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Home My WebLink About20050021 GARY R.WHITE BEAR • DAVID L.WALKER KRISTEN D. BEAR WHITE A DEBORAH A.EARLY WILLIAM P.ANKELE,JR. JOSEPH M.SELLARS KIMBERLY A.CASEY PROFESSIONAL CORPORATION JAMES EPARROT ALAN D.POGUE ATTORNEYS AT LAW JOSEPH J.LICO K.SEAN ALLEN REBECCA V.AMENT DANA K.NOTTINGHAM PETER F.WALTZ December 17, 2004 Steve Moreno Weld County Clerk and Recorder P.O. Box 459 Greeley, Colorado 80632 Re: SMPG Metropolitan District Nos. 1-6 Dear Mr. Moreno: Pursuant to Section 32-1-306, C.R.S., enclosed is a copy of the Consolidated Service Plan for SMPG Metropolitan District Nos. 1-6 to be retained by your office as a public record for public inspection. To confirm for our records that you have received the consolidated service plan, please sign the enclosed receipt and return it to our office in the enclosed, self-addressed, stamped envelope. If you have any questions, please don't hesitate to contact our office. Very truly yours, WHITE, BEAR& ANKELE Professional Corporation ?(047i4C, Joann V. Ebel Legal Assistant /jve Enclosures SMPG W O V OOU VE 15091704 0782 0009 1805 SHEA CENTER DRIVE, SUITE 100 • HIGHLANDS RANCH, COLORADO 80129 200 1J O.4OO ��.nmctN rt'9-$/j,NS TELEPHONE (303) 858-1800 • FACSIMILE (303) 858-1801 5 ®( -0 3 -0 S- 2005-0021 CONSOLIDATED SERVICE PLAN FOR SMPG METROPOLITAN DISTRICT NOS. 1-6 Prepared by William P. Ankele,Jr. White • Bear • Ankele Professional Corporation 1805 Shea Center Drive, Suite 100 Highlands Ranch,Colorado 80129 August 31,2004 • TABLE OF CONTENTS I. INTRODUCTION 1 A. General Overview 1 1. Multiple District Structure 2 2. Benefits of Multiple District Structure 3 3. Initial Boundaries/Expansions 4 4. Future Consolidation/Dissolution of Districts 4 5. Existing Services and Districts/Consents to Overlap 4 B. 2003 Certified Assessed Valuation 5 C. Contents of Service Plan 5 D. Modification of Service Plan 6 II. NEED FOR NEW DISTRICTS AND GENERAL POWERS 6 A. Need for Metropolitan Districts 6 B. General Powers of Districts 7 III. DESCRIPTION OF FACILITIES AND IMPROVEMENTS 10 A. General 10 B. General Design Standards 11 C. Wastewater System 11 D. Storm Drainage 11 E. Water System 11 F. Street System and Traffic Safety 12 G. Signals and Signage 12 H. Parks and Recreation 13 I. Mosquito and Pest Control 13 J. Fire Protection 13 K. Estimated Cost of Facilities 13 L. Improvement Dedication 13 IV. DEVELOPMENT PROJECTIONS 13 V. PROPOSED AGREEMENTS 14 A. Master Intergovernmental Agreement 14 B. Other Agreements/Authority 14 VI. OPERATION AND MAINTENANCE COSTS 14 VII. FINANCING PLAN 15 A. Financing of Proposed Facilities and Services 15 VIII. OTHER REQUIREMENTS/MISCELLANEOUS 18 A. Other Requirements 18 B. Miscellaneous 18 IX. CONCLUSIONS 18 r - 1 LIST OF EXHIBITS EXHIBIT A Map of Initial District Boundaries EXHIBIT A-1 Map of Expanded District Boundaries EXHIBIT B Legal Description of District Nos. 1-6 EXHIBIT C Financing Plan EXHIBIT D Public Improvements and Costs EXHIBIT E Statutory Contents of this Service Plan • I. INTRODUCTION A. General Overview The SMPG Metropolitan District Nos. 1-6 (collectively, the "Districts") are being organized for the purpose of acquiring, constructing and providing essential public infrastructure to support the needs of a new community to be developed within the territory known as the "Wilson Ranch," which was annexed to the Town of Berthoud (the "Project" and the "Town," respectively) on February 24, 2004. Section 11 of the Annexation and Development Agreement concerning Wilson Ranch contemplates the formation of special districts to provide funding and construction of public infrastructure to this area. The proposed Districts are generally located between Weld County Road 44 on the North, the Ronald E. West Parcel No. 1061-25-0-00-005 on the East, a dedicated right-of-way for Weld County Road 40 to the South, and Interstate Highway 25 to the West. The site consists of approximately 1,604 acres that are expected to be divided into several development areas planned for development of residential and commercial areas. Certain assumptions are made in this Consolidated Service Plan regarding number and type of residential units, as well as the square footage and location of commercial development. The actual composition and distribution of future development shall be as determined in accordance with subsequent development approvals to be sought from the Town, and nothing in this Service Plan shall be construed as the Town's approval of such matters. The primary purpose of the proposed Districts is to provide public improvements, most of which will be dedicated to the Town. The Districts will have the power to operate and maintain those improvements not dedicated to the Town. Improvements to be provided by the Districts shall include the types of facilities and improvements generally described in Section III, consisting of wastewater systems, storm drainage facilities, water systems, street and traffic safety facilities, park and recreation facilities, and mosquito/pest control. The proposed Districts are being organized to serve as a method by which development can occur in the Town in such a way as to eliminate economic risk to the Town, provide economic benefits to property owners, and place the risk of development on property developers. The Financing Plan discussed herein has been designed to assure that at no time will the Town will never have any legal responsibility for any of the Districts' obligations. This Service Plan is designed to assure that the risk of development remains with the developer until a sufficient tax base has been achieved to pay the Districts' debt with reasonable mill levies This Service Plan has been prepared with sufficient flexibility to enable the Districts to provide required services and facilities under evolving circumstances to meet the needs of the community. While the assumptions upon which this Service Plan are generally based are reflective of the current zoning for the property within the proposed Districts, the cost estimates and the Financing Plan are sufficiently flexible to enable the Districts to provide necessary services and facilities without the need for repeated amendments to the Service Plan. Modification of the proposed configuration of improvements, scheduling of construction of such 1 ' improvements, as well as the locations and dimensions of various facilities and improvements shall be permitted to accommodate development needs consistent with zoning and future development approvals for the property. Considerable public infrastructure will be constructed to provide the public improvements necessary for the Project. This Service Plan addresses the improvements that will be provided by the Districts and demonstrates how the Districts will work cooperatively to provide the necessary public improvements. All Exhibits referred to herein are attached to the end of this Service Plan. 1. Multiple District Structure. This Service Plan is submitted in accordance with Part 2 of the Special District Act (§32-1-201, et seq., C.R.S.). It defines the powers and authorities of, as well as the limitations and restrictions on, the SMPG Metropolitan District Nos. 1-6. SMPG Metropolitan District No. 1 shall be referred to as "the Coordinating District" and SMPG Metropolitan District Nos. 2-6 shall be referred to as "the Financing Districts." The Coordinating District and Financing Districts are sometimes collectively referred to as "the Districts" and individually as "the District." This structure is intended to provide for the fair and equitable allocation of public infrastructure improvements and services among the property within the Project. The use of a consolidated Service Plan for the Districts assures proper coordination of the powers and authorities of the independent Districts, and avoids confusion regarding the separate, but coordinated, purposes of the Districts that could arise if separate service plans were used. Unless otherwise specifically noted herein, general provisions of this Service Plan apply to all Districts. Where possible, however, specific reference is made to an individual District to help distinguish the powers and authorities of each District. The "Financing Plan" discussed in Section VII refers to a preliminary financial plan for the Districts which is intended to be read as a unified Financing Plan which may be used for public improvements for the Project. The Coordinating District is responsible for managing the construction and operation of facilities and improvements needed for the Project. The Financing Districts are responsible for providing the funding and tax base needed to support the Financing Plan. Various agreements have been, and are expected to be, executed by the Districts clarifying the nature of the functions and services provided by each District. The agreements are designed to help assure the orderly development of essential services and facilities, resulting in a community which will be both an aesthetic and economic asset to the Town. The Coordinating District shall be authorized to provide improvements and services to and for the benefit of the entire area of the Project, including but not limited to acquisition of completed improvements. Each Financing District will be authorized to provide improvements and services, including but not limited to acquisition of completed improvements, to the property within and without their respective legal boundaries, as they may be amended from time to time. The Coordinating District will have power to impose taxes only within its legal boundaries, but will be 2 permitted to impose fees and charges in all or any portion of the area within the Districts,as well as to property outside of the Districts based upon services provided to such property. It is currently anticipated that no residential units will be located within the Coordinating District. District Nos. 2, 3, 5 and 6 are expected to contain all of the residential development, and District No. 4 is expected to contain the commercial development. Bonds or other financial obligations may be issued by either the Coordinating District and/or the Financing Districts as appropriate to deliver the improvements and services to the property within the Project. 2. Benefits of Multiple District Structure. The multiple district structure offers significant benefits both to the Town and the Project, including future property owners. In general, those benefits are: (a) coordinated administration of construction and operation of public improvements, and delivery of those improvements in a fashion that supports the orderly development of the Project; (b)avoiding the issuance of debt prematurely; (c) creating a means for the fair and equitable allocation of costs of public infrastructure across the Project;and(d)obtaining the benefits of fmancing at low interest rates. These benefits are addressed further below: a. Coordinated Services. Development of the Project will proceed in several phases, each of which requires the extension of public services and facilities. The multiple district structure assures that the construction and operation of each phase of public facilities is primarily administered by a single Board of Directors consistent with a long term construction and operations program. This is consistent with"best practices"in the development industry involving projects with a long-term development horizon. Use of the Coordinating District as the entity responsible for construction of each phase of improvements and for management of operations will facilitate a well-planned financing effort through all phases of construction and assists in assuring coordinated extension of services. b. Avoids Premature Debt Issuance. The multiple district structure helps assure that facilities and services needed for future build-out of the Project will be provided when they are needed, and not sooner. Projects that do not utilize multiple districts may be motivated to issue debt prematurely, since the prospect of loss of control over decision making exists. c. Equitable Debt Allocation. Allocation of the responsibility for paying debt for capital improvements will continue to be managed through development of a unified financing plan for those improvements and through development of an integrated operating plan for long-term operations and maintenance. Use of the Coordinating District to manage these functions helps assure that no area within the Project becomes obligated for more than its share of the costs of capital improvements and operations. Low-density areas will not bear a disproportionate burden of debt and operating costs, nor will high valued areas bear disproportionate burdens. Intergovernmental agreements between the Districts will assure that mill levies remain equitable throughout the Project. 3 d. Bond Interest Rates. The use of the Coordinating District and/or the Financing Districts to issue bonds to provide for the cost of infrastructure in the Project will allow for the issuance of bonds at competitive interest rates. The combination of appropriate management, controlled timing of financing and the ability of the Districts to obtain attractive interest rates will benefit residents and property owners. 3. Initial Boundaries/Expansions. In order to implement the multiple district structure, the boundaries of the Coordinating District and the Financing Districts need to be carefully configured. At the time of submittal of this Service Plan, the District organizers own a portion of the total area proposed to be included within the legal boundaries of the Districts. The organizers have an option to purchase the balance of the property. Accordingly, the initial boundaries of the Districts will be expanded and adjusted via the inclusion/exclusion process to incorporate the balance of the property being acquired by the organizers in this manner. The initial boundaries of the Districts, as well as the ultimate boundaries as they are expected to exist following the purchase of the balance of the property by the District organizers are described and depicted in Exhibits A and A-1. Following acquisition of all of the property proposed to be included within the Districts, the combined area of the Districts is expected to consist of 1,604 acres. Due to the long-term nature of the Project, the potential need to respond to development patterns and the pace of growth, and to accommodate future financing dynamics,adjustments to the Districts' boundaries may be necessary or appropriate from time to time. Therefore, the Districts shall be permitted to make boundary adjustments with respect to the property located within the boundaries of any of the Financing Districts or Coordinating District without prior Town approval. Additionally, the Districts shall be permitted to include additional property within a 3- mile radius from the Districts without Town approval. 4. Future Consolidation/Dissolution of Districts. After all bonds or other debt instruments have been issued by the Districts, and adequate provision has been made for payment of all debt of the Districts, the electorate of the Districts will have the opportunity to consider either the consolidation of the Coordinating District and Financing Districts into a single entity, or the dissolution of the Coordinating District and/or Financing Districts in accordance with state law. The Coordinating District and Financing Districts will consider consolidation and/or dissolution at the time each District's debt has been paid and adequate provision has been made for operation of all the Coordinating District facilities. Ultimately, control of these decisions will rest with the electorate in each District. 5. Existing Services and Districts/Consents to Overlap. There are currently no other entities in existence in the undeveloped portion of the Project area which have the ability and/or desire to undertake the design, financing and construction of improvements needed for the community. Consequently, use of the new Districts is deemed necessary for the provision of public improvements in the Project. 4 Portions of the legal boundaries of the Districts (as initially configured and as ultimately expanded) overlap those of the Little Thompson Water District, the Thompson Rivers Park and Sanitation District, and the Johnstown Fire Protection District. It is the organizers' understanding that none of these existing districts plans to provide financing for the construction of improvements within the Districts being organized under this Service Plan. Further, the Districts do not plan to provide any services that these three districts would otherwise provide within the boundaries of the Districts being organized under this Service Plan. Therefore, compliance with the provisions of Section 32-1-107(3)(b)(III), C.R.S., relating to overlapping districts will be satisfied. Further, in accordance with Section 32-1-107(3)(b)(IV), C.R.S., the Districts shall obtain the consent of the Little Thompson Water District, the Thompson Rivers Park and Recreation District to the overlap, as a condition to the exercise of the water, park and recreation and fire protection powers by those Districts being organized hereunder to the extent the boundaries of such Districts overlap such existing districts. It is expected that the property now and hereafter included within the Districts' boundaries will be excluded from the Johnstown Fire Protection District, and subsequently included within the Berthoud Fire Protection District. To the extent necessary to permit the Districts' to exercise the power to provide fire protection facilities, and subject to the then- current status of boundary overlaps among the Districts, the Johnstown Fire Protection District and the Berthoud Fire Protection District, the Districts shall obtain the consent of the applicable Fire Protection District to any overlap, in accordance with Section 32-1-107(3)(b)(IV), C.R.S. In order to minimize the proliferation of new governmental structures and personnel, the Coordinating District intends to utilize existing entities as much as possible for operations and maintenance of public improvements. The timing for conveyance of improvements to the Town will be developed by mutual agreement between the Coordinating District and the Town as generally described in this Service Plan. It is possible that other key operations and maintenance services may be provided by other entities by appropriate agreements with the Coordinating District. Consequently, while the Coordinating District and Financing Districts exist to finance capital improvements and coordinate the provision of services,they intend to utilize existing entities and personnel as much as possible. B. 2003 Certified Assessed Valuation The 2003 certified assessed valuation of all taxable property within the boundaries of the Districts is approximately$35,030.00. C. Contents of Service Plan This Service Plan consists of a preliminary financial analysis and preliminary engineering plan showing how the facilities and services for the Project can continue to be provided and financed by the Districts. Numerous items are included in this Service Plan in order to satisfy 5 the requirements of law for formation of special districts. Those items are listed in Exhibit E attached hereto. Each of the requirements of law is satisfied by this Service Plan. The assumptions contained within this Service Plan were derived from a variety of sources. Information regarding the present status of property within the Districts, as well as the current status and projected future level of similar services, was obtained from the developer. Facility diagrams were provided by TST Inc. Consulting Engineers. Legal advice in the preparation of this Service Plan was provided by the law firm of White • Bear • Ankele Professional Corporation, which represents numerous special districts. D. Modification of Service Plan This Service Plan has been designed with sufficient flexibility to enable the Districts to provide required services and facilities for the Project under evolving circumstances without the need for numerous amendments. While the assumptions upon which this Service Plan are generally based are reflective of current zoning for the property within the Project, the cost estimates and the Financing Plan are sufficiently flexible to enable the Districts to provide necessary services and facilities without the need to amend this Service Plan. Modification of the general types of services and facilities, as well as changes in proposed configurations, locations, or dimensions of various facilities and improvements shall be permitted to accommodate development needs consistent with then-current zoning for the Project. II. NEED FOR NEW DISTRICTS AND GENERAL POWERS A. Need for Metropolitan Districts In order to establish compliance with the standards for Service Plan approval set forth in §32-1-203(1), C.R.S.,the following information is presented: 1. There is Sufficient Existing and Projected Need for Organized Service. The Financing Plan projects a total of 4,000 single/multi family units and approximately 3,000,000 square feet of commercial development to be constructed within the area served by the Districts between 2005 and 2035, representing a projected population of 9,550 persons. Accordingly, the demand for the services and facilities to be provided by the Districts is demonstrable. 2. The Existing Service in the Area to be Served is Inadequate for Present and Proiected Needs/Adequate Service Through Other Governmental Entities Will Not Be Available Within a Reasonable Time and on a Comparable Basis. The facilities and services to be provided by the proposed Districts will not be provided by any county, municipal or quasi- municipal corporations, including existing special districts. Neither the Town nor any existing special district plans to provide the facilities required for the development of the Project. Therefore,provision of facilities will not be available through other institutions. 3. The Districts are Capable of Providing Economical and Sufficient Service/The Districts Will Have the Financial Ability to Discharge Proposed Indebtedness on a Reasonable Basis. The proposed Districts are necessary in order to provide the most economical and efficient means of ownership and operation of essential improvements to serve existing and 6 future residents within their respective boundaries. The Financing Plan attached as Exhibit C demonstrates the feasibility of providing the improvements and services proposed herein on an economical basis. The formation of the Districts will facilitate the financing of the proposed public improvements at least cost, as the Districts will have access to tax-exempt financing that is not available to private entities. 4. The Creation of the Districts is in the Best Interests of the Area to be Served/Multiple District Structure. The matters described in items 1 through 3 of this Section establish that the creation of the Districts is in the best interests of the area to be served, in that they establish a demand for public improvements that will otherwise be unmet by other governmental entities and offer the advantage of obtaining public financing to fund these improvements. In addition, the use of a multiple district structure is beneficial, as it permits: a) the phasing of improvements to occur according to logical development modules, resulting in a more specific association of cost with benefit and less incentive to initiate public improvements programs too far in advance of development; b) the ability to arrange for delivery of public infrastructure in a manner that will conform to the approved development plans that will be associated with the Project in the future, thus permitting development of the Project in accordance with Town expectations; and c) maintenance of a reasonably uniform mill levy and fee structure through coordinated planning and financing for construction of public improvements. B. General Powers of Districts Each District will continue to have power and authority to provide the services and facilities described in this Service Plan both within and outside their boundaries in accordance with Colorado law. The powers and authorities of each District will be allocated and further refined in a"Master" Intergovernmental Agreement("IGA") between the Districts. For purposes of the Special District Act (§32-I-201, et seq., C.R.S.), the IGA shall not constitute an amendment of this Service Plan. It will constitute a binding agreement between the Districts regarding implementation of the powers contained in this Service Plan. 1. Sanitation and Storm Drainage. The design, acquisition, installation construction and operation and maintenance of storm or sanitary sewers, or both, sanitary sewer treatment and/or disposal facilities, flood and surface drainage improvements including but not limited to, culverts, dams, retaining walls, access ways inlets, detention ponds and paving, roadside swales and curb and gutter, wastewater lift stations, force mains and wetwell storage facilities, and all necessary or proper equipment and appurtenances incident thereto, together with all necessary, incidental and appurtenant facilities, land and easements, and all necessary extensions of and improvements to said facilities or systems. 