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Home My WebLink About20223622.tiffLAW OFFICE OF MICHAEL E. DAVIS, LLC July 5, 2023 Weld County Clerk & Recorder 1402 North 17th Avenue Greeley, CO 80631 weld-districts@weldgov.com Office of the State Auditor Local Government Audit Division 1525 Sherman Street, 7th Floor Denver, CO 80203 RE: 2022 Annual Report To Whom It May Concern: Division of Local Government Department of Local Affairs 1313 Sherman Street, Room 521 Denver, CO 80203 Board of County Commissioners Weld County P.O. Box 758 Greeley, CO 80632 kford@weldgov.com Enclosed for your records is the annual report for 2022 for the below captioned district. Please contact me with any questions or concerns. Thank you. Platte River Metropolitan District LAW OFFICE OF MICHAEL E. DAVIS, LLC Marisa Davis, Senior Paralegal Enclosure CoMMun ;Co -1— or1S I I /2o/2H 2022-3622 PLATTE RIVER METROPOLITAN DISTRICT COUNTY OF WELD, STATE OF COLORADO ANNUAL REPORT FOR FISCAL YEAR 2022 Pursuant to the Service Plan for Platte River Metropolitan District (the "District"), the District is required to provide an annual report to the County of Weld (the "County") with regard to the following matters: a. Boundary changes made or proposed to the District's boundary as of December of the prior year; b. Intergovernmental Agreements with other governmental entities, either entered into or proposed as of December 31 of the prior year; c. Copies of the District's rules and regulations, if any, as of December 31 of the prior year; d. A summary of any litigation which involves the District Public Improvements as of December 31 of the prior year; e. Status of the District's construction of the Public Improvements as of December 31 of the prior year; f. A list of all facilities and improvements constructed by the District that have been dedicated to and accepted by the County as of December 31 of the prior year; g. The estimated assessed valuation of the District for the current year; h. Current year budget including a description of the Public Improvements to be constructed in such year; i. Audit of the District's financial statement, for the year ending December 31 of the previous year, prepared in accordance with generally accepted accounting principles or audit exemption, if applicable; j. Notice of any uncured defaults existing for more than ninety days any debt instrument of the special district; and k. Any inability of the Special District to pay its obligations as they come due under any obligation which continues beyond a ninety -day period. For the year ending December 31, 2022, the District makes the following report: a. Boundary changes made or proposed to the District's boundary as of December of the prior year; The District boundaries changed in 2022 to include additional property into the District as contemplated in the service plan. A map of the current District boundaries is attached hereto as Exhibit A. b. Intergovernmental Agreements with other governmental entities, either entered into or proposed as of December 31 of the prior year; No Intergovernmental Agreements were entered into or proposed during the reporting period. c. Copies of the District's rules and regulations, if any, as of December 31 of the prior year; There are no rules or regulations. d. A summary of any litigation which involves the District Public Improvements as of December 31 of the prior year; The District is not aware of any litigation, pending or threatened, which involves the District Public Improvements as of December 31, 2022. e. Status of the District's construction of the Public Improvements as of December 31 of the prior year; No public improvements were constructed by the District during the reporting period. f. A list of all facilities and improvements constructed by the District that have been dedicated to and accepted by the County as of December 31 of the prior year; No facilities and improvements were constructed by the District during the reporting period, and no facilities or improvements have been dedicated to the County as December 31St of the report year. g. The estimated assessed valuation of the District for the current year; $188,949,180 h. Current year budget including a description of the Public Improvements to be constructed in such year; The budget resolution for the current year is attached hereto as Exhibit B. Public Improvements to be constructed in 2022 will be accomplished in cooperation with Weld Adams Water Development Authority and Front Range Infrastructure Authority. i. Audit of the District's financial statement, for the year ending December 31 of the previous year, prepared in accordance with generally accepted accounting principles or audit exemption, if applicable. The District's audited financial statements for 2022 are attached hereto as Exhibit C. J• Notice of any uncured defaults existing for more than ninety days any debt instrument of the special district. There was none. k. Any inability of the Special District to pay its obligations as they come due under any obligation which continues beyond a ninety -day period. There was none. EXHIBIT A _,`��r \`\\\\\\\ WELD COUNTY alar ONLINE MAPPING Platte River Metropolitan District United Milliken Reservoir Enterprise, LLC WCR401/2 0 4,468.46 8,936 9 Feet '.WCR98-112 1:53,622 O 8,9369 WGS_1984_Web_Mercator_Auxiliary_Sphere CD Weld County Colorado This map is a user generated static output from an Internet mapping site and Is fcr reference only Data layers that appear on this map may or may not be accurate, current, or otherwise reliable THIS MAP IS NOT TO BE USED FOR NAVIGATION rrlernr Fort Cola?... O E!-i,.lrlrr Derv%r Legend Parcels Highway Road Highway Road County Boundary Notes 4,2,E . 'WCR'8CC . et- Pair' t. v -' This map is a user generated static output from an Internet mapping site and is for reference only Data layers that appear on this map may or may not be accurate, current, or otherwise reliable THIS MAP IS NOT TO BE USED FOR NAVIGATION Lc' anch, LLC Le aI Descri lion uiGl�fr�srv�rinn�mi'�%ut�s"�4y�1 - - e'rdar� Mini ti RRORFATY OEscwrrrox eEl CENTRAL WELD LAND SURVEY PLAT PARCELS OF LAND SITUATED IN TOWNSHIP 4 NORTH, RANGES 62, 63 $ 66 WEST, TOWNSHIP 5 NORTH, RANGES 62, 63 $ 64 WEST AND TOWNSHIP 6 NORTH, RANGE 64 WEST, OF THE 6TH PRINCIPAL MERIDIAN, COUNTY OF WELD, STATE OF COLORADO WCRM66 d25' IFl \N88°dS43'E\�fi21 GyssconxFx AA, AI AY AISOA sEcna�a.lavmsme Tia,ve°i�v�°`n.w°omes". �°�"«t�ines"°"°]woi sv"emmns�u°�wlui<w�r�mxatroE a-=roxoreoo�Awue vim _ .rr� erhroeAsnoreuAeaG "'E .ur..sua®erwrwAvooa • CaII LMweyou dg GRPPHIOALSCAIE r-zao 4]o awwmuyoMueFnvrnen 'Xtl V m} SURVEY�U SYSTEMS n�r�w Home ereo�wc mu eeaa CENITRAL WELD G0UNTY IAND SURVEY PLAT NE tld SECTION Z8, TBN, R84W LOT C, RECOROEO E%EMPDON NO, eBpIP5�1RE�10 PROPEAM.00AA0A AAA A.AAAAAAA VEOATE: LRa•14 m,A,AAAx, 0 70 Ranch, LLC Legal Description CENTRAL WELD LAND SURVEY PLAT �i;avrr*w�un;vFou,�a �iarA7t8,i� nm GRAPMCRLSCpIE PARCELS OF LAND SITUATED IN TOWNSHIP 4 NORTH, RANGES 62, 63 & 66 WEST, TOWNSHIP 5 NORTH, RANGES 62, 63 & 64 WEST AND TOWNSHIP NORTH, RANGE 64 EST, OF THE 6TH PRINCIPAL MERIDAN, COUNTY OF WED, STATE OF COLORADO 1ml��li6TY,e1H�w1 SURVEY1SYSTEMS msrv�i II�� m-Bey,em,fppMn I Fcmf s s� r BtA4,P ulelfiti 5i.WFs tt" NOslIW CENTRAL WELD COUNTY LAND SURVEY PLAT LOT5106 ii 112E 1R SECTION 3, TSN, R6S SECTION I], i5N, 0.S9W «""am�,".`FoMmF'TMw�,wms ",nuFn�o� oF�mr"xnSknnesSlroV,u,�a< nSSaeSmausrmxiw�e�"u,mFer'."es.Su'wmrwuo w.i%Fiin:ar'iaoTMemn Smnxulo exoxm lou ire u" x�rnmo•sr,rwFsmm��o.,m Pl PFAIYIOC"LIW.W0IKWYPMN ISSUE WlE YM•N 7 70 Ranch, LLC Legal Description CENTRAL WELD LAND SURVEY PLAT lid VIII IN�+IYR�W i7PNi Vffi IN[6MA�IrIN1.'N AhW'YU M II I PARCELS OF LAND SITUATED IN TOWNSHIP 4 NORTH, RANGES 62, 63 & 66 WEST, TOWNSHIP 5 NORTH, RANGES 62, 63 & 64 WEST AND TOWNSHIP 6 NORTH, RANGE 64 WEST, OF THE 6TH PRINCIPAL MERIDIAN, COUNTY OF WELD, STATE OF COLORADO s�xueais a"'riiofo�e e � sm°�'m� `w°'c P 1B1e '^^S8019'4YW 2050.55' 5892138W 2034.'/8' PROPERTY OESCRIMON omx, awxne xs vhsxnvme em P u NOTES 5. ,xliwAv[YeF�mMF ¢D MW0p�i�rt�x�vean�s��o�xni o nYEemW &�w�.m �pµvo[�ec,n wasscnox,arwmsME r� ir�u,uureM sx CallEFu me GR4PHIG<LSCNE 1=502' rJ SURVEY (*SYSTEMS uvo� mlwq ergmn mp,al x3nve, vm.npiM&na wec�ul� CEMPAL WELD COUNTY LAND SURVEY PLAT O 612813 Pxwrmr wcnTax N10Ixf oxunTlrn eL 20 70 Ranch, LLC Legal Description %pl F?�t7l6ARIiYh'fll IHIi!'giNTJMLt116 i+l N AI CENTRAL WELD LAND SURVEY PLAT PARCELS OF LAND SITUATED IN TOWNSHIP 4 NORTH, RANGES 62, 63 & 66 WEST, TOWNSHIP 5 NORTH, RANGES 62, 63 & 64 WEST AND TOWNSHIP 6 NORTH, RANGE 64 WEST, OF THE 6TH PRINCIPAL MERIDIAN, COUNTY OF WELD, STATE OF COLORADO /////ks �ti,%f/;,;1%/f//f//// A P621.D9.\ OTi4 6�649ACt rMxiwn mfsza PROPERTY OE6CNIPTION Ybsramsxamx. w,xssmvssrarcesmvm mi, �.v,suina [aRlxpsavEw�sF xoxfxunma2SNfMxUMWeiw i�sRN \\\\\ N69°EDRPE\, ]617.99\\� f\ .aw�cra,wswmn �az MEsioFElliEmf �u�ivu�sRroiA�isMw.viw&im s�YAakI.MiNW ��naME orseefz�o xnwzs A e.s at i M sraMsmfsmzar,n¢samR SNouNssflas sof Ecerl,aaamfaf. n WavtgraF%xnoNf;mm9iw" r�sw,x saouH[rF ns Mo�ATM�rsim vF�DaRtoifs�. GRAPM40,E r-suD SURVEYG�SYSTEMS P.A�=,®.e�a�mmm 9,sammsafn ,s�� CENTRAL WELD COUNTY LANo suRVEv aJaT L07514676 6ECTION,7,TER161W 2, W 1YL, SECTION 16. T6N, IN ISSUE. 9 Ain 0 Ranch, LLC Le al Descri lion av�nat�lw'a�irviartiw.di�sna nm \SBA'5346W\\2711.98' ivwmwxmrM CENTRAL WELD LAND SURVEY PLAT PARCELS OF LAND SITUATED IN TOWNSHIP 4 NORTH, RANGES 62, 63 & 66 WEST, TOWNSHIP 5 NORTH, RANGES 62, 63 & 64 WEST AND TOWNSHIP 6 NORTH, RANGE 64 WEST, OF THE 6TH PRINCIPAL MERIDIAN, COUNTY OF WELD, STATE OF COLORADO wrtxixmAffYE srxnFr gm�ir rim iosm�nsucNosFFEir�xn�rtvtM Hnr�ACnaN6+�9Foi sEcnwrarxnr>Avemoru�mcomnsnroro xAvex ixrEerMexrmysreroeeoummxoamu TMasw ee muaxcrNwnxverrsmoMms.w,Ean�e worzrnexmmwasnamimoEmresn mamr.suc�nn+xo_m,emz ocm,.,,nnA: e�aixcsu�arunaurx<savmLmeaTMewumusraumnoracn�m,rwms«xe [ssrA!ooxtirtxEsi. suoux2ousss�WmNspmwv�sA wr EMmsYxi!•NWiNUMCIs siNAPmu,xnl axrx[ 11. 6NaamcnLscALE tsar vmv,mrnmw.esainu,ss o -l- SURVES YSYSTEMS .cse�m.vws STem cErrrRA E' c r" LANG SURVEY PLAT LOTS 1661] 2NNiN,SECTION2gT5N,- SECIION21,T5N,Rft3W m�mr LaA,aN.Nm BrdBxAnox 10 70 Ranch, LLC Legal Description ��udu;uHe�a�irn`�+M�nairm�muLL vui RRa CaO behreyou dB`I� GPPPHI[A15 tsm CENTRAL WELD LAND SURVEY PLAT PARCELS OF LAND SITUATED IN TOWNSHIP 4 NORTH, RANGES 62, 63 &.66 WEST, TOWNSHIP 5 NORTH, RANGES 62, 63 & 64 WEST AND TOWNSHIP 6 NORTH, RANGE 64 WEST, OF THE 6TH PRINCIPAL MERIDIAN, COUNTY OF WELD, STATE OF COLORADO SURVEY(4,)SYSTEMS -E�.mmur w a,a CENTRAL WELD COUNTY LAND SURVEY PLAT LOT9188 i8 9EOPON 22, TSN, R.W SECTION 2& T5N. Rb3W ar e,N�,"'n1x=a,07 vxo�mriac+naxµowaw.unox issueonre myna s`01,issr�aw,mnmw.snccm rxxelR rn� aw17,70,- rrr� r�� r..wr®erxmxoxvoan...r≤ SNEET NO. 11 11 aF 70 Ranch, LLC Legal Description �411WxAN.I1NI��NOH[M#iH'Wl},Y1lMIP91h'FlYIN1 �I NI CENTRAL WELD LAND SURVEY PLAT PARCELS OF LAND SITUATED IN TOWNSHIP 4 NORTH, RANGES 62, 63 & 66 WEST, TOWNSHIP 5 NORTH, RANGES 62, 63 & 64 WEST AND TOWNSHIP 6 NORTH, RANGE 64 WEST, OF THE 6TH PRINCIPAL MERIDIAN, COUNTY OF WELD, STATE OF COLORADO srnwoeaLs.s,sosus� PROPERttoEscaP6rox aam aura owe-srarnrtsrne.0 NOTES sa srnuF,mxeaomw auusrnrcovuceaxruaaacnoxars muwx wreerTcrNrxisauxun arimcpmmumisrmscovtnsvcxosyscr. ixuoevnua��xxaxm�sso� �nxroermw >wissuxsv mai.�sxcsouoaerx.w nrrenxacaw msunnmx. i c s sra�ixEemr'�xinevuu�wiw„Weuv.°xi,m®�asuuuiaurss°`mn�wso,sn<i«`�iMEs 4 srnr9�sxw�+ovrxsaMau. Can GMPHICALECRLE fssar suRyn P�o�,q i,m ax��9 rpm.ry O CENTRAL:Lo Tir LAND SURVEY PLAT �oTszoszi SECTION z/, 76N, R69W SECTION 19, T6N, R9ZW PaavEAry LOGTON ANOIx=oa i99�E DATE: 22Yf< 12 70 Ranch, LLC Legal Description �uiim��uvuaiiaiurb6uiui��iira"oai�vro� nm 32' a 6 CENTRAL WELD LAND SURVEY PLAT PARCELS OF LAND SITUATED IN TOWNSHIP 4 NORTH, RANGES 62, 63 8,66 WEST, TOWNSHIP 5 NORTH, RANGES 62, 63 & 64 WEST AND TOWNSHIP 6 NORTH; RANGE 64 WEST, OF THE 6TH PRINCIPAL MERIDIAN, COUNTY OF WELD, STATE OF COLORADO -OE LOT 22 624.42 ACt NOTFS ��Pm`e oY°Rsu�x��r�xo'nvnwru°'`5`rr xrn�ww�se�uwx`xw'".��x =xs9ux,9ve9c.aPs,xwnxvva9mou,xewaa,�cunFrnnw9'urmre�ac ux99"°u`w,s"xanmo �o nswes°"��"� or, =uMiw.vwsA�nw ounory x`ixEr umo`�,� 'oiiM u� vaov6mY o6sc5�vrx>H YWM9NW9N0PW.PA 6=Nf9t 0r=xP9=x PM 91A CAA 63033AOx CaA newre You d& caanncuscue r-wtt IROR SURVEY (*SYSTEMS AP ,n,.,x.w un, o„wm CELANTOIDCDUNTY LAND SDRVEV PLAT 01522&23 SECTION 20 TSN SECTION 27. T5N.1 13RO ORAR 70 Ranch, LLC Legal Description w'�+"eaa`iitiaitraw�Cuiw7ln�tii�minrvm�iui VROPE scwmoN w CENTRAL WELD LAND SURVEY PLAT PARCELS OF LAND SITUATED IN TOWNSHIP 4 NORTH, RANGES 62, 63 & 66 WEST, TOWNSHIP 5 NORTH, RANGES 62, 63 & 64. WEST AND TOWNSHIP 6 NORTH, RANGE 64 WEST, OF THE 6TH PRINCIPAL MERIDIAN, COUNTY OF WELD, STATE OF COLORADO 90 �ouN a'aa'°""a.srrea®mawo,�m,Px NO1F5 omau,NEo.xamHu��G.oAs.Ha,mNar ��a�Na,a�a.o�u�auwi°a�na`,°�"�'�� m awwims.�NaamNsiev«aaN�Noeo �:u��a m•""Mx°.E� Y°N�E„vw,aar�na,H x ,mss �-wmmmar�.a�w iisNaoa`aacr=t a.a-ua,�aNvnn�ME GPAPHICALSCNE v % my �Ncrnonourwnum„ce SURVEYA PO TEMS cENtRALw V couNn LAND SURVEY PLAT LOT52d & 25 ...1,ioalwxuroNva M1PR. IasaE wre 70 Ranch, LLC Legal Description �i�r�'%r�rtv`,ii� �a �tuipsnurrnvnrrna ®ri \NM° fY OESCRIPTICN uw OBrArEom�owaor,�sm Px g �e+s9ar OT 26 fi2fi.S6 ACS CENTRAL WELD LAND SURVEY PLAT PARCELS OF LAND SITUATED IN TOWNSHIP 4 NORTH, RANGES 62, 63 & 66 WEST, TOWNSHIP 5 NORTH, RANGES 62, 63 & 64 WEST AND TOWNSHIP 6 NORTH, RANGE 64 WEST, OF THE 6TH PRINCIPAL MERIDIAN, COUNTY OF WELD, STATE OF COLORADO aFlt cso� 1X�slM�fYOECb.M N vmIN�A4�eerm�mia W su�a�Eo,s', xwexwmmn�sau,umwws,µptn Lsb,naNlx[soNlt sucrv�eewes MxamoxsJi'xmlF� �W�xIsuMFMFoaWi'aRwm �rm�MBEcrµ�IXl x9r'. � sY/.1SN.UMiNW e�eFe�cYI�I,LM�goleµn �HsswM cuotx[a�waudtme•,r,exsm�Fe �nl rN EON Call belaeYvu dg. SURVEY ISYSTEMS armed i � cony v�naes^�snrm��r � �srs.na cENTRALwELD couNTv LAND SURVEY PLAT LOTS26, 2]828 SECTION 29, TSN, R82W SECTION S1, TSN, RA3W R+a'mrcO.O0Owouaaxw 15 5 70 Ranch, LLC Legal Description 211 21144.-, VIII CENTRAL WELD LAND SURVEY PLAT PARCELS OF LAND SITUATED IN TOWNSHIP 4 NORTH, RANGES 62, 63 & 66 WEST, TOWNSHIP 6 NORTH, RANGES 62, 63684, 64 WESTAND TOWNSHIP 6 NORTH, RANGE WEST, OF THE 6TH PRINCIPAL MERIDIAN, COUNTY OF WELD, STATE OF COLORADO NOTES ,x; i BEDNMMCKKfS.„2,5,1iKKKKfuo ei No iN aSnWMnuuc��rs=ar Isni, EBFT--miss =,==. 0. ME�MrsfKKEhI98NrvfvnoEus.smuF'ffei Call betas Wutllg. v arsc�E SURVEY (*SYSTEMS , . ,me1 s.-E....CP.. :=====7.:,smf.sia. rely 6e CENTRAL WELD COUNTY IAND SURVEY PLAT a szsa3o 114 Emwem Laanml.Nb mroawnon famafm�„�„ sTM DA 16 coum; vuo srere Co 18 70 Ranch, LLC Legal Description CENTRAL WELD LAND SURVEY PLAT PARCELS OF LAND SITUATED IN TOWNSHIP 4 NORTH, RANGES 62, 63 & 66 WEST, TOWNSHIP 5 NORTH, RANGES 62, 63 & 64 WEST AND TOWNSHIP NORTH, RANGE 64 WEST, OF THE 6TH PRINCIPAL MERIDAN, COUNTY OF WELD, STATE OF COLORADO ,w � mxPM w> \�\ aea � \ ON n4lw, trxx� \ OT31 61322 ACt 509°34'42 , ]09.9T rS' IM ynu dgl GRAPHICAL SCN.E 1� PRO SURVEY *SYSTEMS -cws.x..mewr ns.,m5 v7,,,ew.,IDw. CENTRAL WELD COUNN LAND SURVEY PLAT LOT537 032 6ECTION3TT6N,R SECTION 39, TSN, RB2W LOT 32 835.19ACs N89°3139'E 28.06' 609°34'16W\\\1892.fiS �\\�,>\\\\\\�N69°3]'04'E\\262/.06' �\\\\\�� mnl'�enivu t NO EK.UAOYgiawrwDpuwrw W5rwwt&ax� wTR vax��A��vE011Mi Wn Hump Aw�dt rYvrt�srM �iME�MS µ�vn��pwx Haxp,ew oo� ��NVM GM�5inMP nt9 R+xoNi n arlE o WEsrRr'.F orss,. 5IffEfNO e3 17 17 OF 20 7il Ranch, LLC Le al Descri tion CENTRAL WELD LAND SURVEY PLAT PARCELS OF LAND SITUATED IN TOWNSHIP 4 NORTH, RANGES 62, 63 & 66 WEST, TOWNSHIP 5 NORTH, RANGES 62, 63 & 64 WEST AND TOWNSHIP 6 NORTH, RANGE 64 WEST, OF THE 6TH PRINCIPAL MERIDIAN, COUNTY OF WELD, STATE OF COLORADO uSa t� vn�®�uxTMi ��moxxo. �*etxs nlxANCH. LLc,�ca.IXun0LNrtmws�urccam, a5•sa�w NOlE5 x[Ws5rxowins9FW.lr cx Wuelrs xrt�� F r,Fie iirw ir.iixw�Fu'as F�Wi i7,Eo �Ni�sr�iems �azexeFtTMuulsuNusaame.