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Home My WebLink About20072581.tiff Page 1 of 1 Kim Ogle From: Marcus A. McAskin [mcaskin@grimshawharring.com] Sent: Wednesday, July 25, 2007 12:10 PM Cc: Bruce Barker Subject: Waterfront at Foster Lake Attachments: Draft district#1 ballot questions.DOC; Draft district#2 ballot questions.DOC; Draft district#3 ballot questions.DOC Mr. Barker: Attached are draft election questions for the Waterfront at Foster Lake Metropolitan District Nos. 1 - 3. Section 2-14-20(J) of the County Code states that "[t]he Service Plan shall require that 30 days prior to an election thereon, proposed ballot questions for a formation election, debt authorization or de-Brucing will be submitted to Weld County for filing and review." The Service Plan for the Waterfront Districts states that the proposed ballot questions would be submitted to the County on or before August 1, 2007. As you may remember, the Service Plan for the Waterfront Districts has a total debt issuance limitation of $28,000,000 -- that is, the Districts (in the aggregate) may not issue debt that exceeds $28M without the express approval of the County. Currently, it is anticipated that District 1 will be authorized to issue up to $15M in Debt (as the majority of offsite costs will be incurred in Phase 1 of the project), District 2 will be authorized to issue up to $10M in Debt, and District 3 will be authorized to issue up to $3M in Debt, for a total of$28M. At your earliest convenience, pls review and the attached and confirm that the proposed questions are in conformance with the Service Plan. If you have any questions, or need anything further from me at this point, pls do not hesitate to call or email. Marcus McAskin 303-839-3852 o C7 6f ' r E1,71 6 Cl g c--• D 0 T� N J EXHIBIT 2007-2581 1 C 07/25/2007 Sricn3z DRAFT ELECTION QUESTIONS NOVEMBER 6, 2007 ELECTION WATERFRONT AT FOSTER LAKE METROPOLITAN DISTRICT NO. 1 BALLOT ISSUE A: SHALL WATERFRONT AT FOSTER LAKE METROPOLITAN DISTRICT NO. 1 TAXES BE INCREASED $400,000 ANNUALLY OR SUCH LESSER AMOUNT AS NECESSARY TO PAY THE DISTRICT'S ADMINISTRATION AND OPERATIONS AND MAINTENANCE EXPENSES, BY THE IMPOSITION OF AD VALOREM PROPERTY TAXES LEVIED IN ANY YEAR, WITHOUT LIMITATION AS TO RATE OR AMOUNT OR ANY OTHER CONDITION TO PAY SUCH EXPENSES AND SHALL THE PROCEEDS OF SUCH TAXES AND ANY INVESTMENT INCOME THEREON BE COLLECTED, RETAINED AND SPENT BY THE DISTRICT IN FISCAL YEAR 2008 AND IN EACH FISCAL YEAR THEREAFTER FOR AS LONG AS THE DISTRICT CONTINUES IN EXISTENCE, SUCH AUTHORIZATION TO CONSTITUTE A VOTER-APPROVED REVENUE CHANGE WHICH MAY BE COLLECTED, RETAINED AND SPENT BY THE DISTRICT WITHOUT REGARD TO ANY SPENDING, REVENUE-RAISING, OR OTHER LIMITATION CONTAINED IN 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 ANY YEAR THE AMOUNT OF OTHER REVENUES THAT MAY BE COLLECTED, RETAINED AND SPENT BY THE DISTRICT? BALLOT ISSUE B: SHALL WATERFRONT AT FOSTER LAKE METROPOLITAN DISTRICT NO. 1 TAXES BE INCREASED $400,000 ANNUALLY OR SUCH LESSER AMOUNT AS NECESSARY TO PAY THE DISTRICT'S ADMINISTRATION AND OPERATIONS AND MAINTENANCE EXPENSES, BY THE IMPOSITION OF A FEE OR FEES IMPOSED, WITHOUT LIMITATION AS TO RATE OR AMOUNT OR ANY OTHER CONDITION TO PAY SUCH EXPENSES AND SHALL THE PROCEEDS OF SUCH FEES AND ANY INVESTMENT INCOME THEREON BE COLLECTED, RETAINED AND SPENT BY THE DISTRICT IN FISCAL YEAR 2008 AND IN EACH FISCAL YEAR THEREAFTER FOR AS LONG AS THE DISTRICT CONTINUES IN EXISTENCE, SUCH AUTHORIZATION TO CONSTITUTE A VOTER-APPROVED REVENUE CHANGE WHICH MAY BE COLLECTED, RETAINED AND SPENT BY THE DISTRICT WITHOUT REGARD TO ANY SPENDING, REVENUE-RAISING, OR OTHER LIMITATION CONTAINED IN 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 ANY YEAR THE AMOUNT OF OTHER REVENUES THAT MAY BE COLLECTED, RETAINED AND SPENT BY THE DISTRICT? BALLOT ISSUE C: SHALL WATERFRONT AT FOSTER LAKE METROPOLITAN DISTRICT NO. 1 TAXES BE INCREASED $15,000,000 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, AND SHALL THE PROCEEDS OF SUCH TAXES AND ANY INVESTMENT INCOME THEREON BE COLLECTED, RETAINED AND SPENT BY THE DISTRICT N FISCAL YEAR 2008 AND N EACH FISCAL YEAR THEREAFTER FOR AS LONG AS THE DISTRICT CONTINUES N EXISTENCE, SUCH AUTHORIZATION TO CONSTITUTE A VOTER-APPROVED REVENUE CHANGE WHICH MAY BE COLLECTED, RETAINED AND SPENT BY THE DISTRICT WITHOUT REGARD TO ANY SPENDING, REVENUE-RAISING, OR OTHER LIMITATION CONTAINED IN 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 ANY YEAR THE AMOUNT OF OTHER REVENUES THAT MAY BE COLLECTED, RETAINED AND SPENT BY THE DISTRICT? BALLOT ISSUE D: SHALL WATERFRONT AT FOSTER LAKE METROPOLITAN DISTRICT NO. 1 BE AUTHORIZED TO COLLECT, RETAIN, AND SPEND THE FULL AMOUNT OF ALL TAXES, TAX INCREMENT REVENUES, PARK FEES, FACILITY FEES, SERVICE CHARGES, INSPECTION CHARGES, ADMINISTRATIVE CHARGES, GRANTS OR ANY OTHER FEE, RATE, TOLL, PENALTY, OR CHARGE AUTHORIZED BY LAW OR CONTRACT TO BE IMPOSED, COLLECTED OR RECEIVED BY THE DISTRICT DURING 2008 AND EACH FISCAL YEAR THEREAFTER, SUCH AMOUNTS TO CONSTITUTE A VOTER-APPROVED REVENUE CHANGE AND BE COLLECTED, RETAINED AND SPENT BY THE DISTRICT WITHOUT REGARD TO ANY SPENDING, REVENUE-RAISING, OR OTHER LIMITATION CONTAINED IN 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 SUBSEQUENT 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, AND WITHOUT LIMITING IN ANY YEAR THE AMOUNT OF OTHER REVENUES THAT MAY BE COLLECTED, RETAINED AND SPENT BY THE DISTRICT? 2 BALLOT ISSUE E (Street Improvements): SHALL WATEFRONT AT FOSTER LAKE METROPOLITAN DISTRICT NO. 1 DEBT BE INCREASED $15,000,000 WITH A REPAYMENT COST OF $45,000,000 OR SUCH LESSER AMOUNT AS MAY BE NECESSARY, AND SHALL WATERFRONT AT FOSTER LAKE METROPOLITAN DISTRICT NO. 1 TAXES BE INCREASED $15,000,000 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, FOR THE PURPOSE OF PAYING, LEASING, FINANCING OR REIMBURSING ALL OR ANY PART OF THE COSTS OF DESIGNING, 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, AND OTHER DRAINAGE FACILITIES, UNDERGROUND CONDUITS, SIDEWALKS, TRAILS, PUBLIC PARKING LOTS, STRUCTURES AND FACILITIES, PAVING, LIGHTING, GRADING, LANDSCAPING, BIKE PATHS AND PEDESTRIAN WAYS, PEDESTRIAN OVERPASSES, RETAINING WALLS, FENCING, ENTRY MONUMENTATION, STREETSCAPING, BRIDGES, OVERPASSES, UNDERPASSES, INTERCHANGES, MEDIAN ISLANDS, IRRIGATION, AND A SAFETY PROTECTION SYSTEM THROUGH TRAFFIC AND SAFETY CONTROLS AND DEVICES ON STREETS AND HIGHWAYS AND AT RAILROAD CROSSINGS, SIGNALIZATION, SIGNING AND STRIPING, AREA IDENTIFICATION, DRIVER INFORMATION AND DIRECTIONAL ASSISTANCE SIGNS, TOGETHER WITH ALL NECESSARY, INCIDENTAL, AND APPURTENANT FACILITIES, EQUIPMENT, LAND AND EASEMENTS AND EXTENSIONS OF AND IMPROVEMENTS TO SUCH FACILITIES, SUCH DEBT TO BEAR INTEREST AT A MAXIMUM NET EFFECTIVE INTEREST RATE NOT TO EXCEED 15% PER ANNUM, SUCH INTEREST TO BE PAYABLE AT SUCH TIME OR TIMES, AND WHICH MAY COMPOUND ANNUALLY OR SEMIANNUALLY, AND SUCH DEBT TO MATURE, BE SUBJECT TO REDEMPTION WITH OR WITHOUT PREMIUM, AND BE ISSUED AND SOLD AT, ABOVE OR BELOW PAR, 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 OR AMOUNT OR WITH SUCH LIMITATIONS, ALL OF THE ABOVE AS MAY BE DETERMINED BY THE DISTRICT BOARD OF DIRECTORS, TO BE USED FOR THE PURPOSE OF PAYING THE PRINCIPAL OF, PREMIUM IF ANY, AND INTEREST ON SUCH DEBT; AND SHALL THE PROCEEDS OF ANY SUCH DEBT AND THE REVENUE FROM SUCH TAXES, ANY OTHER REVENUE 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 3 THE AMOUNT OF OTHER REVENUES THAT MAY BE COLLECTED, RETAINED AND SPENT BY THE DISTRICT? BALLOT ISSUE F(Parks and Recreation): SHALL WATERFRONT AT FOSTER LAKE METROPOLITAN DISTRICT NO. 1 DEBT BE INCREASED $15,000,000 WITH A REPAYMENT COST OF $45,000,000 OR SUCH LESSER AMOUNT AS MAY BE NECESSARY, AND SHALL WATERFRONT AT FOSTER LAKE METROPOLITAN DISTRICT NO. 1 TAXES BE INCREASED $15,000,000 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, FOR THE PURPOSE OF PAYING, LEASING, FINANCING OR REIMBURSING ALL OR ANY PART OF THE COSTS OF DESIGNING, ACQUIRING, CONSTRUCTING, RELOCATING, INSTALLING, COMPLETING AND OTHERWISE PROVIDING, WITHIN OR WITHOUT THE BOUNDARIES OF THE DISTRICT, PARKS AND RECREATION FACILITIES, IMPROVEMENTS AND PROGRAMS, INCLUDING BUT NOT LIMITED TO COMMUNITY PARKS, BIKE PATHS AND PEDESTRIAN WAYS, FENCING, TRAILS, REGIONAL TRAILS, FIELDS, TOT LOTS, OPEN SPACE, CULTURAL ACTIVITIES, COMMON AREAS, COMMUNITY RECREATION CENTERS, TENNIS COURTS, OUTDOOR LIGHTING, EVENT FACILITIES, IRRIGATION FACILITIES, LAKES, WATER BODIES, SWIMMING POOLS, PUBLIC FOUNTAINS AND SCULPTURES, ART, GARDENS, LANDSCAPING, WEED CONTROL, AND OTHER ACTIVE AND PASSIVE RECREATIONAL FACILITIES, IMPROVEMENTS AND PROGRAMS, 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 MAXIMUM NET EFFECTIVE INTEREST RATE NOT TO EXCEED 15% PER ANNUM, SUCH INTEREST TO BE PAYABLE AT SUCH TIME OR TIMES, AND WHICH MAY COMPOUND ANNUALLY OR SEMIANNUALLY, AND SUCH DEBT TO MATURE, BE SUBJECT TO REDEMPTION WITH OR WITHOUT PREMIUM, AND BE ISSUED AND SOLD AT, ABOVE OR BELOW PAR, 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 OR AMOUNT OR WITH SUCH LIMITATIONS, ALL OF THE ABOVE AS MAY BE DETERMINED BY THE DISTRICT BOARD OF DIRECTORS, TO BE USED FOR THE PURPOSE OF PAYING THE PRINCIPAL OF, PREMIUM IF ANY, AND INTEREST ON SUCH DEBT; AND SHALL THE PROCEEDS OF ANY SUCH DEBT AND THE REVENUE FROM SUCH TAXES, ANY OTHER REVENUE 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 4 LIMITING IN ANY YEAR THE AMOUNT OF OTHER REVENUES THAT MAY BE COLLECTED, RETAINED AND SPENT BY THE DISTRICT? BALLOT ISSUE G (Water): SHALL WATERFRONT AT FOSTER LAKE METROPOLITAN DISTRICT NO. 1 DEBT BE INCREASED $15,000,000 WITH A REPAYMENT COST OF $45,000,000 OR SUCH LESSER AMOUNT AS MAY BE NECESSARY, AND SHALL WATERFRONT AT FOSTER LAKE METROPOLITAN DISTRICT NO. 1 TAXES BE INCREASED $15,000,000 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, FOR THE PURPOSE OF PAYING, LEASING, FINANCING OR REIMBURSING ALL OR ANY PART OF THE COSTS OF DESIGNING, ACQUIRING, CONSTRUCTING, RELOCATING, INSTALLING, COMPLETING AND OTHERWISE PROVIDING, WITHIN OR WITHOUT THE BOUNDARIES OF THE DISTRICT, A POTABLE AND NON-POTABLE WATER SUPPLY, STORAGE, TRANSMISSION AND DISTRIBUTION SYSTEM FOR DOMESTIC AND OTHER PUBLIC AND PRIVATE PURPOSES BY ANY AVAILABLE MEANS, AND TO PROVIDE ALL NECESSARY OR PROPER TREATMENT WORKS AND FACILITIES, EQUIPMENT, AND APPURTENANCES INCIDENT THERETO, INCLUDING BUT NOT LIMITED TO WELLS, WATER PUMPS, WATER LINES, WATER FEATURES, PURIFICATION PLANTS, PUMP STATIONS, TRANSMISSION LINES, DISTRIBUTION MAINS AND LATERALS, FIRE HYDRANTS, METERS, WATER TAPS, IRRIGATION FACILITIES, CANALS, DITCHES, WATER RIGHTS, FLUMES, PARTIAL FLUMES, HEADGATES, DROP STRUCTURES, STORAGE RESERVOIRS AND FACILITIES, 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 MAXIMUM NET EFFECTIVE INTEREST RATE NOT TO EXCEED 15% PER ANNUM, SUCH INTEREST TO BE PAYABLE AT SUCH TIME OR TIMES, AND WHICH MAY COMPOUND ANNUALLY OR SEMIANNUALLY, AND SUCH DEBT TO MATURE, BE SUBJECT TO REDEMPTION WITH OR WITHOUT PREMIUM, AND BE ISSUED AND SOLD AT, ABOVE OR BELOW PAR, 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 OR AMOUNT OR WITH SUCH LIMITATIONS, ALL OF THE ABOVE AS MAY BE DETERMINED BY THE DISTRICT BOARD OF DIRECTORS, TO BE USED FOR THE PURPOSE OF PAYING THE PRINCIPAL OF, PREMIUM IF ANY, AND INTEREST ON SUCH DEBT; AND SHALL THE PROCEEDS OF ANY SUCH DEBT AND THE REVENUE FROM SUCH TAXES, ANY OTHER REVENUE 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 5 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? BALLOT ISSUE H (Sanitation): SHALL WATERFRONT AT FOSTER LAKE METROPOLITAN DISTRICT NO. 1 DEBT BE INCREASED $15,000,000 WITH A REPAYMENT COST OF $45,000,000 OR SUCH LESSER AMOUNT AS MAY BE NECESSARY, AND SHALL WATERFRONT AT FOSTER LAKE METROPOLITAN DISTRICT NO. 1 TAXES BE INCREASED $15,000,000 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, FOR THE PURPOSE OF PAYING, LEASING, FINANCING OR REIMBURSING ALL OR ANY PART OF THE COSTS OF DESIGNING, ACQUIRING, CONSTRUCTING, RELOCATING, INSTALLING, COMPLETING AND OTHERWISE PROVIDING, WITHIN OR WITHOUT THE BOUNDARIES OF THE DISTRICT, A SANITATION SYSTEM WHICH MAY CONSIST OF STORM OR SANITARY SEWERS, OR BOTH, FLOOD AND SURFACE DRAINAGE, TREATMENT AND DISPOSAL WORKS AND FACILITIES, OR SOLID WASTE DISPOSAL FACILITIES OR WASTE SERVICES, AND ALL NECESSARY OR PROPER EQUIPMENT AND APPURTENANCES INCIDENT THERETO, INCLUDING BUT NOT LIMITED TO TREATMENT PLANTS AND FACILITIES, COLLECTION MAINS AND LATERALS, LIFT STATIONS, TRANSMISSION LINES, CANALS, SLUDGE HANDLING, REUSE AND DISPOSAL FACILITIES, AND/OR STORM SEWER, FLOOD AND SURFACE DRAINAGE FACILITIES AND SYSTEMS, INCLUDING DETENTION/RETENTION PONDS, BOX CULVERTS AND ASSOCIATED IRRIGATION FACILITIES, EQUIPMENT, LAND, EASEMENTS AND SEWER TAPS, AND EXTENSIONS OF AND IMPROVEMENTS TO SUCH FACILITIES, SUCH DEBT TO BEAR INTEREST AT A MAXIMUM NET EFFECTIVE INTEREST RATE NOT TO EXCEED 15% PER ANNUM, SUCH INTEREST TO BE PAYABLE AT SUCH TIME OR TIMES, AND WHICH MAY COMPOUND ANNUALLY OR SEMIANNUALLY, AND SUCH DEBT TO MATURE, BE SUBJECT TO REDEMPTION WITH OR WITHOUT PREMIUM, AND BE ISSUED AND SOLD AT, ABOVE OR BELOW PAR, 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 OR AMOUNT OR WITH SUCH LIMITATIONS, ALL OF THE ABOVE AS MAY BE DETERMINED BY