAYING, REIMBURSING, OR FINANCING ALL OR ANY PART OF THE COSTS OF ACQUIRING, CONSTRUCTING, RELOCATING, INSTALLING, COMPLETING, AND OTHERWISE PROVIDING, WITHIN OR WITHOUT THE BOUNDARIES OF THE DISTRICT, A COMPLETE POTABLE AND NON-POTABLE WATER SUPPLY, STORAGE, TRANSMISSION, AND DISTRIBUTION SYSTEM, INCLUDING BUT NOT LIMITED TO TRANSMISSION LINES, DISTRIBUTION MAINS AND LATERALS, IRRIGATION FACILITIES, AND STORAGE FACILITIES, TOGETHER WITH ALL NECESSARY, INCIDENTAL, AND APPURTENANT FACILITIES, EQUIPMENT, LAND, AND EASEMENTS, AND EXTENSIONS OF AND IMPROVEMENTS TO SAID FACILITIES, SUCH DEBT TO BEAR INTEREST AT A NET EFFECTIVE INTEREST RATE NOT IN EXCESS OF 15% PER ANNUM, SUCH INTEREST TO BE PAYABLE AT SUCH TIME OR TIMES AND WHICH MAY COMPOUND PERIODICALLY AS MAY BE DETERMINED CONTINUE► BY THE DISTRICT BOARD OF DIRECTORS, SUCH DEBT TO BE SOLD AT ONE TIME OR FROM TIME TO TIME IN ONE SERIES OR MORE AT A PRICE ABOVE, BELOW, OR EQUAL TO THE PRINCIPAL AMOUNT OF SUCH DEBT AND ON SUCH TERMS AND CONDITIONS AS THE DISTRICT BOARD OF DIRECTORS MAY DETERMINE, INCLUDING PROVISIONS FOR REDEMPTION OF THE DEBT PRIOR TO MATURITY WITH OR WITHOUT PAYMENT OF PREMIUM IN AN AMOUNT DETERMINED BY THE DISTRICT BOARD OF DIRECTORS, SUCH DEBT TO BE PAID FROM ANY LEGALLY AVAILABLE MONEYS OF THE DISTRICT, INCLUDING SPECIAL ASSESSMENTS OR THE PROCEEDS OF AD VALOREM PROPERTY TAXES; SUCH TAXES TO CONSIST OF SPECIAL ASSESSMENTS OR AN AD VALOREM MILL LEVY IMPOSED ON ALL TAXABLE PROPERTY OF THE DISTRICT, WITHOUT LIMITATION OF RATE OR WITH SUCH LIMITATIONS AS MAY BE DETERMINED BY THE DISTRICT BOARD OF DIRECTORS, AND IN AMOUNTS SUFFICIENT TO PRODUCE THE ANNUAL INCREASE SET FORTH ABOVE OR SUCH LESSER AMOUNT AS MAY BE NECESSARY, TO BE USED SOLELY FOR THE PURPOSE OF PAYING THE PRINCIPAL OF, PREMIUM IF ANY, AND INTEREST ON THE DISTRICT'S DEBT; AND SHALL THE PROCEEDS OF ANY SUCH DEBT AND THE PROCEEDS OF SUCH TAXES, ANY OTHER REVENUE USED TO PAY SUCH DEBT, AND INVESTMENT INCOME THEREON, BE COLLECTED AND SPENT BY THE DISTRICT AS A VOTER-APPROVED REVENUE CHANGE, WITHOUT REGARD TO ANY SPENDING, REVENUE-RAISING, OR OTHER LIMITATION CONTAINED WITHIN ARTICLE X, SECTION 20 OF THE COLORADO CONSTITUTION, AND WITHOUT LIMITING IN ANY YEAR THE AMOUNT OF OTHER REVENUES THAT MAY BE COLLECTED AND SPENT BY THE DISTRICT? YES: NO: BALLOT ISSUE 6E (Sanitation) SHALL KITELEY RANCH METROPOLITAN DISTRICT DEBT BE INCREASED $30,000,000, WITH A REPAYMENT COST OF $165,000,000; AND SHALL KITELEY RANCH METROPOLITAN DISTRICT TAXES BE INCREASED $165,000,000 ANNUALLY, OR BY SUCH LESSER ANNUAL AMOUNT AS MAY BE NECESSARY TO PAY THE DISTRICT'S DEBT: SUCH DEBT TO CONSIST OF GENERAL OBLIGATION BONDS, SPECIAL ASSESSMENT BONDS, OR OTHER OBLIGATIONS, INCLUDING CONTRACTS, ISSUED OR INCURRED FOR THE PURPOSE OF PAYING, REIMBURSING, OR FINANCING ALL OR ANY PART OF THE COSTS OF ACQUIRING, CONSTRUCTING, RELOCATING, INSTALLING, COMPLETING, AND OTHERWISE PROVIDING, WITHIN OR WITHOUT THE BOUNDARIES OF THE DISTRICT, A COMPLETE LOCAL SANITARY SEWAGE COLLECTION AND TRANSMISSION SYSTEM, INCLUDING BUT NOT LIMITED TO COLLECTION MAINS AND LATERALS, TRANSMISSION LINES, TREATMENT FACILITIES, STORM SEWER, FLOOD, AND SURFACE DRAINAGE FACILITIES AND SYSTEMS, SOLID WASTE DISPOSAL FACILITIES OR WASTE SERVICES, AND DETENTION AND RETENTION PONDS, TOGETHER WITH ALL NECESSARY, INCIDENTAL, AND APPURTENANT FACILITIES, EQUIPMENT, LAND, AND EASEMENTS, AND EXTENSIONS OF AND IMPROVEMENTS TO SAID FACILITIES, SUCH DEBT TO BEAR INTEREST AT A NET CONTINUE► EFFECTIVE INTEREST RATE NOT IN EXCESS OF 15% PER ANNUM, SUCH INTEREST TO BE PAYABLE AT SUCH TIME OR TIMES AND WHICH MAY COMPOUND PERIODICALLY AS MAY BE DETERMINED BY THE DISTRICT BOARD OF DIRECTORS, SUCH DEBT TO BE SOLD AT ONE TIME OR FROM TIME TO TIME IN ONE SERIES OR MORE AT A PRICE ABOVE, BELOW, OR EQUAL TO THE PRINCIPAL AMOUNT OF SUCH DEBT AND ON SUCH TERMS AND CONDITIONS AS THE DISTRICT BOARD OF DIRECTORS MAY DETERMINE, INCLUDING PROVISIONS FOR REDEMPTION OF THE DEBT PRIOR TO MATURITY WITH OR WITHOUT PAYMENT OF PREMIUM IN AN AMOUNT DETERMINED BY THE DISTRICT BOARD OF DIRECTORS, SUCH DEBT TO BE PAID FROM ANY LEGALLY AVAILABLE MONEYS OF THE DISTRICT, INCLUDING SPECIAL ASSESSMENTS OR THE PROCEEDS OF AD VALOREM PROPERTY TAXES; SUCH TAXES TO CONSIST OF SPECIAL ASSESSMENTS OR AN AD VALOREM MILL LEVY IMPOSED ON ALL TAXABLE PROPERTY OF THE DISTRICT, WITHOUT LIMITATION OF RATE OR WITH SUCH LIMITATIONS AS MAY BE DETERMINED BY THE DISTRICT BOARD OF DIRECTORS, AND IN AMOUNTS SUFFICIENT TO PRODUCE THE ANNUAL INCREASE SET FORTH ABOVE OR SUCH LESSER AMOUNT AS MAY BE NECESSARY, TO BE USED SOLELY FOR THE PURPOSE OF PAYING THE PRINCIPAL OF, PREMIUM IF ANY, AND INTEREST ON THE DISTRICT'S DEBT; AND SHALL THE PROCEEDS OF ANY SUCH DEBT AND THE PROCEEDS OF SUCH TAXES, ANY OTHER REVENUE USED TO PAY SUCH DEBT, AND INVESTMENT INCOME THEREON, BE COLLECTED AND SPENT BY THE DISTRICT AS A VOTER-APPROVED REVENUE CHANGE, WITHOUT REGARD TO ANY SPENDING, REVENUE-RAISING, OR OTHER LIMITATION CONTAINED WITHIN ARTICLE X, SECTION 20 OF THE COLORADO CONSTITUTION, AND WITHOUT LIMITING IN ANY YEAR THE AMOUNT OF OTHER REVENUES THAT MAY BE COLLECTED AND SPENT BY THE DISTRICT? YES: NO: BALLOT ISSUE 6F (Streets) SHALL KITELEY RANCH METROPOLITAN DISTRICT DEBT BE INCREASED $30,000,000, WITH A REPAYMENT COST OF $165,000,000; AND SHALL KITELEY RANCH METROPOLITAN DISTRICT TAXES BE INCREASED $165,000,000 ANNUALLY, OR BY SUCH LESSER ANNUAL AMOUNT AS MAY BE NECESSARY TO PAY THE DISTRICT'S DEBT: SUCH DEBT TO CONSIST OF GENERAL OBLIGATION BONDS, SPECIAL