2. Water. The design, acquisition, installation construction and operation and maintenance of a complete water and irrigation water system, including but not limited to, water rights, water supply, treatment, transmission and distribution systems for domestic and other public or private purposes, together with all necessary and proper water rights, equipment and appurtenances incident thereto which may include, but shall not be limited to, transmission lines, distribution mains and laterals, storage facilities, land and easements, extensions of and improvements to said systems. 7 3. Non-Potable Water. The design, acquisition, installation, construction, operation, and maintenance of an irrigation water system, including, but not limited to, water rights, water supply, storage, transmission and distribution systems for public or private purposes, together will all necessary and proper reservoirs, and facilities, wells, water rights, equipment and appurtenances incident thereto which may include but shall not be limited to, transmission lines,distribution mains and laterals, storage facilities, land and easements, together with extensions of and improvements to said systems. 4. Streets. The design, acquisition, installation, construction, operation, and maintenance of arterial street and roadway improvements, including but not limited to curbs, gutters, culverts, storm sewers and other drainage facilities, detention ponds, retaining walls and appurtenances, as well as sidewalks, bridges, pedestrian underpasses and tunnels, parking facilities, paving, lighting,grading, landscaping, undergrounding of public utilities, snow removal equipment, or tunnels and other street improvements, together with all necessary, incidental, and appurtenant facilities,land and easements,extensions of and improvements to said facilities. 5. Traffic and Safety Controls. The design, acquisition, installation, construction, operation, and maintenance of traffic and safety protection facilities and services through traffic and safety controls and devices on arterial streets and highways, as well as other facilities and improvements including but not limited to, signalization at intersections, traffic signs, area identification signs, directional assistance, and driver information signs, together with all necessary, incidental, and appurtenant facilities, land easements, extensions of and improvements to said facilities. 6. Parks and Recreation. The design, acquisition, installation, construction, operation and maintenance of public park and recreation facilities or programs including, but not limited to, grading, soil preparation, sprinkler systems, playgrounds, playfields, bike and hiking trails,pedestrian trails,pedestrian bridges, picnic areas,common area landscaping and weed control, outdoor lighting of all types, pedestrian underpasses and tunnels, urban plazas, and other facilities, together with all necessary, incidental and appurtenant facilities, land and easements, and all necessary extensions of and improvements to said facilities or systems. 7. Mosquito and Pest Control. The design, acquisition, installation, construction, operation, and maintenance of systems and methods for the elimination and control of mosquitoes,rodents and other pests. 8. Security Services. Subject to compliance with the provisions of §32-1- 1004(7), C.R.S., the financing design, acquisition, installation, construction, operation and maintenance of security services including, but not limited to, perimeter and interior scheduled security patrols, construction of safety barriers or similar protective measures, establishment of rules of conduct for residents and visitors, acquisition of security equipment, protection of the Districts' property from unlawful damage or destruction, together with any and all other security measures which may be necessary or appropriate to the orderly conduct of the affairs of the Districts and for the protection of the health, safety, and welfare of the Districts' residents, taxpayers,officers, and employees, inclusive of the general public in connection therewith. 8 , 9. Covenant Enforcement and Design Review. Subject to compliance with the provisions of §32-1-1004(8), C.R.S., the ability to prepare, implement and enforce design and development guidelines, rules and regulations, or similar protective controls regarding all construction activities within the Districts' boundaries, including but not limited to, architectural standards regarding the design, construction,erection, placement or installation of new structures or modification of existing structures within the Districts'boundaries. 10. Fire Protection and Emergency Services. The design, acquisition, installation,construction,operation,and maintenance of fire protection and emergency facilities and services including, but not limited to, the provision of protection against fire by any available means,ambulance services,emergency medical services, rescue services,fire stations,fire hydrants, and other, related facilities and improvements, together with all necessary, incidental, and appurtenant facilities,land easements,extensions of,and improvements to said facilities. 11. Legal Powers. The powers of the Districts will be exercised by their Boards of Directors to the extent necessary to provide the services contemplated in this Service Plan. The foregoing improvements and services, along with all other activities permitted by law, will be undertaken in accordance with, and pursuant to, the procedures and conditions contained in the Special District Act(§32-1-201, et seq., C.R.S.), other applicable statutes, and this Service Plan, as any or all of the same may be amended from time to time. 12. Other. In addition to the powers enumerated above, the Boards of Directors of the Districts shall also continue to have the following authority: a. To amend this Service Plan as needed, subject to the appropriate statutory procedures provided that any material modification of this Service Plan shall be made only with the approval of the Town's Board of Trustees in accordance with § 32-1-207, C.R.S., and after obtaining a resolution of approval from the Town's Board of Trustees, the Districts shall have the right to amend this Service Plan independent of participation of the other Districts; provided, that the Districts shall not be permitted to amend those portions of this Service Plan which affect, impair, or impinge upon the rights or powers of the other Districts without such other District's consent; and b. To forego, reschedule, or restructure the financing, including the security therefore, and/or the operation and maintenance of improvements and facilities in order to better accommodate the pace of growth, resource availability, and financial interests of property of the Districts; and c. To provide all such additional services and exercise all such powers as are granted expressly or by implication of Colorado law, and which the Districts are required to provide or exercise or, in their discretion, choose to provide or exercise, within the scope of the powers set forth above; and d. To exercise all necessary and implied powers under Title 32, C.R.S. in the reasonable discretion of the Boards of Directors of the Districts. 9 III. DESCRIPTION OF FACILITIES AND IMPROVEMENTS The Coordinating District and Financing Districts are permitted to exercise their statutory powers and their respective authority set forth herein to finance, construct, acquire, operate and maintain the public facilities and improvements described in Section II of this Service Plan, either directly or by contract. Where appropriate, the Districts may contract with various public and/or private entities to undertake such functions. The diagrams contained in the Exhibits to this Service Plan show the conceptual layouts of the public facilities and improvements described in this Section III. Additional information for each type of improvement needed for the Project is set forth in the following pages. It is important to note that the preliminary layouts contained in the exhibits are conceptual in nature only, and that modifications to the type, configuration, and location of improvements will be necessary as development proceeds. All facilities will be designed in such a way as to assure that the facility and service standards will be compatible with those of the Town and of other municipalities and special districts which may be affected thereby. The following sections contain general descriptions of the contemplated facilities and improvements that will be financed by the Financing Districts. The general descriptions of improvements set forth in this Service Plan, as well as the cost estimates provided are preliminary and will be subject to modification and revision by the Districts without the need for an amendment to this Service Plan, as necessary or appropriate based on development plans or approvals, engineering, financial factors, Town requirements and construction scheduling. Improvements not specifically described herein shall be permitted as long as they are generally identified in this Service Plan and/or expressly or impliedly granted by Colorado law. The total estimated cost of the improvements that the Districts assume will be financed is approximately $52,751,010.00, inclusive of engineering and construction contingencies, but exclusive of other soft costs and all costs of issuance, including but not limited to bond issuance expenses, debt service reserves, capitalized interest, underwriter's discount, legal fees, as well as organizational costs. Notwithstanding the cost estimate allocations among particular categories of improvements, the Districts shall be permitted to reallocate costs among such categories of improvements as necessary to best serve the Project. A. General Construction of all planned facilities and improvements will be scheduled to allow for proper sizing and phasing to keep pace with the need for service. All descriptions of the specific facilities and improvements to be constructed, and their related costs, are estimates only and are subject to modification as engineering, development plans, economics, the Town's requirements, and construction scheduling may require. 10 B. General Design Standards Improvements within the Districts are planned to be designed and installed by the Coordinating District in general conformance with current standards adopted by the Coordinating District. Those improvements which ultimately will be dedicated to the Town will be designed and installed in general conformance with standards adopted by the Town. C. Wastewater System. The sanitary sewer improvements will be designed and installed to conform to Town standards and the current standards and recommendations of the Colorado Department of Health, and rules and regulations adopted by the Coordinating District or other affected entities, and sound engineering judgment. All major elements of the sanitary sewer improvements required for proper operation are expected to be designed, and installed by the Coordinating District. Operations and maintenance of all wastewater facilities is expected to be provided by the Coordinating District, until such facilities are dedicated to the Town in accordance with this Service Plan. D. Storm Drainage. 1. Generally. The Coordinating District is expected to install the necessary storm drainage system to serve the property within the Districts. The proposed elements of the storm drainage system will provide a network of culverts, roadside swales, pipes detention and water quality ponds, inlet and outlet structures, and curbs and gutters designed and installed in accordance with applicable Town standards and sound engineering judgment. 2. Culverts. Culverts will be installed as appropriate. Culverts will be designed and constructed to pass flows as required by Town standards, and may include headwalls, wing walls, inlet and outlet structures, and riprap protection to enhance their hydraulic capacity and reduce bank or channel erosion. E. Water System. 1. Overall Plan. The water system is planned to consist of potable and irrigation water distribution systems consisting of buried water mains, fire hydrants, and related appurtenances located predominately within the Districts' boundaries. The final configuration of the water systems is yet to be designed. When design and construction are finalized, the system will serve each development tract from adjacent streets and roads. All major elements of the water facilities are expected to be designed and installed by the Coordinating District. Operations and maintenance of all water facilities is intended to be provided by the Coordinating District,until such facilities are dedicated to the Town in accordance with this Service Plan. 11 2. Design Criteria. The proposed domestic potable water distribution system and the irrigation water system are expected to include pressurized water mains with multiple pressure zones. Water system components will be designed and installed in accordance with Town standards and the applicable standards of the Coordinating District. The water system will also be designed based on applicable fire protection requirements. 3. Non-Potable Water Demand. Demands placed on the water system will fluctuate with use. Demand will be that required to satisfy the needs of the Districts' customers for landscape irrigation, which will reduce the amount of potable water required. Raw water systems will not be conveyed to the Town nor become the Town's responsibility for operations and maintenance. F. Street System and Traffic Safety. 1. General. Anticipated improvements include design, construction and/or acquisition of an entire public street system and associated street furnishings, landscaping and amenities within the Districts. Pedestrian-oriented streets such as those planned for portions of the Districts contain a high concentration of public amenities (lighting, furnishings, special paving and curb treatments, enhanced landscaping, public art, etc.). Street improvements will be constructed in dedicated public rights-of-way. Typical elements may include: a. Grading; b. Street,curb, sidewalk and storm inlet construction; c. Street trees, tree grates, tree lawns, hedges, other forms of landscaping and irrigation systems; d. Street and pedestrian lighting and electrical service to serve this lighting; and e. Street furnishings such as benches, bike racks, trash receptacles, poles, signage and newspaper vending machine corrals. All facilities will be designed and installed in accordance with applicable Town standards and sound engineering judgment. G. Signals and Signage. Anticipated improvements include new traffic signals and controls associated with the new public streets within the Project. New traffic signals and associated electrical connections are anticipated along the major roadways within the Project. Traffic signage and controls (stop, yield, directional signage, etc.) will also be required along newly constructed public streets and at intersections throughout the site and shall, at a minimum, comply with Town standards. 12 • H. Parks and Recreation. Any park and recreational and landscaping facilities and/or services that the Coordinating District determines to undertake will be, at a minimum, designed and constructed in accordance with Town standards. 1. Landscaping. Landscaping may be installed along the roadway rights-of- way and trail easements. The Coordinating District expects to install and maintain landscaped highlights along the internal streets and entry features at major entrances. Additional features may be installed and maintained by the developers of the individual parcels. I. Mosquito and Pest Control. The Districts shall be permitted to construct, acquire, install and otherwise provide various systems and equipment, as well as employ appropriate methods for the elimination and control of mosquitoes, rodents and other pests. Such systems and equipment shall conform to applicable standards of the Town. J. Fire Protection. The Districts expect to construct, acquire, install and otherwise provide fire protection facilities and equipment, including temporary and/or permanent fire stations and related structures, engine trucks, ladder trucks, and any and all other materials, equipment and facilities necessary to such functions. Fire protection facilities and equipment shall be coordinated with the standards of the applicable Fire Protection District, to which such facilities and equipment are expected to be dedicated for ownership,operations and maintenance. K. Estimated Cost of Facilities. The estimated cost of the facilities to be constructed, installed and/or acquired by the Coordinating District are shown in Exhibit F attached hereto. L. Improvement Dedication. The Districts expect to dedicate or cause to be dedicated, to the Town or other appropriate governmental entity, all public improvements that are eligible for dedication and ongoing ownership, operations and/or maintenance. All such improvements not accepted by the Town or other appropriate governmental entity for ongoing ownership, operations and/or maintenance,shall be owned,operated and/or maintained by the Districts. IV. DEVELOPMENT PROJECTIONS Land use within the Project will be residential and commercial, and projection of the number and type of residential units, as well as projections of commercial development, are included within the Financing Plan. 13 V. PROPOSED AGREEMENTS A. Master Intergovernmental Agreement As noted in this Service Plan, the relationship between the Coordinating District and the Financing Districts, including the means for approving, financing, constructing, and operating the public services and improvements needed to serve the Project will be established by means of a Master IGA to be executed by the Districts after organization. The Master IGA is expected to generally provide that the Financing Districts will pay to the Coordinating District over a period of years the costs of: (1) the construction, acquisition, and equipping of certain public facilities and services, and (2) the operation and maintenance of the facilities. The Master IGA is expected to state that the obligation to pay the amounts required thereunder is a contractual general obligation debt of the Financing Districts subject to certain limitations, and as such the question of whether the Financing Districts should enter into the Master IGA would require approval by the electorate of the Districts. Under the Master IGA, the Financing District is expected to covenant to levy the taxes necessary, together with other available funds, to meet the payment obligations set forth in the agreement. In return for the payment under the agreement, the Coordinating District would agree to: (1) acquire, construct and equip the facilities, (2) provide for their operation and maintenance, and (3) provide service to the property within the Districts or convey facilities to other appropriate entities that will provide service. The total obligation of the Financing Districts represented by the Master IGA would be limited to the costs of construction and operations and maintenance as set forth in this Service Plan. B. Other Agreements/Authority To the extent practicable, the Districts may enter into additional intergovernmental and private agreements to better ensure long-term provision of the improvements and services and effective management. Agreements may also be executed with property owner associations and other service providers. All such agreements are authorized pursuant to Colorado Constitution, Article XIV, §18(2)(a)and §29-1-201, et seq., C.R.S. VI. OPERATION AND MAINTENANCE COSTS Estimated costs for operation and maintenance functions are presented in Exhibit C attached hereto. Additionally, the Coordinating District shall have the power impose a system of rates, fees, tolls, penalties and charges for facilities and services provided, in accordance with Colorado law. The estimated revenues from such fees and charges are reflected in the Financing Plan discussed in the following section. 14 VII. FINANCING PLAN A. Financing of Proposed Facilities and Services Capital facilities and operations costs of the Districts will be funded by the Coordinating District and/or the Financing Districts from a combination of property taxes and non-tax revenues as described below. The Districts may authorize, issue, sell, and deliver such bonds, notes, contracts, reimbursement agreements, or other obligations evidencing or securing a borrowing (collectively, "Obligations") as are permitted by law. Obligations may be payable from any and all legally available revenues of the Districts in any form or combination of forms that may be permitted by applicable law, and nothing in this Service Plan shall be construed to limit the type, structure, timing or other elements of specific Obligations issued by the Districts. All or any portion of the proceeds of the Obligations issued may be used to fund such previously incurred expenses for public improvements via reimbursement to and/or acquisition from the entity advancing the costs for such improvements. Further, it is expected that the costs advanced for the organization and initial operations of the Districts will be similarly reimbursable to the entity advancing such costs. The Districts may also issue the Obligations directly to the organizers or other private party advancing funds or furnishing facilities on behalf of the Districts from time to time, to reimburse funds advanced and/or acquire facilities so constructed. Other than with respect to the mill levy cap and Debt Limits (defined below), the Districts shall be permitted to modify the nature, amount, timing, structure, security enhancements, or type of financing used from that shown in the Financing Plan to respond to current needs and circumstances, such modifications not being considered a material modification of this Service Plan, as it applies to any individual District,or collectively to all the Districts. The Financing Plan attached as Exhibit C and prepared by the Districts' organizers, sets forth certain assumptions, and estimated revenues, expenses, and debt service requirements with respect to each District. The Financing Plan contains one illustration of a financing structure by which the improvements would be financed, including the estimated costs of engineering services, legal services, administrative services, proposed bond issuances, estimated maximum proposed interest rates and discounts, land or facilities to be acquired, and other major expenses relating to the organization and operation of the Districts. The Financing Plan assumes no revenues from Conservation Trust Funds, and the Districts shall request such funds only if separately approved by the Town. The funds and assets of the Town shall not be pledged as security for the repayment of any Obligations issued by the Districts. 