THE DISTRICT BOARD OF DIRECTORS, TO BE USED FOR THE PURPOSE OF PAYING THE PRINCIPAL OF, PREMIUM IF ANY, AND INTEREST ON SUCH DEBT; AND SHALL THE PROCEEDS OF ANY SUCH DEBT AND THE REVENUE FROM SUCH TAXES, ANY OTHER REVENUE 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 6 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? BALLOT ISSUE I (Safety Protection): SHALL WATERFRONT AT FOSTER LAKE METROPOLITAN DISTRICT NO. 1 DEBT BE INCREASED $15,000,000 WITH A REPAYMENT COST OF $45,000,000 OR SUCH LESSER AMOUNT AS MAY BE NECESSARY, AND SHALL WATERFRONT AT FOSTER LAKE METROPOLITAN DISTRICT NO. 1 TAXES BE INCREASED $15,000,000 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, FOR THE PURPOSE OF PAYING, LEASING, FINANCING OR REIMBURSING ALL OR ANY PART OF THE COSTS OF DESIGNING, ACQUIRING, CONSTRUCTING, RELOCATING, INSTALLING, COMPLETING AND OTHERWISE PROVIDING, WITHIN OR WITHOUT THE BOUNDARIES OF THE DISTRICT, A SAFETY PROTECTION SYSTEM OF TRAFFIC AND SAFETY CONTROLS AND DEVICES ON STREETS AND HIGHWAYS AND AT RAILROAD CROSSINGS, INCLUDING BUT NOT LIMITED TO TRAFFIC SIGNALS AND SIGNAGE, AND CONSTRUCTING UNDERPASSES OR OVERPASSES AT RAILROAD CROSSINGS, 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 MAXIMUM NET EFFECTIVE INTEREST RATE NOT TO EXCEED 15% PER ANNUM, SUCH INTEREST TO BE PAYABLE AT SUCH TIME OR TIMES, AND WHICH MAY COMPOUND ANNUALLY OR SEMIANNUALLY, AND SUCH DEBT TO MATURE, BE SUBJECT TO REDEMPTION WITH OR WITHOUT PREMIUM, AND BE ISSUED AND SOLD AT, ABOVE OR BELOW PAR, 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 OR AMOUNT OR WITH SUCH LIMITATIONS, ALL OF THE ABOVE AS MAY BE DETERMINED BY THE DISTRICT BOARD OF DIRECTORS, TO BE USED FOR THE PURPOSE OF PAYING THE PRINCIPAL OF, PREMIUM IF ANY, AND INTEREST ON SUCH DEBT; AND SHALL THE PROCEEDS OF ANY SUCH DEBT AND THE REVENUE FROM SUCH TAXES, ANY OTHER REVENUE 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 7 YEAR THE AMOUNT OF OTHER REVENUES THAT MAY BE COLLECTED, RETAINED AND SPENT BY THE DISTRICT? BALLOT ISSUE J (Operations and Maintenance Debt): SHALL WATERFRONT AT FOSTER LAKE METROPOLITAN DISTRICT NO. 1 DEBT BE INCREASED $100,000 WITH A REPAYMENT COST OF $300,000 OR SUCH LESSER AMOUNT AS MAY BE NECESSARY, AND SHALL WATERFRONT AT FOSTER LAKE METROPOLITAN DISTRICT NO. 1 TAXES BE INCREASED $100,000 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, FOR THE PURPOSE OF PAYING, REIMBURSING, FINANCING OR REFINANCING ALL OR ANY PART OF THE DISTRICT'S OPERATING AND MAINTENANCE EXPENSES, OR ADVANCES OF OPERATING AND MAINTENANCE EXPENSES MADE TO THE DISTRICT, SUCH DEBT TO BEAR INTEREST AT A MAXIMUM NET EFFECTIVE INTEREST RATE NOT TO EXCEED 15% PER ANNUM, SUCH INTEREST TO BE PAYABLE AT SUCH TIME OR TIMES, AND WHICH MAY COMPOUND ANNUALLY OR SEMIANNUALLY, SUCH DEBT TO BE INCURRED AT ONE TIME OR FROM TIME TO TIME AND TO MATURE, BE SUBJECT TO REDEMPTION, WITH OR WITHOUT PREMIUM, AND BE ISSUED AND SOLD AT, ABOVE OR BELOW PAR, AND TO CONTAIN SUCH TERMS, NOT INCONSISTENT HEREWITH, AND BE MADE PAYABLE FROM ANY LEGALLY AVAILABLE REVENUES OF THE DISTRICT, INCLUDING WITHOUT LIMITATION AD VALOREM PROPERTY TAXES LEVIED IN ANY YEAR, WITHOUT LIMITATION AS TO RATE AND IN AN AMOUNT SUFFICIENT TO PAY THE PRINCIPAL OF, PREMIUM, IF ANY, AND INTEREST ON THE DEBT WHEN DUE, ALL OF THE ABOVE AS DETERMINED BY THE DISTRICT BOARD OF DIRECTORS, AND SHALL THE PROCEEDS OF THE DEBT, THE REVENUES FROM SUCH TAXES, ANY OTHER REVENUES USED TO PAY THE DEBT, 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? BALLOT ISSUE K(Refunding Debt): SHALL WATERFRONT AT FOSTER LAKE METROPOLITAN DISTRICT NO. 1 DEBT BE INCREASED $15,000,000 WITH A REPAYMENT COST OF $45,000,000 OR SUCH LESSER AMOUNT AS MAY BE NECESSARY, AND SHALL WATERFRONT AT FOSTER LAKE METROPOLITAN DISTRICT NO. 1 TAXES BE INCREASED $15,000,000 - ANNUALLY OR SUCH LESSER AMOUNT AS MAY BE NECESSARY FOR THE PAYMENT OF SUCH DEBT AND ANY REFUNDINGS THEREOF, AT AN INTEREST 8 RATE THAT IS EQUAL TO, LOWER OR HIGHER THAN THE INTEREST RATE ON THE REFUNDED DEBT, FOR THE PURPOSE OF REFUNDING, REFINANCING OR DEFEASING ANY OR ALL OF THE DISTRICT'S DEBT, BUT NOT TO EXCEED THE MAXIMUM NET EFFECTIVE INTEREST RATE OF 15% PER ANNUM, SUCH INTEREST TO BE PAYABLE AT SUCH TIME OR TIMES, AND WHICH MAY COMPOUND ANNUALLY OR SEMIANNUALLY, AND SUCH DEBT TO MATURE, BE SUBJECT TO REDEMPTION WITH OR WITHOUT PREMIUM, AND BE ISSUED AND SOLD AT, ABOVE OR BELOW PAR, 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 OR AMOUNT OR WITH SUCH LIMITATIONS, ALL OF THE ABOVE AS MAY BE DETERMINED BY THE DISTRICT BOARD OF DIRECTORS, TO BE USED FOR THE PURPOSE OF PAYING THE PRINCIPAL OF, PREMIUM IF ANY, AND INTEREST ON SUCH DEBT; AND SHALL THE PROCEEDS OF ANY SUCH DEBT AND THE REVENUE FROM SUCH TAXES, ANY OTHER REVENUE 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? BALLOT ISSUE L (District Intergovernmental Agreements as Debt): SHALL WATERFRONT AT FOSTER LAKE METROPOLITAN DISTRICT NO. 1 DEBT BE INCREASED $15,000,000 WITH A REPAYMENT COST OF $45,000,000 OR SUCH LESSER AMOUNT AS MAY BE NECESSARY, AND SHALL WATERFRONT AT FOSTER LAKE METROPOLITAN DISTRICT NO. 1 TAXES BE INCREASED $15,000,000 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 9 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? BALLOT ISSUE M (Multi Fiscal Year IGA): SHALL WATERFRONT AT FOSTER LAKE METROPOLITAN DISTRICT NO. 1 BE AUTHORIZED TO ENTER INTO ONE OR MORE INTERGOVERNMENTAL AGREEMENTS WITH THE STATE OR ONE OR MORE POLITICAL SUBDIVISIONS 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 FINANCIAL 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 DISTRICT BOARD OF DIRECTORS? BALLOT QUESTION N: Shall Waterfront at Foster Lake Metropolitan District No. 1 be allowed to engage, offer to engage or contract with a private provider to engage in the provision of cable television service, telecommunications service or advanced service to subscribers within the District's service area, as such services are defined in Section 29-27-201, C.R.S.? 10 BALLOT QUESTION O: Shall members of the board of directors of Waterfront at Foster Lake Metropolitan District No. 1 be authorized to serve without limitation on their terms of office pursuant to the right granted to the voters of the District in Article XVIII, Section 11 of the Colorado Constitution to lengthen, shorten or eliminate the limitations on the terms of office imposed by such section? 11 DRAFT ELECTION QUESTIONS NOVEMBER 6, 2007 ELECTION WATERFRONT AT FOSTER LAKE METROPOLITAN DISTRICT NO. 2 BALLOT ISSUE A: SHALL WATERFRONT AT FOSTER LAKE METROPOLITAN DISTRICT NO. 2 TAXES BE INCREASED $400,000 ANNUALLY OR SUCH LESSER AMOUNT AS NECESSARY TO PAY THE DISTRICT'S ADMINISTRATION AND OPERATIONS AND MAINTENANCE EXPENSES, BY THE IMPOSITION OF AD VALOREM PROPERTY TAXES LEVIED IN ANY YEAR, WITHOUT LIMITATION AS TO RATE OR AMOUNT OR ANY OTHER CONDITION TO PAY SUCH EXPENSES AND SHALL THE PROCEEDS OF SUCH TAXES AND ANY INVESTMENT INCOME THEREON BE COLLECTED, RETAINED AND SPENT BY THE DISTRICT IN FISCAL YEAR 2008 AND IN EACH FISCAL YEAR THEREAFTER FOR AS LONG AS THE DISTRICT CONTINUES IN EXISTENCE, SUCH AUTHORIZATION TO CONSTITUTE A VOTER-APPROVED REVENUE CHANGE WHICH MAY BE COLLECTED, RETAINED AND SPENT BY THE DISTRICT WITHOUT REGARD TO ANY SPENDING, REVENUE-RAISING, OR OTHER LIMITATION CONTAINED IN 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 ANY YEAR THE AMOUNT OF OTHER REVENUES THAT MAY BE COLLECTED, RETAINED AND SPENT BY THE DISTRICT? BALLOT ISSUE B: SHALL WATERFRONT AT FOSTER LAKE METROPOLITAN DISTRICT NO. 2 TAXES BE INCREASED $400,000 ANNUALLY OR SUCH LESSER AMOUNT AS NECESSARY TO PAY THE DISTRICT'S ADMINISTRATION AND OPERATIONS AND MAINTENANCE EXPENSES, BY THE IMPOSITION OF A FEE OR FEES IMPOSED, WITHOUT LIMITATION AS TO RATE OR AMOUNT OR ANY OTHER CONDITION TO PAY SUCH EXPENSES AND SHALL THE PROCEEDS OF SUCH FEES AND ANY INVESTMENT INCOME THEREON BE COLLECTED, RETAINED AND SPENT BY THE DISTRICT IN FISCAL YEAR 2008 AND IN EACH FISCAL YEAR THEREAFTER FOR AS LONG AS THE DISTRICT CONTINUES IN EXISTENCE, SUCH AUTHORIZATION TO CONSTITUTE A VOTER-APPROVED REVENUE CHANGE WHICH MAY BE COLLECTED, RETAINED AND SPENT BY THE DISTRICT WITHOUT REGARD TO ANY SPENDING, REVENUE-RAISING, OR OTHER LIMITATION CONTAINED IN 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 ANY YEAR THE AMOUNT OF OTHER REVENUES THAT MAY BE COLLECTED, RETAINED AND SPENT BY THE DISTRICT? BALLOT ISSUE C: SHALL WATERFRONT AT FOSTER LAKE METROPOLITAN DISTRICT NO. 2 TAXES BE INCREASED $10,000,000 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, AND SHALL THE PROCEEDS OF SUCH TAXES AND ANY INVESTMENT INCOME THEREON BE COLLECTED, RETAINED AND SPENT BY THE DISTRICT IN FISCAL YEAR 2008 AND IN EACH FISCAL YEAR THEREAFTER FOR AS LONG AS THE DISTRICT CONTINUES IN EXISTENCE, SUCH AUTHORIZATION TO CONSTITUTE A VOTER-APPROVED REVENUE CHANGE WHICH MAY BE COLLECTED, RETAINED AND SPENT BY THE DISTRICT WITHOUT REGARD TO ANY SPENDING, REVENUE-RAISING, OR OTHER LIMITATION CONTAINED IN 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 ANY YEAR THE AMOUNT OF OTHER REVENUES THAT MAY BE COLLECTED, RETAINED AND SPENT BY THE DISTRICT? BALLOT ISSUE D: SHALL WATERFRONT AT FOSTER LAKE METROPOLITAN DISTRICT NO. 2 BE AUTHORIZED TO COLLECT, RETAIN, AND SPEND THE FULL AMOUNT OF ALL TAXES, TAX INCREMENT REVENUES, PARK FEES, FACILITY FEES, SERVICE CHARGES, INSPECTION CHARGES, ADMINISTRATIVE CHARGES, GRANTS OR ANY OTHER FEE, RATE, TOLL, PENALTY, OR CHARGE AUTHORIZED BY LAW OR CONTRACT TO BE IMPOSED, COLLECTED OR RECEIVED BY THE DISTRICT DURING 2008 AND EACH FISCAL YEAR THEREAFTER, SUCH AMOUNTS TO CONSTITUTE A VOTER-APPROVED REVENUE CHANGE AND BE COLLECTED, RETAINED AND SPENT BY THE DISTRICT WITHOUT REGARD TO ANY SPENDING, REVENUE-RAISING, OR OTHER LIMITATION CONTAINED IN 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 SUBSEQUENT 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, AND WITHOUT LIMITING IN ANY YEAR THE AMOUNT OF OTHER REVENUES THAT MAY BE COLLECTED, RETAINED AND SPENT BY THE DISTRICT? 2 BALLOT ISSUE E (Street Improvements): SHALL WATEFRONT AT FOSTER LAKE METROPOLITAN DISTRICT NO. 2 DEBT BE INCREASED $10,000,000 WITH A REPAYMENT COST OF $30,000,000 OR SUCH LESSER AMOUNT AS MAY BE NECESSARY, AND SHALL WATERFRONT AT FOSTER LAKE METROPOLITAN DISTRICT NO. 2 TAXES BE INCREASED $10,000,000 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, FOR THE PURPOSE OF PAYING, LEASING, FINANCING OR REIMBURSING ALL OR ANY PART OF THE COSTS OF DESIGNING, 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, AND OTHER DRAINAGE FACILITIES, UNDERGROUND CONDUITS, SIDEWALKS, TRAILS, PUBLIC PARKING LOTS, STRUCTURES AND FACILITIES, PAVING, LIGHTING, GRADING, LANDSCAPING, BIKE PATHS AND PEDESTRIAN WAYS, PEDESTRIAN OVERPASSES, RETAINING WALLS, FENCING, ENTRY MONUMENTATION, STREETSCAPING, BRIDGES, OVERPASSES, UNDERPASSES, INTERCHANGES, MEDIAN ISLANDS, IRRIGATION, AND A SAFETY PROTECTION SYSTEM THROUGH TRAFFIC AND SAFETY CONTROLS AND DEVICES ON STREETS AND HIGHWAYS AND AT RAILROAD CROSSINGS, SIGNALIZATION, SIGNING AND STRIPING, AREA IDENTIFICATION, DRIVER INFORMATION AND DIRECTIONAL ASSISTANCE SIGNS, TOGETHER WITH ALL NECESSARY, INCIDENTAL, AND APPURTENANT FACILITIES, EQUIPMENT, LAND AND EASEMENTS AND EXTENSIONS OF AND IMPROVEMENTS TO SUCH FACILITIES, SUCH DEBT TO BEAR INTEREST AT A MAXIMUM NET EFFECTIVE INTEREST RATE NOT TO EXCEED 15% PER ANNUM, SUCH INTEREST TO BE PAYABLE AT SUCH TIME OR TIMES, AND WHICH MAY COMPOUND ANNUALLY OR SEMIANNUALLY, AND SUCH DEBT TO MATURE, BE SUBJECT TO REDEMPTION WITH OR WITHOUT PREMIUM, AND BE ISSUED AND SOLD AT, ABOVE OR BELOW PAR, 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 OR AMOUNT OR WITH SUCH LIMITATIONS, ALL OF THE ABOVE AS MAY BE DETERMINED BY THE DISTRICT BOARD OF DIRECTORS, TO BE USED FOR THE PURPOSE OF PAYING THE PRINCIPAL OF, PREMIUM IF ANY, AND INTEREST ON SUCH DEBT; AND SHALL THE PROCEEDS OF ANY SUCH DEBT AND THE REVENUE FROM SUCH TAXES, ANY OTHER REVENUE 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 3 THE AMOUNT OF OTHER REVENUES THAT MAY BE COLLECTED, RETAINED AND SPENT BY THE DISTRICT? BALLOT ISSUE F(Parks and Recreation): SHALL WATERFRONT AT FOSTER LAKE METROPOLITAN DISTRICT NO. 2 DEBT BE INCREASED $10,000,000 WITH A REPAYMENT COST OF $30,000,000 OR SUCH LESSER AMOUNT AS MAY BE NECESSARY, AND SHALL WATERFRONT AT FOSTER LAKE METROPOLITAN DISTRICT NO. 2 TAXES BE INCREASED $10,000,000 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, FOR THE PURPOSE OF PAYING, LEASING, FINANCING OR REIMBURSING ALL OR ANY PART OF THE COSTS OF DESIGNING, ACQUIRING, CONSTRUCTING, RELOCATING, INSTALLING, COMPLETING AND OTHERWISE PROVIDING, WITHIN OR WITHOUT THE BOUNDARIES OF THE DISTRICT, PARKS AND RECREATION FACILITIES, IMPROVEMENTS AND PROGRAMS, INCLUDING BUT NOT LIMITED TO COMMUNITY PARKS, BIKE PATHS AND PEDESTRIAN WAYS, FENCING, TRAILS, REGIONAL TRAILS, FIELDS, TOT LOTS, OPEN SPACE, CULTURAL ACTIVITIES, COMMON AREAS, COMMUNITY RECREATION CENTERS, TENNIS COURTS, OUTDOOR LIGHTING, EVENT FACILITIES, IRRIGATION FACILITIES, LAKES, WATER BODIES, SWIMMING POOLS, PUBLIC FOUNTAINS AND SCULPTURES, ART, GARDENS, LANDSCAPING, WEED CONTROL, AND OTHER ACTIVE AND PASSIVE RECREATIONAL FACILITIES, IMPROVEMENTS AND PROGRAMS, 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 MAXIMUM