ASSESSMENT BONDS, OR OTHER OBLIGATIONS, INCLUDING CONTRACTS, ISSUED OR INCURRED FOR THE PURPOSE OF PAYING, REIMBURSING, OR FINANCING ALL OR ANY PART OF THE COSTS OF ACQUIRING, CONSTRUCTING, RELOCATING, INSTALLING, COMPLETING, AND OTHERWISE PROVIDING, WITHIN OR WITHOUT THE BOUNDARIES OF THE DISTRICT, STREET IMPROVEMENTS INCLUDING BUT NOT LIMITED TO CURBS, GUTTERS, CULVERTS, OTHER DRAINAGE FACILITIES, SIDEWALKS, BRIDGES, PARKING FACILITIES, PAVING, LIGHTING, GRADING, LANDSCAPING, AND OTHER STREET IMPROVEMENTS, TOGETHER WITH ALL NECESSARY, INCIDENTAL, AND APPURTENANT FACILITIES, EQUIPMENT, LAND, AND EASEMENTS, AND CONTINUE► EXTENSIONS OF AND IMPROVEMENTS TO SAID FACILITIES, SUCH DEBT TO BEAR INTEREST AT A NET EFFECTIVE INTEREST RATE NOT IN EXCESS OF 15% PER ANNUM, SUCH INTEREST TO BE PAYABLE AT SUCH TIME OR TIMES AND WHICH MAY COMPOUND PERIODICALLY AS MAY BE DETERMINED BY THE DISTRICT BOARD OF DIRECTORS, SUCH DEBT TO BE SOLD AT ONE TIME OR FROM TIME TO TIME IN ONE SERIES OR MORE AT A PRICE ABOVE, BELOW, OR EQUAL TO THE PRINCIPAL AMOUNT OF SUCH DEBT AND ON SUCH TERMS AND CONDITIONS AS THE DISTRICT BOARD OF DIRECTORS MAY DETERMINE, INCLUDING PROVISIONS FOR REDEMPTION OF THE DEBT PRIOR TO MATURITY WITH OR WITHOUT PAYMENT OF PREMIUM IN AN AMOUNT DETERMINED BY THE DISTRICT BOARD OF DIRECTORS, SUCH DEBT TO BE PAID FROM ANY LEGALLY AVAILABLE MONEYS OF THE DISTRICT, INCLUDING SPECIAL ASSESSMENTS OR THE PROCEEDS OF AD VALOREM PROPERTY TAXES; SUCH TAXES TO CONSIST OF SPECIAL ASSESSMENTS OR AN AD VALOREM MILL LEVY IMPOSED ON ALL TAXABLE PROPERTY OF THE DISTRICT, WITHOUT LIMITATION OF RATE OR WITH SUCH LIMITATIONS AS MAY BE DETERMINED BY THE DISTRICT BOARD OF DIRECTORS, AND IN AMOUNTS SUFFICIENT TO PRODUCE THE ANNUAL INCREASE SET FORTH ABOVE OR SUCH LESSER AMOUNT AS MAY BE NECESSARY, TO BE USED SOLELY FOR THE PURPOSE OF PAYING THE PRINCIPAL OF, PREMIUM IF ANY, AND INTEREST ON THE DISTRICT'S DEBT; AND SHALL THE PROCEEDS OF ANY SUCH DEBT AND THE PROCEEDS OF SUCH TAXES, ANY OTHER REVENUE USED TO PAY SUCH DEBT, AND INVESTMENT INCOME THEREON, BE COLLECTED AND SPENT BY THE DISTRICT AS A VOTER-APPROVED REVENUE CHANGE, WITHOUT REGARD TO ANY SPENDING, REVENUE-RAISING, OR OTHER LIMITATION CONTAINED WITHIN ARTICLE X, SECTION 20 OF THE COLORADO CONSTITUTION, AND WITHOUT LIMITING IN ANY YEAR THE AMOUNT OF OTHER REVENUES THAT MAY BE COLLECTED AND SPENT BY THE DISTRICT? YES: NO: BALLOT ISSUE 6G (Safety Protection) SHALL KITELEY RANCH METROPOLITAN DISTRICT DEBT BE INCREASED $30,000,000, WITH A REPAYMENT COST OF $165,000,000; AND SHALL KITELEY RANCH METROPOLITAN DISTRICT TAXES BE INCREASED $165,000,000 ANNUALLY, OR BY SUCH LESSER ANNUAL AMOUNT AS MAY BE NECESSARY TO PAY THE DISTRICT'S DEBT: SUCH DEBT TO CONSIST OF GENERAL OBLIGATION BONDS, SPECIAL ASSESSMENT BONDS, OR OTHER OBLIGATIONS, INCLUDING CONTRACTS, ISSUED OR INCURRED FOR THE PURPOSE OF PAYING, REIMBURSING, OR FINANCING ALL OR ANY PART OF THE COSTS OF ACQUIRING, CONSTRUCTING, RELOCATING, INSTALLING, COMPLETING, AND OTHERWISE PROVIDING, WITHIN OR WITHOUT THE BOUNDARIES OF THE DISTRICT, A SYSTEM OF TRAFFIC AND SAFETY CONTROLS AND DEVICES ON STREETS AND HIGHWAYS AND AT RAILROAD CROSSINGS, INCLUDING BUT NOT LIMITED TO TRAFFIC SIGNALS, TOGETHER WITH ALL NECESSARY, INCIDENTAL, AND APPURTENANT FACILITIES, EQUIPMENT, LAND, AND EASEMENTS, AND EXTENSIONS OF AND CONTINUE► IMPROVEMENTS TO SAID FACILITIES, SUCH DEBT TO BEAR INTEREST AT A NET EFFECTIVE INTEREST RATE NOT IN EXCESS OF 15% PER ANNUM, SUCH INTEREST TO BE PAYABLE AT SUCH TIME OR TIMES AND WHICH MAY COMPOUND PERIODICALLY AS MAY BE DETERMINED BY THE DISTRICT BOARD OF DIRECTORS, SUCH DEBT TO BE SOLD AT ONE TIME OR FROM TIME TO TIME IN ONE SERIES OR MORE AT A PRICE ABOVE, BELOW, OR EQUAL TO THE PRINCIPAL AMOUNT OF SUCH DEBT AND ON SUCH TERMS AND CONDITIONS AS THE DISTRICT BOARD OF DIRECTORS MAY DETERMINE, INCLUDING PROVISIONS FOR REDEMPTION OF THE DEBT PRIOR TO MATURITY WITH OR WITHOUT PAYMENT OF PREMIUM IN AN AMOUNT DETERMINED BY THE DISTRICT BOARD OF DIRECTORS, SUCH DEBT TO BE PAID FROM ANY LEGALLY AVAILABLE MONEYS OF THE DISTRICT, INCLUDING SPECIAL ASSESSMENTS OR THE PROCEEDS OF AD VALOREM PROPERTY TAXES; SUCH TAXES TO CONSIST OF SPECIAL ASSESSMENTS OR AN AD VALOREM MILL LEVY IMPOSED ON ALL TAXABLE PROPERTY OF THE DISTRICT, WITHOUT LIMITATION OF RATE OR WITH SUCH LIMITATIONS AS MAY BE DETERMINED BY THE DISTRICT BOARD OF DIRECTORS, AND IN AMOUNTS SUFFICIENT TO PRODUCE THE ANNUAL INCREASE SET FORTH ABOVE OR SUCH LESSER AMOUNT AS MAY BE NECESSARY, TO BE USED SOLELY FOR THE PURPOSE OF PAYING THE PRINCIPAL OF, PREMIUM IF ANY, AND INTEREST ON THE DISTRICT'S DEBT; AND SHALL THE PROCEEDS OF ANY SUCH DEBT AND THE PROCEEDS OF SUCH TAXES, ANY OTHER REVENUE USED TO PAY SUCH DEBT, AND INVESTMENT INCOME THEREON, BE COLLECTED AND SPENT BY THE DISTRICT AS A VOTER-APPROVED REVENUE CHANGE, WITHOUT REGARD TO ANY SPENDING, REVENUE-RAISING, OR OTHER LIMITATION CONTAINED WITHIN ARTICLE X, SECTION 20 OF THE COLORADO CONSTITUTION, AND WITHOUT LIMITING IN ANY YEAR THE AMOUNT OF OTHER REVENUES THAT MAY BE COLLECTED AND SPENT BY THE DISTRICT? YES: NO: BALLOT ISSUE 6H (Parks and Recreation) SHALL KITELEY RANCH METROPOLITAN DISTRICT DEBT BE INCREASED $30,000,000, WITH A REPAYMENT COST OF $165,000,000; AND SHALL KITELEY RANCH METROPOLITAN DISTRICT TAXES BE INCREASED $165,000,000 ANNUALLY, OR BY SUCH LESSER ANNUAL AMOUNT AS MAY BE NECESSARY TO PAY THE DISTRICT'S DEBT: SUCH DEBT TO CONSIST OF GENERAL OBLIGATION BONDS, SPECIAL ASSESSMENT BONDS, OR OTHER OBLIGATIONS, INCLUDING CONTRACTS, ISSUED OR