¢ pM1HxN oxliN uvr� w l�Tsysal — vaFLssoumivxs ,6-:x4 ue �cuxommouo,m,mn,w„ ,„ca SURVEY S SYSTEMS "6^. CENTRALS WELD CDAr LAND SURVEY PLAT SECTION 3, T4N, R83W SECTION m+wfxn iaumx axo m5awxemx 55mw5ux5�m, ,m 5 18 70 Ranch, LLC Legal Description CENTRAL WELD LAND SURVEY PLAT �p11R�+F{Atl�114A1Ntl�11 AYIiNAMA161VM1MtlaI' Cpl SET34'42w trn'r�uw� Tas,9r PARCELS OF LAND SITUATED IN TOWNSHIP 4 NORTH, RANGES 62, 63 8 66 WEST, TOWNSHIP 5 NORTH, RANGES 62, 63 & 64 WEST AND TOWNSHIP 6 NORTH, RANGE 64 WEST, OF THE 6TH PRINCIPAL MERIDIAN, COUNTY OF WELD, STATE OF COLORADO �PS[cs\ rxruer uci errxvso�axae 41-10 PR0PERIY0ESLRIP11O.4 NIlo.4lAlEaFar.0MN9E nx. x aw ��wev,ax IXlONG01AWYW Wu5YYbWa.,Eeinlicu Aenoxstzfl ax nnsn nwNixu cwsrusE0lsraxwx�s,mFTMExuxs_xoxm+m mEem�mrvcmu mmow`x"u Ma+uxsx„arn ru— xaxm.xxo..�s.e wixuucunuxv,uma,r�ss,m. sniouxeo.xsxo Maxmnswmlxsnnanmrnx m cxsowuw,Ws,w.cs CE Ax rrbvxme[wx+�.wousru� CR4PFAG15'CPLE v 1-500' my SURVEY*SYSTEMS SYSTEMS rs maze aa CF_MRAL WELL COUNiV LAND SURVEY PLAT LOTS 3a a aT / SECTION 3, T4N, R IRRRELnre vRRIu 70 Ranch, LLC Legal Description �iuxXi��r�¢u��L+rwnn"�a�uwti7 nriaew� nm ooF•+vsv PROPERTY OE9LRIPFION � s,x�i[aFmv.Fsrm,xEemsM. cwHnoFw6x. caWuw CENTRAL WELD LAND SURVEY PLAT PARCELS OF LAND SITUATED IN TOWNSHIP 4 NORTH, RANGES 62, 63 & 66 WEST, TOWNSHIP 5 NORTH, RANGES 62, 63 & 64 WEST AND TOWNSHIP 6 NORTH, RANGE 64 WEST, OF THE 6TH PRINCIPAL MERIDIAN, COUNTY OF WELD, STATE OF COLORADO ...,� ooxm[CNtWuvwnvmnrsas,otnxmgrrxsuracEvrcxxx isersRm�w�emis x'vs. STrxux Wr x9rri rnw LR�NILw SURVEYS SYEMS 1•=5W' ° "MeSTry m-�v.�coeom x - v sm + O'x....a�waw ma c�cunr n� rxxn�am� 00 0 k®Y,V¢BAun�mFr�omxueo[llRxoxnF.u•Twrmwam:mNlo. xye Cusrumenraxa.E.:w�r. wuuN�F xwµirrx�m rxsss Fa5Fo N1HFxortmuNFCFn[xpgixVsrWaxrnars[rnpv l.ioMNFNRf TME xiex 9WurvamiaHesMoxuuFxiEooVxasAWuwuuuxsruawnts RaxaNSNe ,sm'F, io[ xoTHW[¢Y usilFgi[Oixx xF41xER1PavxoFaFlgiNx� IsiNi[E " RALwELo cit?" LANG SURVEY PLAT LOTS 33839 SECTI0N1g TaN,R33W SECTION ], T4N, RSEW Pa xFr�or,+,noxu+o WraRu.�tw,v xcrPta� t. 1.00 A0.0001 000.0i issUEOPTE 20.00 0 00 20 United Milliken Reservoir Enterprise, LLC Property Legal Description LEGAL DESCRIPTION OF THE PROPERTY TO BE INCLUDED INTO PLATTE RIVER METROPOLITAN DISTRICT A PART OF SECTION 26, TOWNSHIP 4 NORTH, RANGE 67 WEST OF THE 6TH P.M., COUNTY OF WELD, STATE OF COLORADO COMMENCING AT THE SOUTHWEST CORNER OF SAID SECTION 26; THENCE N0°04'47"E ALONG THE WEST LINE OF THE SOUTHWEST QUARTER OF SAID SECTION 26, A DISTANCE OF 1,239.81 FEET TO THE POINT OF BEGINNING OF PARCEL I: THENCE N0°04'47"E ALONG SAID WEST LINE, A DISTANCE OF 1,400.95 FEET TO THE WEST QUARTER OF SAID SECTION 26 AS MONUMENTED BY A 2 1/2" ALUMINUM CAP "PLS 28656"; THENCE N0°02'39"E ALONG THE WEST LINE OF THE NORTHWEST QUARTER OF SAID SECTION 26, A DISTANCE OF 2,605.02 FEET TO A POINT LYING 36.04 FEET SOUTHERLY ALONG SAID LINE FROM THE NORTHWEST CORNER OF SAID SECTION 26, AS MONUMENTED BY A 3" ALUMINUM CAP "PLS 25619"; THENCE EASTERLY ALONG AN EXISTING FENCE LINE, THE FOLLOWING 6 COURSES; 1) THENCE S80°46'14"E, A DISTANCE OF 33.08 FEET; 2) THENCE S67°58'39"E, A DISTANCE OF 1,036.08' FEET; 3) THENCE S87°11'27"E, A DISTANCE OF 676.32 FEET; 4) THENCE S55°02'31 "E, A DISTANCE OF 168.79 FEET; 5) THENCE S65°42'32"E, A DISTANCE OF 245.15 FEET; 6) THENCE S72°07'53"E, A DISTANCE OF 893.32 FEET TO A POINT ON THE NORTHWESTERLY RIGHT OF WAY LINE OF THE FORMER UNION PACIFIC RAILWAY AS CONVEYED TO PUBLIC SERVICE COMPANY AT RECEPTION NO. 2170560, AS RECORDED WITH THE CLERK AND RECORDER, COUNTY OF WELD, STATE OF COLORADO; THENCE ALONG SAID NORTHWESTERLY RIGHT OF WAY LINE THE FOLLOWING 6 COURSES: 1) THENCE ALONG THE ARC OF A NON -TANGENT CURVE TO THE RIGHT WHOSE CHORD BEARS S48°32'02"W, A DISTANCE OF 336.00 FEET, SAID CURVE HAVING A CENTRAL ANGLE OF 3°23'38", A RADIUS OF 5673.31 FEET AND AN ARC LENGTH OF 336.05 FEET TO A POINT OF TANGENCY; 2) THENCE S50°13'51"W ALONG SAID TANGENT, A DISTANCE OF 1,229.86 FEET TO A POINT OF CURVE; 3) THENCE ALONG THE ARC OF A TANGENT CURVE TO THE LEFT WHOSE CHORD BEARS S42°32'21"W, A DISTANCE OF 538.01 FEET, SAID CURVE HAVING A CENTRAL ANGLE OF 15° 23' 00", A RADIUS OF 2009.86 FEET AND AN ARC LENGTH OF 539.63 FEET TO A POINT OF TANGENCY; 4) THENCE S34°50'51 "W ALONG SAID TANGENT, A DISTANCE OF 666.20 FEET TO A POINT OF CURVE; 5) THENCE ALONG THE ARC OF A TANGENT CURVE TO THE RIGHT WHOSE CHORD BEARS S37°35'15"W, A DISTANCE OF 544.24 FEET, SAID CURVE HAVING A CENTRAL ANGLE OF 5° 32' 30", A RADIUS OF 5629.28 FEET AND AN ARC LENGTH OF 544.46 FEET TO A POINT OF TANGENCY; 6) THENCE S40°10'14"W ALONG SAID TANGENT, A DISTANCE OF 947.41 FEET TO THE POINT OF BEGINNING OF PARCEL I. SAID PARCEL CONTAINS 5,355,250 SQ. FT., 122.94 ACRES MORE OR LESS. BASIS OF BEARING STATEMENT: THE BASIS OF BEARINGS FOR THIS LEGAL DESCRIPTION IS BETWEEN THE FOUND MONUMENTS ON THE WEST LINE OF THE SOUTHWEST QUARTER OF SAID SECTION 26 THE BEARING OF SAID LINE IS N0°04'47"W. PREPARED BY: GERALD MATT NICHOLS, P.L.S. # 38026 ON BEHALF OF: SURVEY SYSTEMS INC. P.O. BOX 2168 EVERGREEN, COLORADO 80437 (303) 679-8122 A NO CHANGES ARE TO BE MADE TO THIS DRAWING WITHOUT WRITTEN PERMISSION OF SURVEY SYSTEMS INC. ISSUE DATE: 3/3/20 DATE REVISION COMMENTS EXHIBIT A SURVEY SYSTEMS A Professional Land Surveying Company P.O. Box 2166 - Evergreen, CO 80437 Tel: 303.679.8122 - Fax: 303.679.0123 Info@Survey5ystems.nel www.SurveySyslemslnc.com A Service-0lsahled Veteren-Owned Small Business SOVOSB SBE CHECKE01 DRAwN By doe N: 2a,: CLIENT CO MN UW 2 STEBT NO. 1 0, 7 United Milliken Reservoir Enterprise, LLC Property Legal Description LEGAL DESCRIPTION OF THE PROPERTY TO BE INCLUDED INTO PLATTE RIVER METROPOLITAN DISTRICT A PART OF SECTION 26, TOWNSHIP 4 NORTH, RANGE 67 WEST OF THE 6TH P.M., COUNTY OF WELD, STATE OF NORTHWEST CORNER SEC110N 26 ALUMINUM CAP "PLS 25619' N SO°02'39"W 36.04' W co U J O Oit a on CD II sew S80°46'14"E 33.08' WEST UNE OF THE NORTHWEST 1/4 SECTION 26 WEST 1/4 CORNER SECTION 26 2 1/2" ALUMINUM CAP ,LS 28656" WEST UNE OF THE Fn 5OUTHWE50 1/4 SECTION 26 6 COLORADO S87° 11'27"E 676.32' EXISTING FENCE S55°02'31 "E 168.77 WEST 1/4 CORNER S65°42'32"E_ 62002 2s 245.15' 2 1/2" ALUMINUM CAP "PUS 28656" PARCEL 1 5,355,250 SQUARE FEET 122.9 ACRES MORE OR LESS 0=15°23'00" R=2009.86' L=539.63' CH=S42°32'21 "W 538.01' S40° 10' 14"W 947.41' POINT OF BEGINNING POINT OF COMMENCEMENT SOUTHWEST CORNER SECTION 26 FOUND WITNESS CORNERS 0=5°32'30" R=5629.28' L=544.46' CH=S37°35'15"W 544.24' 572°07'53"E 893.32' NORTHWESTERLY RIGHT OF WAY UNE OF THE FORMER UNION PACIFIC RAILWAY 0=3°23'38" R=5673.31' L=336.05'- CH=S48°32'02"W 336.00' NOTE: THIS EXHIBIT DOES NOT REPRESENT A MONUMENTED LAND SURVEY. IT IS INTENDED TO DEPICT ONLY THE ATTACHED LEGAL DESCRIPTION. NO CHANGES ARE TO BE MADE TO THIS DRAWING WITHOUT WRITTEN PERMISSION OF SURVEY SYSTEMS INC. ISSUE DATE: 3/3/20 DATE REVISION COMMENTS EXHIBIT A SURVEY SYSTEMS A Professional Land Surveying Company P.O. Box 2168 - Evergreen, CO 80437 Tel: 303.679.8122 - Fax: 303.679.8123 ,c`"" T,T; A service-Ofsaeled veteran -Owned Small Business SDVOSB SBE EO BY: MN 23 .FEET Ve. 2 OF United Milliken Reservoir Enterprise, LLC Property Legal Description LEGAL DESCRIPTION OF THE PROPERTY TO BE INCLUDED INTO PLATTE RIVER METROPOLITAN DISTRICT A PART OF SECTIONS 23, 26, 34, AND 35, TOWNSHIP 4 NORTH, RANGE 67 WEST OF THE 6TH P.M., COUNTY OF WELD STATE OF COLORADO BEGINNING AT THE SOUTHWEST CORNER OF SAID SECTION 26, TOWNSHIP 4 NORTH, RANGE 67 WEST; THENCE N0°04'47"E ALONG THE WEST LINE OF THE SOUTHWEST QUARTER OF SAID SECTION 26, A DISTANCE OF 929.26 FEET TO A POINT ON THE SOUTHEASTERLY RIGHT OF WAY LINE OF THE FORMER UNION PACIFIC RAILWAY AS CONVEYED TO PUBLIC SERVICE COMPANY AT RECEPTION NO. 2170560, AS RECORDED WITH THE CLERK AND RECORDER, COUNTY OF WELD, STATE OF COLORADO; THENCE ALONG SAID SOUTHEASTERLY RIGHT OF WAY LINE THE FOLLOWING 7 COURSES: 1) THENCE N40°10'14"E, A DISTANCE OF 1,185.00 FEET TO A POINT OF CURVE; 2) THENCE ALONG THE ARC OF A TANGENT CURVE TO THE LEFT WHOSE CHORD BEARS N37°35'06"E, A DISTANCE OF 562.82 FEET, SAID CURVE HAVING A CENTRAL ANGLE OF 5° 32' 03", A RADIUS OF 5829.20 FEET AND AN ARC LENGTH OF 563.04 FEET TO A POINT OF TANGENCY; 3) THENCE N34°50'51"E ALONG SAID TANGENT, A DISTANCE OF 666.20 FEET TO A POINT OF CURVE; 4) THENCE ALONG THE ARC OF A TANGENT CURVE TO THE RIGHT WHOSE CHORD BEARS N42°32'21"E, A DISTANCE OF 484.47 FEET, SAID CURVE HAVING A CENTRAL ANGLE OF 15° 23' 00", A RADIUS OF 1809.86 FEET AND AN ARC LENGTH OF 485.93 FEET TO A POINT OF TANGENCY; 5) THENCE N50°13'51 "E ALONG SAID TANGENT, A DISTANCE OF 1,229.86 FEET TO A POINT OF CURVE; 6) THENCE ALONG THE ARC OF A TANGENT CURVE TO THE LEFT WHOSE CHORD BEARS N43°22'51"E, A DISTANCE OF 1401.03 FEET, SAID CURVE HAVING A CENTRAL ANGLE OF 13° 42' 00", A RADIUS OF 5873.31 FEET AND AN ARC LENGTH OF 1404.38 FEET TO A POINT OF TANGENCY; 7) THENCE N36°31'51 "E ALONG SAID TANGENT, A DISTANCE OF 2,519.41 FEET TO A POINT ON THE EAST LINE OF THE SOUTH EAST QUARTER OF SAID SECTION 23; THENCE S00°49'15"E ALONG SAID EAST LINE, A DISTANCE OF 1,869.42 FEET TO THE NORTH EAST CORNER OF SAID SECTION 26, AS MONUMENTED BY A 3 1/4" ALUMINUM CAP "PLS 16154"; THENCE S00°30'21 "W ALONG THE EAST LINE OF THE NORTH EAST QUARTER OF SAID SECTION 26, A DISTANCE OF 2,535.55 FEET TO THE EAST QUARTER CORNER OF SECTION 26, AS MONUMENTED BY A 2" ALUMINUM CAP "PLS 12374"; THENCE S00°15'58"E ALONG THE EAST LINE OF THE SOUTH EAST QUARTER OF SAID SECTION 26, A DISTANCE OF 711.99 FEET TO A POINT LYING ON THE NORTHERLY LINE OF THE WESTERN MUTUAL DITCH AS DESCRIBED IN BOOK 118 AT PAGE 498, AS RECORDED WITH THE CLERK AND RECORDER, COUNTY OF WELD, STATE OF COLORADO; THENCE ALONG SAID NORTHERLY, WESTERLY AND SOUTHWESTERLY LINES OF SAID WESTERN MUTUAL DITCH THE FOLLOWING 19 COURSES: 1) THENCE N82°24'42"W, A DISTANCE OF 210.93 FEET TO A POINT OF CURVE; 2) THENCE ALONG THE ARC OF A TANGENT CURVE TO THE LEFT WHOSE CHORD BEARS S53°21'02"W, A DISTANCE OF 634.85 FEET, SAID CURVE HAVING A CENTRAL ANGLE OF 88° 28' 31", A RADIUS OF 455.00 FEET AND AN ARC LENGTH OF 702.60 FEET TO A POINT OF TANGENCY 3) THENCE S09°06'47"W ALONG SAID TANGENT, A DISTANCE OF 862.16 FEET TO A POINT OF CURVE; 4) THENCE ALONG THE ARC OF A TANGENT CURVE TO THE LEFT WHOSE CHORD BEARS S15°37'56"E, A DISTANCE OF 257.01 FEET, SAID CURVE HAVING A CENTRAL ANGLE OF 49° 29' 26", A RADIUS OF 307.00 FEET AND AN ARC LENGTH OF 265.18 FEET TO A POINT OF TANGENCY; 5) THENCE S40°22'39"E ALONG SAID TANGENT A DISTANCE OF 39.74 FEET TO A POINT OF CURVE; 6) THENCE ALONG THE ARC OF A TANGENT CURVE TO THE RIGHT WHOSE CHORD BEARS S14°38'38"E, A DISTANCE OF 225.78 FEET, SAID CURVE HAVING A CENTRAL ANGLE OF 51° 28' 03", A RADIUS OF 260.00 FEET AND AN ARC LENGTH OF 233.55 FEET TO A POINT OF TANGENCY; 7) THENCE S11 °05'23"W ALONG SAID TANGENT, A DISTANCE OF 555.88 FEET TO A POINT OF CURVE; (CONTINUED ON SHEET 4) NO CHANGES ARE TO BE MADE TO THIS DRAWING WITHOUT WRITTEN PERMISSION OF SURVEY SYSTEMS INC. ISSUE DATE: 3/3/20 DATE REVISION COMMENTS EXHIBIT A SURVEY S SYSTEMS A Professional Land Surveying Company P.O. Box 2168 - Evergreen, CO 80437 Tel: 303.679.8122 - Fax: 303.679.8123 In(°@Survey5ystems.nel uHnv.5urvey5ystemslnc.com ASeMce-Disahletl VB1e2n�Owned Small B"siness SOVOBB SBE NECKED SHEET uo, 3 3 0, 7 United Milliken Reservoir Enterprise, LLC Property Legal Description LEGAL DESCRIPTION OF THE PROPERTY TO BE INCLUDED INTO PLATTE RIVER METROPOLITAN DISTRICT A PART OF SECTIONS 23, 26, 34, AND 35, TOWNSHIP 4 NORTH, RANGE 67 WEST OF THE 6TH P.M., COUNTY OF WELD, STATE OF COLORADO (CONTINUED FROM SHEET 3) 8) THENCE ALONG THE ARC OF A TANGENT CURVE TO THE RIGHT WHOSE CHORD BEARS S19°20'04"W, A DISTANCE OF 160.60 FEET, SAID CURVE HAVING A CENTRAL ANGLE OF 16° 29' 20", A RADIUS OF 560.00 FEET AND AN ARC LENGTH OF 161.16 FEET TO A POINT OF REVERSE CURVE; 9) THENCE ALONG THE ARC OF A TANGENT CURVE TO THE LEFT WHOSE CHORD BEARS S2°30'08"E, A DISTANCE OF 501.23 FEET, SAID CURVE HAVING A CENTRAL ANGLE OF 60° 09' 44", A RADIUS OF 500.00 FEET AND AN ARC LENGTH OF 525.01 FEET TO A POINT OF TANGENCY; 10) THENCE S32°35'00"E ALONG SAID TANGENT, A DISTANCE OF 300.25 FEET TO A POINT OF CURVE; 11) THENCE ALONG THE ARC OF A TANGENT CURVE TO THE LEFT WHOSE CHORD BEARS S45°05'25"E, A DISTANCE OF 346.49 FEET, SAID CURVE HAVING A CENTRAL ANGLE OF 25° 00' 48", A RADIUS OF 800.00 FEET AND AN ARC LENGTH OF 349.25 FEET TO A POINT OF TANGENCY; 12) THENCE S57°35'48"E ALONG SAID TANGENT, A DISTANCE OF 371.71 FEET TO A POINT OF CURVE; 13) THENCE ALONG THE ARC OF A TANGENT CURVE TO THE RIGHT WHOSE CHORD BEARS S31 °23'17"E, A DISTANCE OF 273.82 FEET, SAID CURVE HAVING A CENTRAL ANGLE OF 52° 25' 04", A RADIUS OF 310.00 FEET AND AN ARC LENGTH OF 283.61 FEET TO A POINT OF TANGENCY; 14) THENCE S05°10'44"E ALONG SAID TANGENT, A DISTANCE OF 64.90 FEET TO A POINT THAT LIES ON THE EAST LINE OF THE NORTH EAST QUARTER OF SAID SECTION 35 ; 15) THENCE S00°33'43"E ALONG SAID EAST LINE 102.29 FEET TO A POINT OF CURVE; 16) THENCE DEPARTING FROM SAID EAST LINE AND ALONG THE ARC OF A NON -TANGENT CURVE TO THE RIGHT WHOSE CHORD BEARS S23°52'35"W, A DISTANCE OF 131.06 FEET, SAID CURVE HAVING A CENTRAL ANGLE OF 29° 11' 45", A RADIUS OF 260.00 FEET AND AN ARC LENGTH OF 132.49 FEET TO A POINT OF TANGENCY; 17) THENCE S38°28'27"W ALONG SAID TANGENT, A DISTANCE OF 300.18 FEET TO A POINT OF CURVE; 18) THENCE ALONG THE ARC OF A TANGENT CURVE TO THE LEFT WHOSE CHORD BEARS S24°53'48"W, A DISTANCE OF 206.59 FEET, SAID CURVE HAVING A CENTRAL ANGLE OF 27° 09' 20", A RADIUS OF 440.00 FEET AND AN ARC LENGTH OF 208.54 FEET TO A POINT OF TANGENCY; 19) THENCE S11 °19'07"W ALONG SAID TANGENT A DISTANCE OF 21.13 FEET TO A POINT LYING ON THE NORTH LINE OF THE SOUTH EAST QUARTER OF SAID SECTION 35; THENCE S89°31'02"E ALONG SAID NORTH LINE, 336.43 FEET TO THE EAST QUARTER CORNER OF SAID SECTION 35, AS MONUMENTED BY A 3 1/4" ALUMINUM CAP "LS 7242"; THENCE S0°33'39"E ALONG THE EAST LINE OF THE SOUTH EAST QUARTER OF SECTION 35, A DISTANCE OF 1354.93' FEET TO A POINT LYING 1289.36 FEET NORTHERLY ALONG SAID EAST LINE FROM THE NORTHEAST CORNER OF SAID SECTION 2, AS MONUMENTED BY A 3 1/4" ALUMINUM CAP "LS 7242"; THENCE DEPARTING SAID LINE, ALONG THE NORTH LINE OF THE PARCEL OF LAND DESCRIBED IN RECEPTION NUMBER 4119522 RECORDED AT THE WELD COUNTY OFFICE OF THE CLERK AND RECORDER, THE FOLLOWING 4 COURSES; 1) THENCE 089°13'07"W, A DISTANCE OF 2152.95 FEET; 2) THENCE N85°18'43"W, A DISTANCE OF 590.70 FEET; 3) THENCE S82°17'00"W, A DISTANCE OF 558.27 FEET; 4) THENCE S89°11'44"W, A DISTANCE OF 616.08 FEET DEPARTING SAID LINE TO A POINT ON THE EAST LINE OF THE SOUTHWEST QUARTER OF THE SOUTHWEST QUARTER OF SAID SECTION 35; (CONTINUED ON PAGE 5) 9�w .1111,1.0 NO CHANGES ARE TO BE MADE TO THIS DRAWING WITHOUT WRITTEN PERMISSION OF SURVEY SYSTEMS INC. ISSUE DATE: 3/3/20 DATE REVISION COMMENTS EXHIBIT A SURVEY SYSTEMS P.O. Box 2188 - Evergreen, CO 80437 Tel: 303.679.0122 - Fax: 303,679.8123 A Service -Disabled Veteran -Owned Small Business SOVOSB SEE CHECKED BY: MN United Milliken Reservoir Enterprise, LLC Property Legal Description LEGAL DESCRIPTION OF THE PROPERTY TO BE INCLUDED INTO PLATTE RIVER METROPOLITAN DISTRICT A PART OF SECTIONS 23, 26, 34, AND 35, TOWNSHIP 4 NORTH, RANGE 67 WEST OF THE 6TH P.M., COUNTY OF WELD, STATE OF COLORADO (CONTINUED FROM PAGE 4) THENCE N00°50'02"W ALONG SAID EAST LINE, A DISTANCE OF 140.40 FEET TO THE NORTHEAST CORNER OF THE SOUTHWEST QUARTER OF SAID SOUTHWEST QUARTER OF SAID SECTION 35, AS MONUMENTED BY A 1 1/2" PLASTIC CAP "PLS 38026"; THENCE N89°21'55"W ALONG THE NORTH LINE OF SOUTHWEST QUARTER OF THE SOUTHWEST QUARTER OF SAID SECTION 35, A DISTANCE OF 1,304.48 FEET TO THE NORTHWEST CORNER OF SAID SOUTHWEST QUARTER OF THE SOUTHWEST QUARTER OF SAID SECTION 35, AS MONUMENTED BY A 1 