NET EFFECTIVE INTEREST RATE NOT TO EXCEED 15% PER ANNUM, SUCH INTEREST TO BE PAYABLE AT SUCH TIME OR TIMES, AND WHICH MAY COMPOUND ANNUALLY OR SEMIANNUALLY, AND SUCH DEBT TO MATURE, BE SUBJECT TO REDEMPTION WITH OR WITHOUT PREMIUM, AND BE ISSUED AND SOLD AT, ABOVE OR BELOW PAR, 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 OR AMOUNT OR WITH SUCH LIMITATIONS, ALL OF THE ABOVE AS MAY BE DETERMINED BY THE DISTRICT BOARD OF DIRECTORS, TO BE USED FOR THE PURPOSE OF PAYING THE PRINCIPAL OF, PREMIUM IF ANY, AND INTEREST ON SUCH DEBT; AND SHALL THE PROCEEDS OF ANY SUCH DEBT AND THE REVENUE FROM SUCH TAXES, ANY OTHER REVENUE 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 4 LIMITING IN ANY YEAR THE AMOUNT OF OTHER REVENUES THAT MAY BE COLLECTED, RETAINED AND SPENT BY THE DISTRICT? BALLOT ISSUE G (Water): SHALL WATERFRONT AT FOSTER LAKE METROPOLITAN DISTRICT NO. 2 DEBT BE INCREASED $10,000,000 WITH A REPAYMENT COST OF $30,000,000 OR SUCH LESSER AMOUNT AS MAY BE NECESSARY, AND SHALL WATERFRONT AT FOSTER LAKE METROPOLITAN DISTRICT NO. 2 TAXES BE INCREASED $10,000,000 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, FOR THE PURPOSE OF PAYING, LEASING, FINANCING OR REIMBURSING ALL OR ANY PART OF THE COSTS OF DESIGNING, ACQUIRING, CONSTRUCTING, RELOCATING, INSTALLING, COMPLETING AND OTHERWISE PROVIDING, WITHIN OR WITHOUT THE BOUNDARIES OF THE DISTRICT, A POTABLE AND NON-POTABLE WATER SUPPLY, STORAGE, TRANSMISSION AND DISTRIBUTION SYSTEM FOR DOMESTIC AND OTHER PUBLIC AND PRIVATE PURPOSES BY ANY AVAILABLE MEANS, AND TO PROVIDE ALL NECESSARY OR PROPER TREATMENT WORKS AND FACILITIES, EQUIPMENT, AND APPURTENANCES INCIDENT THERETO, INCLUDING BUT NOT LIMITED TO WELLS, WATER PUMPS, WATER LINES, WATER FEATURES, PURIFICATION PLANTS, PUMP STATIONS, TRANSMISSION LINES, DISTRIBUTION MAINS AND LATERALS, FIRE HYDRANTS, METERS, WATER TAPS, IRRIGATION FACILITIES, CANALS, DITCHES, WATER RIGHTS, FLUMES, PARTIAL FLUMES, HEADGATES, DROP STRUCTURES, STORAGE RESERVOIRS AND FACILITIES, 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 MAXIMUM NET EFFECTIVE INTEREST RATE NOT TO EXCEED 15% PER ANNUM, SUCH INTEREST TO BE PAYABLE AT SUCH TIME OR TIMES, AND WHICH MAY COMPOUND ANNUALLY OR SEMIANNUALLY, AND SUCH DEBT TO MATURE, BE SUBJECT TO REDEMPTION WITH OR WITHOUT PREMIUM, AND BE ISSUED AND SOLD AT, ABOVE OR BELOW PAR, 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 OR AMOUNT OR WITH SUCH LIMITATIONS, ALL OF THE ABOVE AS MAY BE DETERMINED BY THE DISTRICT BOARD OF DIRECTORS, TO BE USED FOR THE PURPOSE OF PAYING THE PRINCIPAL OF, PREMIUM IF ANY, AND INTEREST ON SUCH DEBT; AND SHALL THE PROCEEDS OF ANY SUCH DEBT AND THE REVENUE FROM SUCH TAXES, ANY OTHER REVENUE 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 5 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? BALLOT ISSUE H (Sanitation): SHALL WATERFRONT AT FOSTER LAKE METROPOLITAN DISTRICT NO. 2 DEBT BE INCREASED $10,000,000 WITH A REPAYMENT COST OF $30,000,000 OR SUCH LESSER AMOUNT AS MAY BE NECESSARY, AND SHALL WATERFRONT AT FOSTER LAKE METROPOLITAN DISTRICT NO. 2 TAXES BE INCREASED $10,000,000 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, FOR THE PURPOSE OF PAYING, LEASING, FINANCING OR REIMBURSING ALL OR ANY PART OF THE COSTS OF DESIGNING, ACQUIRING, CONSTRUCTING, RELOCATING, INSTALLING, COMPLETING AND OTHERWISE PROVIDING, WITHIN OR WITHOUT THE BOUNDARIES OF THE DISTRICT, A SANITATION SYSTEM WHICH MAY CONSIST OF STORM OR SANITARY SEWERS, OR BOTH, FLOOD AND SURFACE DRAINAGE, TREATMENT AND DISPOSAL WORKS AND FACILITIES, OR SOLID WASTE DISPOSAL FACILITIES OR WASTE SERVICES, AND ALL NECESSARY OR PROPER EQUIPMENT AND APPURTENANCES INCIDENT THERETO, INCLUDING BUT NOT LIMITED TO TREATMENT PLANTS AND FACILITIES, COLLECTION MAINS AND LATERALS, LIFT STATIONS, TRANSMISSION LINES, CANALS, SLUDGE HANDLING, REUSE AND DISPOSAL FACILITIES, AND/OR STORM SEWER, FLOOD AND SURFACE DRAINAGE FACILITIES AND SYSTEMS, INCLUDING DETENTION/RETENTION PONDS, BOX CULVERTS AND ASSOCIATED IRRIGATION FACILITIES, EQUIPMENT, LAND, EASEMENTS AND SEWER TAPS, AND EXTENSIONS OF AND IMPROVEMENTS TO SUCH FACILITIES, SUCH DEBT TO BEAR INTEREST AT A MAXIMUM NET EFFECTIVE INTEREST RATE NOT TO EXCEED 15% PER ANNUM, SUCH INTEREST TO BE PAYABLE AT SUCH TIME OR TIMES, AND WHICH MAY COMPOUND ANNUALLY OR SEMIANNUALLY, AND SUCH DEBT TO MATURE, BE SUBJECT TO REDEMPTION WITH OR WITHOUT PREMIUM, AND BE ISSUED AND SOLD AT, ABOVE OR BELOW PAR, 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 OR AMOUNT OR WITH SUCH LIMITATIONS, ALL OF THE ABOVE AS MAY BE DETERMINED BY THE DISTRICT BOARD OF DIRECTORS, TO BE USED FOR THE PURPOSE OF PAYING THE PRINCIPAL OF, PREMIUM IF ANY, AND INTEREST ON SUCH DEBT; AND SHALL THE PROCEEDS OF ANY SUCH DEBT AND THE REVENUE FROM SUCH TAXES, ANY OTHER REVENUE 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 6 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? BALLOT ISSUE I (Safety Protection): SHALL WATERFRONT AT FOSTER LAKE METROPOLITAN DISTRICT NO. 2 DEBT BE INCREASED $10,000,000 WITH A REPAYMENT COST OF $30,000,000 OR SUCH LESSER AMOUNT AS MAY BE NECESSARY, AND SHALL WATERFRONT AT FOSTER LAKE METROPOLITAN DISTRICT NO. 2 TAXES BE INCREASED $10,000,000 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, FOR THE PURPOSE OF PAYING, LEASING, FINANCING OR REIMBURSING ALL OR ANY PART OF THE COSTS OF DESIGNING, ACQUIRING, CONSTRUCTING, RELOCATING, INSTALLING, COMPLETING AND OTHERWISE PROVIDING, WITHIN OR WITHOUT THE BOUNDARIES OF THE DISTRICT, A SAFETY PROTECTION SYSTEM OF TRAFFIC AND SAFETY CONTROLS AND DEVICES ON STREETS AND HIGHWAYS AND AT RAILROAD CROSSINGS, INCLUDING BUT NOT LIMITED TO TRAFFIC SIGNALS AND SIGNAGE, AND CONSTRUCTING UNDERPASSES OR OVERPASSES AT RAILROAD CROSSINGS, 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 MAXIMUM NET EFFECTIVE INTEREST RATE NOT TO EXCEED 15% PER ANNUM, SUCH INTEREST TO BE PAYABLE AT SUCH TIME OR TIMES, AND WHICH MAY COMPOUND ANNUALLY OR SEMIANNUALLY, AND SUCH DEBT TO MATURE, BE SUBJECT TO REDEMPTION WITH OR WITHOUT PREMIUM, AND BE ISSUED AND SOLD AT, ABOVE OR BELOW PAR, 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 OR AMOUNT OR WITH SUCH LIMITATIONS, ALL OF THE ABOVE AS MAY BE DETERMINED BY THE DISTRICT BOARD OF DIRECTORS, TO BE USED FOR THE PURPOSE OF PAYING THE PRINCIPAL OF, PREMIUM IF ANY, AND INTEREST ON SUCH DEBT; AND SHALL THE PROCEEDS OF ANY SUCH DEBT AND THE REVENUE FROM SUCH TAXES, ANY OTHER REVENUE 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 7 YEAR THE AMOUNT OF OTHER REVENUES THAT MAY BE COLLECTED, RETAINED AND SPENT BY THE DISTRICT? BALLOT ISSUE J (Operations and Maintenance Debt): SHALL WATERFRONT AT FOSTER LAKE METROPOLITAN DISTRICT NO. 2 DEBT BE INCREASED $100,000 WITH A REPAYMENT COST OF $300,000 OR SUCH LESSER AMOUNT AS MAY BE NECESSARY, AND SHALL WATERFRONT AT FOSTER LAKE METROPOLITAN DISTRICT NO. 2 TAXES BE INCREASED $100,000 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, FOR THE PURPOSE OF PAYING, REIMBURSING, FINANCING OR REFINANCING ALL OR ANY PART OF THE DISTRICT'S OPERATING AND MAINTENANCE EXPENSES, OR ADVANCES OF OPERATING AND MAINTENANCE EXPENSES MADE TO THE DISTRICT, SUCH DEBT TO BEAR INTEREST AT A MAXIMUM NET EFFECTIVE INTEREST RATE NOT TO EXCEED 15% PER ANNUM, SUCH INTEREST TO BE PAYABLE AT SUCH TIME OR TIMES, AND WHICH MAY COMPOUND ANNUALLY OR SEMIANNUALLY, SUCH DEBT TO BE INCURRED AT ONE TIME OR FROM TIME TO TIME AND TO MATURE, BE SUBJECT TO REDEMPTION, WITH OR WITHOUT PREMIUM, AND BE ISSUED AND SOLD AT, ABOVE OR BELOW PAR, AND TO CONTAIN SUCH TERMS, NOT INCONSISTENT HEREWITH, AND BE MADE PAYABLE FROM ANY LEGALLY AVAILABLE REVENUES OF THE DISTRICT, INCLUDING WITHOUT LIMITATION AD VALOREM PROPERTY TAXES LEVIED IN ANY YEAR, WITHOUT LIMITATION AS TO RATE AND IN AN AMOUNT SUFFICIENT TO PAY THE PRINCIPAL OF, PREMIUM, IF ANY, AND INTEREST ON THE DEBT WHEN DUE, ALL OF THE ABOVE AS DETERMINED BY THE DISTRICT BOARD OF DIRECTORS, AND SHALL THE PROCEEDS OF THE DEBT, THE REVENUES FROM SUCH TAXES, ANY OTHER REVENUES USED TO PAY THE DEBT, 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? BALLOT ISSUE K(Refunding Debt): SHALL WATERFRONT AT FOSTER LAKE METROPOLITAN DISTRICT NO. 2 DEBT BE INCREASED $10,000,000 WITH A REPAYMENT COST OF $30,000,000 OR SUCH LESSER AMOUNT AS MAY BE NECESSARY, AND SHALL WATERFRONT AT FOSTER LAKE METROPOLITAN DISTRICT NO. 2 TAXES BE INCREASED $10,000,000 ANNUALLY OR SUCH LESSER AMOUNT AS MAY BE NECESSARY FOR THE PAYMENT OF SUCH DEBT AND ANY REFUNDINGS THEREOF, AT AN INTEREST 8 RATE THAT IS EQUAL TO, LOWER OR HIGHER THAN THE INTEREST RATE ON THE REFUNDED DEBT, FOR THE PURPOSE OF REFUNDING, REFINANCING OR DEFEASING ANY OR ALL OF THE DISTRICT'S DEBT, BUT NOT TO EXCEED THE MAXIMUM NET EFFECTIVE INTEREST RATE OF 15% PER ANNUM, SUCH INTEREST TO BE PAYABLE AT SUCH TIME OR TIMES, AND WHICH MAY COMPOUND ANNUALLY OR SEMIANNUALLY, AND SUCH DEBT TO MATURE, BE SUBJECT TO REDEMPTION WITH OR WITHOUT PREMIUM, AND BE ISSUED AND SOLD AT, ABOVE OR BELOW PAR, 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 OR AMOUNT OR WITH SUCH LIMITATIONS, ALL OF THE ABOVE AS MAY BE DETERMINED BY THE DISTRICT BOARD OF DIRECTORS, TO BE USED FOR THE PURPOSE OF PAYING THE PRINCIPAL OF, PREMIUM IF ANY, AND INTEREST ON SUCH DEBT; AND SHALL THE PROCEEDS OF ANY SUCH DEBT AND THE REVENUE FROM SUCH TAXES, ANY OTHER REVENUE 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? BALLOT ISSUE L (District Intergovernmental Agreements as Debt): SHALL WATERFRONT AT FOSTER LAKE METROPOLITAN DISTRICT NO. 2 DEBT BE INCREASED $10,000,000 WITH A REPAYMENT COST OF $30,000,000 OR SUCH LESSER AMOUNT AS MAY BE NECESSARY, AND SHALL WATERFRONT AT FOSTER LAKE METROPOLITAN DISTRICT NO. 2 TAXES BE INCREASED $10,000,000 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 9 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? BALLOT ISSUE M (Multi Fiscal Year IGA): SHALL WATERFRONT AT FOSTER LAKE METROPOLITAN DISTRICT NO. 2 BE AUTHORIZED TO ENTER INTO ONE OR MORE INTERGOVERNMENTAL AGREEMENTS WITH THE STATE OR ONE OR MORE POLITICAL SUBDIVISIONS 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 FINANCIAL 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 DISTRICT BOARD OF DIRECTORS? BALLOT QUESTION N: Shall Waterfront at Foster Lake Metropolitan District No. 2 be allowed to engage, offer to engage or contract with a private provider to engage in the provision of cable television service, telecommunications service or advanced service to subscribers within the District's service area, as such services are defined in Section 29-27-201, C.R.S.? 10 BALLOT QUESTION O: Shall members of the board of directors of Waterfront at Foster Lake Metropolitan District No. 2 be authorized to serve without limitation on their terms of office pursuant to the right granted to the voters of the District in Article XVIII, Section 11 of the Colorado Constitution to lengthen, shorten or eliminate the limitations on the terms of office imposed by such section? 11 DRAFT ELECTION QUESTIONS NOVEMBER 6, 2007 ELECTION WATERFRONT AT FOSTER LAKE METROPOLITAN DISTRICT NO. 3 BALLOT ISSUE A: SHALL WATERFRONT AT FOSTER LAKE METROPOLITAN DISTRICT NO. 3 TAXES BE INCREASED $200,000 ANNUALLY OR SUCH LESSER AMOUNT AS NECESSARY TO PAY THE DISTRICT'S ADMINISTRATION AND OPERATIONS AND MAINTENANCE EXPENSES, BY THE IMPOSITION OF AD VALOREM PROPERTY TAXES LEVIED IN ANY YEAR, WITHOUT LIMITATION AS TO RATE OR AMOUNT OR ANY OTHER CONDITION TO PAY SUCH EXPENSES AND SHALL THE PROCEEDS OF SUCH TAXES AND ANY INVESTMENT INCOME THEREON BE COLLECTED, RETAINED AND SPENT BY THE DISTRICT IN FISCAL YEAR 2008 AND IN EACH FISCAL YEAR THEREAFTER FOR AS LONG AS THE DISTRICT CONTINUES IN EXISTENCE, SUCH AUTHORIZATION TO CONSTITUTE A VOTER-APPROVED REVENUE CHANGE WHICH MAY BE COLLECTED, RETAINED AND SPENT BY THE DISTRICT WITHOUT REGARD TO ANY SPENDING, REVENUE-RAISING, OR OTHER LIMITATION CONTAINED IN 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 ANY YEAR THE AMOUNT OF OTHER REVENUES THAT MAY BE COLLECTED, RETAINED AND SPENT BY THE DISTRICT? BALLOT ISSUE B: SHALL WATERFRONT AT FOSTER LAKE METROPOLITAN DISTRICT NO. 3 TAXES BE INCREASED $200,000 ANNUALLY OR SUCH LESSER AMOUNT AS NECESSARY TO PAY THE DISTRICT'S ADMINISTRATION AND OPERATIONS AND MAINTENANCE EXPENSES, BY THE IMPOSITION OF A FEE OR FEES IMPOSED, WITHOUT LIMITATION AS TO RATE OR AMOUNT OR ANY OTHER CONDITION TO PAY SUCH EXPENSES AND SHALL THE PROCEEDS OF SUCH FEES AND ANY INVESTMENT INCOME THEREON BE COLLECTED, RETAINED AND SPENT BY THE DISTRICT IN FISCAL YEAR 2008 AND IN EACH FISCAL YEAR THEREAFTER FOR AS LONG AS THE DISTRICT CONTINUES IN EXISTENCE, SUCH AUTHORIZATION TO CONSTITUTE A VOTER-APPROVED REVENUE CHANGE WHICH MAY BE COLLECTED, RETAINED AND SPENT BY THE DISTRICT WITHOUT REGARD TO ANY SPENDING, REVENUE-RAISING, OR OTHER LIMITATION CONTAINED IN 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 ANY YEAR THE AMOUNT OF OTHER REVENUES THAT MAY BE COLLECTED, RETAINED AND SPENT BY THE DISTRICT? BALLOT ISSUE C: SHALL WATERFRONT AT FOSTER LAKE METROPOLITAN DISTRICT NO. 3 TAXES BE INCREASED $3,000,000 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, AND SHALL THE PROCEEDS OF SUCH TAXES AND ANY INVESTMENT INCOME THEREON BE COLLECTED, RETAINED AND SPENT BY THE DISTRICT IN FISCAL YEAR 2008 AND IN EACH FISCAL YEAR THEREAFTER FOR AS LONG AS THE DISTRICT CONTINUES IN EXISTENCE, SUCH AUTHORIZATION TO CONSTITUTE A VOTER-APPROVED REVENUE CHANGE WHICH MAY BE COLLECTED, RETAINED AND SPENT BY THE DISTRICT WITHOUT REGARD TO ANY SPENDING, REVENUE-RAISING, OR OTHER LIMITATION CONTAINED IN 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 ANY YEAR THE AMOUNT OF OTHER REVENUES THAT MAY BE COLLECTED, RETAINED AND SPENT BY THE DISTRICT? BALLOT ISSUE D: SHALL WATERFRONT AT FOSTER LAKE METROPOLITAN DISTRICT NO. 3 BE AUTHORIZED TO COLLECT, RETAIN, AND SPEND THE FULL AMOUNT OF ALL TAXES, TAX INCREMENT REVENUES, PARK FEES, FACILITY FEES, SERVICE CHARGES, INSPECTION CHARGES, ADMINISTRATIVE CHARGES, GRANTS OR ANY OTHER FEE, RATE, TOLL, PENALTY, OR CHARGE AUTHORIZED BY LAW OR CONTRACT TO BE IMPOSED, COLLECTED OR RECEIVED BY THE DISTRICT DURING 2008 AND EACH FISCAL YEAR THEREAFTER, SUCH AMOUNTS TO CONSTITUTE A VOTER-APPROVED REVENUE CHANGE AND BE COLLECTED, RETAINED AND SPENT BY THE DISTRICT WITHOUT REGARD TO ANY SPENDING, REVENUE-RAISING, OR OTHER LIMITATION CONTAINED IN 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 SUBSEQUENT 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, AND WITHOUT LIMITING IN ANY YEAR THE AMOUNT OF OTHER REVENUES THAT MAY BE COLLECTED, RETAINED AND SPENT BY THE DISTRICT? 