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Home My WebLink About20060400.tiff RESOLUTION RE: APPROVE SERVICE PLAN FOR PROPOSED PIONEER REGIONAL METROPOLITAN DISTRICT (SERVICE DISTRICT) WHEREAS,the Board of County Commissioners of Weld County, Colorado, pursuant to Colorado statute and the Weld County Home Rule Charter, is vested with the authority of administering the affairs of Weld County, Colorado, and WHEREAS,pursuant to Section 32-1-204,C. R.S.,a Service Plan concerning the proposed Pioneer Regional Metropolitan District(Service District)was filed with the Weld County Board of County Commissioners, and WHEREAS, on January 4, 2006, by Resolution #2006-0023, the Board of County Commissioners scheduled a public hearing on the Service Plan to be held at 9:00 a.m. on February 6, 2006, and WHEREAS, notice of the date, time, location, and purpose of said hearing was duly published in The Fort Lupton Press, the county legal newspaper, on January 18, 2006 and the Greeley Tribune on January 17, 2006; notice was provided to the Division of Local Affairs of the name and type of the proposed district;and notice of the date,time and location of said hearing was provided to the Petitioners, to the governing body of each municipality and of each special district which had levied an ad valorem tax within the next preceding tax year and which had boundaries within a radius of three(3)miles of the proposed district,and to said Division,as required by Section 32-1-202(1), C. R. S., and Section 32-1-204(1), C. R. S., and WHEREAS,the Weld County Planning Commission studied and considered the Service Plan at its meeting on December 20, 2005, at which time said Commission adopted a Resolution recommending denial of said Service Plan for various reasons as more specifically stated therein, which recommendation was subsequently presented to the Board of County Commissioners at its hearing on this matter, as required by Section 32-1-204(2), C. R. S., and WHEREAS,the Board did,on February 6,2006,conduct a full public hearing on this matter, taking evidence establishing the jurisdiction of the Board to hear this matter and further taking evidence regarding the substantive issues set forth in Section 32-1-203,C. R.S., at which hearing all interested parties were afforded an opportunity to be heard, and WHEREAS, the Board fully considered the Service Plan and all testimony and other evidence presented to it in this matter relating to said Service Plan, including the unfavorable recommendation of the Weld County Planning Commission, and WHEREAS,the Board,after consideration of all testimony and other evidence presented to the Board in this matter, finds that the Service Plan meets the criteria contained within Section 32-1-203, C. R. S., as amended, and WHEREAS,no written requests for exclusion were submitted to the Board. 2006-0400 (e . C� , f1L 0 D0 06 APPROVE SERVICE PLAN - PROPOSED PIONEER REGIONAL METROPOLITAN DISTRICT (SERVICE DISTRICT) PAGE 2 NOW,THEREFORE,BE IT RESOLVED by the Board of County Commissioners of Weld County, Colorado, that: Section 1. The Board hereby determines that all of the jurisdictional and other requirements of Sections 32-1-202 and 32-1-204, C. R. S., have been fulfilled,including those relating to the filing and form of the Service Plan,the form and publication of the public notice of the hearing on the Service Plan, and the type of public hearing held herein, and that, pursuant to Section 32-1-204(1.5) the petitioners did give proper and timely notification of the hearing to the property owners within the proposed district. Section 2. The Weld County Planning Commission has considered this matter as required by law and has unfavorably recommended approval of the Service Plan. Section 3. Based upon the information contained within the Service Plan and evidence presented to the Board at the hearing, the Board hereby finds and determines as follows: A. There is sufficient existing and projected need for organized services of the nature proposed in the Service Plan in the area to be serviced by the proposed District. B. The existing services in the area to be served by the proposed District are inadequate for present and projected needs. C. The proposed District is capable of providing economical and sufficient services to the area within its proposed boundaries. D. The area to be included in the proposed District has,or will have,the financial ability to discharge the proposed indebtedness on a reasonable basis. E. Adequate services are not, and will not be, available to the area through Weld County or other municipal or quasi-municipal corporations, including special districts,within a reasonable time and on a comparable basis. F. The facilities and service standards of the proposed District are, or will be, compatible with the facilities and service standards of Weld County and of each municipality and special district which is an interested party hereto. G. The Service Plan is in substantial compliance with the Weld County Comprehensive Plan and the Weld County Code. 2006-0400 SD0126 APPROVE SERVICE PLAN - PROPOSED PIONEER REGIONAL METROPOLITAN DISTRICT (SERVICE DISTRICT) PAGE 3 H. The creation of the proposed District will be in the best interest of the area proposed to be served. Section 4. The Service Plan of the proposed District be, and hereby is, approved, subject to the following conditions: A. The Service Plan shall be revised to state that the proposed District is prohibited from issuing debt prior to the approval of a Comprehensive Plan amendment which anticipates land use designations substantially similar to the land use designation set forth in the Comprehensive Plan amendment submitted for County review on October 19, 2005. B. The Service Plan shall be revised to incorporate an alternative financial plan which would present the impact of a 30-year absorption of the projected build-out of development within the Service Area. C. The Service Plan shall be revised to state that control of the proposed Service District will be transitioned to the Financing Districts by way of an Intergovernmental Agreement when all of the public improvements necessary to serve the Service Area have been financed and constructed. D. The Service Plan shall be revised to state that the Districts shall have the ability to participate in the financing and construction of any off-site transportation or road improvements which are required by the County to service the development within the Service Area. Section 5. The Clerk to the Board be, and hereby is, directed to advise the Petitioners in writing of this action and to attach a certified copy of this Resolution for the purpose of filing the same with the District Court of Weld County. Section 6. All Resolutions, or parts hereof, in conflict with the provisions hereof, are hereby repealed to the extent of such conflict only. Section 7. This Resolution,immediately upon its passage,shall be authenticated by the signatures of the Board of County Commissioners and the Clerk to the Board and sealed with the corporate seal of the County. Section 8. This Resolution is necessary for the health, safety and welfare of the citizenry of Weld County. 2006-0400 SD0126 APPROVE SERVICE PLAN - PROPOSED PIONEER REGIONAL METROPOLITAN DISTRICT (SERVICE DISTRICT) PAGE 4 The above and foregoing Resolution was,on motion duly made and seconded,adopted by the following vote on the 6th day of February, A.D., 2006. 1 / %BOARD OF COUNTY COMMISSIONERS `I - _DA 4 \ ELD CO ITY, COLORADO ATTEST: ' f 'l . �'; ..•.fie _ iie,C--- eile Chair Weld County Clerk to the B e . - / BY.C1tt144 /a1 F� •'„�r• David E. Long, Pro-Tem Duty CI k to the Bo. . Ouvii Willia H. Jerke APP ED AS RI : \�f� k \�\\\\4:0______Robert 9. Masden/ /114 Glenn Vaad Date of signature: 31 : i(k) 2006-0400 SD0126 SERVICE PLAN FOR PIONEER REGIONAL METROPOLITAN DISTRICT _ (Service District) (COUNTY OF WELD, COLORADO) Submitted: October 27, 2005 Resubmitted: January 13, 2006 PREPARED BY: McGEADY SISNEROS, P.C. 1675 BROADWAY, SUITE 2100 DENVER, COLORADO 80202 (303) 592-4380 GATEWAY AMERICAN RESOURCES 9145 EAST KENYON AVE., SUITE 202 DENVER, CO 80237 (303) 843-9742 (00054184.DOC v:14) TABLE OF CONTENTS Page I. INTRODUCTION 1 A. General Information 1 II. DISTRICT BOUNDARIES/MAPS 2 III. PURPOSE OF THE DISTRICT 3 A. Generally 3 — B. Proposed Structure 4 IV. PROPOSED LAND USE/POPULATION PROJECTIONS 6 V. DESCRIPTION OF PROPOSED SERVICES 8 A. Types of Improvements 8 _ 1. Water 8 2. Sanitation 9 3. Streets 10 4. Safety Protection 10 5. Park and Recreation 11 6. Transportation 11 7. Television Relay and Translation 12 8. Mosquito Control 12 9. Fire Protection 12 — 10. Other Powers 13 (a) Plan Amendments 13 (b) Phasing, Deferral 13 (c) Eminent Domain 13 (d) Additional Services 14 B. Standards of Construction/Statement of Compatibility 15 VI. ASSESSED VALUATION 15 VII. ESTIMATED COSTS OF FACILITIES 15 VIII. REGIONAL IMPROVEMENTS / INTERGOVERNMENTAL AGREEMENT 16 A. Coordinated Services of the Districts. 16 IX. OPERATION AND MAINTENANCE/ESTIMATED COSTS 18 - X. FINANCIAL PLAN/PROPOSED INDEBTEDNESS 19 A. General Discussion 19 B. Service District Participation 20 1. Revenue Bonds 20 2. Operations 21 C. Financing Districts Participation. 22 1. Limited General Obligation Bonds 22 (00054184.DOC v:14) i 4 2. Mill Levy Cap 24 3. Operations 27 XI. ELECTION QUESTIONS 28 XII. DISSOLUTION OF DISTRICT 28 XIII. DEFAULT OF DISTRICT 28 XIV. CONCLUSION 29 (00054184.DOCv:14) 3 SCHEDULE OF EXHIBITS EXHIBIT A Legal Description of Property EXHIBIT B-1 Boundary and Vicinity Map EXHIBIT B-2 Service Area EXHIBIT C List of Improvements and Preliminary Engineer's Estimate of Costs; Depiction of Location of Public Improvements EXHIBIT D Financial Plans -'- (00054 184.DOCv 14) Ill 9 SERVICE PLAN FOR PIONEER REGIONAL METROPOLITAN DISTRICT I. INTRODUCTION A. General Information In accordance with the requirements of the Special District Control Act, Section 32-1-201, et seq., Colorado Revised Statutes, this Service Plan consists of a financial analysis and an engineering plan showing how the existing and proposed facilities and services of the proposed Pioneer Regional Metropolitan District (the "District"or"Service District")will be constructed and financed. This Service Plan complies with all applicable state and federal laws and the Special District Control Act and the Weld County Guidelines governing Service Plans for Title 32 Special Districts ("Guidelines"). The following items are included in this Service Plan: 1. A description of the proposed services; 2. A financial plan showing how the proposed services are to be financed, — including the proposed operating revenue derived from property taxes of the District; 3. A preliminary engineering or architectural survey showing how the proposed services are to be provided; — 4. A map of the District boundaries, the proposed Service Area, as hereinafter defined, and an estimate of the population and valuation for assessment of the District; 5. A general description of the facilities to be constructed and the standards of such construction, including a statement of how the facility and service standards of the District are compatible with facility and service standards of Weld County (the "County") and of {00054184_DOC v:14} I any municipalities and special districts which are interested parties pursuant to Section 32-1-204(1), Colorado Revised Statutes; 6. A general description of the estimated cost of acquiring land, engineering services, legal services, administrative services, proposed indebtedness and estimated proposed maximum interest rates and discounts, and other major expenses related to the operation of the District; and 7. A description of any arrangement or proposed agreement with any political subdivision for the performance of any services between the District and such other political subdivision, and if applicable, a form of the agreement is attached hereto. II. DISTRICT BOUNDARIES/MAPS The total area proposed to be included within the District's boundaries at the time of — organization is approximately 1.0 acre ("Property"). A legal description of the Property is attached hereto as Exhibit A. A map of the boundaries of the District and a vicinity map is attached as Exhibit B-1. A map of the proposed service area, which comprises the approximate - 5,600 acre Pioneer development, is attached as Exhibit B-2 (referred to herein as "Service Area" or"Development"). If the County approves land uses for the Development (defined below) for commercial, single-family and multi-family residential uses, then it is anticipated that the Districts would finance the improvements described herein in order to serve such Development. Each tract of land ("Tract") will describe the type of development that will be permitted with respect to that Tract. {00054184.DOC v:14) 2 III. PURPOSE OF THE DISTRICT A. Generally The Service Area is entirely within the boundaries of the County. The District and the property within the Service Area are located generally north of I-76 at the intersection of CR 22 and CR 49. Water and sewer service will be provided by Resource Colorado Water and Sanitation Metropolitan District ("Resource") as discussed below. Resource has received a conditional service area designation from North Front Range Water Quality Planning Association to serve as the regional wastewater treatment provider to the Service Area("208 Permit"). The Service Area is within the area prescribed by the 208 Permit. The Development is now vacant and is not presently served with the facilities and services to be provided by the District. Neither the County nor any other existing special district has plans to provide such services and facilities within a reasonable time and on a comparable basis. It is proposed that the District will work in cooperation with Pioneer Metropolitan District Nos. 1-6 to serve the Service Area and will have the following powers: (1)to provide sanitation service to the Service Area; (2) to provide water services to the Service Area ; (3) to provide street improvements in the Service Area, including some drainage improvements; (4) to provide safety protection facilities and services in the Service Area; (5) to provide transportation facilities in the Service Area; (6) to provide mosquito control facilities and services in the Service Area; (7)to provide park and recreation facilities and services; (8)to provide television relay and translation facilities in the Service Area; and (9) to provide limited fire protection services. The District will dedicate certain of the public improvements to the County or to such other entity, as appropriate. Portions of the Development are within Hudson Fire Protection {00054184.DOC v:14) 3 7 -- District("Hudson FPD") or Southeast Weld Fire Protection District ("SEWFPD"). Fire protection and emergency medical response services will be provided by Hudson FPD or — SEWFPD, as applicable. Law enforcement services will be provided by the Weld County Sheriffs Department through an intergovernmental agreement with the Pioneer Law Enforcement Authority to be formed pursuant to Section 30-11-401 et seq., C.R.S. Specifically, it is anticipated that the LEA would be formed thirty days following the canvass of votes cast at an election indicating approval of the creation of the LEA at the November 2006 election. B. Proposed Structure — Services will be provided to the Development by seven metropolitan districts: the District; Pioneer Metropolitan District No. 1 ("District No. 1"); Pioneer Metropolitan District No. 2 ("District No. 2"); Pioneer Metropolitan District No. 3 ("District No. 3"); Pioneer —— Metropolitan District No. 4 ("District No. 4"); Pioneer Metropolitan District No. 5 ("District No. 5"); and Pioneer Metropolitan District No. 6 ("District No. 6"). All are sometimes referred to collectively as the "Districts." The District will be the "Service District" organized to finance and construct the public improvements throughout the Development and operate and maintain the water and sewer infrastructure within the Development. District No. 1, District No. 2, District No. 3, District No. 4, District No. 5 and District No. 6, together with any other districts - that are organized to provide financing for the public infrastructure and services, are sometimes hereinafter referred to collectively as the "Financing Districts." The seven districts will coordinate their efforts in order to finance and construct - the Improvements (defined herein) and to provide public services to the Service Area in the most efficient manner possible. The construction of the infrastructure or provision of services within the Districts will occur in multiple phases. The District will be responsible for: (I) managing - (00054184.DOC v:14) 4 a, the construction of the public facilities and improvements within the Service Area and the operation of the water and sewer infrastructure and (2)providing funding to support costs related to the necessary services and improvements. Each Financing District will be responsible for financing its respective share of the improvements and associated operation and maintenance costs, as described in the respective Service Plan for each Financing District. It is anticipated that the Districts will enter into a Facilities Funding, Construction and Operations Agreement ("FFCOA")which will set forth the arrangements for the financing, construction and operations of the improvements contemplated herein for the Development. The FFCOA will set forth that the District will have the authority to enter into agreements on behalf of the Districts for the provision of wholesale water and sanitation and storm drainage services and improvements and services within the Service Area directly or through the establishment of a water enterprise and a — sewer enterprise. The District will enter into an intergovernmental agreement with Resource whereby Resource will provide water and sanitation and storm drainage service to the District, which will in turn, distribute water, collect sewage and otherwise service the individual residential or commercial users or customers within the Service Area, as more specifically set forth in Sections V.A.1 and V.A.2 herein. This multiple district structure is proposed because the projected absorption of the Development and the public improvements to be financed are reasonably projected to extend over more than six (6)years from the date of organization of the District and the Development has varying projected uses. In fact, the build-out for the Development is anticipated to exceed fifteen (15) years; therefore, as is permitted by the Guidelines, the Districts anticipate issuance of debt beyond fifteen (15)years in order to provide the services outlined in the Service Plans since {00054184.DOC v:14) 5 9 such development phasing makes it impracticable to issue all debt within 15 years. Furthermore, the multiple district structure is proposed because it provides several benefits to the inhabitants of the Development and the County. Multiple districts will assure that: (1) the necessary services and improvements can be financed in the most favorable and efficient manner; (2) costly infrastructure will not be constructed and financed prior to an established need; (3) all the services and improvements needed for the Development will be available when needed through managed development; and (4) a reasonable mill levy and reasonable tax burden on all residential and commercial property within the Districts will be maintained through managed financing and coordinated completion of infrastructure improvements. The mechanics of the multiple district structure will be addressed in the FFCOA, which will be more specifically described in Section VIII herein. — IV. PROPOSED LAND USE/POPULATION PROJECTIONS It is anticipated that the land use for the Property and the Service Area will provide for the development of