1. General Obligation Debt. As used in this Consolidated Service Plan, the term "General Obligation Debt" means the principal amount of any Obligation (other than those represented by the IGAs and Revenue Obligations as herein defined) payable in whole or in part from ad valorem property taxes to be imposed by any of the Financing Districts. General Obligation Debt may be issued in an amount approved by the Boards of Directors of the 15 Financing Districts for improvements or services eligible for funding in accordance with applicable law, subject to the limitations set forth herein. In order to respond to future contingencies and increases in costs, each Financing District's new money General Obligation Debt issuance limit will be $20,000,000.00 (the "Individual Debt Limit"), and the total General Obligation Debt issuance limit for all Financing Districts combined shall be $75,000,000.00 (the "Combined Debt Limit") (the Individual Debt Limit and Combined Debt Limit are referred to herein collectively as the "Debt Limits"). The issuance of the General Obligation Debt by each Financing District shall count both against that District's Individual Debt Limit, and also against the Combined Debt Limit, neither of which may be exceeded by the District issuing the General Obligation Debt without obtaining approval of an amendment to this Consolidated Service Plan. In this fashion, the Districts will have reasonable flexibility to adjust the actual amount of General Obligation Debt to be issued, to respond to changing development dynamics, economic conditions within the Districts, the potential for District boundary adjustments as described previously, and changing capital costs. The Districts also shall be permitted to seek debt authorization from their electorates in excess of these amounts to account for contingencies, but may not issue debt beyond the Debt Limits prescribed without approval through an amendment to this Service Plan. The obligations of the Districts in IGAs (including the Master IGA) concerning the funding and/or operations of the Districts' public improvements and services, for which voter approval has been obtained to the extent required by law, will not count against the Debt Limits, nor shall any Revenue Obligations payable from rates, fees, tolls and charges issued by the Districts. Increases necessary to accomplish a refunding, reissuance or restructuring of General Obligation Debt shall also not count against the Debt Limits. The District may authorize, issue, sell, and deliver such Obligations as are permitted by law;provided that the following limitations shall apply to General Obligation Debt except where waived by the Town or as is otherwise provided herein: a. For that portion of each District's General Obligation Debt which exceeds 50%of the District's assessed valuation,the maximum mill levy the District can promise to impose for the payment of such General Obligation Debt shall be: 50 mills reduced by the number of mills necessary to pay unlimited mill levy General Obligation Debt described in B below; provided however, that in the event the method of calculating assessed valuation is changed after the date of the approval of this Service Plan, the mill levy limitation applicable to such General Obligation Debt may be increased or decreased to reflect such changes, such increases or decreases to be determined by the Board in good faith (such determination to be binding and final) so that to the extent possible, the actual tax revenues generated by the mill levy, as adjusted, are neither diminished nor enhanced as a result of such changes. For purposes of the foregoing, a change in the ratio of actual valuation to assessed valuation shall be deemed to be a change in the method of calculating assessed valuation. b. For that portion of the District's General Obligation Debt which is equal to or less than 50% of the District's assessed valuation, either on the date of issuance or at any time thereafter, the maximum mill levy the District can promise to impose for the payment 16 of such General Obligation Debt shall be such amount as may be necessary to pay the debt service on such General Obligation Debt, without limitation of rate. For purposes of the foregoing: (i) a District's assessed valuation shall include all taxable real and personal property upon which the District is permitted to impose its debt service mill levy; and (ii) once General Obligation Debt has been determined to be within b above so that the District is entitled to pledge to its payment an unlimited ad valorem mill levy, the District may provide that such General Obligation Debt shall remain secured by such unlimited mill levy, notwithstanding any subsequent change in the ratio of General Obligation Debt to assessed valuation. 2. Revenue Obligations. The Districts shall also be permitted to issue revenue bonds or other obligations (collectively, the"Revenue Obligations") in such amount and payable from such sources as the Districts may determine. The Coordinating District may also issue Revenue Obligations payable from the pledge of funds from the Financing Districts under the Master IGA. Amounts issued in the form of Revenue Obligations shall not be subject to the Debt Limits established above. 3. Master IGA Obligations. The Master IGA is expected to provide that the obligation of the Financing Districts to pay the Coordinating District for capital and general operating expenses of the Districts shall constitute "contractual debt" of the Financing Districts, but shall not count against the Debt Limits. Accordingly, mill levies certified to make necessary payments to the Coordinating District may be characterized as debt service or operation mill levies notwithstanding that they are imposed in part to pay contractual obligations for debt service and operations and maintenance services provided by the Coordinating District. 4. Enterprises. The Districts may exercise any of its powers through enterprises established in accordance with Article X, §20 of the Colorado Constitution (TABOR). 5. Rates and Charges. In connection with the IGAs described above, and as necessary to supplement revenues from property taxes for purposes of either meeting debt service or operating expenses, the Districts shall have the power to derive revenue from and pledge any other legally-available revenue source, including but not limited to those derived from fees, rates, tolls, penalties or charges as provided by § 32-1-1001(1), C.R.S., or otherwise as may be permitted by law. The Financing Plan therefore assumes revenues from various sources in addition to property taxes, and may include in the future such other revenues as the Districts may legally generate. The Financing Plan demonstrates that the Districts will have the financial capability to discharge the proposed indebtedness with reasonable mill levies assuming reasonable increases in assessed valuation and assuming the rate of build-out estimated therein. 17 VIII. OTHER REQUIREMENTSIMISCELLANEOUS A. Other Requirements. The Financing Districts and Coordinating District shall continue to be subject to the following additional requirements: 1. Submission of annual reports as described in §32-1-207(3), C.R.S., in the form prescribed by the Town. 2. Material modifications of this Service Plan, except as contemplated herein, shall be subject to approval by The Town in accordance with the provisions of §32-1- 207,C.R.S. B. Miscellaneous. The Districts shall be empowered to undertake all activities authorized by this Service Plan, including all powers necessary or implied therefrom, in accordance with the Special District Act (§32-1-201, et seq., C.R.S.). The grant of authority contained in this Service Plan does not constitute the agreement or binding commitment of the Districts enforceable by third parties to undertake the activities described,or to undertake such activities exactly as described. IX. CONCLUSIONS It is submitted that this Consolidated Service Plan for SMPG Metropolitan District Nos. 1-6 as required by §32-1-204.5(1), C.R.S., has established that: A. There is sufficient existing and projected need for organized service in the area to be served by the Districts. B. The existing service in the area to be served by the Districts is inadequate for present and projected needs. C. The Districts are capable of providing economical and sufficient service to the area within their boundaries. D. The area included in the Districts does have, and will have, the financial ability to discharge the proposed indebtedness on a reasonable basis. Therefore, it is requested that the Board of Trustees of the Town of Berthoud, Colorado, which has jurisdiction to approve this Service Plan by virtue of§32-1-204.5, C.R.S., et spa., as amended, adopt a resolution, which approves this "Consolidated Service Plan for SMPG Metropolitan District Nos. 1-6, as submitted. SMPG\SPLANW6U V E 1435091704 0782.0003 18 EXHIBIT A Map of Initial District Boundaries 1/4"..... EXHIBIT A SMPG METROPOLITAN DISTRICTS j GI i MAP OF INITIAL DISTRICT BOUNDARIES WELD COUNTY, COLORADO Q 9 2\c---- SMPG METROPOLITAN DISTRICT NOS. 1-6 3 DISTRICTS WELD COU TY ROAD 11 /// •• • . q DISTRICT 1 DISTRICT 4 /c N J DISTRICT 2 ii DISTRICT 5 � 2 • - ■ ��- C7-----._ DISTRICT 3 ;1 DISTRICT 6< I le\ -:s CC V /7 ---------51 ....NVICINITY MAP z —�/ b \ _ FUTURE LAMMED O ® DISTRICT I = + + i Mr v Q -I WIELD :® ' E1CPAI4Si )N I • I E Tom„ W ) 1 i y' ----\ . N c g a . ._ e DISTRICT • — "'a" DIRECTORS -4IPARCEL /II -- ry . I : m . n ..mentLITTLE • FEVER - liki ,,/ / OO" SCALE 1' = 500 O. s •• • v " Ile- .�. r ,..,....\ , 748 Whalers Way, Bldg- D Fort Collins, Colorado Phone: 970.226.0557 Fax: 970.226.Q204 Job no. 0972-0012 Filename: exhibit 7-28-04 \�, August 25, 2004 EXHIBIT A-1 Map of Expanded District Boundaries EXHIBIT A-1 SMPG METROPOLITAN DISTRICTS MAP OF EXPANDED DISTRICT BOUNDARIES WELD COUNTY, COLORADO SMli PG METROPOLITAN DISTRICT NOS. 1-6 G I DISTRICTS , DISTRICT 1 DISTRICT 4 CC D U 7 DISTRICT 2 DISTRICT 5 iii WELD COUNTY ROAD 11 ` 1 DISTRICT 3 DISTRICT 6 ♦ ' e a0 LANCER O4 i I �y i �\7 ' VICINITY MAP �� cc , \..."--,-7„..______.„ I �.__� i� I 1 t' $ wen ' r 4 oil its . i_ .. . PR�JE� T• O 1 i) 11_____c_ . ...---";€"°-) K-} , , LLI JII 0- Lai TI D181NCf Y � h 1 1N PARCEL 00 a p . x t� Z —art tjw,- 1 fi SCALE: 1' = 1000' nos � kfa i w '1"° A•sx .t' x y. ��.-g:...-u,_r.' ¢ ��.� �, • ST , - . I , ... ,. . , a .,. K w _ m ,�+ .. a • ry -4...cy. yr` a... „f4a, `6;:f rA1714 �9V-V. . ',, Oh�f`iG771q �,�ii ` it ME . .�it le r ri 'r� I9 _ +. it!-e-s-�n�,«-s�� r.,f��+.. a�->a�==a=r: - 748 Whalers Way, Bldg. D _ Fort C019ns, Colorado .� , nau,� a� INTERSTATE 25 Phone: 970.226.0557 naMraow UNDERPASS Fax: 970.226.0204 RIVER Job no. 0972-0012 Filename: exhibit 7-28-04 August 25, 2004 EXHIBIT B Legal Description of Districts 1-6 LEGAL DESCRIPTION-WILSON RANCH METRO DISTRICT 1 A TRACT OF LAND LOCATED IN SECTION 23, TOWNSHIP 4 NORTH, RANGE 68 WEST, OF THE SIXTH PRINCIPAL MERIDIAN; COUNTY OF WELD, STATE OF COLORADO; BEING MORE PARTICULARLY DESCRIBED AS FOLLOWS: COMMENCING AT THE NORTHWEST CORNER OF SAID SECTION 23, BEING A 2- 1/2 "ALUMINUM CAP STAMPED LS 12374, IN A MONUMENT BOX AND CONSIDERING THE NORTH LINE OF THE NORTHWEST QUARTER OF SAID SECTION 23 TO HAVE AN ASSUMED BEARING OF N89°14'20"E WITH ALL OTHER BEARINGS RELATIVE THERETO; THENCE ALONG THE NORTH LINE OF THE NORTHWEST QUARTER OF SAID SECTION 23, N89°14'20"E, 2,359.95 FEET TO THE POINT OF BEGINNING; THENCE CONTINUING ALONG SAID NORTH LINE, N89°14'20"E, 232.20 FEET; THENCE S29°46'29'W, 232.20 FEET; THENCE S89°14'20"W, 232.20 FEET; THENCE N29°46'29"E, 232.20 FEET TO THE POINT OF BEGINNING. SAID PARCEL CONTAINS 1.07 ACRES (46,439 SQUARE FEET) MORE OR LESS AND IS SUBJECT TO ALL RIGHTS-OF-WAY, EASEMENTS AND RESTRICTIONS NOW IN USE OR OF RECORD. Page 1 of 6 LEGAL DESCRIPTION-WILSON RANCH DISTRICT 2 A TRACT OF LAND LOCATED IN SECTION 23, TOWNSHIP 4 NORTH, RANGE 68 WEST, OF THE SIXTH PRINCIPAL MERIDIAN; COUNTY OF WELD, STATE OF COLORADO; BEING MORE PARTICULARLY DESCRIBED AS FOLLOWS: BEGINNING AT THE NORTHEAST CORNER OF SAID SECTION 23, BEING A 2-1/2 " ALUMINUM CAP STAMPED LS 23501, IN A MONUMENT BOX AND CONSIDERING THE EAST LINE OF THE NORTHEAST QUARTER OF SAID SECTION 23 TO HAVE AN ASSUMED BEARING OF S00°01'33"E WITH ALL OTHER BEARINGS RELATIVE THERETO; THENCE ALONG THE EAST LINE OF THE NORTHEAST QUARTER OF SAID SECTION 23, S00°01'33"E, 1,974.49 FEET; THENCE DEPARTING SAID LINE, S34°28'43"W, 273.61 FEET; THENCE S89°58'27"W, 1,379.95 FEET; THENCE N00°01'33'9, 200.00 FEET; THENCE S89°58'27"W 200.00 FEET; THENCE S00°01'33"E, 200.00 FEET; THENCE S89°58'27"W, 1,100.37 FEET; THENCE N31°26'39"W, 882.85 FEET; THENCE N29°46'29"E, 228.19 FEET; THENCE N31°26'39"W, 456.38 FEET; THENCE N29°46'29"E, 714.21 FEET; THENCE N89°14'20"E, 232.20 FEET; THENCE N29°46'29"E, 232.20 FEET THENCE N89°14'20"E, 62.59 FEET TO THE NORTH QUARTER CORNER OF SAID SECTION 23, SAID POINT ALSO BEING A POINT ON THE BOUNDARY OF THAT PARCEL OF GROUND DESCRIBED IN THE DEED RECORDED AT RECEPTION NO. 2807245; THENCE ALONG SAID BOUNDARY THE FOLLOWING THREE (3) COURSES: 1. S00°05'20"E, 200.01 FEET; 2. N89°14'23"E, 100.01 FEET; 3. N00°05'20"W, 200.01 FEET TO A POINT ON THE NORTH LINE OF THE NORTHEAST QUARTER OF SAID SECTION 23; THENCE ALONG SAID NORTH LINE, N89°14'23"E, 2,555.11 FEET TO THE POINT OF BEGINNING. SAID PARCEL CONTAINS 155.74 ACRES (6,783,955 SQUARE FEET) MORE OR LESS AND IS SUBJECT TO ALL RIGHTS-OF-WAY, EASEMENTS AND RESTRICTIONS NOW IN USE OR OF RECORD. Page 2 of 6 LEGAL DESCRIPTION-WILSON RANCH DISTRICT 3 A TRACT OF LAND LOCATED IN SECTION 23, TOWNSHIP 4 NORTH, RANGE 68 WEST, OF THE SIXTH PRINCIPAL MERIDIAN; COUNTY OF WELD, STATE OF COLORADO; BEING MORE PARTICULARLY DESCRIBED AS FOLLOWS: COMMENCING AT THE NORTHEAST CORNER OF SAID SECTION 23, BEING A 2- 1/2 "ALUMINUM CAP STAMPED LS 23501, IN A MONUMENT BOX AND CONSIDERING THE EAST LINE OF THE NORTHEAST QUARTER OF SAID SECTION 23 TO HAVE AN ASSUMED BEARING OF S00°01'33"E WITH ALL OTHER BEARINGS RELATIVE THERETO; THENCE ALONG THE EAST LINE OF THE NORTHEAST QUARTER OF SAID SECTION 23, S00°01'33"E, 1,974.49 FEET TO THE POINT OF BEGINNING, THENCE CONTINUING ALONG SAID EAST LINE, S00°01'33"E, 225.48 FEET; THENCE S89°58'27"W, 154.99 FEET; THENCE N34°28'43"E, 273.61 FEET TO THE POINT OF BEGINNING. SAID PARCEL CONTAINS 0.40 ACRES (17,473 SQUARE FEET) MORE OR LESS AND IS SUBJECT TO ALL RIGHTS-OF-WAY, EASEMENTS AND RESTRICTIONS NOW IN USE OR OF RECORD. Page 3 of 6 LEGAL DESCRIPTION-WILSON RANCH METRO DISTRICT 4 A TRACT OF LAND LOCATED IN SECTION 23, TOWNSHIP 4 NORTH, RANGE 68 WEST, OF THE SIXTH PRINCIPAL MERIDIAN; COUNTY OF WELD, STATE OF COLORADO; BEING MORE PARTICULARLY DESCRIBED AS FOLLOWS: COMMENCING AT THE NORTHWEST CORNER OF SAID SECTION 23, BEING A 2- 1/2 "ALUMINUM CAP STAMPED LS 12374 IN MONUMENT BOX AND CONSIDERING THE NORTH LINE OF THE NORTHWEST QUARTER OF SAID SECTION 23 TO HAVE AN ASSUMED BEARING OF N89°14'20"E WITH ALL OTHER BEARINGS RELATIVE THERETO; THENCE ALONG THE NORTH LINE OF THE NORTHWEST QUARTER OF SAID SECTION 23, N89°14'20"E, 2,359.95 FEET; THENCE DEPARTING SAID LINE, S29°46'29"W, 946.42 FEET TO THE POINT OF BEGINNING, THENCE S31°26'39"E, 228.19 FEET; THENCE S29°46'29"W, 228.19 FEET; THENCE N31°26'39"W, 228.19 FEET; THENCE N29°46'29"E, 228.19 FEET TO THE POINT OF BEGINNING. SAID PARCEL CONTAINS 1.05 ACRES (45,638 SQUARE FEET) MORE OR LESS AND IS SUBJECT TO ALL RIGHTS-OF-WAY, EASEMENTS AND RESTRICTIONS NOW IN USE OR OF RECORD. Page 4 of 6 LEGAL DESCRIPTION-WILSON RANCH METRO DISTRICT 5 A TRACT OF LAND LOCATED IN SECTION 23, TOWNSHIP 4 NORTH, RANGE 68 WEST, OF THE SIXTH PRINCIPAL MERIDIAN; COUNTY OF WELD, STATE OF COLORADO; BEING MORE PARTICULARLY DESCRIBED AS FOLLOWS: COMMENCING AT THE NORTHWEST CORNER OF SAID SECTION 23, BEING A 2- 1/2 "ALUMINUM CAP STAMPED LS 12374 IN MONUMENT BOX AND CONSIDERING THE NORTH LINE OF THE NORTHWEST QUARTER OF SAID SECTION 23 TO HAVE AN ASSUMED BEARING OF N89°14'20"E WITH ALL OTHER BEARINGS RELATIVE THERETO; THENCE ALONG THE NORTH LINE OF THE NORTHWEST QUARTER OF SAID SECTION 23, N89°14'20"E, 2,359.95 FEET; THENCE DEPARTING SAID LINE, S29°46'29"W, 946.42 FEET; THENCE S31°26'39"E, 228.19 FEET TO THE POINT OF BEGINNING, THENCE CONTINUING ALONG SAID LINE, S31°26'39"E, 228.19 FEET; THENCE S29°46'29"W, 228.19 FEET; THENCE N31°26'39'W, 228.19 FEET; THENCE N29°46'29"E, 228.19 FEET TO THE POINT OF BEGINNING. SAID PARCEL CONTAINS 1.05 ACRES (45,638 SQUARE FEET) MORE OR LESS AND IS SUBJECT TO ALL RIGHTS-OF-WAY, EASEMENTS AND RESTRICTIONS NOW IN USE OR OF RECORD. Page 5 of 6 LEGAL DESCRIPTION-WILSON RANCH DISTRICT 6 A TRACT OF LAND LOCATED IN SECTION 23, TOWNSHIP 4 NORTH, RANGE 68 WEST, OF THE SIXTH PRINCIPAL MERIDIAN; COUNTY OF WELD, STATE OF COLORADO; BEING MORE PARTICULARLY DESCRIBED AS FOLLOWS: COMMENCING AT THE NORTHEAST CORNER OF SAID SECTION 23, BEING A 2- 1/2 "ALUMINUM CAP STAMPED LS 23501 IN MONUMENT BOX AND CONSIDERING THE EAST LINE OF THE NORTHEAST QUARTER OF SAID SECTION 23 TO HAVE AN ASSUMED BEARING OF S00°01'33"E WITH ALL OTHER BEARINGS RELATIVE THERETO; THENCE ALONG THE EAST LINE OF THE NORTHEAST QUARTER OF SAID SECTION 23, S00°01'33"E, 2,199.97 FEET; THENCE DEPARTING SAID LINE, S89°58'27"W, 1,534.94 FEET TO THE POINT OF BEGINNING, THENCE CONTINUING, S89°58'27"W, 200.00 FEET; THENCE N00°01'33"W, 200.00 FEET; THENCE N89°58'27"E, 200.00 FEET; THENCE S00°01'33"E, 200.00 FEET TO THE POINT OF BEGINNING. SAID PARCEL CONTAINS 0.92 ACRES (40,000 SQUARE FEET) MORE OR LESS AND IS SUBJECT TO ALL RIGHTS-OF-WAY, EASEMENTS AND RESTRICTIONS NOW IN USE OR OF RECORD. K:\972\0012Megals\REVISED wilson ranch metro dist legals.doc REV. 8/12/2004 Page 6 of 6 EXHIBIT C Financing Plan Stan Bernstein and Associates, Inc. Financial Planners and Consultants For Local Governments, Municipal Bond Underwriters, and Real Estate Developers 8400 East Prentice Ave., Penthouse Greenwood Village, Colorado 80111 Phone: 303-409-7611 Fax: 303-409-7612 Email: Stanplan®Earthlink.net MEMORANDUM TO: Mr. Roger White,Regional Mgr., Sage Community Group,Inc. Mr. Mark Schulz, CFO, Sage Community Group, Inc. Mr. Robert Smith, Sage Community Group,Inc. Mr. Steven M.Nelson, Senior Analyst, Sage Community Group, Inc. William P. Ankele, Jr., Esq. Mr. Don Taranto, PE Mr.Troy McWhirmey,McWhinney Enterprises FROM: Stan Bernstein DATE: August 27, 2004 SUBJECT: Third Draft —Financial Model—SMPG Metropolitan Districts#1 -#6 INTRODUCTION AND SCOPE Stan Bernstein and Associates,Inc. has assembled Financial Models for SMPG Metropolitan Districts#1 -#6 based upon key assumptions provided by officials of the Districts and of the primary developer of land within the boundaries of the Districts. The Financial Models were assembled in order to provide a conceptual understanding of the amount of non-rated general obligation bonds that could ultimately be issued by the SMPG Metropolitan Districts#2 through#6(Financing Districts)for the purpose of redeeming a series of notes issued by SMPG Metropolitan District#1 ("Service District") to the primary developer of land. It is important that officials of the District, the Developer, Don Taranto, PE, and William P. Ankele,Jr, Esq.,understand and feel comfortable with the key assumptions that the Financial Models are based upon. It is also important that all parties understand that Stan Bernstein and Associates, Inc. has not independently reviewed or evaluated these key assumptions. It is important that prior to the issuance of any non-rated bonds, the Districts' investment bankers do their own diligence with respect to future rates of buildout and assessed valuation within the Districts' boundaries. Memorandum August 27,2004 Page ii FUTURE RATES OF RESIDENTIAL AND COMMERCIAL BUILDOUT AND RELATED ASSESSED VALUATION-SCHEDULES 1 - 5, PAGES 26 -35 The financial planning concept is that as the construction of future residential and commercial real estate product occurs within the boundaries of SMPG Financing Metropolitan Districts#2 -#6("Financing Districts#1 -District#6"), incremental assessed valuation will generate property tax revenues for each of the Financing Districts. For financial planning purposes it is assumed that property tax revenues generated from approximately 10 mills of the total Financing Districts' #2,3,5, and 6 assumed 40 mill levy(3 mills of the total Financing District#4 assumed 12 mill levy) will be transferred to the Service District and used to pay operating and administrative costs. Property tax revenues generated from the remaining 30 mills(i.e., 9 mills for Financing District#4) are assumed to be available to pay the debt service associated with the following Financing Districts' assumed general obligation bond issues: Financing District#2 December 1, 2009 $8,500,000 Financing District#3 December 1,2012 $9,040,000 Financing District#4 December 1, 2019 $8,000,000 Financing District#5 December 1, 2015 $8,500,000 Financing District#6 December 1, 2018 $6,250,000 The key assumptions with respect to future residential and commercial buildout within the boundaries of Financing Districts#2-#6 are presented in detail on Schedules 1 —5 on pages 26 and 35. These assumptions were provided by officials of the Districts and the primary land developer. It is generally assumed that any increases in residential assessed valuation as a result of inflation will be offset by decreases in the residential assessment rate caused by The Gallagher Amendment, although the assessed valuation estimates do assume a net average annual inflationary increase of approximately 1% (2% biennially) above decreases in assessed valuation caused by Gallagher. The Financial Models are based upon a total of 4,000 residential units being completed by the end of 2017, and 3,060,000 square feet of non-residential space being completed by the end of 2029. Schedule 1 (Financing District#2) is based upon a total of 1,088 residential units with an average value of approximately$240,632 being completed by the end of 2010. Schedule 2 (Financing District#3)is based upon a total of 1,143 residential units with an average value of$220,278 being completed by the end of 2011. Schedule 3 (Financing District#4)is based upon a total of 3,060,000 square feet of non- residential space being completed by the end of 2029. Schedule 4(Financing District#5) is based upon a total of 998 residential units with an average value of$231,193 being completed by the end of 2014. Schedule 5 (Financing District#6) is based upon a total of 771 residential units with an average value of$221,555 being completed by the end of 2017. Memorandum August 27,2004 Page iii Mr. Roger White and Mr. Mark Schulz(officers of Sage Community Group, Incorporated)have carefully reviewed Schedules 1 -5 and believe the assumptions to be reasonable and appropriate to use for financial modeling purposes at this time. SMPG METROPOLITAN DISTRICT#1 -CASH FLOW-EXHIBIT I, PAGE 1 Exhibit I presents the estimated revenues and expenditures for SMPG Metropolitan District#1 ("Service District"). Key revenue sources include(i)an average one-time System Development Impact Fee assessed on each new residential unit and for each 4,000 square feet of non-residential space in the amount of$2,000; (ii) an average annual raw water user fee assessed on all completed residential units and on each 4,000 square feet of non-residential space in the amount of$150 per year, (iii) and Intergovernmental Transfers (pursuant to Intergovernmental Agreements between the Service District and each Financing District)of property taxes from Financing Districts#2 -#6 assumed to be approximately 10.00 mills for residential Financing Districts 2,3,5, and 6 and 3 mills for commercial Financing District 4. Operating and administrative expenditures (which Don Taranto, of TSTConsulting Engineers,believe to be reasonable and sufficient estimates) are presented on Exhibit I and include 5% annual increases above 2006 expenditure allowances. Raw water system operating expenditures are assumed to be 75%of raw water system revenues after 2008. It is also assumed that approximately 93% System Development Fee revenues ($8,886,000) are used to reimburse the primary land developer for infrastructure costs associated with the raw water system and/or for other infrastructure costs paid funded by the primary land developer pursuant to a Cost Recovery Agreement. Exhibit IA,page 4, presents a summary of TST Consulting Engineers' estimated infrastructure costs for Financing Districts#2 -#6. Exhibit IA indicates that in excess of 50%of the total estimated infrastructure costs in the amount of$52.75 million could be ultimately recouped from the issuance of general obligation bonds. In addition to the $27.45 million of recouped infrastructure costs, approximately$11.1 million of accrued interest(@ 7%compounded) from the date of construction of the infrastructure improvements for each Financing District to the date of the issuance of general obligation