2 BALLOT ISSUE E (Street Improvements): SHALL WATEFRONT AT FOSTER LAKE METROPOLITAN DISTRICT NO. 3 DEBT BE INCREASED $3,000,000 WITH A REPAYMENT COST OF $9,000,000 OR SUCH LESSER AMOUNT AS MAY BE NECESSARY, AND SHALL WATERFRONT AT FOSTER LAKE METROPOLITAN DISTRICT NO. 3 TAXES BE INCREASED $3,000,000 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, FOR THE PURPOSE OF PAYING, LEASING, FINANCING OR REIMBURSING ALL OR ANY PART OF THE COSTS OF DESIGNING, 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, AND OTHER DRAINAGE FACILITIES, UNDERGROUND CONDUITS, SIDEWALKS, TRAILS, PUBLIC PARKING LOTS, STRUCTURES AND FACILITIES, PAVING, LIGHTING, GRADING, LANDSCAPING, BIKE PATHS AND PEDESTRIAN WAYS, PEDESTRIAN OVERPASSES, RETAINING WALLS, FENCING, ENTRY MONUMENTATION, STREETSCAPING, BRIDGES, OVERPASSES, UNDERPASSES, INTERCHANGES, MEDIAN ISLANDS, IRRIGATION, AND A SAFETY PROTECTION SYSTEM THROUGH TRAFFIC AND SAFETY CONTROLS AND DEVICES ON STREETS AND HIGHWAYS AND AT RAILROAD CROSSINGS, SIGNALIZATION, SIGNING AND STRIPING, AREA IDENTIFICATION, DRIVER INFORMATION AND DIRECTIONAL ASSISTANCE SIGNS, TOGETHER WITH ALL NECESSARY, INCIDENTAL, AND APPURTENANT FACILITIES, EQUIPMENT, LAND AND EASEMENTS AND EXTENSIONS OF AND IMPROVEMENTS TO SUCH FACILITIES, SUCH DEBT TO BEAR INTEREST AT A MAXIMUM NET EFFECTIVE INTEREST RATE NOT TO EXCEED 15% PER ANNUM, SUCH INTEREST TO BE PAYABLE AT SUCH TIME OR TIMES, AND WHICH MAY COMPOUND ANNUALLY OR SEMIANNUALLY, AND SUCH DEBT TO MATURE, BE SUBJECT TO REDEMPTION WITH OR WITHOUT PREMIUM, AND BE ISSUED AND SOLD AT, ABOVE OR BELOW PAR, 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 OR AMOUNT OR WITH SUCH LIMITATIONS, ALL OF THE ABOVE AS MAY BE DETERMINED BY THE DISTRICT BOARD OF DIRECTORS, TO BE USED FOR THE PURPOSE OF PAYING THE PRINCIPAL OF, PREMIUM IF ANY, AND INTEREST ON SUCH DEBT; AND SHALL THE PROCEEDS OF ANY SUCH DEBT AND THE REVENUE FROM SUCH TAXES, ANY OTHER REVENUE 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 3 LIMITING IN ANY YEAR THE AMOUNT OF OTHER REVENUES THAT MAY BE COLLECTED, RETAINED AND SPENT BY THE DISTRICT? BALLOT ISSUE F (Parks and Recreation): SHALL WATERFRONT AT FOSTER LAKE METROPOLITAN DISTRICT NO. 3 DEBT BE INCREASED $3,000,000 WITH A REPAYMENT COST OF $9,000,000 OR SUCH LESSER AMOUNT AS MAY BE NECESSARY, AND SHALL WATERFRONT AT FOSTER LAKE METROPOLITAN DISTRICT NO. 3 TAXES BE INCREASED $3,000,000 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, FOR THE PURPOSE OF PAYING, LEASING, FINANCING OR REIMBURSING ALL OR ANY PART OF THE COSTS OF DESIGNING, ACQUIRING, CONSTRUCTING, RELOCATING, INSTALLING, COMPLETING AND OTHERWISE PROVIDING, WITHIN OR WITHOUT THE BOUNDARIES OF THE DISTRICT, PARKS AND RECREATION FACILITIES, IMPROVEMENTS AND PROGRAMS, INCLUDING BUT NOT LIMITED TO COMMUNITY PARKS, BIKE PATHS AND PEDESTRIAN WAYS, FENCING, TRAILS, REGIONAL TRAILS, FIELDS, TOT LOTS, OPEN SPACE, CULTURAL ACTIVITIES, COMMON AREAS, COMMUNITY RECREATION CENTERS, TENNIS COURTS, OUTDOOR LIGHTING, EVENT FACILITIES, IRRIGATION FACILITIES, LAKES, WATER BODIES, SWIMMING POOLS, PUBLIC FOUNTAINS AND SCULPTURES, ART, GARDENS, LANDSCAPING, WEED CONTROL, AND OTHER ACTIVE AND PASSIVE RECREATIONAL FACILITIES, IMPROVEMENTS AND PROGRAMS, 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 MAXIMUM NET EFFECTIVE INTEREST RATE NOT TO EXCEED 15% PER ANNUM, SUCH INTEREST TO BE PAYABLE AT SUCH TIME OR TIMES, AND WHICH MAY COMPOUND ANNUALLY OR SEMIANNUALLY, AND SUCH DEBT TO MATURE, BE SUBJECT TO REDEMPTION WITH OR WITHOUT PREMIUM, AND BE ISSUED AND SOLD AT, ABOVE OR BELOW PAR, 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 OR AMOUNT OR WITH SUCH LIMITATIONS, ALL OF THE ABOVE AS MAY BE DETERMINED BY THE DISTRICT BOARD OF DIRECTORS, TO BE USED FOR THE PURPOSE OF PAYING THE PRINCIPAL OF, PREMIUM IF ANY, AND INTEREST ON SUCH DEBT; AND SHALL THE PROCEEDS OF ANY SUCH DEBT AND THE REVENUE FROM SUCH TAXES, ANY OTHER REVENUE 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 4 YEAR THE AMOUNT OF OTHER REVENUES THAT MAY BE COLLECTED, RETAINED AND SPENT BY THE DISTRICT? BALLOT ISSUE G (Water): SHALL WATERFRONT AT FOSTER LAKE METROPOLITAN DISTRICT NO. 3 DEBT BE INCREASED $3,000,000 WITH A REPAYMENT COST OF $9,000,000 OR SUCH LESSER AMOUNT AS MAY BE NECESSARY, AND SHALL WATERFRONT AT FOSTER LAKE METROPOLITAN DISTRICT NO. 3 TAXES BE INCREASED $3,000,000 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, FOR THE PURPOSE OF PAYING, LEASING, FINANCING OR REIMBURSING ALL OR ANY PART OF THE COSTS OF DESIGNING, ACQUIRING, CONSTRUCTING, RELOCATING, INSTALLING, COMPLETING AND OTHERWISE PROVIDING, WITHIN OR WITHOUT THE BOUNDARIES OF THE DISTRICT, A POTABLE AND NON-POTABLE WATER SUPPLY, STORAGE, TRANSMISSION AND DISTRIBUTION SYSTEM FOR DOMESTIC AND OTHER PUBLIC AND PRIVATE PURPOSES BY ANY AVAILABLE MEANS, AND TO PROVIDE ALL NECESSARY OR PROPER TREATMENT WORKS AND FACILITIES, EQUIPMENT, AND APPURTENANCES INCIDENT THERETO, INCLUDING BUT NOT LIMITED TO WELLS, WATER PUMPS, WATER LINES, WATER FEATURES, PURIFICATION PLANTS, PUMP STATIONS, TRANSMISSION LINES, DISTRIBUTION MAINS AND LATERALS, FIRE HYDRANTS, METERS, WATER TAPS, IRRIGATION FACILITIES, CANALS, DITCHES, WATER RIGHTS, FLUMES, PARTIAL FLUMES, HEADGATES, DROP STRUCTURES, STORAGE RESERVOIRS AND FACILITIES, 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 MAXIMUM NET EFFECTIVE INTEREST RATE NOT TO EXCEED 15% PER ANNUM, SUCH INTEREST TO BE PAYABLE AT SUCH TIME OR TIMES, AND WHICH MAY COMPOUND ANNUALLY OR SEMIANNUALLY, AND SUCH DEBT TO MATURE, BE SUBJECT TO REDEMPTION WITH OR WITHOUT PREMIUM, AND BE ISSUED AND SOLD AT, ABOVE OR BELOW PAR, 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 OR AMOUNT OR WITH SUCH LIMITATIONS, ALL OF THE ABOVE AS MAY BE DETERMINED BY THE DISTRICT BOARD OF DIRECTORS, TO BE USED FOR THE PURPOSE OF PAYING THE PRINCIPAL OF, PREMIUM IF ANY, AND INTEREST ON SUCH DEBT; AND SHALL THE PROCEEDS OF ANY SUCH DEBT AND THE REVENUE FROM SUCH TAXES, ANY OTHER REVENUE 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 5 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? BALLOT ISSUE H (Sanitation): SHALL WATERFRONT AT FOSTER LAKE METROPOLITAN DISTRICT NO. 3 DEBT BE INCREASED $3,000,000 WITH A REPAYMENT COST OF $9,000,000 OR SUCH LESSER AMOUNT AS MAY BE NECESSARY, AND SHALL WATERFRONT AT FOSTER LAKE METROPOLITAN DISTRICT NO. 3 TAXES BE INCREASED $3,000,000 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, FOR THE PURPOSE OF PAYING, LEASING, FINANCING OR REIMBURSING ALL OR ANY PART OF THE COSTS OF DESIGNING, ACQUIRING, CONSTRUCTING, RELOCATING, INSTALLING, COMPLETING AND OTHERWISE PROVIDING, WITHIN OR WITHOUT THE BOUNDARIES OF THE DISTRICT, A SANITATION SYSTEM WHICH MAY CONSIST OF STORM OR SANITARY SEWERS, OR BOTH, FLOOD AND SURFACE DRAINAGE, TREATMENT AND DISPOSAL WORKS AND FACILITIES, OR SOLID WASTE DISPOSAL FACILITIES OR WASTE SERVICES, AND ALL NECESSARY OR PROPER EQUIPMENT AND APPURTENANCES INCIDENT THERETO, INCLUDING BUT NOT LIMITED TO TREATMENT PLANTS AND FACILITIES, COLLECTION MAINS AND LATERALS, LIFT STATIONS, TRANSMISSION LINES, CANALS, SLUDGE HANDLING, REUSE AND DISPOSAL FACILITIES, AND/OR STORM SEWER, FLOOD AND SURFACE DRAINAGE FACILITIES AND SYSTEMS, INCLUDING DETENTION/RETENTION PONDS, BOX CULVERTS AND ASSOCIATED IRRIGATION FACILITIES, EQUIPMENT, LAND, EASEMENTS AND SEWER TAPS, AND EXTENSIONS OF AND IMPROVEMENTS TO SUCH FACILITIES, SUCH DEBT TO BEAR INTEREST AT A MAXIMUM NET EFFECTIVE INTEREST RATE NOT TO EXCEED 15% PER ANNUM, SUCH INTEREST TO BE PAYABLE AT SUCH TIME OR TIMES, AND WHICH MAY COMPOUND ANNUALLY OR SEMIANNUALLY, AND SUCH DEBT TO MATURE, BE SUBJECT TO REDEMPTION WITH OR WITHOUT PREMIUM, AND BE ISSUED AND SOLD AT, ABOVE OR BELOW PAR, 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 OR AMOUNT OR WITH SUCH LIMITATIONS, ALL OF THE ABOVE AS MAY BE DETERMINED BY THE DISTRICT BOARD OF DIRECTORS, TO BE USED FOR THE PURPOSE OF PAYING THE PRINCIPAL OF, PREMIUM IF ANY, AND INTEREST ON SUCH DEBT; AND SHALL THE PROCEEDS OF ANY SUCH DEBT AND THE REVENUE FROM SUCH TAXES, ANY OTHER REVENUE 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 6 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? BALLOT ISSUE I (Safety Protection): SHALL WATERFRONT AT FOSTER LAKE METROPOLITAN DISTRICT NO. 3 DEBT BE INCREASED $3,000,000 WITH A REPAYMENT COST OF $9,000,000 OR SUCH LESSER AMOUNT AS MAY BE NECESSARY, AND SHALL WATERFRONT AT FOSTER LAKE METROPOLITAN DISTRICT NO. 3 TAXES BE INCREASED $3,000,000 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, FOR THE PURPOSE OF PAYING, LEASING, FINANCING OR REIMBURSING ALL OR ANY PART OF THE COSTS OF DESIGNING, ACQUIRING, CONSTRUCTING, RELOCATING, INSTALLING, COMPLETING AND OTHERWISE PROVIDING, WITHIN OR WITHOUT THE BOUNDARIES OF THE DISTRICT, A SAFETY PROTECTION SYSTEM OF TRAFFIC AND SAFETY CONTROLS AND DEVICES ON STREETS AND HIGHWAYS AND AT RAILROAD CROSSINGS, INCLUDING BUT NOT LIMITED TO TRAFFIC SIGNALS AND SIGNAGE, AND CONSTRUCTING UNDERPASSES OR OVERPASSES AT RAILROAD CROSSINGS, 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 MAXIMUM NET EFFECTIVE INTEREST RATE NOT TO EXCEED 15% PER ANNUM, SUCH INTEREST TO BE PAYABLE AT SUCH TIME OR TIMES, AND WHICH MAY COMPOUND ANNUALLY OR SEMIANNUALLY, AND SUCH DEBT TO MATURE, BE SUBJECT TO REDEMPTION WITH OR WITHOUT PREMIUM, AND BE ISSUED AND SOLD AT, ABOVE OR BELOW PAR, 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 OR AMOUNT OR WITH SUCH LIMITATIONS, ALL OF THE ABOVE AS MAY BE DETERMINED BY THE DISTRICT BOARD OF DIRECTORS, TO BE USED FOR THE PURPOSE OF PAYING THE PRINCIPAL OF, PREMIUM IF ANY, AND INTEREST ON SUCH DEBT; AND SHALL THE PROCEEDS OF ANY SUCH DEBT AND THE REVENUE FROM SUCH TAXES, ANY OTHER REVENUE 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? 7 BALLOT ISSUE J (Operations and Maintenance Debt): SHALL WATERFRONT AT FOSTER LAKE METROPOLITAN DISTRICT NO. 3 DEBT BE INCREASED $100,000 WITH A REPAYMENT COST OF $300,000 OR SUCH LESSER AMOUNT AS MAY BE NECESSARY, AND SHALL WATERFRONT AT FOSTER LAKE METROPOLITAN DISTRICT NO. 3 TAXES BE INCREASED $100,000 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, FOR THE PURPOSE OF PAYING, REIMBURSING, FINANCING OR REFINANCING ALL OR ANY PART OF THE DISTRICT'S OPERATING AND MAINTENANCE EXPENSES, OR ADVANCES OF OPERATING AND MAINTENANCE EXPENSES MADE TO THE DISTRICT, SUCH DEBT TO BEAR INTEREST AT A MAXIMUM NET EFFECTIVE INTEREST RATE NOT TO EXCEED 15% PER ANNUM, SUCH INTEREST TO BE PAYABLE AT SUCH TIME OR TIMES, AND WHICH MAY COMPOUND ANNUALLY OR SEMIANNUALLY, SUCH DEBT TO BE INCURRED AT ONE TIME OR FROM TIME TO TIME AND TO MATURE, BE SUBJECT TO REDEMPTION, WITH OR WITHOUT PREMIUM, AND BE ISSUED AND SOLD AT, ABOVE OR BELOW PAR, AND TO CONTAIN SUCH TERMS, NOT INCONSISTENT HEREWITH, AND BE MADE PAYABLE FROM ANY LEGALLY AVAILABLE REVENUES OF THE DISTRICT, INCLUDING WITHOUT LIMITATION AD VALOREM PROPERTY TAXES LEVIED IN ANY YEAR, WITHOUT LIMITATION AS TO RATE AND IN AN AMOUNT SUFFICIENT TO PAY THE PRINCIPAL OF, PREMIUM, IF ANY, AND INTEREST ON THE DEBT WHEN DUE, ALL OF THE ABOVE AS DETERMINED BY THE DISTRICT BOARD OF DIRECTORS, AND SHALL THE PROCEEDS OF THE DEBT, THE REVENUES FROM SUCH TAXES, ANY OTHER REVENUES USED TO PAY THE DEBT, 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? BALLOT ISSUE K(Refunding Debt): SHALL WATERFRONT AT FOSTER LAKE METROPOLITAN DISTRICT NO. 3 DEBT BE INCREASED $3,000,000 WITH A REPAYMENT COST OF $9,000,000 OR SUCH LESSER AMOUNT AS MAY BE NECESSARY, AND SHALL WATERFRONT AT FOSTER LAKE METROPOLITAN DISTRICT NO. 3 TAXES BE INCREASED $3,000,000 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, FOR 8 THE PURPOSE OF REFUNDING, REFINANCING OR DEFEASING ANY OR ALL OF THE DISTRICT'S DEBT, BUT NOT TO EXCEED THE MAXIMUM NET EFFECTIVE INTEREST RATE OF 15% PER ANNUM, SUCH INTEREST TO BE PAYABLE AT SUCH TIME OR TIMES, AND WHICH MAY COMPOUND ANNUALLY OR SEMIANNUALLY, AND SUCH DEBT TO MATURE, BE SUBJECT TO REDEMPTION WITH OR WITHOUT PREMIUM, AND BE ISSUED AND SOLD AT, ABOVE OR BELOW PAR, 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 OR AMOUNT OR WITH SUCH LIMITATIONS, ALL OF THE ABOVE AS MAY BE DETERMINED BY THE DISTRICT BOARD OF DIRECTORS, TO BE USED FOR THE PURPOSE OF PAYING THE PRINCIPAL OF, PREMIUM IF ANY, AND INTEREST ON SUCH DEBT; AND SHALL THE PROCEEDS OF ANY SUCH DEBT AND THE REVENUE FROM SUCH TAXES, ANY OTHER REVENUE 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? BALLOT ISSUE L (District Intergovernmental Agreements as Debt): SHALL WATERFRONT AT FOSTER LAKE METROPOLITAN DISTRICT NO. 3 DEBT BE INCREASED $3,000,000 WITH A REPAYMENT COST OF $9,000,000 OR SUCH LESSER AMOUNT AS MAY BE NECESSARY, AND SHALL WATERFRONT AT FOSTER LAKE METROPOLITAN DISTRICT NO. 3 TAXES BE INCREASED $3,000,000 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 9 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? BALLOT ISSUE M (Multi Fiscal Year IGA): SHALL WATERFRONT AT FOSTER LAKE METROPOLITAN DISTRICT NO. 3 BE AUTHORIZED TO ENTER INTO ONE OR MORE INTERGOVERNMENTAL AGREEMENTS WITH THE STATE OR ONE OR MORE POLITICAL SUBDIVISIONS 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 FINANCIAL 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 DISTRICT BOARD OF DIRECTORS? BALLOT QUESTION N: Shall Waterfront at Foster Lake Metropolitan District No. 3 be allowed to engage, offer to engage or contract with a private provider to engage in the provision of cable television service, telecommunications service or advanced service to subscribers within the District's service area, as such services are defined in Section 29-27-201, C.R.S.? BALLOT QUESTION O: Shall members of the board of directors of Waterfront at Foster Lake Metropolitan District No. 3 be authorized to serve without limitation on their terms of office pursuant to the right granted to 10 the voters of the District in Article XVIII, Section 11 of the Colorado Constitution to lengthen, shorten or eliminate the limitations on the terms of office imposed by such section? 