INCURRED FOR THE PURPOSE OF PAYING, REIMBURSING, OR FINANCING ALL OR ANY PART OF THE COSTS OF ACQUIRING, CONSTRUCTING, RELOCATING, INSTALLING, COMPLETING, AND OTHERWISE PROVIDING, WITHIN OR WITHOUT THE BOUNDARIES OF THE DISTRICT, PARKS AND RECREATIONAL FACILITIES, IMPROVEMENTS, AND PROGRAMS, INCLUDING BUT NOT LIMITED TO PARKS, BIKE PATHS AND PEDESTRIAN WAYS, OPEN SPACE, LANDSCAPING, CULTURAL FACILITIES, COMMUNITY RECREATION CENTERS, WATER BODIES, IRRIGATION FACILITIES, AND OTHER ACTIVE AND PASSIVE CONTINUE► RECREATION FACILITIES AND PROGRAMS, TOGETHER WITH ALL NECESSARY, INCIDENTAL, AND APPURTENANT FACILITIES, EQUIPMENT, LAND, AND EASEMENTS, AND EXTENSIONS OF AND IMPROVEMENTS TO SAID FACILITIES, SUCH DEBT TO BEAR INTEREST AT A NET EFFECTIVE INTEREST RATE NOT IN EXCESS OF 15% PER ANNUM, SUCH INTEREST TO BE PAYABLE AT SUCH TIME OR TIMES AND WHICH MAY COMPOUND PERIODICALLY AS MAY BE DETERMINED BY THE DISTRICT BOARD OF DIRECTORS, SUCH DEBT TO BE SOLD AT ONE TIME OR FROM TIME TO TIME IN ONE SERIES OR MORE AT A PRICE ABOVE, BELOW, OR EQUAL TO THE PRINCIPAL AMOUNT OF SUCH DEBT AND ON SUCH TERMS AND CONDITIONS AS THE DISTRICT BOARD OF DIRECTORS MAY DETERMINE, INCLUDING PROVISIONS FOR REDEMPTION OF THE DEBT PRIOR TO MATURITY WITH OR WITHOUT PAYMENT OF PREMIUM IN AN AMOUNT DETERMINED BY THE DISTRICT BOARD OF DIRECTORS, SUCH DEBT TO BE PAID FROM ANY LEGALLY AVAILABLE MONEYS OF THE DISTRICT, INCLUDING SPECIAL ASSESSMENTS OR THE PROCEEDS OF AD VALOREM PROPERTY TAXES; SUCH TAXES TO CONSIST OF SPECIAL ASSESSMENTS OR AN AD VALOREM MILL LEVY IMPOSED ON ALL TAXABLE PROPERTY OF THE DISTRICT, WITHOUT LIMITATION OF RATE OR WITH SUCH LIMITATIONS AS MAY BE DETERMINED BY THE DISTRICT BOARD OF DIRECTORS, AND IN AMOUNTS SUFFICIENT TO PRODUCE THE ANNUAL INCREASE SET FORTH ABOVE OR SUCH LESSER AMOUNT AS MAY BE NECESSARY, TO BE USED SOLELY FOR THE PURPOSE OF PAYING THE PRINCIPAL OF, PREMIUM IF ANY, AND INTEREST ON THE DISTRICT'S DEBT; AND SHALL THE PROCEEDS OF ANY SUCH DEBT AND THE PROCEEDS OF SUCH TAXES, ANY OTHER REVENUE USED TO PAY SUCH DEBT, AND INVESTMENT INCOME THEREON, BE COLLECTED AND SPENT BY THE DISTRICT AS A VOTER-APPROVED REVENUE CHANGE, WITHOUT REGARD TO ANY SPENDING, REVENUE-RAISING, OR OTHER LIMITATION CONTAINED WITHIN ARTICLE X, SECTION 20 OF THE COLORADO CONSTITUTION, AND WITHOUT LIMITING IN ANY YEAR THE AMOUNT OF OTHER REVENUES THAT MAY BE COLLECTED AND SPENT BY THE DISTRICT? YES: NO: BALLOT ISSUE 6I (Transportation) SHALL KITELEY RANCH METROPOLITAN DISTRICT DEBT BE INCREASED $30,000,000, WITH A REPAYMENT COST OF $165,000,000; AND SHALL KITELEY RANCH METROPOLITAN DISTRICT TAXES BE INCREASED $165,000,000 ANNUALLY, OR BY SUCH LESSER ANNUAL AMOUNT AS MAY BE NECESSARY TO PAY THE DISTRICT'S DEBT: SUCH DEBT TO CONSIST OF GENERAL OBLIGATION BONDS, SPECIAL ASSESSMENT BONDS, OR OTHER OBLIGATIONS, INCLUDING CONTRACTS, ISSUED OR INCURRED FOR THE PURPOSE OF PAYING, REIMBURSING, OR FINANCING ALL OR ANY PART OF THE COSTS OF ACQUIRING, CONSTRUCTING, RELOCATING, INSTALLING, COMPLETING, AND OTHERWISE PROVIDING, WITHIN OR WITHOUT THE BOUNDARIES OF THE DISTRICT, A SYSTEM TO TRANSPORT THE PUBLIC BY BUS, RAIL, OR ANY OTHER MEANS OF CONVEYANCE, OR ANY COMBINATION THEREOF, INCLUDING BUT NOT LIMITED CONTINUE► TO PUBLIC TRANSPORTATION SYSTEM IMPROVEMENTS, TRANSPORTATION EQUIPMENT, PARK AND RIDE FACILITIES, PUBLIC PARKING LOTS, STRUCTURES, ROOFS, COVERS, AND FACILITIES, TOGETHER WITH ALL NECESSARY, INCIDENTAL, AND APPURTENANT FACILITIES, EQUIPMENT, LAND, AND EASEMENTS, AND EXTENSIONS OF AND IMPROVEMENTS TO SAID FACILITIES, SUCH DEBT TO BEAR INTEREST AT A NET EFFECTIVE INTEREST RATE NOT IN EXCESS OF 15% PER ANNUM, SUCH INTEREST TO BE PAYABLE AT SUCH TIME OR TIMES AND WHICH MAY COMPOUND PERIODICALLY AS MAY BE DETERMINED BY THE DISTRICT BOARD OF DIRECTORS, SUCH DEBT TO BE SOLD AT ONE TIME OR FROM TIME TO TIME IN ONE SERIES OR MORE AT A PRICE ABOVE, BELOW, OR EQUAL TO THE PRINCIPAL AMOUNT OF SUCH DEBT AND ON SUCH TERMS AND CONDITIONS AS THE DISTRICT BOARD OF DIRECTORS MAY DETERMINE, INCLUDING PROVISIONS FOR REDEMPTION OF THE DEBT PRIOR TO MATURITY WITH OR WITHOUT PAYMENT OF PREMIUM IN AN AMOUNT DETERMINED BY THE DISTRICT BOARD OF DIRECTORS, SUCH DEBT TO BE PAID FROM ANY LEGALLY AVAILABLE MONEYS OF THE DISTRICT, INCLUDING SPECIAL ASSESSMENTS OR THE PROCEEDS OF AD VALOREM PROPERTY TAXES; SUCH TAXES TO CONSIST OF SPECIAL ASSESSMENTS OR AN AD VALOREM MILL LEVY IMPOSED ON ALL TAXABLE PROPERTY OF THE DISTRICT, WITHOUT LIMITATION OF RATE OR WITH SUCH LIMITATIONS AS MAY BE DETERMINED BY THE DISTRICT BOARD OF DIRECTORS, AND IN AMOUNTS SUFFICIENT TO PRODUCE THE ANNUAL INCREASE SET FORTH ABOVE OR SUCH LESSER AMOUNT AS MAY BE NECESSARY, TO BE USED SOLELY FOR THE PURPOSE OF PAYING THE PRINCIPAL OF, PREMIUM IF ANY, AND INTEREST ON THE DISTRICT'S DEBT; AND SHALL THE PROCEEDS OF ANY SUCH DEBT AND THE PROCEEDS OF SUCH TAXES, ANY OTHER REVENUE USED TO PAY SUCH DEBT, AND INVESTMENT INCOME THEREON, BE COLLECTED AND SPENT BY THE DISTRICT AS A VOTER-APPROVED REVENUE CHANGE, WITHOUT REGARD TO ANY SPENDING, REVENUE-RAISING, OR OTHER LIMITATION CONTAINED WITHIN ARTICLE X, SECTION 20 OF THE COLORADO CONSTITUTION, AND WITHOUT LIMITING IN ANY YEAR THE AMOUNT OF OTHER REVENUES THAT MAY BE COLLECTED AND SPENT BY THE DISTRICT? YES: NO: BALLOT ISSUE 6J (Television Relay and Translation) SHALL KITELEY RANCH METROPOLITAN DISTRICT DEBT BE INCREASED $30,000,000, WITH A REPAYMENT COST OF $165,000,000; AND SHALL KITELEY RANCH METROPOLITAN DISTRICT TAXES BE INCREASED $165,000,000 ANNUALLY, OR BY SUCH LESSER ANNUAL