bonds for each Financing District could be paid to the primary land developer from general obligation bond proceeds. Exhibit I indicates that on December 1,2009 the first developer infrastructure note (issued to the primary land developer for capital improvements funded relating to Financing District#2 on December 1,2005 in amount of$6,225,000 and accreting in value[at 7%compounded interest] to approximately$8,160,000 by December 1,2009) could be refunded by non-rated general obligation bonds issued by Financing District#2. Memorandum August 27,2004 Page iv SMPG METROPOLITAN DISTRICT#1 -CASH FLOW-EXHIBIT I, PAGE I (CONTINUEDI Exhibit I also indicates that on December 1, 2012 the second developer infrastructure note(issued to the primary land developer for capital improvements funded relating to Financing District#3 on December 1,2008 in amount of$6,600,000 and accreting in value [at 7%compounded interest] to approximately$8,640,000 by December 1,2012) could be refunded by non-rated general obligation bonds issued by Financing District#3. Exhibit I indicates that on December I, 2015 the fourth developer infrastructure note (issued to the primary land developer for capital improvements funded relating to Financing District#5 on December 1, 2011 in amount of$6,225,000 and accreting in value[@ 7%compounded interest] to approximately$8,160,000 by December 1, 2015) could be refunded by non-rated general obligation bonds issued by Financing District#5. Exhibit I indicates that on December 1,2018 the fifth developer infrastructure note (issued to the primary land developer for capital improvements funded relating to Financing District#6 on December 1, 2014 in amount of$4,500,000 and accreting in value [@ 7%compounded interest} to approximately$5,899,200 by December 1, 2018) could be refunded by non-rated general obligation bonds issued by Financing District#6. Exhibit I indicates that on December 1, 2019 the third developer infrastructure note (issued to the primary land developer for capital improvements funded relating to Financing District#5 on December 1, 2009 in amount of$3,900,000 and accreting in value [@ 7%compounded interest)to approximately$7,680,000 by December 1,2019) could be refunded by non-rated general obligation bonds issued by Financing District#4. All revenue and expenditure assumptions have been carefully reviewed for reasonableness by officials of the District and the primary land developer. Memorandum August 27,2004 Page v SMPG FINANCING DISTRICT#2 -CASH now-EXHIBIT II, PAGE 5 Exhibit II presents the estimated cash flow of SMPG Financing District#2 ("Financing District#2)based upon the assumed rate of buildout presented on Schedule 1. The primary revenue source is a 40.00 mill levy of which 30.00 mills are assumed to be retained by Financing District#2 for payment of general obligation debt service, and approximately 10.00 mills are assumed to be transferred pursuant to the IGA to the Service District. The Series December 1,2009 general obligation bonds debt service schedule, and related debt to assessed value ratios,are also presented on this Exhibit. It is assumed that the Series 2009 general obligation bonds will be issued in the approximate amount of$8.5 million(costs of issuance in the amount of$340,000 have been assumed[4%of bonds]. Average interest rates of 6.5% and 25-year amortization have been assumed. SMPG FINANCING DISTRICT #3-CASH FLOW-EXHIBIT III,PAGE 9 Exhibit III presents the estimated cash flow of SMPG Financing District#3 ("Financing District#3)based upon the assumed rate of buildout presented on Schedule 2. The primary revenue source is a 40.00 mill levy of which approximately 30.00 mills are assumed to be retained by Financing District#3 for payment of general obligation debt service,and approximately 10.00 mills are assumed to be transferred pursuant to the IGA to the Service District. The Series December 1,2012 general obligation bonds debt service schedule, and related debt to assessed value ratios, are also presented on this Exhibit. It is assumed that the Series 2012 general obligation bonds will be issued in the approximate amount of$9.0 million(costs of issuance in the amount of$360,000 [4%of bonds] have been assumed. Average interest rates of 6.5%and 25-year amortization have been assumed. Memorandum August 27,2004 Page vi SMPG FINANCING DISTRICT#4-CASH FLOW-EXHIBIT IV, PAGE 13 Exhibit IV presents the estimated cash flow of SMPG Financing District#4 ("Financing District#4)based upon the assumed rate of buildout presented on Schedule 3. The primary revenue source is a 12.00 mill levy of which approximately 9.00 mills are assumed to be retained by Financing District#4 for payment of general obligation debt service, and approximately 3.00 mills are assumed to be transferred pursuant to the IGA to the Service District. The Series December 1, 2019 general obligation bonds debt service schedule, and related debt to assessed value ratios, are also presented on this Exhibit. It is assumed that the Series 2019 general obligation bonds will be issued in the approximate amount of$8.0 million(costs of issuance in the amount of$320,000 [4%of bonds] have been assumed. Average interest rates of 6.5%and 25-year amortization have been assumed. SMPG FINANCING DISTRICT#5-CASH FLOW-EXHIBIT V, PAGE 18 Exhibit V presents the estimated cash flow of SMPG Financing District#5 ("Financing District#5)based upon the assumed rate of buildout presented on Schedule 4. The primary revenue source is a 40.00 mill levy of which approximately 3000 mills are assumed to be retained by Financing District#5 for payment of general obligation debt service, and approximately 10.00 mills are assumed to be transferred pursuant to the IGA to the Service District. The Series December 1,2015 general obligation bonds debt service schedule,and related debt to assessed value ratios, are also presented on this Exhibit. It is assumed that the Series 2015 general obligation bonds will be issued in the approximate amount of$8.5 million(costs of issuance in the amount of$340,000 [4%of bonds] have been assumed. Average interest rates of 6.5%and 25-year amortization have been assumed. SMPG FINANCING DISTRICT#6-CASH FLOW-EXHIBIT VI, PAGE 22 Exhibit VI presents the estimated cash flow of SMPG Financing District#6 ("Financing District#6)based upon the assumed rate of buildout presented on Schedule 5. The primary revenue source is a 40.00 mill levy of which approximately 30.00 mills are assumed to be retained by Financing District#6 for payment of general obligation debt service, and approximately 10.00 mills are assumed to be transferred pursuant to the IGA to the Service District. Memorandum August 27,2004 Page vii The Series December 1, 2018 general obligation bonds debt service schedule, and related debt to assessed value ratios, are also presented on this Exhibit. It is assumed that the Series 2018 general obligation bonds will be issued in the approximate amount of$6.25 million(costs of issuance in the amount of$245,800 [4%of bonds] have been assumed. Average interest rates of 6.5%and 25-year amortization have been assumed. DISCLAIMER AND LIMITATIONS The Financial Models were assembled by Stan Bernstein and Associates, Inc. based upon key assumptions provided by officials of the Districts and the primary developer of land within the boundaries of the Districts. Stan Bernstein and Associates has not independently evaluated or reviewed these key assumptions and,consequently,does not vouch for the acheivability of the information presented on Exhibits I—VI or on Schedules 1 - 5. Furthermore,because of the inherent nature of future events,which are subject to change and variation as events and circumstances change,the actual results may vary materially from the results presented on Exhibits I—VI and on Schedules 1 - 5. Stan Bernstein and Associates,Inc. has no responsibility or obligation to update this information or these Financial Models for events occurring after the date of this memorandum. For example the actual amount of general obligation bonds that could be issued by the Financing Districts will depend the rate of buildout and the related increases in assessed valuation, interest rates, and the actual money needed to pay for administrative and operating expenses. EXHIBIT I(SERVICE DISTRICT) PPG METROPOLITAN DISTRICT II CASH FLOW FORECASTS WORKING DRAFT.AUGUST 27,2004 FOR THE YEARS ENDING DECEMBER 31,2004 THROUGH 2025 PRELIMINARY,SUBJECT TO CHANGE 2004$•UNWFLATED • $EYASSUMPTION$ 2444 1921 264 . 2291 3491 2992 2434 2211 2112 2111 2214 2911 2911 ASSESSED VALUATION Q 1.26 146 1.26 4.64 44102 1494 1269 6904. 22994 5,96 4.96 1.60 MILL LEVY(ONLY 12 MILLS FOR COMMERCIAL DISTRICT 04) 2.6 ,42&9 40.00 52.24 40.00 4212 416 4212 40.22 516 1292 40.90 42.22 SYSTEM DEVELOPMENT FEE PER RESIDENTIAL UNIT(AVERAGE) 2,992 $,222 24229 24929 2 222 2,299 2,112 2,[92 2.292 2.924 2 29 2.929 2,{422 RAW WATER FEES PER RESIDENTIAL UNIT(AVERAGE ANNUAL) 112 112 112 112 119 112 112 1t4 144 144 119 112 312 INCREMENTAL RESIDENTIAL UNITS ADDED 9 9 221 393 174 111 320 3ffi 321 312 151 252 249 CUMULATIVE RESIDENTIAL UNITS 4 2 221 114 222 1510 1453 2231 2,112 2183 1„222 3422 3]39 INCREMENTAL SQUARE FEET OF NONRESIDENTIAL SPACE 9 2 2 Q Q 9 121,992 125000 1119999 150.20 175000 252.222 729,994 CUMULATIVE SQUARE FEET OF NONRESIDENTIAL SPACE 2 9 9 2 2 9 17120 250 009 444922 122.949 121.292 975 000 1215.22 CASHf1QW BFVENUFS 2924 2221 2toi 2.422 224.4 2201 2119 2211 2212 2211 2414 2215 2912 PROPERTY TAXES 12 125 125 125 125 126 125 125 125 125 125 125 SPECIFIC OWNERSHIP TAXES 0 5%OF PROPERTY TAXES 5 8 8 8 6 6 6 6 8 6 2 MA TRANSFERS FROM SMPG MD/2.10 MILLS 1,000 2500 11.600 67,135 118,754 173.309 211,018 218511 215.619 221,155 221,155 225,578 IGA TRANSFERS FROM @MPG MD 92.10 MILLS 0 1,000 2,500 11,832 90,556 149,931 208,512 212,883 212,883 218,938 IGA TRANSFERS FROM SMPG MD M•31MLL5(COMMERCIAL DIST) 0 0 300 760 3,550 11,993 20,366 31,275 41,777 55,326 IGA TRANSFERS FROM SMPG MD IS.10 MILLS 0 0 0 0 1,000 2,500 12,069 87,798 140,484 198.502 IGA TRANSFERS FROM MPG MD 06.10 MILLS 0 0 0 0 0 0 0 1,000 2,500 12,556 TRANSFER OF NET G.O.BOND PROCEEDS FROM SMPG MD 24 0 0 8,180,000 0 0 8640.000 0 0 5,180,000 0 SYSTEM DEVELOPMENT FEES a$2,000IRESIDENTIAL UNIT(AVE) 44632 728000 672,000 1,072.000 772,000 774,000 060,000 064,000 082,000 498,000 518,02 SYSTEM DEVELOPMENT FEES•NONRESIO.SO.FT.(I per 4,000) 0 0 0 62,500 62,500 75,000 75,000 87.500 125,000 150,000 RAW WATER FEES•RESID.02160NEAR(AVERAGE) 0 33.45 87,900 135,300 216,700 276,500 334,650 383.400 433200 484,350 521,700 RAW WATER FEES•COMMERCIAL C$150/YEAR PER 4,000 00.FT. 0 0 0 0 4,585 9,375 15.02 20,626 2],186 36,583 WATER METER SALES 0$10,000 PER YEAR ALLOWANCE 10,000 10,000 10,000 10,000 10,000 10,000 10,000 10,000 10,02 10,000 10,000 INTEREST EARNINGS 0 2%OF BEGINNING FUNDS 22 1444 1.617 2.203 292 9444 1.666 5,144 1299 14588 21124 TOTAL REVENUES 1.131 458654 202,21 032291 9.104269 1 250 091 1,435,144 19192224 1 009 057 1796.021 1$31$11 1985271 FXPFNTIIRFSj4%INCRFagp1J M CONSULTING S STUDIES 3,500 3,780 3,969 4,187 4.376 4,595 4,624 5,02 5,319 5,585 5,864 ACCOUNTING S AUDIT 3,000 3,150 3,308 3,473 3,647 3,829 4,020 4,221 4,432 4,654 4,867 UTILITIES FOR WATERILANDSCAPE 20,000 21,000 22,050 23,153 24,310 25,526 28802 28,142 29,549 31,027 32,578 LANDSCAPING/OPEN SPACE MAINTENANCE ALLOWANCE 75,000 78,750 62,686 88.822 91,163 95,721 100,507 105,533 110,809 116,350 122,107 INSURANCE 6,000 6,300 6,615 6.946 7,293 7,650 8,041 8443 8,865 9,308 9,773 LEGAL ENGINEERING&PROFESSIONAL 25,000 26250 27,563 28,941 30,388 31,907 33,502 35,178 30,938 38,783 40722 MISC.OFFICE OVERHEAD&BILLING 20,000 21,000 22,050 23153 24,310 25,526 28002 28,142 29,549 31,027 32,576 WATER EXPENSE 427S%Of REVENUES AFTER 2000 0 33,450 87,900 103.725 164.02$ 210,966 258019 298.800 340,389 383,053 418,897 OPERATING AND ADMINISTRATIVE COMING ALLOW(4,10%/YR) 50,000 55,000 60.500 65,550 73205 80,528 88,678 97,436 107.179 117.897 128687 ANNUAL CAPITAL OUTLAY NOT FUNDED BY DEVELOPER 2 2 9 Q 2 22.492 12.12 56 124 17_.141 29521 43114 TOTAL EXPENDITURES 222.444 24/222 212 542 346929 422 714 171252 29+191 999994 230222 290152 02187 EXCESS OPERATING REVENUES 4 BONDS OVER EXPENDITURES 1171 214.214 533.491 521341. 1147.340 027 324 998 436 9 498 699 943 773 1 064 111 9,112 757 1 104 509 REDEMPTION OF DEVELOPER NOTES(BONDS)OUTSTANDING 9 2 9 2 (1460.000 9 2 0.454.444 4 2 412000 Q REPAYMENTS TO DEVELOPER FOR RAW WATER IRRIGATION SYS. 9 200 009 500009 500000 107202 034509 83652 725 009 739 000 789500 427.994 966 009 BEGINNING FUNDS AVAILABLE-JANUARY 1 9 1111 52.181 6.122 114-171 39,512 32.394 91.32! 224.211 432 761 728421 1084,174 ENDING FUNDS AVNLASLE•DECEMBER 31 111,1 57125 6.434 122)1 32.112 32.349 94.3324 222915 417 781 728 421 1 084 174 1122.041 NOTE 1•SMPO MD 02 DEV.NOTES OUTSTANDING(47%COMP INT) 5,225002 9.500750 7127.61 2.021093 6 100 29 2 9 2 2 9 9 4 NOTE 2•SMPG MD03 DEV.NOTES.OUTSTANDING(+7%COMP IM) 9 9 9 20294292 7053000 7115,349 1,963224 2240 022 2 2 2 9- NOTE 3-S14PG MD94DEV.NOTES OUTSTANDING(47%COMP WTI 2 9 9 2 392009 4.17324 4465110 477721 9432194 5142542 1412,149 9762544 NOTE 4.!IMPS MD 06 BEV.NOTES OUTSTANDING(47%COMP INT) 2 2 9 2 2 9 4228009 0144.491 2 NOTES-SMPG MD95DEV.NOTES OUTSTANDING(4F%COW INT) 2 2 2 4 9 9 9 892.79 X27902 4fiT500009 5,41162 1452019 See Consultant's Report and Disclaimer Exhibit C-FInandri Plan(NNAL).tls 5/30/04 10:02 AM EXHIBIT I(SERVICE DISTRICT) 5MPG METROPOUTAN DISTRICT 01 CASH FLOW FORECASTS FOR THE YEARS ENDING DECEMBER 31,2004 THROUGH 2029 20045•UNINFLATED HEY ASSUMPTIONt 2212 291! 2212 2222 2221 2222 2221 Si 2223 222! 2422 2925 222! ASSESSED VALUATION 5929 522 1992 3229 19.1{1 9,222 £229 £929 2222 2999 5.200 1222 1.222 MILL LEVY(ONLY 12 MILLS FOR COMMERCIAL DISTRICT 44) 4900 4022 4292 42,91 42.09 3922 4009 49,09 44.29 40.99 42.22 49,99 3222 SYSTEM DEVELOPMENT FEE PER RESIDENTIAL UNIT IAVERAGE) 2229 2,912 2429 2.294 2.222 2292 2.9.9 2929 2.299 2.992 2.922 2.292 22➢2 RAW WATER FEES PER RESIDENTIAL UNIT(AVERAGE ANNUAL) 119 150 322 154 152 159 122 122 159 154 139 114 154 INCREMENTAL RESIDENTIAL UNITS ADDED 254 4 2 4 9 2 2 9 2 9 2 9 2 CUMULATWE RESIDENTIAL UNITS 3224 3244 3222 4000 3.429 3221 3229 3,922 5.419 3294 3222 4.999 4999 INCREMENTAL SQUARE FEET OF NONRESIDENTIAL SPACE 121992 122292 121000 17192 171229 115292 121299 175 009 129.292 129929 344.¢72 124224 122992 CUMULATIVE SQUARE FEET OF NONRESIDENTIAL SPACE 1 400 000 1.521 000 1.@59422 1,00M 2300 009 2.171920 2319.929 2.521929 2921222 2725000 2.924.992 2 924 000 2299.229 ¢ASH now BSVEMJEII 2212 2911 221E 2222 2221 2222 2421 2924 2225 .2224 2221 2224 242E PROPERTY TAXES 125 125 125 125 125 125 125 125 125 125 125 125 125 SPECIFIC OWNERSHIP TAXES @I%OF PROPERTY TAXES 6 8 6 6 6 6 6 8 6 0 8 6 6 IGA TRANSFERS FROM SMPG MD 02.10 MILLS 225,578 230,090 230,090 234,601 234,691 239.385 239,385 244,173 244,173 246056 249.056 254,038 254,038 IGA TRANSFERS FROMSMPO MD LS•10 MILLS 216,938 221,275 221.275 225,700 225.700 230,214 230,214 234,819 234,819 236750 239.750 244,545 244,545 IGA TRANSFERS FROM SMPG MD 04.3 LOLLS(COMMERCIAL DIST) 73,572 07,738 106,141 118637 125,409 140,410 152,902 188,701 181,443 198,069 203.267 212,835 217,938 IGA TRANSFERS FROM SMPG MD la.10 MILLS 198,802 202,778 202,778 208.833 208,833 218970 210970 215,189 215.109 219,493 216493 223,883 228,381 IGA TRANSFERS FROM SMPG MD 08•10 MILLS 72,353 111,251 150,124 150.124 153,126 153,128 150,189 158,160 159.312 159,312 182,490 182,499 165,749 TRANSFER OF NET 0.0.BOND PROCEEDS FROM SMPO MD 2.9 0 5,899.200 7.600,000 0 0 0 0 0 0 0 0 0 0 SYSTEM DEVELOPMENT FEES @ 32,000/RESIDENTIAL UNIT(AVE) 528,000 0 0 0 0 0 0 0 0 0 0 0 0 SYSTEM DEVELOPMENT FEES•NONRESID.SQ FT.(1 per 4,000) 62.500 82,500 62,500 87,500 87,500 87,500 87,500 87,500 50,000 50,000 50.000 50,000 61,500 RAW WATER FEES•RESID.@$160IYEA R(AVERAGE) 580,400 600,000 600,000 600,000 800.0(10 800,000 600,000 500,000 600,000 800,000 800,000 600,000 600,000 RAW WATER FEES'COMMERCIAL 0$150/YEAR PER 4,000 SQ.FT. 47.813 52,500 57.188 61,875 68.438 75,000 81,563 88,125 94,588 98,438 102,188 105.038 106668 WATER METER SALES 0310,000 PER YEAR ALLOWANCE 10,000 3,000 3,000 3,000 3,000 3,000 3.000 3,000 3,000 3,000 3,000 3,000 3,000 INTEREST EARNINGS @ 2%OF BEGINNING FUNDS 20.454 54.424 52212 22.824 75862 57553 99 257 319059 121 067 132 833 142353 113292 ..929.,42 TOTAL REVENUES 2,026 535 7,521 099 938522@ 1 750 610 176060@ 1 827 290 1882.119 1 908 487 1 904 727 1 950 082 1972835 2099960 2919499 FXPFNr3ITI IRPS 15%IHCRFA1F3) CONSULTING&STUDIES 8157 8,485 6,788 7.128 7.484 7,858 8,251 8,664 9,097 9,552 10.029 10,531 11,057 ACCOUNTING L AUDIT 5.131 5,388 5,857 5,940 6,237 6.549 8,878 7.320 7,581 7,960 8,356 8,778 9,215 IRIUTIES FOR WATERILANDSCAPE 34,207 35,917 37,713 39,599 41,579 43.657 45,840 48.132 50,539 53,088 55.719 58,505 81,430 LANDSCAPING/OPEN SPACE MAINTENANCE ALLOWANCE 128275 134,589 141,424 148.495 155,920 103,718 171,901 160,498 189.521 198,997 208.947 219,395 230,384 INSURANCE 10282 10,775 11,314 11,880 12,474 13,097 13,752 14,440 15,162 15,920 18718 17,552 18429 LEGAL ENGINEERING a PROFESSIONAL 42,758 44,890 47,141 49,498 51,973 54,572 57,300 80,165 83,174 88,332 09649 73,132 78,788 MISC.OFFICE OVERHEAD a BILLING 34,207 35.917 37,713 39,590 41,579 43,057 46,840 48,132 50,539 63,068 55.719 58,505 61,430 WATER EXPENSE @75%OI REVENUES AFTER 2009 456,159 489,375 492,891 498,408 501,328 508250 511,172 516,094 521,018 523,820 628.841 529,453 532266 OPERATING AND ADMINISTRATIVE CONTING ALLOW(+10%/YR) 142,856 158,921 172,814 169,875 208,682 229.749 252,724 277,996 305,705 338,375 370.012 407,014 447,715 ANNUAL CAPITAL OUTLAY NOT FUNDED BY DEVELOPER 47005 72255 73873 Mal 21445 45.511 t8.222 $4.202 22192 122245 309 144 114 601 120 331 TOTAL EXPENDITURES 221118 299.699 1.077 127 1 065 981 1108860 1154922 1.243450 1245922 3311422 1 369 043 1410914 1497461 1,49902@ EXCESS OPERATING REVENUES&BONDS OVER EXPENDITURES 1099.721 5339392 5.335 111. 055231 671 817 072 685 857.660 552065 522.292 081 04Q 541293 511325 484 484 REDEMPTION OF DEVELOPER NOTES(BONDS)OUTSTANDING 9 1198222 7.662092 2 9 4 9 9 9 9 1 2 2 REPAYMENTS TO DEVELOPER FOR RAW WATER IRRIGATION SYS. 529.592 52342 02102 52.599 52.592 02.192 29.542 22.192 54294 59229 52000 52229 12192 BEGINNING FUNDS AVAILABLE•JANUARY 1 1522665 2221.295 2600600 5.182.215 3221332 4 377 66 498283 5 532 99 2280.35* 664165 7 177 69 7.66460 0127.095 ENDING FUNDS AVAILABLE•DECEMBER 31 7 031 905 2800505 3.185212 279354 4377 581 496263 5 552 99 559%35 ee41656 7 172 69 7,06460 032709 0.644.062 NOTE 1•SMPG MO L2 DEV.NOTES OUTSTANDING(47%COMP INT) 9 2 2 9 2 9 NOTE 2•SMPG MD 03 DEV.NOTES OUTSTANDING(+7%COMP SIT) 9 Q 2 9 2 Q NOTE 3•SNP()MD 04 DEV.NOTES OUTSTANDING H7%COMP INT) !30092@ 7989991 7580000 9 9 2 NOTE 4.5MPG MD 05 DEV.NOTES OUTSTANDING(e7%COMP INT) 9 9 2 2 9 9 NOTE 5•SMPG MD 86 DEV.NOTES OUTSTANDING(+7%COMP INT) 5512.48.3 1399 200 2 2 Q 2 See C2nsu4Ones Reywt and Disclaimer 2 Exhibit C-Rnendr0 Plan(FINAL).xls 8/30/04 10:02 AM EXHIBIT I(SERVICE DISTRICT) SMPO METROPOLITAN DISTRICT 41 CASH FLOW FORECASTS ., FOR THE YEARS ENDING DECEMBER 31,2004 THROUGH 202E 2004$•UNINFLATED I(FY 4SSUMPDONj Q.OTALS ASSESSED VALUATION MILL LEVY(ONLY 12 MILLS FOR COMMERCIAL DISTRICT NI SYSTEM DEVELOPMENT FEE PER RESIDENTIAL UNIT(AVERAGE) RAW WATER FEES PER RESIDENTIAL UNIT'AVERAGE ANNUAL) INCREMENTAL RESIDENTIAL UNITS ADDED SRQQ CUMULATIVE RESIDENTIAL UNITS },Q9Q INCREMENTAL SQUARE FEET OF NONRESIDENTIAL SPACE Q,000,{MQ CUMULATIVE SQUARE FEET OF NONRESIDENTIAL SPACE IA= MBNA ow REVENUES TOTAl5 PROPERTY TAXES 3,125 SPECIFIC OWNERSHIP TAXES O 5%OF PROPERTY TAXES 155 IGA TRANSFERS FROM SMPG MD in•10 MILLS 4,615.365 IGA TRANSFERS FROM SMPG MD N•10 MILLS 4,116.175 IGA TRANSFERS FROM SMPG MD N-3 MILLS(COMMERCIAL DIST) 2,150,396 IGA TRANSFERS FROM SMPG MD 55.10 MILLS 3,204,203 IGA TRANSFERS FROM SMPG MD N•10 MILLS 1.92],908 TRANSFER OF NET G.O.BOND PROCEEDS FROM SMPG MD 2•e 36,639,200 SYSTEM DEVELOPMENT FEES O$2,000IRESIDENTML UNIT(AVE) 6,000,000 SYSTEM DEVELOPMENT FEES•NONRESID.SQ.FT.Cl per 4,000) 1,530,000 RAW WATER FEES•REBID.O$1501YEAR(AVERAGE) 10,072,650 RAW WATER FEES•COMMERCIAL O$1501YEAL PER 4,000 SQ.FT. 1,156,675 WATER METER SALES 0$10,000 PER YEAR ALLOWANCE 156.000 INTEREST EARNINGS O 2%OF BEGINNING FUNDS 1 132 612 TOTAL REVENUES 72 814.68Q FXPFNOITI IRFS J4%NMRFASF11 CONSULTING A STUDIES 160,207 ACCOUNTING 8 AUDIT 133,505 UTILITIES FOR WATER/LANDSCAPE 890,040 I NDSCAPING/OPEN SPACE MAINTENANCE ALLOWANCE 3.337,540 INSURANCE 267,012 LEGAL ENGINEERING S PROFESSIONAL 1.112,550 MISC.OFFICE OVERHEAD 8 BILLING 890,040 WATER EXPENSE 075%OI REVENUES AFTER 2008 8.902,481 OPERATING AND ADMINISTRATIVE COATING ALLOW I+10%/YR) 4.424.686 ANNUAL CAPITAL OUTLAY NOT FUNDED BY DEVELOPER 1„526,050 TOTAL EXPENDITURES 21 646 all EXCESS OPERATING REVENUES S BONDS OVER EXPENDITURES 55.909.252 REDEMPTION OF DEVELOPER NOTES(BONDS)OUTSTANDING 385+990 REPAYMENTS TO DEVELOPER FOR RAW WATER IRRIGATION SYS. HALM BEGINNING FUNDS AVAILABLE•JANUARY 1 Q ENDING FUNDS AVAILABLE•DECEMBER 31 S 544 92 NOTE I•SMPG MO#2 DEV.NOTES OUTSTANDING 1+7%COMP INT) NOTE 2•SMPG MD N DEV.NOTES OUTSTANDING(+7%COLS'INT) NOTE i•SMPG MD N DEV.NOTES OUTSTANDING(+7%COMP M) NOTE 4•SMPG MD 95 DEV.NOTES OUTSTANDING(+7%COMP INT) NOTE 5•SMPG MO N DEV.NOTES OUTSTANDING 1+7%COMP INT) See Consultants Report and DidalmM 3 E4Odt C-Financing Han(FlNA).tls 8/30/04 10:02 AN EXHIBIT IA(SERVICE DISTRICT) SMPG METROPOLITAN DISTRICT 01 CASH FLOW FORECASTS FOR THE YEARS ENDING DECEMBER 31,2004 THROUGH 2014 20043•UNINFLATED SCHEDULE OF CAPITAL IMPROVEMENTS MD FUNDING SOURCE$ SMPG SMPG SMPG SMPG SMPG SUMMARY OF COSTS(SOURCE:TST,INC.CONSULTING ENGINEERS): DISTRICT 02 DISTRICT 03 DISTRICT 04 DISTRICT PS DISTRICT 06 2442 244E 244E 29.1 2419 IS2.T..9.1.2 OFFSIE IMPROVEMENTS 10,963,280 8,825,750 8,698,560 6,329,700 6.582,480 39,399,750 ONSITE IMPROVEMENTS 5.601.100 2 172 980 1 486 08Q 1 749 60Q 2341.440 13.351 260 TOTAL IMPROVEMENTS 16 564 44Q p 998 71Q 10 154 644 5079.300 4.423.924 59751010 FUNDING SOURCES: DEVELOPER CONTRIBUTIONS 10.339,440 2,398,710 6,284,840 1,854,300 4,423,920 25,301,010 47.96% DEVELOPER NOTES PAYABLE(m 7%COMPOUNDED) 5.225.044 4.494.400 39M1000 5.225.444 9.500,400 27450000 52,4'8(4 TOTAL FUNDING SOURCES 18 564 440 6998710 10164.64Q 4979300 9923.2Q 52.751.012 10000'% See Consultant's Report and Disclaimer 4 ExNlblt C-Financing Man(FINAL).xls8/30/0410:02 AM EXHIBIT H(FINANCING DISTRICT) SMPG METROPOLITAN DISTRICT S2 CASH FLOW FORECASTS•DEBT SERVICE FUND WORKING DRAFT,AUGUST 27,2004 FOR THE YEARS ENDING DECEMBER 31,2004 THROUGH 2074 PRELIMINARY,SUBJECT TO CHANGE gYASSUMPTK)NQ 2421 2441 2494 2492 244! 299E 2212 2411 2912 2219 2414 ASSESSED VALUATION(SCH.1) 4 12929 259.E 1 180 000 1713 499 11875414 17 338 914 21 101 841. 21 681 881. 21881881 22115.49Q BELL LEVY 9.99 4229 44.99 12.99 4000 40.2 40.00 4299 40.02 40.92 40.2 INCREMENTAL RESIDENTIAL UNITS ADDED 9 9 223 323 339 191 9 9 2 9 9 CUMULATIVE RESIDENTIAL UNITS 9 2 229 991 222 1,992 1080 1982 1.088 1.044 11914 INCREMENTAL SQUARE FEET OF NONRESIDENTIAL SPACE 9 9 2 4 2 2 2 2 4 2 9 CUMULATIVE SQUARE FEET OF NON-RESIDENTIAL SPACE 9 9 9 2 9 2 9 2 2 9 9 DASH FLOW 119VENUEQ 2441 2921 294! 2242 2242 242! 