11 Page 1 of 2 Esther Gesick From: Susan J. Schledorn [sjs@grimshawharring.com] Sent: Friday, July 27, 2007 5:05 PM To: Esther Gesick Cc: Leslie H. Larsen Subject: RE: Legal Notice -(Proposed)Waterfront at Foster Lake Metro District Nos. 1-3 Attachments: Cert Maiiling Service Plan.pdf Esther, I don't believe we have received the publisher's affidavit. Leslie in our office will check on it with the newspaper on Monday and e-mail a copy to you at that time. Attached is the Certificate of Mailing the notice of the service plan hearing to the property owners and the governmental entities. Thank you, Susan J. Schledorn, Paralegal Grimshaw& Harring, P.C. 1700 Lincoln Street, Suite 3800 Denver, Colorado 80203-4538 Main Office Line: 303-839-3800 Direct Line: 303-839-3912 Telefax: 303-839-3838 From: Esther Gesick [mailto:egesick@co.weld.co.us] Sent: Friday, July 27, 2007 4:37 PM To: Susan J. Schledorn Subject: RE: Legal Notice - (Proposed) Waterfront at Foster Lake Metro District Nos. 1-3 Hi Susan, I have received a complete case file and recommendation back from the Planning Department for the Waterfront at Foster Lake Metro Districts. I think the only remaining item I need before we scan is a copy of the newspaper affidavit for the 8/8 Hearing Notice. If you have received it, would you mind sending me a scanned or faxed copy? Thanks! Esther E. Gesick Deputy Clerk to the Board 915 10th Street Greeley, CO 80631 (970)356-4000 X4226 (970)352-0242 (fax) From: Susan J. Schledorn [mailto:sjs@grimshawharring.com] Sent: Tuesday, July 03, 2007 4:39 PM To: mwlegals@indra.com Cc: Marcus A. McAskin; Esther Gesick Subject: Legal Notice - (Proposed) Waterfront at Foster Lake Metro District Nos. 1-3 Bobbi, Attached is a Notice of Hearing for the proposed Waterfront at Foster Lake Metropoltian District Nos. 1-3 which we request that you publish in the Fort Lupton Press on Wednseday, July 11, 2007. When the publication is completed, please forward the publisher's affidavit and your statement to our office. EXHIBIT 7/31/2007 I F SD oraa Page 2 of 2 To confirm receipt of the notice, please respond to this e-mail. Thank you. Susan J. Schledorn, Paralegal Grimshaw& Harring, P.C. 1700 Lincoln Street, Suite 3800 Denver, Colorado 80203-4538 Main Office Line: 303-839-3800 Direct Line: 303-839-3912 Telefax: 303-839-3838 7/31/2007 Page 1 of 2 Esther Gesick From: Marcus A. McAskin [mcaskin@grimshawharring.com] Sent: Wednesday, August 01, 2007 3:03 PM To: Esther Gesick Subject: FW: Legal Notice- (Proposed)Waterfront at Foster Lake Metro District Nos. 1-3 Esther: We've decided to delay the BOCC public hearing on the Waterfront Districts due to the fact that publication of the hearing date and time did not timely occur. Kim Ogle should be contacting you re alternative BOCC hearing dates. I need a date/time for a public hearing on or after Wed, Aug 29, in order to properly coordinate publication with the Ft Lupton Press. Thanks - Marcus From: Marcus A. McAskin Sent: Monday, July 30, 2007 10:37 AM To: 'Esther Gesick' Cc: Leslie H. Larsen; Susan J. Schledorn Subject: RE: Legal Notice - (Proposed) Waterfront at Foster Lake Metro District Nos. 1-3 Esther: Publication of the hearing date will occur in the Ft Lupton Press this Wednesday, 8/1. Therefore, this office will forward you the publisher's affidavit on Thurs or Friday this week. Unfortunately, there was a mix up in getting the notice of public hearing published on July 11 (as originally planned). In your email to this office of June 1, you included an email for Bobbi at the Ft Lupton Press that hasn't been in use (according to Bobbi)for a couple of years. So, Bobbi never received the request for publication. She's got it now, and it will be published the day after tomorrow. For your records, Bobbi is now using the following email address: blopez@metrowestnewspapers.com' The purpose of the publication of the date and time of the BOCC's public hearing on the service plan for the proposed districts (per Section 32-1-204(1), C.R.S.) is the provision of"constructive notice"to residents and property owners within the boundaries of the proposed districts. In this case, there are only two property owners within the boundaries of the proposed districts, and they have received actual letter notification of the public hearing date as indicated by the attached cert of mailing. This file was previously forwarded to you this past Friday. Based on this, I don't foresee any issue with having the BOCC conduct the hearing on August 8th, even though notice wasn't published until August 1. If you have any questions, pls feel free to call or email. Marcus McAskin 303-839-3852 From: Esther Gesick [mailto:egesick@co.weld.co.us] Sent: Friday, July 27, 2007 4:37 PM EXHIBIT 8/1/2007 Sbot32 Page 2 of 2 To: Susan J. Schledorn Subject: RE: Legal Notice - (Proposed) Waterfront at Foster Lake Metro District Nos. 1-3 Hi Susan, I have received a complete case file and recommendation back from the Planning Department for the Waterfront at Foster Lake Metro Districts. I think the only remaining item I need before we scan is a copy of the newspaper affidavit for the 8/8 Hearing Notice. If you have received it, would you mind sending me a scanned or faxed copy? Thanks! Esther E. Gesick Deputy Clerk to the Board 915 10th Street Greeley, CO 80631 (970)356-4000 X4226 (970)352-0242(fax) From: Susan J. Schledorn [mailto:sjs@grimshawharring.com] Sent: Tuesday, July 03, 2007 4:39 PM To: mwlegals@indra.com Cc: Marcus A. McAskin; Esther Gesick Subject: Legal Notice - (Proposed) Waterfront at Foster Lake Metro District Nos. 1-3 Bobbi, Attached is a Notice of Hearing for the proposed Waterfront at Foster Lake Metropoltian District Nos. 1-3 which we request that you publish in the Fort Lupton Press on Wednseday, July 11, 2007. When the publication is completed, please forward the publisher's affidavit and your statement to our office. To confirm receipt of the notice, please respond to this e-mail. Thank you. Susan J. Schledorn, Paralegal Grimshaw& Harring, P.C. 1700 Lincoln Street, Suite 3800 Denver, Colorado 80203-4538 Main Office Line: 303-839-3800 Direct Line: 303-839-3912 Telefax: 303-839-3838 8/1/2007 Page 1 of 1 Esther Gesick From: Marcus A. McAskin [mcaskin@grimshawharring.com] Sent: Wednesday, August 01, 2007 3:47 PM To: Bruce Barker Cc: Esther Gesick Subject: Waterfront Districts Attachments: Resolution -Waterfront Sery Plan v2.doc; WSComparison_Resolution -Waterfront Sery Plan- Resolution -Waterfront Sery Plan v2.doc Mr. Barker: Due to a publishing snafu, this office has requested that the public hearing on the Waterfront service plan be rescheduled for Wed, August 29th at 9AM. This date and time has been confirmed with Kim Ogle and Esther Gesick. The attached proposed resolution therefore replaces the one emailed to you yesterday. I have also attached a blackline version so that you may more easily track the changes made. If you have any questions, pls feel free to call or email. Marcus A.McAskin Grimshaw&Harring,P.C. 1700 Lincoln Street, Suite 3800 Denver,CO 80203 Direct: 303-839-3852 Fax: 303-839-3838 EXHIBIT 1 N SDO132 8/2/2007 Esther Gesick -From: Bruce Barker ant: Thursday, August 09, 2007 2:14 PM i o: Marcus A. McAskin Cc: Esther Gesick; Kim Ogle Subject: RE: Waterfront Districts Marcus: Esther reminded me that I had not responded yet to this e-mail. The resolution looks fine. Please do send me copies of the draft IGA's. Thanks! Bruce. Original Message From: Marcus A. McAskin [mailto:mcaskin@grimshawharring.com] Sent: Thursday, August 02, 2007 2:28 PM To: Bruce Barker Cc: Esther Gesick; Kim Ogle Subject: RE: Waterfront Districts Mr. Barker: Clean and blackline of the resolution attached for your review. Per your request, language has been added to Section 4.B. of the resolution. If you would like to see draft versions of the referenced IGAs, pls advise. St Vrain Sanitation District (SVSD) and Longs Peak Water District (LPWD) are scheduled to act on ^-he overlap consent resolutions on Aug 15th and Aug 16th, respectively. With respect to your first question, I do not believe that the resolution needs to be conditioned on a change of svc area by the NFRWQPA. By inclusion order dated on or about May 22, 2007, the property within the boundaries of the proposed Waterfront districts was included into the boundaries of SVSD, and SVSD is a member agency of NFRWQPA. However, if you have different information about why NRFWQPA would need to be involved at this point, pls call or email. Marcus McAskin 303-839-3852 Original Message From: Bruce Barker [mailto:bbarker@co.weld.co.us] Sent: Thursday, August 02, 2007 11:03 AM To: Marcus A. McAskin Cc: Esther Gesick; Kim Ogle Subject: RE: Waterfront Districts Marcus: Generally, the resolution looks good. 2 things: 1) Does this need to be conditioned upon a change of service area approved by the ' "FRWQPA? 2) I would like 4 .B. to include a general statement as to what the IGA's the Board is requiring would entail. EXHIBIT 1 1 SDo,32 Thanks for your work on this. Please feel free to call me at (970) 356-4000,ext. 4390, if you wish to discuss. Bruce Barker. ----Original Message From: Marcus A. McAskin [mailto:mcaskin©grimshawharring.com] Sent: Wednesday, August 01, 2007 3 :47 PM To: Bruce Barker Cc: Esther Gesick Subject: Waterfront Districts Mr. Barker: Due to a publishing snafu, this office has requested that the public hearing on the Waterfront service plan be rescheduled for Wed, August 29th at 9AM. This date and time has been confirmed with Kim Ogle and Esther Gesick. The attached proposed resolution therefore replaces the one emailed to you yesterday. I have also attached a blackline version so that you may more easily track the changes made. If you have any questions, pls feel free to call or email. Marcus A. McAskin Grimshaw & Barring, P.C. 1700 Lincoln Street, Suite 3800 Denver, CO 80203 Direct: 303-839-3852 Fax: 303-839-3838 2 INTERGOVERNMENTAL AGREEMENT BETWEEN WATERFRONT AT FOSTER LAKE METROPOLITAN DISTRICT NOS. 1 - 3 AND ST. VRAIN SANITATION DISTRICT 1. PARTIES. The Parties to this Agreement are the WATERFRONT AT FOSTER LAKE METROPOLITAN DISTRICT NOS. 1 - 3 (Metro Districts) and the ST. VRAIN SANITATION DISTRICT (District). 2. RECITALS. Metro Districts were organized in order to finance, construct and provide public improvements to serve the Waterfront at Foster Lake development (the Project) located within Metro Districts' boundaries as contemplated in the Metro Districts' Service Plan (the Service Plan). The Project is included within the District's boundaries and therefore the Metro Districts are deemed "overlapping Districts" pursuant to Sec. 32-1-107, C.R.S. The Service Plan contemplates the financing and construction of certain sanitary sewer system improvements as may be necessary for providing sanitary sewer service to the Project, which will be dedicated to the District. The sanitary sewer improvements to be provided by Metro Districts will not duplicate or interfere with any other improvements or facilities already constructed or planned within the overlap area. The Board of Directors of the District consents to Metro Districts providing some of the same services as limited by the Service Plan and further subject to the terms and conditions of this Agreement and the Board's order of inclusion entered on March 21, 2007, which order was subsequently approved by the Weld County District Court on April 10, 2007 (Case No. 85 CV 1166). There is no current or planned duplication or interference of services and the District's consent to the overlap is conditioned upon the Parties entering into this Agreement. Accordingly, in consideration of the mutual promises set forth in this Agreement, the Parties covenant and agree as follows: 3. TERMS OF CONSENT TO OVERLAP. 