AMOUNT AS MAY BE NECESSARY TO PAY THE DISTRICT'S DEBT: SUCH DEBT TO CONSIST OF GENERAL OBLIGATION BONDS, SPECIAL ASSESSMENT BONDS, OR OTHER OBLIGATIONS, INCLUDING CONTRACTS, ISSUED OR INCURRED FOR THE PURPOSE OF PAYING, REIMBURSING, OR FINANCING ALL OR ANY PART OF THE COSTS OF ACQUIRING, CONSTRUCTING, RELOCATING, INSTALLING, COMPLETING, AND OTHERWISE PROVIDING, WITHIN OR WITHOUT THE BOUNDARIES OF THE DISTRICT, CONTINUE► TELEVISION RELAY AND TRANSLATION SYSTEM IMPROVEMENTS, INCLUDING BUT NOT LIMITED TO EQUIPMENT, FACILITIES, AND STRUCTURES, TOGETHER WITH ALL NECESSARY, INCIDENTAL, AND APPURTENANT FACILITIES, EQUIPMENT, LAND, AND EASEMENTS, AND EXTENSIONS OF AND IMPROVEMENTS TO SAID FACILITIES, SUCH DEBT TO BEAR INTEREST AT A NET EFFECTIVE INTEREST RATE NOT IN EXCESS OF 15% PER ANNUM, SUCH INTEREST TO BE PAYABLE AT SUCH TIME OR TIMES AND WHICH MAY COMPOUND PERIODICALLY AS MAY BE DETERMINED BY THE DISTRICT BOARD OF DIRECTORS, SUCH DEBT TO BE SOLD AT ONE TIME OR FROM TIME TO TIME IN ONE SERIES OR MORE AT A PRICE ABOVE, BELOW, OR EQUAL TO THE PRINCIPAL AMOUNT OF SUCH DEBT AND ON SUCH TERMS AND CONDITIONS AS THE DISTRICT BOARD OF DIRECTORS MAY DETERMINE, INCLUDING PROVISIONS FOR REDEMPTION OF THE DEBT PRIOR TO MATURITY WITH OR WITHOUT PAYMENT OF PREMIUM IN AN AMOUNT DETERMINED BY THE DISTRICT BOARD OF DIRECTORS, SUCH DEBT TO BE PAID FROM ANY LEGALLY AVAILABLE MONEYS OF THE DISTRICT, INCLUDING SPECIAL ASSESSMENTS OR THE PROCEEDS OF AD VALOREM PROPERTY TAXES; SUCH TAXES TO CONSIST OF SPECIAL ASSESSMENTS OR AN AD VALOREM MILL LEVY IMPOSED ON ALL TAXABLE PROPERTY OF THE DISTRICT, WITHOUT LIMITATION OF RATE OR WITH SUCH LIMITATIONS AS MAY BE DETERMINED BY THE DISTRICT BOARD OF DIRECTORS, AND IN AMOUNTS SUFFICIENT TO PRODUCE THE ANNUAL INCREASE SET FORTH ABOVE OR SUCH LESSER AMOUNT AS MAY BE NECESSARY, TO BE USED SOLELY FOR THE PURPOSE OF PAYING THE PRINCIPAL OF, PREMIUM IF ANY, AND INTEREST ON THE DISTRICT'S DEBT; AND SHALL THE PROCEEDS OF ANY SUCH DEBT AND THE PROCEEDS OF SUCH TAXES, ANY OTHER REVENUE USED TO PAY SUCH DEBT, AND INVESTMENT INCOME THEREON, BE COLLECTED AND SPENT BY THE DISTRICT AS A VOTER-APPROVED REVENUE CHANGE, WITHOUT REGARD TO ANY SPENDING, REVENUE-RAISING, OR OTHER LIMITATION CONTAINED WITHIN ARTICLE X, SECTION 20 OF THE COLORADO CONSTITUTION, AND WITHOUT LIMITING IN ANY YEAR THE AMOUNT OF OTHER REVENUES THAT MAY BE COLLECTED AND SPENT BY THE DISTRICT? YES: NO: BALLOT ISSUE 6K(Mosquito Control) SHALL KITELEY RANCH METROPOLITAN DISTRICT DEBT BE INCREASED $30,000,000, WITH A REPAYMENT COST OF $165,000,000; AND SHALL KITELEY RANCH METROPOLITAN DISTRICT TAXES BE INCREASED $165,000,000 ANNUALLY, OR BY SUCH LESSER ANNUAL AMOUNT AS MAY BE NECESSARY TO PAY THE DISTRICT'S DEBT: SUCH DEBT TO CONSIST OF GENERAL OBLIGATION BONDS, SPECIAL ASSESSMENT BONDS, OR OTHER OBLIGATIONS, INCLUDING CONTRACTS, ISSUED OR INCURRED FOR THE PURPOSE OF PAYING, REIMBURSING, OR FINANCING ALL OR ANY PART OF THE COSTS OF ACQUIRING, CONSTRUCTING, RELOCATING, INSTALLING, COMPLETING, AND OTHERWISE PROVIDING, WITHIN OR WITHOUT THE BOUNDARIES OF THE DISTRICT, CONTINUE► FACILITIES, PROPERTIES, AND EQUIPMENT FOR THE ELIMINATION AND CONTROL OF MOSQUITOES, TOGETHER WITH ALL NECESSARY, INCIDENTAL, AND APPURTENANT FACILITIES, EQUIPMENT, LAND, AND EASEMENTS, AND EXTENSIONS OF AND IMPROVEMENTS TO SAID FACILITIES, SUCH DEBT TO BEAR INTEREST AT A NET EFFECTIVE INTEREST RATE NOT IN EXCESS OF 15% PER ANNUM, SUCH INTEREST TO BE PAYABLE AT SUCH TIME OR TIMES AND WHICH MAY COMPOUND PERIODICALLY AS MAY BE DETERMINED BY THE DISTRICT BOARD OF DIRECTORS, SUCH DEBT TO BE SOLD AT ONE TIME OR FROM TIME TO TIME IN ONE SERIES OR MORE AT A PRICE ABOVE, BELOW, OR EQUAL TO THE PRINCIPAL AMOUNT OF SUCH DEBT AND ON SUCH TERMS AND CONDITIONS AS THE DISTRICT BOARD OF DIRECTORS MAY DETERMINE, INCLUDING PROVISIONS FOR REDEMPTION OF THE DEBT PRIOR TO MATURITY WITH OR WITHOUT PAYMENT OF PREMIUM IN AN AMOUNT DETERMINED BY THE DISTRICT BOARD OF DIRECTORS, SUCH DEBT TO BE PAID FROM ANY LEGALLY AVAILABLE MONEYS OF THE DISTRICT, INCLUDING SPECIAL ASSESSMENTS OR THE PROCEEDS OF AD VALOREM PROPERTY TAXES; SUCH TAXES TO CONSIST OF SPECIAL ASSESSMENTS OR AN AD VALOREM MILL LEVY IMPOSED ON ALL TAXABLE PROPERTY OF THE DISTRICT, WITHOUT LIMITATION OF RATE OR WITH SUCH LIMITATIONS AS MAY BE DETERMINED BY THE DISTRICT BOARD OF DIRECTORS, AND IN AMOUNTS SUFFICIENT TO PRODUCE THE ANNUAL INCREASE SET FORTH ABOVE OR SUCH LESSER AMOUNT AS MAY BE NECESSARY, TO BE USED SOLELY FOR THE PURPOSE OF PAYING THE PRINCIPAL OF, PREMIUM IF ANY, AND INTEREST ON THE DISTRICT'S DEBT; AND SHALL THE PROCEEDS OF ANY SUCH DEBT AND THE PROCEEDS OF SUCH TAXES, ANY OTHER REVENUE USED TO PAY SUCH DEBT, AND INVESTMENT INCOME THEREON, BE COLLECTED AND SPENT BY THE DISTRICT AS A VOTER-APPROVED REVENUE CHANGE, WITHOUT REGARD TO ANY SPENDING, REVENUE-RAISING, OR OTHER LIMITATION CONTAINED WITHIN ARTICLE X, SECTION 20 OF THE COLORADO CONSTITUTION, AND WITHOUT LIMITING IN ANY YEAR THE AMOUNT OF OTHER REVENUES THAT MAY BE COLLECTED AND SPENT BY THE DISTRICT? YES: NO: BALLOT ISSUE 6L (Fire Protection and Emergency Medical) SHALL KITELEY RANCH METROPOLITAN DISTRICT DEBT BE INCREASED $30,000,000, WITH A REPAYMENT COST OF $165,000,000; AND SHALL KITELEY RANCH METROPOLITAN DISTRICT TAXES BE INCREASED $165,000,000 ANNUALLY, OR BY SUCH LESSER ANNUAL AMOUNT AS MAY BE NECESSARY TO PAY THE DISTRICT'S DEBT: SUCH DEBT TO CONSIST OF GENERAL OBLIGATION BONDS, SPECIAL ASSESSMENT BONDS, OR OTHER OBLIGATIONS, INCLUDING CONTRACTS, ISSUED OR INCURRED FOR THE PURPOSE