a maximum of 200,000 square feet of commercial uses, 9,500 single-family residential units and 500 attached and/or multi-family units. The peak daytime residential population for the property within the Development is estimated at 25,000 persons, based upon a ratio of 2.5 people per residential unit. These projections are subject to revision based upon final land use approvals. Due to the small size of the District boundaries, the future population of the District is anticipated to be de minimus. It is anticipated that the District's boundaries may change from time to time as it undergoes inclusions and exclusions pursuant to parts 4 and 5 of Article 1, Title 32, C.R.S. Specifically, inclusions and exclusions will be permitted between and among the Districts within the Development boundaries, and the Districts anticipate an inclusion to the Service Area along (00054184.DOC v:I4} 6 1C County Road 49. Inclusions and exclusions of property that are not described in this Service Plan ("Extraordinary Inclusion(s)") shall require 45 day notice publication and written notice to the County pursuant to Section 32-1-207(3)(b), C.R.S. lf, within 45 days of the publication of such notice, the County expresses to the District a written objection to an Extraordinary Inclusion, then such action shall be considered a material modification of this Service Plan and shall be resolved only in accordance with Section 32-1-207(2), C.R.S. The vote by the District Board of Directors to seek such an Extraordinary Inclusion which precedes the notice to the County must occur at a public meeting of he District for which the District has given written notification via US mail at least 14 days and not more than 30 days in advance of such a meeting to all electors, residents, and landowners. Such notification must include the time, date, and location of the meeting as well as a general description of the modifications to be discussed. — Furthermore, other than service between and among the Districts, no extraterritorial service is anticipated to be provided by the Districts. Any extraterritorial service agreements not described herein ("Extraordinary Extraterritorial Service Agreements")by the District shall require 45 day notice publication and written notice to the County pursuant to Section 32-1- 207(3)(b), C.R.S. If, within 45 days of the publication of such notice,the County expresses to the District a written objection to an Extraordinary Extraterritorial Service Agreement, then such action shall be considered a material modification of this Service Plan and shall be resolved only in accordance with Section 32-1-207(2), C.R.S. The vote by the District Board of Directors regarding such Extraordinary Extraterritorial Service Agreement which precedes notice to the County must occur at a public meeting of he District for which the District has given written notification via US mail at least 14 days and not more than 30 days in advance of such a meeting {00054184.DOC v14) 7 to all electors,residents, and landowners. Such notification must include the time, date, and location of the meeting as well as a general description of the modification to be discussed. V. DESCRIPTION OF PROPOSED SERVICES The following paragraphs provide a description of the proposed services to be provided by the District. A. Types of Improvements The District plans to provide for the design, acquisition, construction, installation, maintenance, and financing of certain water, sanitation, storm drainage, street, safety, park and recreation,transportation, television relay and translation, mosquito control and limited fire protection improvements and services within and without the boundaries of the District ("Primary Infrastructure Plan" or"Improvements"). This Service Plan describes those — Improvements anticipated for construction and financing by the District, together with the Financing Districts, which Improvements will benefit the Development and the County. The Improvements generally depicted and described in Exhibit C have been presented for illustration only and the exact design, subphasing of construction and location of the Improvements will be determined at the time of platting and such decisions shall not be considered to be a material modification of the Service Plan. — 1. Water. The District shall have the power to provide for the design, acquisition, construction, completion, installation, operation and maintenance of a complete potable and nonpotable water supply, purification, storage,transmission and distribution system, which may include,but shall not be limited to: wells, water pumps, purification plants, pump stations, transmission lines, distribution mains and laterals, fire hydrants, irrigation facilities, storage facilities, land and easements, and all necessary, incidental, and appurtenant facilities, (00054184.DOC v:14) 8 i3 together with extensions of and improvements to said system within and without the boundaries of the District. The water supply system will supply the water needs for the Service Area as development occurs. Water facilities and service arrangements to the entire Service Area will be provided by the District. The District will acquire water rights and water services as necessary and build the water facilities for the Service Area. It is anticipated that the District will develop and implement municipal standards for the provision of water service, which standards will govern the District's construction of water facilities and provision of water service in association with any Colorado Department of Health or other applicable regulations. The water facilities will be constructed in phases. The District will enter into an intergovernmental agreement with Resource, whereby Resource will construct the facilities necessary to transport its water ("Water Supply") — from Resource's facilities to the Service Area connection point ("Resource IGA"). The Water Supply is generally located on certain of the properties commonly known as the Prospect Valley properties in Weld and Adams Counties. The Resource IGA will address the financing of the water facilities in accordance with the terms of the Resource Service Plan. The District will maintain the water facilities, or cause such facilities to be maintained. 2. Sanitation. The District shall have the power to provide for the design, acquisition, construction, completion, installation, operation and maintenance of a complete sanitary sewage collection, treatment, transmission, and disposal system which may include, but shall not be limited to,treatment plants, collection mains and laterals, lift stations, transmission lines, sludge handling and disposal facilities, and/or storm sewer, flood and surface drainage facilities and systems, including detention/retention ponds and associated irrigation facilities, and all necessary, incidental, and appurtenant facilities, land and easements, together with extensions {00054184.DOC v:14) 9 /3 of and improvements to said system within and without the boundaries of the District. It is anticipated that the District will develop and implement municipal standards for the provision of sewer service, which standards will govern the District's construction of sewer facilities and provision of sewer service, in association with the Colorado Department of Health. Pursuant to the Resource IGA, Resource will provide final wastewater treatment service to the Service Area. The District will maintain the sanitation and storm drainage facilities, or cause such facilities to be maintained. 3. Streets. The District shall have the power to provide for the acquisition, construction, completion, installation and/or operation and maintenance of street improvements, including curbs, gutters, culverts, and other drainage facilities, sidewalks, bike paths and pedestrian ways, bridges, overpasses, interchanges, median islands,paving, lighting, grading, — — landscaping and irrigation, together with all necessary, incidental, and appurtenant facilities, land and easements, together with extensions of and improvements to said facilities within and without the boundaries of the District and the Service Area. Such street improvements will be constructed to County standards, unless otherwise approved by the County. It is anticipated that, unless and/or until acceptance by the County, the Districts or an owner's association within the Property ("OA") will, by agreement, own, operate and maintain the streets constructed by any of the Districts. The District may supplement the County's maintenance of the streets as the District deems necessary or desirable to benefit its service users. It is anticipated that all streetscaping or street landscaping improvements will be maintained by one of the Districts or OA within the Service Area. 4. Safety Protection. The District shall have the power to provide for the acquisition, construction, completion, installation and/or operation and maintenance of facilities {00054184DOC v:14) 10 iy and/or services for a system of traffic and safety controls and devices on streets and highways, including signalization, signing and striping, together with all necessary, incidental, and appurtenant facilities, land and easements,together with extensions of and improvements to said facilities within and without the boundaries of the District and the Service Area. Unless and/or until acceptance by the County, all safety protection improvements will be maintained by the Districts or OA, by agreement. 5. Park and Recreation. The District shall have the power to provide for the design, acquisition, construction, completion, installation, operation and maintenance of parks and recreational facilities and programs including, but not limited to, parks, bike paths and pedestrian ways, open space, landscaping, cultural activities, community recreational centers, water bodies, irrigation facilities, and other active and passive recreational facilities and — a programs, and all necessary, incidental and appurtenant facilities, land and easements,together with extensions of and improvements to said facilities within and without the boundaries of the District and the Service Area. All such parks and recreational facilities and landscaping will be owned and maintained by the Districts or OA, by agreement, unless and/or until such improvements are accepted by the County. 6. Transportation. The District shall have the power to provide for the design, acquisition, construction, completion, installation, operation and maintenance of a system to transport the public by bus, rail, or any other means of conveyance, or combination thereof, or pursuant to contract, including park and ride facilities and parking lots, structures, and facilities; together with all necessary, incidental and appurtenant facilities, land and easements, and all necessary extensions of and improvements to said facilities of systems within and without the boundaries of the District and the Service Area. Unless and/or until acceptance by the County, it (00054184.DOC v:14) 11 /5- is anticipated that the transportation improvements will be owned, operated and maintained by the Districts, the OA or other appropriate jurisdiction. 7. Television Relay and Translation. To account for a circumstance where the private sector cannot fund television relay and translation services necessary to serve the District, the District shall have the power to provide for the design, acquisition, construction, _ completion, installation, operation and maintenance of television relay and translation facilities and programs, together with all necessary, incidental and appurtenant facilities, land and easements, and all necessary extensions of and improvements to said facilities or programs within and without the boundaries of the District and the Service Area. Following acceptance, the television relay and translation improvements will be owned, operated and maintained by one of the Districts or other appropriate jurisdictions. — 8. Mosquito Control. The District shall have the power to provide for the eradication and control of mosquitoes, including but not limited to elimination or treatment of breeding grounds, and purchase, lease, contracting or other use of equipment or supplies for mosquito control. 9. Fire Protection. A portion of the property within the Development is within Hudson FPD and a portion is within SEWFPD. The District shall have the limited power — (limited as more specifically set forth below)to provide for the financing of and design, acquisition, construction, completion, installation, operation and maintenance of facilities and equipment for fire protection, including fire stations, ambulance and emergency medical response and rescue services and diving and grappling stations and all necessary, incidental and appurtenant facilities, land and easements, together with extensions of and improvements to said systems within and without the boundaries of the District. The fire protection improvements and _. (00054184.DOCv:14) 12 /4 facilities will be operated and maintained by Hudson FPD or SEWFPD, as applicable. The Districts' intention in having fire protection power is to enable them to use a portion of their mill levy to fund improvements of Hudson FPD or SEWFPD that are necessary to serve the Development. It is the express intent of this Service Plan that the District's authority to provide limited fire protection service and facilities shall be exercised cooperatively with an existing fire service provider, rather than authorize the creation of an independent fire department as a part of the District. 10. Other Powers. In addition to the enumerated powers,the Board of Directors of the District ("Board") shall also have the following authority: (a) Plan Amendments. To amend the Service Plan as needed, subject to the appropriate statutory procedures. — ^ (b) Phasing, Deferral. Without amending this Service Plan, to defer, forego, reschedule, or restructure the financing and construction of certain Improvements and facilities, to better accommodate the pace of growth,resource availability, and potential inclusions and exclusions of property within the District. (c) Eminent Domain. To exercise the power of eminent domain to construct certain Improvements necessary for the Development. Specifically,the Districts will use the eminent domain power to carry out the District's essential functions and services as well as to construct the Improvements. The use of eminent domain will be undertaken strictly in compliance with State laws. Use of eminent domain or change in the Improvements to be constructed by the District not described in this Service Plan shall require 45 day notice publication and written notice to the County pursuant to Section 32-1-207(3)(b), C.R.S. If, within 45 days of the publication of such notice, the County expresses to the District a written 000S4184.DOCv 14) 13 /7 objection to the proposed action, then this proposed action shall be considered a material modification of this Service Plan and shall be resolved only in accordance with Section 32-1- 207(2), C.R.S. The vote by the District Board of Directors to utilize eminent domain in such a manner which precedes notice to the County must occur at a public meeting of the District for which the District has given written notification via US mail at least 14 days and not more than 30 days in advance of such a meeting to all electors, residents, and landowners. Such notification must include the time, date, and location of the meeting as well as a general description of the modification to be discussed. (d) Additional Services. Except as specifically provided herein, to provide such additional services and exercise such powers as are expressly or impliedly granted by Colorado law, provided that if, after this Service Plan is approved, the Colorado State — _. Legislature includes additional powers or grants new or broader powers for Special Districts by amendment of Section 32-1-1001, et seq., C.R.S., no such powers shall be available to or exercised by the District unless the District publishes 45 day notice and provides written notice — to the County pursuant to Section 32-1-207(3)(b), C.R.S. If, within 45 days of the publication of such notice, the County expresses to the District a written objection to the proposed action, then the proposed action shall be considered a material modification of this Service Plan and shall be resolved only in accordance with Section 32-1-207(2), C.R.S. The vote by the Board of Directors to obtain or utilize such powers which precedes notice to the County must occur at a public meeting of the District where the District has given individual postcard notification via US mail at least 14 days and not more than 30 days in advance of such a meeting to all electors, residents, and landowners. Such notification must include the time, date, and location of the meeting as well as a general description of the modification to be discussed. {00054184.DOC v 14) 14 / 9, B. Standards of Construction/Statement of Compatibility The District will ensure that the Improvements are designed and constructed in accordance with the requirements of the jurisdiction in which the Improvements are located and consistent with the levels of service adopted by that jurisdiction. The District will obtain all necessary approvals from the appropriate governing entity prior to construction and installation _ of the Improvements. Where Improvements are constructed within the County, the District shall obtain from the County all appropriate approvals prior to commencing construction on any phase of the Improvements. VI. ASSESSED VALUATION For purposes of the Financial Plans (including Significant Assumptions) attached hereto as Exhibit D, the Property within the District's boundaries is assumed to have an assessed — valuation of$-0-. The projected build-out for the proposed District is set forth in the Financial Plans. The projected assessed valuation of the Development,based upon the land use expectations heretofore noted, is set forth in the Financial Plans. At build-out, the assessed valuation of the Property is expected to be de minimus and the assessed valuation of the Development is expected to be Two Hundred Ninety-Six Million Three Hundred Sixty-Seven Thousand Nine Hundred Twenty-Eight Dollars ($296,367,928). VII. ESTIMATED COSTS OF FACILITIES The estimated costs of the Improvements to be designed, constructed, installed and/or acquired by the District and/or the Districts are approximately as set forth in Exhibit C attached hereto. A general description and preliminary engineering sketch of the facilities to be constructed and/or acquired are also set forth in Exhibit C attached hereto. The combined total estimated cost of the Improvements is approximately One Hundred Seventy Five Million Dollars {00054184DOC v:14} 15 / 7 p ($175,000,000), which has been adjusted for inflation per the Guidelines, to Two Hundred Twenty Million Dollars ($220,000,000). In addition to the sources of revenue described below, the District's Board may establish enterprises to fund such facilities, services and programs as may qualify for enterprise status using the procedures and criteria provided by Article X, Section 20, Colorado State Constitution. It is the current intention that the District will establish a water enterprise and a sewer enterprise. To the extent provided by law, any enterprise created by the District will remain under the control of the Board of the District. VIII. REGIONAL IMPROVEMENTS/INTERGOVERNMENTAL AGREEMENT A. Coordinated Services of the Districts. As discussed throughout this Service Plan, the relationship between the District as the Service District and the Financing Districts, will be established through a proposed FFCOA. The FFCOA will specify the rights and responsibilities of the District to finance, own, acquire and facilitate any or all of the Improvements or