2212 2211 2212 2472 2214 PROPERTY TAXES 0 4,000 10,000 46,400 268,540 475.017 693.557 844,068 887,274 867,274 884,620 SPECIFIC OWNERSHIP TAXES @5%OF PROPERTY TAXES 0 200 500 2,320 13,427 23,751 34,578 42,203 43,384 43,384 44,231 GENERAL OBLGATION BOND ISSUES(NON-RATED) 0 0 0 0 0 5,500,000 0 0 0 0 0 INTEREST EARNINGS @ 2%OF BEGINNING FUNDS 9 9 92 192 19,5 9.922 12.422 10.484 9.232 9.138 9.929 TOTAL REVENUES 4 4200 10.562 44.917 292242 9003.796 740.659 898.753 924.22) 919 775 97746$ FXPENDITIIRF( COUNTY TREASURER 3,0%COLLECTION FEE 0 120 300 1,392 8,058 14,250 20,27 25.322 26.018 26,018 28,539 ACCOUNTING B AUDIT 0' 0 1,000 1,000 1.000 1,000 1,000 1,000 1,000 1,000 1,000 IGA PAYMENT TOSMPG MD 81(SERVICE DISTRICT)@ 10 MILLS 9 1.222 2.549 111144 67.139 116754 ,123.211 311014 216 519 21861Q 221155 TOTAL EXPENDITURES EXCLUDING DEBT SERVICE 9 1.120 3 80Q 13.992 76191 134.2@ 195 195 237 339 243 837 243 837 248 694 GENERAL OBLIGATION BONDS DEBT SERVICE: SERIES 12/1/200818,500,090 @ 83% INTEREST @ 8,5% 0 0 0 0 0 0 552,500 546,650 536,575 525,850 514,475 PRINCIPAL REDUCTION Q 2 9 9 9 9 29,4.2 155049 165.000 175000 1182.219 TOTAL DEBT SERVICE 2 9 4 9 2 2 9!2,449 701.65Q 701.675 700.850 704 475 O.O.BONDS OUTSTANDING @ 12/31 9 2 9 9 9 8.500.02 9.910 00Q 9 255 000 8290 02 7.919.020 2725 00Q TRANSFER TO SMPG MD 01 FOR DEVELOPER NOTE REDEMPTIONS 0 9 9 9 9 8 12 000 4 2 9 9 4 2 COSTS OF BOND ISSUANCE(ESTIMATED @ 4%) 2 2 2 2 9 142.214 9 9 2 9 2 TOTAL EXPEND INCLUDE DEBT SERVICE&NOTE REDEMPTIONS Q 1.129 2,199 12.992 76191 9.124.445 937 694 922999 245.112 944 68Z 953189 EXCESS REVENUES B BONDS OVER EXPENDITURES 9 2292 1.712 21229 246 671 299.242 (97 0371 1422261 (25.1251 124 9121 (15 879) BEGINNING FUNDS AVAILABLE•JANUARY) Q 9 1020 1,942 44.768 251437 921,222 521112 441.956 456672 431.910 ENDING FUNDS AVAILABLE•DECEMBER 31 9 2929 9.142 44 784 251 437 621.222 521192 481 955 456 87Z 431 910 416.22 RESTRICTED CAPITALIZED INTEREST 9 2 9 4 9 4 4 9 9 9 9 UNRESTRICTED 9 5.OB0 mu 44 7M 251432 92.222 521.192 481 956 458 622 431 914 416 23Q TOTAL GA,BONDS OUTSTANDING @ 12/31 0 0 0 0 0 8,500,000 8,410,000 8,255,000 8,090,000 7,915,000 7,725,000 G.O.BONDS OUTSTANDING/ASSESSED VALUE 0.00% 0.00% 0.00% 0.00% 0.00% 49.02% 39.85% 38.07% 37.31% 35.79% 34.93% See Consultant's Report and Disclaimer S EMS*C-Financing Plan(FINAL)els 8/30/04 1@02 AM EXHIBIT II(FINANCING DISTRICT) SMPG METROPOLITAN DISTRICT 52 CASH FLOW FORECASTS• DEBT SERVICE FUND FOR THE YEARS ENDING DECEMBER 31,2004 THROUGH 203 KEY ASSUMPTIONS 221E 291E 2212 241E 291E 2929 2221 2922 2921 2924 2921 222@ ASSESSED VALUATION(SCH.1) 22,115 494 72.5780@ 22 557 804 21.448.994 22402964. 23454149 234691/3 7193852@ 23938 575 24 417 297 74417297 24.905244 MILL LEVY 4000 4904 4212 4982 42.42 4499 40.00 40.92 49.92 4222 99.92 4292 INCREMENTAL RESIDENTIAL UNITS ADDED 2 2 2 2 4 2 4 2 2 2 2 2 CUMULATIVE RESIDENTIAL UNITS 12@1 12141 1299 12148 1289 1008 IMO 1288 1.096 £2W 1tBB1 19@2 INCREMENTAL SQUARE FEET OF NONRESIDENTIAL SPACE 2 0 2 2 9 0 2 2 2 2 2 2 CUMULATIVE SQUARE FEET OF NON-RESIDENTIAL SPACE 2 2 2 2 2 2 2 2 2 2 2 2 ;ASH FLOW )1EVENUE2 221E 1211 2411 2411 291E 2422 2921 1222 2421 2924 2921 242E PROPERTY TAXES 884,620 902.312 902,312 920,359 920,359 938,766 938.766 957,541 957,541 976,692 976,692 996,226 SPECIFIC OWNERSHIP TAXES 05%OF PROPERTY TAXES 44.231 45.118 45,116 46,018 46,018 46,938 46,93 47.677 47.977 48,835 48,835 49.611 GENERAL OBLIGATION BOND ISSUES(NON•RATED) 0 0 0 0 0 0 0 0 0 0 0 0 INTEREST EARNINGS 02%OF BEGINNING FUNDS 8.12@ 2982 2129 2114 2412 9.731 2299 @.221 10 872 11 771 13014 14239 TOTAL REVENUES 21212@ 955 420 055 534 974 511. 974.814 994,45@ 295.093 1 015 409 1.016 290 1 097 299 1 036 543 1 060 274 EXPENDITURE,' COUNTY TREASURER 3.0%COLLECTION FEE 26,539 27,069 27,069 27,611 27.611 28,163 28,183 28,726 28,726 29,301 29,301 291387 ACCOUNTINGS AUDIT 1,000 1,000 1,000 1,000 1,000 1,000 1,000 1,000 1,000 1,000 1,000 1.000 NIA PAYMENT TO SMPG MD 91(SERVICE DISTRICT)0 10 MILLS 221195 228.92@ 228.82@ 212924 230 090 234 691, 234 691 219.222 232121 244 174 344 173 249958 TOTAL EXPENDITURES EXCLUDING DEBT SERVICE 242.293 281.242 251242 258 704 358 700 7611,54 221.254 269111 269111 274 474 274.474 279 941 GENERAL OBLIGATION BONDS DEBT SERVICE: SERIES 12/1/2009$8,500,000 0 5.5% INTEREST 08.5% 502,125 489,125 475,475 460,850 445,250 428,675 411,125 392,275 372,125 350,675 327,925 303.550 PRINCIPAL REDUCTION 292022 210.000 225000 240000 255.000 222.992 390004 310000 332442 350200 ,37@122 400000 TOTAL DEBT SERVICE 242125 599.171 700474 700 85@ 700 254 29887E 221.125 707 275 292125 700 625 222.228 241.5`2 G.O.BONDS OUTSTANDING 012/31 2525.444 1.31829 1990000 2.250.900 2.595.000 2.128.044 6035,004 2725000 5 395 000 5945000 4 670 000 4 270 00Q TRANSFER TO SMPG MD 81 FOR DEVELOPER NOTE REDEMPTIONS 2 2 2 2 2 9 2 2 2 2 2 0 COSTS OF BOND ISSUANCE(ESTIMATED 0 4%) 2 4 2 2 2 2 2 2 2 2 2 2 TOTAL EXPEND INCLUDE DEBT SERVICE S NOTE REDEMPTIONS 95081@ 952 112 299.]22 959.554 959950 992322 994.97E 971386 971 234 97514@ 972,122 223 493 EXCESS REVENUES S BONDS OVER EXPENDITURES (13 6431 2142 1411 14.222 15,92 31.925 39414 44921 45053 $2121 81144 76,7142 BEGINNING FUNDS AVAILABLE•JANUARY 1 418230 402 587 405 294 498122 421 68@ 437 525 422984 989.894 843 587 588 640 22121 711 931 ENDING FUNDS AVAILABLE•DECEMBER 31 402 587 495,294 408 704 421 664 137525 469150 499 561 545.587 525. 42 650791 711 931 768.717 RESTRICTED CAPITALIZED INTEREST 2 2 2 2 2 2 2 2 ' 2 2 2 2 UNRESTRICTED 402 567 405.294 406.706 421964 131322 469 450 489.524 11,•587 222144 550 791, 711 934 788.717 TOTAL G.O.BONDS OUTSTANDING*12131 7.525,000 7,315,000 7,090,000 6,850,000 6,595,000 6,325,000 6,035,000 5,725,000 5.395,000 5,045,000 4,670,000 4,270.000 G.O.BONDS OUTSTANDING/ASSESSED VALUE 33.36% 32.43% 30.61% 29.77% 28.10% 26.95% 25.21% 23.92% 22.09% 20.68% 18.75% 17.14% See Consultants Report and Disclaimer 6 Exhibit C•Financing Plan(FINAL)45 8/30/04 10:02 AM EXHIBIT II(FINANCING DISTRICT) SMPG METROPOLITAN DISTRICT 82 CASH FLOW FORECASTS• DEBT SERVICE FUND FOR THE YEARS ENDING DECEMBER 31,3004 THROUGH 2034 ((FYASSIIMPTIONS 2221 222! 222! 2234 2221 2932 2411 2211 TOTALS ASSESSED VALUATION(SCH.1) 249'/,5 641 25.403758 25.403.756 25911.631 25911631 26 430 067 22.430061 22.232.629 MILL LEVY 4494 19.96 1994 1992 44.22 19.44 44.44 49.94 INCREMENTAL RESIDENTIAL UNITS ADDED 9 9 2 9 9 9 9 2 1922 CUMULATIVE RESIDENTIAL UNITS 1286 14M 1291 1.992 ],269 £224 198 1.088 WM INCREMENTAL SQUARE FEET OF NON-RESIDENTIAL SPACE 0 2 2 2 9 2 2 2 2 CUMULATIVE SQUARE FEET OF NONRESIDENTIAL SPACE 9 2 2 2 9 9 9 9 2 PASN FLOW RUPNI1F5 2221 222! 293! 334 2211 2222 2922 2924 TOTAL@ PROPERTY TAXES 998226 1,018,150 1,016.150 1,036.473 1,036,473 1,057,203 1.057.203 1,078.347 24.527.157 SPECIFIC OWNERSHIP TAXES®5%OF PROPERTY TAXES 49.811 50,808 50,808 51,824 51,824 52,860 52.860 53,917 1,226,358 GENERAL OBLIGATION BOND ISSUES(NONRATED) 0 0 0 0 0 0 0 1 8,500001 INTEREST EARNINGS C 2%OF BEGINNING FUNDS 15774 17,361 19.319 2134Q 23.¢12 22J12 28.761 11.392 11912,9 TOTAL REVENUES 1061811 1 084 316 1 088 294 1 109 637 1 111 91@ 1 136 074 1138,644 1161,927 31.612,994 pXPFNDITIIRRI COUNTY TREASURER 3.0%COLLECTION FEE 29,887 30,485 30,485 31.094 31,094 31,718 31,716 32,350 735,815 ACCOUNTING&AUDIT 1,000 1.000 1,000 1,000 1,000 1,000 1,000 1,000 29,000 IGA PAYMENT TO SMPG MD 91(SERVICE DISTRICT)@ 10 MILLS 249056 754 036 264934 25911@ 259 114 284 301 264 301 222.21 6 131 TM TOTAL EXPENDITURES EXCLUDING DEBT SERVICE 279.943 285.522 221.522 291.213 291 213 791 017 397 017 302 937 9.996604 GENERAL OBLIGATION BONDS DEBT SERVICE: SERIES 12/1/2005 35,500,000®5.5% INTEREST C 8.5% 277,550 249,925 220,675 189,475 156,000 120,575 82,875 42,575 8,974.875 PRINCIPAL REDUCTION 425000 450004 480000 915008 545000 590.990 422,999 (256229 4,640902 TOTAL DEBT SERVICE 702.550 992.92@ 700 67@ 704.475 701 000 700 573 702 87@ 697,575 17 474.673 O.O.BONDS OUTSTANDING a 12131 3845000 9995099 2,915 009 2,400 002 1855.009 1 275 000 655 000 2 2 TRANSFER TO SMPG MD 01 FOR DEVELOPER NOTE REDEMPTIONS 2 9 9 2 2 9 9 9 L1243O COSTS OF BOND ISSUANCE(ESTIMATED a 4%) 2 9 2 9 2 2 2 2 310.000 TOTAL EXPEND INCLUDE DEBT SERVICE&NOTE REDEMPTIONS 962 493 995 447 986 197 995 686 992,213 997592 999 897 1 000 517 17 671 474 EXCESS REVENUES&BONDS OVER EXPENDITURES 79318 96§1 19999 113949 119.703 138484 138 954 163315 1 741 411 BEGINNING FUNDS AVAILABLE•JANUARY 1 788 717 968 033 966.906 1.967 00@ 1 190 955 1.300 858 1 439142 1.41499@ 9 ENDING FUNDS AVAILABLE•DECEMBER 31 968 035 9@§,902 1 0671315 1 160 953 1,300 659 1 439 142 1 578 044 1 741 111 )711 411 RESTRICTED CAPITALIZED INTEREST 2 2 2 9 2 2 9 2 9 UNRESTRICTED 944934 956 904 1.067 005 1.380955 1.324.239 1 439 142 1,61@999 1 741 411 1 741 411, TOTAL G.O.BONDS OUTSTANDING®12131 3,845,000 3,395,000 2,915,000 2,400.000 1,855,000 1,275.000 855.000 0 G.O.BONDS OUTSTANDING/ASSESSED VALUE 15.14% 13.36% 11.25% 9.26% 7.02% 4.82% 2.43% 0.00% See Consultants Report and Dlstlalmer 7 E9llbIt C-Financing Plan(FINAL).xl W30/04 10:02 AM EXHIBIT IV(FINANCING DISTRICT) SMPG METROPOLITAN DISTRICT 03 CASH FLOW FORECASTS- DEBT SERVICE FUND WORKING DRAFT,AUGUST 27,2004 FOR THE YEARS ENDING DECEMBER 31,2004 THROUGH 2037 PRELIMINARY,SUBJECT TO CHANGE $ YASSUMP7(ON0 2M 2002 200! 2022 2992 2424 2912 2011 2412 2212 ASSESSED VALUATION(SCH.2) 2 2 0 4. ]9444 220.092 1.1S3.400 905535Q 14 993.092 20 861 231 MILL LEVY 4.44 022 034 0,94 44.92 90,24 40.99 49.99 40,90 49,09 INCREMENTAL RESIDENTIAL UNITS ADDED 4 2 2 9 9 au 041 291 2 2 CUMULATIVE RESIDENTIAL UNITS Q 9 0 9 9 174 Z2Q ]1{Q 1,]99 1.143 INCREMENTAL SQUARE FEET OF NON-RESIDENTIAL SPACE 9. 9 4 9 4 9 9 2 2 2 CUMULATIVE SQUARE FEET OF NON-RESIDENTIAL SPACE 0 9 0 9 9 0 9 9 2 4 CASH FLOW REA= 2004 2942 pil 2991 29291 Q 30_2p 010 9_011 Igia 222 PROPERTY TAXES 0 0 0 4,000 10,000 47,328 382,222 599,724 634,049 SPECIFIC OWNERSHIP TAXES a 5%OF PROPERTY TAXES 0 0 0 200 500 2,368 18,111 29,988 41,702 GENERAL OBLIGATION BOND ISSUES(NON-RATED) 0 0 0 0 0 0 0 9.000,000 0 INTEREST EARNINGS a 2%OF BEGINNING FUNDS 9 2 9 0 42 172 949 2.121 15 81Q TOTAL REVENUES 0 2 0 4.299 10 542 44,QI1 381.222 9 638 176 2-9]292 pXPENDITURF1 COUNTY TREASURER 3.0%COLLECTION FEE 0 0 0 0 120 300 1,420 10,887 17,992 25,021 ACCOUNTING&AUDIT 0 0 0 0 1,000 1,000 1,000 1,000 1,000 1,000 IGA PAYMENT TO SMPG MD#1(SERVICE DISTRICT)O 10 MILLS 0 9 9 0 1.000 2.992 11 832 90356 149 931 208 512 TOTAL EXPENDITURES EXCLUDING DEBT SERVICE 0 0 0 2 2.120 3.199 14.252 102.022 188.923 28.121 GENERAL OBLIGATION BONDS DEBT SERVICE: SERIES 12/1/2012$9,000,000 a 9.5% INTEREST a 9.5% 0 0 0 0 0 0 0 0 0 585,099 PRINCIPAL REDUCTION 9 9 Q 0 2 9 4 2 9 150.000 TOTAL DEBT SERVICE 9 2 Q 2 4 9 2 9 2 735.009 G.O.BONDS OUTSTANDING 012131 Q 2 0 9 Q o 0 0 9000000 0.550.000 TRANSFER TO SMPG MD 01 FOR DEVELOPER NOTE REDEMPTIONS 0 9 0 2 9 0 2 0 9.840 000 9 2 COSTS OF BOND ISSUANCE(ESTIMATED O 4%) 4 2 2 0 9 2 9 2 380.999 4 TOTAL EXPEND INCLUDE DEBT SERVICE&NOTE REDEMPTIONS 9 9 0 2 2.120 3.800 14.252 102.427 9165923 92.9,2a EXCESS REVENUES S BONDS OVER EXPENDITURES 2 0 2 0 2„20. L7j2 82,22 275 800 487.252 (77 972a BEGINNING FUNDS AVAILABLE•JANUARY 1 0 0 0 2 0 limo 2.222 Amn 323 241 790.493 ENDING FUNDS AVAILABLE•DECEMBER 31 2 0 0 0 2,982 8.822 44.441 223241 122.32 712.521 RESTRICTED CAPITALIZED INTEREST 9 Q 2 2 2 9 2 2 2 2 UNRESTRICTED Q Q 0 9 2.242 8822 14.41 323.241 790.495 712 521 TOTAL G.O.BONDS OUTSTANDING 012/31 9,000,000 8,850,000 G.O.BONDS OUTSTANDING/ASSESSED VALUE 43.18% 41.61% See Consultant's Report and Disclaimer 8 Exhibit C-Financing Plan(FINAL).xls8/30/0410:02 AM I EXHIBIT IV(FINANCING DISTRICT) SMPG METROPOLITAN DISTRICT 53 CASH FLOW FORECASTS- DEBT SERVICE FUND FOR THE YEARS ENDING DECEMBER 31.2004 THROUGH 2037 KEY ASSUMPTIONS 241! 2915 2016 nil 2215 221E 2224 1221 2212 2425 2421 ASSESSED VALUATION(SCH.2) 21 268 258 21.28825E 21 893 821 21 893.621 22127 493 77 12749$ 27 570 04% 77 570 043 23.021 444 71 021 444 23 481 878 MILL LEVY 4299 42,22 40. 2 40 00 4Q.44 15.91 4022 40. 2 94.44 42.00 40.22 INCREMENTAL RESIDENTIAL UNITS ADDED 4 9 2 o 2 4 9 2 2 9 9 CUMULATIVE RESIDENTIAL UNITS 1.193 1.143 1.143 1.143 1.143 1.143 1.143 1.143 1.142 1.143 1.143 INCREMENTAL SQUARE FEET OF NON-RESIDENTIAL SPACE Q 9 Q 0 Q 2 2 2 2 2 2 CUMULATIVE SQUARE FEET OF NON-RESIDENTIAL SPACE 4 0 Q 9 0 2 4 2 0 0 2 CASH PLOW REVENUES 2214 2911 2415 1411 241E 241.E 2012 2221 2211 2211 1424 PROPERTY TAXES 550,730 850,730 867,745 887.745 886,100 885,100 902.802 902,802 920,858 920,858 939,275 SPECIFIC OWNERSHIP TAXES a 5%OF PROPERTY TAXES 42,637 42,537 43.387 43,387 44,255 44,256 45,140 45,140 48,043 48.043 46.984 GENERAL OBLIGATION BOND ISSUES(NON-RATED) 0 0 0 0 0 0 0 0 0 0 0 INTEREST EARNINGS a 2%OF BEGINNING FUNDS ]9,254 ]2$12 11.554 10352 1.111 8.179 7141 8254 5.222 sass 4,58E TOTAL REVENUES 807.517 105.171 92288E 921 085 938.522 937,534 955 086 954 296 972.480 971,969 990.838 EXPENDITURES COUNTY TREASURER 3.0%COLLECTION FEE 25,522 25,522 26,032 26,032 26.553 26,553 27,084 27,084 27,626 27,826 28,178 ACCOUNTING&AUDIT 1,000 1,000 1,000 1,000 1,000 1,000 1,000 1,000 1.000 1,000 1,000 IGA PAYMENT TO SMPG MD 6t(SERVICE DISTRICT)®10 MILLS 212 683 212 58% 216 936 218.938 221.275 22127¢ 325 700 225.122 22114 230 214 234 819 TOTAL EXPENDITURES EXCLUDING DEBT SERVICE . 239 204 231204 243,969 243.989 2.4AA24 248 878 253 784 253 784 258 840 258.840 263 997 GENERAL OBLIGATION BONDS DEBT SERVICE: SERIES 12/1/2012 59,000,000®6.5% INTEREST a6.5% 575,250 564,850 553,800 641,775 529,100 515,450 500,825 486,226 468,650 451,100 432,875 PRINCIPAL REDUCTION 180.000 172.222 185 000 195.009 210.000 225 000 240.000 255.000 270000 265 000 305 000 TOTAL DEBT SERVICE 735 250 734 854 738.822 736 775 739109 740 459 740 875 740.224 7$8859 736 100 737.575 G.O.BONDS OUTSTANDING 017/31 8 890 000 5,520,004 p 335 000 8 140 000 7 930 009 7.705.022 1,465 000 7 710 000 5.940.000 6 655 000 5.350.022 TRANSFER TO SMPG MD 61 FOR DEVELOPER NOTE REDEMPTIONS 2 4 0 0 9 Q Q 4 0 Q 9 COSTS OF BOND ISSUANCE(ESTIMATED 04%) Q 2 0 2 9 2 2 9 9 2 2 TOTAL EXPEND INCLUDE DEBT SERVICE B NOTE REDEMPTIONS 974 454 974,054 982 789 980744 987 978 989774 994 609 994.009 997 199 994.940 1 001 577 EXCESS REVENUES&BONDS OVER EXPENDITURES (68.937) 167 8761 (600621 (59.259) 919 406) /51 744) (39.5231 139,7141 (25 030) 177,981) J10 7341 BEGINNING FUNDS AVAILABLE•JANUARY 1 712 521 845.583 577.707 517.825 418.388 408.980 067 218 317 693 277979 252949 229968 ENDING FUNDS AVAILABLE•DECEMBER 31 945 583 677 707 517.675 458 364 !alas 357.218 317.69% 271.229 252.949 221.1.14 219 734 RESTRICTED CAPITALIZED INTEREST 9 Q Q 2 2 4 4 9 2 2 2 UNRESTRICTED 645 583 577.707 517 675 458 388 408.960 357 218 21.222 277 979 252.111 329 988 219 234 TOTAL G,O.BONDS OUTSTANDING a 12/31 8,690,000 8,520,000 6,335,000 8,140,000 7,930,000 7,705,000 7,465,000 7,210,000 6,940,000 6,855,000 8,350,000 G.O.BONDS OUTSTANDING/ASSESSED VALUE 40.88% 39.27% 38.42% 38.79% 35.64% 34.14% 33.07% 31.32% 30.15% 28.34% 27.04% See Consultants Report and Disdalmer 9 Exhibit C-financing Plan(FINAL).xlsa/30/0410:02 AM EXHIBIT(V(FINANCING DISTRICT) SMPG METROPOLITAN DISTRICT 13 CASH FLOW FORECASTS- DEBT SERVICE FUND FOR THE YEARS ENDING DECEMBER 31,2004 THROUGH 2037 $EY ASSUMPTIONS 2221 2221 2212 2221 2J{22 2222 2221 2422 2232 22H 233 ASSESSED VALUATION(SCH.2) 23 481.873 23 974 992 23.974.992 24.454.492 74,454 492 24.943.582 24 943 587 25 442 453 22442.452 25 961 302 22,951.302 MILL LEVY 49,99 40.02 44@9 42.29 44.21 42„22 40.21 42.92 42 42. 42,29 INCREMENTAL RESIDENTIAL UNITS ADDED 9 9 9 9 2 9 9 .1 92 9 2 9 2 CUMULATIVE RESIDENTIAL UNITS 1.143 1.143 1.143 1.143 1.142 1.143 1.142 1.143 1.142 £143 1.142 INCREMENTAL SQUARE FEET OF NON-RESIDENTIAL SPACE 2 2 2 9 9 2 9 2 2 2 9 CUMULATIVE SQUARE FEET OF NON-RESIDENTIAL SPACE 2 9 9 9 9 9 9 9 2 2 9 CASH FLOW 11EVENUE2 2923 2221 2.922 a 233 2922 201 232 22; 2229 2299 PROPERTY TAXES 939,275 959,000 959,000 978,180 978,180 997,743 997,743 1,017,698 1,017,698 1,038,052 1,038,052 SPECIFIC OWNERSHIP TAXES 05%OF PROPERTY TAXES 48,964 47,950 47,950 48,909 48,19 49,887 49.887 60.886 50,885 61,903 61,903 GENERAL OBLIGATION BOND ISSUES(NON•RATED) 0 0 0 0 0 0 0 0 0 0 0 INTEREST EARNINGS 02%OF BEGINNING FUNDS 4.395 4 162 12 22 1.411 1 2,614 3.311 4.9 5.99.4 8 9,724 TOTAL REVENUES 990 623 1.011.112 101121111 1.031.41 1037727 1.12,818 7053.318 107496484 1.075 997 100837@ 1089724 EXPENDITURES COUNTY TREASURER 3,0%COLLECTION FEE 28,178 28,770 28,770 29,345 29,345 28,932 29,932 30,531 30,531 31,142 31,142 ACCOUNTINGS AUDIT 1,000 1,210 1,000 1,000 1,000 1,000 1,000 1,000 1,000 1,000 1,000 IGA PAYMENT TO SMPG MDII(SERVICE DISTRICT)010 MILLS 229,1]4 239 750 239,750 244.545 244.641 249 43@ 249 436 219424 254.425 259 512 259.512 TOTAL EXPENDITURES EXCLUDING DEBT SERVICE 263 897 269 520 269 520 274 890 274.890 60 8 2 .3 8 280 388 285,952 222222 291 655 291 855 GENERAL OBLIGATION BONDS DEBT SERVICE: SERIES 12/1/2012 59.000,000 0 6.5% INTEREST 06.6% 412,750 391,625 389.200 345,150 319,475 292.175 283,250 232,375 199,650 184,460 127,075 PRINCIPAL REDUCTION 325 000 341.9] 370 000 395.000 429,444 445 000 422.01 9♦2.299 540.021 525.221 810.000 TOTAL DEBT SERVICE 737.750 234.421 739200 740.150 739 472 737.175 738,250 737 37@ 722.222 739 450 737072 G.O.BONDS OUTSTANDING 012/31 4025000 1$80000 6.310092 4.915.000 4495000 405001 3,133.449 3 070 000 2,530,000 t 955.000 1.3/5.000 TRANSFER TO SMPG MD 11 FOR DEVELOPER NOTE REDEMPTIONS 9 9 9 2 2 9 2 9 2 9 2 COSTS OF BOND ISSUANCE(ESTIMATED 04%) 9 2 2 9 2 2 2 2 9 9 9 TOTAL EXPEND INCLUDE DEBT SERVICE 8 NOTE REDEMPTIONS 1 001.747 1 008 145 1 005.720 1 015.049 1.014 365 1.017 549 1 018 818 1.023.330 1 025 505 1 031 105 1 028 730 EXCESS REVENUES&BONDS OVER EXPENDITURES {11 124) 4.$12 2421 16,369 173§2 25073 34244 184 50.482 47374 70 994 BEGINNING FUNDS AVAILABLE-JANUARY 1 219 734 21.111 213076 215.569 231 929 249.291 264 364 319 083 370,697 42-n88 46E.483 ENDING FUNDS AVAILABLE•DECEMBER 31 208.111 213.078 215.569 num 249.291 284,364 319 OM 370,687 121,212 488 4@3 559 457 RESTRICTED CAPITALIZED INTEREST 4 9 4 4 4 9 9 4 9 4 7 UNRESTRICTED jOB 111 213.076 215 569 231 929 248 281 264.384 319.13 370 697 421.188 488 463 559.457 TOTAL G.O.BONDS OUTSTANDING 012/31 8,025,000 5,880,000 5,310,000 4,915,000 4,495,000 4,050,000 3,576,000 3,070,000 2,530,000 1,955,000 1,345,000 G.O.BONDS OUTSTANDING/ASSESSED VALUE 25.13% 23.69% 21.71% 20.10% 18.02% 18.24% 14.05% 12.07% 9.75% 7.53% 5.08% See Consultant's Report and Disclaimer 10 Exhibit C-Financing Plan(FINAL).xla/30/0410:02 AM EXHIBIT IV(FINANCING DISTRICT) SMPG METROPOLITAN DISTRICT 03 CASH FLOW FORECASTS• DEBT SERVICE FUND FOR THE YEARS ENDING DECEMBER 31,2004 THROUGH 2037 AgYASSUMPO0NS 2234 22U T0TAI8 ASSESSED VALUATION(SCH.2) 28.470.5@ 26470328 MILL LEW 92,92 92,92 INCREMENTAL RESIDENTIAL UNITS ADDED 2 2 7.19.3 CUMULATIVE RESIDENTIAL UNITS 1142 7,)92 1.143 INCREMENTAL SQUARE FEET OF NON-RESIDENTIAL SPACE 2 2 2 CUMULATIVE SQUARE FEET OF NON-RESIDENTIAL SPACE 2 2 2 CASH FLOW REVENUES L 223j TOTALS PROPERTY TAXES 1,058,813 1,058,813 24,889,314 SPECIFIC OWNERSHIP TAXES@ 5%OF PROPERTY TAXES 52,941 52,941 1,234,486 GENERAL OBLIGATION BOND ISSUES(NON-RATED) 0 1 9,000,001 INTEREST EARNINGS @ 2%OF BEGINNING FUNDS 11 189 1?959 201212 TOTAL REVENUES 1 122 943 7.124.705 35 130 852 EXPENDITURES COUNTY TREASURER 3.0%COLLECTION FEE 31,764 31,764 740.679 ACCOUNTING&AUDIT 1,000 1,000 30,000 IGA PAYMENT TO SMPG MD 81(SERVICE DISTRICT)@ 10 MILLS 264 703 294 703 6 172,328 TOTAL EXPENDITURES EXCLUDING DEBT SERVICE 297 488 297.464 6 943 004 GENERAL OBLIGATION BONDS DEBT SERVICE: SERIES 12/112012$9,000,000 @ 8.5% INTEREST @ 6.5% 87,425 45.175 9,453,275 PRINCIPAL REDUCTION 650 000 895.000 9.000.000 TOTAL DEBT SERVICE 737.4222 740.175 18453.275 G.O.BONDS OUTSTANDING @ 12/31 48S.ffi9. 2 2 TRANSFER TO SMPG MD 81 FOR DEVELOPER NOTE REDEMPTIONS 9 0 3.640.003 COSTS OF BOND ISSUANCE(ESTIMATED @ 4%) 2 2 360.000 TOTAL EXPEND INCLUDE DEBT SERVICE S NOTE REDEMPTIONS 1 034 893 1.037.643 31 396.269 EXCESS REVENUES&BONDS OVER EXPENDITURES 38.OSQ 87A62 734.570 BEGINNING FUNDS AVAILABLE-JANUARY 1 559 457 647 607 2 ENDING FUNDS AVAILABLE•DECEMBER 31 847 507 734.570 734.57Q RESTRICTED CAPITALIZED INTEREST 2 9 2 UNRESTRICTED 847 507 731,570 .734,57.1) 0 TOTAL G.O.BONDS OUTSTANDING @ 12131 695,000 0 G.O.BONDS OUTSTANDING/ASSESSED VALUE 2.63% See Consultant's Report and Disclaimer It Exhibit C•Financing Plan(FINAL).xls8/30/0410:02 AM EXHIBIT III(FINANCING DISTRICT) (MPG METROPOLITAN DISTRICT 84 CASH FLOW FORECASTS•DEBT SERVICE FUND WORKING DRAFT,AUGUST 27,2004 FOR THE YEARS ENDING DECEMBER 31,2004 THROUGH 2044 PRELIMINARY,SUBJECT TO CHANGE REY ASSUMPTIONS W24 3991 392E 2221 2229 2491 29.32 2111 2432 2933 2132 3211 2111 ASSESSED VALUATION(SCHEDULE 3) 9 Q 9 9 2 129.219 219.299 1181200 1 007 797 9,788619 10425042 13.925 702 15 441 931 MILL LEVY 2.29 9.99 9.19 299 2.14 .12.99 12.29 12.29 12.44 12.41 12.99 12.94 1242 INCREMENTAL RESIDENTIAL UNITS ADDED 2 2 9 9 2 2 9 9 9 2 2 Q 9 CUMULATIVE RESIDENTIAL UNITS 9 9 9 4 4 9 9 Q 9 9 9 9 9 INCREMENTAL SQUARE FEET OF NONRESIDENTIAL SPACE 9 2 2 9 9 0 125.000 125000 150.900 150.000 175000 292292 399.92 CUMULATIVE SQUARE FEET OF NON-RESIDENTIAL SPACE 9 2 2 2 Q 9 125000 219.294 19201919 992449 771009 975 009 1271229 CASH FLOW a1VEHUEI 2991 2221 2444 2m 2291 2692 2212 2211 2112 2212 2211 2211 2119 PROPERTY TAXES 0 0 0 0 0 1,200 3,000 14,108 47,973 81,483 125,101 167,108 221,303 SPECIFIC OWNERSHIP TAXES 05%OF PROPERTY TAXES 0 0 0 0 0 60 150 710 2.300 4,073 8,255 8,365 11,066 GENERAL OBUGATION BOND ISSUES 0 0 0 0 0 0 0 0 0 0 0 0 0 INTEREST EARNINGS 02%OF BEGINNING FUNDS 9 2 2 2 2 2 ,19 0 249 E49 2222 4.173 1112 TOTAL REVENUES 9 Q Q 9 9 1399 312@ 14.953 00619 92919 139578 179637 220.170 IXPFNDITIIRF4 COUNTY TREASURER 3,0%COLLECTION FEE 0 0 0 0 0 38 90 428 1,439 2,444 3,753 5.013 6,530 ACCOUNTING a AUDIT 0 0 0 0 6 0 1,000 1,000 t,000 1,000 1,000 1,000 1,000 IGA PAYMENT TOSMPG MD SI(SERVICE DISTRICT)03 MILLS 2 Q 9 2 Q 394 714 3.912 11.9E+7 22391 21311 41.777 10329 TOTAL EXPENDITURES EXCLUDING DEBT SERVICE 2 9 2 2 2 319 1,242 96X4 14432 20,912 2602@ 47 790 92,945 GENERAL OBUGATION BONDS DEBT SERVICE: SERIES 1211/2010 35,250,000 0 6.5% INTEREST a6.6% 0 0 0 0 0 0 0 0 0 0 0 0 0 PRINCIPAL REDUCTION 2 9 2 9 9 Q 2 9 Q 9 2 9 2 TOTAL DEBT SERVICE 9 9 Q 9 2 2 2 2 2 2 2 2 2 G.O.BONDS OUTSTANDING 012J3t 9 Q 9 2 9 4 9 9 9 9 9 9 Q TRANSFER TO WILSON RANCH SERVICE MD FOR NOTE REDEMPTIONS 9 2 Q 9 9 0 9 9 9 2 9 9 COST OF BOND ISSUANCE(ESTIMATED O 4%) 2 9 9 9 2 2 4 2 2 2 9 2 2 TOTAL EXPEND INCLUDE DEBT SERVICES NOTE REDEMPTIONS 2 9 9 2 9 992 1.840 in 14432 23.919 96026 47 790 92,999 EXCESS REVENUES S BONDS OVER EXPENDITURES 9 Q 9 9 2 924 1.321 2.212 32124 42111 17.119 191 847 170 214 BEGINNING FUNDS AVAILABLE•JANUARY 7 Q Q 2 4 9 Q 224 2,212 12230 48.414 111 109 292111 940609 ENDING FUNDS AVAILABLE•DECEMBER 31 9 9 9 a Q 224 2,212 12230 42.414 11119 292451 940509 51671E RESTRICTED CAPITALM.ED INTEREST 9 1 2 9 9 9 9 2 9 9 2 2 9 UNRESTRICTED 9 9 9 9 Q 924 2312 12292 49.414 11110E 30865 $ 340.605 118 719 TOTAL G.O.BONDS OUTSTANDING 012/31 G.O.BONDS OUTSTANDING/ASSESSED VALUE See Consultant's Repot and Disclaimer 12 Exhibit C-Financing Plan(FINAL).xls8/30/0110:02 AM EXHIBIT III(FINANCING DISTRICT) SMPG METROPOLITAN DISTRICT E4 CASH FLOW FORECASTS•DEBT SERVICE FUND FOR THE YEARS ENDING DECEMBER 31,2004 THROUGH 2044 XEYASSUMPTIONC 2411 MI 121E 2422 2221 2423 2929 2424 2421 2224 2421 222! 1421 ASSESSED VALUATION(SCHEDULE 3) 24 623,@54 32976654 55.138016E 18545.612 41803,149 48 803 198 5056718/ 30213102 80 481 057 Q*g22984 57755771 70 878 43t 12644977 MILL LEVY 1299 1299 1299 12,99 ]2.30 12.91 12.20 1224 1224 12,99 12.22 1224 .12.42 INCREMENTAL RESIDENTIAL UNITS ADDED 2 9 2 9 2 9 9 4 2 2 9 9 2 CUMULATIVE RESIDENTIAL UNITS 9 9 2 2 9 2 2 2 2 2 2 2 2 INCREMENTAL SQUARE FEET OF NONRESIDENTIAL SPACE 126 000 125299 125 009 175 000 175.009 178000 115,949 176 022 199.949 131199 199949 122222 125292 CUMULATIVE SQUARE FEET OF NONRESIDENTIAL SPACE 1400099 1 525 000 1259999 1826000 2202904 2.176 009 2.380000 25 5000 253,901 7725.000 2825000 2.925299 3.080000 CASH PLOW 7S5VENIIFR 2912 34.1.E 2911 2222 2221 2422 2225 5921 2221• 2Q24 3921 343E 121E PROPERTY TAXES 294266 390.944 424,583 467,346 601.638 561,638 611.606 674,806 725.773 792,275 613,069 860,541 871.752 SPECIFIC OWNERSHIP TAXES 0I%OF PROPERTY TAXES 14,714 19,547 21228 23,387 25,082 26,082 30.680 33,740 38289 39,814 40,853 42,627 43,688 GENERAL OBUGATION BOND ISSUES 0 0 8,000.000 0 0 0 0 0 0 0 0 0 0 INTEREST EARNINGS 02%OF BEGINNING FUNDS 10.334 15.053 21956 23,41 22,942 17.883 13.828 70372 1,559 6.051 §,291 218%5 £545 TOTAL REVENUES 479 334 425 544 4967 146 519.013 002292 607202 59622 718922 70868'( g37.e4@ 559 039 597 881 92920@ FXPFNIIRVRF.5 COUNTY TREASURER 3.0%COLLECTION FEE 8,829 11,728 12,737 14,020 15,049 16,849 18,348 20,244 21,773 23.768 24.362 25,618 26,153 ACCOUNTING S AUDIT 1,000 1,000 1,000 1.000 1,000 1,000 1.000 1,000 1,000 1,000 1,000 1,000 1,000 IGA PAYMENT TOSMPG MD 01(SERVICE DISTRICT)03 MILLS 73572 97736 106 141 118 637 125 409 140,419 152002 168.70% 1$1112 121942 295.251 272 634 211,282 TOTAL EXPENDITURES EXCLUDING DEBT SERVICE @3.400 1104N 119874 131 057 141,459 155,260 172 250 15$@1$ 291215 222.831 22.850 238.152 246.080 GENERAL OBUGATION BONDS DEBT SERVICE: SERIES 12XO010 55,250,000 0 05% INTEREST 05.8% 0 0 0 520,000 511,225 501,800 491,725 481,000 489,526 457,800 444.925 431,275 416,650 PRINCIPAL REDUCTION 9 2 2 135000 148000 155909 165.000 175.009 185000 14599,9 219949 225299 254.4/x4 TOTAL DEBT SERVICE 2 9 2 545.994 555122 566249 456.86 555.944 *2925 452944 554222 458275 555259 G.O.BONDS OUTSTANDING 012/31 2 9 *900000 296500p 7220 009 7565009 7.400.000 1925909 7 040 009 8845.000 6 635 009 4 410 009 8170000 TRANSFER TO WILSON RANCH SERVICE MD FOR NOTE REDEMPTIONS 2 9 1.580000 9 9 9 9 2 9 9 9 9 9 COST OF BOND ISSUANCE(ESTIMATED 04%) 9 9 229979 2 2 9 2 2 2 2 2 9 2 TOTAL EXPEND INCLUDE DEBT SERVICE S NOTE REDEMPTIONS 83403 110 484 5119.878 786857 797 884 515 059 528,974 545,945 858.841 575 437 555281 585.427 90174Q EXCESS REVENUES S BONDS OVER EXPENDITURES 236935 915.M 547261 (767 843) (248 0711 (207 3561 (172.9531 (1214231 (459441 (57.4911 (24.554) 2.456 18464 BEGINNING FUNDS AVAILABLE•JANUARY/ 51811E 752 654 1.251251 1 414 009 1 147 159 899.138 221122 37882E 591.806 592•@52 2.22211 240 617 243 27@ ENDING FUNDS AVAILABLE•DECEMBER 31 752 654 1 087 734 1414012 1 147 159 599 13@ 991.782 518 629 291.608 191,02 365.371 240 817 243 77@ 25113E RESTRICTED CAPITALIZED INTEREST 9 2 2 2 2 9 9 2 2 9 9 9 9 UNRESTRICTED 762853 1 087 734 1415002 1147.169 999.128 991242 418.820 301.808 292952 245.311 240817 24327@ 251232 TOTALG.O.BONDS OUTSTANDING 012/31 8,000,000 7,865,000 7,720,000 7,565.000 7,400,000 7,225.000 7,040,000 8,846,000 6,835,000 6,410,000 8,110,000 G.O.BONDS OUTSTANDING/ASSESSED VALUE 20.54% 18.81% 16.49% 14.84% 13.16% 11.95% 10.88% 10.10% 9.36% 8.82% 8.13% • See Consultants Report and Disclaimer 13 EAR*C•Financing Plan(FINAL).1ds8/30/0410:02 AM EXHIBIT III(FINANCING DISTRICT) !MPG METROPOLITAN DISTRICT 64 CASH FLOW FORECASTS•DEBT SERVICE FUND FOR THE YEARS ENDING DECEMBER 31,2004 THROUGH 2044 KEY ASSUMPTION, 2212 2221 2212 2933 2221 2211 2419 2211 292@ 142! 