OF PAYING, REIMBURSING, OR FINANCING ALL OR ANY PART OF THE COSTS OF ACQUIRING, CONSTRUCTING, RELOCATING, INSTALLING, COMPLETING, AND OTHERWISE PROVIDING, WITHIN OR WITHOUT THE BOUNDARIES OF THE DISTRICT, FIRE PROTECTION AND AMBULANCE AND EMERGENCY MEDICAL AND RESCUE CONTINUE► SERVICES FACILITIES AND IMPROVEMENTS, TOGETHER WITH ALL NECESSARY, INCIDENTAL, AND APPURTENANT FACILITIES, EQUIPMENT, LAND, AND EASEMENTS, AND EXTENSIONS OF AND IMPROVEMENTS TO SAID FACILITIES, SUCH DEBT TO BEAR INTEREST AT A NET EFFECTIVE INTEREST RATE NOT IN EXCESS OF 15% PER ANNUM, SUCH INTEREST TO BE PAYABLE AT SUCH TIME OR TIMES AND WHICH MAY COMPOUND PERIODICALLY AS MAY BE DETERMINED BY THE DISTRICT BOARD OF DIRECTORS, SUCH DEBT TO BE SOLD AT ONE TIME OR FROM TIME TO TIME IN ONE SERIES OR MORE AT A PRICE ABOVE, BELOW, OR EQUAL TO THE PRINCIPAL AMOUNT OF SUCH DEBT AND ON SUCH TERMS AND CONDITIONS AS THE DISTRICT BOARD OF DIRECTORS MAY DETERMINE, INCLUDING PROVISIONS FOR REDEMPTION OF THE DEBT PRIOR TO MATURITY WITH OR WITHOUT PAYMENT OF PREMIUM IN AN AMOUNT DETERMINED BY THE DISTRICT BOARD OF DIRECTORS, SUCH DEBT TO BE PAID FROM ANY LEGALLY AVAILABLE MONEYS OF THE DISTRICT, INCLUDING SPECIAL ASSESSMENTS OR THE PROCEEDS OF AD VALOREM PROPERTY TAXES; SUCH TAXES TO CONSIST OF SPECIAL ASSESSMENTS OR AN AD VALOREM MILL LEVY IMPOSED ON ALL TAXABLE PROPERTY OF THE DISTRICT, WITHOUT LIMITATION OF RATE OR WITH SUCH LIMITATIONS AS MAY BE DETERMINED BY THE DISTRICT BOARD OF DIRECTORS, AND IN AMOUNTS SUFFICIENT TO PRODUCE THE ANNUAL INCREASE SET FORTH ABOVE OR SUCH LESSER AMOUNT AS MAY BE NECESSARY, TO BE USED SOLELY FOR THE PURPOSE OF PAYING THE PRINCIPAL OF, PREMIUM IF ANY, AND INTEREST ON THE DISTRICT'S DEBT; AND SHALL THE PROCEEDS OF ANY SUCH DEBT AND THE PROCEEDS OF SUCH TAXES, ANY OTHER REVENUE USED TO PAY SUCH DEBT, AND INVESTMENT INCOME THEREON, BE COLLECTED AND SPENT BY THE DISTRICT AS A VOTER-APPROVED REVENUE CHANGE, WITHOUT REGARD TO ANY SPENDING, REVENUE-RAISING, OR OTHER LIMITATION CONTAINED WITHIN ARTICLE X, SECTION 20 OF THE COLORADO CONSTITUTION, AND WITHOUT LIMITING IN ANY YEAR THE AMOUNT OF OTHER REVENUES THAT MAY BE COLLECTED AND SPENT BY THE DISTRICT? YES: NO: BALLOT ISSUE 6M (Operations and Maintenance Debt) SHALL KITELEY RANCH METROPOLITAN DISTRICT DEBT BE INCREASED $30,000,000, WITH A REPAYMENT COST OF $165,000,000; AND SHALL KITELEY RANCH METROPOLITAN DISTRICT TAXES BE INCREASED $165,000,000 ANNUALLY, OR BY SUCH LESSER ANNUAL AMOUNT AS MAY BE NECESSARY TO PAY THE DISTRICT'S DEBT: SUCH DEBT TO CONSIST OF GENERAL OBLIGATION BONDS, SPECIAL ASSESSMENT BONDS, OR OTHER OBLIGATIONS, INCLUDING CONTRACTS, ISSUED OR INCURRED TO PAY THE COSTS OF OPERATING, MAINTAINING, OR OTHERWISE PROVIDING SYSTEMS, OPERATIONS, COVENANT ENFORCEMENT, DESIGN REVIEW AND ADMINISTRATION TO CARRY OUT THE OBJECTS AND PURPOSES FOR WHICH THE DISTRICT WAS ORGANIZED, TOGETHER WITH ALL NECESSARY, INCIDENTAL AND APPURTENANT PROPERTIES, FACILITIES, EQUIPMENT, PERSONNEL, CONTRACTORS, CONSULTANTS, AND CONTINUE► COSTS AND ALL LAND, EASEMENTS, AND APPURTENANCES NECESSARY OR APPROPRIATE IN CONNECTION THEREWITH, SUCH DEBT TO BEAR INTEREST AT A NET EFFECTIVE INTEREST RATE NOT IN EXCESS OF 15% PER ANNUM, SUCH INTEREST TO BE PAYABLE AT SUCH TIME OR TIMES AND WHICH MAY COMPOUND PERIODICALLY AS MAY BE DETERMINED BY THE DISTRICT BOARD OF DIRECTORS, SUCH DEBT TO BE SOLD AT ONE TIME OR FROM TIME TO TIME IN ONE SERIES OR MORE AT A PRICE ABOVE, BELOW, OR EQUAL TO THE PRINCIPAL AMOUNT OF SUCH DEBT AND ON SUCH TERMS AND CONDITIONS AS THE DISTRICT BOARD OF DIRECTORS MAY DETERMINE, INCLUDING PROVISIONS FOR REDEMPTION OF THE DEBT PRIOR TO MATURITY WITH OR WITHOUT PAYMENT OF PREMIUM IN AN AMOUNT DETERMINED BY THE DISTRICT BOARD OF DIRECTORS, SUCH DEBT TO BE PAID FROM ANY LEGALLY AVAILABLE MONEYS OF THE DISTRICT, INCLUDING SPECIAL ASSESSMENTS OR THE PROCEEDS OF AD VALOREM PROPERTY TAXES; SUCH TAXES TO CONSIST OF SPECIAL ASSESSMENTS OR AN AD VALOREM MILL LEVY IMPOSED ON ALL TAXABLE PROPERTY OF THE DISTRICT, WITHOUT LIMITATION OF RATE OR WITH SUCH LIMITATIONS AS MAY BE DETERMINED BY THE DISTRICT BOARD OF DIRECTORS, AND IN AMOUNTS SUFFICIENT TO PRODUCE THE ANNUAL INCREASE SET FORTH ABOVE OR SUCH LESSER AMOUNT AS MAY BE NECESSARY, TO BE USED SOLELY FOR THE PURPOSE OF PAYING THE PRINCIPAL OF, PREMIUM IF ANY, AND INTEREST ON THE DISTRICT'S DEBT; AND SHALL THE PROCEEDS OF ANY SUCH DEBT AND THE PROCEEDS OF SUCH TAXES, ANY OTHER REVENUE USED TO PAY SUCH DEBT, AND INVESTMENT INCOME THEREON, BE COLLECTED AND SPENT BY THE DISTRICT AS A VOTER-APPROVED REVENUE CHANGE, WITHOUT REGARD TO ANY SPENDING, REVENUE-RAISING, OR OTHER LIMITATION CONTAINED WITHIN ARTICLE X, SECTION 20 OF THE COLORADO CONSTITUTION, AND WITHOUT LIMITING IN ANY YEAR THE AMOUNT OF OTHER REVENUES THAT MAY BE COLLECTED AND SPENT BY THE DISTRICT? YES: NO: BALLOT ISSUE 6N (Oil and Gas Debt): SHALL KITELEY RANCH METROPOLITAN DISTRICT DEBT BE INCREASED $30,000,000, WITH A REPAYMENT COST OF $165,000,000; AND SHALL KITELEY RANCH METROPOLITAN DISTRICT TAXES BE INCREASED $165,000,000 ANNUALLY, OR BY SUCH LESSER ANNUAL AMOUNT AS MAY BE NECESSARY TO PAY THE DISTRICT'S DEBT: SUCH DEBT TO CONSIST OF GENERAL OBLIGATION BONDS, SPECIAL ASSESSMENT BONDS, OR OTHER OBLIGATIONS, INCLUDING CONTRACTS, ISSUED OR INCURRED FOR THE PURPOSE OF PAYING, REIMBURSING, OR FINANCING ALL OR ANY PART OF THE COSTS OF ACQUIRING, CONSTRUCTING, RELOCATING, INSTALLING, COMPLETING, AND OTHERWISE PROVIDING, WITHIN OR WITHOUT THE BOUNDARIES OF THE DISTRICT, INCREMENTAL DIRECTIONAL DRILLING COSTS