1/2" ALUMINUM CAP "LS 17658"; THENCE N00°54'10"W ALONG THE WEST LINE OF THE NORTHWEST QUARTER OF THE SOUTHWEST QUARTER OF SAID SECTION 35 A DISTANCE OF 614.44 FEET TO A POINT ON THE NORTHEASTERLY LINE OF THAT PARCEL DESCRIBED AT RECEPTION NO. 2444383, AS RECORDED WITH THE CLERK AND RECORDER, COUNTY OF WELD, STATE OF COLORADO, AS MONUMENTED BY A 1 1/2" PLASTIC CAP "PLS 38026"; THENCE ALONG SAID NORTHEASTERLY LINE THE FOLLOWING 11 COURSES; 1) THENCE N86°51'43"W, A DISTANCE OF 105.15 FEET; 2) THENCE S76°54'17"W, A DISTANCE OF 44.75 FEET; 3) THENCE N70°02'40"W, A DISTANCE OF 109.47 FEET; 4) THENCE N67°16'18"W, A DISTANCE OF 303.13 FEET; 5) THENCE N48°02'22"W, A DISTANCE OF 125.58 FEET; 6) THENCE N00°51'32"W, A DISTANCE OF 46.60 FEET; 7) THENCE N65°20'52"W, A DISTANCE OF 251.73 FEET; 8) THENCE N61 °28'32"W, A DISTANCE OF 87.00 FEET; 9) THENCE N69°19'12"W, A DISTANCE OF 197.35 FEET; 10) THENCE N46°07'13"W, A DISTANCE OF 224.78 FEET; 11) THENCE N25°07'24"W, A DISTANCE OF 69.65 FEET TO THE SOUTHWEST CORNER OF THE SOUTHEAST QUARTER OF THE NORTHEAST QUARTER OF SAID SECTION 34, AS MONUMENTED BY A 1 1/2" PLASTIC CAP "LS 17658" THENCE N00°56'51"W ALONG THE WEST LINE OF THE SOUTHEAST QUARTER OF THE NORTHEAST QUARTER OF SAID SECTION 34 A DISTANCE OF 1,310.29 FEET TO THE NORTHWEST CORNER OF SAID SOUTHEAST QUARTER OF THE NORTHEAST QUARTER OF SAID SECTION 34; THENCE S89°01'58"E ALONG THE NORTH LINE OF THE SOUTHEAST QUARTER OF THE NORTHEAST QUARTER OF SAID SECTION 34, A DISTANCE OF 1,296.44 FEET TO THE NORTHEAST CORNER OF THE SOUTHEAST QUARTER OF THE NORTHEAST QUARTER OF SAID SECTION 34. AS MONUMENTED BY A 1 1/2" PLASTIC CAP "LS 17658"; THENCE N0°56'04"W ALONG THE WEST LINE OF THE NORTHWEST QUARTER OF THE NORTHWEST QUARTER OF SAID SECTION 35, A DISTANCE OF 1,308.95 FEET TO THE POINT OF BEGINNING; SAID PARCEL CONTAINS 40,897,262 SQUARE FEET, 938.87 ACRES MORE OR LESS BASIS OF BEARING STATEMENT: THE BASIS OF BEARINGS FOR THIS LEGAL DESCRIPTION IS BETWEEN THE FOUND MONUMENTS ON THE WEST LINE OF THE SOUTHWEST QUARTER OF SAID SECTION 26 THE BEARING OF SAID LINE IS N0°04'47"W. t NO CHANGES ARE TO BE MADE TO THIS DRAWING WITHOUT WRITTEN PERMISSION OF SURVEY SYSTEMS INC. ISSUE DATE: 3/3/20 DATE REVISION COMMENTS EXHIBIT A SURVEY )SYSTEMS A Professional Land Surveying Company P.O. Box 2168 - Evergreen, CO 80437 Tel: 303.679.6122 - Fax: 303.679.0123 A Sendce-Disabled Veteran -Owned Small Business SDVOSB SBE HECNB:Y. 0RAWByY: ,Eft JOB K: 2015-046-07-43 CLIENT CODE: UWGC2 United Milliken Reservoir Enterprise, LLC Property Legal Description LEGAL DESCRIPTION OF THE PROPERTY TO BE INCLUDED INTO PLATTE RIVER METROPOLITAN DISTRICT A PART OF SECTIONS 23, 26, 34, AND 35, TOWNSHIP 4 NORTH, RANGE 67 WEST OF THE 6TH P.M., COUNTY OF WELD, STATE OF COLORADO NORTHWEST CORNER SECTION 26 ;3' ALUMINUM CAP LS1'2:1 - RIGHT OF WAY OF THE FORMER UNION PACIFIC RAILWAY RECORDED AT RECEPTION N0. 2170560 CLERK AND RECORDER, COUNTY OF WELD, STATE OF COLORADO NO°04'47"E 929.26' 0=15°23'00" IL R=1809.86' L=485.93' CH=N42°32'21"E 484.4T WEST 1/0 000000 SECTION 26 2 1/2' ALUMINUM CAP 'KS 28656' N34°50'51 "E 666.20' 0=5°32'03" R=5829.20' L=563.04' CH=N37°35'06"E 562.82' SOUTHEASTERLY RIGHT OF WAY LINE OF THE FORMER UNION PACIFIC RAILWAY WEST DNE SW 1/4 OF SECTION 26 POINT OF BEGINNING SOUTHWEST CORNER SECTION 2fi FOUND WITNESS CORNERS WEST LINE NW I/O OF SECTION 35 NO°56'04"W 1308.95' MATCHLINE - SEE SHEET 7 /I EAST LINE SE 1/4 OF SECTION 23 NE CORNER SECTION 2fi 1/4' ALUMINU1M CAP 'PLS 6154' 0=13°42'00" R=5873.31 L=1404.38' CH=N43°22'51 "E 1401.03' PARCEL II A 40,897,262 SQUARE FEET 939 ACRES MORE OR LESS EAST 1/4 CORNER SEC110N 26 2" ALUMINUM CAP 'T'LS 12374' NORTHERLY 11NE OF THE WESTERN MUTUAL ORCH BOOK 118, PAGE 498 CLERK AND RECORDER COUNTY OF WELD STATE OF COLORADO S9°06'47"W 862.16' C2 rn 00 SEE SHEET 3 FOR LINE AND CURVE TABLES NOTE: THIS EXHIBIT DOES NOT REPRESENT A MONUMENTED LAND SURVEY. IT IS INTENDED TO DEPICT ONLY THE ATTACHED LEGAL DESCRIPTION. NO CHANGES ARE TO BE MADE TO THIS DRAWING WITHOUT WRITTEN PERMISSION OF SURVEY SYSTEMS INC. ISSUE DATE: 3/3120 DATE REVISION COMMENTS EXHIBIT A SURVEYsf.SYSTEMS P.O. Box 2168 - Evergreen, CO 80437 Tel: 303.679.8122 - Fax: 303.679.8123 Infe@Surve.slems.nel Small Business le VOSBcSB A Service -Disabled veteran ond Small euslness SDVOSB SBE NECKED MN United Milliken Reservoir Enterprise, LLC Property Legal Description LEGAL DESCRIPTION OF THE PROPERTY TO BE INCLUDED INTO PLATTE RIVER METROPOLITAN DISTRICT A PART OF SECTIONS 23, 26, 34, AND 35, TOWNSHIP 4 NORTH, RANGE 67 WEST OF THE 6TH P.M., COUNTY OF WELD, STATE OF COLORADC EAST UNE L29 L30/ NW CORNER E 1/4 NE 1/4 :C11/04N s a OF 3a FALLS M WATER WEST UNE SE 1/4 OF NE 1/4 L28"' 34 27 NE CORNER MATCHLINE - SEE SHEET SE 1/4 OF NE 1/4 SECTION 34 1 1/2" PLASTC CAP IS 17658' 4.' • /.' NORTH UNE ��' SE 1/4 OF NE 1/4 SECTION 34 C6 NE 1/4 OF 3 SECTION 35 PARCEL II A C7 40,897,262 SQUARE FEET L7 939 ACRES MORE OR LESS L8 C8 NORTH LINE C L9 SECTION 35 L10 11 SW CORNER SECTION 1 1/2" —"Ls nsse° L25 L23 26 L21 L24 L22 L20 34 NE 1/4 L18 PLASTIC CAP L19 1 /2' PLASTIC CAP NE CORNER 'PLS 38026" sw 1/4 OF !pigs SECTION 35 L17 WET LINE 1 1/2" PLASTIC NW 1/4 OF SE 1/4 "PLS 38026" SECTION 35 EAST UNE /L16 SW 1/4 aF SW 1/4 r SECTION 35 EAST 1/4 CORNER acZ 35 3 1/4" ALUMINUM CAP SW 1/4 "LS 7242' EAST LINE CAP S CTI0N 035 L12 g, gl ,,, am in M C .c``.�3 �C.` s l 4' J NW CORNER SW 1/4 OF SW 1/4 SECTION 35 1 1/2° ALUMINUM CAP 'LS 17658' L15 NORTH UNE SW 1/4 OF SW 1/4 SECT ON 35 L13 14 .� , S89°13'07"W 2152.95' ;,� S0°33'39"E 1289.36" " NSEC1: 2 3 1/4° ALUMINUM CAP "LS 7242' Line # Length Direction Line # Length Direction Curve # Length Radius Delta Chord Direction Chord Length L1 711.99 SO° 15'58"E L16 1304.48 N89° 21'55"W C1 702.60 455.00 88°28'31" S53° 21'02"W 634.85 L2 210.93 N62° 24' 42"W L17 614.44 NO° 54' 10"W C2 265.18 307.00 49°29'26" S15° 37' 56"E 257.01 L3 39.74 S40°22'39"E L18 105.15 N86° 51'43"W C3 233.55 260.00 51°28'03" S14° 38'38"E 225.78 L4 555.88 S11° 05'23"W L19 44.75 S76° 54'1TW C4 161.16 560.00 16°29'20" S19° 20'04"W 160.60 L5 300.25 S32° 35'00"E L20 109.47 N70° 02'40"W C5 525.01 500.00 60°09'44" S2° 3, 08, 501.23 L6 371.71 S57° 35' 48"E L21 303.13 N67° 16' 18"W C6 349.25 800.00 25°00'48" S45° 05, 25"E 346.49 L7 64.90 S5° 10'44"E L22 125.58 N48° 02'22"W C7 283.61 310,00 52°25'04" S31° 23'17"E 273.82 L8 102.29 SO° 33'43"E L23 46.60 NO° 51'32"W C8 132.49 260.00 29°11'45" S23° 52'35"W 131.06 L9 300.18 S38° 28'27"W L24 251.73 N65° 20'52"W C9 208.54 440.00 27°09'20" S24° 53'48"W 206.59 L10 21.13 S11° 19' 07"W L25 87.00 N61° 28' 32"W L11 336.43 S89° 31' 02'E L26 197.35 N69° 19' 12"W L12 590.70 585° 18'43'W L27 224.78 N46° 07' 13"W N GRAPHICAL SCALE L13 558.27 S82° 17' 00"W L28 69.65 N25° 07' 24"W 111=10001 L14 616.08 S89° 11'44"W L29 1310.29 No° 56' 51"W ///�� -loon' o lo00oo' z000' L15 140.40 NO° 50'02"W L30 1296.44 S89°41'58"E ilik l°�I113W-Im ""9e"MD u"'M.9\M"P 9m"IWYFlN °¢W,¢I flfAW NOTE: THIS EXHIBIT DOES NOT REPRESENT A MONUMENTED LAND SURVEY. IT IS INTENDED TO DEPICT ONLY THE ATTACHED LEGAL DESCRIPTION. tAi°JF. 2 B 3tm9i NO CHANGES ARE TO BE MADE TO THIS DRAWING WITHOUT WRITTEN PERMISSION OF SURVEY SYSTEMS INC. ISSUE DATE DATE: 3/3/20 REVISION COMMENTS EXHIBIT A SURVEYI)SYSTEMS A Professional Land Surveying Company P,O, Box 2168 - Evergreen, CO 80437 Tel: 303.679,8122 - Fax: 303.679.8123 Int°QSurveySystems,nel vmw,SurveyBystamslnacom A SeMce-OIsa6led Ve' Wned Small Business SOVOSe I SBE V: MN ORAWN BCHECKED Y: JER JOB it. 201,0.1-123 CLIENT CODE,UWGC2 VET. CAW Equities, LLC Property Legal Description A parcel of land described as all of Parcel A (described below) excepting therefrom all of Parcel B (described below), containing a net total of 44.516 acres, more or less. CAW Equities, LLC Property Legal Description PARCEL A • PROPERTY DESPRIPTION Parcel#3 A parcel ofland being part of the West }pelf (Wl/3ygf Section Twenty-seven (27), Township Five North- (T.5N:), Range Sixty-three West (L63W.) of the Sixth Principal Meridian (6th P.M.), County of Weld, State of Colorado and being more particularly described as follows: BEGINNING at the NortheasrCorner of Seed= Thirty-four (34) and assuming the East line of t1te.Northeast Quarter (NE1/4) of said Section 34 as bearing South 00'4'1'19" East, being a Grid Bearing; of the Colorado State Plane .Coordinate Systeib, North Zone, North:A.nteeicao Datum 198302, .a distance of 2616.43 feet with all other bearings contained herein relative thereto: THENCE South 84'47'13" West along the North line of said Section 34, also beingthe South line of said Section 27, a distance of 3922,42 feet to the West Sixteenth. Comer common to Sections 27/34-T.5FN: R63W.; THENCE North 00'40'09" But along the`East of the Southwest Quarter of the Southwest Quarter (SW 1/4 S W 1/4) of said Section. 27'a distance of 590.95 feet to the TRUE POINT OF BEGINNING: THENCE continuing North 00'40'09" East along said East line a distance of 725.06 feet to the Dlortlieiat Corner of said SW1/4 SWI/4; THENCE South 89'0.2'21" West along the North line of said SW 1/4 SW 1/4 a distance of 984.44 feet to.a point Three Hundred feet (300') Easterly of as measured at right angles to the West line of said. Section 27; Thence along a line Three Hundred feet (300') Easterly of as treasured at right angles to and parallel with the West line of said Section 27 by the following Two (2) courses and distances: THENCE North 01'11'42!' Bast a distance of 1313.44 feet; THENCE' North 00°56'18" West a distance of.1778.23 feet; THENCE South 58:'47'25" East a distance of 1411.62. feet; THENCE South 00'4907"Bast a distance of 3230:87 feet; THENCE North 59'31'38" West a distance of 320.14 feet to the TRIPE POINT OF BEGINNING. Said described parcel. cif land contains 80.016 Antra, more or less (t) and is subject to any rights - of -way or other easements as granted or reserved by instntrntnts of record or as now existing on said described parcel of land. SURVEYOR°S STATEMENT I, Charles R. Jones, a Colorado Registered Professional Land Surveyor do hereby state that this Property Descriptionwas prepared under my personal supervision and checking, and that it is true and correct to the best of my knowledge, information, belief, and in my professional opinion. MC SURVEYORS, INC. 9299Eastman Paris Drive Windsor; Colorado 80550 (970) 686-S011 Project Nummber: 2003461A (File: L720034611parcebt3-aI.wpd) (January 24, 2005) LAND SURVEY PLAT Part of Sections 21, 22, 27 & 34, All. Township 5 North, Range 63 West Of The 6th P.M., County Of Weld, State Of Colorado 5,10'53'297E 36 563'20 N00'41'I9'W 2483.72' oorefi'1e' 1778.23' 500'41'19, PARCEL P3 N0i'11'42'E 3228.38 N00'53'29'W 435.76' �— 500'56'18'E 00'56'16' 26 PAFCEI �4 cum[rz� 501} N01'11'42, 1319.15' 00'40'09'E x 725.08' 4,7 xs,aucnws r xa is uova�c LEGEND 47, 4 CAW Equities, LLC Property Legal Description PARCEL B Legal Description of the Property to be Excluded front Parcel A S.EGAI DESCRIPTION A PARCEL O` LAWS BEING A PORTION OF ?ARCEL 43 AS DESCRIBED A THE DOCUMENT RECORDED APRIL 29, 21105 AT RECEPTION 40.33261644111 THE RECORDS OF THE WELD COUNTY CLERK AND RECORDERS OFFICE, SITUATED IN THE WEST tiALF OF SECTION 27, TOWNSHIP 5 NORTH, RANGE 53 WEST OF THE SIXTH PRINCIPAL MERIDIAN. COUNTY OF WELTS, STATE OF COLORADO BEING MORE PARTICULARLY DESCRIBED AS FO`_LOWS: REGINNING AT THE SOUTHWEST- SIXTEENTH CORNER OF SAID SECTION 27: THENCE SOUTH 89T7'32" HEST. ALONG 5er NORTH LIIE OF TI i E SOUTI I W0ST QUARTER OF THE SOUTI MEST QUARTER OF SAID SECTION 27, A DISTANCE OF 865-22 .FEET TO A POINT 300 FEET EAST OF THE WEST UTTE OF THE SOUTHWEST QUARTER OF SAID SECTION 27: TGEiCE NORTH 01=T 1'44" EAST. 300 FEET EAST OF AND PARALLEL TO SAID WEST LINE O: THE SOUTHWEST OUARTER OF SECTION 27, A DISTANCE OF 1.314,35 FEET TO A POINT 300 FFET FAST OF THE. WEST QUARTER CORNER OF SAID SECTION 27: !HENCE NORTH 06.5G'21" WEST, 300 FEET EAST OF AND PAR.A"LI.EL TO THE WEST LIME OF THE NORTHWEST QUARTER OF SAID SECTION 27, A DISTANCE OF 839.2A FEET TO A t UIT4- ON THE NORTH LINE Of THE RVERSIDE ChTTAL: rHENCE ALONG SAID NORTH LINE OF -NE RIVERSIDE CANAL THE FOLLOWING FIVE I5) COURSES: 1. SOUTH 37`4^137' EAST A DISTANCE OF 2:57.38 FEET; 2. SOLI I H 33-45523` EAST A DISTANCE. OF '287.73 FEET; 3. SOUTH 32'4272' EAST A DISTANCE OF 446.30 FEET, 4• SOUTH SS'46'49' EASTA DISTANCE OF. 417,85 FEET, 5. SOUTH 32'507" EAST DISTANCE OF 261.26 FEET; TI4ET4CE NORTH 89.0733" EAST, DEPARTING SAID NORTH LINE OF THE RIVERSIDE CANAL, A GHTAT4CE Of 269.39 FEET: i4ENCC SOUTH00'43'55' EAS1 A DISTANCE OF 1,419. T5 FEET; THr4c NOR4I59'26'2+3''WEST A DISTANCE OF?20.T4 F=ET; • HENCE NORTH C°45'20" EAST A DiSTANCE OF 725.05 FEET TO THE 'TINTOF BEGINNING. CONTAINING 1,846,411 SOIJARE FEET OR 35.50 ACRES, MORE OR LESS, FOR THE PURPOSE OF THIS DESCRIPTION THE BEARINGS ARE BASED ON THE EAST LINE OF THE NORTHEAST QUARTER OF SECTION 27, TOWNSHIP 5 NORTH, RANGE Ai MST OF THE 6TH PRINCIPAL MERIDIAN AS MONOMEATED BY A 3.5' ALUMINUM CAP STAMPED LS 72A2 ON THE NORTH AND ON THE SOUTH, SAID LINE HEARS SO711 H 0"03'34' WEST. GERALD MATT NICHOLS. PLS PLS #38026 FOR AND ON BEHALF OF: SURVEY SYSTEMS INC. P.O. BOX 2168 EVERGREEN. COLORADO 56437 43143)670-9122 ro rwr w• a��ru EXHIBIT g A 35.5 ACRE TRACT SURVEY (V, SYSTEMS AnNdt JA Utlk7 Sr A.U9C :12,4 ax•, ♦Wr;1'! • h`Yn.�'.P'C<ci i. ti'S'ib�i7 • FA.014, ≥� CAW Equities, LLC Property Legal Description PARCEL B (con't) 4397482 05109020/8 09.15 AM Page 5 of 5 rr C051•scr. X T, rtemterice i5'sA[,:"yttf I NI ..i S,+ arr 63,24. S93'45 -23T r e6T_7+' 1 PARCEL r:3 RLC x3181844 F37^477I L —707.@5' Vi..23. 7,6,4 ;nTk_ . 3..som I \ N$5`2S ,, ��(i?i$c� :' ,Air' ' 310.1:'-,...,......,,,t4,,,, SECTION 27 TOWNSHIP 5 NORTH �gf RANGE 63 WEST GRAD' 1ICAI SCALE +F 3a[M1FA.A�4�M.l4�YhFYtY� YP . —E4191a eo1N? Clr` 6Ealaa , 8W*:16C0.S c3% 51 GKNI@!T t A SURVEYL SYSTEMS .lati}a.�Jl•1 YL S..rMiyCN OV) 2 Ron VonLembke Childrens Trust Property Legal Description A parcel of land described as all of Parcel A (described below) excepting therefrom all of Parcel B (described below), containing a net total of 33.48 acres, more or less. Ron VonLembke Childrens Trust Property Legal Description PARCEL A I.EGAI DESCRIPTION A PARCEL OF LAW BEING A PORTION OF PARCEL 43 PS DESCRIBED PI THE DOCUMENT RECORDED APRIL 2.9, 241;5 AT RECEPTION NO. 3281844 IN THE RECORDS OF THE WELD COUNTY CLERK AND RECORDERS OFFICE, SITUATED IN THE WEST HALF OF SECTION 27, TO'WNSI•IIP 5 NORTH; RANGE 63 WEST OF THE SIXTH PRINCIPAL MEMOIR( COUNTY OF WELD, STATE OF COLORADO BEING MORE PARTICULARLY DESCRIBED AS FOLLOWS: BEGINNING AT THE SOUTHWEST SIXTEENTH CORNER OF SAID SECTION 27; THENCE SOUTH E5 O7:T3° WEST, ALONG THE NERTIt LINE OF THE SOUTHWEST CHARTER OF THE SOUTHWEST QUARTER OF SAID SECTION 27, A DISTANCE OF 995.22 L EET TTT A POINT 300 FEET EAST OF THE WEST LINE OF THE SOUTHWEST QUARTER OF SAID SECTION 21: THENCE : 171101'T i'41' EAST, 300 FEET EAST OFF AND PARALLEL TO SAID WEST LINE OF THE SOUTHWEST QUARTER OF SECTION 27, A DISTANCE OF 1.314.36 FEET TO A POINT SSI EFET FAST OF THE WEST QUARTER CORNER OF SAID SECTION 27_ I HE HCEE NORTH 00.5821. WEST, 3Ci) FEET EAST OF AND PARALLEL TO THE WEST LINE OF THE NORTHWEST QUARTER OF SAID SECTION 27, A DISTANCE OF 839.24 FEET TO A POINT ON THE NORTH LINE OF THE RIVERSIDE CANAL; THENCE A€ ONO SAID NORTH i.JNF OF THE RIVERSIDE CANAL THE FOLLOWING FIITE (5)COURSES: 1. SOUTH 37`01'37' EAST A DISTANCE OF 267.38 FEET; 2. SOUTH 33'4523` EAST DISTANCE OF 287.73 FEET: 3. SOUTH 32.'4272' EAST DISTANCi' OF 445.30 FEET: 4. SOUTH 3X48.09. EAST A DISTANCE OF 417.85 FEET, 5. STOJTH 32'53'27 EASTA DISTANCE OE 281,28 FEET; THENCE NORTH R9°©7'33" EAST, DEPARTING SAID NORTH LINE OF THE RIVERSIDE CANAL, A DISTANCE OF 26S_38 FEET THENCE: SOUTI I Slt°4T55" EASI A DISTANCE OF 1,419.15 FEET; 'HENCE' NORTI 15S°26'24' WEST A DISTANCE OF 3'20.14 FOES; HENCE NORTH 01.4526" EAST A DISTANCE OF 72596 FEET T O THE POINT OF BEGINNINGG, CONTAINING 1,545411 SQUARE FEET OR 35.50 ACRES, MORE OR LESS. FOR THE PURPOSE OF THIS DESCRIPTION THE BEARINGS ARE BASED ON THE EAST LINE OF THE NORTHEAST QUARTER OF SECTION 27, TOWNSHIP 5 NORTH, RANGE 63 0555T OF THE 6TH PRINCIPAL MERIDIAN AS MONIJMEIdTEE BY A 3.5' ALUMINUM CAP STAMPED LS 7242 ON THE NORTH AND ON THE SOUTH. SAID LINE BEARS SCUT0°03'31° WEST. 36-026 08116,0 I(7 GERALD MATT NICHOLS. PLO PLS #38626 FOR AND ON BEHALF OF: SURVEY SYSTEMS INC. P.O. BOX 2168 EVERGREEN, COLORADO 80437 5303)675-8122 71,3=7.1.""