2242 2941 2242 ASSESSED VALUATION(SCHEDULE 3) 75901165 75901784 77419890 77 419.829 78968212 78008217 50":547 5731. 20647681 52158631 Q11611613 91 601.703 @3.00170@ 95477737 MILL LEVY 11,92 12,22 12.02 1292 1210 1199 1200 12,22 1222 12,22 1292 12.00 1292 INCREMENTAL RESIDENTIAL UNITS ADDED 2 Q 2 2 2 2 2 9 2 2 2 2 2 CUMULATIVE RESIDENTIAL UNITS 2 2 2 2 2 2 2 9 2 2 2 9 2 INCREMENTAL SQUARE FEET OF NON-RESIDENTIAL SPACE 2 2 2 2 2 9 2 2 9 2 9 2 2 CUMULATIVE SQUARE FEET OF NON-RESIDENTIAL SPACE 2020.0¢2 3060 OQQ 3080.000 3061000 2960000 3000000 3.092.220 1060 009 1060009 2 060 009 3060001 1.224.322 2969 009 SASH FLOW RFVENUC2 1932 3211 2432 1433 2431 243E 1212 293.E 292E 222.E 2242 2921 3.242 PROPERTY TAXES 910,821 910,821 929,038 929,038 947,619 947,819 956,571 988,571 985,902 985,002 1,005,620 1.006,620 1,026,733 SPECIFIC OWNERSHIP TAXES 05%OF PROPERTY TAXES 46,641 46,641 48,462 48,452 47.381 47,381 48,329 48,329 49.296 40,295 60,281 60,281 61,287 GENERAL OBLIGATION BOND ISSUES 0 0 0 0 0 0 0 0 0 0 0 0 0 INTEREST EARNINGS 02%OF BEGINNING FUNDS 2,232 2222 7,227 2.221 2.222 11 479 13143 16.188 17.272 19292 22.121 24883 27,221 TOTAL REVENUES 881.697 22292@ 992.767 98405t 1004,657 10004@9 1028042 1522349 1 062 47 Q ].224.242 tole 075 108076@ t1o4741 3;XPENDITURFR COUNTY TREASURER 3.0%COLLECTION FEE 27,326 27,326 27.871 27,871 28,429 29,429 28.997 28,997 20,677 29,677 30,169 30,189 343772 ACCOUNTINGS AUDIT 1,000 1.000 1,000 1,000 1,000 1.000 1,000 1,000 1,000 1,000 1,000 1,000 1,000 IGA PAYMENT TO!MPG MD 61(SERVICE DISTRICT)p 3 MILLS 227292 237292 222229 232.229 232329 31$62 241 643 241@41 748 474 34847@ 251422 321A05 222.471 TOTAL EXPENDITURES EXCLUDING DEBT SERVICE 1@9.439 356 290 39113t 381.131, 356.333 266.331 711.@42 211.@40 327921 777.06% 3@2371 2@2.674 299224 • GENERAL OBLIGATION BONDS DEBT SERVICE: SERIES 12622010 65,250,000®6.6% INTEREST®5.5% 401,060 384,476 366,926 348,076 327,925 306,475 283,725 269,875 234,000 208,700 177,450 148,260 113,100 PRINCIPAL REDUCTION 242.229 37000Q 320322 112,992 132.99 352,422 370.901 296.422 122.913 4*2.22 429.222 611.190 *42.492 TOTAL DEBT SERVICE *22,949 854474 568625 558075 857.925 §5647@ 553.725 Q94575 294.222 666.710 927,452 66$254 291.122 G.O.BONDS OUTSTANDING 012(31 *15000 S 645000 5355000 §249,922 4 715 009 4+84000 2929,220 3600009 3.1%000 2730000 225§922 1 740 000 1.200 000 TRANSFER TO WILSON RANCH SERVICE MD FOR NOTE REDEMPTIONS 2 2 2 2 2 2 9 2 2 2 2 2 2 COST OF BOND ISSUANCE(ESTWATED El 4%) 2 2 2 2 2 2 9 2 2 2 2 2 2 TOTAL EXPEND INCLUDE DEBT SERVICE B NOTE REDEMPTIONS 212222 910 606 018.065 012.208 924.258 927.608 1212.52 926 314 931049 233263 240.024 111.224 941.30@ EXCESS REVENUES&BONDS OVER EXPENDITURES 49611 22,211 54.201 24.442 22.122 93.5§1 102229 103211 121,417 121 144 11@.021 141.981 163 437 BEGINNING FUNDS AVAILABLE•JANUARY I 361 739 211,3¢1 393,139 47804Q 422@22 573,484 927.112 229.223 9.91&44 222.221 1106.184 1744167 1 386 128 ENDING FUNDS AVAILABLE•DECEMBER 31 311.57 383339 428.040 492 884 573 484 997.1.49 259221 221524 964.021 1 106 16@ 1 244 167 1 380 179 1.549 665 RESTRICTED CAPITALIZED INTEREST 2 2 2 2 2 2 2 2 2 2 2 9 2 UNRESTRICTED 311 257 222332 422.242 492604 573 484 557,145 750.@23 221.$34 985021 110!.10@ 1144190 136812@ 1.549 665 TOTAL G.O.BONDS OUTSTANDING 61201 5,015,000 6,645,000 6,355,000 5,045,000 4,715,000 4,365,000 3,995,000 3.600,000 3,180.000 2,730,000 2250,000 1,740.000 1.200,000 G.O.BONDS OUTSTANDING/ASSESSED VALUE 7.79% 7.29% 8.92% 6.39% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% • • • See Consu bats Report and Disclaimer • 14 Exhibit C.FlnanUng Plan(FINAL).xls8/30/0410:02 AM EXHIBIT III(FINANCING DISTRICT) SMPG METROPOLITAN DISTRICT 04 CASH FLOW FORECASTS•DEBT SERVICE FUND FOR THE YEARS ENDING DECEMBER 31,2004 THROUGH 2044 2(PYASSUMPTION$ 2441 1444 14151.2 ASSESSED VALUATION(SCHEDULE 3) 25 477 737 @ 477 737 MILL LEVY 1242 1264 INCREMENTAL RESIDENTIAL UNITS ADDED 2 2 2 CUMULATIVE RESIDENTIAL UNITS 2 2 2 INCREMENTAL SQUARE FEET OF NONRESIDENTIAL SPACE 2 2 4080.020 CUMULATIVE SQUARE FEET OF NON-RESIDENTIAL SPACE $,282,002 1444442 Los CASH R Off REVENUES 2241 2243 gaaala PROPERTY TAXES 1,026,733 1,025,733 23.200,028 SPECIFIC OWNERSHIP TAXES O6%OF PROPERTY TAXES 51.287 61,287 1,180,406 GENERAL OBLGATION BOND ISSUES 0 0 6000,000 INTEREST EARNINGS O2%OF BEGINNING FUNDS 10,2$1 34.]27 437 419 TOTAL REVENUES 1 108 011 1 111,247 12 807 841 FXPFNDITIIRFR COUNTY TREASURER 3.0%COLLECTION FEE 30,772 30,772 698,208 ACCOUNTING I AUDIT 1,000 1.000 35,000 IGA PAYMENT TO BMPG MD 81(SERVICE DISTRICT)O3 MILLS 2241 262.413 0.102461 TOTAL EXPENDITURES EXCLUDING DEBT SERVICE 288.2044 288205 8533,779 GENERAL OBLIGATION BONDS DEBT SERVICE: SERIES 12/142010$5,250,0000 5.5% INTEREST 065% 75,000 40,300 8,399,050 PRINCIPAL REDUCTION 222x94 229.22 8000000 TOTAL DEBT SERVICE 252.992 242,492 10 390.95Q G.O.BONDS OUTSTANDING 012131 222,092 2 2 TRANSFER TO WILSON RANCH SERVICE MD FOR NOTE REDEMPTIONS 2 2 7 650 COQ COST OF BOND ISSUANCE(ESTIMATED 04%) 2 2 1124.242 TOTAL EXPEND INCLUDE DEBT SERVICE&NOTE REDEMPTIONS WB292 946 505 10933729 EXCESS REVENUES S BONDS OVER EXPENDITURES gum 182242 1874,117 BEGINNING FUNDS AVAILABLE•JANUARY 1.549 688 1 711 37Q 2 ENDING FUNDS AVAILABLE•DECEMBER 31 1 711 370 1 BA 112 1 874 117 RESTRICTED CAPITALQED INTEREST 2 2 2 UNRESTRICTED 171137Q 1.874 11Z 1 574 117 TOTALG.O.BONDS OUTSTANDING O12/31 820,000 0 G.O.BONDS OUTSTANDING/ASSESSED VALUE 0.00% 0.00% See CO IUIGM's Report and Disclaimer 15 Exhibit C Financing Plan(FIHAL).es8/30/0410:02 AM I EXHIBIT V(FINANCING DISTRICT) SMPG METROPOLITAN DISTRICT#5 CASH FLOW FORECASTS•DEBT SERVICE FUND WORKING DRAFT,AUGUST 27,2004 FOR THE YEARS ENDING DECEMBER 31,2004 THROUGH 2040 PRELIMINARY,SUBJECT TO CHANGE KEY ASSUMPTIONE 2493 2222 2423 2041 2924 2991 2212 2211 2472 2211 2Q14 ASSESSED VALUATION(SON.3) 2 2 2 Q 9 9 9 129,942 294,449 1221113 6.779.795 SILL LEVY 4.49 244 294 4.91 44.94 32.91 49.42 44.24 44.94 54.44 49.92 INCREMENTAL RESIDENTIAL UNITS ADDED 9 9 9 2 2 9 2 9 329 922 941 CUMULATIVE RESIDENTIAL UNITS Q 9 Q 9 9 Q 2 9 322 99.1 299 INCREMENTAL SQUARE FEET OFNON•RESIDENTIAL SPACE 2 2 2 Q 9 9 9 9 9 9 9 CUMULATWE SQUARE FEET OF NONRESIDENTIAL SPACE Q 9 2 9 9 9 9 9 9 9 9 °ASH FLOW plr/VIIIFil 221 293 299! 2921 2222 2tt 2212 2911 2412 2212 2414 PROPERTY TAXES 0 0 0 0 4,000 10,000 46275 351,192 SPECIFIC OWNERSHIP TAXES(115%OF PROPERTY TAXES 0 0 0 0 200 500 2,414 17.560 GENERAL OBLIGATION BOND ISSUES(NOH-RATED) 0 0 0 0 0 0 0 INTEREST EARNINGS®2%OF BEGINNING FUNDS 2 9 2 2 9 92 211 245 TOTAL REVENUES 4 9 4 9 4.292 195!2 42442 32.2191 FXPENDITIIRF4 COUNTY TREASURER 3.0%COLLECTION FEE 0 0 0 0 0 0 0 120 300 1,448 10,536 ACCOUNTINGS AUDIT 0 0 0 0 1.000 t000 IGA PAYMENT TO SMPG MD 61(SERVICE DISTRICT)C 10 MILLS 9 9 2 Q 9 9 9 1.000 2592 12288 67.798 TOTAL EXPENDITURES EXCLUDING DEBT SERVICE 2 2 Q 9 9 Q Q 1.120 2.299 14 517 94.924 GENERAL OBLIGATION BONDS DEBT SERVICE: SERIES 12/1/2015$8,500,000 m I S% INTEREST®6.5% 0 0 0 0 0 , 0 0 0 0 0 0 PRINCIPAL REDUCTION Q 2 2 9 2 2 Q 9 9 Q 4 TOTAL DEBT SERVICE 9 9 4 2 Q 2 2 2 9 2 9 G.O.BONDS OUTSTANDING C 12131 2 2 2 Q 4 9 9 9 Q 9 9 TRANSFER TO SMPG MD#1 FOR DEVELOPER NOTE REDEMPTIONS 0 Q 2 9 9 2 9 9 Q 9 9 2 COSTS OF BOND ISSUANCE(ESTIMATED @ 4%) 4' 9 9 Q 2 9 9 2 Q 9 9 TOTAL EXPEND INCLUDE DEBT SERVICE&NOTE REDEMPTIONS 2 Q 2 Q 9 9 9 1.120 2.629 1111Z 22.334 EXCESS REVENUES&BONDS OVER EXPENDITURES 2 9 9 9 9 9 2 39112 7.]82 ee+.o 270,382 BEGINNING FUNDS AVAILABLE•JANUARY 1 9 Q Q 9 9 2 9 2 9.999 19192 47 23Q ENDING FUNDS AVAILABLE•DECEMBER 31 2 9 9 2 9 9 2 9.929 19,652 67.230 917.592 RESTRICTED CAPITALIZED INTEREST Q 2 2 Q 9 9 9 9 2 9 9 UNRESTRICTED 2 2 9 9 9 9 9 921 10.642 47 2'X4 317.522 TOTAL 0.0,BONDS OUTSTANDING 39 12131 G.O.BONDS OUTSTANDING/ASSESSED VALUE See Consultant's Report and Declaimer 16 Exhibit C-Flnandng Plan(FINAL).xls8/30/0410:02 AM EXHIBIT V(FINANCING DISTRICT) SMPG METROPOLITAN DISTRICT IS CASH FLOW FORECASTS•DEBT SERVICE FUND FOR THE YEARS ENDING DECEMBER 31,2004 THROUGH 2040 aYASSUMPTI0N4 2.211 M@ 2217 221@ 2914 2922 222.1 29.222 22416 21 5189 j1949 411 �@ ASSESSED VALUATION(SCH.3) 14046.368 19 650 160 19 660 160 20 277 764 30 277 764 20 663 319 29963.314 3109690.9 Z1(SR 41.1169 MILL LEVY @000 12.29 4000 4092 4484 4022 40.92 42.22 42.22 42.00 12.22 40.02 INCREMENTAL RESIDENTIAL UNITS ADDED 2 g 2 2 9 2 2 2 9 2 2 2 CUMULATIVE RESIDENTIAL UNITS EE9 922 982 266 2226 229 229 292 222 882 292 922 INCREMENTAL SQUARE FEET OF NONRESIDENTIAL SPACE 2 2 2 9 g 9 g 9 9 2 9 g CUMULATIVE SQUARE FEET OF NON-RESIDENTIAL SPACE 2 9 2 9 2 9 9 9 9 g 9 9 945H Fl OW REVENIIF4 2212 2219 2212 2212 221E 2222 2221 2222 2221 234 2922 2229 PROPERTY TAXES 581,855 795,206 795,206 811,111 811,111 627,333 827,333 843,679 843.879 880,757 860,757 677,972 SPECIFIC OWNERSHIP TAXES@ 5%OF PROPERTY TAXES 26,093 39,760 39.760 40,556 40,556 41,367 41,367 42,194 42,194 43,038 43,038 43.899 GENERAL OBLIGATION BOND ISSUES(NON•RATED) 8,500,000 0 0 0 0 0 0 0 0 0 0 0 INTEREST EARNINGS 02%OF BEGINNING FUNDS 1222 16,111 11992 12.232 12.696 2267 0.271 L629 2291 4704 1921 1211 TOTAL REVENUES 9 096 799 850 07@ .948557 22$,922 862 364 577 958 976 777 892 901 991624 908.501 907676 924 943 2XPENDITURE2 COUNTY TREASURER 3.0%COLLECTION FEE 18,856 23,856 23,858 24,333 24,333 24,820 24.820 25.316 25.316 25,623 25,823 28,339 ACCOUNTING&AUDIT 1,000 1,000 1.000 1,000 1,000 1.000 1,000 1,000 1,000 1,000 1,000 1,000 IGA PAYMENT TO SMPG MD 01(SERVICE DISTRICT)010 MILLS 142181 188,@22 198.222 202 774 292179 24223.1 222.9$2 310 970 210 97Q 31518@ 21518E 219.493 TOTAL EXPENDITURES EXCLUDING DEBT SERVICE 15831@ 223,959 221,952 222111 228111 232653 22!3.$53 227229 337)84 242.012 292,212 246832 GENERAL OBLIGATION BONDS DEBT SERVICE: SERIES 1211/2015 0900,000 @ 89% INTEREST @ 5.5% 0 552,500 542,750 532,350 521,300 509,275 496,800 482.950 488.325 452,725 436,150 418,600 PRINCIPAL REDUCTION 2 152.444 162444 170009 125.424 185,92! 214,9'!2 229992 242882 25222! 21!1242 292,224 TOTAL DEBT SERVICE 2 702,609 702 712 7112.192 706 300 704,774 706 609 707.992 705.329 227722 722,199 703,600 G.O.BONDS OUTSTANDING 012131 $922224 5 350 009 4.181.944 4 020.000 1§35 009 3 840 009 7430 000 7 205 000 2.455,2.42 9110 009 6949.444 6155 009 TRANSFER TO SMPG MD 81 FOR DEVELOPER NOTE REDEMPTIONS 8180,000 9 9 2 9 2 2 2 2 2 2 9 COSTS OF BOND ISSUANCE(ESTIMATED @ 4%) 114.'424 2 2 2 9 2 2 2 9 2 2 2 TOTAL EXPEND INCLUDE DEBT SERVICE&NOTE REDEMPTIONS 9.958319 926 158 926 404 930 481 939911 819.919 939291 944 239 945611. 949737 996,)92 992432 EXCESS REVENUES&BONDS OVER EXPENDITURES 437 990 (76 080) 177651) 5567671 5720471 (98.8721 19297.11 592.1151 183,1@7) 5412361 (40 4861 5354901 BEGINNING FUNDS AVAILABLE•JANUARY 1 317 597 755 572 679 492 641.841 934 879 462 6'12 403.860 141.383 399 046 235 291 194 055 153 66@ ENDING FUNDS AVAILABLE•DECEMBER 31 755 572 229422 601 641 534.879 462833 403 880 341.383 289 044 235291 194 055 153.564 128 079 RESTRICTED CAPITALIZED INTEREST 9 2 2 2 2 2 2 2 2 2 2 2 UNRESTRICTED 755 573 879 493 601 641 224.979 462612 4"1438§4 11.1191 289.048 235 291 194.055 153564 128 079 TOTAL G.O.BONDS OUTSTANDING 012/31 4500,000 8,350,000 8,190,000 8,020,000 7,835,000 7,640,000 7,430,000 7,205,000 8,965,000 6,710,000 6,440,000 6,155,000 G.O.BONDS OUTSTANDING/ASSESSED VALUE 42.76% 42.00% 40.39% 39.55% 37.88% 36.94% 35.22% 34.15% 32.37% 31.18% 29.34% 28.04% • See Consultant's Report and Dtsdalmel 17 ExNbit C-Financing Plan(FINAL).xls8/30/0410:02 AM EXHIBIT V(FINANCING DISTRICT) SMPG METROPOLITAN DISTRICT SS CASH FLOW FORECASTS•DEBT SERVICE FUND FOR THE YEARS ENDING DECEMBER 31,2004 THROUGH 2040 /(YAS.SI/MPT/71N5 2,221 2221 222E 2412 2211 2472, 2211 2234 22222 243! 2931 3931 ASSESSED VALUATION(SCH.3) 21 949 503 77 t58 290 22,836 051 22 2142 771 23 792 770 27.751.132 23.755532 24 23t 205 24 233 600 24 718 481 24 718 481. 2,212 85Q MILL LEVY 40.99 4192 4191 42,22 40.00 40.99 40.29 40.02 42.02 40.00 42.04 40.29 INCREMENTAL RESIDENTIAL UNITS ADDED 9 9 9 2 2 9 9 2 2 Q 9 9 CUMULATIVE RESIDENTIAL UNITS 129 999 121 122 991 999 991 992 291 929 221 224 INCREMENTAL SQUARE FEET OF NONRESIDENTIAL SPACE 2 9 9 2 2 9 2 9 9 9 9 9 CUMULATIVE SQUARE FEET OF NONRESIDENTIAL SPACE 2 9 9 2 2 2 2 2 9 2 9 9 CASH FLOW REVEHUEO 137 2221 232 2222 2911 2922 2921 2234 2233 2222 2911 2234 PROPERTY TAXES 877,972 895,532 913,442 931.711 931,711 950,345 950,345 989,352 969,352 988,739 968,739 1.008,514 SPECIFIC OWNERSHIP TAXES 06%OF PROPERTY TAXES 43,899 44,777 45,672 48,586 46,588 47,517 47,517 48,468 48,488 49,437 49,437 50.426 GENERAL OBLIGATION BOND ISSUES(NON-RATED) 0 0 0 0 0 0 0 0 0 0 0 0 INTEREST EARNINGS 01%OF BEGINNING FUNDS 2.252 2,212 1212 1711 1248 2,119 2,929 1214 4.113 1991 9.171 7722 TOTAL REVENUES 924.432 942320 99%237 912314 280243 1 000 021 1000542 1 071 075 1071 531 L043187 1044340 108610' FREFNIVTIIRF4 COUNTY TREASURER 3.0%COLLECTION FEE 26,339 26,866 27,403 27,951 27,951 28.510 28,510 29,081 29,061 29,682 29,682 30,255 ' ACCOUNTING S AUDIT 1,000 1,000 1,000 1,000 1.000 1.000 1,000 1,000 1,000 1.000 1,000 1.000 IGA PAYMENT TO SMPG MD PI(SERVICE DISTRICT)0 10'MILLS 219,499 222121 229 361 212.221 212.929 217519 237512 242311 242 330 292.121 247.165 252 172 TOTAL EXPENDITURES EXCLUDING DEBT SERVICE 246 Biz 229932 2$.121 211.279 75/879 267997 227.097 272 419 272 419 277242 277 847 291121 GENERAL OBLIGATION BONDS DEBT SERVICE: SERIES 12J1/2015$4,500,090 0 1.5% INTEREST 04.5% 400,075 380,250 359,125 338,700 312,850 288,975 259,675 230.750 199,875 187,050 131,950 94,675 PRINCIPAL REDUCTION 8999 225.900 249.99 2211.000 395.202 422,999 441.992 415.000 121229 2=2 575.000 812.229 TOTAL DEBT SERVICE 705.075 705.252 204.125 706700 707 650 708 975 704 679 725.292 704 875 707.05Q mum 704 575 G.O.BONDS OUTSTANDING 012/31 5.850.000 1,125000 5180002 4 810 009 4 415 000 1995000 3,050000 3.071929 2.570.000 2.030.099 1.455000 9¢1299 TRANSFER TO SMPG MDII FOR DEVELOPER NOTE REDEMPTIONS 2 9 2 2 9 2 9 2 9 9 2 9 COSTS OF BOND ISSUANCE(ESTIMATED 10 4%) 2 2 2 2 2 2 2 2 9 9 2 9 TOTAL EXPEND INCLUDE DEBT SERVICE&NOTE REDEMPTIONS 951947 251992 Min 991.022 962522 224372 271,22 978.169 $71,294 9$1.197 984 797 997,@5$ EXCESS REVENUES S BONDS OVER EXPENDITURES 127 4751 f14 8791 1211 11930 10 714 29.921 28770 42,929 44 639 01225 112.511 71.142 BEGINNING FUNDS AVAILABLE•JANUARY 1 128.079 122.925 91221 91492 07.304 108,010 122.99 182 739 222241 252,224 398.592 321122 ENDING FUNDS AVAILABLE•DECEMBER 31 100 604 95.920 85 869 07 304 108 010 133 989 162.739 291142 212,224 321012 311129 44645t RESTRICTED CAPITALIZED INTEREST 9 2 9 9 9 9 9 9 9 2 9 9 UNRESTRICTED 121521 91321 1,4319 97.224 108012 133.199 152 799 225.945 260 784 321512 221122 4¢1423 TOTALG.O.BONDS OUTSTANDING 012/31 5,880,000 5,525,000 5,180,000 4,610,000 4,415,000 3,995,000 3,550,000 3,075,00D 2,570,000 2,030,000 1,455,000 845,000 GA.BONDS OUTSTANDING/ASSESSED VALUE 26.13% 24.19% 22.24% 20.85% 18.58% - 16.81% 14.65% 12.69% 10.40% 8.21% 5.77% 3.35% I See Consultant's Report and Disclaimer 18 Exhibit C-Financing Plan(FINAL),ds8/30/0410:02 AM DB wain VI(FINANCING DISTRICT) EXHIBIT V(FINANCING DISTRICT) OMPO METROPOUTAN DISTRICT N SMPG METROPOLITAN DISTRICT IS I DIS CASH FLOW FORECASTS•DEBT SERVICE FUND TS• FOR THE YEARS ENDING DECEMBER 31,2004 TER< CASH FLOW FORECASTS•DEBT SERVICE FUND 0 d FOR THE YEARS ENDING DECEMBER 31,2004 THROUGH 2040 faYYASSI/MPTInNc ASSESSED VALUATION(SCH.5) MY ASSUMPTIONS 2239 SQ49 IOTAL3 1(34 MILL LEVY ASSESSED VALUATION(SCH.3) 25212.222 75 717107 INCREMENTAL RESIDENTIALUNITS ADDED MILL LEVY 4092 422 2 MU RESIDENTIAL TIAI CUMULATIVE RESIDENTIAL UNITS INCREMENTAL UNITS ADDED 0 2 222 TIM INCREMENTAL SQUARE FEET OF NnuSSIDENTLV CUMULATIVE RESIDENTIAL UNITS 222 982 222 E Fl CUMULATIVE SQUARE FEET OF NON-RESDENTU ENULL L INCREMENTAL SQUARE FEET OF NON-RESIDT SPACE 2 2 2 FCUMULATIVE SQUARE FEET OF NON-RESIDENTIAL SPACE Q 2 2 QQSH Fl OW MUM SASH FLOW PROPERTY TAXES JaIFNIIFI 2532 2252 I47BL2 P TA SPECIFIC OWNERSHIP TAXESO 5%OF PROPERT PROPERTY TAXES 1,008,514 1,028,684 23,542,819 INS GENERAL OBLIGATION BOND ISSUES(NON4ATB SPECIFIC OWNERSHIP TAXES@ 5%OF PROPERTY TAXES 50,426 51,434 1.177.141 INTEREST EARNINGS O 2%OF BEGINNING FUNDS @ 1 TOTAL REVENUES GENERAL OBLIGATION BOND ISSUES(NON-RATED) 0 0 8,500,000 INTEREST EARNINGS @ 2%OF BEGINNING FUNDS 2222 10.52Q 160 760 . FXPFNDrNRFS TOTAL REVENUES 1067.865 1.090 635 33.324.720 l f D COUNTY TREASURER 3.0%COLLECTION FEE ACCOUNTING&AUDIT FXPFNIj11URES T T IGA PAYMENT TO MPG MD I1(SERVICE DISTRIC1 COUNTY TREASURER 3.0%COLLECTION FEE 30.255 30,661 706,285 PG I TOTAL EXPENDITURES EXCLUDING DEBT SERV ACCOUNTING&AUDIT 1,000 1,000 28,000 E IGA PAYMENT TO SMPG MD Et(SERVICE DISTRICT)@ 10 MILLS 222.129 257A71 58857044 DN1 GENERAL OBUGATO 221 N BONDS DEBT SERVICE: TOTAL EXPENDITURES EXCLUDING DEBT SERVICE 324 229.2.32 6619989 SERIES 12/1/201104.204 A%,004 O 1 , 3,254 1% INTEREST a 5.5% GENERAL OBLIGATION BONDS DEBT SERVICE: DUC PRINCIPAL REDUCTION SERIES 12/1/2015 41,500,000 @ 5.5% ERV TOTAL DEBT SERVICE INTEREST @1.5% 54,925 12,675 8,840,775 .S, 0.0.BONDS OUTSTANDING @ 12131 PRINCIPAL REDUCTION 252.222 195000 5.542.440 TOTAL DEBT SERVICE 704.929 207 671 17 140 771 TRANSFER TO SMPG MD II FOR DEVELOPER NO 1 MD G.O.BONDS OUTSTANDING @ 12/31 ]85.2.%2 2 2 IBM TRANSFER OF BOND ISSUANCE(ESTIMATED @ 4%) TRANSFER TO SMPG MD II FOR DEVELOPER NOTE REDEMPTIONS 2 9 6 160 000 UDE TOTAL EXPEND INCLUDE DEBT SERVICE&NOTE COSTS OF BOND ISSUANCE(ESTIMATED @ 4%) 2 2 344324 ION EXCESS REVENUES&BONDS OVER EXPENDITURES TOTAL EXPEND INCLUDE DEBT SERVICE&NOTE REDEMPTIONS BRAS 496 707 32.2501¢4 BEGINNING FUNDS AVAILABLE-JANUARY 1 IOU EXCESS REVENUES&BONDS OVER EXPENDITURES 72950 212222 J 119 950 E ENDING FUNDS AVAILABLE-DECEMBER 31 SLR RESTRICTED CAPITALIZED INTEREST BEGINNING FUNDS AVAILABLE-JANUARY 1 442453 222923 2 CEO UNRESTRICTED ENDING FUNDS AVAILABLE•DECEMBER 31 525921 1 112955 1 119 955 SST, TOTAL G.O.BONDS OUTSTANDING a 12/31 RESTRICTED CAPITALIZED INTEREST 2 2 2 PING 0.0.BONDS OUTSTANOINO/A59E55lD VALUE UNRESTRICTED 525,023 1 119 951 1 119 945 TOTAL G.O.BONDS OUTSTANDING @ 12131 195,000 0 C.O.BONDS OUTSTANDING/ASSESSED VALUE 0.76% , d DI 544 Consultants Report and Disdalmer See Consultant's Report and Disclaimer 19 Exhibit C-.Financing Plan(FINAL).xls8/30/0410:02 AM EXNIEIT VI(FINANCING DISTRICT) SMPG METROPOLITAN DISTRICT SF CASH FLOW FORECASTS•DEBT SERVICE FUND WORKING DRAFT,AUGUST27.2004 FOR THE YEARS ENDING DECEMBER 31,2004 THROUGH 2044 PRELIMINARY,SUBJECT TO CHANGE SILLESIUMM22/1 2444 244E 244E 2222 244E 244E 2414 2911 nu 2412 2414 2414 241E ASSESSED VALUATION(SCH.5) 2 4 2 2 9 9 2 9 2 2 ]949(!9 2,9.444 1 254 en MILL LEVY 999 4.44 4.49 900 =4 4.2M 9499 1212 14.44 4499 NM 44.44 49.00 INCREMENTAL RESIDENTIAL UNITS ADDED 2 2 2 9 Q 9 2 2 2 2 2 242 2l CUMULATIVE RESIDENTIAL UNITS 2 2 2 2 9 2 2 2 2 2 2 244 19Z INCREMENTAL SQUARE FEET OF NONRESIDENTIAL SPACE 9 9 9 2 2 2 2 2 2 9 9 9 4 CUMULATIVE SQUARE FEET OF NONRESIDENTIAL SPACE 9 2 2 9 9 9 9 9 2 9 9 9 9 CASH FLOW RFEVEMS 2441 2941 2444 2222 2444 2444 2414 2411 all 29]2 MA nu 241E PROPERTY TAXES 0 0 0 0 0 0 0 0 0 0 4,000 10,000 50,225 SPECIFIC OWNERSHIP TAXES 0 5%OF PROPERTY TAXES 0 0 0 0 0 D 0 0 0 0 200 500 2,511 GENERAL OBLIGATION BOND ISSUES(NONRATED) 0 0 0 0 0 0 0 0 0 0 0 0 INTEREST EARNINGS 02%OF BEGINNING FUNDS 9 9 4 9 9 9 4 4 9 9 9 92 12Z TOTAL REVENUES 2 2 9 9 9 2 2 9 9 2 12112 19942 12111 FXPENDITIIRPS COUNTY TREASURER 3.5%COLLECTION FEE 0 0 0 0 0 0 0 0 0 0 120 30D 1,501 ACCOUNTINGS AUDIT 0 0 0 0 0 0 1,000 1,000 IGA PAYMENT TOSMPG MD 01(SERVICE DISTRICT)O 10 MILLS 9 2 9 9 9 2 2 9 9 2 1299 2.491 1U9 TOTAL EXPENDITURES EXCLUDING DEBT SERVICE 9 9 9 9 9 9 9 2 4 9 1129 2499 119422 GENERAL OBLIGATION BONDS DEBT SERVICE: SERIES 12(112011$1,210,0000 5.5% INTEREST 0I.S% 0 0 0 0 0 0 0 0 0 0 0 0 0 PRINCIPAL REDUCTION 2 2 4 4 9 9 9 4 2 9 4 2 9 TOTAL DEBT SERVICE 4 9 4 2 9 9 2 2 2 4 2 9 2 G.O.BONDS OUTSTANDING 01201 . 9 9 9 9 9 2 9 9 4 9 4 9 9 TRANSFER TO SMPG MD N FOR DEVELOPER NOTE REDEMPTIONS 0 2 9 2 2 9 9 9 2 9 2 9 2 9 COSTS OF BOND ISSUANCE(ESTIMATED 0 4%) 9 2 4 9 2 2 2 2 2 2 2 9 2 TOTAL EXPEND INCLUDE DEBT SERVICE&NOTE REDEMPTIONS 9 9 9 2 9 2 9 9 2 4 1.122 1.219 12991 EXCESS REVENUES S BONDS OVER EXPENDITURES 0 9 9 4 2 9 9 9 9 2 1.429 11§2 P 879 BEGINNING FUNDSAVAILABLE-JANUARY( 9 9 9 9 2 9 9 9 2 9 9 4929 2.252 ENDING FUNDS AVAILABLE•DECEMBER 31 9 9 4 9 4 2 9 9 4 2 2919 2142 47,112 RESTRICTED CAPITALIZED INTEREST 2 4 4 2 9 4 9 9 4 9 9 9 9 UNRESTRICTED 9 9 9 9 9 2 2 9 4 9 9999 2942 SL212 TOTAL G.O.BONDS OUTSTANDING 012/31 0 0 G.O.BONDS OUTSTANDING/ASSESSED VALUE 0.00% 0,00% See Consultants Report and Disclaimer 20 Exhibit C-Financing Plan(FINAL).xls8/30/0510:02 AN I EXHIBIT VI(FINANCING DISTRICT) SMPG METROPOLITAN DISTRICT SI CASH FLOW FORECASTS•DEBT SERVICE FUND FOR THE YEARS ENDING DECEMBER 31,2001 THROUGH 2041 KEYASSUA7PTIONB 7112 241E 221E 2422 2421 3232 2232 2224 242 2421 2221 247E 742! ASSESSED VALUATION(SCH.6) 7 235 334 1112 .104 15012.386 15012.389 15.312.614 15,312 614 15618 665 15618 889 15 011241 15.431 243 16 249 004 18.249 389 16 574 665 MILL LEVY 51.41 52.41 52.42 al& 4492 4294 1492 NM 4222 4494 94&4 4994 5422 INCREMENTAL RESIDENTIAL UNITS ADDED 214 Q Q 0 9 9 9 9 9 9 2 9 9 CUMULATIVE RESIDENTIAL UNITS IIS 22,1 221 221 IL Z71 221 271 RS m 2711 271 721 INCREMENTAL SQUARE FEET OFNON,RESIDENTIAL SPACE 2 2 2 9 9 9 2 2 9 0 9 2 9 CUMULATIVE SQUARE FEET OF NONRESIDENTIAL SPACE 2 2 2 9 2 2 2 9 9 2 2 Q Q GASH ROW BMW= a a 3412 2414 291! 2222 2421 3432 2423243E 3222 a 742E PROPERTY TAXES 289,414 445004 600.495 600,495 612,505 612.505 024,755 624,755 637,250 637,250 649,995 849,995 662,995 SPECIFIC OWNERSHIP TAXES Q S%OF PROPERTY TAXES 11,471 22,250 30,025 30,025 30,825 30,625 31238 31.238 31,882 31,882 32,500 32,500 33,150 GENERAL OBLIGATION BOND ISSUES(NONRATED) 0 6250,000 0 0 0 0 0 0 0 0 0 0 0 INTEREST EARNINGS 02%OF BEGINNING FUNDS 254 5410 14,542 13 241 13157 11114 12277 12912 11113 11223 11.7714 11165 12112 TOTAL REVENUES 2592 *22221 94121 1}5,321. 22,212 855.824 /6617Q 21.22 12125 112111 1@4,20 129422 708312 121.11191119311 COUNTYTREASURER 3.0%COLLECTION FEE 8,682 13,350 18,015 18,015 18,375 15375 18,743 18,743 10.117 19,117 19.500 19,500 19.890 ACCOUNTING Si AUDIT 1.000 1,000 1,000 1,000 1,000 1,000 1,000 1,000 1.000 1,000 1.000 1,000 1,000 IGA PAYMENT TO MPG MD II(SERVICE DISTRICT)Q 10 MILLS 7212 111.751 150121 153125 153128 153.126 12,11! 