3.1 Sole Sanitation Provider. The District shall provide and otherwise make sanitary sewer services available to Metro Districts' residents and property within their boundaries subject to the then existing capacity, rules, and regulations of the District, including the execution of applicable subdivision service agreements, and subject to any limitations or restrictions imposed by any governmental entity or agency having jurisdiction over the District. The District shall be the sole provider of sanitary sewer services for residents and property within Metro Districts' boundaries. Metro Districts shall not contract for or otherwise obtain any interconnections with any third party that would allow users within the boundaries of Metro Districts to obtain such service from any other sanitary sewer provider, or that would allow third parties outside of the boundaries of Metro Districts to utilize the District's services or facilities. Nothing in this Agreement shall be construed as an obligation by the District to reserve for the benefit of the developers of the Project (or any individual property owner) any specific number of tap connections absent such additional agreements. EXHIBIT ► 132 3.2 Taps and Interconnections. Metro Districts are prohibited from selling any taps or connections or from authorizing any interconnections or other connections with Metro Districts. All sanitation users within Metro Districts shall purchase their taps from the District. 3.3 Sanitation Treatment Plant. Metro Districts shall not construct, finance, or otherwise provide for any sanitation treatment plant within or without Metro Districts' boundaries. Metro Districts shall not agree to or otherwise enter into any contract with any other sanitation provider or entity, other than the District, for the construction, financing, or provision of a sanitation treatment plant. 3.4 Exercise of Service Plan Authority. Notwithstanding any provision in the Service Plan to the contrary, Metro Districts shall only have the ability and authority to: 3.4.1 Construct and finance the sanitary sewer system improvements contemplated by the Service Plan, which are to be located within the boundaries of Metro Districts. All such infrastructure within the boundaries of the Metro Districts which may be constructed and financed by Metro Districts shall be conveyed to the District upon completion and after approval and acceptance by the District pursuant to applicable agreements to be executed between the parties. 3.4.2 Finance, but not construct, any off-site sanitary sewer transmission lines or line extensions outside the boundaries of Metro Districts that may be needed in order for the District to service the development within Metro Districts. Metro Districts or the developer shall enter into such line participation or reimbursement agreements with the District as may be required for such off-site improvements. 3.5 Design Standards. The sanitary sewer system improvements contemplated herein and in the Service Plan shall be designed, constructed, and installed in accordance with the applicable standards, rules and regulations of the District. 3.6 Dedication, Acceptance, Operation, and Maintenance. Metro Districts shall dedicate and convey the completed on-site sanitary sewer system improvements contemplated herein and in their Service Plan to the District within thirty (30) days of completion of construction of such infrastructure. Upon acceptance of the sanitary sewer system improvements, the District shall operate, maintain, repair, and/or replace the said improvements in order to provide sanitation services to the residents and properties within the boundaries of Metro Districts. Metro Districts shall transfer to the District all warranties, bonds, or other guarantees with respect to the construction of such improvements. Metro Districts shall warrant, directly or indirectly, the construction of the sanitary sewer system improvements for a period of no less than two years. 3.7 Metro Districts Dissolution. As contemplated in the Service Plan, when all of the financial obligations issued by Metro Districts for the construction of the 2 sanitary sewer line improvements have been repaid, or when adequate provisions for payment thereof has been made, and there are no further operational requirements for any improvement installed by the Metro Districts, Metro Districts shall notify the District within sixty (60) days thereof requesting a meeting to discuss and implement the steps necessary under then applicable law to dissolve Metro Districts. 3.8 Metro Districts Boundaries. The boundaries of Metro Districts shall not be expanded without the written consent of the District. In the event of an expansion without obtaining the written consent of the District, the District may petition the applicable administrative body or court for equitable or legal relief, including a boundary adjustment, and Metro Districts shall indemnify and hold District harmless from any and all attorneys' fees it incurs in relation to such proceedings. 3.9 Service Plan Modifications. Metro Districts shall not modify the Service Plan in such a manner that would affect the sanitary sewer powers therein or authority granted in this Agreement, and shall not change names or functions without the express written consent of the District's Board of Directors, as expressed in a resolution, which consent shall not be unreasonably withheld, conditioned or delayed for amendments not related to, or affecting the District. If Metro Districts make a written request of the District to modify the Service Plan, the District shall have forty five (45) days from the effective date of such notice, as provided in Section 5 herein, to either approve or disapprove the request. If the District has not responded in writing by the end of the forty-five (45) days, consent to the amendment shall be deemed to have been given. 4. NO WAIVER. The waiver or delay of enforcement of one or more terms of this Agreement shall not constitute a waiver of the remaining terms. The waiver or delay in enforcement regarding any breach of this Agreement shall not constitute a waiver of any terms of the Agreement. 5. NOTICE. All notices, certificates, or other communications hereunder shall be sufficiently given and shall be deemed given when personally delivered in writing or by facsimile, or mailed by registered or certified mail, postage prepaid, addressed as follows: Waterfront at Foster Lake Metropolitan District Nos. 1 -3 c/o Marcus A. McAskin Grimshaw & Harring, P.C. 1700 Lincoln Street, Suite 3800 Denver, CO 80203 Fax No. 303-839-3838 St. Vrain Sanitation District 11307 Business Park Circle Longmont, CO 80504 Fax No. 303-458-1968 3 Any Party may change the address for notice by providing notice in writing to the address set forth above. All notices, demands, requests or other communications shall be effective upon such personal delivery or one (1 ) business day after being deposited with Federal Express or other nationally recognized overnight air courier service or three (3) business days after deposit in the United States mail. By giving the other parties hereto at least ten (10) days' written notice thereof in accordance with the provisions hereof, any of the Parties shall have the right from time to time to change its address. 6. IMMUNITY. Nothing contained in this Agreement constitutes a waiver of any Party's sovereign immunity under any applicable state law. 7. MODIFICATION OF AGREEMENT. Any modification of this Agreement shall be binding only if evidenced in writing signed by all parties. 8. ASSIGNMENT. No transfer or assignment of this Agreement or of any rights hereunder shall be made by any Party without the prior written consent of the other parties, which consent shall not be unreasonably withheld. 9. SEVERABILITY. In the event any court of competent jurisdiction shall hold any provision of this Agreement invalid or unenforceable, such holding shall not invalidate or render unenforceable any other provision hereof. 10. ENTIRE AGREEMENT. This Agreement contains the entire agreement of the parties concerning the subject matter and supersedes all prior conversations, proposals, negotiations, understandings, and agreements, whether written or oral. 11. ATTORNEYS' FEES. If any party breaches this Agreement, the breaching party shall pay all of the non-breaching party's (or parties') reasonable attorneys' fees and costs in enforcing this Agreement whether or not legal proceedings are instituted. 12. GOVERNING LAW. This Agreement shall be governed by the laws of the State of Colorado. 13. ALTERNATIVE DISPUTE RESOLUTION. In addition to the remedies set forth in paragraph 3.8, in the event of any dispute or claim arising under, or related to, this Agreement, the Parties shall use their best efforts to settle such dispute or claim through good faith negotiations with each other. If such dispute or claim is not settled through negotiations within thirty (30) days after the earliest date on which one party notifies the other parties in writing of its desire to attempt to resolve such dispute or claim through negotiations, then the parties agree to attempt in good faith to settle such dispute or claim by mediation under the auspices of a recognized establish mediation service within the State of Colorado. Such mediation shall be conducted within sixty (60) days following any party's written request therefor. If such dispute or claim is not settled through mediation, then any party may initiate a civil action in the District Court in and for Weld County, or before the Board of County Commissioners of Weld County, and the prevailing party shall be indemnified and held harmless by the other party (or 4 parties) from any costs and expenses, including attorneys fees, incurred in such legal proceedings. DATED: , 2008. METRO DISTRICTS: WATERFRONT AT FOSTER LAKE METROPOLITAN DISTRICT NO. 1 By: Chairperson and President ATTEST: Secretary 5 WATERFRONT AT FOSTER LAKE METROPOLITAN DISTRICT NO. 2 By: Chairperson and President ATTEST: Secretary WATERFRONT AT FOSTER LAKE METROPOLITAN DISTRICT NO. 3 By: Chairperson and President ATTEST: Secretary DATED: , 200 . DISTRICT: ST. VRAIN SANITATION DISTRICT By: By: Secretary Chairman 6 INTERGOVERNMENTAL AGREEMENT BETWEEN WATERFRONT AT FOSTER LAKE METROPOLITAN DISTRICT NOS. 1 -3 AND LONGS PEAK WATER DISTRICT 1. PARTIES. The Parties to this Agreement are the WATERFRONT AT FOSTER LAKE METROPOLITAN DISTRICT NOS. 1 - 3 (the "Waterfront Districts") and the LONGS PEAK WATER DISTRICT (the "District"). 2. RECITALS. The Waterfront Districts were organized in order to provide certain public improvements designed to serve the Waterfront at Foster Lake development (the "Project") located within the boundaries of the Waterfront Districts as contemplated in the Service Plan for the Waterfront Districts (the "Service Plan"). As a Title 32 special district, the District provides water services and facilities. The boundaries of the Waterfront Districts are wholly within the existing boundaries of the District and are deemed "overlapping districts" pursuant to Sec. 32-1- 107, C.R.S. The Service Plan contemplates the provision of certain limited water line and appurtenant water service infrastructure improvements by the Waterfront Districts as may be deemed necessary for the demands of the Project(the "Water Related Improvements"), which are subject to dedication to the District. The Waterfront Districts are authorized to provide some of the same services as the District, provided that the Water Related Improvements do not duplicate or interfere with any other improvements or facilities already constructed or planned within or without the overlap area. The Board of Directors of the District consents to the Waterfront Districts providing the same services as the District, as limited by the Service Plan and further subject to the terms and conditions of this Agreement. Accordingly, in consideration of the mutual promises set forth in this Agreement, the Parties covenant and agree as follows: 3. TERMS. 