-- ,�.!d..a 1,, EXHIBIT Q A 35.5 ACRE TRACT 'W:4Y; :J4 7�Yr:lG, A �FlY.s•NYYa A;Jl7I Nn,YY�W➢a,v;a�a `.4 h?MSy51 :N:'.r:. SURVEY('; SYSTEMS a,teasi5r.M Umt 9� rp1� h: roKy • F;Y,{N4�d�!K•:,"a ?� 7•',!S?I2'i} . FtcJ635.i1�Y3 ��..',,��Ij�l�! i'-.`.°,�iV-'•Ff3NPI`-t�Fi cM.':A/ni9J•i'/'47`' iH,A/ �Festi.Jsr H'K E!aYLr+A5rMatii PiNW,p rib,S ,L,..1*r) 4E+tx0t�':sFU •L •s 1 Ron VonLembke Childrens Trust Property Legal Description PARCEL A (cont.) • '4i SsY.�'�n'SfG7z _ 76:7. Rem f.TY..W,4 \\ S37.01.37'E 267.38' . II NO"5G'21'1FV\, \ 639.24' S33.4573•E l 257.77 PARCEL 03 REC 03261844 360' g �. 85°07'33"4'! 985.22' SW 14 SW1A7 SEC n NO 4525 Ear 725.06' i i4Z� 5212"3' 732.42'22.E 033'45 TE 417.899' S32.5527.E - 3,84.25 x69°07 33,C rrr G�4SEG. UV V7;n•AMAG4P S;R71S 7242 SECTION 27 TOWNSHIP 5 NORTH s IT RANGE 63 WEST '-4479.t� P54CC OF EEOINNJNG SW1:laCORSEC27 • —37VkA'S': SSCJF7 " 45592726"9 �e 4""y, 320.14' TSe. vP1h:6�77RP_I_ . GRAPHICAL SCALE 3'"=800' Wt, ROVE ail PM MO: firAWM CAP WIRED �t<tfR5c' 45.10: CTi e` arff Ep°�.Siw M. aaz SURVEY`! SYSTEMS Ron VonLembke Childrens Trust Property Legal Description PARCEL B Legal Description of Property to be Excluded from Parcel A COMMENCING AT THE SOUTHWEST SIXTEENTH CORNER OF SAID SECTION 27; THENCE NORTH 31°10'06" EAST A DISTANCE OF 259.60 FEET TO A POINT ON THE SOUTH LINE OF THE RIVERSIDE CANAL AND THE POINT OF BEGINNING; THENCE SOUTH 56°06'53" WEST, DEPARTING SAID SOUTH LINE OF THE RIVERSIDE CANAL, A DISTANCE OF 200.10 FEET; THENCE NORTH 54°42`15" WEST A DISTANCE OF 167.57 FEET; THENCE NORTH 31°40'33" WEST A DISTANCE OF 213.63 FEET; THENCE NORTH 57°09'33" EAST A DISTANCE OF 242.28 FEET TO A POINT ON THE SOUTH LINE OF SAID RIVERSIDE CANAL; THENCE SOUTH 32"50'27° EAST, ALONG SAID SOUTH LINE OF THE RIVERSIDE CANAL, A DISTANCE OF 40.12 FEET; THENCE SOUTH 35°37'43" EAST, CONTINUING ALONG SAID SOUTH LINE OF THE RIVERSIDE CANAL, A DISTANCE OF 325.72 FEET TO THE POINT OF BEGINNING. CONTAINING 87,984 SQUARE FEET OR 2.02 ACRES, MORE OR LESS. Ron VonLembke Childrens Trust Property Legal Description PARCEL B (cont.) I 8 B 300' 2O S89°07'33"W 985.22' SW 1/4 SW v4 SEC 27 N00°45'20"E 725-06' 200' WITNESS COR SW COR SEC 27, 75N, R63W, 6711 PM 5697070W 2604,16' N59°26'26"W 320.14' 589 58V5E 521,0X ark POINT OF COMMENCEMENT SIN 1/1 o EXCEPTION PARCEL DETAIL SCALE 1" =200' 200.10' POINT CF BEGINNIN SECTION 27 TOWNSHIP 5 NORTH PARCELION RANGE 63 WEST N SEE DETAIL PONT OF BEGINNING SW 1/16 COR SEC 27 J('''' 51/4 COR SEC 27. 75N, R63W, 6TH PM GRAPHICAL SCALE 1".800' -800' 0' 800 1600' moo � xwM IWWeW ««.. N69°4772E 261496" NO CHAWESARE TO 3E MME T0NSIWAWFG WITWAH WROTE, PERM.. OF SURYEM SYSTEME RC C0WEMIS EXHIBIT A SOUTH BEEBE METRO DISTRICT PARCEL SURVEY (*SYSTEMS A Prohnsional Land Soma. Company PA, boa 2168 - Eae19reen, COMM Tel:3015793122 - Fax: 3036799127 Mf00S�m'Hsr%�Ynel wWrSmeY9ystemsic.oam (1) A 5.1.0ma6mtl VebanAaae5maE= MS, Ulf WENT COOEIM5RIO Writ 2 Andrew Damiano Legal Description COMMENCING AT A POINT, SAID POINT BEING THE EAST QUARTER SECTION OF SECTION 15 TOWNSHIP 1 NORTH RANGE 66W OF THE 6TH PM, AS MONUMENTED BY A 2 'h" ALUMINUM CAP AND STAMPED LS 19585, THENCE S89°34'00"W, A DISTANCE OF 30 FEET TO THE POINT OF TRUE BEGINNING THENCE S0°01'34"W, A DISTANCE OF 637.70 FEET, ALONG THE EAST LINE OF SAID SECTION 15 TO A POINT DEPARTING SAID EAST LINE AT THE SOUTH PROPERTY LINE, THENCE N90°00'00"W, A DISTANCE OF 3,890.24 FEET ALONG THE SOUTH PROPERTY LINE TO THE CENTER LINE OF THE BRIGHTON LATERAL DITCH, DEPARTING SAID SOUTH LINE AND FOLLOWING THE CENTER OF THE BRIGHTON LATERAL DITCH ALONG THE FOLLOW 9 COURSES: THENCE N09°31'55"E, A DISTANCE OF 68.79 FEET; THENCE N19°46' 15"E, A DISTANCE OF 52.31 FEET; THENCE N31 °05'50"E, A DISTANCE OF 131.85 FEET; THENCE N24°30'40"E, A DISTANCE OF 57.97 FEET; THENCE N18°19'58"E, A DISTANCE OF 63.63 FEET; THENCE N15°28'41"E, A DISTANCE OF 119.40 FEET; THENCE N16°59' 14"E, A DISTANCE OF 65.96 FEET; THENCE NI7°14'57"E, A DISTANCE OF 91.71 FEET; THENCE N42°49'49"W, A DISTANCE OF 1.35 FEET; TO A POINT ON THE QUARTER SECTION LINE OF SAID SECTION 15, THAT POINT ALSO THE NORTHWEST CORNER OF THE PARCEL DEPARTING THE CENTER OF THE BRIGHTON LATERAL DITCH AND FOLLOWING QUARTER SECTION LINE OF SAID SECTION 15 THENCE ALONG THE NORTH BOUNDARY OF SAID PARCEL N89°33'40"E, A DISTANCE OF 1,049.11 FEET; THENCE N89°34'00"E, A DISTANCE OF 2,622.87 FEET TO THE POINT OF BEGINNING CONTAINING 2,353,703 SQUARE FEET OR 54.03 ACRES, MORE OR LESS. EXHIBIT B BUDGET RESOLUTION (2023) CERTIFIED COPY OF RESOLUTION STATE OF COLORADO COUNTY OF WELD ss. At the regular meeting of the Board of Directors of Platte River Metropolitan District, County of Weld, Colorado, held at 11:30 AM on Tuesday, November 22, 2022, at 8390 E Crescent Parkway, Suite 300, Greenwood Village, CO 80111, by videoconference at https://us06web.zoom.us/j/83989598417, and by teleconference at +1 669 900 6833, Meeting ID: 839 8959 8417, there were present: Robert A. Lembke Andrew Damiano Ronald E. von Lembke Joshua Shipman Jason VonLembke Also present was Michael Davis. Marisa Davis and Hilary Adams of the Law Office of Michael E. Davis, LLC ("District Counsel"); Debbie Genella, Front Range Metropolitan Maintenance & Administration; Kevin Collins; and Jason Carroll and Misty Raup, CliftonLarsonAllen, LLP. District Counsel reported that, prior to the meeting, legal counsel had notified each of the directors of the date, time and place of this meeting and the purpose for which it was called. District Counsel further reported that this is a regular meeting of the Board of Directors of the District and that a notice of the meeting was posted on the District's public website or at a public place within the boundaries of the District pursuant to applicable statutes and at the Weld County Clerk and Recorder's Office, and to the best of their knowledge, remains posted to the date of this meeting. Thereupon, Director R von Lembke introduced and moved the adoption of the following Resolution: RESOLUTION A RESOLUTION SUMMARIZING EXPENDITURES AND REVENUES FOR EACH FUND, ADOPTING A BUDGET, LEVYING GENERAL PROPERTY TAXES FOR THE YEAR TO HELP DEFRAY THE COSTS OF THE GOVERNMENT, AND APPROPRIATING SUMS OF MONEY TO THE VARIOUS FUNDS IN THE AMOUNTS AND FOR THE PURPOSES SET FORTH HEREIN FOR THE PLATTE RIVER METROPOLITAN DISTRICT, WELD COUNTY, COLORADO, FOR THE CALENDAR YEAR BEGINNING ON THE FIRST DAY OF JANUARY, 2023 AND ENDING ON THE LAST DAY OF DECEMBER, 2023. WHEREAS, the Board of Directors (the "Board") of the Platte River Metropolitan District (the "District") has authorized its consultants, treasurer and legal counsel to prepare and submit a proposed budget to said governing body no later than October 15, 2022; and WHEREAS, the proposed 2023 budget has been submitted to the Board for its consideration; and WHEREAS, upon due and proper notice, posted in accordance with Colorado law and published on Friday, October 28, 2022 in the Greeley Tribune, said proposed budget was open for inspection by the public at a designated place, a public hearing was held at 11:30 AM on Tuesday, November 22, 2022, and interested electors were given the opportunity to file or register any objections to said proposed budget; and WHEREAS, the budget being adopted by the Board has been prepared based on the best information available to the Board regarding the effects of Article X, Section 20 of the Colorado Constitution; and WHEREAS, whatever increases may have been made in the expenditures, like increases were added to the revenues so that the budget remains in balance, as required by law. NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF DIRECTORS OF THE PLATTE RIVER METROPOLITAN DISTRICT, WELD COUNTY, COLORADO, AS FOLLOWS: Section 1. Summary of 2023 Revenues and 2023 Expenditures. That the estimated revenues and expenditures for each fund for fiscal year 2023, as more specifically set forth in the budget attached hereto, are accepted and approved. Section 2. Adoption of Budget. That the budget as submitted, or as amended, and attached hereto and incorporated herein is approved and adopted as the budget of the District for fiscal year 2023. Section 3. 2023 Levy of General Property Taxes. That the foregoing budget indicates that the amount of money from property tax revenue necessary to balance the budget for the General Fund for operating expenses is $12,367,668.58, and that the 2022 valuation for assessment, as certified by the Weld County Assessor, is $188,949,180. That for the purposes of meeting all general operating expenses of the District during the 2023 budget year, there is hereby levied a tax of 65.455 mills upon each dollar of the total valuation of assessment of all taxable property within the District during the year 2022. Section 4. 2023 Levy of Debt Retirement Expenses. That the foregoing budget indicates that the amount of money from property tax revenue necessary to balance the budget for the Debt Service Fund for debt retirement expense is $0 and that the 2022 valuation for assessment, as certified by the Weld County Assessor, is $188,949,180. That for the purposes of meeting all debt retirement expenses of the District during the 2023 budget year, there is hereby levied a tax of 0.000 mills upon each dollar of the total valuation of assessment of all taxable property within the District during the year 2022. Section 5. Certification to Board of County Commissioners. That the attorney, accountant or manager for the District is hereby authorized and directed to certify to the Weld County Board of County Commissioners, no later than December 15, 2022, the mill levies for the District hereinabove determined and set. That said certification shall be substantially in the same form as attached hereto and incorporated herein by this reference. Section 6. Appropriations. That the amounts set forth as expenditures and balances remaining, as specifically allocated in the budget attached hereto, are hereby appropriated from the revenue of each fund, to each fund, for the purposes stated and no other. Section 7. Budget Certification. That the budget shall be certified by the Secretary/Treasurer of the District, and made a part of the public records of the District. The foregoing Resolution was seconded by Director Damiano. RESOLUTION APPROVED AND ADOPTED ON NOVEMBER 22, 2022. PLA 1-i'h RIVER METROPOLITAN DISTRICT By: AI MST: Robert A Lemb e, Pr D ident Ronald E. von Lembke, Secretary/Treasurer APPROVED AS TO FORM: LAW OFFICE OF MICHAEL E. DAVIS, LLC As General Counsel to the District STATE OF COLORADO COUNTY OF WELD PLATTE RIVER METROPOLITAN DISTRICT I, Ronald E. von Lembke, hereby certify that I am a director and the duly elected and qualified Secretary/Treasurer of Platte River Metropolitan District (the "District"), and that the foregoing constitutes a true and correct copy of the record of proceedings of the Board of Directors of said District adopted at a meeting of the Board of Directors of the District held at 11:30 AM on Tuesday, November 22, 2022, at 8390 E Crescent Parkway, Suite 300, Greenwood Village, CO 80111, by videoconference at https://us06web.zoom.us/j/83989598417, and by teleconference at +1 669 900 6833, Meeting ID: 839 8959 8417, as recorded in the official record of the proceedings of the District, insofar as said proceedings relate to the budget hearing for fiscal year 2023; that said proceedings were duly had and taken; that the meeting was duly held; and that the persons were present at the meeting as therein shown. IN WITNESS WHEREOF, I have hereunto subscribed my name on November 22, 2022. Ronald E. von Lembke, Secretary/Treasurer EXHIBIT A 2023 BUDGET DOCUMENT & BUDGET MESSAGE FOR PLATTE RIVER METROPOLITAN DISTRICT PLATTE RIVER METRO DISTRICT ANNUAL BUDGET FOR THE YEAR ENDING DECEMBER 31, 2023 PLATTE RIVER METRO DISTRICT PROPERTY TAX SUMMARY INFORMATION 2023 BUDGET WITH 2021 ACTUAL AND 2022 ESTIMATED For the Years Ended and Ending December 31, ASSESSED VALUATION Residential Commercial Industrial Agricultural Minerals Oil & Gas State Assessed Personal Property Certified Assessed Value MILL LEVY General ACTUAL 2021 ESTIMATED 2022 BUDGET 2023 $ 93,956,320 $ 137,862,010 $ 7,930 283,620 3,282,780 423,500 209,990 183,951,260 22,580 767,520 $ 93,956,320 $ 137,862,010 $ 188,949,180 65.455 65.455 65.455 Total mill levy 65.455 65.455 65.455 PROPERTY TAXES General Levied property taxes Adjustments to actual/rounding $ 6,149,911 $ 9,023,758 $ 12,367,669 6,149, 911 9,023,758 12, 367, 669 (162,408) 3 - Budgeted property taxes $ 5,987,503 $ 9,023,761 $ 12,367,669 BUDGETED PROPERTY TAXES General $ 5,987,503 $ 9,023,761 $ 12,367,669 No assurance provided. See summary of significant assumptions. 1 PLATTE RIVER METRO DISTRICT GENERAL FUND 2023 BUDGET WITH 2021 ACTUAL AND 2022 ESTIMATED For the Years Ended and Ending December 31, ACTUAL 2021 ESTIMATED 2022 BUDGET 2023 BEGINNING FUND BALANCE $ 34,700 $ 183,999 $ 2,139,192 REVENUES Property taxes Specific ownership tax Interest income Bond Proceeds - Series 2022 Loan Revenue IGA Revenue - SBDMD Other revenue Total revenues 5,987,503 9,023,761 12,367,669 309,023 422,960 742,060 2,347 4,500 6,000 42,000,000 40,000,000 - 35 1,150,000 320 6,298,873 91,451,256 14,266,049 Total funds available 6,333,573 91,635,255 16,405,241 EXPENDITURES General and administrative Accounting Auditing Consulting County Treasurer's fee District management Directors' fees Dues and licenses Insurance and bonds Delinquent taxes, rebate abatements & other Repay Developer Advance Legal services Miscellaneous Utilities Support services Lawsuit Settlement Bond Interest - Series 2022 Bond Principal - Series 2022 Capital Outlays IGA - FRIA IGA - WAWDA Total expenditures 26,241 25,000 35,000 8,500 8,500 55,000 35,000 94,685 135,358 185,515 1,578 50,000 55,000 3,000 3,000 3,000 2,000 2,000 58,550 57,441 155,036 100,000 110,000 50 138 2,500 39,034 40,000 40,000 42,000,000 - 1,465,756 2,913,164 2,447,408 5,830,000 1,000,000 550,000 43,050,000 10, 000, 000 6,149,574 89,496,063 14,941,817 Total expenditures and transfers out requiring appropriation 6,149,574 89,496,063 14,941,817 ENDING FUND BALANCE $ 183,999 $ 2,139,192 $ 1,463,423 EMERGENCY RESERVE AVAILABLE FOR OPERATIONS TOTAL RESERVE $ 189,000 $ 283,600 $ 428,000 (5,001) 1,855,592 1,035,423 $ 183,999 $ 2,139,192 $ 1,463,423 No assurance provided. See summary of significant assumptions. 