services, except for the wholesale water and sanitation and storm drainage services or improvements (which will be owned by Resource), and operate, construct and maintain the water and sewer infrastructure needed to serve the Development in conjunction with financing provided by the Financing Districts; the Financing Districts may contract for services or operate and maintain Improvements to serve the development within each Financing District. The FFCOA will establish the procedures and standards for the approval of the design, operation and maintenance of the Improvements and the financing of fire protection and law enforcement services. Additionally, the FFCOA will provide the procedures for coordinated financing, budgeting and administrative oversight and management. {00054184.DOC v:14) csabo Additionally, the FFCOA will contemplate the formation of an authority (the "Authority") once the Development has reached full build out, to effectuate the transition to the Authority of the responsibility for provision of operation and maintenance services provided to the Development by the Service District. The Authority would be comprised of the elected board members of the Pioneer Districts, who would be residents of such Districts. Additional anticipated intergovernmental agreements include: (i) agreements between the Pioneer LEA and Weld County Sheriffs Department to facilitate provision of law enforcement services; (ii) agreements between the Service District and Resource, as more specifically described in Sections III and V herein; (iii)agreements between the Districts and Hudson FPD and/or SEWFPD to provide service to the Development; and (iv) potential agreements between and among the Districts for the purpose of providing service to the Development. Execution of intergovernmental agreements by the District that are not described in the Service Plan ("Extraordinary IGAs") shall require 45 day notice publication and written notice to the County pursuant to Section 32-1-207(3)(b), C.R.S. If, within 45 days of the publication of such notice, the County expresses to the District a written objection to the Extraordinary IGA, then such action shall be considered a material modification of this Service Plan and shall be resolved only in accordance with Section 32-1-207(2), C.R.S. The vote by the Board of Directors to enter into such an Extraordinary IGA which precedes the notice to the County, must occur at a public meeting of the District for which District has given written notification via US mail at least 14 days and not more than 30 days in advance of such a meeting to all electors, residents, and land owners. Such notification must include the time, date and location of the meeting as well as a general description of the modification to be discussed. (00054184.DOC v:14) 17 IX. OPERATION AND MAINTENANCE/ESTIMATED COSTS Subject to the applicable warranty,the District intends to dedicate certain facilities constructed or acquired, to the appropriate jurisdiction for operations and maintenance. Certain water and sewer improvements completed by the District may be owned, operated and/or maintained by the District subject to the receipt of financing from the Financing Districts pursuant to the FFCOA and enterprise revenues as more specifically set forth below. The Financing Districts will operate and maintain the Improvements to serve the development within each Financing District. To the extent it is necessary to share operation and maintenance costs, the applicable Districts will enter into an intergovernmental agreement(s)to facilitate this. Estimated costs for operation and maintenance functions are shown on the Financial Plans. It is anticipated that the Financing Districts will initially impose an operation and maintenance mill levy of ten (10) mills to cover the operating costs of the Districts. The District and/or Financing Districts may impose a system of fees, rates, tolls, penalties or charges in connection with its provision of services to supplement these revenues. The Mill Levy Cap, as hereafter defined, is inclusive of the Financing Districts' mill levy necessary for provision of operation and maintenance services to the Property and Service Area. The District's initial annual operating budget is Fourteen Thousand Sixty-Eight Dollars ($14,068) (to be inflated at 2%per year thereafter). These projections are subject to change based upon final land use approvals. In addition to the sources of revenue described above, the District's Board may set up enterprises to manage and operate such facilities, services and programs as may qualify for enterprise status using the procedures and criteria provided by Article X, Section 20, Colorado State Constitution. To the extent provided by law, any enterprise created by the District will (00054I8QDOC v:14) 18 remain under the control of the Board of the District. The operation and maintenance of the water and sewer facilities will be funded by the revenue derived from a monthly fee to be _ established by the water and sewer enterprise pursuant to a rate study. X. FINANCIAL PLAN/PROPOSED INDEBTEDNESS A. General Discussion. This Section IX summarizes the components of the Financial Plans attached hereto as Exhibit D, as they relate to the Service District and the Financing Districts. The Financial Plans show how the Districts will cooperatively finance the proposed facilities and/or services, including the estimated costs of engineering services, legal services, administrative services, proposed bond issuances and estimated proposed maximum interest rates and discounts, and other major expenses related to the operation of the Districts and as such, should be read together. With regard to the Financing Districts, the Financial Plan contained in Exhibit D is a combined financial plan. As development occurs, any debt issued by any of the Financing Districts will be structured to ensure that the respective district has sufficient capacity to support such debt. The Financial Plans demonstrate the issuance of bonds and the anticipated repayment based on the projected development within the Service Area. Although the land use application for the Development contemplates 200,000 square feet of commercial development, 9,500 single family units and 500 multi-family units, for purposes of the Financial Plans, the development projection is based only on the residential units, on the basis that any commercial development is assumed as single family equivalents within the 10,000 residential units. The Financial Plans demonstrate that, at various projected levels of development, the Districts have the ability to finance the facilities identified herein, and will be capable of discharging the debt on a reasonable basis. The Financial Plans anticipate imposition {00054184.DOC v:14) 19 -- of certain capital infrastructure fees totaling approximately $22,000 in the aggregate per equivalent residential unit, as more specifically set forth in the Financial Plans. Rate studies will be conducted, as necessary, to confirm the relative amounts of such fees. The District may increase or decrease fees as it deems necessary to accommodate the financing, construction and installation of Improvements or services. Pursuant to the terms of the FFCOA, the Financing Districts shall be responsible for financing some of the costs of the Improvements for the Development through the issuance of general obligation bonds. The District is authorized to issue revenue bonds secured by various revenue sources, including fee revenue or the Financing Districts' pledge of proceeds from general obligation bonds. The Financial Plans show that prior to the time of the initial issuance of bonds by the District or the Financing Districts, the construction costs for necessary improvements will be paid by the Developer of the property within the Development, subject to subsequent acquisition by the District of the completed improvements and payment to the Developer of such construction costs together with accrued interest thereon. B. Service District Participation. 1. Revenue Bonds. In order to fund the planning, design, acquisition, construction, completion and installation of the Improvements, the District may issue revenue bonds through its enterprise payable from either proceeds from general obligation bonds issued by the Financing Districts or from revenue generated from rates, fees, tolls or charges of the District, the Financing Districts or any water or sewer enterprise created by the District. Any such revenue bonds will be issued in strict compliance with any then-existing statutory or regulatory provisions. Bonds would -- (00054184.DOC v:14) 20 mature not more than thirty (30)years from the date of issuance, with the first maturity being not later than three years from the date of their issuance. The maximum voted interest rate is anticipated to be eighteen percent (I8%) and the maximum underwriting discount is anticipated to be five percent (5%). The exact interest rates and discounts will be determined at the time the bonds are sold by the District, and will reflect market conditions at the time of sale. The District may also issue notes, certificates, debentures or other evidences of indebtedness, including but not limited to contracts that extend beyond one year. The District may capitalize interest to permit payment of interest during the time lapse between development of properties and collection of fees, rates, tolls and charges, and to establish reserve funds. Interest income through the reinvestment of construction funds will provide additional income. The projected revenue sources will retire the proposed bonds if growth occurs as projected; otherwise increases in and/or the imposition of new rates, tolls, fees and charges may be necessary. The revenue bonds issued by the District shall never constitute debt or indebtedness of the District, the County, or any other political subdivision of the state within the meaning of any provision or limitation of the laws of Colorado or the state constitution. 2. Operations. Annual administrative, operational and maintenance expenses are estimated as shown in the Financial Plans. With regard to the District, the Financial Plans contemplate that a portion of the revenue derived from the ten (10) Regional Improvements Mill Levy (equivalent to 2 mills) will be transferred to the District. The Financial Plans project that the District will have sufficient revenue to pay for its ongoing operations and maintenance expenses. If necessary, however, the District reserves the right to supplement these revenues {00054184.DOC v:I4) 21 -- with additional revenue sources as permitted by law. The County shall not be held liable for any of the District's obligations as set forth in this Service Plan. Prior to the District having sufficient revenue to pay its ongoing operations and maintenance expenses, the Developer of the property within the Development will advance funds to the District. The District shall have the authority to repay the Developer for amounts advanced for operations and maintenance expenses, together with interest thereon, pursuant to an operation funding agreement between the District and the Developer. C. Financing Districts Participation. 1. Limited General Obligation Bonds The Financing Plan projects the issuance of limited general obligation bonds in the total aggregate principal amount of Two Hundred Twenty Million Dollars ($220,000,000) ("Baseline Debt Authorization"). It is anticipated that the Financing Districts will make a total general obligation pledge to the District and/or issue bonds in the amount of the Baseline Debt Authorization to assist in financing the Improvements; however the total amount of general obligation debt issued by all of the Financing Districts shall not exceed the Maximum Debt Authorization, defined below. The FFCOA will provide that each Financing District will have a cap on its total obligation, and each Financing District shall only be required to fund on an annual basis the amount the applicable Financing District would be capable of funding through tax revenues resulting from the imposition of a mill levy cap as defined in each Financing District's Service Plan. The maximum voted interest rate is anticipated to be eighteen ` percent (18%) and the maximum discount is anticipated to be five percent (5%). The exact interest rates and discounts will be determined at the time the bonds are sold by the Financing Districts, and will reflect market conditions at the time of sale. {00054184.DOC v:14} 22 ._... ...._ The Districts will seek authority from their electorates to incur debt for various purposes in an aggregate amount, including all bonds issued by all Financing Districts, not to exceed Three Hundred Thirty Million Dollars ($330,000,000) ("Maximum Debt Authorization"), which comprises the Baseline Debt Authorization, increased up to 150% as discussed below and as set forth in the Guidelines. The Maximum Debt Authorization exceeds the Baseline Debt Authorization set forth in the Financial Plans to allow for the utilization of alternative financing mechanisms, unforeseen contingencies, increases in construction costs due to inflation, changes in voter approved priorities, and to cover all issuance costs, including capitalized interest, reserve funds, discounts, legal fees and other incidents of costs of issuance, and such authorization will be utilized subject to the limitations set forth below. The District shall not issue debt in excess of the Baseline Debt Authorization unless (i) the projected interest rate on the debt to be issued by the District; (ii) the projected assessed valuation of the property within the District; or(iii)the projected rate of absorption of the assessed valuation within the District change or the rate of inflation is demonstrated to be in excess of 3%, leading to increased debt capacity for the District as determined by an investment banking firm or financial advisor; in which case the Baseline Debt Authorization may increase up to 150% of the original projected maximum debt capacity. Any issuance of debt in excess of the Baseline Debt Authorization shall require 45 day notice publication and written notice to the County pursuant to Section 32-1-207(3)(6), C.R.S., along with a report form the financial advisor described above, documenting the basis for such issue. If, within 45 days of the publication of such notice, the County expresses to the District a written objection to the proposed action, then the proposed action shall be considered a material modification of this Service Plan and shall be resolved only in accordance with Section 32-1- - (00054184.DOCv:14) 23 2 / 207(2), C.R.S. The vote by the Board of Directors to issue debt in excess of the Baseline Debt Authorization which precedes notice to the County must occur at a public meeting of the District for which the District has given written notification via US mail at least 14 days and not more than 30 days in advance of such a meeting to all electors,residents, and landowners. Such notification must include the time, date, and location of the meeting as well as a general description of the modification to be discussed. Prior to the first issuance of bonds, it is anticipated that the Developer will advance funds for the construction of the Improvements which advances will accrue interest and, as such, the principal amount of bonds issued by the Financing Districts will be increased to cover such costs. Bonds would mature not more than thirty (30) years from the date of issuance, with the first maturity being not later than three years from the date of their issuance. The maximum voted interest rate is anticipated to be eighteen percent (18%) and the maximum underwriting discount is anticipated to be five percent (5%). The exact interest rates and — discounts will be determined at the time the bonds are sold by the Financing Districts, and will reflect market conditions at the time of sale. The Financing Districts may also issue notes, certificates, debentures or other evidences of indebtedness, including but not limited to contracts that extend beyond one year. 2. Mill Levy Cap. The Financing Districts will have the authority to impose a mill levy on all taxable property within their boundaries as a primary source of revenue for payment of debt service and operation and maintenance expenses, including the Regional Improvements Mill Levy defined below, not to exceed the "Mill Levy Cap" of sixty five (65) mills, provided {00054184.DOCv:14} 24 IeT however, that in the event the method of calculating assessed valuation is changed after the base year of 2006, by any change in law, change in method of calculation, or in the event of any legislation or constitutionally mandated tax credit, cut or abatement, the mill levy limitation applicable to such Mill Levy Cap may be increased or decreased to reflect such changes, such increases or decreases to be determined by the Board in good faith (such determination to be binding and final) so that to the extent possible, the actual tax revenues generated by the mill levy, as adjusted, are neither diminished nor enhanced as a result of such changes ("Gallagher Adjustment")1. In no event shall the debt service portion of the mill levy exceed 50 mills, subject to the Gallagher Adjustment. Although the mill levy may vary depending on each Board's decision to fund the projects contemplated in this Service Plan, it is estimated that a mill levy of forty (40) mills will produce revenue sufficient, together with other funds available, to support the Financing Districts' debt service through the bond repayment period. It is anticipated that the Financing Districts will initially impose an operations and maintenance mill levy of ten (10) mills to cover the operating costs of the Districts and a Regional Improvements Mill Levy of ten (10)mills. Interest income through the reinvestment of construction funds, capitalized interest and annual tax receipts will provide additional funds. These revenue sources should be sufficient to retire the proposed indebtedness and cover operating expenses of the Districts if growth occurs as projected; otherwise, increases in the mill levy and/or the imposition of rates, tolls, fees and charges may be necessary, but in no event shall the total mill levy imposed by each Financing District exceed the Mill Levy Cap. ' For purposes of the foregoing,a change in the ratio of actual valuation shall be deemed to be a change in the method of calculating assessed valuation. •r {00054184.DOCv 14) 25 a9 3. Regional Improvements Mill Levy. The FFCOA will provide that the Service District shall be authorized to provide for the planning, design, acquisition, construction, installation, relocation and/or redevelopment and a contribution to the funding of certain regional water and sanitation and storm drainage improvements and services and fund the administration and overhead costs related to the provision of such regional improvements and services. "Regional Improvements" are defined as such water and sanitation and storm drainage improvements and services as the Service District in its sole reasonable discretion believes are public in nature and are permitted by state law to be paid for from revenues derived from the Financing Districts, including operations and maintenance thereof. The Financing Districts shall impose a"Regional Improvements Mill — Levy", which means the mill levy imposed for payment of the costs of the planning, design, permitting, construction, acquisition and financing of the water and sanitation and storm drainage improvements and services and operation and maintenance costs therefor, which shall not exceed the amount determined pursuant to the formula set forth in subsection 2, "Mill Levy Cap." Collections shall begin in the first year of collection of an operations and maintenance or debt service mill levy by each Financing District. The Regional Improvements Mill Levy shall continue in each year thereafter until the Service District determines it is no longer necessary. All mills described in this Regional Improvement Mill Levy definition shall be adjusted as follows: on or after January 1, 2006, if there are changes in the method of calculating assessed valuation or any constitutionally mandated tax credit, cut or abatement the mill levy described above shall be increased or decreased to reflect such changes, such increases or decreases to be determined by the Board in good faith (such determination to be binding and {00054184.DOC v:14) 26 to final) so that to the extent possible,the actual tax revenues generated by the mill levy, as adjusted for changes occurring after January I, 2006, are neither diminished nor enhanced as a result of such changes; and for purposes of the foregoing, a change in the ratio of actual valuation shall be deemed to be a change in the method of calculating assessed valuation. The revenue from the Regional Improvement Mill Levy shall be conveyed to the Service District pursuant to the FFCOA for use in planning, designing, constructing, installing, acquiring, relocating, redeveloping or financing of the Regional Improvements as prioritized and determined by the Service District which benefit the service users and taxpayers of the Financing Districts in accordance with such agreement and for operation and maintenance costs therefor. The Regional Improvements shall be limited only as set forth in the FFCOA. 