31¢.114 151912 151912 142.1111 182.499 165 749 TOTAL EXPENDITURES EXCLUDING DEBT SERVICE 12,22 175 601, 169 136 169 139 172 501 172 501 175 931 175 931 172422 122,492 ]13922 12.221 11212 GENERAL OBLIGATION BONDS DEBT SERVICE: SERIES W1/2015 0,250,000 0 BA% INTEREST 059% 0 0 406,250 399,425 391,250 384,150 375,700 388,925 357,500 347,425 336,700 325325 313,300 PRINCIPAL REDUCTION 9 2 195444 111.494 128.224 12.E 115.E 141.991 155942 115944 121.0129 125.992 219.92 TOTAL DEBT SERVICE 2 9 51125Q 25421 129(8 24119 2512 121221 22.22 22421 541799 509321 42.29 G.O.BONDS OUTSTANDING 012131 2 522,9'9 1145009 5930009 5@1292 512992 5145944 5.0421 534144 .780.000 52520 4.12=4 492222 TRANSFER TO SMPG MD PI FOR DEVELOPER NOTE REDEMPTIONS 2 1109 200 2 Q 2 2 2 2 2 Q 2 2 2 COSTS OF BOND ISSUANCE(ESTIMATED 04%) 2 24522 2 2 2 2 2 9 2 9 2 2 9 TOTAL EXPEND INCLUDE DEBT SERVICE&NOTE REDEMPTIONS 17931 1270801 280 389 127,24 67945% 676651 08163% 577 658 231230 881855 194.292 003324 884138 EXCESS REVENUES S BONDS OVER EXPENDITURES 33221 452.063 115421 529 3011 023.119) (241211 113.3621 11.554) 11995) IQ21 5122 11131 21914 BEGINNING FUNDS AVAILABLE-JANUARY 1 4L212 270514 722 579 882480 557 859 135115 112112 12221 22152 22442 21.892 590201 195424 ENDING FUNDS AVAILABLE•DECEMBER 31 270514 222 579 2212 15.22 139195 913 867 2222 512152 22291 21112 25212 19@429 612 722 RESTRICTED CAPITALIZED INTEREST 2 9 9 2 9 9 9 9 9 2 9 2 9 UNRESTRICTED 270514 722 578 987199 151158 134.115 913.867 82.21 192112 25142 21122 598257 21494 131221 TOTAL 6.0.BONDS OUTSTANDING 012/31 0 6,250.000 6,145,000 6,030,000 5,910,000 5,780,000 5.645,000 5,500,000 5,345,000 5,180,000 5,005,000 4.820,000 4.820,000 6.0.BONDS OUTSTANDING/ASSESSED VALUE 0.00% 41.83% 40.93% 39.36% 38.80% 37.01% 38.14% 31.52% 33,55% 31.68% 30.60% 29.08% 27.87% See Consultants Report and Dlacialmer 21 Exhibit C-Financing Plan(FINAL).sls8/30/0410:02 AM EXHIBIT VI(FINANCING DISTRICT) SMPO METROPOLITAN DISTRICT SI CASH FLOW FORECASTS.DEBT SERVICE FUND FOR THE YEARS ENDING DECEMBER 31,2004 THROUGH 2044 PEYASSUM°TIONE 3274 2233 2433 221,1 2434 343E 2931 2432 323E 2422 2244 2241 2942 ASSESSED VALUATION(SCH.5) 18.474.2&' 16 906 361 19.@92.253 17.24440Q 17.241438 11.$@8,322 17,244.338 17 941 167 17 941 187 16290901 10290991 180859991 18 665991 MILL LEVY 44.92 42A2 44.94 42.44 42.22 49.22 4992 4892 49.04 44,01 42.92 44.44 40.92 INCREMENTAL RESIDENTIAL UNITS ADDED 2 2 9 2 9 2 9 9 2 9 2 2 2 CUMULATIVE RESIDENTIAL UNITS all 271 771 711 221 211 83 711 211 271 211 211 211 INCREMENTAL SQUARE FEET OF NONRESIDENTIAL SPACE 2 2 2 2 2 9 2 9 9 0 9 2 2 CUMULATNE SQUARE FEET OF NONRESIDENTIAL SPACE 9 9 9 9 Q 2 9 9 9 9 9 9 2 CASH Fl OW g9VENIIF3 2222 2231 2273 2911 2274 3213 243E 2212 321! 2434 2242 2241 2242 PROPERTY TAXES 802,995 878.255 876,255 889,780 689,780 703,575 703,575 717,647 717,847 732,000 732,000 748,840 748,840 SPECIFIC OWNERSHIP TAXES 06%OF PROPERTY TAXES 33,150 33,813 33.813 34,489 34.489 35.179 35,179 35,882 35.882 36,600 38.8W 37,332 37,332 GENERAL OBLIGATION BOND ISSUES(NONRATED) 0 0 0 0 0 0 0 0 0 0 0 0 0 INTEREST EARNINGS m 2%OF BEGINNING FUNDS 12.959 1.D 11912 14442 1212 16527 17733 19.441 20391 22322 24.122 24.222 22.242 TOTAL REVENUES 2222➢2 223192 223.094 738 815 22222 755 281 756467 772.,572 774.123 28.922 792722 210047 912274 {VENOITURES COUNTY TREASURER 3.0%COLLECTION FEE 19,890 20,288 20,288 20,693 20,693 21,107 21,107 21,529 21,529 21,960 21.960 22,389 22,399 ACCOUNTING&AUDIT 1,000 1,000 1.000 1,000 1,000 1,000 1,000 1,000 1,000 1,000 1,000 1,000 1.000 IGA PAYMENT TO SMPG MD 01(SERVICE DISTRICT)016 MILLS 165 749 12$424 128.924 172 445 172 445 122@94 129.284 179412 179,412 123.238 M92 199122 112 .244 TOTAL EXPENDITURES EXCLUDING DEBT SERVICE 138.23H 190351 190.351 18419 194138 122.21 39@.921 291941 291941 202992 294@2 '110059 319284 GENERAL OBLIGATION BONDS DEBT SERVICE: SERIES 17/1/2011 51,26.000 CO 5.6% INTEREST 06.6% 300,300 285,5550 272,025 258,425 239,850 221,975 203,125 182,975 161,525 138,775 114.400 88,400 80.775 PRINCIPAL REDUCTION 210422 229.038 249.994 249.229 214 000 200497 914,924 220292 220382 329.992 492992 422924 454.490 TOTAL DEBT SERVICE 492,395 4922992 481.425 496 422 494.599 494@7$ 493122 492975 441525 488 775 499.49& 451490 42489 G.O.BONDS OUTSTANDING O 12/31 4.410.292 4.185000 3942922 3.292.432 3415.993 1175 000 2.916382 2.483f@4 2.145.W9 1209922 1.329429 LI= 455.929 TRANSFER TO SMPG MD SI FOR DEVELOPER NOTE REDEMPTIONS 9 9 Q 2 9 2 2 2 2 2 2 2 2 • COSTS OF BOND ISSUANCE(ESTIMATED 04%) 2 9 2 2 2 2 2 2 2 2 2 2 9 TOTAL EXPEND INCLUDE DEBT SERVICE 0 NOTE REDEMPTIONS 224812 222.921 987 374 990 561 281599 984879 991 124 284,812 483422 984129 2$4338 296 459 693994 EXCESS REVENUES B BONDS OVER EXPENDITURES 21@42 39J55@ 96 507 41252 99182 60 30@ 25221 7.1954 22452 84222 81.394 111222 111445 BEGINNING FUNDS AVAILABLE•JANUARY I 932 794 254.259 038.218 222.324 775.578 928 37p 689904 952.222 1925.992 1 110 347 1908414 1 303 784 1,415374 ENDING FUNDS AVAILABLE-DECEMBER31 454.252 890619 727 324 775 575 526 379 088 674 252.54 1029690 1110,347 1,292434 1 303 784 1412175 1.611 820 RESTRICTED CAPITALIZED INTEREST 9 9 2 2 2 2 2 2 9 2 2 UNRESTRICTED 554.252 690 819 222.2245 775 575 428 370 986 674 252.274 1922238 1 110 347 1306 41@ 1221,705 1 415 37@ 1 531 62Q TOTAL G.O.BONDS OUTSTANDING 012/31 4,410,000 4,105,000 3,945,000 3,890,000 3,415,000 3,125,000 2,816,000 2,485,000 2,135,000 1,700,000 1,380,000 935,000 485,000 0,0.BONDS OUTSTANDING/ASSESSED VALUE 26.08% 24.75% 22.88% 21.40% 19.42% 17.77% 15.89% 13.85% 11.87% 0.82% 7.29% 5.01% 2.55% • • See Consultants Report and Disclaimer 22 Exhibit C•Financing Plan(FINAL)xU8/30/0410:02 AM EXHIBIT VI(FINANCING DISTRICT) SMPG METROPOLITAN DISTRICT SI CASH FLOW FORECASTS-DEBT SERVICE FUND FOR THE YEARS ENDING DECEMBER 31,2004 THROUGH 2044 KEY ASSUMPTION ZOTAt3 ASSESSED VALUATION(SCH.I) 1903931Q 19039310 MILL LEVY 12.22 SOD INCREMENTAL RESIDENTIAL UNITS ADDED Q Q j]I CUMULATIVE RESIDENTIAL UNITS ZZl ZZ3 121 INCREMENTAL SQUARE FEET OF NON•RESIDENML SPACE Q Q 9 CUMULATIVE SQUARE FEET OF NON-RESIDENTIAL SPACE 9 Q Q CASH FLOW REVFIF III 293 2144 TOTALI PROPERTY TAXES 781,572 761,672 18.429,584 SPECIFIC OWNERSHIP TAXES 05%OF PROPERTY TAXES 36.079 38,079 921,478 GENERAL OBLIGATION BOND ISSUES(NONRATED) 0 0 5250,000 INTEREST EARNINGS@ 2%OF BEGINNING FUNDS 59.89@ 43327 452,249 TOTAL REVENUES S)2,2QZ 23217.1 25053732 PXPPNDITIIRFR COUNTY TREASURER 3.0%COLLECTION FEE 22,847 22,847 552,887 ACCOUNTING AUDIT 1,000 1,000 30,000 IGA PAYMENT TO SMPG MD/1(SERVICE DISTRICT)010 MILLS 192.300 122.303 460739t TOTAL EXPENDITURES EXCLUDING DEBT SERVICE 214 240 214.240 5199276 GENERALOSLIGATION BONDS DEBT SERVICE: SERIES 1211/2018$1,200,000 01.S% INTEREST 01.5% 31,525 I 6.583,315 PRINCIPAL REDUCTION 495,E Q 8.259,9x,2 TOTAL DEBT SERVICE MIX 9 12613375 O.O.BONDS OUTSTANDING 012/31 Q Q Q TRANSFER TO SMPG MD 01 FOR DEVELOPER NOTE REDEMPTIONS Q 4 9@99212 COSTS OF BOND ISSUANCE(ESTIMATED 0 4%) Q Q 255,499 TOTAL EXPEND INCLUDE DEBT SERVICE&NOTE REDEMPTIONS QQ522 214 240 24 148 851 EXCESS REVENUES S BONDS OVER EXPENDITURES ]45,522 918 734 2295.079 BEGINNING FUNDS AVAILABLE•JANUARY I 3.591.529 3,809242 Q ENDING FUNDS AVAILABLE-DECEMBER31 £849242 2 285 079 226507Q RESTRICTED CAPITALIZED INTEREST Q UNRESTRICTED 866 342 2,232222 2785072 TOTAL G.O.BONDS OUTSTANDING 012/31 0 0 0.0.BONDS OUTSTANDING/ASSESSED VALUE 0.00% • See Consultants Report and Disclaimer 23 - Saha(C.Financing Plan(FINAL).xls6/30/0410:02 AN SCHEDULE 14FINA&IOING DISTRICT) SMPG METROPOUTAN DISTRICT a PROJECTED ASSESSED VALUATION•SUILOOUT WORKgMDRAFT.AUGUST 27,2004 FOR THE YEARS ENDING DECEMBER 31,2004 THROUGH 2014 PRELIMINARY.SUBJECTTO CHANGE BUIL0O1T•Source:Sag D1velopm.nl Group: Planned Average Total Number Per Unit Gross Unit peacrtpaln MUM 511999 SSA Yeas 2441 244! 224! 1221 222! 249! 2414 2411 2412 2113 241! 19161. RaINMItl Wt PA 1 Mull Fin* 100 147,133 14,733.300 8 92 0 100 PA 2 Slmila Family It 232.105 9.515,305 24 17 0 41 PA SIIa4 FWI1 62 192285 11.920,430 38 20 0 62 PA 3 Simla Family 48 215,147 10,327.038 28 20 0 48 PA 380GIe Fr*/ 50 255.041 15,047.419 34 2 0 59 PA4SIFG4 Family 113 232.105 26227.865 35 4 29 113 PA 5 Menlo Family 45 299207 13,783.522 27 1 0 48 PA S Single Fancy 14 338.375 - 4.740,050 8 0 14 PA Single Fang/ 34 338,515 11,511.550 20 1 0 31 PA?Male Family 12 ]82,020 4,564,240 0 12 PA B Slept*Famly 41 299,207 12,257.467 2 17 41 v9 SingleFamily 21 192,283 4.037.555 1 9 21 s 9 Simla Family 11 215.147 2.305.617 5 11 PA 10 Single Fondly 12 215,147 2,551,754 5 12 PA 10 Single Family 72 290207 21.542,904 42 30 72 PA11Single Family 44 215.147 9.106.418 25 19 44 PA 11 Single Fatally 41 255041 10.456,681 37 0 41 PA 12 Town Home 42 184,144 5094.048 2 18 0 42 PA 13 Town Home 88 164,144 14,444,872 73 15 88 PA 13 Single Family 15 102265 2.583,975 6 0 15 PA 13 SIn9M Family 58 232.105 13.382090 34 24 58 PA 13 angle Family 17 299,207 5,006.10 10 1 17 PA 14 Simla Fo* iS 299,207 4,488,105 9 5 15 PA 14 Slagle Family 43 138,575 14,558,725 7 38 43 PA 14 Single Family 22 352.024 14489190 12 21 14 Tots RemMntS•Oven, 1088 29.8]2 281,808,137 212 341 332 121 1,494 Total RnMaAa•Canal 1088 0 _ al's 508 a 1a la 1088 1 08 11088 10x88 1065 Non RerdntSI 80.FL: 2 122 0 2 0 0 0 0 0 0 0 0 0 0 0 (Cumulative) 0 0 2 0 2 D 2 2 2 0 2 2 2 Tot Value•Entire Project 201,808.137 Aqua Values: Rlaldetal Living Units 0 0 55,194,658 79,421,098 78,938,727 40,343,554 1,910,100 0 0 0 0 261.806,137 Commercial Properly 0 0 0 0 0 0 0 0 0 0 0 0 Vacant Lad 4 4.222.222 LA2➢.222 14499.541 (4.EN.091 2 2 2 2 2 2 0 Total Actual Values 4 L99LItl4 39.194038 1$.121.1@2 74938727 461435„5( 191110 4 4 4 4 251208117 Tea Actual Values•Cumulative 4 MUM 51.184414 13B515T59 .21335„02 "59898037 1$1808137 201.806137 251505137 281805137 251505/37 281808137 Assessed Valuer. RealGWalINaG UNMQ 1.90%olAquY Value 0 4,393,495 8.321.919 8283.523 3.688,917 152,044 0 0 0 0 20,830,928 Colvnvds Property 2329%c(Actual Value 0 0 0 0 0 0 0 0 0 0 0 Vacant Lando 29%of Actual Wan 1.192.014 1.124.E 11180ow) 11 leo 0001 2 2 2 2 2 2 2 Total/usesed Valves L1ffi.09 9a419 OjaitW@ 9121&23 AMIRO 152044 2 2 9 2 22.112.221 Total Assessed Vaues•Cumulative 11.12.E2 8/11.4.91 11.875414 18 996 937 2944LIN 20.639522 29.47982@ 22520324 22.918.225 24139.821 24.91$$ffi Total Aeessmd Values•Cum,2%BNnnlal Net Increases afar 2008 1120.442 9713495 11 875 414 17 335 918 21 101 641. 21081851 21.611 881 22,115 422 22.115.409 21531.91'9 2LOLIII Year Asaesnd Valuation Certified To SMSPG MO 52 2005 2008 2007 2038 2009 2010 2011 2012 2013 2014 2015 Year Taxes ReesNed By SMPG MD r2 2008 2007 2008 2009 2010 2011 2012 2013 2014 2015 2015 See Consultant's newt and Disclaimer 24 Erna*C-rimming Fan(FINAL).ds 8/30/0410:02 AM SCHEDULE 2(FINANCING DISTRICT) SMPG METROPOLITAN DISTRICT 03 PROJECTED ASSESSED VALUATION•BUILDOUT ',MAKING DRAFT.ALVUSTIt 1004 FOR THE YEARS ENDING DECEMBER 31.2004 THROUGH 2014 nRELJAI RY..SUBJECT GMIMM BUILDOUT•Source:Sage Development Group: Planned Average Total Number Per Unit Gross Unit • yescriotlon of Un of Unitt Price Volume 2224 22O 2Q44 2442 2000 2222 2114 2411 2212 2212 2214 Residential Units PA 1 Mule Family 136 147,333 20,037,288 0 0 0 0 0 45 45 48 0 0 0 PA 1 Town Home 110 164,144 18,055,840 0 0 0 0 0 36 37 37 0 0 0 PA 2 Single Family 44 255,041 11,221,804 0 0 0 0 0 14 15 15 0 0 0 PA 2 Single Family 88 299,207 26,330,216 0 0 0 0 0 29 29 30 0 0 0 PA 3 Town Home 52 164,144 8,535,488 0 0 0 0 0 17 17 18 0 0 0 PA 3 Single Family 45 192,265 8,651,925 0 0 0 0 0 15 15 15 0 0 0 PA 3 Single Family 46 215,147 9.896,762 0 0 0 0 0 15 15 18 0 0 0 PA 4 Single Family 28 215,147 6,024,118 0 0 0 0 0 9 9 10 0 0 0 PA 4 Single Family 47 232,105 10,908,935 0 0 0 0 0 16 16 15 0 0 0 PA4 Single Family 147 255,041 37,491,027 0 0 0 0 0 49 49 49 0 0 0 PA 5 Town Home 184 164,144 30,202,498 0 0 0 0 0 61 61 82 0 0 0 PA 5 Single Family 38 299,207 11,369,866 0 0 0 0 0 12 13 13 0 0 0 PA 5 Single Family 5 338,575 1.692,875 0 0 0 0 0 1 2 2 0 0 0 PA 6 Single Family 43 255,041 10,986,763 0 0 0 0 0 14 14 15 0 0 0 PA 6 Single Family 92 299,207 27,527,044 0 0 0 0 0 30 31 31 0 0 0 PA Single Family 3Q 338575 12 865 85Q Q 4 2 2 2 12 13 13 Q 4 2 Total Resideneal-Incren 1143 220,278 251,778,295 Q Q Q 4 2 VI 301 381 Q Q Q Total Residential-Cumul 11143 0 0 0 0 0 375 756 11143 1,143 11143 1,143 Non Residential Sq.Ft.: 0 100 0 0 0 0 0 0 0 0 0 0 0 0 (Cumulative) 0 0 0 0 0 0 0 0 0 0 0 0 Total Value-Entire Project 251,778,295 Actual Values: Residential Living Units 0 0 0 0 0 82,386,913 84,081,662 85,309,720 0 0 0 Commercial Property 0 0 0 0 0 0 0 0 0 0 0 Vacant Land Q 2 Q 4 4,000.000 4 000 000 14,000.0001 (40000001 Q Q 4 Total Actual Values Q 9 2 Q 4.000.000 86386.913 00.081 662 01 309 720 Q 9 9 Total Actual Values•Cumulative Q Q 2 Q 4.000.000 90.386.91$ itstattn## #41O4O4## 11#O41#40141 s######## ######### Assessed Values: Residential Living Units @ 7.96%of Actual Value 0 0 0 0 0 6,557,998 6,692,900 6,790,654 0 0 0 Commercial Property @ 29%of Actual Value 0 0 0 0 0 0 0 0 0 0 0 Vacant Land @ 29%of Actual Value 9 2 9 Q 1,160,000 1 160 00Q (1.160 0001 11 160 0001 4 0 9 I Total Assesed Values 9 9 4 9 1 160 OOQ 7,717,998 5 517,900 0.630.654 9 Q 9 Total Assessed Values-Cumulative Q 9 Q 0 1 160 000 8.877,998 14 410 Reg 20.041,557 20.041 559 20.041.552 20,041.552 Total Assessed Values-Cum.2%Biennial Net Increases after 9 9 9 9 1 183.200 9.055.558 14 993 099 20,851.231 21 268 25Q 21 268.256 21 893 621 Year Asseesed Valuation Certified To SMPG MD#3 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 Year Taxes Received By SMPG MD#3 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 See Consultant's Report and Disdalmer 25 Exhibit C•Financing Man(FINAL).xis6/30/0410:02 AM SCHEDULE 2(FINANCING DISTRICT) SMPG METROPOLITAN DISTRICT 13 PROJECTED ASSESSED VALUATION•BUILDOUT FOR THE YEARS ENDING DECEMBER 31,2004 THROUGH 2014 BUILDOUT-Source:Sage Development Group: Planned Average Total Number Per Unit Gross Unit yescriotion of Ut yf Units Price Volume TOTAL Residential Units PA 1 Multi Family 136 147333 20,037,288 138 PA 1 Town Home 110 164,144 18,055,840 110 PA 2 Single Family 44 255,041 11,221,804 44 PA 2 Single Family 88 299,207 26,330,216 88 PA 3 Town Home 52 164,144 8,535.488 52 PA 3 Single Family 45 192,285 8,851,925 45 PA 3 Single Family 46 215,147 9,896,762 46 PA 4 Single Family 28 215,147 6,024,116 28 PA 4 Single Family 47 232,105 10,908,935 47 PA 4 Single Family 147 255,041 37,491.027 147 PA 5 Town Home 184 184,144 30,202,496 184 PA 5 Single Family 38 299,207 11,369.866 38 PA 6 Single Family 5 338,575 1.692,875 5 PA 6 Single Family 43 255,041 10,966,783 43 PA 6 Single Family 92 299,207 27,527,044 92 PA 8 Single Family ,3 338,57$ 17,865 850 38 Total Residential-incran 1,143 220,278 251,778,295 1.143 Total Residential-Cumul L143 1,143 Non Residential Sq.Ft.: 0 100 0 0 (Cumulative) 0 0 Total Value-Entire Protect 251,778,295 Actual Values: Residential Living Units 251,778,295 Commercial Property 0 Vacant Land 0 Total Actual Values 251.778 295 Total Actual Values-Cumulative 751 778,2Qq Assessed Values: Residential Living Units @ 7.98%of Actual Value 20,041,552 Commercial Progeny @ 29%of Actual Value 0 Vacant Land®29%of Actual Value Q Total Assesed Values 20.041.552 Total Assessed Values•Cumulative 20.041.552 Total Assessed Values-Cum.2%Biennial Net Increases after 21 693.671, Year Assessed Valuation Certified To SMPG MD a3 Year Taxes Received By SMPG MD N3 See Consultants Report and Disdalmer 26 Exhibit C Financing Plan(FINALLFIs8/30/0410:02 AM SCHEDULE 3(FINANCING DISTRICT) SMPG METROPOLITAN DISTRICT 94 PROJECTED ASSESSED VALUATION•BUILDOUT WORKING DMA,AUW SI27.8004 FOR THE YEARS ENDING DECEMBER 31,2004 THROUGH 2029 •auseaur,suavecr to CHANGE BUILDOUT•Source:Sags Development Group: Planned Average Total Number Per Sq Ft Gross pescrlotlon of Una of So Ft Actual Valli( Actual Value 2994 2221 299f 2442 2494 (216@ 2434 2211 2412 ?an 2114 1214 Residential Unite Total Residential-Incram 0 0 9 0 2 2 Q Q 4 2 9 2 0 2 Total Residential-Cumuli 0 0 0 0 0 0 0 0 0 0 0 0 0 .on-Residential Space PA 1 RETAIL 500O00 85.00 42,500,000 0 0 0 0 0 0 37,500 37,500 58,250 58,250 75,000 106,250 PA 4/8 RETAIL 150,000 85.00 12,750,000 0 0 0 0 0 0 12,500 12,500 18,750 18,750 25.000 18,750 P4,5+4/f OFFICE 300,000 100.00 30,000,000 0 0 0 0 0 0 10.000 10,000 10,000 10,000 10,000 20.000 PA 1s OFFICE 450,000 100.00 45,000,000 0 0 0 0 0 0 15,000 15,000 15,000 15.000 15,000 30,000 PA 1s INDUSTRIAL lAtAWa,C: 50.00 87,000,000 0 0 0 0 0 0 40,000 40,000 40,000 40,000 40,000 80,000 PA 2s INDUSTRIAL 320,000 50.00 18,000,000 0 0 0 0 0 0 10,000 10,000 10,000 10,000 10,000 15.000 Non Residential Sq.FL: Ig101flpp8t 70 213,250,000 0 0 0 0 0 0 125,000 125O00 150 000 151000 175,000 250,000 (Cumulative) 0 0 0 0 0 0 1250000 25O000 400.000 550,000 725O00 975` Total Value-Entire Project 213,250,000 Actual Values: Residential Living Units 0 0 0 0 0 0 0 0 0 0 0 0 Commercial Property-Retail 0 0 0 0 0 0 4,250,000 4,250,000 8,375,000 6,375,000 8,500,000 10,625,000 Commercial Property-Office 0 0 0 0 0 0 2,500,000 2,500,000 2,500,000 2,500,000 2,500,000 5,000,000 Commercial Property-Industrial 0 0 0 0 0 0 2,500,000 2,500,000 2,500,000 2,500,000 2,500.000 3,750,000 /scant Land 0 2 0 Q 0 4,000,000 2 2 0 Q 0 0 Total Actual Values 9 0 0 0 0 4000.000 9,250,000 9,250.000 11.375.000 11.375,000 13,500,000 19,375.000 Total Actual Values•Cumulative g 9 0 Q Q 4 000.001 13.250 00Q 77 500 000 33 875,000 45 250 000 58,750.000 78175 00Q Assessed Values: Residential Living Units @ 7.98%of Actual Value 0 0 0 0 0 0 0 0 0 0 0 Commercial Property -Retail®29%of Actual Value 0 0 0 0 0 0 1,232.500 1,232,500 1,848,750 1,848,750 2,465,000 3,081,250 Commercial Property -Office @ 29%of Actual Value 0 0 0 0 0 0 725,000 725,000 725,000 725,000 725,000 1,450,000 Commercial Property •Industrial @ 29%of Actual Value 0 0 0 0 0 0 725,000 725,000 725,000 725,000 725,000 1,087,500 Vacant Land @ 29%of Actual Value 0 0 0 2 0 1,160 000 2 2 2 2 2 2 Total Assesed Values 2 2 0 2 Q 1 160.000 2,687 500 2 882,500 ?,298.750 ,1,298 750 3 915,000 5 R18,750 Total Assessed Values-Cumulative 0 0 0 2 2 1.160.000 0,642.500 p.575.000 8.873,TJ0 13.122.500 17037.500 77 058 25Q Total As d Values•Cum.2%Biennial Net Increases after 20( 9 2 0 9 0 1.183 200 3 997,737 6 788.610 10 425 042 13 925.702 18,441 938 24 523.854 Year A d Valuation Certified To SMPG MD 14 2005 2008 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 Year Taxes Received By SMPG MD#4 2008 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 See Consultant's Report and Disclaimer 27 Exhibit C-Flnandne Plan(FiNAL).xls/3/30/0410:02 AM SCHEDULE 3(FINANCING DISTRICT) SMPG METROPOLITAN DISTRICT#4 PROJECTED ASSESSED VALUATION•BUILDOUT FOR THE YEARS ENDING DECEMBER 31,2004 THROUGH 2029 BUILDOUT-Source:Saga Development Group: Planned Average Total Number Per Sq Ft Gross Description of Unli gt Sa Ft Actual Valu1 Actual Value 2412 pin 2412 2912 242.9 2221 2472 2922 2924 2921 2,223 2121 ]fig Residential Unit Total Residential-Inuem 0 0 4 4 4 4 4 0 4 9 4 9 4 0 9 Total Residential-Cumult 0 0 0 0 0 0 0 0 0 0 0 0 0 0 ;n-Residential Some PA 1 RETAIL 500,000 85.00 42,500,000 131,250 0 0 0 0 0 0 0 0 0 0 0 0 PA 4/6 RETAIL 150,000 85.00 12,750,000 43,750 0 0 0 0 0 0 0 0 0 0 0 0 PM+4/E OFFICE 300,000 100,00 30,000,000 20,000 20,000 20,000 20,000 30,000 30,000 30,000 30,000 30,000 0 0 0 0 PA 1s OFFICE 450,000 100.00 45,000,000 30,000 30,000 30,000 30,000 45,000 45,000 45,000 45,000 45,000 0 0 0 0 PA 1s INDUSTRIAL >0' ## 50.00 87,000,000 80,000 80,000 60,000 60,000 80,000 80,000 80,000 80,000 80,000 80.000 80,000 80,000 80,000 PA 2s INDUSTRIAL 320,000 50.00 16,000,000 15,000 15,000 15,000 15,000 20,000 20,000 20,000 20,000 20,000 20,000 20,000 20,000 20,000 Non Residential Sq.FL: tNtItIMAS 70 213,250,000 300 000 1,000 126000 125,000 175,000 175,000 176000 176000 175,000 106000 100,000 100,000 100,000 (Cumulative) 1,275,000 1,400,000 1,525,000 1,850,000 1,825,000 2000,000 2,175,000 2,350,000 2,525,000 2625,000 2,725,000 2,825,000 2,925,000 Total Value-Entire Project 213,250,000 Actual Values: Residential Living Units 0 0 0 0 0 0 0 0 0 0 0 0 Commercial Property-Retail 14,875,000 0 0 0 0 0 0 0 0 0 0 0 Commercial Property-Office 5,000,000 5,000,000 5,000,000 5,000,000 7,500,000 7,500,000 7,500,000 7,500,000 7,500,000 0 0 0 Commercial Property-Indusmal 3,750,000 3,750,000 3,750,000 3,750,000 5,000,000 5,000,000 5,000,000 5,000,000 5,000,000 5,000,000 5,000,000 5,000,000 5,000,00 avant Land 2 4 2 2 2 2 4 4 4 2 4 4 Total Actual Values 23,625 OOQ 8.750 000 2,750,000 8.750 000 12.500 000 12,500,000 12 600 000 12,500.000 12 500 OOQ §,000,000 5 000 000 3.000,000 5.000 00 Total Actual Values-Cumulative SE IdEttell g######## #####4,41## EttlailMIE ## ## Mattel 10N##> �p #N####### p#######p #� Assessed Values: Residential Living Units a 7.96%of Actual Value Commercial Property -Retail @ 29%of Actual Value 4.313,750 0 0 0 0 0 0 0 0 0 0 0 0 Commercial Property -Office O 29%of Actual Value 1,450.000 1,450,000 1,450.000 1,450,000 2,175,000 2,175,000 2.175,000 2,175,000 2,175,000 0 0 0 0 Commercial Property -Industrial @ 29%of Actual Value 1,087,500 1,087,500 1,087,500 1,087,500 1,450,000 1,450,000 1,450,000 1,450,000 1,450,000 1.450,000 1,450,000 1,450,000 1,450,000 Vacant Land a 29%of Actual Value 4 4 2 0 2 0 2 9 2 0 2 9 4 Total Asaesed Values 8 851 250 2.537.500 2337.500 2.537 500 3.825,000 3 675 000 1,625.000 3675 000 ,3.825.000 1 450 000 1.450.000 1 450 000 1,450,000 Total Assessed Values•Cumulative 29.507 500 37 045,000 34.582 500 17 120.000 40,745 000 44,370.000 47.995.000 51,620.000 55 245 000 O 895.000 28.145.000 59 595,000 41.045,000 Total As d Values-Cum.2%Biennial Net Increases after 20( 7578664 35.380,269 38945.517 41.803.149 46 803 198 50.987 183 58233.792 60,481.057 66 02710 87.755 773 70.878.431. 72,645 977 75.901,785 Year Assessed Valuation Certified To SMPG MD#4 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 Year Taxes Received By SMPG MD#4 2018 2019 2020 2021 2022 2023 2024 2025 2028 2027 2028 2029 2030 See Consultants Report and Disclaimer 28 Exhibit C-Financing Plan(FINAL).xis8/30/0410:07 AM SCHEDULE 3(FINANCING DISTRICT) SMPG METROPOLITAN DISTRICT S4 PROJECTED ASSESSED VALUATION•BUILDOUT FOR THE YEARS ENDING DECEMBER 31,2004 THROUGH 2029 BUILDOUT•Source:Sage Development Group: Planned Average Total Number Per Sq Ft Gross Pescrlotion of Unit pf So Ft Actual Valut Actual Value 2922 TOTAL Residential Unite Total Residential-Increm 0 0 Q Q Total Residential-Cumuli 0 0 0 on-Residential Since PA 1 RETAIL 500,000 85.00 42,500,000 0 500,000 PA 4/6 RETAIL 150,000 85.00 12,750,000 0 150,000 PA5+4/E OFFICE 300,000 100.00 30,000,000 0 300,000 PA 1s OFFICE 450,000 100.00 45,000,000 0 450,000 PA 1s INDUSTRIAL #AT ' fl." 50.00 67,000,000 120,000 1,340,000 PA 2s INDUSTRIAL 320,000 50.00 16,000,000 15,000 320,000 Non Residential Sq.Ft.: MsaMM 70 213,250,000 131 3.080,000 (Cumulative) 3,060,000 3,080,000 Total Value•Entire Project 213,250,000 Actual Values: Residential Living Units 0 0 Commercial Property-Retail 0 55,250,000 Commercial Property-Office 0 75,000,000 Commercial Property-Industrial 8,750,000 83,000,000 /scant Land 14 000 0001 Q Total Actual Values 1750.000 213 250.000 Total Actual Values-Cumulative #40/###### 213 250 000 As Values: Residential Living Units©7.98%of Actual Value 0 Commercial Property •Retail©29%of Actual Value 0 18,022,500 Commercial Property •Office,g 28%of Actual Value 0 21,750,000 Commercial Property -Industrial©29%of Actual Value 1,957,500 24,070,000 Vacant Land®29%of Actual Value (1.160.000) Q Total Assesed Values 797,500 81.842.500 Total Assessed Values•Cumulative 61.842 500 81 842 500 Total Assessed Values•Cum.2%Biennial Net Increases after 20(75 901 785 75.901 785 Year Assessed Valuation Certified To SMPG MD#4 2030 Year Taxes Received By SMPG MD#4 2031 See Consultant's Report and Disclaimer 29 Exhibit C-Financing Plan(FINAL).ab8/30/0410:02 AM SCHEDULE 4(FINANCING DISTRICT) SMPG METROPOLITAN DISTRICT#6 PROJECTED ASSESSED VALUATION•BUILDOUT ncaeva wrr,AWann,2004 FOR THE YEARS ENDING DECEMBER 31,2004 THROUGH 2014 nnaaawar,&s aeorro aurae BUILDOUT-Source:Sage Development Group: Planned Avenge Total Number Per Unit Gross Unit pescrfotion of Un of Units Fria Volume lica Zoos leg vs an ma 2912 2211 jyj 1212 2914 Residential Units PA ISirgle Family 32 382,020 12.224,640 10 11 11 PA 2 Single Family 55 232,105 12,785,775 18 18 19 PA 2 Single Family 34 255,041 8,671,394 11 11 12 PA 2 Single Family 35 299,207 10,472,245 11 12 12 PA 3 Single Family 17 255,041 4,335,697 5 8 6 PA 3 Single Family 46 299,207 13,783,522 15 15 16 PA 3 Single Family 29 338,575 9,818,675 9 10 10 PA 4 Single Family 58 232,105 13,482,090 19 19 20 PA 4 Single Family 19 255,041 4,845,779 6 6 7 PA 4 Single Family 28 299,207 7,779,382 8 9 9 PA 5 Single Family 37 255,041 9,436,517 12 12 13 PA 5 Single Family 68 299,207 20,348,076 22 23 23 PA 5 Single Family 15 338,575 5,078,625 5 5 5 PA B Single Family 70 192,285 13,458,550 23 23 24 PA 6 Single Family 60 215,147 12,908,820 20 20 20 PA 6 Single Family 55 232,105 12,765,775 18 18 19 PA 6 Single Family 50 255,041 12,752,050 16 17 77 PA 7 Multi Family 124 147,333 18,269,282 41 41 42 PA 7 Town Home Mg 164,144, 77.576.192 _ ,54 24 O9 Total Residential-moron 998 231,193 230,731,098 820 222 a_7 Total Residential-Cumu 998 _ _ _ - _ _ - - 325 657 998 Non Residential Sq.FL: 0 100 0 0 0 0 0 0 0 0 0 0 0 0 (Cumulative) 0 0 0 0 0 0 0 0 0 0 0 0 Total Value-Entire Project 230,731,096 Actual Values: Residential Living Units 0 0 0 0 0 0 0 0 74,791,419 76,919,717 79,019,960 Commercial Property 0 0 0 0 0 0 0 0 0 0 0 Vacant Land 2 Q 9 Q 0 0 9 4,000.000 4 000.0QQ 14 000 000) L4 000O00) Total Actual Values 9 2 0 2 0 2 2 4.000 00Q 78.791.419 72 919.717 75.019 960 Total Actual Values•Cumulative 0 0 0 0 0 4 4 4,000 000 §2,791.419 Assessed Values: Residential Living Units®7.96%of Actual Value 0 0 0 0 0 0 0 0 5,953,397 6,122,809 6,289,989 Commercial Property CI 29%of Actual Value 0 0 0 0 0 0 0 0 0 0 0 Vacant Land @29%of Actual Value 2 0 9 0 9 0 2 1.100 000 1,160.000 (1,160,000) (1160,000) Total Assesed Values 0 Q g 0 9 0 0 L160.000 7.113,397 4,962,809 5,129,989 Total Assessed Values'Cumulative 2 0 2 0 9 9 9 1.160 000 8,273,397 13 238.209 18,388,195 Total Assessed Values-Cum.2%Biennial Net I net 0 9 0 Q 0 0 0 1,206 864 8.779.795 14,040.388 19,680,160 Year Assessed Valuation Certified To SMPG MD S5 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 Year Taxes Received By SMPG MD 05 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 See Consultants Report and Disclaimer 30 exhibit C-Financing Plan(FINAL).els6/30/0410:02 AM SCHEDULE 4(FINANCING DISTRICT) SMPG METROPOLITAN DISTRICT 65 PROJECTED ASSESSED VALUATION•BUILDOUT FOR THE YEARS ENDING DECEMBER 31,2004 THROUGH 2014 BUILDOUT•Source:Sage Development Group: Planned Average Total Number Per Unit Gross Unit pescrtotlon of Un RUMS St Volumt 7$Th4 Residential Unl j PA 1SIgle Family 32 382,020 12,224,640 32 PA 2 Single Family 55 232,105 12,765,775 55 PA 2 Single Family 34 255,041 8.671,394 34 PA 2 Single Family 35 290,207 10,472,245 35 PA 3 Single Family 17 255,041 4,335,697 17 PA 3 Single Family 46 299,207 13.783,522 46 PA 3 Single Family 29 338,575 9,818.675 29 PA 4 Single Family 58 232,105 13,462.090 58 PA 4 Single Family 10 255,041 4,845,779 19 PA 4 Single Family 28 299,207 7,779,382 28 PA 5 Single Family 37 255,041 9,438.517 37 PA 5 Single Family 68 299,207 20,346,078 68 PA 5 Single Family 15 338,575 5,078,825 15 PA 6 Single Family 70 192,265 13,458,550 70 PA 8 Single Family 60 215,147 12,908,820 80 PA 6 Single Family 55 232,105 12,765,775 55 PA 6 Single Family 50 255,041 12,752,050 50 PA 7 Munl Family 124 147,333 18,269,292 124 PA 7 Town Home ]§g 164 144 27.576.192 in Total Residential•Incren 998 231193 230,731,096 $9@ Total Residential•Cumu 998 998 Non Residential Sq.FL: 0 100 0 0 (Cumulative) 0 0 Total Valle-Entire Project 230,731,096 Actual Values: Residential Living Units 230,731,096 Commercial Properly 0 Vacant Land 0 Total Actual Values 234,731.096 Total Actual Values-Cumulative 230 731.096 Assessed Values: Residential Living Units 7.98%of Actual Value 18,368.195 Commercial Property O 29%of Actual Value 0 Vacant Land®29%of Actual Value 2 Total Assesed Values 18 386A95 Total Assessed Values•Cumulative 18,366.195' Total Assessed Values•Cum.2%Biennial Net Increases after 19 884.180 Year Assessed Valuation Certified To SMPG MD e5 Year Taxes Received By SMPG MD e5 See Consultant's Report and Disclaimer 31 Exhibit C-Financing Plan(NNAL).alsa/30/0410:02 AM SCHEDULE 5(FINANCING DISTRICT) !MPG METROPOLITAN DISTRICT S PROJECTED ASSESSED VALUATION•BUILDOUT aOMIONO unn swum?,11004 FOR THE YEARS ENDING DECEMBER 31.2004 THROUGH 2017 eanasuar,INJECT roouxea BUILDOUT-Source:Saga Development Group: Planned Average Total Number Per Unit Gross Unit Description of Un of Unite Plloa Volume 2224 295 2222 292! 