2 PLATTE RIVER METRO DISTRICT 2023 BUDGET SUMMARY OF SIGNIFICANT ASSUMPTIONS Services Provided The District was organized to provide the public improvements within and without the boundaries of the District as such power and authority are described in the Special District Act, and other applicable statutes, common law and the State Constitution, subject to the limitations set forth in the District's Service Plan. The District's boundaries are located in Weld County, Colorado. The District has no employees and all administrative functions are contracted. The District prepares its budget on the modified accrual basis of accounting in accordance with the requirements of Colorado Revised Statutes C.R.S. 29-1-105 using its best estimates as of the date of the budget hearing. These estimates are based on expected conditions and its expected course of actions. The assumptions disclosed herein are those that the District believes are significant to the budget. There will usually be differences between the budget and actual results, because events and circumstances frequently do not occur as expected, and those differences may be material. Revenues Property Taxes Property taxes are levied by the District's Board of Directors. The levy is based on assessed valuations determined by the County Assessor generally as of January 1 of each year. The levy is normally set by December 15 by certification to the County Commissioners to put the tax lien on the individual properties as of January 1 of the following year. The County Treasurer collects the determined taxes during the ensuing calendar year. The taxes are payable by April or, if in equal installments, at the taxpayer's election, in February and June. Delinquent taxpayers are notified in August and generally sales of the tax liens on delinquent properties are held in November or December. The County Treasurer remits the taxes collected monthly to the District. The total mills levied are as displayed on page 2. Specific Ownership Taxes Specific ownership taxes are set by the State and collected by the County Treasurer, primarily on vehicle licensing within the County as a whole. The specific ownership taxes are allocated by the County Treasurer to all taxing entities within the County. The forecast assumes that the District's share will be equal to approximately 6% of the property taxes collected by the District. The budget assumes that all of the specific ownership taxes will be pledged to debt service on the bonds during the term the bonds are outstanding. Expenditures Administrative and Operating Expenditures Administrative and operating expenditures have been provided based on estimates of the District's Board of Directors and consultants and include the services necessary to maintain the District's administrative viability such as legal, accounting, management, insurance, meeting expense, and other administrative expenses. Estimated expenditures related to detention pond maintenance are also included in the General Fund budget. 3 PLATTE RIVER METRO DISTRICT 2023 BUDGET SUMMARY OF SIGNIFICANT ASSUMPTIONS Expenditures (continued) County Treasurer's Fees County Treasurer's fees have been computed at 1.5% of property tax collections. Intergovernmental Expenditures The District has budgeted payments in 2023 for the purpose of funding services performed by Authorities of which the District is a member in the State of Colorado. Debt Service Bond payments for 2023 are not provided, as the exact timing and amount of payments is unknown. More information will be found under Debt and Leases. Debt and Leases The Series 2022 Bonds will consist of two fully registered Bonds without coupons in the aggregate principal amount of $42,000,000. Bond R-1 will be issued to Civitas and Bond R-2 will be issued to Chevron. Any additional Series 2022 Bonds shall be numbered separately from 3 upward, with the number of each Series 2022 Bond preceded by "R-.". The Series 2022 Bonds shall be dated as of the date of issuance, and shall bear interest at the rate of 3.75% per annum, calculated on the basis of a 360 -day year of twelve 30 -day months. The Series 2022 Bonds shall mature on October 15, 2041. The principal of, and interest on, the Series 2022 Bonds is payable in lawful money of the United States of America on October 15 of each year, beginning on October 15, 2022, to the Owners of the Series 2022 Bonds until the Maturity Date. For the sake of clarity, PRMD shall pay annually to the Bond Holders of the Series 2022 Bonds, on October 15 of each year, all Pledged Revenues then deposited in the segregated funds which shall be paid as principal and interest on the Series 2022 Bonds. Pledged revenue is limited to 30% of the property taxes paid by Civitas and Chevron, to the District and South Beebe Draw Metropolitan District. There is no debt schedule for the Series 2022 bonds provided. The Series 2022 Bonds are cash flow bonds without a set amortization schedule. The District has no operating or capital leases. The District anticipates closing on a loan before the end of 2022. The actual terms and provisions of the loan are to be determined prior to closing. Reserves Emergency Reserve The District has provided for an Emergency Reserve fund equal to at least 3% of fiscal year spending, as defined under TABOR. This information is an integral part of the accompanying budget. 4 1675 County Tax Entity Code DOLA LGID/SID 67241/1 CERTIFICATION OF TAX LEVIES for NON -SCHOOL Governments TO: County Commissioners' of On behalf of the the of the WELD COUNTY , Colorado. PLATTE RIVER METRO DISTRICT A (taxing entity) Board of Directors (governing body)° PLATTE RIVER METRO DISTRICT Hereby officially certifies the following mills to be levied against the taxing entity's GROSS $ assessed valuation of: (GROSS° assessed valuation, Line 2 of the Certification of Valuation Form DLG 57E) Note: If the assessor certified a NET assessed valuation (AV) different than the GROSS AV due to a Tax Increment Financing (TIF) Area" the tax levies must be $ calculated using the NET AV. The taxing entity's total (NET' assessed valuation, Line 4 of the Certification of Valuation Form DLG 57) property tax revenue will be derived from the mill levy USE VALUE FROM FINAL CERTIFICATION OF VALUATION PROVIDED multiplied against the NET assessed valuation of: BY ASSESSOR NO LATER THAN DECEMBER 10 (local govemment)C $188,949,180.00 $188,949,180.00 Submitted: 12/14/2022 for budget/fiscal year 2023 (no later than Dec. 15) (mm/dd/yyyy) PURPOSE (see end notes for definitions and examples) LEVY' REVENUE' 1. General Operating Expenses" 2. <Minus> Temporary General Property Tax Credit/ Temporary Mill Levy Rate Reduction' SUBTOTAL FOR GENERAL OPERATING: 3. General Obligation Bonds and Interest' 4. Contractual Obligations" 5. Capital Expenditures' 6. Refunds/Abatements" 7. Other" (specify): 65.455 mills $ 12367668.58 < > mills $ < 65.455 mills 0 12367668.58 mills $ mills $ mills $ mills $ mills $ 0 0 0 0 mills $ TOTAL: I SumofGmera1Operating 1 Subtotal and Liaes 3 to 7 65.455 mills $ 12367668.58 Contact person: (print) Signed: Carrie Beacom Daytime phone: Title: 303-779-5710 Accountant for the District Include one copy of this tax entity's completed form when filing the local government's budget by January 31st, per 29-1-113 C.R.S., with the pivision of Local Government (DLG). Room 521. 1313 Sherman Street. Denver. CO 80203. Ouestions? Call DLG 0113031 864-7720. ' If the taxing entity's boundaries include more than one county, you must certify the levies to each county. Use a separate form for each county and certify the same levies uniformly to each county per Article X, Section 3 of the Colorado Constitution. z Levies must be rounded to three decimal places and revenue must be calculated from the total NET assessed valuation (Line 4 of Form DLG57 on the County Assessor's FINAL certification of valuation). Page 1 of 4 DLG 70 (Rev.6/16) CERTIFICATION OF TAX LEVIES, continued THIS SECTION APPLIES TO TITLE 32, ARTICLE 1 SPECIAL DISTRICTS THAT LEVY TAXES FOR PAYMENT OF GENERAL OBLIGATION DEBT (32-1-1603 C.R.S.). Taxing entities that are Special Districts or Subdistricts of Special Districts must certify separate mill levies and revenues to the Board of County Commissioners, one each for the funding requirements of each debt (32-1-1603, C.R.S.) Use additional pages as necessary. The Special District's or Subdistrict's total levies for general obligation bonds and total levies for contractual obligations should be recorded on Page 1, Lines 3 and 4 respectively. CERTIFY A SEPARATE MILL LEVY FOR EACH BOND OR CONTRACT: BONDS: 1. Purpose of Issue: Series: Date of Issue: Coupon Rate: Maturity Date: Levy: Revenue: 2. Purpose of Issue: Series: Date of Issue: Coupon Rate: Maturity Date: Levy: Revenue: CONTRACTS": 3. Purpose of Contract: Title: Date: Principal Amount: Maturity Date: Levy: Revenue: 4. Purpose of Contract: Title: Date: Principal Amount: Maturity Date: Levy: Revenue: Use multiple copies of this page as necessary to separately report all bond and contractual obligations per 32-1-1603, C.R.S. Page 2 of 4 DLG 70 (Rev.6/16) Notes: Taxing Entity —A jurisdiction authorized by law to impose ad valorem property taxes on taxable property located within its territorial limits (please see notes B, C, and H below). For purposes of the DLG 70 only, a taxing entity is also a geographic area formerly located within a taxing entity's boundaries for which the county assessor certifies a valuation for assessment and which is responsible for payment of its share until retirement of financial obligations incurred by the taxing entity when the area was part of the taxing entity. For example: an area of excluded property formerly within a special district with outstanding general obligation debt at the time of the exclusion or the area located within the former boundaries of a dissolved district whose outstanding general obligation debt service is administered by another local government. s Governing Body —The board of county commissioners, the city council, the board of trustees, the board of directors, or the board of any other entity that is responsible for the certification of the taxing entity's mill levy. For example: the board of county commissioners is the governing board ex officio of a county public improvement district (PID); the board of a water and sanitation district constitutes ex officio the board of directors of the water subdistrict. Local Government - For purposes of this line on Page 1 of the DLG 70, the local government is the political subdivision under whose authority and within whose boundaries the taxing entity was created. The local government is authorized to levy property taxes on behalf of the taxing entity. For example, for the purposes of this form: 1. a municipality is both the local government and the taxing entity when levying its own levy for its entire jurisdiction; 2. a city is the local government when levying a tax on behalf of a business improvement district (BID) taxing entity which it created and whose city council is the BID board; 3. a fire district is the local government if it created a subdistrict, the taxing entity, on whose behalf the fire district levies property taxes. 4. a town is the local government when it provides the service for a dissolved water district and the town board serves as the board of a dissolved water district, the taxing entity, for the purpose of certifying a levy for the annual debt service on outstanding obligations. GROSS Assessed Value - There will be a difference between gross assessed valuation and net assessed valuation reported by the county assessor only if there is a "tax increment financing" entity (see below), such as a downtown development authority or an urban renewal authority, within the boundaries of the taxing entity. The board of county commissioners certifies each taxing entity's total mills upon the taxing entity's Gross Assessed Value found on Line 2 of Form DLG 57. Certification of Valuation by County Assessor, Form DLG 57 - The county assessor(s) uses this form (or one similar) to provide valuation for assessment information to a taxing entity. The county assessor must provide this certification no later than August 25th each year and may amend it, one time, prior to December 10'. Each entity must use the FINAL valuation provided by assessor when certifying a tax levy. F TIF Area —A downtown development authority (DDA) or urban renewal authority (URA), may form plan areas that use "tax increment financing" to derive revenue from increases in assessed valuation (gross minus net, Form DLG 57 Line 3) attributed to the activities/improvements within the plan area. The DDA or URA receives the differential revenue of each overlapping taxing entity's mill levy applied against the taxing entity's gross assessed value after subtracting the taxing entity's revenues derived from its mill levy applied against the net assessed value. NET Assessed Value —The total taxable assessed valuation from which the taxing entity will derive revenues for its uses. It is found on Line 4 of Form DLG 57. Please Note: A downtown development authority (DDA) maybe both a taxing entity and have also created its own TIF area and/or have a URA TIF Area within the DDA's boundaries. As a result DDAs may both receive operating revenue from their levy applied to their certified NET assessed value and also receive TIF revenue generated by any tax entity levies overlapping the DDA's TIF Area, including the DDA's own operating levy. Page 3 of 4 DLG 70 (Rev.6/16) " General Operating Expenses (DLG 70 Page 1 Line 1) —The levy and accompanying revenue reported on Line 1 is for general operations and includes, in aggregate, all levies for and revenues raised by a taxing entity for purposes not lawfully exempted and detailed in Lines 3 through 7 on Page 1 of the DLG 70. For example: a fire pension levy is included in general operating expenses, unless the pension is voter -approved, if voter -approved, use Line 7 (Other). ' Temporary Tax Credit for Operations (DLG 70 Page 1 Line 2) —The Temporary General Property Tax Credit/ Temporary Mill Levy Rate Reduction of 39-1-111.5, C.R.S. may be applied to the taxing entity's levy for general operations to effect refunds. Temporary Tax Credits (TTCs) are not applicable to other types of levies (non -general operations) certified on this form because these levies are adjusted from year to year as specified by the provisions of any contract or schedule of payments established for the payment of any obligation incurred by the taxing entity per 29-1-301(1.7), C.R.S., or they are certified as authorized at election per 29-1-302(2)(b), C.R.S. General Obligation Bonds and Interest (DLG 70 Page 1 Line 3) —Enter on this line the total levy required to pay the annual debt service of all general obligation bonds. Per 29-1-301(1.7) C.R.S., the amount of revenue levied for this purpose cannot be greater than the amount of revenue required for such purpose as specified by the provisions of any contract or schedule of payments. Title 32, Article 1 Special districts and subdistricts must complete Page 2 of the DLG 70. " Contractual Obligation (DLG 70 Page 1 Line 4) —If repayment of a contractual obligation with property tax has been approved at election and it is not a general obligation bond (shown on Line 3), the mill levy is entered on this line. Per 29-1-301(1.7) C.R.S., the amount of revenue levied for this purpose cannot be greater than the amount of revenue required for such purpose as specified by the provisions of any contract or schedule of payments. `' Capital Expenditures (DLG 70 Page 1 Line 5) —These revenues are not subject to the statutory property tax revenue limit if they are approved by counties and municipalities through public hearings pursuant to 29-1- 301(1.2) C.R.S. and for special districts through approval from the Division of Local Government pursuant to 29- 1-302(1.5) C.R.S. or for any taxing entity if approved at election. Only levies approved by these methods should be entered on Line 5. M Refunds/Abatements (DLG 70 Page 1 Line 6) —The county assessor reports on the Certification of Valuation (DLG 57 Line 11) the amount of revenue from property tax that the local government did not receive in the prior year because taxpayers were given refunds for taxes they had paid or they were given abatements for taxes originally charged to them due to errors made in their property valuation. The local government was due the tax revenue and would have collected it through an adjusted mill levy if the valuation errors had not occurred. Since the government was due the revenue, it may levy, in the subsequent year, a mill to collect the refund/abatement revenue. An abatement/refund mill levy may generate revenues up to, but not exceeding, the refund/abatement amount from Form DLG 57 Line 11. 