FOR OIL AND GAS WELLS DRILLED WITHIN THE GREATER WATTENBERG AREA AS THAT TERM IS DEFINED IN SECTION 24-65.5-102, C.R.S., AS IT CURRENTLY EXISTS OR MAY BE AMENDED IN CONTINUE► THE FUTURE, TOGETHER WITH ALL NECESSARY, INCIDENTAL AND APPURTENANT FACILITIES, EQUIPMENT, LAND, EASEMENTS, AND EXTENSIONS OF AND IMPROVEMENTS TO SUCH FACILITIES, SUCH DEBT TO BEAR INTEREST AT A NET EFFECTIVE INTEREST RATE NOT IN EXCESS OF 15% PER ANNUM, SUCH INTEREST TO BE PAYABLE AT SUCH TIME OR TIMES AND WHICH MAY COMPOUND PERIODICALLY AS MAY BE DETERMINED BY THE DISTRICT BOARD OF DIRECTORS, SUCH DEBT TO BE SOLD AT ONE TIME OR FROM TIME TO TIME IN ONE SERIES OR MORE AT A PRICE ABOVE, BELOW, OR EQUAL TO THE PRINCIPAL AMOUNT OF SUCH DEBT AND ON SUCH TERMS AND CONDITIONS AS THE DISTRICT BOARD OF DIRECTORS MAY DETERMINE, INCLUDING PROVISIONS FOR REDEMPTION OF THE DEBT PRIOR TO MATURITY WITH OR WITHOUT PAYMENT OF PREMIUM IN AN AMOUNT DETERMINED BY THE DISTRICT BOARD OF DIRECTORS, SUCH DEBT TO BE PAID FROM ANY LEGALLY AVAILABLE MONEYS OF THE DISTRICT, INCLUDING SPECIAL ASSESSMENTS OR THE PROCEEDS OF AD VALOREM PROPERTY TAXES; SUCH TAXES TO CONSIST OF SPECIAL ASSESSMENTS OR AN AD VALOREM MILL LEVY IMPOSED ON ALL TAXABLE PROPERTY OF THE DISTRICT, WITHOUT LIMITATION OF RATE OR WITH SUCH LIMITATIONS AS MAY BE DETERMINED BY THE DISTRICT BOARD OF DIRECTORS, AND IN AMOUNTS SUFFICIENT TO PRODUCE THE ANNUAL INCREASE SET FORTH ABOVE OR SUCH LESSER AMOUNT AS MAY BE NECESSARY, TO BE USED SOLELY FOR THE PURPOSE OF PAYING THE PRINCIPAL OF, PREMIUM IF ANY, AND INTEREST ON THE DISTRICT'S DEBT; AND SHALL THE PROCEEDS OF ANY SUCH DEBT AND THE PROCEEDS OF SUCH TAXES, ANY OTHER REVENUE USED TO PAY SUCH DEBT, AND INVESTMENT INCOME THEREON, BE COLLECTED AND SPENT BY THE DISTRICT AS A VOTER-APPROVED REVENUE CHANGE, WITHOUT REGARD TO ANY SPENDING, REVENUE-RAISING, OR OTHER LIMITATION CONTAINED WITHIN ARTICLE X, SECTION 20 OF THE COLORADO CONSTITUTION, AND WITHOUT LIMITING IN ANY YEAR THE AMOUNT OF OTHER REVENUES THAT MAY BE COLLECTED AND SPENT BY THE DISTRICT? YES: NO: BALLOT ISSUE 60 (Refunding Debt) SHALL KITELEY RANCH METROPOLITAN DISTRICT DEBT BE INCREASED $30,000,000, WITH A REPAYMENT COST OF $165,000,000; AND SHALL KITELEY RANCH METROPOLITAN DISTRICT TAXES BE INCREASED $165,000,000 ANNUALLY, OR BY SUCH LESSER ANNUAL AMOUNT AS MAY BE NECESSARY TO PAY THE DISTRICT'S DEBT: SUCH DEBT TO CONSIST OF GENERAL OBLIGATION BONDS, SPECIAL ASSESSMENT BONDS, OR OTHER OBLIGATIONS ISSUED OR INCURRED FOR THE PURPOSE OF REFUNDING, PAYING, OR DEFEASING, IN WHOLE OR IN PART, BONDS, NOTES, OR OTHER FINANCIAL OBLIGATIONS OF THE DISTRICT; SUCH DEBT TO BEAR INTEREST AT A RATE TO BE DETERMINED BY THE DISTRICT BOARD OF DIRECTORS, WHICH INTEREST RATE MAY BE THE SAME AS OR HIGHER THAN THE INTEREST RATE BORNE BY THE OBLIGATIONS BEING REFUNDED, BUT NOT IN EXCESS OF 15% PER ANNUM; SUCH INTEREST TO BE PAYABLE AT SUCH TIME OR TIMES AND WHICH MAY COMPOUND PERIODICALLY CONTINUE► AS MAY BE DETERMINED BY THE DISTRICT BOARD OF DIRECTORS, SUCH DEBT TO BE SOLD AT ONE TIME OR FROM TIME TO TIME IN ONE SERIES OR MORE AT A PRICE ABOVE, BELOW, OR EQUAL TO THE PRINCIPAL AMOUNT OF SUCH DEBT AND ON SUCH TERMS AND CONDITIONS AS THE DISTRICT BOARD OF DIRECTORS MAY DETERMINE, INCLUDING PROVISIONS FOR REDEMPTION OF THE DEBT PRIOR TO MATURITY WITH OR WITHOUT PAYMENT OF PREMIUM IN AN AMOUNT DETERMINED BY THE DISTRICT BOARD OF DIRECTORS, SUCH DEBT TO BE PAID FROM ANY LEGALLY AVAILABLE MONEYS OF THE DISTRICT, INCLUDING SPECIAL ASSESSMENTS OR THE PROCEEDS OF AD VALOREM PROPERTY TAXES; SUCH TAXES TO CONSIST OF SPECIAL ASSESSMENTS OR AN AD VALOREM MILL LEVY IMPOSED ON ALL TAXABLE PROPERTY OF THE DISTRICT, WITHOUT LIMITATION OF RATE OR WITH SUCH LIMITATIONS AS MAY BE DETERMINED BY THE DISTRICT BOARD OF DIRECTORS, AND IN AMOUNTS SUFFICIENT TO PRODUCE THE ANNUAL INCREASE SET FORTH ABOVE OR SUCH LESSER AMOUNT AS MAY BE NECESSARY, TO BE USED SOLELY FOR THE PURPOSE OF PAYING THE PRINCIPAL OF, PREMIUM IF ANY, AND INTEREST ON THE DISTRICT'S DEBT; AND SHALL THE PROCEEDS OF ANY SUCH DEBT AND THE PROCEEDS OF SUCH TAXES, ANY OTHER REVENUE USED TO PAY SUCH DEBT, AND INVESTMENT INCOME THEREON, BE COLLECTED AND SPENT BY THE DISTRICT AS A VOTER-APPROVED REVENUE CHANGE WITHOUT REGARD TO ANY SPENDING, REVENUE-RAISING, OR OTHER LIMITATION CONTAINED WITHIN ARTICLE X, SECTION 20 OF THE COLORADO CONSTITUTION, AND WITHOUT LIMITING IN ANY YEAR THE AMOUNT OF OTHER REVENUES THAT MAY BE COLLECTED AND SPENT BY THE DISTRICT? YES: NO: BALLOT ISSUE 6P (District Intergovernmental Agreements) SHALL KITELEY RANCH METROPOLITAN DISTRICT BE AUTHORIZED TO ENTER INTO ONE OR MORE INTERGOVERNMENTAL AGREEMENTS WITH THE STATE OR ANY POLITICAL SUBDIVISION OF THE STATE FOR THE PURPOSE OF JOINTLY FINANCING THE COSTS OF ANY PUBLIC IMPROVEMENTS, FACILITIES, SYSTEMS, PROGRAMS, OR PROJECTS WHICH THE DISTRICT MAY LAWFULLY PROVIDE, OR FOR THE PURPOSE OF PROVIDING FOR THE OPERATIONS AND MAINTENANCE OF THE DISTRICT AND ITS FACILITIES AND PROPERTIES, WHICH AGREEMENT MAY CONSTITUTE A MULTIPLE-FISCAL YEAR OBLIGATION OF THE DISTRICT TO THE EXTENT PROVIDED THEREIN AND OTHERWISE AUTHORIZED BY LAW, AND IN CONNECTION THEREWITH SHALL THE DISTRICT BE AUTHORIZED TO MAKE COVENANTS REGARDING THE ESTABLISHMENT AND USE OF AD VALOREM TAXES, RATES, FEES, TOLLS, PENALTIES, AND OTHER CHARGES OR REVENUES OF THE DISTRICT, AND COVENANTS, REPRESENTATIONS, AND WARRANTIES AS TO OTHER MATTERS ARISING UNDER THE AGREEMENTS, ALL AS MAY BE DETERMINED BY THE BOARD OF DIRECTORS OF THE DISTRICT? YES: CONTINUE► NO: BALLOT ISSUE 