4. Operations. Annual administrative, operational and maintenance expenses are estimated as shown in the Financial Plans. The Financial Plans contemplate that the Financing Districts will impose a mill levy of ten (10)mills for operations. The Financial Plans project that the Financing Districts will have sufficient revenue to pay for their ongoing operations and maintenance expenses. If necessary, however, the Financing Districts reserve the right to supplement these revenues with additional revenue sources as permitted by law. The County shall not be held liable for any of the Districts' obligations as set forth in this Service Plan. Prior to the Financing Districts having sufficient revenue to pay their ongoing operations and maintenance expenses, the Developer of the property within the Development will advance funds to the Financing Districts. The Financing Districts shall have the authority to repay the Developer for amounts advanced for operations and maintenance _. (000541S4.DOCv:14) 27 3/ expenses, together with interest thereon, pursuant to one or more operation funding agreements between the Financing Districts and the Developer. XL ELECTION QUESTIONS Thirty (30) days prior to an election thereon, proposed ballot questions for a formation election, debt authorization or de-Brucing will be submitted to the County for filing and review. Weld County shall have the right to object to any ballot questions not in compliance with the Service Plan as a major modification of the District's Service Plan pursuant to Section 32-1- 207(3)(a), C.R.S. XII. DISSOLUTION OF DISTRICT The District shall be dissolved after the District's debt and financial obligations are fully defeased and the District has completed all of its operations and maintenance responsibilities. To the extent that the District has long-term, on-going operations and maintenance obligations, it will not be obligated to dissolve. However, in the event said obligations are someday undertaken by another party, or are otherwise no longer the responsibility of the District, the District shall be required to dissolve. XIII. DEFAULT OF DISTRICT A. In the event the District fails to pay its debt when due or defaults in the performance of any obligation that has been agreed to between the District and the County, which obligation has been identified by the County in writing as a material obligation, and such default is continuing after the expiration of any cure periods, the District shall be precluded from issuing additional debt except refunding bonds issued to avoid or to cure a payment default, without receiving written permission from the Board of County Commissioners following a public hearing on the matter. {00054184.DOC v:14) 28 3--a B. In the event that a court of competent jurisdiction has made a final, unappealable determination that a District has defaulted on any of its financial contracts, the District shall be precluded from issuing additional debt except to refund or refinance a financial obligation for the purpose of avoiding or curing a default without receiving written permission from the Board of County Commissioners following a public hearing on the matter. C. Failure of the District to adhere to any of the conditions,restrictions, or requirements contained in its approved Service Plan, including those set forth in Sections IV, V.A.(10), X.C, and XI, shall be a material modification of the Service Plan and shall carry whatever rights, remedies, and penalties which are available to the County or the electors of the District under the Act. XIV. CONCLUSION It is submitted that this Service Plan for the Pioneer Regional Metropolitan District establishes that: A. There is sufficient existing and projected need for organized service in the area to be serviced by the District; B. The existing service in the area to be served by the District is inadequate for present and projected needs; — C. The District is capable of providing economical and sufficient service to the area within its proposed boundaries; D. The area to be included in the District does have, and will have, the financial ability to discharge the proposed indebtedness on a reasonable basis; _-. (00054184.DOC v:14) 29 33 E. Adequate service is not, and will not be, available to the area through the County or other existing municipal or quasi-municipal corporations, including existing special districts, within a reasonable time and on a comparable basis; F. The facility and service standards of the District are compatible with the facility and service standards of the County within which the special district is to be located and each municipality which is an interested party under Section 32-1-204(1), Colorado Revised Statutes; G. The proposal is in substantial compliance with a master plan adopted pursuant to Section 30-28-106, C.R.S.; and H. The proposal is in compliance with any duly adopted County,regional, or state long-range water quality management plan for the area; and I. The creation of the District is in the best interests of the area proposed to be served. {00054184.DOC v:14) 30 ��f EXHIBIT A Legal Description of Property • {00054184.DOC v:14) LEGAL DESCRIPTION - A PARCEL OF LAND BEING A PART OF THE SOUTHEAST QUARTER OF SECTION 18, TOWNSHIP 2 NORTH, RANGE 64 WEST OF THE SIXTH PRINCIPAL MERIDIAN, COUNTY OF WELD, STATE OF COLORADO, BEING MORE PARTICULARLY DESCRIBED AS FOLLOWS: COMMENCING AT THE SOUTHWEST CORNER OF THE SOUTHEAST QUARTER OF SAID SECTION 18, AND CONSIDERING THE WEST LINE OF THE SOUTHEAST QUARTER OF SAID SECTION 18 TO BEAR SOUTH 01°02'20" EAST, WITH ALL BEARINGS CONTAINED HEREIN RELATIVE THERETO; THENCE NORTH 01°02'20" WEST, ALONG THE WEST LINE OF THE SOUTHEAST QUARTER OF SAID SECTION 18, A DISTANCE OF 283.71 FEET TO THE POINT OF BEGINNING; THENCE CONTINUING NORTH 01°02'20" WEST, ALONG SAID WEST LINE OF THE SOUTHEAST QUARTER OF SECTION 18, A DISTANCE OF 208.71 FEET; - THENCE NORTH 89°07'45" EAST, A DISTANCE OF 208/1 FEET; THENCE SOUTH 01°02'20" EAST, A DISTANCE OF 208.71 FEET; THENCE SOUTH 89°07'45" WEST, A DISTANCE OF 208.71 FEET TO THE POINT OF - BEGINNING, CONTAINING A CALCULATED AREA OF 43,560 SQUARE FEET OR 1.000 ACRE, MORE OR LESS. THE ABOVE AND FOREGOING DESCRIBES A SURFACE ESTATE ONLY. EXPRESSLY EXCLUDED FROM THIS LEGAL DESCRIPTION ARE ANY ESTATES BELOW THE SURFACE INCLUDING OIL, GAS AND OTHER MINERALS (INCLUDING SAND AND GRAVEL) AND ANY RELATED RIGHTS OF SURFACE USE. I, THOMAS D. STAAB, A SURVEYOR LICENSED IN THE STATE OF COLORADO, - HEREBY CERTIFY THAT THIS LEGAL DESCRIPTION WAS PREPARED BY ME OR UNDER MY DIRECT SUPERVISION AND IS CORRECT AND ACCURATE TO THE BEST OF MY KNOWLEDGE AND BELIEF. . THOMAS D. STAAB, PLS 25965 <3$°A p'b*:t FOR AND ON BEHALF OF cirtk, — CARROLL & LANGE, INC. 7t 25965 .74 uok,v Page 1 of I 3h EXHIBIT B-1 Boundary and Vicinity Map 00054184.DOC v 14) 3 '7 BOUNDARY MAP H _ 4 ?2, CD N RO(Nj n_z Nw SCALE: i"=100' vw wm SW 1/4 JINN SE 1/4 SEC 18 oN SEC 18 t Low N89'07'45"E 208.71' Ja] cci N PARCEL N 43,560 S.F.± w J o 1.000 AC.* o N N N O O o POINT OF JZ/- BEGINNING !// 589'07'45"W 208.71' 3 I h O O P n vi SOUTH LINE SE 1/4 SEC 18 1 POINT OF COMMENCEMENT 589'07'45"W 2635.72' SW COR SE 1/4 SEC 18 T2N, R64W, 6TH PM 1 FOUND 2-1/2" ALUM CAP PLS 27269 1 r Carroll & Lange Denotes Change of Direction Only. This wme„,ana,Enq'neesaLand su,"ern, exhibit does not represent a `/ 165 South Union Blvd sane 156 monumented survey. It is intended only 3980.0200kewood Colorado 80228 (303)980-0o00 ' to depict the attached legal description. P.\3325\EkM&TSVIIRECTOR PARCEL SHEET 2 Or 2. PREPARED 09/28/05. REV. 0\ O ^oS i n '- 6 d I- z z so W nm W al M1 4 ., oM tCtl Pi E a I 11 P Jas pi W n IS �0 — — o hi t —t ! - r ' z a o O"Ill U aidO N < N ,\N , 0 ID 7 O O O m O W w u U .. g00 ,, 0 O ,, EIZ G U 'I A- 1 i Iq1, 5 q. P 1 i 0 • 9 CO E W i' I. .�,v� e ) i 1 s+...,y ,, r .1 >.� 1 ? i ' 41 i l .. 14 I • m ill ; I • y i / II : l--j E 4 •j1 + r•� •• t47___ ____ _J . . g r` e , • it i` • A I 1-7'77-1 0 \ , r -.) L<---JI I'r\/'-IIIj I II .. 4 4�r .. _ -\ .1,.r. ._ .. .. 1i Ii tit r+ I 1 a I 8 �. I w ! 4 1. .. 1 )Thc-----i A I �E r: : A: _ 1I_ _ N t � ��— — '__. . i .__... _. 1` z ° \ t _ • .n. �, 1111+ , :.� • — 1 °.._ c ID \ -,1_41 '^' !' , n i x � ?p . r; , a '* ` +. •,_-.....„ - O W } '. -. a a t \ s. i , i+t .ice -- l• • — - _- - - - ,_SI -..'0 ..rEIE 100i "�•,p. '-SZ "YJ1r Talc "d EXHIBIT B-2 Service Area {00054I84.DOC v:14) 9b a e . .... J i ji��',, .-.n d L ; z 4RMI k z•lz in I o p ae n re)[N I 1 1 1g \V II a \ ` !M I • £$ e11/1i N .. \\`• . Q -\ $g f!q!q'=�� v] \ § itn cwi q i�=- hti tin U L.L. \ \\\� \ \\ \ n.-s.-..`r--. aVM-may .r 0 <1 0 0 \0) \\`\ .• " O o 0 0 T T W41aw i _tno \..1fo • n_• i \\ _OO "10 ix D �Cr \unto \NO \ •• n O ` L.90f — L1.1 NUI-, ►�" \� —I ? a z n an to .8 � mn _H. �w z'� no �. . \:: 00 3i_F- O `"I ^0 0 �n� n� no Oxu_F '" Q I o ¢ o '-VI O a mi C M -\\\ J - m S0UI o . \\\a .. f Z '-W wl Isi n n \fir<`rn7 Qov>w `�! Y —.—.---._.�----.-- 'Mt 9'a \ I• At 9'a Ill ww ' j MS9.a I N0 ^06l avM+ MS9'a w00 na 3ar I ` _0 00 o no no Ica'- I o 0o I 'o z i I in n o Q cQ0OI n a. -_.—.—.4 \ Z-Z �oIN-0 �. N.- m. nNI Q 2xN Vin° no roo 0No I i_ wx_ I o no: nn n no < inz 4 ¢ 0 d •U Mrt11 300 ! �o no Y Pin `1 "l _ a n j UJ f0 I- __. l -Li_ � -Lti I oo .® � I z U - — - • H. U'n I r I Q rOI Ho a in T N I 1 `.=J., I IN I I z_ve� $ '1 ' .o 9/ EXHIBIT C List of Improvements and Preliminary Engineer's Estimate of Costs; Description of Location of Public Improvements {00054184.DOC v:14} L` &t Contents 1. District Cost Summary 2. Pioneer Regional Metropolitan District 3. Pioneer Metropolitan District#1 - Detailed Budget 4. Pioneer Metropolitan District #2 - Detailed Budget 5. Pioneer Metropolitan District#3 - Detailed Budget 6. Pioneer Metropolitan District #4 - Detailed Budget 7. Pioneer Metropolitan District#5 - Detailed Budget 8. Pioneer Metropolitan District #6 - Detailed Budget 9. District Maps • District Boundary • Onsite Sanitary Sewer • Onsite Potable Water — • Onsite Storm Sewer • Roadways • Conceptual Open Spaceffrail Plan 10. List of Improvements and Preliminary Engineers Estimate of Costs; District Cost Assumption Backup ys DISTRICT COST SUMMARY: With Inflation per County Guidelines Present Based on a 30 yr Value Bond Term Pioneer Regional Metropolitan District $29,849,400 $37,558,742 Pioneer Metropolitan District#1: $26,414,954 Pioneer Metropolitan District#2: $31,387,214 Pioneer Metropolitan District#3: $27,952,104 Pioneer Metropolitan District#4: $33,007,929 Pioneer Metropolitan District#5: $21,026,280 — Pioneer Metropolitan District#6: $5,204,722 Total Pioneer Metropolitan District#1 -6= $144,993,203 $182,441,258 TOTAL COSTS $174 ,842, 603 $220, 000, 000 yy PIONEER REGIONAL METROPOLITAN DISTRICT (PRMDI: I) Major District Components A) Potable Water Facilities Pumping Facilities Storage Facilities Water Filtration and Treatment Plants Power Plants Ventilation Gauging Stations Inlets Infiltration Galleries Parking Facilities Miscellaneous Appurtenant Facilities B) Water Transmission Lines To include lines≥24" in size. (Note: There are no water lines≥24" in size.) C) Non-Potahle Water Facilities Pumping Facilities Storage Facilities Irrigation Distribution D) Sanitary Sewer Improvements To include all sanitary sewer mains contained within the Pioneer — District streets. E) Street Imnrovements Off-Site street improvements II) Potable Water Facilities UNIT TOTAL DESCRIPTION ONTY UNIT COST COST Blending/Treatment 1 EA $ 230,000 $ 230,000 Storage 5,000,000 Gallons $ 1 $ 5,000,000 Pumping 1 EA $ 440,000 $ 440,000 SUBTOTAL 5,670,000 Design/Survey/Testing; Construction Management;and Contingency 18% 1,020,600 6,690,600 Subtotal 6,690,600 1/9/2006 2:21 PM Page 4 u ^ PIONEER REGIONAL METROPOLITAN DISTRICT (PRMD): III) Non-Potable Water Facilities UNIT TOTAL DESCRIPTION QNTY UNIT COST COST Storage 500,000 Gallons $ 1 $ 500,000 Pumping 1 EA $ 160,000 $ 160,000 Irrigation Distribution Lines 91,867 LF $ 39 $ 3,577.289 SUBTOTAL 4,237,289 Design/Survey/Testing; Construction Management;and Contingency 18% 762,712 5,000,000 Subtotal 5,000,000 IV) Sanitary Sewer Improvements UNIT TOTAL DESCRIPTION QNTY UNIT COST COST A) ALLOCATED TO MD#1 24"PVC ASTM F679 1,200 LF $ 98.49 $ 118,188 SUBTOTAL A $ 118,188 B) ALLOCATED TO MD#5 _. 24"PVC ASTM F679 5,200 LF $ 98.49 $ 512,148 SUBTOTAL B $ 512,148 C) ALLOCATED TO MD#6 24"PVC ASTM F679 5,000 LF $ 98.49 $ 492,450 SUBTOTAL C $ 492,450 Subtotal 1,122,786 V)Street Improvements A) Off-Site Street Improvements` 17,036,014 Subtotal 17,036,014 VI) Cost Summary(Present Value) • Total Cost—Potable Water Facilities $ 5,690,600 • Total Cost—Sanitary Sewer Improvements $ 1,122,786 • Total Cost—Off-Site Street Improvements $ 17,036,014 • Total Cost—Non-Potable Water Facilities $ 5,000,000 Pioneer Regional Metropolitan District Total $ 29,849,400 Note: *Off-Site Street Improvements include those improvements whose timing,etc.will be determined thru detailed studies during the Zoning process. 1/9/2006 2:21 PM Page 5 y4) PIONEER METROPOLITAN DISTRICT #1 UNIT TOTAL DESCRIPTION QNTY UNIT COST COST II) Sanitary Sewer Improvements '- 21"PVC ASTM F679 5,000 LF 75.52 377,600 18"PVC ASTM F679 1,700 LF 70.80 120,360 15"PVC SDR 35 7,200 LF 56.64 407,608 12"PVC SDR 35 800 LF 49.56 39,648 SUBTOTAL II $ 945,416 III) Water System Improvements 16"D.LP' 22000 LF $ 112.10 $ 2,466,200 SUBTOTAL III $ 2,466,200 IV) Storm Drainage Improvements DUAL 66"RCP STORM SEWER 1300 LF $ 535.72 $ 696,436 48"RCP STORM SEWER 3000 LF 122.72 368,160 DETENTIONM/ATER QUALITY POND EXCAVATION 137000 CY 2.07 283,590 CUSTOM POND OUTLET STRUCTURE 2 EA 33,040.00 66,080 SUBTOTAL IV $ 1,414,266 V) Street Improvements 6 LANE STRATIGIC ROADWAY 3.000 LF $ 419.00$ 1,257,000 4 LANE STRATIGIC ROADWAY 0 LF 331.00 4 LANE URBAN ARTERIAL 7,500 LF 200.00 1,500,000 2 LANE URBAN ARTERIAL 12,200 LF 213.00 2,598,600 2 LANE RURAL ARTERIAL 7,400 LF 158.00 1,169,200 2 LANE COLLECTOR 3,700 LF 258.00 954,600 TRAFFIC SIGNALS 6 EA 200,000.00 1,200,000 SUBTOTAL V $ 8,679,400 1/9/2006 2:21 PM Page 6 97 PIONEER METROPOLITAN DISTRICT #1 UNIT TOTAL DESCRIPTION ONTY UNIT COST COST VI) Community Facilities _ PARKS -Neighborhood Park 5(N5) 12.5 AC 141 600.00 $ 1,770,000 ENTRY FEATURES -Entry Feature 5(E5) 1 EA 100,30000 100,300 — -Entry Feature 6(E6) 1 EA 354,000.00 354,000 -Entry Feature a(Es) 1 EA 59,000.00 59,000 -Neighborhood Entry Features 2 EA 29,50000 59,000 STREETSCAPE -6 Lane Stag.Rd. 3,000 LF 115.64 346,920 -4 Lane Stag.Rd. 0 LF 298.54 0 -4 Lane Urban Arterial 7,500 LF 315.06 2,362,950 -2 Lane Urban Arterial 12,200 LF 330.40 4,030,880 -2 Lane Rural Arterial 7,400 LF 122.72 908,128 -2 Lane Collector 3,700 LF 153.40 567,580 FENCING -6 Lane Stag.Rd. 0 LF 0.00 0 -4 Lane Urban Arterial 10,000 LF 25.96 259,600 -2 Lane Urban Arterial 24,400 LF 22.42 547,048 -2 Lane Rural Arterial 2,300 LF 22.42 51,566 — -2 Lane Collector 7,400 LF 22.42 165,908 TRAILS -Major Trails(10'concrete) 8,400 LF 82.60 693,840 -Secondary Trails(6'concrete) 9,200 LF 49.56 455,952 --• OIL 8 GAS WELL SCREENING 3 EA 59,000.00 177,000 SUBTOTAL VI 9 12,909,672 VII) Cost Summary (Present Value) • Total Cost—Sanitary Sewer Improvements $ 945,416 • Total Cost—Water System Improvements $ 2,466,200 — • Total Cost—Storm Drainage Improvements $ 1,414,266 • Total Cost—Street Improvements $ 8,679,400 • Total Cost—Community Facility Improvements $ 12,909,672 — Pioneer Metropolitan District #1 Total $ 26,414,954 1/9/2006 2:21 PM Page 7 91 PIONEER METROPOLITAN DISTRICT #2 UNIT TOTAL DESCRIPTION QNTY UNIT COST COST II) Sanitary Sewer Improvements 18"PVC ASTM F679 1,800 LF $ 70.80$ 127,440 12"PVC SDR 35 3,900 LF 49.56 193,284 8"PVC SDR 35 800 LF 38.94 31,152 SUBTOTAL II $ 351,876 III) Water System Improvements - 16"D.I.P. 11000 LF $ 112.10$ 1,233,100 SUBTOTAL III $ 1,233,100 - a IV) Storm Drainage Improvements DUAL 60"RCP STORM SEWER 2300 LF $ 379.96 $ 873,908 60"RCP STORM SEWER 1000 LF 189.98 189,980 -- DETENTION/VVATER QUALITY POND EXCAVATION 110000 CY 2.07 227,700 CUSTOM POND OUTLET STRUCTURE 2 EA 33.040.00 68,080 OPEN CHANNEL(100'WIDE LAND CORRIDOR) 800 LF 66.00 52,800 BRIDGES 1 EA 3,380,000.00 3,380,000 SUBTOTAL IV $ 4,790,468 V) Street Improvements 6 LANE STRATIGIC ROADWAY 0 LF $ 419.00$ - 4 LANE STRATIGIC ROADWAY 18,600 LF 331.00 6,156,600 4 LANE URBAN ARTERIAL 0 LF 200.00 - - 2 LANE URBAN ARTERIAL 9,000 LF 213.00 1,917,000 2 LANE RURAL ARTERIAL 10,500 LF 158.00 1,659,000 2 LANE COLLECTOR 1,200 LF 258.00 309,600 2 LANE RURAL ARTERIAL 0 LF 205.00 �' TRAFFIC SIGNALS 5 EA 200,000.00 1,000,000 SUBTOTAL V $ 11,042,200 1/9/2006 2:21 PM Page 8 ea • - PIONEER METROPOLITAN DISTRICT #2 UNIT TOTAL DESCRIPTION QNTY UNIT COST COST - VI) Community Facilities PARKS — -Neighborhood Park (N3) 12.5 AC 141,600.00$ 1,770,000 ENTRY FEATURES -Entry Feature(E4) 1 EA 177,000.00 150,000 -Neighborhood Entry Features 2 EA 29,500.00 59,000 -- STREETSCAPE -6 Lane Stag.Rd. 0 LF 115.64 0 -4 Lane Stag.Rd. 18,600 LF 298.54 5,552,844 -4 Lane Urban Arterial 0 LF 315.06 D — -2 Lane Urban Arterial 9,000 LF 330.40 2,973,600 -2 Lane Rural Arterial 10,500 LF 122.72 1,288,560 -2 Lane Collector 1,200 LF 153.40 184,080 FENCING -6 Lane Stag.Rd. 0 LF 0.00 0 -4 Lane Urban Arterial D LF 25.96 0 -2 Lane Urban Arterial 16,400 LF 22.42 367,688 -2 Lane Rural Arterial 4,700 LF 22.42 105,374 -2 Lane Collector 2,400 LF 22.42 53,808 TRAILS — -Major Trails(10'concrete) 5,700 LF 82.60 470,820 r.. -Secondary Trails(6'concrete) 14,100 LF 49.56 698,796 OIL&GAS WELL SCREENING 5 EA 59,000.00 295,000 SUBTOTAL VI $ 13,969,570 VII) Cost Summary (Present Value) • Total Cost—Sanitary Sewer Improvements $ 351,876 — • Total Cost—Water System Improvements $ 1,233,100 • Total Cost— Storm Drainage Improvements $ 4,790,468 • Total Cost—Street Improvements $ 11,042,200 — • Total Cost—Community Facility Improvements $ 13,969,570 Pioneer Metropolitan District #2 Total $ 31,387,214 1/9/2006 2:21 PM Page 9 CZ) PIONEER METROPOLITAN DISTRICT #3 UNIT TOTAL DESCRIPTION ONTY UNIT COST COST II) Sanitary Sewer Improvements 18"PVC ASTM F679 5,100 LF $ 70.80 $ 361,080 15"PVC SDR 35 4,550 LF 56.64 257,712 12"PVC SDR 35 3,200 LF 49.56 158,592 10'PVC SDR 35 700 LF 47.20 33,040 SUBTOTAL II $ 810,424 III) Water System Improvements - 16"D.I.P. 25000 LF $ 112.10$ 2,802,500 SUBTOTAL III $ 2,802,500 - IV) Storm Drainage Improvements DUAL 66"RCP STORM SEWER 600 LF $ 535.72 $ 321,432 66"RCP STORM SEWER 700 LF 267.86 187,502 48"RCP STORM SEWER 2000 LF 122.72 245,440 