1. Please Note: Pursuant to Article X, Section 3 of the Colorado Constitution, if the taxing entity is in more than one county, as with all levies, the abatement levy must be uniform throughout the entity's boundaries and certified the same to each county. To calculate the abatement/refund levy for a taxing entity that is located in more than one county, first total the abatement/refund amounts reported by each county assessor, then divide by the taxing entity's total net assessed value, then multiply by 1,000 and round down to the nearest three decimals to prevent levying for more revenue than was abated/refunded. This results in an abatement/refund mill levy that will be uniformly certified to all of the counties in which the taxing entity is located even though the abatement/refund did not occur in all the counties. N Other (DLG 70 Page 1 Line 7) —Report other levies and revenue not subject to 29-1-301 C.R.S. that were not reported above. For example: a levy for the purposes of television relay or translator facilities as specified in sections 29-7-101, 29-7-102, and 29-7-105 and 32-1-1005 (1) (a), C.R.S.; a voter -approved fire pension levy; a levy for special purposes such as developmental disabilities, open space, etc. Page 4 of 4 DLG 70 (Rev.6/16) PLATTE RIVER METROPOLITAN DISTRICT Weld County, Colorado FINANCIAL STATEMENTS DECEMBER 31, 2022 TABLE OF CONTENTS INDEPENDENT AUDITORS' REPORT BASIC FINANCIAL STATEMENTS Government -Wide Financial Statements Statement of Net Position Statement of Activities FUND FINANCIAL STATEMENTS Governmental Fund Financial Statements Balance Sheet - Governmental Fund Reconciliation of the Governmental Fund Balance Sheet to the Statement of Net Position Statement of Revenues, Expenditures, and Changes in Fund Balance - Governmental Fund Reconciliation of the Statement of Revenues, Expenditures, And Changes in Fund Balance of the Governmental Fund to the Statement of Activities Statement of Revenues, Expenditures, and Change in Fund Balance - Budget and Actual - General Fund NOTES TO THE FINANCIAL STATEMENTS OTHER INFORMATION Schedule of Assessed Valuation, Mill Levy, and Property Taxes Collected 4 5 6 7 8 9 10 11 - 24 25 A THE ADAM. GROUP, LLC CERTIFIED PUBLIC ACCOUNTANTS INDEPENDENT AUDITORS' REPORT Board of Directors Platte River Metropolitan District Weld County, Colorado Opinions We have audited the accompanying financial statements of the governmental activities and the major fund of the Platte River Metropolitan District (the District), as of and for the year ended December 31, 2022, and the related notes to the financial statements, which collectively comprise the District's basic financial statements as listed in the table of contents. In our opinion, the financial statements referred to above present fairly, in all material respects, the respective financial position of the governmental activities and the major fund of the District, as of December 31, 2022, and the respective changes in financial position and the respective budgetary comparison schedule for the General Fund, for the year then ended in accordance with accounting principles generally accepted in the United States of America. Basis for Opinions We conducted our audit in accordance with auditing standards generally accepted in the United States of America. Our responsibilities under those standards are further described in the Auditors' Responsibilities for the Audit of the Financial Statements section of our report. We are required to be independent of the District, and to meet our other ethical responsibilities, in accordance with the relevant ethical requirements relating to our audit. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinions. Responsibilities of Management for the Financial Statements Management is responsible for the preparation and fair presentation of the financial statements in accordance with accounting principles generally accepted in the United States of America, and for the design, implementation, and maintenance of internal control relevant to the preparation and fair presentation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, management is required to evaluate whether there are conditions or events, considered in the aggregate, that raise substantial doubt about the District's ability to continue as a going concern for twelve months beyond the financial statement date, including any currently known information that may raise substantial doubt shortly thereafter. 400 S. Colorado Blvd., Ste. 190 • Denver, CO 80246 • 303-733-3790 • 303-733-0230 fax • www.tagrpaco.com Auditors' Responsibilities for the Audit of the Financial Statements Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an Auditors' report that includes our opinions. Reasonable assurance is a high level of assurance but is not absolute assurance and therefore is not a guarantee that an audit conducted in accordance with generally accepted auditing standards will always detect a material misstatement when it exists. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control. Misstatements are considered material if there is a substantial likelihood that, individually or in the aggregate, they would influence the judgment made by a reasonable user based on the financial statements. In performing an audit in accordance with generally accepted auditing standards, we: Exercise professional judgment and maintain professional skepticism throughout the audit. Identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, and design and perform audit procedures responsive to those risks. Such procedures include examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements. Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the District's internal control. Accordingly, no such opinion is expressed. Evaluate the appropriateness of accounting policies used and the reasonableness of significant accounting estimates made by management, as well as evaluate the overall presentation of the financial statements. Conclude whether, in our judgment, there are conditions or events, considered in the aggregate, that raise substantial doubt about the District's ability to continue as a going concern for a reasonable period of time. We are required to communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit, significant audit findings, and certain internal control -related matters that we identified during the audit. Required Supplementary Information Management has omitted the Management's Discussion and Analysis that accounting principles generally accepted in the United States of America require to be presented to supplement the basic financial statements. Such missing information, although not a part of the basic financial statements, is required by the Governmental Accounting Standards Board who considers it to be an essential part of financial reporting for placing the basic financial statements in an appropriate operational, economic, or historical context. Our opinions on the basic financial statements are not affected by this missing information. Other Information Management is responsible for the other information included in basic financial statements. The other information comprises the schedule of assessed valuation, mill levy, and property taxes collected, but does not include the basic financial statements and our Auditors' report thereon. Our opinions on the basic financial statements do not cover the other information, and we do not express an opinion or any form of assurance thereon. 2 In connection with our audit of the basic financial statements, our responsibility is to read the other information and consider whether a material inconsistency exists between the other information and the basic financial statements, or the other information otherwise appears to be materially misstated. If, based on the work performed, we conclude that an uncorrected material misstatement of the other information exists, we are required to describe it in our report. Denver, Colorado April 14, 2023 3 BASIC FINANCIAL STATEMENTS PLATTE RIVER METROPOLITAN DISTRICT STATEMENT OF NET POSITION DECEMBER 31, 2022 Governmental Activities Assets Cash and cash equivalents - unrestricted Property taxes receivable Due from county treasurer Prepaid items Capital assets, net of depreciation Total Assets Liabilities Accounts payable Due to other governments Accrued interest Noncurrent liabilities: Due within one year Due in more than one year Total Liabilities Deferred Inflows of Resources Unavailable property taxes Total Deferred Outflows of Resources Net Position Net investment in capital assets Restricted Emergencies Unrestricted Total Net Position The accompanying notes are an integral part of the financial statements. 4 $ 6,516,219 12,367,669 37,999 2,571 5,830,000 24,754,458 35,209 3,983 318,679 1,383,503 39,156,749 40,898,123 12,367,669 12,367,669 5,830,000 288,000 (34,629,334) $ (28,511,334) PLATTE RIVER METROPOLITAN DISTRICT STATEMENT OF ACTIVITIES FOR THE YEAR ENDED DECEMBER 31, 2022 Net (Expense) Revenue and Changes in Program Revenues Net Position Functions/Programs Governmental Activities: General government Interest and expenses on long-term debt Total Governmental Activities Expenses Operating Capital Grants Charges for Grants and and Governmental Services Contributions Contributions Activities $ 43,521,005 $ 543,846 $ 44,064,851 GENERAL REVENUES: Property taxes Specific ownership taxes Investment earnings Other revenue Total General revenues Change in net position Net Position, Beginning Net Position, Ending $ $ $ (43,521,005) (543,846) $ $ (44,064,851) The accompanying notes are an integral part of the financial statements. 5 9,023,761 534,072 6,446 30,638 9,594,917 (34,469,934) 5,958,600 $ (28,511,334) PLATTE RIVER METROPOLITAN DISTRICT GOVERNMENTAL FUND - BALANCE SHEET DECEMBER 31, 2022 General Fund Assets Cash and cash equivalents - unrestricted Property taxes receivable Receivable from county treasurer Prepaid items Total Assets Liabilities, deferred inflows of resources and fund balance Liabilities: Accounts payable Accrued liabilities Total Liabilities Deferred inflows of resources: Unavailable property taxes Total Deferred Inflows of Resources Fund balance: Nonspendable Prepaid items Restricted Emergencies Assigned Subsequent years budget Unassigned Total Fund Balance Total Liabilities, Deferred Inflows of Resources and Fund Balance The accompanying notes are an integral part of the financial statements. 6 $ 6,516,219 12,367,669 37,999 2,571 $ 18,924,458 $ 35,209 3,983 39,192 12,367,669 12,367,669 2,571 288,000 675,768 5,551,258 6,517,597 $ 18,924,458 PLATTE RIVER METROPOLITAN DISTRICT RECONCILIATION OF THE GOVERNMENTAL FUND BALANCE SHEET TO THE STATEMENT OF NET POSITION DECEMBER 31, 2022 Total fund balance, governmental fund $ 6,517,597 Amounts reported for governmental activities in the statement of net position are different because: Capital assets used in governmental activities are not financial resources and therefore, are not reported in the governmental funds. Long-term liabilities, including loans payable are not due and payable in the current period, and therefore, are not reported in governmental funds. Bonds payable Accrued interest on long-term debt 5,830,000 (40,540,252) (318,679) Total net position of governmental activities $ (28,511,334) The accompanying notes are an integral part of the financial statements. 7 PLATTE RIVER METROPOLITAN DISTRICT STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCE - GOVERNMENTAL FUND FOR THE YEAR ENDED DECEMBER 31, 2022 General Fund Revenues Taxes: Property taxes Specific ownership taxes Earnings on investments Other revenue Total revenues Expenditures Current: Auditing County treasury fees Director's fees District management and accounting Dues and subscriptions Insurance and bonds Intergovernmental Legal Settlement agreement Other expenditures Debt service: Principal Interest and fiscal charges Total expenditures Excess (deficiency) of revenues over (under) expenditures Other Financing Sources Bond proceeds Total other fmancing sources Net change in fund balance Fund balance - beginning Fund balance - ending The accompanying notes are an integral part of the financial statements. 8 $ 9,023,761 534,072 6,446 30,638 9,594,917 8,500 135,358 3,700 159,993 825 2,405 1,000,000 209,903 42,000,000 321 1,509,748 230,566 45,261,319 (35,666,402) 42,000,000 42,000,000 6,333,598 183,999 $ 6,517,597 PLATTE RIVER METROPOLITAN DISTRICT RECONCILIATION OF THE STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE OF THE GOVERNMENTAL FUND TO THE STATEMENT OF ACTIVITIES YEAR ENDED DECEMBER 31, 2022 Net change in fund balance - total governmental fund: $ 6,333,598 Amounts reported for governmental activities in the statement of activities are different because: The issuance of long-term debt provides current financial resources to fund, whicle the repayment of the principal of long-term debt consumes the current financial resources of governmental fund. Neither transaction, however, has any effect on net position. Bond proceeds Principal payments Some expenses in the statement of activities do not require the use of current financial resources and are, therefore, not reported as expenditures in the governmental fund. Change in accrued interest on developer advances (42,000,000) 1,509,748 (313,280) Change in net position of governmental activities $ (34,469,934) The accompanying notes are an integral part of the financial statements. 9 PLATTE RIVER METROPOLITAN DISTRICT STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCE - BUDGET AND ACTUAL - GENERAL FUND FOR THE YEAR ENDED DECEMBER 31, 2022 Variance Original Final Positive Budget Budget Actual (Negative) Revenues Taxes: Property taxes Specific ownership taxes Earnings on investments Other revenue Total revenues $ 9,023,758 $ 9,023,758 $ 9,023,761 $ 3 264,841 264,841 534,072 269,231 2,000 2,000 6,446 4,446 500 500 30,638 30,138 9,291,099 9,291,099 9,594,917 303,818 Expenditures Current: Auditing - - 8,500 (8,500) County treasury fees 134,826 134,826 135,358 (532) Director's fees 2,500 2,500 3,700 (1,200) District management and accounting 20,000 20,000 159,993 (139,993) Dues and subscriptions 825 (825) Engineering 5,000 5,000 - 5,000 Insurance and bonds 5,000 5,000 2,405 2,595 Intergovernmental 9,000,000 9,000,000 1,000,000 8,000,000 Legal 10,000 10,000 209,903 (199,903) Settlement agreement 48,782,674 42,000,000 6,782,674 Support services 40,000 40,000 - 40,000 Other expenditures - - 321 (321) Debt service: Principal 1,509,748 (1,509,748) Interest 230,566 (230,566) Total expenditures 9,217,326 58,000,000 45,261,319 12,738,681 Excess (deficiency) of revenues over (under) expenditures 73,773 (48,708,901) (35,666,402) 13,042,499 Other Financing Sources Bond proceeds Total other financing sources 48,524,902 42,000,000 (6,524,902) 48,524,902 42,000,000 (6,524,902) Net change in fund balance 73,773 (183,999) 6,333,598 6,517,597 Fund balances - beginning Fund balances - ending 38,779 183,999 183,999 $ 112,552 $ - $ 6,517,597 $ 6,517,597 The accompanying notes are an integral part of the financial statements. 