3.1 Sole Water Provider. The District will provide and otherwise make water services available to the residents and property owners within the boundaries of the Waterfront Districts subject to the then-existing capacity, rules and regulations of the District, including the execution of applicable subdivision service agreements, including, if applicable, a dual-system agreement regarding the use of non-potable water for irrigation purposes, and subject to any limitations or restrictions imposed by any governmental entity or agency having jurisdiction over the District or having control of its water supply. The District shall be the sole provider of water services for residents and property owners within the boundaries of the Waterfront Districts. Relative to water services, the Waterfront Districts shall not contract for or otherwise obtain any interconnections with any third party that would allow either the end users within the boundaries of the Waterfront Districts to obtain such service from any other water providers, or third parties to utilize the District's water outside of the boundaries of the Waterfront Districts. Nothing in this Agreement shall be construed as an obligation by the District to reserve for the benefit of the developers of the Project (or any individual property owner) any specific number of water taps absent such additional agreement(s). EXHIBIT 1 X132 3.2 Water Taps. The Waterfront Districts are prohibited from selling any water taps. All water users within the boundaries of the Waterfront Districts shall purchase their water taps from the District. 3.3 Water Treatment Plant. The Waterfront Districts shall not construct, finance, or otherwise provide for any water treatment plant within or without the boundaries of the Project. The Waterfront Districts shall not agree to or otherwise enter into any contract with any other water provider or entity, other than the District, for the construction, financing, or provision of a water treatment plant. 3.4 Exercise of Service Plan Authority. The Waterfront Districts have the ability and authority to construct and finance the Water Related Improvements contemplated by the Service Plan, which are to be primarily located within their boundaries and which may include offsite improvements or extensions needed in order to facilitate water service to the Project by the District. The Waterfront Districts' authority described in this Paragraph 3.4 for Water Related Improvements that are to be located outside of the Waterfront Districts' boundaries is limited to financing those Water Related Improvements that are necessary for connection to the District's lines to service the Project. The Waterfront Districts and/or the developer shall be solely responsible for all of the costs and expenses of the Water Related Improvements, both on-site and off-site; provided, however, that the District may enter into a line-participation and reimbursement agreement or agreements regarding the contribution from other potential users to the costs of those Water Related Improvements located outside of the boundaries of the Waterfront Districts. 3.5 Design Standards. The Water Related Improvements contemplated herein and in the Service Plan shall be designed, constructed, installed, and upgraded in the future, if needed, in accordance with all applicable standards of the District, and, if required by the applicable jurisdiction, shall further satisfy applicable fire protection requirements. 3.6 Dedication, Acceptance, Operation, and Maintenance. The Waterfront Districts shall dedicate and convey the completed Water Related Improvements contemplated herein and in the Service Plan to the District within thirty (30) days of completion. Upon acceptance of the Water Related Improvements, the District shall operate, maintain, repair, and/or replace the said improvements in order to provide water services to the residents and property owners within the boundaries of the Waterfront Districts. The Waterfront Districts shall transfer to the District all warranties,bonds, or other guarantees with respect to the construction of such Water Related Improvements. The Waterfront Districts shall warrant, directly or indirectly, the construction of the Water Related Improvements for a period of no less than one (1) year. 3.7 Dissolution of Waterfront Districts. As contemplated in the Service Plan, when all of the financial obligations issued by the Waterfront Districts for the construction of the _ Water Related Improvements have been repaid, or when adequate provisions for payment thereof has been made, and there are no further operational or maintenance requirements 2 for any public improvements existing on the part of the Waterfront Districts, the Waterfront Districts shall notify the District within sixty (60) days thereof requesting a meeting to discuss the steps necessary under then applicable law to dissolve the Waterfront Districts. 3.8 Boundaries of the Waterfront Districts. The boundaries of the Waterfront Districts shall not be expanded without the express consent of the District. In the event of an expansion of the boundaries of the Waterfront Districts without obtaining the express consent of the District, the District may petition the applicable administrative body or court for a boundary adjustment, and the Waterfront Districts shall indemnify and hold the District harmless from any and all attorneys' fees it incurs in relation to such proceedings. 3.9 Service Plan Modifications. The Waterfront Districts shall not modify the Service Plan in any way that would affect the intent and purpose of this Agreement, and shall not change their name or functions without the express written consent of the District's Board of Directors, as expressed in a resolution, which consent shall not be unreasonably withheld, conditioned or delayed for amendments not related to, or affecting the District. 4. DEFAULT AND REMEDIES. In addition to the remedies set forth in Paragraph 3.8, in the event any Party alleges that the other party (or parties) is in default of this Agreement, the non-defaulting party (or parties) shall first notify the defaulting party (or parties) in writing of such default and specify the exact nature of the default in such notice. The defaulting party (or parties) shall have twenty (20) working days from receipt of such notice within which to cure such default before the non-defaulting party (or parties) may exercise any of its remedies provided hereunder; provided that: 4.1 Such default is capable of being cured; 4.2 The defaulting party (or parties) has commenced such cure within said twenty (20) day period; and 4.3 The defaulting party(or parties) diligently prosecutes such cure to completion. If such default is not of a nature than can be cured in such twenty (20) day period, corrective action must be commenced within such period by the defaulting party (or parties) and thereafter diligently pursued. Upon default, the non-defaulting party(or parties) shall have the right to take whatever action at law or in equity appears necessary or desirable to enforce the performance and observation of any obligation, agreement, or covenant of the defaulting party (or parties) under this Agreement, and the defaulting party (or parties) shall indemnify and hold the non- defaulting party (or parties) harmless from any costs and expenses, including attorneys fees, incurred in enforcing this Agreement. 5. NO WAIVER. The waiver or delay of enforcement of one or more terms of this Agreement shall not constitute a waiver of the remaining terms. The waiver or delay in 3 enforcement regarding any breach of this Agreement shall not constitute a waiver of any terms of the Agreement. 6. NOTICE. All notices, certificates, or other communications hereunder shall be sufficiently given and shall be deemed given when personally delivered in writing or by facsimile, or mailed by registered or certified mail, postage prepaid, addressed as follows: WATERFRONT AT FOSTER LAKE METROPOLITAN DISTRICT NOS. 1 —3 do Marcus A. McAskin Grimshaw & Harring, P.C. 1700 Lincoln Street, Suite 3800 Denver, CO 80203 Fax: 303-839-3838 LONGS PEAK WATER DISTRICT Attn: General Manager 9875 Vermillion Road Longmont, CO 80504 Fax: 303-776-0198 7. IMMUNITY. Nothing contained in this Agreement constitutes a waiver of any Party's sovereign immunity under any applicable state law. 8. MODIFICATION OF AGREEMENT. Any modification of this Agreement shall be binding only if evidenced in writing signed by all parties hereto. 9. ASSIGNMENT. No transfer or assignment of this Agreement or of any rights hereunder shall be made by any Party without the prior written consent of the other parties, which consent shall not be unreasonably withheld. 10. SEVERABILITY. In the event any court of competent jurisdiction shall hold any provision of this Agreement invalid or unenforceable, such holding shall not invalidate or render unenforceable any other provision hereof. 11. ENTIRE AGREEMENT. This Agreement contains the entire agreement of the parties concerning the subject matter and supercedes all prior conversations, proposals, negotiations, understandings, and agreements, whether written or oral. 12. ATTORNEYS' FEES. If any party breaches this Agreement, the breaching party shall pay all of the non-breaching party's (or parties') reasonable attorneys' fees and costs in enforcing this Agreement whether or not legal proceedings are instituted. 13. GOVERNING LAW. This Agreement shall be governed by the laws of the State of Colorado. 4 14. ALETERNATE DISPUTE RESOLUTION. In the event of any dispute or claim arising under or related to this Agreement, the Parties shall use their best efforts to settle such dispute or claim through good faith negotiations with each other. If such dispute or claim is not settled through negotiations within thirty (30) days after the earliest date on which one party notifies the other parties in writing of its desire to attempt to resolve such dispute or claim through negotiations, then the parties agree to attempt in good faith to settle such dispute or claim by mediation under the auspices of a recognized establish mediation service within the State of Colorado. Such mediation shall be conducted within sixty (60) days following any party's written request therefor. If such dispute or claim is not settled through mediation, then either party may initiate a civil action in the District Court for and in Weld County. 15. DATED. , 200 . WATERFRONT DISTRICTS: ATTEST: WATERFRONT AT FOSTER LAKE METROPOLITAN DISTRICT NO. 1 By: By: Secretary Chairperson and President ATTEST: WATERFRONT AT FOSTER LAKE METROPOLITAN DISTRICT NO. 2 By: By: Secretary Chairperson and President ATTEST: WATERFRONT AT FOSTER LAKE METROPOLITAN DISTRICT NO. 3 By: By: Secretary Chairperson and President DISTRICT: ATTEST: LONGS PEAK WATER DISTRICT By: By: Secretary Chairman 5 08/232007 09:19 ST. VRAIN SANITATION DISTRICT 4 3038393838 NO.069 902 J �. • RESOLUTION NO.2007-11 A RESOLUTION OF THE BOARD OF DIRECTORS OF THE ST.VRAIN SANITATION DISTRICT GRANTING ITS CONSENT TO THE PROVISION OF SERVICES BY AN OVERLAPPING TITLE 32 SPECIAL DISTRICT. WHEREAS the St. Vrain Sanitation District(`District') is a Title 32 special district, organized and existing pursuant to the provisions of Sec. 32-1-101, et seq., C.R.S.,and which provides sanitary sewer services including the collection and transmission of wastewater for treatment and WHEREAS the District has a defined boundary established pursuant to its service plan and thereafter modified by statutory inclusions and exclusions;and WHEREAS Sec.32-1-107(2), C.R.S., without the consent of the District's Board of Directors, prohibits the formation of another Title 32 special district that will provide the same and duplicative services as are, or would be, provided by the District within the District's boundaries,and WHEREAS the District has received a copy of a proposed service plan proposing the formation of the Waterfront at Foster Lake Metropolitan District Not 1 - 3 ("Overlapping Districts, which intend to provide certain duplicative services in an area which overlaps the • District's boundaries as defined by Sec.32-1-107(3)(a),C.R.S.;and WHEREAS the proponents of such Overlapping Districts have requested that the District's Board of Directors grant its consent pursuant to Sec. 32-1-107(b)(IV), C.R.S to the Overlapping Districts' proposal to provide certain services which are currently provided within the overlapping area by the District and WHEREAS the District's Board of Directors is willing to grant such consent contingent upon the fulfillment of certain terms and conditions; NOW, THEREFORE, BE TT RESOLVED BY THE BOARD OF DIRECTORS OF THE ST. VRAIN SANITATION DISTRICT THAT: 1. Consent is hereby granted to the provision by the Overlapping Districts within the overlap area of the same services provided by the District, expressly contingent upon the occurrence of each of the following events: 1.1 The final approved service plan of the Overlapping Districts shall provide that the Overlapping Districts shall not, to the extent prohibited by law, duplicate the services provided by the District within the District's boundaries in the overlap area except as may be consented to, and approved by, the District's Board of Directors as expressed through the execution of an intergovernmental agreement between the parties, said agreement to be substantially in the form • as set forth on Exhibit A, which is attached to this Resolution and incorporated herein:and EXHIBIT L SDo►3z 08/23/2007 09:19 ST. URRIN SANITATION DISTRICT 4 30.93393838 NO.069 003 • 1.2 The service plan of the Overlapping Districts, or the resolution of approval by the applicable entity pursuant to either Sec. 32-1-204 or 32-1-204.5, C.R.S., shall include a statement that the Overlapping Districts' Boards of Directors will execute such intergovernmental agreement, substantially in the form as set forth on such Exhibit A, at the initial meeting of their Boards of Directors after the entry of the orders of formation by the District Court for and In Weld County, Colorado (the"Court*):and 1.3 Overlapp Overlapping Districts are legally formed e Courrs orders forming the Overlapping an and the on or beforeJanuary 15,2008. 