DETENTION/WATER QUALITY POND EXCAVATION 174000 CY 2.07 360,180 CUSTOM POND OUTLET STRUCTURE 3 EA 33,040.00 99,120 OPEN CHANNEL(100'WIDE LAND CORRIDOR) 1500 LF 66.00 99,000 CULVERTS 2 EA 222,500.00 445,000 SUBTOTAL IV $ 1,757,674 V) Street Improvements 6 LANE STRATIGIC ROADWAY 0 LF $ 419.00 $4 LANE STRATIGIC ROADWAY 0 LF 331.00 4 LANE URBAN ARTERIAL 2,100 LF 200.00 420,000 - 2 LANE URBAN ARTERIAL 7,500 LF 213.00 1.597,500 2 LANE RURAL ARTERIAL 0 LF 158.00 2 LANE COLLECTOR 14,400 LF 258.00 3,715,200 TRAFFIC SIGNALS 3 EA 200,000.00 600,000 SUBTOTAL V $ 6,332,700 1/9/2006 2:21 PM Page 10 PIONEER METROPOLITAN DISTRICT #3 UNIT TOTAL DESCRIPTION ONTY UNIT COST COST VI) Community Facilities PARKS -Community Park 70 LS E 6,500,000 -Neighborhood Park (N7) 12.5 AC 141,600.00 1,770,000 ENTRY FEATURES -Entry Feature(E4) 0 EA 0.00 0 -Neighborhood Entry Features 2 EA 29,500.00 59,000 STREETSCAPE -6 Lane Stag.Rd. 0 LF 115.64 0 -4 Lane Stag.Rd. 0 LF 298.54 0 -4 Lane Urban Arterial 2,100 LF 315.06 661,626 -2 Lane Urban Arterial 7,500 LF 330.40 2,478,000 -2 Lane Rural Arterial 0 LF 122.72 0 -2 Lane Collector 14,400 LF 153.40 2,208,960 — FENCING -6 Lane Stag.Rd. 0 LF 0.00 0 -4 Lane Urban Arterial 0 LF 25.96 0 -2 Lane Urban Arterial 20,200 LF 22.42 452,884 -2 Lane Rural Arterial 0 LF 22.42 0 -2 Lane Collector 26,000 LF 22.42 582,92D TRAILS -Major Trails(10'concrete) 13,800 LF 82.60 1,139,880 ^ -Secondary Trails(6'concrete) 5,600 LF 49.56 277,536 OIL S,GAS WELL SCREENING 2 EA 59,000-00 118,000 SUBTOTAL VI $ 16,248,806 "- VII) Cost Summary (Present Value) • Total Cost—Sanitary Sewer Improvements $ 810,424 • Total Cost—Water System Improvements $ 2,802,500 • Total Cost—Storm Drainage Improvements $ 1,757,674 • Total Cost—Street Improvements $ 6,332,700 • Total Cost—Community Facility Improvements $ 16,248,806 Pioneer Metropolitan District #3 Total $ 27,952,104 1/9/2006 2:21 PM Page 11 fa_ PIONEER METROPOLITAN DISTRICT #4 DESCRIPTION QNTY UNIT COST COST II) Sanitary Sewer Improvements 18"PVC ASTM F679 4,600 LF $ 70.80$ 325,680 15"PVC SDR 35 13,200 LF 56.64 747,648 12"PVC SDR 35 1.250 LF 49.56 61,950 10"PVC SDR 35 800 LF 47.20 37,760 8"PVC SDR 35 700 LF 38.94 27,258 SUBTOTAL II $ 1,200,296 III) Water System Improvements 16"D.I.P. 11000 LF $ 112.10 $ 1.233,100 12"PVC C900 12600 LF 60.18 758,268 SUBTOTAL III $ 1,991,368 IV) Storm Drainage Improvements 66"RCP STORM SEWER 1000 LF $ 267.86 $ 267,860 - 48"RCP STORM SEWER 2000 LF 122.72 245,440 36"RCP STORM SEWER 700 LF 86.14 60,298 DETENTION/VVATER QUALITY POND EXCAVATION 146500 CY 2.07 303,255 CUSTOM POND OUTLET STRUCTURE 5 EA 33,040.00 165,200 OPEN CHANNEL(100'WIDE LAND CORRIDOR) 1000 LF 66.00 66,000 BRIDGES 1 EA 3,815,000.00 3,815,000 SUBTOTAL IV 6 4,923,053 V) Street Improvements 6 LANE STRATIGIC ROADWAY 0 LF $ 419.00 $ - 4 LANE STRATIGIC ROADWAY 10,800 LF 331.00 3.574.800 - 4 LANE URBAN ARTERIAL 0 LF 200.00 - 2 LANE URBAN ARTERIAL 11.600 LF 213.00 2.470 800 2 LANE RURAL ARTERIAL 3,000 LF 158.00 474,000 2 LANE COLLECTOR 8,500 LF 258.00 2,193,000 TRAFFIC SIGNALS 2 EA 200,000.00 400,000 SUBTOTAL V $ 9,112,600 1/9/2006 2:21 PM Page 12 s PIONEER METROPOLITAN DISTRICT #4 UNIT TOTAL DESCRIPTION ONTY UNIT COST COST — VI) Community Facilities PARKS -Neighborhood Park(N4) 12.5 AC 141,600.00$ 1,770,000 — -Neighborhood Park (N6) 12.5 AC 141,600.00$ 1,770,00D ENTRY FEATURES -Entry Feature(E7) 1 EA 35,400.00 35,400 -Neighborhood Entry Features 2 EA 29,500.00 59,000 — STREETSCAPE -6 Lane Stag.Rd. 0 LF 115.64 0 -4 Lane Stag,Rd. 10,800 LF 298.54 3,224,232 ir— -4 Lane Urban Arterial 0 LF 315.06 0 -2 Lane Urban Arterial 11,600 LF 330.40 3,832,640 -2 Lane Rural Arterial 3,000 LF 122.72 368,160 -2 Lane Collector 8,500 LF 153.40 1,303,900 — FENCING -6 Lane Stag.Rd. 0 LF 0.00 0 -4 Lane Urban Arterial 0 LF 25.96 0 -2 Lane Urban Arterial 23,200 LF 22.42 520,144 — -2 Lane Rural Arterial 6,000 LF 22.42 134,520 -2 Lane Collector 17,000 LF 22.42 381,140 TRAILS -Major Trails(10'concrete) 16,600 LF 82.60 1,371,160 - ^ -Secondary Trails(6'concrete) 6,100 LF 49.56 302,316 OIL&GAS WELL SCREENING 12 EA 59,000.00 708,000 SUBTOTAL VI $ 15,780,612 VII) Cost Summary (Present Value) • Total Cost—Sanitary Sewer Improvements $ 1,200,296 — • Total Cost—Water System Improvements $ 1,991,368 • Total Cost—Storm Drainage Improvements $ 4,923,053 • Total Cost—Street Improvements $ 9,112,600 • Total Cost—Community Facility Improvements $ 15,780,612 Pioneer Metropolitan District #4 Total $ 33,007,929 1/9/2006 2:21 PM Page 13 sy "' PIONEER METROPOLITAN DISTRICT #5 UNIT TOTAL DESCRIPTION ONTY UNIT COST COST II) Sanitary Sewer Improvements 18"PVC ASTM F679 9,600 LF 70.80 679,680 15"PVC SDR 35 5,000 LF 56.64 283200 8"PVC SDP 35 6,000 LF 38.94 233,640 SUBTOTAL II $ 1,196,520 III) Water System Improvements 16"D.I.P. 25400 LF $ 11210 $ 2,847,340 - 12"PVC C900 14000 LF 60.18 842,520 SUBTOTAL III $ 3,689,860 IV) Storm Drainage Improvements — 66"RCP STORM SEWER 2500 LF $ 267.86 $ 669,650 48"RCP STORM SEWER 2000 LF 122.72 245,440 DETENTION/WATER QUALITY POND EXCAVATION 127000 Cy 2.07 262,890 - CUSTOM POND OUTLET STRUCTURE 3 EA 33,040.00 99,120 SUBTOTAL IV $ 1,277,100 V) Street Improvements 6 LANE STRATIGIC ROADWAY 0 LF $ 419.00$ 4 LANE STRATIGIC ROADWAY 0 LF 331.00 - 4 LANE URBAN ARTERIAL 0 LF 200.00 - 2 LANE URBAN ARTERIAL 5,200 LF 213.00 1,107,600 2 LANE RURAL ARTERIAL 16,000 LF 158.00 2,528,000 2 LANE COLLECTOR 8,200 LF 258.00 2,115.600 -" TRAFFIC SIGNALS 0 EA 200,000.00 - SUBTOTAL V $ 5,751,200 1/9/2006 2:21 PM Page 14 $5 PIONEER METROPOLITAN DISTRICT #5 UNIT TOTAL DESCRIPTION ONTY UNIT COST COST — VI) Community Facilities PARKS -Neighborhood Park (N1) 12.5 AC 141,600.00$ 1,770,000 — ENTRY FEATURES -Entry Feature(El) 1 EA 35 400.00 35,400 -Entry Feature(E2) 1 EA 61,000 O0 61,000 -Entry Feature(E3) 1 EA 35 400.00 35,400 — -Neighborhood Entry Features 2 EA 29,500.00 59,000 STREETSCAPE -6 Lane Stag.Rd. 0 LF 115.64 0 -4 Lane Stag.Rd. 0 LF 298.54 0 4 Lane Urban Arterial 0 LF 315.06 0 -2 Lane Urban Arterial 5,200 LF 330.40 1,718,080 -2 Lane Rural Arterial 16,000 LF 122.72 1,963,520 — -2 Lane Collector 8,200 LF 153.40 1257,880 FENCING -6 Lane Stag.Rd. 0 LF 0.00 0 -4 Lane Urban Arterial 0 LF 25.96 0 — -2 Lane Urban Arterial 7,400 LF 22.42 165,908 -2 Lane Rural Arterial 10,700 LF 22.42 239,894 -2 Lane Collector 12,900 LF 22.42 289,218 TRAILS — - ' -Major Trails(10'concrete) 13,000 LF 82.60 1,073,800 -Secondary Trails(6'concrete) 0 LF 49.56 0 -Neves Canal Trail(10'crusher fines) 5,000 LF 41.30 206,500 OIL&GAS WELL SCREENING 4 EA 59,000.00 236,000 - SUBTOTAL VI $ 9,111,600 VII) Cost Summary (Present Value) — • Total Cost—Sanitary Sewer Improvements $ 1,196,520 • Total Cost—Water System Improvements $ 3,689,860 • Total Cost—Storm Drainage Improvements $ 1,277,100 — • Total Cost—Street Improvements $ 5,751,200 • Total Cost—Community Facility Improvements $ 9,111,600 Pioneer Metropolitan District #5 Total $ 21,026,280 1/9/2006 2:21 PM Page 15 sz PIONEER METROPOLITAN DISTRICT #6 UNIT TOTAL DESCRIPTION QNTY UNIT COST COST II) Sanitary Sewer Improvements 21"PVC ASTM F679 3,700 LF 75.52 279,424 18"PVC ASTM F679 2,700 LF 70.80 191,160 15"PVC SDR 35 1,600 LF 56.64 90,624 SUBTOTAL II $ 561,208 III) Water System Improvements • 16"D.I.P. 6000 LF $ 112.10$ 672.600 SUBTOTAL III $ 672,600 -"a, IV) Storm Drainage Improvements DUAL 66"RCP STORM SEWER 2200 LF $ 535.72 $ 1,178,584 66"RCP STORM SEWER 2300 LF 267.86 616,078 DETENTION/WATER QUALITY POND EXCAVATION 149000 CY 2.07 308,430 CUSTOM POND OUTLET STRUCTURE 1 EA 33,040.00 33,040 SUBTOTAL IV $ 2,136,132 V) Street Improvements 6 LANE STRATIGIC ROADWAY 0 LF $ 419.00$ 0 4 LANE STRATIGIC ROADWAY 0 LF 331.00 0 4 LANE URBAN ARTERIAL 0 LF 200.00 0 2 LANE URBAN ARTERIAL 0 LF 213.00 0 2 LANE RURAL ARTERIAL 0 LF 158.00 0 2 LANE COLLECTOR 0 LF 258.00 0 TRAFFIC SIGNALS 0 EA 200,000.00 0 SUBTOTAL V $ 0 1/9/2006 2:21 PM Page 16 9'' PIONEER METROPOLITAN DISTRICT #6 UNIT TOTAL DESCRIPTION (ATY UNIT COST COST VI)Community Facilities PARKS -Neighborhood Park (N7) 5 AC 147,500.00$ 737,500 ENTRY FEATURES -Entry Feature(E9) 1 EA 236,000.00 236,000 -Neighborhood Entry Features 0 EA 29,500.00 0 STREETSCAPE -6 Lane Stag.Rd. 0 LF 115.64 0 -4 Lane Stag.Rd. 0 LF 298.54 0 -4 Lane Urban Arterial 0 LF 315.06 0 -2 Lane Urban Arterial 0 LF 330.40 0 -2 Lane Rural Arterial 0 LF 122.72 0 -2 Lane Collector 0 LF 153.40 0 FENCING -6 Lane Stag.Rd. 0 LF 0.00 0 -4 Lane Urban Arterial 0 LF 25.96 0 -2 Lane Urban Arterial 0 LF 22.42 0 -2 Lane Rural Arterial 0 LF 22.42 0 -2 Lane Collector 0 LF 22.42 0 TRAILS -Major Trails(10'concrete) 2,600 LF 82.60 214,760 -Secondary Trails(6'concrete) 3,700 LF 49.56 163,372 -Box Elder Creek Trail(10'crusher fines) 5,500 LF 41.30 227,150 OIL 8 GAS WELL SCREENING 4 EA 59,000.00 236,000 SUBTOTAL VI $ 1,834,782 VII) Cost Summary (Present Value) • Total Cost—Sanitary Sewer Improvements $ 561,208 • Total Cost—Water System Improvements $ 672,600 • Total Cost— Storm Drainage Improvements $ 2,136,132 • Total Cost—Street Improvements $ 0 • Total Cost—Community Facility Improvements $ 1,834,782 Pioneer Metropolitan District #6 Total $ 5,204,722 1/9/2006 2:21 PM Page 17 r SD0126 2006-0405 Large Map Located in Original File Pioneer Metropolitan Districts Map Not Scanned SD0126 2006-0405 Large Map Located in Original File Pioneer Infrastructure Concept Map On Site Sanitary Sewer Collection Not Scanned 40 SD0126 2006-0405 Large Map Located in Original File Pioneer Infrastructure Concept Map On Site Potable Water Distribution Not Scanned 4 / SD0126 2006-0405 Large Map Located in Original File Pioneer Infrastructure Concept Map Regional Storm Water Ponds/Conveyance Not Scanned SD0126 2006-0405 Large Map Located in Original File Pioneer Infrastructure Concept Map Roadways Not Scanned r SD0126 2006-0405 Large Map Located in Original File Pioneer Conceptual Open Space/Trails Plan Not Scanned y List of Improvements and Preliminary Engineers Estimate of Costs; District Cost Assumption Backup for Pioneer Regional Metropolitan District Pioneer Metropolitan Districts 1 thru 6 District Cost Assumptions Notes: 1. All costs are in 2005 dollars. 2. Sanitary sewer constructed by Resource Colorado District and by Pioneer Regional Metropolitan District have been allocated to the 6 metropolitan districts by geographic area. 3. Unit Prices: • Sanitary Sewer,Water&Storm Sewer based on pricing from Tierdael Construction Company, 8-18-05. • Grading costs based on pricing provided by Bemas Construction, Inc.,8-19-05. • Paving costs based on pricing provided by Premier Paving, Inc., 8-19-05. • Landscaping costs based on pricing provided by Gage Davis&Associates, 8-24-05. • Waste Water Treatment Plant and Potable Water Treatment/Storage costs based on pricing provided by Brad Simons, PE, Gateway American Resources, 8-25-05. • Bridge and Culvert costs provided by Daryl Lindeman, P.E. Carroll&Lange, Inc.,8-25-05. -- • I-76 Interchange &Traffic Signal costs based on pricing provided by Benjamin Waldman, PE, LSC Consultants, Inc., 8-18-05. Sanitary Sewer Improvement Assumptions: 1. Unit costs for sanitary sewer mains anticipate an average depth of 11'. 2. Unit costs for sanitary sewer include one(1)manhole every 300 LF. 3. Sanitary mains between 8"-24"shall use 4'-DIA manholes. 4. Sanitary mains greater than or equal to 27"shall use 5'-DIA manholes. Water System Improvement Assumptions: 1. Unit costs for water mains include one(1)standard fire hydrant assembly, including a tee, valve, fire hydrant, and approximately 15 LF of 6"DIP,every 1000 LF. 2. Unit costs for water mains include one(1)fitting, tee or cross, every 600 LF. 3. Unit costs for water mains include one butterfly valve every 600 LF. 4. Curvilinear waterline alignments shall be constructed with joint deflections. Fittings for curvilinear alignments are not included in this cost estimate. Storm Drainage Improvement Assumptions: 1. Unit costs for storm sewer mains include one(1)manhole every 300 LF. 2. Storm mains between 18"- 30"shall use 4'-DIA manholes. 3. Storm mains between 33"- 42"shall use 5'-DIA manholes. 4. Storm mains between 48"- 54"shall use 6'-DIA manholes. 5. Storm mains greater than 54"shall use box base manholes. — 6. A 10'Type'R'inlet, with 20'of 18"CL III RCP lateral, is assumed to occur every 300'along storm mains. 7. Custom pond outlets consist of two type'D'inlets with three orifice plates and 150'of 48"CL III RCP outlet pipe with a flared end section and very heavy rip-rap protection. 8. Drainage channels are assumed to need a 100'wide corridor,be graded six feet deep with 4:1 side slopes, with a six-foot bottom width containing a four-foot wide concrete trickle channel with 6-inch high curbing on each side. The entire corridor will be native grass-lined and will have an eight-foot wide gravel maintenance access road along the top of one side. Street Improvement Assumptions: • 1. All street constructed with full depth asphalt with the following thicknesses: 6 Lane Strategic Roadway: 12" 4 Lane Strategic Roadway: 12" 4 Lane Urban Arterial: 12" 2 Lane Urban Arterial: 10" 2 Lane Rural Arterial: 10" 2 Lane Collector: 10" UNIT PRICES UNIT UNIT SANITARY COST 33" SPIRAL WOUND PVC ASTM F794 $123.90 LF 30'SPIRAL WOUND PVC ASTM F794 $113.28 LF 27"PVC ASTM F679 $88.50 LF 24"PVC ASTM F679 $79.06 LF 21'PVC ASTM F679 $75.52 LF -� 18'PVC ASTM F679 $70.80 LF 15"PVC SDR 35 $56.64 LF 12"PVC SDR 35 $49.56 LF 10"PVC SDR 35 $47.20 LF 8"PVC SDR 35 $38.94 LF WATER 16"D.I.P. $112.10 LF 12'PVC C900 $60.18 LF STORM DUAL 66'RCP STORM SEWER $535.72 LF DUAL 60"RCP STORM SEWER $379.96 LF 72'RCP STORM SEWER $313.88 LF 66'RCP STORM SEWER $267.86 LF 60"RCP STORM SEWER $189.98 54'RCP STORM SEWER LF $154.58 LF 48'RCP STORM SEWER $122.72 42'RCP STORM SEWER LF $105.02 LF 36"RCP STORM SEWER $86.14 30"RCP STORM SEWER LF $76.70 LF 24"RCP STORM SEWER $70.80 IF 18"RCP STORM SEWER $66.08 EA DETENTIONNVATER QUALITY POND EXCAVATION $2.07 CUSTOM POND OUTLET STRUCTURE EA $33,040.00 EA OPEN CHANNEL(100'WIDE LAND CORRIDOR) $66.00 LF STREET 6 LANE STRATIGIC ROADWAY $419.00 LF 4 LANE STRATIGIC ROADWAY $331.00 4 LANE URBAN ARTERIAL LF '- $200.00 LF 2 LANE URBAN ARTERIAL $213.00 LF 2 LANE RURAL ARTERIAL $158.00 LF 2 LANE COLLECTOR $258.00 LF Note: All Unit Costs include the following: 18%for Design, Staking&Testing; Construction Management;and Contingency C•7" a Tierdael Construction Company General Contractors -. ®1775 EAST 69TH AVENUE A ` DENVER,COLORADO 80229 BUS: (303)287-7700 FAX: (303)287-1790 BUDGET ESTIMATE UNIT PRICES GATEWAY AMERICAN PROPERTIES 9145 E.KENYON AVE.,SUITE 200 DENVER,COLORADO 80237 (303)843-9742 FAX(303)43-0143 ATTENTION:PAULL NATION,jr PROJECT: PIONEER FARMS SUBDIVISION-BUDGET ESTIMATE OWNER:GATEWAY AMERICAN Addenda NO. DESCRIPTION UN QUANT AVG.UNIT A SANITARY SEWER I 33"SANITARY SEWER PIPE LF I S 105.00 2 30"SANITARY SEWER PIPE LF I $ 96.00 3 27"SANITARY SEWER PIPE LF I S 75.00 4 24"SANITARY SEWER PIPE LF I S 67.00 5 21"SANITARY SEWER PIPE LF I $ 64.00 6 I8"SANITARY SEWER PIPE LF I $ 60.00 7 IS"SANITARY SEWER PIPE LF I $ 48.00 8 12"SANITARY SEWER PIPE LF I S 42.00 9 10"SANITARY SEWER PIPE LF I $ 40.00 I0 8"SANITARY SEWER PIPE - LF 1 $ 33.00 -' 8 WATER SYSTEM I 16"DIP WATER PIPE LF I $ 95.00 2 12"C-900 PVC WATER PIPE LF I S 51.00 3 8"C-900 PVC WATER PIPE LE I $ 38.00 C STORM SEWER I 72"CL III RCP LF I S 266.00 2 66"CL III RCP LF I S 227.00 3 60"CL III RCP LF 1 $ 161.00 4 54"CL III RCP LF I $ 131.00 5 48"CL III RCP LF I S 104.00 "- 6 42"CL III RCP LF I $ 89.00 7 36"CL III RCP LF 1 S 73.00 8 30"CL III RCP LE I $ 65.00 9 24"CL III RCP LF I S 60.00 I0 18"CL III RCP LF 1 $ 56.00 11 CUSTOM POND OUTLET STRUCTURE LS 1 $ 28,000.00 1 of 1 IS MEMO TO: Tom DiRito FROM: Brad Simons CC: Paull Nation DATE: August 25, 2005 RE: Wastewater/Water Facilities—District Cost Estimates Following is a summary of the estimated capital costs for Resource Colorado's wastewater and water facilities, as well as Pioneer's control district's water facilities. RESOURCE COLORADO'S WASTEWATER FACILITIES As presented to you on Friday, August 19, preliminary planning for Resource Colorado's wastewater treatment facilities anticipates the improvements being constructed in four phases. These phases, their respective capacities and resulting total capacity are tabulated below. — Phase Phase Capacity Total Plant Capacity 1 300,000 gpd 300,000 gpd 2 700,000 gpd 1,000,000 gpd 3 1,000,000 gpd 2,000,000 gpd 4 2,000,000 gpd 4,000,000 gpd These phased improvements generate capacity for a quantity of ERUs dependent upon the average daily flow per ERU. For planning purposes, a value of 320 gallons per day per ERU is commonly used,but the actual flow can be considerably less than this value. Recent use of low flow devices in new construction has resulted in a value of 240 gallons per day per ERU or less. ERU capacities for each of these phases are tabulated below for 320 and 240 gpd per ERU. Phase Phase Capacity At 320 gpd per ERU At 240 gpd per ERU 1 300,000 gpd 938 1250 2 700,000 gpd 2188 2917 3 1,000,000 gpd 3125 4167 4 2,000,000 gpd 6250 8333 Memo to Torn DiRito August 25,2005 Page Two In accordance with State of Colorado requirements,once influent flows approach 80 percent of total plant capacity,planning for the subsequent phase will begin. In accordance with the same State requirements,construction of each subsequent phase will begin once influent flows approach 95 percent of total plant capacity. The general trigger points for the planning and . - construction of the incremental phases are tabulated below,but these trigger points could be reduced as a result of actual development projections in the future. — Phase Planning Trigger Construction Trigger 1 N/A N/A 2 240,000 gpd 285,000 gpd 3 800,000 gpd 950,000 gpd 4 1,600,000 gpd 1,900,000 gpd For costing purposes, information associated with four recently constructed wastewater treatment facilities was assembled. These facilities are all"new"in terms of unit processes. The facilities, treatment technologies, capacities and costs are tabulated below. Facility Technology Capacity Cost Lochbuie CAS 1.0 MGD $5.6M Milliken Aeromod 0.7 MGD $5.2M Berthoud CAS 2.0 MGD $7.8M Wellington Oxidation Ditch 0.45 MGD $5.1M The raw costs for Lochbuie's new facility equate to$5.60 per gallon of capacity. The improvements do not include a permanent headworks structure, and only limited disinfection facilities were constructed,but many unit processes were constructed to a capacity of 1.5 MGD. — The raw costs for Milliken's new facility equate to$7.43 per gallon of capacity. The improvements utilized the existing headworks structure to reduce construction costs,but the project incorporated a higher architectural component. The raw costs for Berthoud's new facility equate to$3.90 per gallon of capacity. The improvements utilized the existing solids processing facilities to reduce construction costs. The raw costs for Wellington's new facility equate to$11.33 per gallon of capacity, but the majority of the facility has an actual capacity of 0.7 MGD. Accordingly, the raw costs can be approximated to be$7.28 per gallon of capacity. /70 Memo to Tom DiRito August 25,2005 Page Three Based upon the raw costs summarized above,an estimated cost of$8.00 per gallon of capacity is used for Phase 1 of Resource Colorado's new wastewater treatment facility. Implementing a 10 percent contingency on the estimated cost of$8.00 per gallon, the Phase I capacity of 300,000 gallons per day is estimated to cost$2,640,000. surveying, engineering and construction — management costs are in addition to this construction cost estimate. Cost estimates,including the 10 percent contingency but excluding surveying, engineering and construction management costs, for the subsequent phases of Resource Colorado's wastewater treatment facility are tabulated below. Phase Phase Capacity Cost per Gallon Phase Cost 2 700,000 gpd $7.50 $5,250,000 3 1,000,000 gpd $6.50 $6,500,000 4 2,000,000 gpd $5.00 $10,000,000 — Resource Colorado's cost estimates, as presented above,do not include any costs associated with collection lines,metering facilities,lift stations or interceptor sewers. RESOURCE COLORADO'S WATER FACILITIES Appendix F to Pioneer's Comprehensive Plan Amendment application, dated July 29, 2005, identifies a total water resource planning number of 4,150 acre-feet of water annually for 10,000 ERUs. The infrastructure necessary to deliver this quantity of water on an annual basis to Pioneer's boundaries includes wells,gathering pipelines, treatment facilities(consisting of simple chlorination), storage tanks,booster pumping facilities and transmission pipelines. The initial improvements anticipate facilities capable of delivering approximately half of the annual supply(2,250 acre-feet)necessary for indoor and outdoor uses. Approximately 1,435 acre-feet of this initial amount will be used for indoor purposes, while the remaining 815 acre-feet will be used for outdoor purposes. An estimated 18 water wells within the Lost Creek Designated Groundwater Basin will need to be reconstructed and equipped to meet the initial supply amount and provide some water production redundancy. An estimated 10 miles of gathering pipeline will need to be constructed from the wells to the treatment facilities(20' by 20' buildings and equipment)and storage tanks. The booster pumping facilities(30' by 30' buildings and equipment)will be constructed and equipped in phases to meet delivery demands. A maximum pumping capacity of five times annual average demand is anticipated, so the initial improvements anticipate a peak capacity of approximately 7,000 gpm achieved in phases. The initial transmission pipeline is anticipated to be 30 inches in diameter and run an estimated 10 miles to the treatment, storage and distribution facilities of the Pioneer Water and Sanitation District(i.e. control district). The costs estimates associated with Resource Colorado's initial improvements are tabulated below. 