10 PLATTE RIVER METROPOLITAN DISTRICT NOTES TO FINANCIAL STATEMENTS DECEMBER 31, 2022 NOTE 1 - DEFINITION OF REPORTING ENTITY Platte River Metropolitan District (the District) is a quasi -municipal corporation and political subdivision of the State of Colorado was organized on January 8, 2020 and is governed pursuant to provisions of the Colorado Special District Act. The District's service area is located entirely in Weld County, Colorado (the County). The District was established to finance the planning, design, acquisition, construction, installation, relocation, redevelopment, maintenance, and financing of public improvements and to provide water on a wholesale basis to other governments or entities that provide water to individual users and to provide maintenance of the public improvements. The District has no employees, and all operations and administrative functions are contracted. The District follows the Governmental Accounting Standards Board (GASB) accounting pronouncements, which provide guidance for determining which governmental activities, organizations, and functions should be included within the financial reporting entity. GASB pronouncements set forth the financial accountability of a governmental organization's elected governing body as the basic criterion for including a possible component governmental organization in a primary government's legal entity. Financial accountability includes, but is not limited to, appointment of a voting majority of the organization's governing body, ability to impose its will on the organization, and potential for the organization to provide specific financial benefits or burdens and fiscal dependency. The District is not financially accountable for any other District organization, nor is the District a component unit of any other primary governmental entity. NOTE 2 — SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES The more significant accounting policies of the District are described as follows: Government -wide and Fund Financial Statements The government -wide financial statements include the statement of net position and the statement of activities. These financial statements include all of the activities of the District. Governmental activities are normally supported by taxes and intergovernmental revenues. The statement of net position reports all financial and capital resources of the District. The difference between assets plus deferred outflows of resources and liabilities plus deferred inflows of resources is reported as net position. 11 PLATTE RIVER METROPOLITAN DISTRICT NOTES TO FINANCIAL STATEMENTS DECEMBER 31, 2022 NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONTINUED) Government -wide and Fund Financial Statements (continued) The statement of activities demonstrates the degree to which the direct and indirect expenses of a given function or segment are offset by program revenues. Direct expenses are those that are clearly identifiable with a specific function or segment. Program revenues include 1) charges to customers or applicants who purchase, use, or directly benefit from goods, services or privileges provided by a given function or segment, and 2) grants and contributions that are restricted to meeting the operational or capital requirements of a particular function or segment. Taxes and other items not properly included among program revenues are reported instead as general revenues. Separate financial statements are provided for governmental funds. Major individual governmental funds are reported as separate columns in the fund financial statements. Measurement Focus, Basis of Accounting and Financial Statement Presentation The government -wide financial statements are reported using the economic resources measurement focus and the accrual basis of accounting. Revenues are recorded when earned and expenses are recorded when a liability is incurred, regardless of the timing of related cash flows. Grants and similar items are recognized as revenues as soon as all eligibility requirements imposed by the provider have been met. Depreciation is computed and recorded as an operating expense. Expenditures for property and equipment are shown as increases in assets, and redemption of bonds, notes and developer advances are recorded as a reduction in liabilities. Governmental fund financial statements are reported using the current financial resources measurement focus and the modified accrual basis of accounting. Revenues are recognized as soon as they are both measurable and available. Revenues are considered to be available when they are collectible within the current period or soon enough thereafter to pay liabilities of the current period. For this purpose, the government considers revenues to be available if they are collected within 60 days of the end of the current fiscal period. The major sources of revenue susceptible to accrual are property taxes and specific ownership taxes. Expenditures, other than interest on long-term obligations are recorded when the liability is incurred, or the long-term obligation is due. All other revenue items are considered to be measurable and available only when cash is received by the District. The District reports the following major governmental fund: The General Fund is the District's primary operating fund. It accounts for all financial resources of the general government. 12 PLATTE RIVER METROPOLITAN DISTRICT NOTES TO FINANCIAL STATEMENTS DECEMBER 31, 2022 NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONTINUED) Budgets In accordance with the Local Government Budget Law of Colorado, the District's Board of Directors holds public hearings in the fall each year to approve the budget and appropriate the funds for the ensuing year. The appropriation is at the total fund expenditures and other financing sources level and lapses at year end. The District's Board of Directors can modify the budget by line item within the total appropriation without notification. The appropriation can only be modified upon completion of notification and publication requirements. The budget includes the general fund on its basis of accounting unless otherwise indicated. Assets, Liabilities, Deferred Inflows of Resources, and Fund Balance / Net Position Cash Deposits and Investments The District's cash and cash equivalents are considered to be cash on hand and short- term investments with maturities of three months or less from the date of acquisition. As of December 31, 2022, the District had no investments. Property Taxes Property taxes are levied by the District's Board of Directors. The levy is based on assessed valuations determined by the county assessor generally as of January 1 of each year. The levy is normally set by December 15 by certification to the county commissioners to put the tax lien on the individual properties as of January 1 of the following year. The county treasurer collects the determined taxes during the ensuing calendar year. The taxes are payable by April 30 or, if in equal installments, at the taxpayer's election, in February and June. Delinquent taxpayers are notified in August and generally sales of the tax liens on delinquent properties are held in November or December. The county treasurer remits the taxes collected monthly to the District. Property taxes, net of estimated uncollectible taxes, are recorded initially as deferred inflows of resources in the year they are levied and measurable. The deferred inflows of resources related to property tax revenues are recorded as revenue in the year they are available or collected. Capital Assets Capital assets, which include only water storage as of December 31, 2022, are reported as a governmental activity in the government -wide financial statements. 13 PLATTE RIVER METROPOLITAN DISTRICT NOTES TO FINANCIAL STATEMENTS DECEMBER 31, 2022 NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONTINUED) Capital Assets (continued) Such assets are recorded as acquisition value or estimated acquisition value if purchased or constructed. Donated capital assets are recorded at estimated acquisition value at the date of donation. It is the District's policy to capitalize those assets with a cost or value of $5,000 or more. The cost of normal maintenance and repairs that do not add to the value of the asset or materially extend the life of the asset are not capitalized. Improvements that will be dedicated to other governmental entities are not depreciated. Improvements to be owned by the District, with the exception of certain landscaping improvements (e.g. trees, sod, and similar items), are capitalized and depreciated over the remaining useful lives of the related fixed assets, as applicable. As of December 31, 2022, the District has no capital assets which are incurring depreciation expense. Long -Term Obligations Long-term debt and other long-term obligations are reported as liabilities in the government -wide financial statements. In the fund financial statements, the amount of debt issued are reported as other financing sources. Deferred Inflows of Resources In addition to liabilities, the statement of net position will sometimes report a separate section for deferred inflows of resources. This separate financial statement element, deferred inflows of resources, represents an acquisition of net position that applies to a future period(s) and so will not be recognized as an inflow of resources (revenue) until that time. The revenue continues to be recognized when earned in the government -wide statements. The District has one item that qualifies for reporting in this category. Accordingly, unavailable property tax revenue, is deferred and recognized as an inflow of resources in the period that the amount becomes available. Fund Balances - Governmental Funds The District's governmental fund balances may consist of five classifications based on the relative strength of the spending constraints: Nonspendable fund balance — the amount of fund balance that is not in spendable form (such as inventory or prepaids) or is legally or contractually required to be maintained intact. 14 PLATTE RIVER METROPOLITAN DISTRICT NOTES TO FINANCIAL STATEMENTS DECEMBER 31, 2022 NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONTINUED) Fund Balances - Governmental Funds (continued) Restricted fund balance — the amounts constrained to specific purposes by their providers (such as grantors, bondholders, and higher levels of government), through constitutional provisions or by enabling legislation. The restricted fund balance in the General Fund represents Emergency Reserves that have been provided as required by Article X, Section 20 of the Colorado Constitution. A portion of the General Fund balance has been restricted in compliance with this requirement. Committed fund balance — amounts constrained to specific purposes by the District itself, using its highest level of decision -making authority (i.e. Board of Directors). To be reported as committed, amounts cannot be used for any other purpose unless the District takes the same highest level of action to remove or change the constraint. Assigned fund balance — amounts the District intends to use for a specific purpose. Intent can be expressed by the District Board of Directors or by an official or body to which the District Board of Directors delegates the authority. Unassigned fund balance — amounts that are available for any purpose. When an expenditure is incurred for purposes for which both restricted and unrestricted fund balance is available, the District considers restricted funds to have been spent first. When an expenditure is incurred for which committed, assigned or unassigned fund balances are available, the District considers amounts to have been spent first out of committed funds, then assigned funds, and finally unassigned funds, as needed, unless the District Board of Directors has provided otherwise in its commitment or assignment actions. Net Position Net Position represents the difference between assets and deferred outflows of resources less liabilities and deferred inflows of resources. The District can report up to three categories of net position, as follows: Net investment in capital assets — consists of net capital assets, reduced by outstanding balances of any related debt obligations and deferred inflows of resources attributable to the acquisition, construction, or improvement of those assets and increased by balances of deferred outflows of resources related to those assets. 15 PLATTE RIVER METROPOLITAN DISTRICT NOTES TO FINANCIAL STATEMENTS DECEMBER 31, 2022 NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONTINUED) Net Position (continued) Restricted net position — net position is considered restricted if their use is constrained to a particular purpose. Restrictions are imposed by external organizations such as federal or state laws. Restricted net position is reduced by liabilities and deferred inflows of resources related to the restricted assets. Unrestricted net position — consists of all other net position that does not meet the definition of the above two components and is available for general use by the District. When an expense is incurred for purposes for which both restricted and unrestricted net position are available, the District will use the most restrictive net position first. Current Year GASB Pronouncement For the year ended December 31, 2022, the District adopted the provisions of Governmental Accounting Standards Board (GASB) Statement No. 87, Leases, which is effective for financial statement periods beginning after June 15, 2021. GASB Statement No. 87 establishes a single model for lease accounting based on the foundational principle that leases are refinancings of the right to use an underlying asset. For the year ended December 31, 2022, the implementation of the new standard had no material impact on the District. NOTE 3 — CASH AND CASH EQUIVALENTS Cash and cash equivalents as of December 31, 2022, are classified in the accompanying statement of net position as follows: Cash and cash equivalents - unrestricted $ Total cash and cash equivalents $ 6,516,219 6,516,219 Cash and cash equivalents as of December 31, 2022, consist of the following: Deposits with financial institutions Total cash deposits Cash Deposits $ 6,516,219 $ 6,516,219 The Colorado Public Deposit Protection Act (PDPA) requires that all units of local government deposit cash in eligible public depositories. Eligibility is determined by state regulators. 16 PLATTE RIVER METROPOLITAN DISTRICT NOTES TO FINANCIAL STATEMENTS DECEMBER 31, 2022 NOTE 3 - CASH AND CASH EQUIVALENTS (CONTINUED) Cash Deposits (continued) Amounts on deposit in excess of federal insurance levels must be collateralized. The eligible collateral is determined by the PDPA. PDPA allows the institution to create a single collateral pool for all public funds. The pool for all the uninsured public deposits as a group is to be maintained by another institution or held in trust. The market value of the collateral must be at least equal to 102% of the aggregate uninsured deposits. The State Commissioners for banks and financial services are required by statute to monitor the naming of eligible depositories and reporting of the uninsured deposits and assets maintained in the collateral pools. At December 31, 2022, the District's cash deposits had a bank balance and carrying balance of $6,516,219. Investments As of December 31, 2022, the District had no investments. NOTE 4 — CAPITAL ASSETS An analysis of the changes in capital assets for the year ended December 31, 2022 follows: Balances Balances December 31, December 31, 2021 Additions Deletions 2022 Capital assets, not being depreciated Water storage $ 5,830,000 $ Total $ 5,830,000 $ As of December 31, 2022, the District had no depreciation expense. 