2. A copy of this Resolution shall be provided to the of C County un y municipality within hmm Commissioners of Weld County and/or to the governing body f any applicable territory In the Overlapping Districts may lie. 3. This Resolution shall be effective upon adoption and shall remain in full force and effect, until rescinded by the District's Board of Directors for failure of one or more of the conditions set forth herein. Dated:August 15, 2007. • 5T.VRAIN 5ANITATIO�DISTRICT /�f President ATTEST: The undersigned,as Secretary of the St.Vrain Sanitation District,hereby certifies that the above resolution was adopted by the Board of Directors of the St.Vrain Sanitation District on August 15, 2007 and entered into the records of the District. U" Secretary (seal) • • INTERGOVERNMENTAL AGREEMENT BETWEEN WATERFRONT AT FOSTER LAKE METROPOLITAN DISTRICT NOS. 1-3 AND ST.VRAIN SANITATION DISTRICT 1. PARTIES. The Parties to this Agreement are the WATERFRONT AT FOSTER LAKE METROPOLITAN DISTRICT NOS. 1 - 3 (Metro Districts) and the ST. VRAIN SANITATION DISTRICT (District). 2. RECITALS. Metro Districts were organized in order to finance, construct and provide public improvements to serve the Waterfront at Foster Lake development(the Project) located within Metro Districts' boundaries as contemplated in the Metro Districts' Service Plan (the Service Plan). The Project is included within the District's boundaries and therefore the Metro Districts are deemed "overlapping Districts" pursuant to Sec. 32-1-107, C.R.S. The Service Plan contemplates the financing and construction of certain sanitary sewer system Improvements as may be necessary for providing sanitary sewer service to the Project, which will be dedicated to the District. The sanitary sewer improvements to be provided by Metro Districts will not duplicate or interfere with any other improvements or facilities already constructed or planned within the overlap area. The Board of Directors of the District consents to Metro Districts providing some of the same services as limited by the Service Plan and further subject to the terms and conditions of this Agreement and the Board's order of inclusion entered on March 21, 2007,which order was subsequently approved by the Weld County District Court on April 10, 2007 (Case No. 85 CV 1166). There is no current or planned duplication or interference of services and the District's consent to the overlap is conditioned upon the Parties entering into this Agreement Accordingly, in consideration of the mutual promises set • forth in this Agreement,the Parties covenant and agree as follows: 3. TERMS OF CONSENT TO OVERLAP. 3.1 Sole Sanitation Provider. The District shall provide and otherwise make sanitary sewer services available to Metro Districts' residents and property within their boundaries subject to the then existing capacity, rules, and regulations of the District, Including the execution of applicable subdivision service agreements, and subject to any limitations or restrictions imposed by any governmental entity or agency having jurisdiction over the District. The District shall be the sole provider of sanitary sewer services for residents and property within Metro Districts'boundaries. Metro Districts shall not contract for or otherwise obtain any Interconnections with any third party that would allow users within the boundaries of Metro Districts to obtain such service from any other sanitary sewer provider,or that would allow third parties outside of the boundaries of Metro Districts to utilize the District's services or facilities. Nothing in this Agreement shall be construed as an obligation by the District to reserve for the benefit of the developers of the Project(or any individual property owner) any specific number of tap connections absent such additional agreements. 3.2 Taps and Interconnections. Metro Districts are prohibited from selling any taps or connections or from authorizing any interconnections or other connections with Metro Districts. All sanitation users within Metro Districts shall purchase their taps from the District. 3.3 Sanitation Treatment Plant. Metro Districts shall not construct,finance, or otherwise provide for any sanitation treatment plant within or without Metro Districts' boundaries. Metro Districts shall not agree to or otherwise enter into any contract with any other • Exhibit ORIGINAL • • • sanitation provider or entity, other than the District, for the construction, financing, or provision of a sanitation treatment plant 3.4 Exercise of Service Plan Authority. Notwithstanding any provision in the Service Plan to the contrary, Metro Districts shall only have the ability and authority to: 3.4.1 Construct and finance the sanitary sewer system improvements contemplated by the Service Plan, which are to be located within the boundaries of Metro Districts. All such infrastructure within the boundaries of the Metro Districts which may be constructed and financed by Metro Districts shall be conveyed to the District upon completion and after approval and acceptance by the District pursuant to applicable agreements to be executed between the parties. 3.4.2 Finance, but not construct, any off-site sanitary sewer transmission lines or line extensions outside the boundaries of Metro Districts that may be needed in order for the District to service the development within Metro Districts. Metro Districts or the developer shall enter into such line participation or reimbursement agreements with the District as may be required for such off-site improvements. 3.5 Design Standards. The sanitary sewer system improvements contemplated herein and in the Service Plan shall be designed, constructed, and installed in accordance with the 1 applicable standards, rules and regulations of the District 3.6 Dedication,Acceptance,Operation,and Maintenance. Metro Districts shall dedicate and convey the completed on-site sanitary sewer system improvements contemplated herein • and in their Service Plan to the District within thirty(30)days of completion of construction of such infrastructure. Upon acceptance of the sanitary sewer system iniprovements, the District shall operate, maintain, repair, and/or replace the said improvements in order to provide sanitation services to the residents and properties within the boundaries of Metro Districts. Metro Districts shall transfer to the District all warranties, bonds, or other j guarantees with respect to the construction of such improvements. Metro Districts shall warrant,directly or indirectly,the construction of the sanitary sewer system improvements for a period of no less than two years. 3.7 Metro Districts Dissolution. As contemplated in the Service Plan, when all of the financial obligations issued by Metro Districts for the construction of the sanitary sewer line improvements have been repaid, or when adequate provisions for payment thereof has been made, and there are no further operational requirements for any improvement installed by the Metro Districts, Metro Districts shall notify the District within sixty (60) days thereof requesting a meeting to discuss and implement.the steps necessary under then applicable law to dissolve Metro Districts. 3.8 Metro Districts Boundaries. The boundaries of Metro Districts shall not be expanded without the written consent of the District. In the event of an expansion without obtaining the written consent of the District,the District may petition the applicable administrative body or court for equitable or legal relief, including a boundary adjustment, and Metro Districts shall indemnify and hold District harmless from any and all attorneys' fees it incurs in relation to such proceedings. 3.9 Service Plan Modifications. Metro Districts shall not modify the Service Plan in such a manner that would affect the sanitary sewer powers therein or authority granted in this • 2 • • Agreement, and shall not change names or functions without the express written consent of the District's Board of Directors, as expressed in a resolution, which consent shall not be unreasonably withheld, conditioned or delayed for amendments not related to, or affecting the District. If Metro Districts make a written request of the District to modify the Service Plan, the District shall have forty five (45) days from the effective date of such notice, as provided in Section 5 herein,to either approve or disapprove the request. If the District has riot responded in writing by the end of the forty-five (45) days, consent to the amendment shall be deemed to have been given. 4. NO WAIVER. The waiver or delay of enforcement of one or more terms of this Agreement shall not constitute a waiver of the remaining terms. The waiver or delay in enforcement regarding any breach of this Agreement shall not constitute a waiver of any terms of the Agreement. 5, NOTICE. All notices, certificates, or other communications hereunder shall be sufficiently given and shall be deemed given when personally delivered in writing or by facsimile, or mailed by registered or certified mail, postage prepaid,addressed as follows: Waterfront at Foster Lake Metropolitan District Nos. 1 -3 c/o Marcus A.McAskin Grimshaw&Herring, P.C. 1700 Lincoln Street,Suite 3800 Denver,CO 80203 Fax No.303-839-3838 St.Vrain Sanitation District • 11307 Business Park Circle Longmont,CO 80504 Fax No. 303-458-1968 Any Party may change the address for notice by providing notice in writing to the address set forth • above. All notices, demands, requests or other communications shall be effective upon such personal delivery or one (1) business day after being deposited with Federal Express or other nationally recognized overnight air courier service or three (3) business days after deposit in the United States mail. By givingthe other parties hereto at least ten (10)days' written notice thereof in accordance with the provisions hereof, any of the Parties shall have the right from time to time to change its address. 6. IMMUNITY. Nothing contained in this Agreement constitutes a waiver of any Party's sovereign immunity under any applicable state law. 7. MODIFICATION OF AGREEMENT. Any modification of this Agreement shall be binding only If evidenced in writing signed by all parties. 8. ASSIGNMENT. No transfer or assignment of this Agreement or of any rights hereunder shall be made by any Party without the prior written consent of the other parties, which consent shall not be unreasonably withheld. 9. SEVERABILITY. in the event any court of competent jurisdiction shall hold any provision of this Agreement invalid or unenforceable, such holding shall not Invalidate or render unenforceable any other provision hereof. • 3 • 10. ENTIRE AGREEMENT. This Agreement contains the entire agreement of the parties concerning the subject matter and supersedes all prior conversations, proposals, negotiations, understandings,and agreements,whether written or oral. 11. ATTORNEYS'FEES. If any party breaches this Agreement,the breaching party shall pay all of the non-breaching party's (or parties') reasonable attorneys' fees and costs in enforcing this Agreement whether or not legal proceedings are instituted. , • 12. GOVERNING LAW. This Agreement shall be governed by the laws of the State of Colorado. 13. ALTERNATIVE DISPUTE RESOLUTION. In addition to the remedies set forth in paragraph 3.8, in the event of any dispute or claim arising under, or related to,this Agreement, the Parties shall use their best efforts to settle such dispute or claim through good faith negotiations with each other. If such dispute or claim is not settled through negotiations within thirty(30)days after the earliest date on which one party notifies the other parties in writing of its desire to attempt to resolve such dispute or claim through negotiations,then the parties agree to attempt In good faith to settle such dispute or claim by mediation under the auspices of a recognized establish mediation service within the State of Colorado. Such mediation shall be conducted within sixty (60) days following any party's written request therefor. If such dispute or claim is not settled through mediation, then any party may initiate a civil action in the District Court in and for Weld County, or before the Board of County Commissioners of Weld County, and the prevailing party shall be indemnified and held harmless by the other party (or parties)from any costs and expenses, Including attorneys fees, incurred In such legal proceedings.• DATED: 2008. METRO DISTRICTS: WATERFRONT AT FOSTER LAKE METROPOLITAN DISTRICT NO.1 By • Chairperson and President ATTEST: Secretary • 4 `w • WATERFRONT AT FOSTER LAKE METROPOLITAN DISTRICT NO.2 By: Chairperson and President ATTEST: Secretary 1 WATERFRONT AT FOSTER LAKE METROPOLITAN 1 DISTRICT NO.3 By: Chairperson and President ATTEST: • Secretary • DATED: 200_ DISTRICT: i • ST.VRAIN SANITATION DISTRICT II B By: y.sa Se retary Chairman • 5 I 1 Hello