7/ — Memo to Tom DiRito August 25, 2005 Page Four Item Quantity Unit Unit Price Cost Estimate Well 18 Each $115,000 $2,070,000 6"Gathering 26,400 Feet $27.00 $712,800 — 8"Gathering 15,840 Feet $36.00 $570,240 12"Gathering 10,560 Feet $54.00 $570,240 Treatment 2 Each $100,000 $200,000 — Storage 2,000,000 Gallons $1.00 $2,000,000 Pumping Station 2 Each $360,000 $720,000 30"Transmission 52,800 Feet $135.00 $7,128,000 - Subtotal $13,971,280 Contingency(10%) $1,397,128 Total $15,368,408 Over time,the return flows from indoor and outdoor water uses are anticipated to be the augmentation supply for a dual water system whereby the non-potable irrigation water will be pumped from shallow alluvial wells in the Box Elder Creek Drainage Basin. For 10,000 ERUs, the outdoor water requirements equate to 1,500 acre-feet annually. Return flows in the form of wastewater effluent from indoor water uses are anticipated to be approximately 2,250 acre-feet annually—more than adequate to augment the anticipated outdoor water uses. Accordingly, as — Pioneer Communities develops, Resource Colorado's initial water system improvements will only require minimal improvements to accommodate the secondary phase of improvements. The second phase of infrastructure will need to increase the total annual delivery amount to 2,650 acre-feet for indoor water uses and will include additional wells, gathering pipelines, treatment facilities (consisting of simple chlorination), storage tanks,booster pumping facilities and transmission pipelines. With the outdoor water demands being met through the non-potable — irrigation component of the dual water system,Resource Colorado's additional improvements will only be expected to meet the additional indoor water demands and provide a degree of redundancy for the total of 10,000 ERUs. The costs estimates associated with Resource Colorado's secondary improvements are tabulated below. 7- Memo to Tom DiRito August 25, 2005 Page Five — — Item Quantity Unit Unit Price Cost Estimate Well 4 Each $115,000 $460,000 6"Gathering 10,560 Feet $27.00 $285,120 — 8"Gathering 5,280 Feet $36.00 $190,080 12"Gathering 5,280 Feet $54.00 $285,120 Treatment 1 Each $100,000 $100,000 Storage 2,000,000 Gallons $1.00 $2,000,000 Pumping Station 1 Each $340,000 $340,000 24"Transmission 31,680 Feet $110.00 $3,484,800 — Subtotal $7,145,120 Contingency(10%) $714,512 Total $7,859,632 Future wholesale customers of Resource Colorado's water facilities could benefit from the initial and secondary improvements constructed to serve Pioneer Communities,but additional — improvements constructed to serve these same future wholesale customers could also benefit Pioneer Communities by providing overall system redundancy, as well as possibly alternate points of delivery. — PIONEER COMMUNITIES' WATER FACILITIES Once delivered to Pioneer's boundaries through Resource Colorado's water facilities, additional — water facilities are needed for the Pioneer Water and Sanitation District (i.e. control district). These facilities will include blending facilities(with on-site water sources), treatment facilities (consisting of simple chlorination),storage tanks,booster pumping facilities and distribution — pipelines. The costs estimates associated with the control district's infrastructure, excluding on- site water sources(i.e.Denver Basin wells) for 10,000 ERUs are tabulated below. — Item Quantity Unit Unit Price Cost Estimate Blending/Treatment 1 Each $230,000 $230,000 Storage 5,000,000 Gallons $1.00 $5,000,000 Pumping Station 1 Each $440,000 $440,000 Subtotal $5,670,000 Contingency(10%) $567,000 Total $6,237,000 V Carroll & Lange /(\ Professional Engineers&Land Surveyors Lakewood • Winter Park August 25, 2005 JN: 3325 Project Pioneer Subject: Major Drainage Crossings Concept Stage Budget Estimate A. Keensburq Tributary Roadway Crossings (double 12' x 6' CDOT Box Culverts) 1. North Crossing under 4 Lane Arterial (120' +/- back of walk to back of walk) assume 4'cover and 4:1 at each end to headwalls: 4 x 4 x(2)= 32 120 + 32 = 152'; assume length = 160' Structure cost 160' x 2.3 CY/LF x $300/CY = $ 110,000 Channel transition grading &erosion protection plus revegetation, wingwalls, and safety railing $ 50,000 Subtotal $ 160,000 Concept-Stage Estimated Total $ 235,000 (including construction contingency (20%), design, staking, and testing (20%), and construction management(7%)). 2. South Crossing under 2 Lane Collector (100 ' +/- back of walk to back of walk) assume 4' cover and 4:1 at each end to headwalls = 4 x 4 x (2) = 32 100 + 32 = 132', assume length = 135' Structure cost 135' x 2.3 CY/LF x $300/CY= $ 93,000 - Channel transition grading and erosion protection Plus revegetation, wingwalls, and safety railing $ 50,000 _ Subtotal $ 143,000 Concept-Stage Estimated Total: $ 210,000 (including construction contingency (20%), design, staking, and testing (20%), and construction management (7%)). P.O.Box 3345 63 Cooper Creek Way, Suite 328 165 South Union Blvd., Suite 156 Winter Park,CO 80482-3345 Lakewood,CO 80228 (970)726-8100 Fax 726-9100 (303)980-0200 Fax 980-0917 Denver-Winter Park Dir. 980-9600 '7y B. Box Elder Creek Roadway Crossings (side by side bridges) 1. Box Elder Creek under WCR22 (4 Lane Strategic Arterial} Due to median condition and no nearby intersections, assume twin bridges with 2 lanes plus 6' walk/pedestrian refuge for each direction. Total edge-to-edge bridge width (each structure) assumed to be 36' +/-. Span length is assumed to be 300' (90° stream crossing) Total structure deck area (both bridges): 300' x 36' x 2 structures = 21,600 SF Structures only cost: 21,600 SF x$90/SF= $ 1,944,000 Channel transition grading, spur dikes, erosion projection, revegetation, guardrails, and 5' average fill for the roadway for% miles west of the bridge. $ 354,000 Subtotal $2,298,000 Concept-Stage Estimated Total: $3,380,000 (including construction contingency (20%), design, — staking, and testing (20%), and construction management (7%)). 2. Box Elder Creek Under WCR 49 (4 Lane Strategic Arterial} Due to median condition and no nearby intersections, assume twin Bridges with 2 lanes plus 6' walk/pedestrian refuge for each direction. Total edge-to-edge bridge width (each structure) assumed to be 36+/-. Span length is assumed to be 346' (60° stream crossing) Total structure deck area (both bridges): 346' x 36',x 2 structures =24,900 SF Structures only cost: = 24,900 SF x $90/SF = $2,241,000 Channel transition grading, spur dikes, erosion projection, revegetation, guardrails, and 5' average fill for the roadway for%miles north of the bridge. $ 354,000 Subtotal $2,595,000 Concept-Stage Estimated Total: $3,815,000 (including construction contingency (20%), design, staking, and testing (20%), and construction management (7%)). 7r CD 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 p Co 000000000 Oof Om OOj .1 ON vr O N o OV � Nin coo to co W aDCOOr0Q) N 6, 6,49a c&t NfA 6,al6N9 fR6,6, 74. 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Z r O Q < N N N Q N N N p z y vt O U d 5i yr O Y C4 a 00 n - W m— — Z o 0 O a a - a c h. a qy - EXHIBIT D Financial Plans for Pioneer Regional Metropolitan District and Pioneer Metropolitan District Nos. I through 6 (00054184.DOC v.14) SS e e e c E a el � I- F- 7 w C O y IX; Co CLL t t r r r Wee o• w . z .O N W o it O LL a E co � CO C) : m 7 v) v' 0 • w CO 4 3 K N t0 id co LL co o 0 0 O+ 0 O CO C L m LL -0 d O N ) O 0 ) 0) .... V 9 A m 5 O 0. O p H W a a 0 0 0 0 0 0 0 0 0 0 0 0 O o 0 0 0 0 0 0 0 0 0 0 0 0 0 m O 0 O O 0 0 000000 0 CI 0 0 0 0 0 0 tN 6666. 66 0 p m 0 0 0 o o 0 04 0 0 0 t- O O to r O O V' O (D (n r O 0 O ~ OD CO CO V CO CO OS n O co. CO N 7— H N c U 0- C4 000000 2000000 O 0 0 0 0 0 0 F 0 0 O O 0 0 0 — it ,. m 000000 (OOOOOOO 0 O m to co 0 o N_ O 0 to V O O C'1 O O in C N V> V CO CD N O O V C N co > ^ V -. 3 ..- O r N C) K Z.c+) CO CM CO N O CI) O co r r u) Q .- O Q en en 0 a ~ It 3 O Q0 0 0 0 0 0 0 000000 O Cr" d w . Y o.o. N N 'L ll 0 r 6.d J 8. z C Z Z O- 2 v 3 ii re w y o O O O O O re 0 0 0 0 0 0 o O 0 0 0 O O CD O o 0 o O 0 2 0 0 0 0 0 0 w o O O 0 0 O O LL CO N O O N O 0 CO o N N O O a r V (O N W V 2 0 0 0 in cn co N Cl coO CO n a in O CO N N CO CO MI O M CD 7 co o) o) co a n C• N. O N CD CV) '0 CO CO CO CO N r CO r I- N a 0 0 0 0 0 0 0 0 0 0 0 0 O C o O O O 0 O O o 0 0 0 0 O 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 O O O N O O O to O O 0 0 0 0 CJ O N O CJ CJ N- O O .... Q N O O CD MD t-- 0 0 O L. co MMvo � c(i (. r� ro (D CO 6 0. '�' co r CO NO N CO O r o N N N 0 O O O O M O O O O O M 0 N N N N tV p N N N N N p F m m m m m 0 m m m m m 01 3 C m N m m W N 'it m 'E.' `m 'C. U) A CO CO N W N U) N U) O U) O ¶4 Statement of Significant Assumptions Pioneer Regional Metropolitan District Prepared by Kirkpatrick Pettis 1. Regional District: This Regional District will issue revenue bonds to fund the regional services of the Pioneer Districts #1-6 supported by the mill levy and fees collected from the residents and homebuilders within those Districts. 2. Development Projections: The single-family residential development schedule includes 9,500 single-family units and 500 multi-family units within Districts #1-6. These two categories have assumed market values of $225,000/unit, and $130,000/unit. These market values are inflated at 3%/year through buildout to reflect the Weld County policy maximum. The single-family residential absorption begins with the first completed home in 2008 and continues through 2026. The multi-family units will be completed in 2027. 3. Assessed Valuation: Districts #1-6 assessed value is shown in the year of tax collection, which lags 2 years from the year of construction. The assessed value for commercial property is 29% of the market value and the assessed value for residential property is 7.96% of the market value, which is the residential assessment ratio effective next year as determined in accordance with the Gallagher Amendment. At buildout, collected in 2028, the District's expected assessed value will be $296.4 million. This plan also assumes biennial reassessment of 6% after buildout to reflect the Weld County policy maximum. — 4. District Revenues: The Regional District expects to receive a transfer of mill levies from Districts #1-6 of 8 mills for debt service and 2 mills for operations in accordance with an Intergovernmental Agreement. The Regional District will collect sewer tap fees of $500/SFD unit and $333/MFD unit. The Regional District also expects to collect water tap fees of $1,000/SFD unit and $667/MFD unit. The transfer of specific ownership tax revenue has been estimated at 10% of the property taxes collected. 5. District Operations: Regional The Regional District's operations and maintenance costs are set at 2 mills equivalent per year and grow to$546,281 per year by 2026. 6. Debt Structure: This plan demonstrates the Regional District's ability to support $38 million in Revenue Bonds supported by an 8 mill Intergovernmental Agreement with five bond issues, raising a total of $36.5 million in proceeds net of issuance costs and capitalized interest. These bond issues will be non-rated with an estimated annual interest rate of 7.0% based on historical averages for similar bond issues. 7. Underwriter's Certification: This is to certify that the firm of Kirkpatrick Pettis, a division of D A Davidson, Fixed Income Capital Markets, is listed in the most recent "Bond Buyer's Municipal Marketplace"as a Dealer/Underwriter, in Denver, Colorado. TRB 1/12/06 S7 ° 0 0 0 0 OO 8 0 0OO °' 'a^ E E r COO y < m - e o a E0 vn, 0 8 8 0 8 0 8 a 5 ^ _ n n n e e m m Ar m - — — - — — — —u' W ra. 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'7/ SOURCES AND USES OF FUNDS PIONEER METROPOLITAN DISTRICTS#1-6 SERIES 2008 G.O.BONDS Non-Rated,30-Year Maturity Service Plan Version Dated Date 12/01/2008 Delivery Date 12/01/2008 Sources: Bond Proceeds: Par Amount 37,500,000.00 37,500,000.00 Uses: Project Fund Deposits: Construction Fund 36,375,000.00 Delivery Date Expenses: Global COI 1,125,000.00 37,500,000.00 Jan 3,2006 3:41 pm Prepared by Kirkpatrick Pettis Quantitative Group-EL (Pioneer MD 0S:CSEP3005-M0BSP40C) Page 1 - BOND DEBT SERVICE PIONEER METROPOLITAN DISTRICTS#1-6 SERIES 2008 G.O.BONDS Non-Rated,30-Year Maturity Service Plan Version Annual Period Debt Ending Principal Coupon Interest Debt Service Service 12/01/2008 06/01/2009 1,406,250.00 1,406,250.00 — 12/01/2009 735,000 7.500% 1,406,250.00 2,141,250.00 3,547,500 06/01/2010 1,378,687.50 1,378,687.50 12/01/2010 1,085,000 7.500% 1,378,687.50 2,463,687.50 3,842,375 06/01/2011 1,338,000.00 1,338,000.00 12/01/2011 1,600,000 7.500% 1,338,000.00 2,938,000.00 4.276,000 — 06/01/2012 1,278,000.00 1,278,000.00 12/01/2012 2,175,000 7.500% 1,278,000.00 3,453,000.00 4,731,000 06/01/2013 1,196,437.50 1,196,437.50 12/01/2013 1,196,437.50 1,196,437.50 2,392,875 06/01/2014 1,196,437.50 1,196,437.50 12/01/2014 1,196,437.50 1,196,437.50 2,392,875 06/01/2015 1,196,437.50 1,196,437.50 12/01/2015 1,196,437.50 1,196,437.50 2,392,875 06/01/2016 1,196,437.50 1,196,437.50 12/01/2016 1,196,437.50 1,196,437.50 2,392,875 - 06/01/2017 1,196,437.50 1,196,437.50 12/01/2017 1,196,437.50 1,196,437,50 2,392,875 06/01/2018 1,196,437.50 1,196,437.50 12/01/2018 75,000 7.500% 1,196,437.50 1,271,437.50 2,467,875 06/01/2019 1,193,625.00 1,193,625.00 - 12/01/2019 80,000 7.500% 1,193,625.00 1,273,625.00 2,467,250 06/01/2020 1,190,625.00 1,190,625.00 12/01/2020 230,000 7.500% 1,190,625.00 1,420,625.00 2,611,250 06/01/2021 1,182,000.00 1,182,000.00 12/01/2021 250,000 7.500% 1,182,000.00 1,432,000.00 2,614.000 - 06/01/2022 1,172,625.00 1,172,625.00 ^ 12/01/2022 425.000 7.500% 1,172,625.00 1,597,625.00 2,770,250 06/01/2023 1,156,687.50 1,156,687.50 12/01/2023 455,000 7.500% 1,156,687.50 1,611,687.50 2,768,375 06/01/2024 1,139,625.00 1,139,625.00 12/01/2024 655,000 7.500% 1,139,625.00 1,794,625.00 2,934,250 06/01/2025 1,115,062.50 1,115,062.50 12/01/2025 705,000 7.500% 1,115,062.50 1,820,062.50 2,935,125 06/01/2026 1,088,625.00 1,088,625.00 12/01/2026 935,000 7.500% 1,088,625.00 2,023,625.00 3,112,250 06/01/2027 1,053,562.50 1,053,562.50 - 12/01/2027 1,005,000 7.500% 1,053,562.50 2,058,562.50 3,112,125 06/01/2028 1,015,875.00 1,015,875.00 12/01/2028 1,265,000 7.500% 1,015,875,00 2,280,875.00 3,296,750 06/01/2029 968,437.50 968,437.50 12/01/2029 1,360,000 7.500% 968,437.50 2,328,437,50 3,296,875 06/01/2030 917,437.50 917,437.50 12/01/2030 1,660,000 7.500% 917,437.50 2,577,437.50 3,494,875 06/01/2031 855,187.50 855,187.50 12/01/2031 1,785,000 7.500% 855,187.50 2,640,187.50 3,495,375 06/01/2032 788,250.00 788,250.00 - 12/01/2032 2,130,000 7.500% 788,250.00 2,918,250,00 3,706,500 06/01/2033 708,375.00 708,375.00 12/01/2033 2,290,000 7.500% 708,375.00 2,998,375.00 3,706,750 06/01/2034 622,500.00 622,500.00 12/01/2034 2,685,000 7.500% 622,500.00 3,307,500.00 3,930,000 - 06/01/2035 521,812.50 521,812.50 12/01/2035 2,885,000 7.500% 521,812.50 3,406,812.50 3.928.625 06/01/2036 413,625.00 413,625.00 12/01/2036 3,335,000 7.500% 413,625.00 3,748,625.00 4,162,250 06/01/2037 288,562.50 288,562.50 12/01/2037 3,590,000 7.500% 288,562.50 3,878,562.50 4,167,125 — 06/01/2038 153,937.50 153,937.50 12/01/2038 4,105,000 7.500% 153,937.50 4,258,937.50 4,412,875 37,500,000 60,252,000.00 97,752,000.00 97,752,000 Jan 3,2006 3:41 pm Prepared by Kirkpatrick Pettis Quantitative Group-EL (Pioneer MD 05:CSEP3005-M08SP40C) Page 2 93 SOURCES AND USES OF FUNDS PIONEER METROPOLITAN DISTRICTS#1-6 SERIES 2012 G.O.BONDS Non-Rated,30-Year Maturity Service Plan Version '— Dated Date 12/01/2012 Delivery Date 12/01/2012 Sources: Bond Proceeds: Par Amount 35,100,000.00 35,100,000.00 Uses: Project Fund Deposits: Construction Fund 34,047,000.00 Delivery Date Expenses: Global COI 1,053,000.00 35,100,000.00 Jan 3,2006 3:43 pm Prepared by Kirkpatrick Pettis Quantitative Group-EL (Pioneer MD 05:CSEP3005-M12SP40C) Page 1 BOND DEBT SERVICE a PIONEER METROPOLITAN DISTRICTS#1.6 SERIES 2012 G.O.BONDS Non-Rated,30-Year Maturity Service Plan Version — Period Annual Debt Ending Principal Coupon Interest Debt Service Service 12/0112012 06/01/2013 1,316,250.00 1,316,250.00 72/01/2013 200,000 7.500% 1,316,250.00 1,516,250.00 2,832,500 06/01/2014 1,308,750.00 1,308,750.00 12/01/2014 300,000 7.500% 1,308,750.00 1,608,750.00 2,917,500 06/01/2015 1,297,500.00 1,297,500.00 12/01/2015 1,297,500.00 1,297,500.00 2,595,000 — 06/01/2016 1,297,500.00 1,297,500.00 12/01/2016 1,297,500.00 1,297,500.00 2,595,000 06/01/2017 1,297,500.00 1,297,500.00 12/01/2017 1,297,500.00 1,297,500.00 2,595,000 06/01/2018 1,297,500.00 1,297,500.00 — 12/01/2018 1,297,500.00 1,297,500.00 2,595,000 06/01/2019 1,297,500.00 1,297,500.00 12/01/2019 1,297,500.00 1,297,500.00 2,595,000 06/01/2020 1,297,500.00 1,297,500.00 12/01/2020 1,297,500.00 1,297,500.00 2,595,000 — 06/01/2021 1,297,500.00 1,297,500.00 12/01/2021 1,297,500.00 1,297,500.00 2,595,000 06/01/2022 1,297,500.00 1,297,500.00 12/01/2022 1,297,500.00 1,297,500.00 2,595,000 06/01/2023 1,297,500.00 1,297,500.00 12/01/2023 1,297,500.00 1,297,500.00 2,595,000 06/01/2024 1,297,500.00 1,297,500.00 12/01/2024 1,297,500.00 1,297,500.00 2,595,000 06/01/2025 1,297,500.00 1,297,500.00 12/01/2025 1,297,500.00 1,297,500.00 2,595,000 — 06/01/2026 1,297,500.00 1,297,500.00 �-.. 