17 $ 5,830,000 $ 5,830,000 PLATTE RIVER METROPOLITAN DISTRICT NOTES TO FINANCIAL STATEMENTS DECEMBER 31, 2022 NOTE 5 - LONG-TERM OBLIGATIONS The following is an analysis of changes in long-term obligations for the year ended December 31, 2022: Balances Balances December 31, December 31, Due In 2021 Additions Deletions 2022 One Year Direct Placement Advances: Developer advances - Princ ipal Series 2022, Special Obligation Bonds Total 50,000 $ 50,000 $ 42,000,000 1,459,748 40,540,252 1,383,503 50,000 $ 42,000,000 $ 1,509,748 $ 40,540,252 $ 1,383,503 The detail of the District's long-term obligations is as follows: Advances and Reimbursement Agreements - 70 Ranch, LLC. The District entered into an advance and reimbursement agreement with 70 Ranch, LLC on January 9, 2020. The agreement establishes the terms and conditions for reimbursing operations and maintenance costs. The District shall reimburse 70 Ranch, LLC for the advances together with interest at the rate of 7% per annum on such sums advanced. During the year ended December 31, 2022, the District paid in full principal of $50,000 and accrued interest of $7,441. Special Obligation Bonds, Series 2022 On August 24, 2022, the District issued Special Obligation Bonds, Series 2022 in the principal amount of $42,000,000. The Series 2022 Bonds were issued for the purpose of funding the Settlement Agreement. The Series 2022 Bonds are payable solely from pledged revenue, which includes: (a) for tax year 2021 an amount equal to 30 percent of the property taxes paid by the bond holders to the District net of any costs of collection attributable to the 30 percent; (b) for tax years 2022 through 2027, an amount equal to 30 percent of the property taxes paid by the bond holders to the District, net of any costs of collection attributable pro rata to that 30 percent; (c) for tax years 2028 through 2040, an amount equal to 20 percent of the property taxes paid by the bond holders to the District, net of any costs of collection attributable pro rata to that 20 percent; and (d) for any tax years from 2021 through 2040, an amount equal to 100 percent of the property taxes paid by the bond holders to the District attributable to any mill levy imposed in excess of the maximum mill levy, net of any costs of collection attributable to that 100 percent. 18 PLATTE RIVER METROPOLITAN DISTRICT NOTES TO FINANCIAL STATEMENTS DECEMBER 31, 2022 NOTE 5 - LONG-TERM OBLIGATIONS (CONTINUED) Special Obligation Bonds, Series 2022 (continued) The Series 2022 Bonds principal and interest are payable annually on October 15 in each year, at a rate of 3.75 percent, commencing on October 15, 2022. Significant events of default under the Series 2022 Bonds include (i) failure to deposit pledged revenue in the bond fund as required under the settlement agreement or failure to make any payment due on the Series 2022 Bonds when due; (ii) failure to perform any of its duties under the bond resolution; (iii) any representation or warranty of the District in connection with the Series 2022 Bonds or the settlement agreement which proves to be false or misleading in any material respect; and (iv) filing of a petition for bankruptcy. Annual debt service requirements to maturity on the Series 2022 Bonds are as follows: Year ended December 31, Principal Interest Total 2023 $ 1,383,503 $ 1,529,661 $ 2,913,164 2024 1,444,786 1,468,378 2,913,164 2025 1,498,965 1,414,199 2,913,164 2026 1,555,177 1,357,987 2,913,164 2027 1,613,496 1,299,668 2,913,164 2028 - 2032 9,021,744 5,544,076 14,565,820 2033 - 2037 10,845,037 3,720,783 14,565,820 2038 - 2041 13,177,544 1,418,621 14,596,165 Total $ 40,540,252 $ 17,753,373 $ 58,293,625 Authorized Debt At December 31, 2022, the District had authorized but unissued indebtedness from these elections in the following amounts allocated for the following purposes: 19 PLATTE RIVER METROPOLITAN DISTRICT NOTES TO FINANCIAL STATEMENTS DECEMBER 31, 2022 NOTE 5 - LONG-TERM OBLIGATIONS (CONTINUED) Authorized Debt (continued) Remaining at Total December 31, Authorized 2022 Street improvements $ 200,000,000 $ 200,000,000 Parks and recreation facilities 200,000,000 200,000,000 Water supply improvements 200,000,000 200,000,000 Sanitary sewer system 200,000,000 200,000,000 Transportation improvements 200,000,000 200,000,000 Mosquito control 200,000,000 200,000,000 Safety protection 200,000,000 200,000,000 Television relay and translation 200,000,000 200,000,000 Secuity 200,000,000 200,000,000 Operations and maintenance 200,000,000 158,000,000 Refunding debt 200,000,000 200,000,000 Total $ 2,200,000,000 $ 2,158,000,000 NOTE 6 — NET POSITION The District has net position consisting of three components - net investment in capital assets, restricted and unrestricted. The net investment in capital assets consists of capital assets that will be owned by the District, net of accumulated depreciation and reduced by the outstanding balances of bonds, mortgages, notes, or other borrowings that are attributable to the acquisition, construction, or improvements of those assets. Restricted net position includes amounts that are restricted for use either externally by creditors, grantors, contributors, or laws and regulations of other governments, or as imposed by law through constitutional provisions or enabling legislation. The District's restricted net position at December 31, 2022, consists of emergency reserves. As of December 31, 2022, the District had a deficit unrestricted balance of $34,629,334 and total deficit net position of $28,511,334. The deficit unrestricted balance is a result of bonds issued during the current year. 20 PLATTE RIVER METROPOLITAN DISTRICT NOTES TO FINANCIAL STATEMENTS DECEMBER 31, 2022 NOTE 7 - RELATED PARTIES Members of the Board of Directors of the District are employees of, owners of, or otherwise associated with 70 Ranch, LLC, the Bromley Companies, and/or United Milliken Reservoir Enterprise, LLC, (referred to herein as the Affiliates) and may have conflicts of interest in dealing with the District. Specific details of transactions with the Affiliates regarding the organization, advances, and debt are described elsewhere in these notes. NOTE 8 — INFRASTRUCTURE AGREEMENTS Infrastructure Acquisition Agreement between the District and 70 Ranch, LLC Effective January 9, 2020, the District and 70 Ranch, LLC entered into an Infrastructure Acquisition Agreement whereas the parties acknowledge that the District has required 70 Ranch, LLC to design and construct certain improvements on behalf of the District with the understanding that the District would acquire such improvements from 70 Ranch, LLC. Under the agreement, the District shall make payment for the improvements, subject to annual appropriation and budget approval by the Board, from funds available within any fiscal year and not otherwise required for operations, capital improvements, and debt service costs and expenses of the District. Payments by the District shall be applied first to interest on, then to principal of the purchase price. This reimbursement obligation is subordinate to any bonded indebtedness of the District. In general, the 70 Ranch, LLC shall construct the improvements as described in the District's service plan, for the benefit of the District and the property, anticipating that the District or another governmental entity will acquire such improvements from the District. Improvements will consist of street improvements, traffic and safety signals, storm drainage improvements, sanitation improvements, park and recreation improvements, and water improvements. Under no circumstances shall 70 Ranch, LLC operate, construct, or maintain any private water service lines or laterals. The water improvements will be designed and constructed in accordance with all applicable requirements and specifications of the county, the Colorado Department of Public Health and Environment, and all other governmental entities having jurisdiction thereof. 21 PLATTE RIVER METROPOLITAN DISTRICT NOTES TO FINANCIAL STATEMENTS DECEMBER 31, 2022 NOTE 9 - RISK MANAGEMENT Except as provided in the Colorado Governmental Immunity Act, the District may be exposed to various risks of loss related to torts, thefts of, damage to, or destruction of assets, errors or omissions, injuries to employees or acts of God. The District is a member of the Colorado Special Districts Property and Liability Pool (Pool). The Pool is an organization created by intergovernmental agreement to provide property, liability, public officials' liability, boiler and machinery, and workers compensation coverage to its members. The District pays annual premiums to the Pool for liability, property, public officials' liability, and workers compensation coverage. In the event aggregated losses incurred by the Pool exceed amounts recoverable from reinsurance contracts and funds accumulated by the Pool, the Pool may require additional contributions from the Pool members. Any excess funds which the Pool determines are not needed for purposes of the Pool may be returned to the members pursuant to a distribution formula. Settled claims have not exceeded this coverage in any of the past three fiscal years. NOTE 10 - TAX, SPENDING, AND DEBT LIMITATIONS Article X, Section 20 of the Colorado Constitution, commonly known as the Taxpayer's Bill of Rights (TABOR), contains tax, spending, revenue, and debt limitations which apply to the State of Colorado and all local governments. Spending and revenue limits are determined based on the prior year's Fiscal Year Spending adjusted for allowable increases based upon inflation and local growth. Fiscal Year Spending is generally defined as expenditures plus reserve increases with certain exceptions. Revenue in excess of the Fiscal Year Spending limit must be refunded unless the District's eligible electors approve retention of such revenue. TABOR requires local governments to establish emergency reserves. These reserves must be at least 3% of Fiscal Year Spending (excluding bonded debt service). Local governments are not allowed to use the emergency reserves to compensate for economic conditions, revenue shortfalls, or salary or benefit increases. The District's management believes it is in compliance with the provisions of TABOR. However, TABOR is complex and subject to interpretation. Many of the provisions, including the interpretation of how to calculate Fiscal Year Spending limits will require judicial interpretation. 22 PLATTE RIVER METROPOLITAN DISTRICT NOTES TO FINANCIAL STATEMENTS DECEMBER 31, 2022 NOTE 10 - TAX, SPENDING, AND DEBT LIMITATIONS (CONTINUED) On November 5, 2019, a majority of the District's electors authorized the District to collect, retain, and spend, the full amount of all taxes, tax increment revenues, tap fees, park fees, facility fees, public improvement fees, development fees, impact fees, service charges, inspection charges, administrative charges, grants, gifts or any other fee, collected or received by the District during each fiscal year. Such amounts constitute a voter -approved revenue change and are to be collected, retained, and spent by the District without regard to any spending, revenue -raising, or other limitation contained in Article X, Section 20 of the Colorado Constitution, the limits imposed on increases in property taxation by section 29-1-301, C.R.S. On November 2, 2021, a majority of the District's electors authorized the District to increase taxes annually or by such amounts necessary to pay the District's administration, operations, maintenance, and capital expenses, with property taxes levied in any year at a rate not more than 65.000 mills as adjusted for changes in the method of calculating assessed valuation after January 1, 2019, on all taxable property of the District to pay such expenses; as a voter -approved revenue change, without regard to any spending, revenue -raising, or other limitation contained within Article X, Section 20 of the Colorado Constitution, the limits imposed on increases in property taxation by section 29-1-301, C.R.S. Senate Bill 21-293, among other things, designates multi -family residential real property (defined generally, as property that is a multi -structure of four or more units) as a new subclass of residential real property. For tax collection year 2023, the assessment rate for single family residential property decreases to 6.95% from 7.15%. The rate for multifamily residential property, the newly created subclass, decreases to 6.80% from 7.15%. Agricultural and renewable energy production property decreases to 26.4% from 29.0%. Producing oil and gas remains at 87.5%. All other nonresidential property stays at 29%. Due to changes in the method of calculating assessed valuation, the board determined to increase the mill levy limitation to 65.455 mills, pursuant to the service plan. NOTE 11 — SETTLEMENT AGREEMENT During the year ended December 31, 2022, the District along with South Beebe Draw Metropolitan District and other entities entered into a settlement agreement with two oil and gas companies. The District agree to rebate 30 percent of the property taxes paid by these two oil and gas companies for 7 years and 20 percent of the property taxes paid by the two oil and gas companies for the next 13 years. The rebate is limited to property taxes paid on oil and gas wells located on land within 70 Ranch LLC (see Note 7). The contractual obligation was evidenced by a $42,000,000 cash flow bond payable and a $42,000,000 settlement agreement expenditure. 23 PLATTE RIVER METROPOLITAN DISTRICT NOTES TO FINANCIAL STATEMENTS DECEMBER 31, 2022 NOTE 12 — SUBSEQUENT EVENTS On March 29, 2023, the District purchased 500 -acre feet of water storage easement in Milliken Reservoir for $2,832,850 from United Milliken Reservoir Enterprise LLC (see Note 7). On March 29, 2023, the District agreed to support bonds issued by the Weld Adams Water Development Authority (the Authority). The Authority approved the issuance of special obligation bonds not to exceed $50,000,000. The District agreed to impose a mill levy of 65.455 mills as adjusted, upon 70 Ranch, LLC Property within the District, less the following: a) all amounts withheld as a result of Weld County collection fees; b) all amounts required to pay the District's operations and maintenance expenses, but not in excess of 8.000 mills; c) all amounts derived from specific ownership taxes; and d) all amounts owed or payable pursuant to the settlement agreement (see Note 11). 24 OTHER INFORMATION PLATTE RIVER METROPOLITAN DISTRICT SCHEDULE OF ASSESSED VALUATION, MILL LEVY, AND PROPERTY TAXES COLLECTED DECEMBER 31, 2022 Year ended December 31, 2021 Prior Year Assessed Valuation for Current Year Property Tax Levy $ 93,956,320 2022 137,862,010 Estimated for the year ending December 31, 2023 188,949,180 Mills Levied Total Property Taxes Levied Collected 65.455 $ 6,149,911 $ 9,023,761 65.455 9,023,758 $ 9,023,761 65.455 $ 12,367,669 Percentage Collected to Levied 146.73% 100.00% Note: Property taxes collected in any one year include collection of delinquent property taxes assessed in prior years, as well as reductions for property tax refunds or abatements. Information received from the county treasurer does not permit identification of specific year of assessment. 25 From: Marisa Davis To: CTB-weld-districts. Karla Ford Cc: Michael Davis Subject: Annual Reports Date: Wednesday, July 5, 2023 2:01:12 PM Attachments: 2022 Annual Report - PRMD - FINAL.pdf 2022 Annual Report - REALWLD - FINAL.pdf Ii Good afternoon, f 1?Veld Goon Attached please find annual reports for the below listed districts. Do not hesitate to contact our office should you require any additional information. Thank you. Platte River Metropolitan District Real Weld Metropolitan District MARISA DAVIS, SENIOR PARALEGAL LAW OFFICE OF MICHAEL E. DAVIS, LLC marisa@mdavislawoffice.com Please be advised that this email and any files transmitted with it may be confidential attorney -client communications or may otherwise be privileged or confidential and are intended solely for the individual or entity to whom they are addressed. If you are not the intended recipient, please do not read, copy or retransmit this communication but destroy it immediately. Any unauthorized dissemination, distribution or copying of this communication is strictly prohibited. Hello