6Q (Intergovernmental Agreement Debt) SHALL KITELEY RANCH METROPOLITAN DISTRICT DEBT BE INCREASED $30,000,000 WITH A REPAYMENT COST OF $165,000,000, AND SHALL KITELEY RANCH METROPOLITAN DISTRICT TAXES BE INCREASED $165,000,000 ANNUALLY OR SUCH LESSER AMOUNT AS MAY BE NECESSARY FOR THE PAYMENT OF SUCH DEBT AND ANY REFUNDINGS THEREOF, AT AN INTEREST RATE THAT IS EQUAL TO, LOWER OR HIGHER THAN THE INTEREST RATE ON THE REFUNDED DEBT, SUCH DEBT TO CONSIST OF INTERGOVERNMENTAL AGREEMENTS OR OTHER CONTRACTS WITHOUT LIMIT AS TO TERM WITH ONE OR MORE POLITICAL SUBDIVISIONS OF THE STATE, GOVERNMENTAL UNITS, GOVERNMENTALLY- OWNED ENTERPRISES, OR OTHER PUBLIC ENTITIES, WHICH CONTRACTS WILL CONSTITUTE MULTIPLE FISCAL YEAR FINANCIAL OBLIGATIONS AND WHICH WILL OBLIGATE THE DISTRICT TO PAY, REIMBURSE OR FINANCE THE COSTS OF FINANCING, DESIGNING, ACQUIRING, CONSTRUCTING, COMPLETING OR OTHERWISE PROVIDING, AND THE COSTS OF OPERATING AND MAINTAINING, ANY PUBLIC IMPROVEMENT WHICH THE DISTRICT IS LAWFULLY AUTHORIZED TO PROVIDE, ALL AS MAY BE PROVIDED IN SUCH CONTRACTS, SUCH CONTRACTS TO BEAR INTEREST AT A MAXIMUM NET EFFECTIVE INTEREST RATE NOT TO EXCEED 15% PER ANNUM, BE REFINANCED AT A NET EFFECTIVE INTEREST RATE NOT TO EXCEED THE MAXIMUM NET EFFECTIVE INTEREST RATE WITHOUT ADDITIONAL VOTER APPROVAL AND CONTAIN SUCH TERMS, NOT INCONSISTENT HEREWITH, AS THE DISTRICT BOARD OF DIRECTORS MAY DETERMINE; AND IN CONNECTION THEREWITH SHALL AD VALOREM PROPERTY TAXES BE LEVIED IN ANY YEAR, WITHOUT LIMITATION AS TO RATE AND IN AN AMOUNT SUFFICIENT TO PAY THE OBLIGATIONS OF THE CONTRACTS WHEN DUE, THE PROCEEDS OF THE CONTRACTS, THE REVENUES FROM ALL TAXES, FROM REVENUE SHARING AGREEMENTS, ANY OTHER REVENUES USED TO PAY THE CONTRACTS AND ANY EARNINGS FROM THE INVESTMENT OF SUCH PROCEEDS AND REVENUES BE COLLECTED, RETAINED AND SPENT BY THE DISTRICT AS A VOTER-APPROVED REVENUE CHANGE, WITHOUT REGARD TO ANY SPENDING, REVENUE-RAISING, OR OTHER LIMITATION CONTAINED WITHIN ARTICLE X, SECTION 20 OF THE COLORADO CONSTITUTION, OR ANY OTHER LAW WHICH PURPORTS TO LIMIT THE DISTRICT'S REVENUES OR EXPENDITURES AS IT CURRENTLY EXISTS OR AS IT MAY BE AMENDED IN THE FUTURE, AND WITHOUT LIMITING IN ANY YEAR THE AMOUNT OF OTHER REVENUES THAT MAY BE COLLECTED, RETAINED AND SPENT BY THE DISTRICT? YES: NO: CONTINUE► BALLOT ISSUE 6R (Mortgage) SHALL KITELEY RANCH METROPOLITAN DISTRICT BE AUTHORIZED TO ISSUE, CREATE, EXECUTE, AND DELIVER MORTGAGES, LIENS, AND OTHER ENCUMBRANCES ON DISTRICT REAL AND PERSONAL PROPERTY, WHETHER NOW OWNED OR HEREAFTER ACQUIRED, AND INCLUDING WATER AND WATER RIGHTS, SUCH ENCUMBRANCES TO BE IN THE TOTAL PRINCIPAL AMOUNT OF NOT MORE THAN $30,000,000, PLUS INTEREST THEREON AT A NET EFFECTIVE INTEREST RATE NOT IN EXCESS OF 15% PER ANNUM, ALL AS MAY BE DETERMINED BY THE BOARD OF DIRECTORS TO BE NECESSARY OR APPROPRIATE IN CONNECTION WITH THE ISSUANCE OF BONDS, NOTES, CONTRACTS, OR OTHER FINANCIAL OBLIGATIONS OF THE DISTRICT; SUCH ENCUMBRANCES TO BE CREATED FOR THE PURPOSE OF PROVIDING ADDITIONAL SECURITY FOR DISTRICT FINANCIAL OBLIGATIONS, AND TO BE CREATED AT ONE TIME OR FROM TIME TO TIME; SUCH MORTGAGES, LIENS, OR OTHER ENCUMBRANCES TO ENTITLE THE OWNER OR BENEFICIARY THEREOF TO FORECLOSE UPON AND TAKE TITLE TO AND POSSESSION OF THE DISTRICT PROPERTY SO ENCUMBERED, AND IN CONNECTION THEREWITH SHALL THE DISTRICT BE AUTHORIZED TO MAKE SUCH COVENANTS REGARDING THE USE OF THE ENCUMBERED PROPERTY AND OTHER MATTERS ARISING UNDER THE ENCUMBRANCE,ALL AS MAY BE DETERMINED BY THE BOARD OF DIRECTORS OF THE DISTRICT? YES: NO: BALLOT ISSUE 6S (Reimbursement Agreements) SHALL KITELEY RANCH METROPOLITAN DISTRICT DEBT BE INCREASED $60,000,000 WITH A REPAYMENT COST OF $330,000,000, AND SHALL KITELEY RANCH METROPOLITAN DISTRICT TAXES BE INCREASED $330,000,000 ANNUALLY OR SUCH LESSER AMOUNT AS MAY BE NECESSARY FOR THE PAYMENT OF SUCH DEBT AND ANY REFUNDINGS THEREOF; SUCH DEBT TO CONSIST OF REIMBURSEMENT AGREEMENTS ("CONTRACTS") WITHOUT LIMIT AS TO TERM WITH ONE OR MORE PRIVATE ENTITIES WHICH CONTRACTS WILL CONSTITUTE MULTIPLE FISCAL YEAR FINANCIAL OBLIGATIONS AND WHICH WILL OBLIGATE THE DISTRICT TO REIMBURSE TO SUCH ENTITY OR ENTITIES FOR ADVANCES MADE TO AND COSTS INCURRED ON BEHALF OF THE DISTRICT FOR THE PURPOSES OF FINANCING, DESIGNING, ACQUIRING, CONSTRUCTING, COMPLETING OR OTHERWISE PROVIDING, AND THE COSTS OF OPERATING AND MAINTAINING, ANY PUBLIC IMPROVEMENT INCLUDING THE PROVISION OF COVENANT ENFORCEMENT AND ADMINISTRATIVE COSTS OF THE DISTRICT, ALL AS MAY BE PROVIDED IN SUCH CONTRACTS; SUCH DEBT TO BEAR INTEREST AT A MAXIMUM NET EFFECTIVE INTEREST RATE NOT TO EXCEED 15% PER ANNUM, BE REFINANCED AT A NET EFFECTIVE INTEREST RATE NOT TO EXCEED THE MAXIMUM NET EFFECTIVE INTEREST RATE WITHOUT ADDITIONAL VOTER CONTINUE► APPROVAL, AND CONTAIN SUCH TERMS, NOT INCONSISTENT HEREWITH, AS THE DISTRICT'S BOARD OF DIRECTORS MAY DETERMINE; SUCH DEBT TO BE ISSUED OR INCURRED AT ONE TIME OR FROM TIME TO TIME, TO BE PAID FROM ANY LEGALLY AVAILABLE REVENUES OF THE DISTRICT, INCLUDING THE PROCEEDS OF AD VALOREM PROPERTY TAXES; SUCH TAXES TO CONSIST OF AN AD VALOREM MILL LEVY IMPOSED ON ALL TAXABLE PROPERTY OF THE DISTRICT, WITHOUT LIMITATION OF RATE AND AMOUNT OR WITH SUCH LIMITATIONS AS MAY BE DETERMINED BY THE DISTRICT'S BOARD OF DIRECTORS, TO BE USED FOR THE PURPOSE OF PAYING THE PRINCIPAL OF, PREMIUM IF ANY, AND INTEREST ON SUCH DEBT WHEN DUE; AND SHALL THE PROCEEDS OF ANY SUCH DEBT AND THE REVENUES FROM SUCH TAXES AND ANY OTHER REVENUES USED TO PAY SUCH DEBT, AND INVESTMENT EARNINGS THEREON, BE