12/01/2026 1,297,500.00 1,297,500.00 2,595,000 06/01/2027 1,297,500.00 1,297,500.00 12/01/2027 1,297,500.00 1,297,500.00 2,595,000 06/01/2028 1,297,500.00 1,297,500.00 — 12/01/2028 65,000 7.500% 1,297,500.00 1,362,500.00 2,660,000 06/01/2029 1,295,062.50 1,295,062.50 12/01/2029 70,000 7.500% 1,295,062.50 1,365,062.50 2,660,125 06/01/2030 1,292,437.50 1,292,437.50 12/01/2030 235,000 7.500% 1,292,437.50 1,527,437.50 2,819,875 06/01/2031 1,283,625.00 1,283,625.00 — 12/01/2031 255,000 7.500% 1283,625.00 1,538,625.00 2,822,250 06/01/2032 1,274,062.50 1,274,062.50 12/01/2032 440,000 7.500% 1,274,062.50 1,714,062.50 2,988,125 06/01/2033 1,257,562.50 1,257,562.50 12/01/2033 475,000 7.500% 1,257,562.50 1,732,562.50 2,990,125 — 06/01/2034 1,239,750.00 1,239,750.00 12/01/2034 690,000 7.500% 1,239,750.00 1,929,750.00 3,169,500 06/01/2035 1,213,875.00 1,213,875.00 12/01/2035 740,000 7.500% 1213,875.00 1,953,875.00 3,167,750 06/01/2036 1,186,125.00 1,186,125.00 — 12/01/2036 990,000 7.500% 1,186,125.00 2,176,125.00 3,362,250 06/01/2037 1,149,000.00 1,149,000.00 12/01/2037 1,055,000 7.500% 1,149,000.00 2,204,000.00 3,353,000 06/01/2038 1,109,437.50 1,109,437.50 12/01/2038 1,340,000 7.500% 1,109,437.50 2,449,437.50 3,558,875 — 06/01/2039 1,059,187.50 1,059,187.50 12/01/2039 5,855,000 7.500% 1,059,187.50 6,914,187.50 7,973,375 06/01/2040 839,625.00 839,625.00 12/01/2040 6,775,000 7.500% 839,625.00 7,614,625.00 8,454,250 06/01/2041 585,562.50 585,562.50 — 12/01/2041 7,280,000 7.500% 585,562.50 7,865,562.50 8,451,125 06/01/2042 312,562.50 312,562.50 12/01/2042 8,335,000 7.500% 312,562.50 8,647,562.50 8,960125 35,100,000 71,775,750.00 106,875,750.00 106,875,750 Jan 3,2006 3A3 pm Prepared by Kirkpatrick Pettis Quantitative Group-EL (Pioneer MD 05:CSEP3005-M12SP40C) Page 2 Q5J SOURCES AND USES OF FUNDS _ PIONEER METROPOLITAN DISTRICTS#1-6 SERIES 2016 G.O.BONDS Non-Rated,30-Year Maturity Service Plan Version Dated Date 12/01/2016 Delivery Date 12/01/2016 Sources: Bond Proceeds: Par Amount 38,000,000.00 38,000,000.00 Uses: Project Fund Deposits: Construction Fund 36,860,000.00 Delivery Date Expenses: Global COI 1,140,000.00 38,000,000.00 Jan 3,2006 4:46 pm Prepared by Kirkpatrick Pettis Quantitative Group—EL (Pioneer MD 05:CSEP3005-M165P40C) Page 1 96 BOND DEBT SERVICE PIONEER METROPOLITAN DISTRICTS#1-6 SERIES 2016 G.O.BONDS Non-Rated,30-Year Maturity Service Plan Version Annual Period Debt Debt Ending Principal Coupon Interest Service Service 12/01/2016 06/01/2017 1,425,000 1,425,000 12/01/2017 500,000 7.500% 1,425,000 1,925,000 3,350,000 06/01/2018 1,406,250 1,406,250 12/01/2018 600,000 7.500% 1,406,250 2,006,250 3,412,500 06/01/2019 1,383,750 1,383,750 12/01/2019 1,383,750 1,383,750 2,767,500 06/01/2020 1,383,750 1,383,750 12/01/2020 1,383,750 1,383,750 2,767,500 06/01/2021 1,383,750 1,383,750 12/01/2021 1,383,750 1,383,750 2,767,500 _ 06/01/2022 1,383,750 1,383,750 12/01/2022 1,383,750 1,383,750 2,767,500 06/01/2023 1,383,750 1,383,750 12/01/2023 1,383,750 1,383,750 2,767,500 06/01/2024 1,383,750 1,383,750 12/01/2024 1,383,750 1,383,750 2,767,500 06/01/2025 1,383,750 1,383,750 12/01/2025 1,383,750 1,383,750 2,767,500 06/01/2026 1,383,750 1,383,750 12/01/2026 1,383,750 1,383,750 2,767,500 06/01/2027 1,383,750 1,383,750 12/01/2027 1,383,750 1,383,750 2,767,500 06/01/2028 1,383,750 1,383,750 12/01/2028 1,383,750 1,383,750 2,767,500 06/01/2029 1,383,750 1,383,750 12/01/2029 1,383.750 1,383,750 2,767,500 06/01/2030 1,383,750 1,383,750 12/01/2030 1,383,750 1,383,750 2,767,500 06/01/2031 1,383,750 1,383,750 12/01/2031 1,383,750 1,383,750 2,767,500 06/01/2032 1,383,750 1,383,750 12/01/2032 1,383,750 1,383,750 2,767,500 06/01/2033 1,383,750 1,383,750 12/01/2033 1,383,750 1,383,750 2,767,500 06/01/2034 1,383,750 1,383,750 12/01/2034 1,383,750 1,383,750 2,767,500 06/01/2035 1,383,750 1,383,750 12/01/2035 1,383,750 1,383,750 2,767,500 06/01/2036 1,383,750 1,383,750 12/01/2036 1,383,750 1,383,750 2,767.500 06/01/2037 1,383,750 1,383,750 12/01/2037 1,383,750 1,383,750 2,767,500 06/01/2038 1,383,750 1,383,750 12/01/2038 1,383,750 1,383,750 2,767,500 06/01/2039 1,383,750 1,383,750 12/01/2039 1,383,750 1,383,750 2,767,500 06/01/2040 1,383,750 1,383,750 12/01/2040 1,383,750 1,383,750 2,767,500 06/01/2041 1,383,750 1,383.750 12/01/2041 1,383,750 1,383,750 2,767,500 06/01/2042 1,383,750 1,383,750 12/01/2042 1,383,750 1,383,750 2,767,500 06/01/2043 1,383.750 1,383,750 12/01/2043 7,650,000 7.500% 1,383,750 9,033,750 10,417,500 06/01/2044 1,096,875 1,096,875 12/01/2044 8,850,000 7.500% 1,096,875 9,946,875 11,043,750 06/01/2045 765,000 765,000 12/01/2045 9,510,000 7.500% 765,000 10,275,000 11,040,000 06/01/2046 408,375 408,375 12/01/2046 10,890,000 7.500% 408,375 11,298,375 11,706,750 38,000,000 79,390,500 117,390,500 117,390,500 Jan 3,2006 4:46 pm Prepared by Kirkpatrick Penis Quantitative Group—EL (Pioneer MD 05:CSEP3005-M16SP40C) Page 2 97 SOURCES AND USES OF FUNDS PIONEER METROPOLITAN DISTRICTS#1-6 SERIES 2020 G.O.BONDS Non-Rated,2048 Final Maturity Service Plan Version — Dated Date 12/01/2020 Delivery Date 12/01/2020 Sources: Bond Proceeds: Par Amount 41,000,000.00 41,000,000.00 Uses: Project Fund Deposits: Construction Fund 39,770,000.00 Delivery Date Expenses: Global COI 1,230,000.00 41,000,000.00 Jan 3,2006 4:47 pm Prepared by Kirkpatrick Pettis Quantitative Group-EL (Pioneer MD 05:CSEP3005-M20SP40C) Page 1 BOND DEBT SERVICE PIONEER METROPOLITAN DISTRICTS#1-6 SERIES 2020 G.O.BONDS Non-Rated,2048 Final Maturity Service Plan Version - Annual Period Debt Ending Principal Coupon Interest Debt Service Service 12/01/2020 06/01/2021 1,537,500.00 1,537,500.00 12/01/2021 1,537,500.00 1,537,500.00 3,075,000 06/01/2022 1,537,500.00 1,537,500.00 12/01/2022 1,537,500.00 1,537,500.00 3,075,000 - 06/01/2023 1,537,500.00 1,537,500.00 12/01/2023 1,537,500.00 1,537,500.00 3,075,000 06/01/2024 1,537,500.00 1,537,500.00 12/01/2024 1,537,500.00 1,537,500.00 3,075,000 06/01/2025 1,537,500.00 1,537,500.00 12/01/2025 1,537,500.00 1,537,500.00 3,075,000 06/01/2026 1,537,500.00 1,537,500.00 12/01/2026 1,537,500.00 1,537,500.00 3,075,000 06/01/2027 1,537,500.00 1,537,500.00 - 12/01/2027 1,537,500.00 1,537,500.00 3,075,000 06/01/2028 1,537,500.00 1,537,500.00 12/01/2028 1,537,500.00 1,537,500.00 3,075,000 06/01/2029 1,537,500.00 1,537,500.00 - 12/01/2029 1,537,500.00 1,537,500.00 3,075,000 06/01/2030 1,537,500.00 1,537,500.00 12/01/2030 1,537,500.00 1,537,500.00 3,075,000 06/01/2031 1,537,500.00 1,537,500.00 12/01/2031 1,537,500.00 1,537,500.00 3,075,000 - - . 06/01/2032 1,537,500.00 1,537,500.00 12/01/2032 1,537,500.00 1,537,500.00 3,075,000 06/01/2033 1,537,500.00 1,537,500.00 12/01/2033 1,537,500.00 1,537,500.00 3,075,000 06/01/2034 1,537,500.00 1,537,500.00 12/01/2034 1,537,500.00 1,537,500.00 3,075,000 06/01/2035 1,537,500.00 1,537,500.00 12/01/2035 1,537,500.00 1,537,500.00 3,075,000 06/01/2036 1,537,500.00 1,537,500.00 - 12/01/2036 1,537,500.00 1,537,500.00 3,075,000 06/01/2037 1,537,500.00 1,537,500.00 12/01/2037 1,537,500.00 1,537,500.00 3,075,000 06/01/2038 1,537,500.00 1,537,500.00 12/01/2038 1,537,500.00 1,537,500.00 3,075,000 -- 06/01/2039 1,537,500.00 1,537,500.00 12/01/2039 1,537,500.00 1,537,500.00 3,075,000 06/01/2040 1,537,500.00 1,537,500.00 12/01/2040 35,000 7.500% 1,537,500.00 1,572,500.00 3,110,000 - 06/01/2041 1,536,187.50 1,536,187.50 12/01/2041 40,000 7.500% 1,536,187.50 1,576,187.50 3,112,375 06/01/2042 1,534,687.50 1,534,687.50 12/01/2042 395,000 7.500% 1,534,687.50 1,929,687.50 3,464,375 06/01/2043 1,519,875.00 1,519,875.00 - 12/01/2043 1,735,000 7.500% 1,519,875.00 3,254,875.00 4,774,750 06/01/2044 1,454,812.50 1,454,812.50 12/01/2044 2,150,000 7.500% 1,454,812.50 3,604,812.50 5,059,625 06/01/2045 1,374,187.50 1,374,187.50 _, 12/01/2045 2,315,000 7.500% 1,374,187.50 3,689,187.50 5,063,375 06/01/2046 1,287,375.00 1,287,375.00 12/01/2046 2,790,000 7.500% 1,287,375.00 4,077,375.00 5,364,750 06/01/2047 1,182,750.00 1,182,750.00 12/01/2047 14,705,000 7.500% 1,182,750.00 15,887,750.00 17,070,500 - 06/01/2048 631,312.50 631,312.50 12/01/2048 16,835,000 7.500% 631,312.50 17,466,312.50 18,097,625 41,000,000 82,542,375.00 123,542,375.00 123,542,375 Jan 3,2006 4:47 pm Prepared by Kirkpatrick Pettis Quantitative Group-EL (Pioneer MD 05:CSEP3005-M20SP40C) Page 2 '79 SOURCES AND USES OF FUNDS PIONEER METROPOLITAN DISTRICTS#1-6 SERIES 2024 G.O.BONDS Non-Rated,2048 Final Maturity Service Plan Version • Dated Date 12/01/2024 Delivery Date 12/01/2024 Sources: Bond Proceeds: Par Amount 30,400,000.00 30,400,000.00 Uses: Project Fund Deposits: Construction Fund 29,488,000.00 Delivery Date Expenses: Global COI 912,000.00 30,400,000.00 Jan 3,2006 4:48 pm Prepared by Kirkpatrick Pettis Quantitative Group—EL (Pioneer MD 05:CSEP3005-M24SP40C) Page 1 BOND DEBT SERVICE PIONEER METROPOLITAN DISTRICTS#1-6 SERIES 2024 G.O.BONDS Non-Rated,2048 Final Maturity Service Plan Version Annual Period Debt Ending Principal Coupon Interest Debt Service Service 12/01/2024 06/01/2025 1,140,000.00 1,140,000.00 12/01/2025 1,140,000.00 1,140,000.00 2,280,000 06/01/2026 1,140,000.00 1,140,000.00 12/01/2026 1,140,000.00 1,140,000.00 2,280,000 06/01/2027 1,140,000.00 1,140,000.00 12/01/2027 1,140,000.00 1,140,000.00 2,280,000 06/01/2028 1,140,000.00 1,140,000.00 12/01/2028 1,140,000.00 1,140,000.00 2,280,000 06/01/2029 1,140,000.00 1,140,000.00 12/01/2029 1,140,000.00 1,140,000.00 2,280,000 06/01/2030 1,140,000.00 1,140,000.00 12/01/2030 1,140,000.00 1,140,000.00 2,280,000 06/01/2031 1,140,000.00 1,140,000.00 12/01/2031 1,140,000.00 1,140,000.00 2,280,000 06/01/2032 1,140,000.00 1,140,000.00 12/01/2032 1,140,000.00 1,140,000.00 2,280,000 06/01/2033 1,140,000.00 1,140,000.00 12/01/2033 1,140,000.00 1,140,000.00 2,280,000 06/01/2034 1,140,000.00 1,140,000.00 12/01/2034 35,000 7.500% 1,140,000.00 1,175,000.00 2,315,000 06/01/2035 1,138,687.50 1,138,687.50 12/01/2035 40,000 7.500% 1,138,687.50 1,178,687.50 2,317,375 - 06/01/2036 1,137,187.50 1,137,187.50 12/01/2036 530,000 7.500% 1,137,187.50 1,667,187.50 2,804,375 06/01/2037 1,117,312.50 1,117,312.50 12/01/2037 575,000 7.500% 1,117,312.50 1,692,312.50 2,809,625 06/01/2038 1,095,750.00 1,095,750.00 -' 12/01/2038 1,135,000 7.500% 1,095,750.00 2,230,750.00 3,326,500 06/01/2039 1,053,187.50 1,053,187.50 12/01/2039 1,220,000 7.500% 1,053,187.50 2,273,187.50 3,326,375 06/01/2040 1,007,437.50 1,007,437.50 12/01/2040 1,825,000 7.500% 1,007,437.50 2,832,437.50 3,839,875 06/01/2041 939,000.00 939,000.00 12/01/2041 1,960,000 7.500% 939,000.00 2,899,000.00 3,838,000 06/01/2042 865,500.00 865,500.00 12/01/2042 2,340,000 7.500% 865,500.00 3,205,500.00 4,071,000 06/01/2043 777,750.00 777,750.00 12/01/2043 2,515,000 7.500% 777,750.00 3,292,750.00 4,070,500 06/01/2044 683,437.50 683,437.50 12/01/2044 2,945,000 7.500% 683,437.50 3,628,437.50 4,311,875 06/01/2045 573,000.00 573,000.00 12/01/2045 3,170,000 7.500% 573,000.00 3,743,000.00 4,316,000 06/01/2046 454,125.00 454,125.00 12/01/2046 3,665,000 7.500% 454,125.00 4,119,125.00 4,573,250 06/01/2047 316,687.50 316,687.50 12/01/2047 3,940,000 7.500% 316,687.50 4,256,687.50 4,573,375 06/01/2048 168,937.50 168,937.50 12/01/2048 4,505,000 7.500% 168,937.50 4,673,937.50 4,842,875 30,400,000 45,456,000.00 75,856,000.00 75,856,000 Jan 3,2006 4:48 pm Prepared by Kirkpatrick Pettis Quantitative Group-EL (Pioneer MD 05:CSEP3005-M24SP40C) Page 2 /O/ Statement of Significant Assumptions Pioneer Metropolitan Districts# 1-6 Prepared by Kirkpatrick Pettis 1. Financing Districts: Districts #1-6 boundaries will be established as growth occurs for Financing Districts to issue debt, provide operations/maintenance and levy a tax for transfer to the Regional District. This financing plan demonstrates the feasibility of the combined Districts#1-6. 2. Development Projections: The single-family residential development schedule includes 9,500 single-family units and 500 multi-family units. These two categories have assumed market values of$225,000/unit, and $130,000/unit. These market values are inflated at 3%/year through buildout to reflect the Weld County policy maximum. The single- _ family residential absorption begins with the first completed home in 2008 and continues through 2026. The multi-family units will be completed in 2027. — 3. Assessed Valuation: The Districts' assessed value is shown in the year of tax collection, which lags 2 years from the year of construction. The assessed value for residential property is 7.96% of the market value, which is the residential assessment ratio effective next year as determined in accordance with the Gallagher Amendment. At buildout, collected in 2028, the Districts' expected assessed value will be $296.4 million. This plan also assumes biennial reassessment of 6% after buildout to reflect the Weld County policy maximum. 4. District Revenues: The Districts expect to levy 40 mills for debt service and an operating mill levy of 10 mills. The Districts expect to collect cumulative fees of $5,000/SFD unit to include storm sewer, traffic and parks fees, $3,333/MFD unit and facility fees of$1,500/SFD unit, $1,000/MFD unit. The Districts will also collect interest _ income on the cumulative surplus estimated at 3%. The specific ownership tax revenue has been estimated at 10%of the property taxes collected. The Districts will additionally levy up to ten mills for regional services that will be transferred by an Intergovernmental Agreement to the Pioneer Regional Metro District. 5. District Operations: $300,000 inflated at 3% per year is allocated for the Districts' administrative costs. The Districts' operations and maintenance costs grow to $1.5 — million per year by 2026. Developer advances initially cover the Districts' operating costs until the Districts begin collecting sufficient revenues. 6. Debt Structure: This plan demonstrates the Districts' ability to support $182 million in General Obligation debt in five bond issues, raising a total of$176.5 million in proceeds net of issuance costs and capitalized interest. These bond issues will be non-rated with an estimated annual interest rate of 7.5% based on historical avenges for similar bond issues. 7. 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N n I ! `s o 8888 ggggggggggggggg0000 § rc a Ci m o a y t $U g NEVI nravn a a0vrc0iaV na0vlIFAII `, I SOURCES AND USES OF FUNDS PIONEER METROPOLITAN DISTRICTS#1-6 SERIES 2008 G.O.BONDS Non-Rated,30-Year Maturity Service Plan Version Dated Date 12/01/2008 Delivery Date 12/01/2008 Sources: Bond Proceeds: Par Amount 37,500,000.00 37,500,000.00 Uses: '— Project Fund Deposits: Construction Fund 36,375,000.00 Delivery Date Expenses: Global COI 1,125,000.00 37,500,000.00 Jan 3,2006 3:41 pm Prepared by Kirkpatrick Pettis Quantitative Group-EL (Pioneer MD O5:CSEP3005-M08SPIOC) Page 1 /07 BOND DEBT SERVICE PIONEER METROPOLITAN DISTRICTS#1-6 SERIES 2008 G.O.BONDS Non-Rated,30-Year Maturity Service Plan Version Annual Period Debt Ending Principal Coupon Interest Debt Service Service 12/01/2008 — 06/01/2009 1,406,250.00 1,406,250.00 12/01/2009 735,000 7.500% 1,406,250.00 2,141,250.00 3,547,500 06/01/2010 1,378,687.50 1,378,687.50 12/01/2010 1,085,000 7.500% 1,378,687.50 2,463,687.50 3,842,375 06/01/2011 1,338,000.00 1,338,000.00 12/01/2011 1,600,000 7.500% 1,338,000.00 2,938,000.00 4,276,000 - 06/01/2012 1,278,000.00 1,278,000.00 12/012012 2,175,000 7.500% 1,278,000.00 3,453,000.00 4,731,000 06/01/2013 1,196,437.50 1,196,437.50 12/01/2013 1,196,437.50 1,196,437.50 2,392,875 06/01/2014 1,196,437.50 1,196,437.50 - 12/01/2014 1,196,437.50 1,196,437.50 2,392,875 06/01/2015 1,196,437.50 1,196,437.50 12/01/2015 1,196,437.50 1,196,437.50 2,392,875 06/01/2016 1,196,437.50 1,196,437.50 12/012016 1,196,437.50 1,196,437.50 2,392,875 - 06/01/2017 1,196,437.50 1,196,437.50 12/01/2017 1,196,437.50 1,196,437.50 2,392,875 06/01/2018 1,196,437.50 1,196,437.50 12/01/2018 75,000 7.500% 1,196,437.50 1,271,437.50 2,467,875 06/01/2019 1,193,625.00 1,193,625.00 -- 12/01/2019 80,000 7.500% 1,193,625.00 1,273,625.00 2,467,250 06/01/2020 1,190,625.00 1,190,625.00 12/012020 230,000 7.500% 1,190,625.00 1,420,625.00 2,611,250 06/01/2021 1,182,000.00 1,182,000.00 12/01/2021 250,000 7.500% 1,182,000.00 1,432,000.00 2,614,000 - ^ 06/01/2022 1,172,625.00 1,172,625.00 12/01/2022 425,000 7.500% 1,172,625.00 1,597,625.00 2.770,250 06/01/2023 1,156,687.50 1,156,687.50 12/01/2023 455,000 7.500% 1,156,687.50 1,611,687.50 2,768,375 06/01/2024 1,139,625.00 1,139,625.00 - 12/012024 655,000 7.500% 1,139,625.00 1,794,625.00 2,934,250 06/01/2025 1,115,062.50 1,115,062.50 12/01/2025 705,000 7.500% 1,115,062.50 1,820,062,50 2,935,125 06/01/2026 1,088,625.00 1,088,625.00 12/01/2026 935,000 7.500% 1,088,625.00 2,023,625.00 3,112,250 - 06/01/2027 1,053,562.50 1,053,562.50 12/01/2027 1,005,000 7.500% 1,053,562.50 2,058,562.50 3,112,125 06/01/2028 1,015,875.00 1,015,875.00 12/01/2028 1,265,000 7.500% 1,015,875.00 2,280,875.00 3,296,750 06/01/2029 968,437.50 968,437.50 12/01/2029 1,360,000 7.500% 968,437.50 2,328,437.50 3,296,875 - 06/01/2030 917,437.50 917,437.50 12/01/2030 1,660,000 7.500% 917,437.50 2,577,437.50 3,494,875 06/01/2031 855,187.50 855,187.50 12/01/2031 1,785,000 7.500% 855,187.50 2,640,187.50 3,495,375 06/01/2032 788.250.00 788,250.00 - 12/01/2032 2,130,000 7.500% 788,250.00 2,918,250.00 3,706,500 06/01/2033 708,375.00 708,375.00 12/01/2033 2,290,000 7.500% 708,375.00 2,998,375.00 3,706,750 06/01/2034 622,500.00 622,500.00 12/01/2034 2,685,000 7.500% 622,500.00 3,307,500.00 3,930,000 ,.- 06/01/2035 521,812.50 521,812.50 12/01/2035 2,885,000 7.500% 521,812.50 3,406,812.50 3,928,625 06/01/2036 413,625.00 413,625.00 12/01/2036 3,335,000 7.500% 413,625.00 3,748,625.00 4,162,250 06/01/2037 288,562.50 288,562.50 - 12/01/2037 3,590,000 7.500% 288.562.50 3,878,562.50 4,167,125 06/01/2038 153,937.50 153,937.50 12/01/2038 4,105,000 7.500% 153,937.50 4,258,937.50 4,412,875 37,500,000 60,252,000.00 97,752,000.00 97,752,000 Jan 3,2006 3:41 pm Prepared by Kirkpatrick Penis Quantitative Group-EL (Pioneer MD 05:CSEP3005-M08SP40C) Page 2 /CI SOURCES AND USES OF FUNDS PIONEER METROPOLITAN DISTRICTS#1-6 SERIES 2012 G.O.BONDS Non-Rated,30-Year Maturity Service Plan Version Dated Date 12/01/2012 Delivery Date 12/01/2012 Sources: Bond Proceeds: Par Amount 35,100,000.00 -'- 35,100,000.00 Uses: Project Fund Deposits: Construction Fund 34,047,000.00 Delivery Date Expenses: Global COI 1,053,000.00 35,100,000.00 Jan 3,2006 3:43 pm Prepared by Kirkpatrick Penis Quantitative Group-EL (Pioneer MD 05:CSEP3005-M12SP40C) Page 1 /o9 BOND DEBT SERVICE PIONEER METROPOLITAN DISTRICTS#1-6 SERIES 2012 G.O.BONDS Non-Rated,30-Year Maturity Service Plan Version — Annual Period Debt Ending Principal Coupon interest Debt Service Service 12/01/2012 06/01/2013 1,316,250.00 1,316,250.00 — 12/01/2013 200,000 7.500% 1,316,250.00 1,516,250.00 2,832,500 06/01/2014 1,308,750.00 1,308,750.00 12/01/2014 300,000 7.500% 1,308,750.00 1,608,750.00 2,917,500 06/01/2015 1,297,500.00 1,297,500.00 12/01/2015 1,297,500.00 1,297,500.00 2,595,000 -- 06/01/2016 1,297,500.00 1,297,500.00 12/01/2016 1,297,500.00 1,297,500.00 2,595,000 06/01/2017 1,297,500.00 1,297,500.00 12/01/2017 1,297,500.00 1,297,500.00 2,595,000 06/01/2018 1,297,500.00 1,297,500.00 - 12/01/2018 1,297500.00 1,297,500.00 2,595,000 06/01/2019 1,297,500.00 1,297,500.00 12/01/2019 1,297,500.00 1,297,500.00 2,595,000 06/01/2020 1,297,500.00 1,297,500.00 12/01/2020 1,297,500.00 1,297,500.00 2,595,000 - 06/01/2021 1,297,500.00 1,297,500.00 12/01/2021 1,297,500.00 1,297,500.00 2,595,000 06/01/2022 1,297,500.00 1,297,500.00 12/01/2022 1,297,500.00 1,297,500.00 2,595,000 06/01/2023 1,297,500.00 1,297,500.00 12/01/2023 1,297,500.00 1,297,500.00 2,595,000 06/01/2024 1,297,500.00 1,297,500.00 12/01/2024 1,297,500.00 1,297,500.00 2,595,000 06/01/2025 1,297,500.00 1,297,500.00 12/01/2025 1,297,500.00 1,297,500.00 2,595,000 - 06/01/2026 7,297,500.00 1,297,500.00 12/01/2026 1,297,500.00 1,297,500.00 2,595,000 06/01/2027 1,297,500.00 1,297,500.00 12/01/2027 1,297,500.00 1,297,500.00 2,595.000 06/01/2028 1,297,500.00 1,297,500.00 - 12/01/2028 65,000 7.500% 1,297,500.00 1,362,500.00 2,660,000 06/01/2029 1,295,062.50 1,295,062.50 12/01/2029 70,000 7.500% 1,295,062.50 1,365,062.50 2,660,125 06/01/2030 1,292,437.50 1,292,437.50 12/01/2030 235,000 7.500% 1,292,437.50 1,527,437.50 2,819,875 06/01/2031 1,283,625.00 1,283,625.00 - 12/01/2031 255,000 7.500% 1,283,625.00 1,538,625.00 2,822,250 06/01/2032 1,274,062.50 1,274,062.50 12/01/2032 440,000 7.500% 1,274,062.50 1,714,062.50 2,988,125 06/01/2033 1,257,562.50 1,257,562.50 12/01/2033 475,000 7.500% 1,257,562.50 1,732,562.50 2,990,125 - 08/01/2034 1,239,750.00 1,239,750.00 12/01/2034 690,000 7.500% 1,239,750.00 1,929,750.00 3,169.500 06/01/2035 1,213,875.00 1,213,875.00 12/01/2035 740,000 7.500% 1,213,875.00 1,953,875.00 3,167,750 06/01/2036 1,186,125.00 1,186,125.00 - 