2446 242E 2212 2211 2412 2213 liiit, nu Residential Unite PA2Single Family 35 232,105 8,123,675 11 PA 2 Single Family 34 255,041 8,671,394 11 PA 2 Single Family 25 299,207 7,480,175 8 PA 3 Single Family 17 255,041 4,335,897 5 PA 3 Single Family 26 299,207 7,779,382 8 PA 3 Single Family 29 338,575 9,818,675 9 PA 4 Single Family 38 232,105 8,819,990 12 PA 4 Single Family 19 255,041 4,845.779 6 PA 4 Single Family 26 299,207 7,779,382 8 PA 5 Single Family 37 255,041 9,436,517 12 PA 5 Single Family 23 299,207 8,881,781 7 PA 5 Single Family 25 338,575 8,484,375 8 PA 6 Single Family 60 192,265 11,535,900 20 PA 8 Single Family 55 215,147 11,833,085 18 PA 6 Single Family 27 232,105 6,266,835 9 PA6 Single Family 35 255,041 8,926,435 11 PA 7 Multi Family 170 147,333 25,046,810 56 PA 7 Town Home 92 ]2},144 14 772 980 9 IQ Total Residential-Inman 771 221555 170,818,627 _ 0 2442 Total Residential-Cumu 771 - _ _ - - _ _ 0 — 249 Non Residential Sq.Ft.: 0 100 0 0 0 0 0 0 0 0 0 0 0 0 0 (Cumulative) 0 0 0 0 0 0 2 0 0 0 0 0 0 Total Value•Entire Protect 170,818,827 Actual Values: Residential Living Units 0 0 0 0 0 0 0 0 0 0 0 54,828,311 Commercial Property 0 0 0 0 0 0 0 0 0 0 0 0 Vacant Land Q 2 2 0 9 Q Q 9 0 0 4.000 000 4 000.000 Total Actual Values Q 0 0 2 0 2 0 Q 9 0 4.000.000 58 828 311 Total Actual Values•Cumulative 2 2 2 2 2 2 0 9 2 0 4 000.000 62.828311 Assessed Values: Residential Living Units©7.96%of Actual Value 0 0 0 0 0 0 0 4,364,334 Commercial Property @ 29%of Actual Value 0 0 0 0 0 0 0 0 Vacant Land®29%of Actual Value 9 0 0 9 2 Q 1.160.000 J 160,000 Total Assesed Values Q 0 9 2 2 0 1.160 000 ¢.524.334 Total Assessed Values-Cumulative Q Q 2 9 2 2 1.160 000 6.484.334 Total Assessed Values-Cum.2%Biennial Net Increases after 9 Q Q Q Q 2 1 255.621 7.235 338 Year Assessed Valuation Cedillas!To SMPG MD 96 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2018 Year Taxes Received By SMPG MD e6 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2018 2017 See Consultants Report and Disclaimer 32 Exhibit C-Financing Plan(FINAL).xls9/30/0410:02 MI SCHEDULE 5(FINANCING DISTRICT) SMPG METROPOUTAN DISTRICT ie PROJECTED ASSESSED VALUATION•BUILDOUT FOR THE YEARS ENDING DECEMBER 31,2004 THROUGH 2017 BUILDOUT-Soura:Sags Development Group: Planned Average Total Number Per Unit Gross Unit Description of Utl pf Units Prla Voluma 2211 101 TOTAL Residential Units PA 2SIngle Family 35 232,105 8,123,675 1 12 35 PA 2 Single Family 34 255,041 8,671,394 1 12 34 PA 2 Single Family 25 299,207 7,480,175 9 25 PA 3 Single Family 17 255,041 4,335,897 6 17 PA 3 Single Family 26 299,207 7,779,382 9 26 PA 3 Single Family 29 339,575 9,818,675 1 10 29 PA 4 Single Family 38 232,105 8,819,990 1 13 38 PA 4 Single Family 19 255,041 4,845,779 7 19 PA 4 Single Family 28 299,207 7,779,382 9 26 PA 5 Single Family 37 255,041 9,438,517 1 13 37 PA 5 Single Family 23 299,207 8,881,761 6 23 PA 5 Single Family 25 338,575 8,464,375 9 25 PA 6 Single Family 60 192,265 11,535,900 20 20 60 PA 6 Single Family 55 215,147 11,833,085 18 19 55 PA6 Single Family 27 232,105 6,286,835 9 9 27 PA 6 Single Family 35 255,041 8,926,435 12 12 35 PA 7 Multi Family 170 147,333 25,046,610 57 57 170 PA 7 Town Hone 22 184.144 14.772 960 QQ $Q 22 Total Residential-Incren 771 221555 170,818,627 2,51 2M 221 Total Residential-Cumu 771 507 771 771 Non Residential Sq.Ft.: 0 100 0 0 0 0 (Cumulative) 0 0 0 0 Total Value-Entire Project 170,818,627 Actual Values: Residential Living Units 57,186,132 58,804,184 170,818,627 Commercial Property 0 0 0 Vacant Land (4 000 000) (4.000.0001 0 Total Actual Values 53,186.132 ¢.804,184 170.818,627 Total Actual Values•Cumulative NUMMI FifittaltftM 170 818 697 Assessed Values: Residential Living Units @ 7.96%of Actual Value 4,552,016 4,680,813 13,597,163 Commercial Property®29%of Actual Value 0 0 0 Vacant Land @ 29%of Actual Value (1,160.000) (1 160 0001 Q Total Massed Values ,7„x92011 8.520.813 13597168 Total Assessed Values-Cumulative 10.078 350 13,597.163 13.597,163 Total Assessed Values-Cum.2%Biennial Net Increases after 11 125,104 15,012.366 15.012 366 Year Assessed Valuation Certified To SMPG MD ee 2017 2018 Year Taxes Received By SMPG MD 116 2018 2019 See Consultants Report and Disdains 33 Walt C-Financing Plan(FaiAL)pdsB/30/0910:111 N9 EXHIBIT D Public Improvements and Costs SMPG METROPOLITAN DISTRICTS EXHIBIT D-1 OFFSITE IMPROVEMENTS PLAN WELD COUNTY, COLORADO SMPG METROPOLITAN DISTRICT NOS. 1-6 Id �i n� LEGEND Ol'I WCR 11 i ■ WCR 44 frI I IMPROVEMENTS IMPROVEMENTS 1.1 DISTRICT ZI ' BOUNDARY Dun 3 LINE , VII dill ILI u INTERBECTION IMPROVEMENTS t' \ WELD COUNTY ROAD 11 II H INVENTORY 1_I � CI1 I DISTRICT 2 Q / al LAND-1 L$ rCC WASTEWATER TREATMENT PLANT-1 LS. I WASTEWATER TREATMENT PLANT EXPANSION -9688 S/F UNITS 27'SANITARY SEWER TRUNK LINE-147(1 LF. /'/ 27'SANITARY SEWER CROSSWO UNDER WCR 44-1 EA Z \___`� 1.I 8, WCR 44 ACCEVDECEL-1 LS O • 1 t WCR tl IMPROVEMENTS-7 LS OWCR 11 a44 SIGNAL-1 L.S. WASTEWATER .mo • O ...)-1 WCR t1 a 44 INTERSECTION IMPROVEMENTS-1 LS :LANTen WCR 44 IMPROVEMENTS-1 L.S. IL • \ 1 ELECTRIC -1 LS • \ 1 RELOCATE OIL LINE-1 LS • HIGH PRESSURE GM-1 LS DISTRICT 2 ti PRE93URE REDUCER GAS-1 LS DIRECTORS • 1• , 1 *II PAGEL ♦ • I ♦ I 1 8EW@1 \- t CROSSING AT 1 Z � `1 fP SOH 44 •e rERT SANITARY 1 SCALE: 1' = 1000' UNE 1\___,-, . 1 I r i • 1 \ 1 1 1 ‘11W'' _ _ _ _ _ _ _ _ _ _ _ _ _ — 748 Whalers Way, Bldg. D — — Fort Collins, Colorado .� ot.W INTERSTATE 25 INTERSTATE 25 Phone: 970 222 0204 7HgMPeON UNDERPASS .. RIVER Job no. 0972-0012 Filename: exhibit 7-28-04 August 25, 2004 SMPG METROPOLITAN DISTRICTS EXHIBIT D-2 GRADING PLAN WELD COUNTY, COLORADO SMPG METROPOLITAN DISTRICT NOS. 1-8 il v � LEGEND 0 o 4 .i O} STREETS •■ BUILDABLE cr , __ PARCELS Z FUTURE u STREETS S Of DISTRICT W rn` BOUNDARY // , 4-1 LINE i;._WELD COUNTY ROAD 11 Le II I I1,11 - i � _ ' I INVENTORY II 1 DISTRICT 2 DISTRICT 6 ,( , i CUT-2,090,000 C.Y. CUT-1629,000 C.Y. I FILL-2,090000 C.Y. \ FILL-1629,000 _ se4, ' AREA-S80 ACRES AREA-278 ACRC.Y.ES /� ••• ® I DISTRICT 9 DISTRICT 8 ♦` V „ Q % t CUT-1,897800 C.Y. CUT-2,048,000 C.Y. 2 ; • _ / FILL -1,897,600 C.Y. FILL-2,048,000 C.Y. W rl q AREA-346 ACRES AREA-972 ACRES �' ,\��/�,`,' L \ ' / I DISTRICT 4 olsiRlcr z ' I I ^ , , CUT-'4286,000 C.Y. DIRECTORS • d - FILL-1286.000 C.Y. PARCEL , _ ' AREA-280 ACRES m mil, som r am la di I 1 I] '1L 1 % Imo, ,•` 0�' 4fteg um mg s Mr git 4. F * SCALE: T = 1000 owe- ilk * \____V Isliallst% • SUOMI NM ] OWangell M I= MS de r"....N....... -----'r en ® .70--\ • 0 . _ , gTr I IN ,..,�... - u _ 748 Whalers Way, Bldg. D LR LE IN % INTERSTATE 25 Fort Collins, Colorado '�.` INTERSTATE TM Phone: 970.226.0557 UNDERPASS RIVER 970.2.226.0204 Job no. 0972-0012 Filename: exhibit 7-28-04 August 25, 2004 EXHIB TSMPG METROPOLITAN DISTRICTS POTABLE WATER PL POTABLE PLAN WELD COUNTY, COLORADO SMPG METROPOLITAN DISTRICT NOS. 1-6 iI .t'" �� LEGEND Q°' in . ,:i BUILDABLE ccupi STREETS PARCELS } ii ZII FUTURE rn • POTABLE Di i 3 STREETS WATER (121 U''' O II POTABLE - i WATER (81 W (3\lr p • - W DISTRICT BOUNDARY II WELD COUNTY ROAD 11 I I oi, v UNE O; ::' �I� / INVENTORY '- $ •1 DISTRICT 2 DISTRICT 6 �� O\ al 12'PVC- 8,100 LF. 12'PVC- 8,060 LF. _Z „ �� 8'PVC- 200 LF. 8'PVC-100 LF. V xi O 14'PRV VAULT-1 12'PRV VAULT 1 S'PRV VAULT-1 DISTRICT 8 0 ".. �� DISTRICT 8 W a si....__..4 O �� 12'PVC-7,860 LF. 3 / �y� ,, tz PVC-716o LF. C12'PRV VAULT-0.6 :STRICT 2 •I Dl8itp[.14 PARCEL �I' �u --N12'PVC-8.860 LF. ` al - 8'PVC-2.100 I-E { - 12"PRV VAULT-2.6 O ,- / 1 I Z '''` E—&---1 SCALE: Y = 1000 \.......H., \\„__./ . , - _ _ . 1 J a • \\N„.., : � ■ r r-r-r r ■ r r r . . . p . • ' �� - - - -- - ----= --- _ - - - — 748 Whalers Way, Bldg. D �� urrLe INTERSTATE 26 Fort Collins, Colorado i INTERSTATE 25 Phone 2 97026.0557 7NOAWSON UNDERPASS RIVER Fax: 0.226.0204 Job no. 0972=0012 Filename: exhibit 7-28-04 August 25, 2004 SMPG METF-IOPOLITAN DISTRICTS EXHIBIT D-4 RAW WATER IRRIGATION PLAN , WELD COUNTY, COLORADO SMPG METROPOLITAN DISTRICT NOS. 1-6 I i Nt1"' /------` LEGEND ) . 01. BUILDABLE �Ii , STREETS ■ _ PARCELS Z1 i FUTURE RAW WATER =na • STREETS II (127 VII �, RAW WATER IIWELL & PUMP W II. • IRRIGATION (18') STATION N' C:\ DISTRICT WELD COUNTY ROAD 11 II I 4,1 LINE BOUNDARY ta IllINVENTORY • Q--, / 1,t r „ \ \ ----The DISTRICT 2 DISTRICT 4 V C-----, I• 15'HOPE-560 L.F. 12'HOPE- 6,700 Li'. 12'HDPE-MOO LE12'PRV VAULT-0.6,. i ^ 1•Sr 1Y'PRV VAULT-1 IF 0 �� 1■ ® WELL& PIMP STATION-2 DISTRICT 6 • -WO ..-,'--- 100 AC-FT STORAGE- 2 ` 18' HDPE-160 LF. ,, • J • 1• DISTRICT 8 12'HDPE-4450 I-F. WELL PUMP STATION -1 O- • • �� 1■ 18'HDPE-1,800 LF. 100 AC-FT STORAGE-1 • r\\ 12'HOPE-7,4600.6 I■ 12'PRV VAULT-0.6 DISTRICT 8 WELL - PUMP STATION-2 2:- • -I■� 700 AC-FT STORAGE. 2 15'HDPE -t700 LP. f L _ 12'HDPE-7,360 LF. WELL r1, PUMP STATION -1 - - 100 AC-FT STORAGE-1 •• ■ SCALE: Y = 1000 \\_..--/ , - �{/15 ST t T It.r r1, r...tit 11141• NI. ntF.i.- _ - - — — — - - - -- __ --- _ — - --- - _ _---- _ - 748 Whalers Way, Bldg. D urns INIERBTA7E 4• INTERSTATE 25 Fort Collins, Colorado '`_THOMPSON UNDE NIB• Phone: 970.226.0557 Fax: 970.226.0204 RIVER Job no. 0972=0012 Filename: exhibit 7-28-04 August 25, 2004 SMPG METROPOLITAN DISTRICTS EXHIBIT D-5 SANITARY SEWER PLAN WELD COUNTY, COLORADO SMPG METROPOLITAN DISTRICT NOS. 1-6 W ILA, NW ( 1-79 LEGEND O� C BUILDABLE CON ■ PARCELS rmi Z.' FUTURE SANITARY D. pi) STREETS1 �LA SEWER (24') Un ,, SANITARY l SANITARY WSEWER (18') - I --- SEWER (151 v p in \ SANITARY SANITARY WELD COUNTY ROAD 11 [ II I ) SEWER (12� ■ SEWER (8") DISTRICT I 11• / V BOUNDARY Q • I ' LINE }CC .,_? • o` ' INVENTORY Z ef -'5) i I K7 1 1 D83TRICT 1 DISTRICT 4 O z : "w 'I 1 ' + 24 PVC-1160 LE. 24'PVC-400 LF. V • • • J , 18'PVC-7,800 LF. 12'PVC-2,460 LF. O • 16'PVC-8,300 LF. 8'PVC-2,260 LF. _I Si �,.. J �crt � , 12'PVC-2,300 LF. ' • � Q 8'PVC-800 LF. DISTRICT 6 —3--) DISTRICT 3 24'PVC-1,600 LF. DISTRICT Y 1 1 76'PVC-8,800 LF. 16'PVC-GOO LF. 14'PVC-1,700 LE r•. oRs� . ' / _ 8'PVC-8,200 LF. DISTRICT B O .,. / y a �_ 16'PVC-400 LF. i / + ', 8'PVC -300 I-E ± ' y \_ 1 I' \-: C----- '4 SCALE: = 1000' \--7 \ • ../\___--''\, ♦ 1 1"0 N N II, 11 IV . I• I r_y, -i 748 Whalers Way, Bldg. D 1( _ Fort Collins, Colorado �TMLITTIE N INTERSTATE INTERSTATE 25 Phone: 970.226.0557 PASS Fax: 970.226.0204 RIVER Job no. 097220012 Filename: exhibit 7-28-04 August 25, 2004 i SMPG METROPOLITAN DISTRICTS EXHIBIT D-6 STORM SEWER PLAN WELD COUNTY, COLORADO SMPG METROPOLITAN DISTRICT NOS. 1-6 � I . / LEGEND ern p1"1 _ BUILDABLE co,,, , STREETS PARCELS I I Zli FUTURE ,r STORM SEWER Ora 3 STREETS ® L (30' BOX CULVERT) O11 S STORM SEWER -i STORM SEWER W 1„1 • _ (26' BOX CULVERT) C' F,) (20' BOX CULVERT) 1 \ STORM SEWER a Ill STORM SEWER 0 WELD COUNTY ROAD 11 0 I „N, I (10' BOX CULVERT) (4' RCP) I / STORM SEWER II DISTRICT O „ ' �� (3' RCP) BOUNDARY LINE i —I He INVENTORY CC Z �. o----..._ NI DISTRICT 2 WHOA 111Y5) He 20'BOX CULVERT-1,060 LF. 30'BOX CULVERT - 260 LF. Q • n 10'BOX CULVERT-200 LF. 25 BOX CULVERT- 600 LF. O : . 4' RCP-7,660 LF. 10'BOX CULVERT-250 LF. .. • ' • � � ' J ' ./---------- 8'RCP-160 LF. a•RCP-7,700 LF. O IJ., , I 3'RCP -260 LF. 11 • 1 DISTRICT 3 1 DISTRICT 6 • 4'RCP-1,360 LE 1 ( 3'RCP-160 LF. 20' BOX CULVERT-400 LF. DIRECTORS • O , _I1 C^ I�� 4' BOX CULVERT-260 LF. / f 3' RCP 260 LF. T - Oit ' DISTRICT It 1 17 BOX CULVERT-460 LF. \ _ , 4'RCP-700 LF. SCALE: T = 1000' ■ 1 1,}n4. /_ 1 : • 1 R( — - __ - 748 Whalers Way, Bldg. D u Fort Collins, Colorado , .� Iml> INTERSTATE%fir INTERSTATE 25 Phone: 970.226.0557 TxRIVERRR UNDERPASS Fax: 970.226.0204 RIVER Job no. 0972-a12 Filename: exhibit 7-28-04 August 25, 2004 SMPG METROPOLITAN DISTRICTS EXHIBIT D-7 STREET PLAN WELD COUNTY, COLORADO SMPG METROPOLITAN DISTRICT NOS. 1-6 N ^ z------^ I ' LEGEND o 2 r FUTURE En - BUILDABLE STREETS M F PARCELS I I 2-LANE 1 4-LANE 3 I ARTERIAL I i M ARTERIAL U I 1 j DISTRICT o BOUNDARY J x LINE W ,I�, 1 I WELD COUNTY ROAD 11 I :L I _ _ Fps ..-�_ a� �_.�_ri=. , 3 _ i t _ , a i ) ) • I INVENTORY oOC / y t _.,.mss- I DISTRICT 2 DISTRICT 6 .i' 9;. , " . :/ ♦ I 4-LANE ARTERIAL-1,000 LFi 4-LANE ARTERIAL-2.250 LF. Wq ' 2-LANE ARTERIAL-8,860 LE 2-LANE ARTERIAL-2,260 LF. Z ♦` ®as Isi I 1-LANE ROUNDABOUT-1 INTERSECTION SIGNAL-1 DISTRICTS DISTRICT 8 ❑ Ij 10 ' '.. 1 - ` I 2-LANE ARTERIAL-9,260 LF. 4-LANE ARTERIAL-2+860 LF. -Jr j • . • / •... 2-LANE ARTERIAL-6p00 LF. • i DISTRICT 4 4-LANE ARTERIAL-7,100 LF. DISTRICT 2 / n -: I INTERSECTION SIGNAL-1 PARCEL . i 1 II •a. ♦ i 43/4 j n SCALE: r = 1000 1 t •A. r ---__ris I « ST t I; -ama m_m mip_m M_ _11"_I-11° m- = =aam-aaa=aamawaamcuaam=aaamtcucar- 748 Whalers Way, Bldg. D _ Fort Collins, Colorado �_� �� LRTLE INTERSTATE 26------ INTERSTATE 25 Phone: 970.226.0557 UNDERPASS Fax: 970.226.0204 RIVER Job no. 0972=0012 Filename: exhibit 7-28—04 August 25, 2004 SMPG METROPOLITAN DISTRICTS EXHIBIT D-8 LANDSCAPING PLAN WELD COUNTY, COLORADO SMPG METROPOLITAN - DISTRICT NOS. 1-6 acv `r — i , ) LEGEND O CC FUTURE in -4 j BUILDABLE STREETS `'I PARCELS 2-LANE 4-LANE =O • ARTERIAL ARTERIAL U I: wx DISTRICT W:y . BOUNDARY LINE I I WELD COUNTY ROAD 11 I I I 1 rr-...F.,li a IM. - ili I 0 I +, • I INVENTORY o o- / II CC 1 , =� t I i DISTRICT 2 DISTRICT 8 I I1 4-LANE ARTERIAL-97,000 S.F. 4-LANE ARTERIAL-88,250 Sr Z � - •� I 2-LANE ARTERIAL-188,150 SF. 2-LANE ARTERIAL-42,750 SF. 0 y ♦4.♦ O I 44.ANE ROUNDABOUT-50,000 S.F. DISTRICT 8 • V 4.,yI I DISTRICT 8 CI • ', ' . . tr . �,_, r,.�•8g. ♦ ' 4-LANE ARTERIAL-88,850 SF. W I� • ♦ ` • "`� • 2-LANE ARTERIAL-178,760 S.F. 2-LANE ARTERIAL-86,000 S.F. ,L � �" �� i DISTRICT 4 • / l I 4-LANE ARTERIAL-282,700 SF. DISTRICT z IL �, • • , I ' I 2-LANE ARTERIAL-48,460 S.F. P ; `�• ill. a alp `• 1110 i : 1 °1 vy rte- • SCALE 1' = 100d rail.- • i ® e. � ST — — � ��_ "-W--11.-Ill 1.-I-Nr—:—:--aaaa—:—:—=a a—.—:mu:e aa—raz aa------� 748 Whalers Way, Bldg. D -1f---j - Fort Collins, Colorado .� ume INTERSTATE 28 INTERSTATE 25 Phone: 970.226.0557 eon UNDERPASS Fax: 970.226.0204 RIVER Job no. 0972-0012 Filename: exhibit 7-28-04 , August 25, 2004 TST INC.Cti.wul riNc N(.,Nff MN R CONCEPTUAL OPINION OF COST PROJECT:&MPG METROPOLITAN DISTRICTS JOB NUMBER:0972.0012 PREPARED BY:MRJ DATE:8-25-04 • No. Public Improvement Unit Units Unit Cost etl d Item Cost Metro Matta2 Metro District Metro District 4 Metro District 5 Metro Distils!6 Qu Offslte Improvements Land LS $ 575,000.00 1 $ 575,000.00 $ 575,000.00 Wastewater Treatment Plant LS $ 2,000,000.00 1 $ 2,000,000.00 $ 2,000,000.00 Wastewater Treatment Plant Expansion S/F Units $ 1,800.00 3588 $ 0,468,400.00 $ 1,810,800.00 $ 1,298,400.00 $ 1,458,000.00 $ 1,951,200.00 2r Sanitary Sewer Trunk Line LP 75.00 1470 110,260.00 3 110,25040 2r Sanitary Sewer Crossing Under WCR 44 EA 80,000.00 1 60400.00 $ 80000.00 WCR 44 Accra/Decal LS , i 150,000.00 1 150,000.00 160,000.00 WCR 111uprovemenb _ LS 424....00 1 424,000,00 i 424.000.00 WCR 11&44 Slams LS 160,000.00 1 160,000.00 1 160,000.00 WCR 11&44 Intersection Improvements IS $ 150,000.00 1 160,000.00 N 150,000.00 WCR 44 Improvements LS $ 264,000.00 1 $¢ 284,000.00 2(14,000.00 Electric LS 420,000.001 $ 420,000.00 1 420,000.00 Relocate Oil Line _ LS $ 125,000.00 1 125.000.00 1 125,000,00 High Pressure Gas LS $ 204400.00 1 204,400.00 $ 204,400.00 Pressure Reducer Gee LS $ 35,000.00 1 S$ 36,000.00 ,1 36,000.00 !Engineering 8 M minbtafbn•10% I LS I$11,126,050.00 I 1076 1 $ 1.112.886.00 $ 486,766.00 $ 181,000,00 $ 123,840.00 $ 146,800.00 $ 196.120.00 IOBa6e Contingency-10% I LS I$11,128,050.00 I 10% I $ 1,112,805.00 $ 466,766.00 $ 151,060.00 $ 123,810.00 $ 146.800.00 $ 196.120.00 Total Otfsite Improvements $ 13,351,260.00 $ 6,601,160.00 S 2,172,960.00 S 1,486,660.00 $ 1,749,600.00 $ 2,341,440.00 00 7-30-04.zle W27/2004 t STT5T. INC. CCJN$.n•,N;: CN(. Nheeh 4 CONCEPTUAL OPINION OF COST PROJECT:SMPG METROPOLITAN DISTRICTS JOB NUMBER:0972.0012 PREPARED BY:MRJ DATE:8-25-04 No. Public Improvement Unit Units Unit Cost a Estimated Item Cost Metro District 2 Metro District 3 Metro District 4 Metro District 5 Metro District 6 Qu Onsite Improvements Grading IExcavation(Cut/Fill) I CY f$ 1.25 I 8827500 I$ 11,034,375.00 ,J 2,612500.00 $ 2,371,875.00 $ 1,581,260.00 $ 1,911250.00 $ 2,557,500.00 Potable Water 12'PVC LF $ 50.00 38800 $ 1,940,000.00 $ 455,000.00 $ 372,500.00 $ 442,500.00 $ 302,500.00 $ 367,500.00 8'PVC LF $ 35.00 _ 3400 $ 119,000.00--$ 42,000.00 $ 73500.00 $ 3,500.00 12'PRV Vault EA $ 60,000.00 5 $ 300,000.00 $ 60,000.00 $ 30,000.00 $ 150,000.00 $ 60,000.00 8'PRV Vault EA $ 50,000.00 1 $ 50,000.00 $ 50,000.00 Raw Water Irrigation 18'HDPE LF $ 75.00 4200 $ 315,000.00 $ 41,250.00 $ 135,000.00 $ 11,250.00 $ 127,500.00 12'HDPE LF $ 50,00 34350 $ 1,717400.00 $ 420,000.00 $ 372,600.00 $ 335,000.00 $ 222,500.00 $ 387,500.00 1T PRV Vault FA $ 60,000.00 2 $ 120,000.00 $ 60,000.00 $ 30,000.00 $ 30,000.00 Well&Pump Station EA $ 100,000.00 8 $ 600,000.00 $ 200,000.00 $ 200,000.00 $ 100,000.00 $ 100,000.00 000 ac-ft Storage EA $ 200400.00 6 $ 1,200,00040 $ 400,000.00 $ 400,000.00 $ 200,000.00 $ 200,000.00 Sanitary Sewer 24'PVC LF $ 75.00 3050 $ 228,750.00 $ 88,250.00 $ 30,000.00 $ 112,500.00 18*PVC LF $ 60.00 1600 $ 108,000.00 $ 108,000.00 15'PVC LF $ 55.00 15600 $ 858,000.00 $ 456,500.00 $ 33,000.00 $ 348,500.00 $ 22,000.00 1T PVC LF $ 45.00 14400 $ 848,000.00 $ 103,500.00 $ 128,000.00 $ 110,250.00 $ 78,500.00 $ 231,750.00 8'PVC LF $ 35.00 14700 $ 514,600.00 $ 28,000.00 $ 287.000.00 $ 78,750.00 $ 120,750.00 Stomp Sewer 30'Box Culvert LF $ 3,000.00 250 $ 750,000.00 $ 750,000.00 25'Box Culvert LF $ 2,500.00 600 $ 1,500,000.00 $ 1400.000.00 20'Box Culvert LF $ 2,000.00 1450 $ 2,900,000.00 $ 2,100,000.00 $ 800.000.00 10'Box Culvert LF $ 500.00 1150 $ 6 _75,000.00 $ 100,000.00 $ 125,000.00 $ 125.000.00 $ 225,000.00 4'RCP LF $ 100.00 6600 $ 850,000.00 $ 165,000.00 $ 135.000.00 $ 170,000.00 $ 110.000.00 $ 70,000.00 3'RCP LF $ 75.00 800 $ 60,000.00 $ 11,250.00 $ 11260.00 $ 18,750.00 $ 18,750.00 Street 4-Lane Arterial LF $ 120.00 12700 $ 1,524,000.00 $ 120,000.00 $ 852,000.00 $ 270.000.00 $ 282,000.00 2-Lane Arterial LF $ 90.00 27900 $ 2,511,000.00 $ 796,500.00 $ 832,500.00 $ 229,500.00 $ 202,500.00 $ 450,000.00 1-Lane Roundabout EA $ 250,000.00 _ 1 $ 250,000.00 $ 250,000.00 I.denw&xl Signal EA $ 150,000.00 2 $ 300,000.00 $ 150,000.00 $ 150,000.00 LarrdscaDin0 4-Lane Adana' ' SF $ 2.00 489900 $ 939,800.00 $ 74,000.00 $ 525,40000 $ 18850040 $ 173,900.00 2-Lane Arterial SF $ 2.00 530100 $ 1,060,200.00 $ 335,300.00 $ 361500.00 $ 96,900.00 $ 85,500.00 $ 190,000.00 1-Lane Roundabout SF $ 2.00 30000 $ 60,000.00 $ 60,000.00 IEngineering&Mministation•10% I LS I$32,833,125.00 I 10% I $ 3283,312.60 $ 913,60640 $ 688,812.60 ,$ 724,680.00 $ 627,47540 $ 648,64040 I Oneida Contingency-10% I LS I$32,33,125.001 10% I$ 3,288,31250 -$ 913,606.00 $ 568512.60 $ 724,58000' $ 527,47540 $ 54554050 Total Onsite Improvements $ 39,399,750.00 $ 10,963,260.00 $ 6,825,750.00 $ 8,698,560.00 $ 6,329,700.00 $ 8,582,480.00 Summary of Costs OReMe Improvements $ 13,351,260.00 $ 5401,180.00 $ 0,172,960.00 $ 1,486,080.00 $ 1,749400.00 $ 2,341,400.00 Onsite Improvements $ 39599,7500.00 $ 10,663,260.00 $ 6.825,76040 $ 8,698,580.00 $ 8,329,70050 $ 8,582,4W.0D Total Cost for Public improvement $ 52,751,010.00 $ 16,564,440.00 $ 8,998,710.00 $ 10,184,640,00 $ 8,079,300.00 $ 8,923,920.00 oc 730-04.xla 8/27/2004 EXHIBIT E Statutory Contents of this Service Plan I. A description of the proposed services; II. A fmancial plan showing how the proposed services are to be financed; III. A preliminary engineering or architectural survey showing how the proposed services are to be provided; IV. A map of the Districts'boundaries and an estimate of the population and valuation for assessment of the Districts; V. 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 Districts are compatible with facility and service standards of The Town and of municipalities and special districts which are interested parties pursuant to §32-1-204(1), C.R.S.; VI. A general description of the estimated cost of acquiring land, engineering services, legal services, administrative services, initial proposed indebtedness and estimated proposed maximum interest rates and discounts, and other major expenses related to the organization and initial operation of the Districts; VII. A description of any arrangement or proposed agreement with any political subdivision for the performance of any services between the Districts and such other political subdivisions; and VIII. Information satisfactory to establish that each of the following criteria as set forth in §32-1-203, C.R.S.,has been met: (a) That there is sufficient existing and projected need for organized service in the area to be served by the Districts; (b) That the existing service in the area to be served by the Districts is inadequate for the present and projected needs; (c) That the Districts are capable of providing economical and sufficient service to the area within their boundaries; (d) That the area to be included in the Districts has, or will have, the financial ability to discharge the proposed indebtedness on a reasonable basis; Hello