COLLECTED, RETAINED, AND SPENT BY THE DISTRICT AS A VOTER-APPROVED REVENUE CHANGE, WITHOUT REGARD TO ANY SPENDING, REVENUE-RAISING, OR OTHER LIMITATION CONTAINED WITHIN ARTICLE X, SECTION 20 OF THE COLORADO CONSTITUTION, OR ANY OTHER LAW WHICH PURPORTS TO LIMIT THE DISTRICT'S REVENUES OR EXPENDITURES AS IT CURRENTLY EXISTS OR AS IT MAY BE AMENDED IN THE FUTURE, AND WITHOUT LIMITING IN ANY YEAR THE AMOUNT OF OTHER REVENUES THAT MAY BE COLLECTED, RETAINED, AND SPENT BY THE DISTRICT? YES: NO: BALLOT ISSUE 6T (Construction Management Agreement) SHALL KITELEY RANCH METROPOLITAN DISTRICT DEBT BE INCREASED $30,000,000 WITH A REPAYMENT COST OF $165,000,000, AND SHALL KITELEY RANCH METROPOLITAN DISTRICT TAXES BE INCREASED $165,000,000 ANNUALLY OR SUCH LESSER AMOUNT AS MAY BE NECESSARY FOR THE PAYMENT OF SUCH DEBT AND ANY REFUNDINGS THEREOF; SUCH DEBT TO CONSIST OF REVENUE BONDS,NOTES, CERTIFICATES, DEBENTURES, OR OTHER MULTIPLE FISCAL YEAR FINANCIAL OBLIGATIONS, INCLUDING CONTRACTS, ISSUED OR INCURRED FOR THE PURPOSE OF PROVIDING FOR CERTAIN MANAGEMENT SERVICES RELATED TO THE DESIGNING, ACQUIRING, CONSTRUCTING, INSTALLING, EQUIPPING, COMPLETING, OPERATING, MAINTAINING, MANAGING AND OTHERWISE PROVIDING, WITHIN OR WITHOUT THE BOUNDARIES OF THE DISTRICT, DISTRICT FACILITIES, OR FOR THE PURPOSE OF REFUNDING OBLIGATIONS ISSUED FOR SUCH PURPOSE WHETHER OR NOT SUCH REFUNDING OBLIGATIONS ARE ISSUED AT A LOWER OR HIGHER INTEREST RATE; SUCH DEBT TO INCLUDE MANAGEMENT AGREEMENTS BETWEEN THE DISTRICT AND OTHER PARTIES; SUCH DEBT TO BEAR INTEREST AT A MAXIMUM NET EFFECTIVE INTEREST RATE NOT TO EXCEED 15% PER ANNUM, BE REFINANCED AT A NET EFFECTIVE INTEREST RATE NOT TO EXCEED THE MAXIMUM NET EFFECTIVE INTEREST RATE WITHOUT ADDITIONAL VOTER APPROVAL, AND CONTAIN SUCH TERMS, NOT INCONSISTENT HEREWITH, AS THE DISTRICT'S BOARD OF DIRECTORS MAY CONTINUE► DETERMINE; SUCH DEBT TO BE ISSUED OR INCURRED AT ONE TIME OR FROM TIME TO TIME, TO BE PAID FROM ANY LEGALLY AVAILABLE REVENUES OF THE DISTRICT, INCLUDING THE PROCEEDS OF AD VALOREM PROPERTY TAXES; SUCH TAXES TO CONSIST OF AN AD VALOREM MILL LEVY IMPOSED ON ALL TAXABLE PROPERTY OF THE DISTRICT, WITHOUT LIMITATION OF RATE AND AMOUNT OR WITH SUCH LIMITATIONS AS MAY BE DETERMINED BY THE DISTRICT'S BOARD OF DIRECTORS, TO BE USED FOR THE PURPOSE OF PAYING THE PRINCIPAL OF, PREMIUM IF ANY, AND INTEREST ON SUCH DEBT WHEN DUE; AND SHALL THE PROCEEDS OF ANY SUCH DEBT AND THE REVENUES FROM SUCH TAXES AND ANY OTHER REVENUES USED TO PAY SUCH DEBT, AND INVESTMENT EARNINGS THEREON, BE COLLECTED, RETAINED, AND SPENT BY THE DISTRICT AS A VOTER-APPROVED REVENUE CHANGE, WITHOUT REGARD TO ANY SPENDING, REVENUE-RAISING, OR OTHER LIMITATION CONTAINED WITHIN ARTICLE X, SECTION 20 OF THE COLORADO CONSTITUTION, OR ANY OTHER LAW WHICH PURPORTS TO LIMIT THE DISTRICT'S REVENUES OR EXPENDITURES AS IT CURRENTLY EXISTS OR AS IT MAY BE AMENDED IN THE FUTURE, AND WITHOUT LIMITING IN ANY YEAR THE AMOUNT OF OTHER REVENUES THAT MAY BE COLLECTED, RETAINED AND SPENT BY THE DISTRICT? YES: NO: BALLOT ISSUE 6U (Water—Revenue) SHALL KITELEY RANCH METROPOLITAN DISTRICT DEBT BE INCREASED $30,000,000, WITH A REPAYMENT COST OF $165,000,000, SUCH DEBT TO CONSIST OF BONDS OR OTHER OBLIGATIONS, INCLUDING CONTRACTS, ISSUED OR INCURRED FOR THE PURPOSE OF PAYING, REIMBURSING, OR FINANCING ALL OR ANY PART OF THE COSTS OF ACQUIRING, CONSTRUCTING, RELOCATING, INSTALLING, COMPLETING, AND OTHERWISE PROVIDING, WITHIN OR WITHOUT THE BOUNDARIES OF THE DISTRICT, A COMPLETE POTABLE AND NON-POTABLE WATER SUPPLY, STORAGE, TRANSMISSION, AND DISTRIBUTION SYSTEM, TOGETHER WITH ALL NECESSARY, INCIDENTAL, AND APPURTENANT FACILITIES, EQUIPMENT, LAND, AND EASEMENTS, AND EXTENSIONS OF AND IMPROVEMENTS TO SAID FACILITIES, SUCH DEBT TO BEAR INTEREST AT A NET EFFECTIVE INTEREST RATE NOT IN EXCESS OF 15% PER ANNUM, SUCH INTEREST TO BE PAYABLE AT SUCH TIME OR TIMES AND WHICH MAY COMPOUND PERIODICALLY AS MAY BE DETERMINED BY THE DISTRICT BOARD OF DIRECTORS, SUCH DEBT TO BE SOLD AT ONE TIME OR FROM TIME TO TIME IN ONE SERIES OR MORE AT A PRICE ABOVE, BELOW, OR EQUAL TO THE PRINCIPAL AMOUNT OF SUCH DEBT AND ON SUCH TERMS AND CONDITIONS AS THE DISTRICT BOARD OF DIRECTORS MAY DETERMINE, INCLUDING PROVISIONS FOR REDEMPTION OF THE DEBT PRIOR TO MATURITY WITH OR WITHOUT PAYMENT OF PREMIUM IN AN AMOUNT DETERMINED BY THE DISTRICT BOARD OF DIRECTORS, SUCH DEBT TO BE PAID FROM ANY LEGALLY AVAILABLE MONEYS OF THE DISTRICT, INCLUDING THE REVENUES DERIVED FROM THE OPERATION OF ANY OF THE DISTRICT'S FACILITIES OR PROPERTIES; AND SHALL THE PROCEEDS OF ANY SUCH DEBT AND ALL REVENUE USED TO PAY SUCH DEBT, AND INVESTMENT INCOME THEREON, BE COLLECTED AND SPENT BY THE DISTRICT AS A VOTER-APPROVED REVENUE CHANGE WITHOUT REGARD TO ANY SPENDING, REVENUE-RAISING, OR OTHER LIMITATION CONTAINED WITHIN ARTICLE X, SECTION 20 OF THE COLORADO CONSTITUTION, AND WITHOUT LIMITING IN ANY YEAR THE AMOUNT OF OTHER REVENUES THAT MAY BE COLLECTED AND SPENT BY THE DISTRICT? YES: NO: BALLOT QUESTION 6A(Public Transportation Authority) SHALL KITELEY RANCH METROPOLITAN DISTRICT BE AUTHORIZED TO EXERCISE THE POWER TO ESTABLISH, MAINTAIN, AND OPERATE A SYSTEM TO TRANSPORT THE PUBLIC BY BUS, RAIL, OR ANY OTHER MEANS OF CONVEYANCE, OR ANY COMBINATION THEREOF, AND MAY THE DISTRICT CONTRACT TO UNDERTAKE SUCH ACTIVITIES? YES: NO: BALLOTS MUST BE RECEIVED BY 7:00 P.M. ON ELECTION DAY NOVEMBER 7, 2023 AT: KITELEY RANCH METROPOLITAN DISTRICT c/o ICENOGLE SEAVER POGUE, P.C. 4725 SOUTH MONACO STREET, SUITE 360 DENVER, COLORADO 80237 Hello