12/01/2036 990,000 7.500% 1,186,125.00 2,176,125.00 3,362,250 06/01/2037 1,149,000.00 1,149,000.00 12/01/2037 1,055,000 7.500% 1,149,000.00 2,204,000.00 3,353,000 06/01/2038 1,109,437.50 1,109,437.50 12/01/2038 1,340,000 7.500% 1,109,437.50 2,449,437.50 3,558,875 - 06/01/2039 1,059,187.50 1,059,187.50 12/01/2039 5,855,000 7.500% 1,059,187.50 6,914,187.50 7,973,375 06/01/2040 839,625.00 839,625.00 12/01/2040 6,775,000 7.500% 839,625.00 7,614,625.00 8.454,250 06/01/2041 585,562.50 585,562.50 - 12/01/2041 7,280,000 7.500% 585,562.50 7,865,562.50 8,451,725 06/01/2042 312,562.50 312,562.50 12/01/2042 8,335,000 7.500% 312,562.50 8,647,562.50 8,960,125 35,100,000 71,775,750.00 106,875,750.00 106,875,750 Jan 3,2006 3:43 pm Prepared by Kirkpatrick Pettis Quantitative Group-EL (Pioneer MD 05:CSEP3005-M12SP40C) Page 2 /74 SOURCES AND USES OF FUNDS PIONEER METROPOLITAN DISTRICTS#1-6 SERIES 2016 G.O.BONDS Non-Rated,30-Year Maturity Service Plan Version Dated Date 12/01/2016 Delivery Date 12/01/2016 Sources: Bond Proceeds: Par Amount 38,000,000.00 38,000,000.00 Uses: Project Fund Deposits: Construction Fund 36,860,000.00 Delivery Date Expenses: Global COI 1,140,000.00 38,000,000.00 Jan 3,2006 4:46 pm Prepared by Kirkpatrick Pettis Quantitative Group—EL (Pioneer MD 05:CSEP3005.M16SP40C) Page 1 1) BOND DEBT SERVICE PIONEER METROPOLITAN DISTRICTS#14 - SERIES 2016 G.O.BONDS Non-Rated,30-Year Maturity Service Plan Version Annual Period Debt Debt Ending Principal Coupon Interest Service Service 12/01/2016 06/01/2017 1,425,000 1,425,000 - 12/01/2017 500,000 7.500% 1,425,000 1,925,000 3,350,000 06/01/2018 1,406,250 1,406,250 12/01/2018 600,000 7.500% 1,406,250 2,006,250 3,412,500 06/01/2019 1,383,750 1,383,750 12/01/2019 1,383,750 1,383,750 2,767,500 - 06/01/2020 1,383,750 1,383,750 12/01/2020 1,383,750 1,383,750 2,767,500 06/01/2021 1,383,750 1,383,750 12/01f2021 1,383,750 1,383,750 2,767,500 06/01/2022 1,383,750 1,383,750 - 12/01/2022 1,383,750 1,383,750 2,767,500 06/01/2023 1,383,750 1,383,750 12/01/2023 1,383,750 1,383,750 2,767,500 06/01/2024 1,383,750 1,383,750 12/01/2024 1,383,750 1,383,750 2,767,500 - 06/01/2025 1,383,750 1,383,750 12/01/2025 1,383,750 1,383,750 2,767,500 06/01/2026 1,383,750 1,383,750 12/01/2026 1,383,750 1,383,750 2,767,500 06/01/2027 1,383.750 1,383,750 _ 12/01/2027 1,383,750 1,383,750 2,767,500 06/01/2028 1,383,750 1,383,750 12/0112028 1,383,750 1,383,750 2,767,500 06/01/2029 1,383,750 1,383,750 12/01/2029 1,383,750 1,383,750 2,767,500 06/01/2030 1,383,750 1,383,750 12/01/2030 1,383,750 1,383,750 2,767,500 06/01/2031 1,383,750 1,383,750 12/01/2031 1,383,750 1,383,750 2,767,500 06/01/2032 1,383,750 1,383,750 12/01/2032 1,383,750 1,383,750 2,767,500 06/01/2033 1,383,750 1,383,750 12/01/2033 1,383,750 1,383,750 2,767,500 06/01/2034 1,383,750 1,383,750 12/01/2034 1,383,750 1,383,750 2,767,500 06/01/2035 1,383,750 1,383,750 - 12/01/2035 1,383,750 1,383,750 2.767,500 06/01/2036 1,383,750 1,383,750 12/01/2036 1,383,750 1,383,750 2,767,500 06/01/2037 1,383,750 1,383,750 12/01/2037 1,383,750 1,383,750 2,767,500 -. 06/01/2038 1,383,750 1,383,750 12/01/2038 1,383,750 1,383,750 2,767,500 06/01/2039 1,383,750 1,383,750 12/01/2039 1,383.750 1,383,750 2,767,500 06/01/2040 1,383,750 1,383,750 - 12/01/2040 1,383,750 1,383,750 2,767,500 06/01/2041 1,383,750 1,383,750 12/01/2041 1,383,750 1,383,750 2,767,500 06/01/2042 1,383,750 1,383,750 12/01/2042 1,383,750 1,383,750 2,767,500 - 06/01/2043 1,383,750 1,383,750 12/01/2043 7,650,000 7.500% 1,383,750 9,033,750 10,417,500 06/01/2044 1,096,875 1,096,875 12/01/2044 8,850,000 7.500% 1,096,875 9,946,875 11,043,750 06/01/2045 765,000 765,000 — 12/01/2045 9,510,000 7.500% 765,000 10,275,000 11,040,000 06/01/2046 408,375 408,375 12/01/2046 10,890,000 7.500% 408,375 11,298,375 11,706,750 38,000,000 79,390,500 117,390,500 117,390,500 Jan 3,2006 4:46 pm Prepared by Kirkpatrick Pettis Quantitative Group-EL (Pioneer MD 05:CSEP3005-M16SP40C) Page 2 I/oo-- SOURCES AND USES OF FUNDS PIONEER METROPOLITAN DISTRICTS#1.6 SERIES 2020 G.O.BONDS Non-Rated,2048 Final Maturity Service Plan Version Dated Date 12/01/2020 Delivery Date 12/01/2020 Sources: Bond Proceeds: Par Amount 41,000,000.00 41,000,000.00 Uses: Project Fund Deposits: Construction Fund 39,770,000.00 Delivery Date Expenses: Global COI 1,230,000.00 41,000,000.00 Jan 3,2006 4:47 pm Prepared by Kirkpatrick Pettis Quantitative Group-EL (Pioneer MD 05:CSEP3005-M20SP40C) Page 1 'I3 BOND DEBT SERVICE PIONEER METROPOLITAN DISTRICTS#1-6 - SERIES 2020 G.O.BONDS Non-Rated,2048 Final Maturity Service Plan Version Period Annual Debt Ending Principal Coupon Interest Debt Service Service 12/01/2020 — 06/01/2021 1,537,500.00 1,537,500.00 12/01/2021 1,537,500.00 1,537,500.00 3,075,000 06/01/2022 1,537,500.00 1,537,500.00 12/01/2022 1,537,500.00 1,537,500.00 3,075,000 — 06/01/2023 1,537,500.00 1,537,500.00 12/01/2023 1,537,500.00 1,537,500.00 3,075,000 06/01/2024 1,537,500.00 1,537,500.00 12/01/2024 1,537,500.00 1,537,500.00 3,075,000 — 06/01/2025 1,537,500.00 1,537,500.00 12/01/2025 1,537,500.00 1,537,500.00 3,075,000 06/01/2026 1,537,500.00 1,537,500.00 12/01/2026 1,537,500.00 1,537,500.00 3,075,000 06/01/2027 1,537,500.00 1,537,500.00 — 12/01/2027 1,537,500.00 1,537,500,00 3,075,000 06/01/2028 1,537,500.00 1,537,500.00 12/01/2028 1,537,500.00 1,537,500.00 3,075,000 06/01/2029 1,537,500.00 1,537,500.00 12/01/2029 1,537,500.00 1,537,500.00 3,075,000 06/01/2030 1,537,500.00 1,537,500.00 12/01/2030 1,537,500.00 1,537,500.00 3,075,000 06/01/2031 1,537,500.00 1,537,500.00 12/01/2031 1,537,500.00 1,537,500.00 3,075,000 — 06/01/2032 1,537,500.00 1,537,500.00 12/01/2032 1,537,500.00 1,537,500.00 3,075,000 06/01/2033 1,537,500.00 1,537,500.00 12/01/2033 1,537,500.00 1,537,500.00 3,075,000 06/01/2034 1,537,500.00 1,537,500.00 — 12/01/2034 1,537,500.00 1,537,500.00 3,075,000 06/01/2035 1,537,500.00 1,537,500.00 12/01/2035 1,537,500.00 1,537,500.00 3,075,000 06/01/2036 1,537,500.00 1,537,500.00 — 12/01/2036 1,537,500.00 1,537,500.00 3,075,000 06/01/2037 1,537,500.00 1,537,500.00 12/01/2037 1,537,500.00 1,537,500.00 3,075,000 06/01/2038 1,537,500.00 1,537,500.00 12/01/2038 1,537,500.00 1,537,500.00 3,075,000 06/01/2039 1,537,500.00 1,537,500.00 12/01/2039 1,537,500.00 1,537,500.00 3,075,000 06/01/2040 1,537,500.00 1,537,500.00 12/01/2040 35,000 7.500% 1,537,500.00 1,572,500.00 3,110,000 — 06/01/2041 1,536,187.50 1,536,187.50 12/01/2041 40,000 7.500% 1,536,187.50 1,576,187.50 3,112,375 06/01/2042 1,534,687.50 1,534,687.50 12/01/2042 395,000 7.500% 1,534,687.50 1,929,687.50 3,464,375 06/01/2043 1,519,875.00 1,519,875.00 — 12/01/2043 1,735,000 7.500% 1,519,875.00 3,254,875.00 4,774,750 06/01/2044 1,454,812.50 1,454,812.50 12/01/2044 2,150,000 7.500% 1,454,812.50 3,604,812.50 5,059,625 06/01/2045 1,374,187.50 1,374,187.50 12/01/2045 2,315,000 7.500% 1,374,187.50 3,689,187.50 5,063,375 06/01/2046 1,287,375.00 1,287,375.00 12/01/2046 2,790,000 7.500% 1,287,375.00 4,077,375.00 5,364,750 06/01/2047 1,182,750.00 1,182,750.00 12/01/2047 14,705,000 7.500% 1,182,750.00 15,887,750.00 17,070,500 — 06/01/2048 631,312.50 631,312.50 12/01/2048 16,835,000 7.500% 631,312.50 17,466,312.50 18,097,625 — 41,000,000 82,542,375.00 123,542,375.00 123,542,375 Jan 3,2006 4:47 pm Prepared by Kirkpatrick Penis Quantitative Group-EL (Pioneer MD 05:CSEP3005-M20SP40C) Page 2 E y SOURCES AND USES OF FUNDS PIONEER METROPOLITAN DISTRICTS#1-6 SERIES 2024 G.O.BONDS Non-Rated,2048 Final Maturity Service Plan Version Dated Date 12/01/2024 Delivery Date 12/01/2024 Sources: Bond Proceeds: Par Amount 30,400,000.00 30,400,000.00 Uses: Project Fund Deposits: Construction Fund 29,488,000.00 Delivery Date Expenses: Global COI 912,000.00 30,400,000.00 Jan 3,2006 4:48 pm Prepared by Kirkpatrick Pettis Quantitative Group-EL (Pioneer MD 05:CSEP3005-M24SP40C) Page 1 /(S- BOND DEBT SERVICE PIONEER METROPOLITAN DISTRICTS#1-6 — SERIES 2024 G.O.BONDS Non-Rated,2048 Final Maturity Service Plan Version — Annual Period Debt Ending Principal Coupon Interest Debt Service Service 12/01/2024 — 06/01/2025 1,140,000.00 1,140,000.00 12/01/2025 1,140,000.00 1,140,000.00 2,280,000 06/01/2026 1,140,000.00 1,140,000.00 12/01/2026 1,140,000.00 1,140,000.00 2,280,000 — 06/01/2027 1,140,000.00 1,140,000.00 12/01/2027 1,140,000.00 1,140,000.00 2,280,000 06/01/2028 1,140,000.00 1,140,000.00 12/01/2028 1,140,000.00 1,140,000.00 2,280,000 — 06/01/2029 1,140,000.00 1,140,000.00 12/01/2029 1,140,000.00 1,140,000.00 2,280,000 06/01/2030 1,140,000.00 1,140,000.00 12/01/2030 1,140,000.00 1,140,000.00 2,280,000 06/01/2031 1,140,000.00 1,140,000.00 — 12/01/2031 1,140,000.00 1,140,000.00 2,280,000 06/01/2032 1,140,000.00 1,140,000.00 12/01/2032 1,140,000.00 1,140,000.00 2,280,000 06/01/2033 1,140,000.00 1,140,000.00 12/01/2033 1,140,000.00 1,140,000.00 2,280,000 06/01/2034 1,140,000.00 1,140,000.00 12/01/2034 35,000 7.500% 1,140,000.00 1,175,000.00 2,315,000 06/01/2035 1,138,687.50 1,138,687.50 12/01/2035 40,000 7.500% 1,138,687.50 1,178,687.50 2,317,375 — , 06/01/2036 1,137,187.50 1,137,187.50 12/01/2036 530,000 7.500% 1,137,187.50 1,667,187.50 2,804,375 06/01/2037 1,117,312.50 1,117,312.50 12/01/2037 575,000 7.500% 1,117,312.50 1,692,312.50 2,809,625 06/01/2038 1,095,750.00 1,095,750.00 12/01/2038 1,135,000 7.500% 1,095,750.00 2,230,750.00 3,326,500 06/01/2039 1,053,187.50 1,053,187.50 12/01/2039 1,220,000 7.500% 1,053,187.50 2,273,187.50 3,326,375 06/01/2040 1,007,437.50 1,007,437.50 — 12/01/2040 1,825,000 7.500% 1,007,437.50 2,832,437.50 3,839,875 06/01/2041 939,000.00 939,000.00 12/01/2041 1,960,000 7.500% 939,000.00 2,899,000.00 3,838,000 06/01/2042 865,500.00 865,500.00 12/01/2042 2,340,000 7.500% 865,500.00 3,205,500.00 4,071,000 — 06/01/2043 777,750.00 777,750.00 12/01/2043 2,515,000 7.500% 777,750.00 3,292,750.00 4,070,500 06/01/2044 683,437.50 683,437.50 12/01/2044 2,945,000 7.500% 683,437.50 3,628,437.50 4,311,875 06/01/2045 573,000.00 573,000.00 12/01/2045 3,170,000 7.500% 573,000.00 3,743,000.00 4,316,000 06/01/2046 454,125.00 454,125.00 12/01/2046 3,665,000 7.500% 454,125.00 4,119,125.00 4,573,250 06/01/2047 316,687.50 316,687.50 — 12/01/2047 3,940,000 7.500% 316,687.50 4,256,687.50 4,573,375 06/01/2048 168,937.50 168,937.50 12/01/2048 4,505,000 7.500% 168,937.50 4,673,937.50 4,842,875 — 30,400,000 45,456,000.00 75,856,000.00 75,856,000 Jan 3,2006 4:48 pm Prepared by Kirkpatrick Pettis Quantitative Group-EL (Pioneer MD 05:CSEP3005-M24SP40C) Page 2 'li Page 1 of 2 Carol Harding From: Bruce Barker Sent: Thursday, March 23, 2006 3:43 PM To: Brad Mueller Cc: Carol Harding Subject: RE: Pioneer Service Plans I have already arranged with Jaqueline Murphy of McGeady Sisneros to make the "ensure"change, and will tell her to make the "A-I"change, also. Bruce. From: Brad Mueller Sent: Thursday, March 23, 2006 3:41 PM To: Bruce Barker Cc: Carol Harding Subject: RE: Pioneer Service Plans Bruce, Thanks for your note and call. Your line was busy when I tried, but I think we're all OK. Carol, the applicants need to change the word "contemplate"to"ensure" on Page 17 of the Metro District Plan, and the corresponding page on the District#1 -#6 plans. Also, lettering on Page 30 ("Conclusion") is wrong, probably for all Plan sets; it should be corrected from D - L, to the regular A- I. Otherwise, the sets look fine and satisfy all of the Conditions of Approval. I wasn't sure if this is information you have to convey to the applicants. Otherwise, I would be happy to ask them to make these changes and get the final corrected copies to you. Please let me know how that is normally done. Thank you, Brad From: Bruce Barker Sent: Thursday, March 23, 2006 2:48 PM To: Brad Mueller Subject: RE: Pioneer Service Plans I agree with your word, "ensure." From: Brad Mueller Sent: Thursday, March 23, 2006 2:06 PM To: Bruce Barker Subject: Pioneer Service Plans Bruce, I'm sorry to trouble you with this question, but I just don't have a good enough sense of the Board's tolerance for exactitude on matters like this . . . 3/24/2006 Page 2 of 2 This is the Condition of Approval as indicated in the Minutes: "The Service Plan shall be revised to state that control of the proposed Service Dsitrict will be transitioned to the Financing Districts by way of an Intergovernmental Agreement when all of the public improvements necessary to serve the Service Area have been financed and constructed." The revised Plans state the following: (from Page 17, Pioneer Metro Service Plan) Additionally, the FFCOA will contemplate th., fottaation of an authority (the "Authority") once the D„vcl.,p...e..t I.aar„aeh.,d fall build out, to ftect,.at., tb., t.a.reit;.,.. t.,fit, Autl.,,.;ty of the responsibility f r provision of operation and maintenance aca vices provided to the Development by the Sc,v ice Di,trict. The Authority would be compi i3ed of the elected board member3 of the Pioneer Districts, who ...,ul.l I,e .e ;.l .d f u 1. D;,,t.i.,tsthat the control of the Service District will be transitioned to the Financing Districts by way of an Intergovernmental Agreement when all of the public improvements needed to serve the Service Area have been financed and constructed. It seems to me that"contemplating"that control will be transitioned is different than saying that control "will be"-- the first allows for an "out." I think that the word "contemplating" needs to say something like"ensure." Am I being too picky? Thanks for your thoughts on the matter. Brad 3/24/2006 Page 1 of 3 Carol Harding From: Carol Harding Sent: Friday, March 24, 2006 8:16 AM To: Brad Mueller Subject: RE: Pioneer Hearing Dates If I'm changing the May dates, I need to know before noon today. That's the publication deadline. Thanks Carol From: Brad Mueller Sent: Thursday, March 23, 2006 3:43 PM To: Carol Harding Subject: RE: Pioneer Hearing Dates Thanks -- I'll convey that we will be noticing the first hearing and that all presentations should be planned then. I didn't get a straight answer from them about the May dates, so I'll confirm that, too. B. From: Carol Harding Sent: Thursday, March 23, 2006 3:04 PM To: Brad Mueller; joy@reutzelandassoc.com Cc: Bruce Barker; Monica Mika Subject: RE: Pioneer Hearing Dates Yes, the Charter states the Ordinance is introduced on first reading; however, it does not define "introduced". Clerk to the Board has been instructed to have the Third Reading of any Ordinance be as simple as possible, with only minor changes being made. Therefore, the majority of any changes must be made on second reading. To meet this requirement and because of time constraints, we have, when the content of the Ordinance amendment is complex or required a more indepth "study" by the Board, had the presentation made on First Reading. (With a full presentation and the bevy of consultants.) Then the Board can have a work session (scheduled for April 19, 2006, at 1:30 p.m., in the first floor hearing room)to discuss/determine the exact language to be included in the Ordinance, and to give staff direction for second reading. Those changes/inclusions/deletions are formally adopted on second reading; thereby allowing a third reading with very few, if any changes. If it were not done this way, it would be very confusing to try to have a printed copy of the exact text being adopted on third reading. When we codified all Ordinances into the Weld County Code, we were advised by our Assistant County Attorney, Lee Morrison, that it was necessary to continue advertising notice of the first reading of Ordinances prior to that date, to comply with what used to be the Zoning Ordinance, etc., therefore, we do "typically" notice the first reading of any Ordinance in the Planning Services Section. From: Brad Mueller Sent: Thursday, March 23, 2006 9:50 AM 3/24/2006 Page 2 of 3 To: Carol Harding Cc: Bruce Barker; Monica Mika Subject: FW: Pioneer Hearing Dates Carol, Could you provide some help on this? My understanding was that the first reading is "typically" not the one consisting of full presentation, etc., but that the Board has discretion to request whatever it wants. This would be my response to Joy, but she does cite the Charter question about noticing, etc. Perhaps Monica and/or Bruce also have thoughts on the matter? Thank you, all, for any help or direction you can provide. Brad From: Joy McGee [mailto:joy@reutzelandassoc.com] Sent: Wednesday, March 22, 2006 4:33 PM To: Brad Mueller Subject: RE: Pioneer Hearing Dates Hi Brad, Could you please clarify a point in your email on the full presentation at first reading? That is a deviation from what we have discussed previously and our read of the County's Charter. First reading, according to Section 3- 14, is the "introduction". This as I understood was a reading of the ordinance along with the Planning Commission recommendation. From there the item was published and a public notice posted of the proposed ordinance and a hearing on the matter. Second reading then became the public hearing with the full presentation. It doesn't suggest that the first reading is even published in order to be considered the public hearing. Does this mean you want to see both the first and second reading with a full presentation and the bevy of consultants before the Board? I'm a little confused and hope you could clarify this for us. Joy. From: Brad Mueller [mailto:bmueller@co.weld.co.us] Sent: Tuesday, March 21, 2006 11:07 AM To: Joy McGee Cc: Monica Mika Subject: Pioneer Hearing Dates Joy, I was contacted by the Clerk to the Board with planning/proposed dates relative to the Pioneer Comp Plan Amendment. They are: April 10 -- First Reading @ 9:00 am (Board Hearing Room --full presentations from staff& ap would be anticipated) April 19 -- 1:30 Board work session (Board Hearing Room). This would be tentative until confirmed/requested by the Board at the First Reading. May 8 --Second Reading @ 9:00 am May 31 --Third Reading @ 9:00 am. You had indicated that the applicants may not be available throughout most of May. If this remains the case, please let me know ASAP, because otherwise noticing will go out with the May dates. I have alerted Carol about this possibility, which would push 2nd and 3rd Readings out to June, but we will need to know within the next day or SO. 3/24/2006 Page 3 of 3 Thanks. Please call with any questions. Brad 3/24/2006 MCGEADY SISNEROS, P. C. ATTORNEYS AT LAW 1675 BROADWAY, SUITE 2100 DENVER,COLORADO 80202 TELEPHONE:13031 592-4380 FACSIMILE:13031592-4385 WWW.MCGEADYSISNEROS.COM MARYANN M.MCGEADY SPECIAL COUNSEL DARLENE SISNEROS MARY JO DOUGHERTY KENNETH M.KOPROWIC2 ANNE K.LAPORTA MEGAN BECHER RUSSELL W.DYKSTRA KATHRYN S.KANDA JACQUELINE C.MURPHY GEORGE M.ROWLEY May 31, 2006 Weld County Clerk and Recorder 1402 17th Avenue P.O. Box 459 Greeley, CO 80632 Re: Pioneer Regional Metropolitan District Dear Clerk and Recorder: Enclosed for your information and records is a copy of the final Service Plan and Resolution of Approval for the captioned District. These documents are information only and do not need to be recorded. If you have any questions, or if you require additional information, please feel free to call. Very truly yours, MCGEADY SISNEROS,P.C. Elisabeth A. Cortese Paralegal /eac Enclosures cc: Division of Local Government (w/enclosures) State Auditors Office (w/enclosures) (00074122.DOC v:1}, ©t n/ Ce dry i an-" 6 C Oc r7 - l -4 „coot,-OgOD (ç;≥\ CLERK TO THE BOARD PHONE (970) 336-7215, EXT.4218 FAX: (970) 352-0242 P.O. BOX 758 GREELEY, COLORADO 80632 VILDe COLORADO STATE OF COLORADO) ' ss COUNTY OF WELD ) I, Donald D. Warden, Clerk to the Board of County Commissioners, in and for the County of Weld, State of Colorado, do hereby certify that the attached copy of Resolution #2006-0400, dated February 6, 2006, (4 pages) is a duplicate of the original Resolution on file in the Weld County Clerk to the Board's office. IN WITNESS WHEREOF, I have hereunto set my hand and affixed the seal of said County at Greeley, Colorado, this 20th day of March, 2006. 1 . � K TO THE BOARD t 1861 `�10y IR� 1' PUTY CLERK TO THE BB D Hello