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RESOURCE COLORADO AUG 12 2025
WATER AND SANITATION METROPOLITAN DISTRICT
2024 ANNUAL REPORT TO WELD COUNTY
SOUTHERN WELD ADVISORY BOARD COMMISSIONERS
Pursuant to Section II.C of the Service Plan as approved by the Board of County
Commissioners of Weld County, Colorado on August 25, 2004, the Resource Colorado Water
and Sanitation Metropolitan District ("District") is required to provide, on an annual basis, the
following report to the Southern Weld Advisory Board. Additional questions regarding the
information set forth in this report may be directed to the office of the District's General
Counsel, McGeady Becher Cortese Williams P.C., 450 E. 17th Avenue, Suite 400, Denver,
Colorado 80203, (303) 592-4380, during regular business hours and pursuant to the Rules and
Regulations adopted by the District. All information provided in this summary is through
December 31, 2024.
1. Capital Improvement Progress Report.
(a) Summary of Description and Mapping of Completed Improvements
from Date of Organization through December 31 of the Year Prior to the Year of the
Report: No improvements were completed as of December 31, 2024. Please see response
in 1(b) below. The District returned to active status on March 5, 2020 after being in inactive
status since January 1, 2016.
(b) Summary of Description and Drawing of Improvements Proposed to
be Constructed within 36 Months of January 1 of the Year of the Report ("Three Year CIP
Plan"): A Three -Year CIP Plan was not prepared by the District as of December 31, 2024,
as preliminary planning and engineering was not completed as of year-end. Since its organization
in 2004 through December 31, 2024, the District has been focusing on planning, engineering,
administrative and legal matters related to the provision of water and wastewater improvements
and services to service providers in Weld County (the "County"). Among the proposed service
providers that the District is expected to service is the Pioneer Community Authority Board (the
"CAB"). The CAB was formed by execution of the Pioneer Community Authority Board
Establishment Agreement on August 26, 2020 and the First Amended and Restated Pioneer
Community Authority Board on September 30, 2020 (collectively, the "CABEA"). The CAB is
made up of Pioneer Regional Metropolitan District and Keenesburg Parkway Metropolitan
District No. 1 (formerly Pioneer Metropolitan District No. 1), Keenesburg Parkway Metropolitan
District No. 2 (formerly Pioneer Metropolitan District No. 3), Pioneer Metropolitan District Nos.
2 and 4-6 (collectively, the "Pioneer Districts"). The Service Plans for the Pioneer Districts were
approved by Weld County on February 6, 2006. The CABEA is to function as the Facilities
Funding, Construction and Operations Agreement contemplated by Service Plans of the CAB
Districts (as defined in the CABEA). The CAB shall plan for, design and construct, furnish,
operate and maintain the Public Improvements and shall provide services authorized by the
Service Plans, and to which each CAB District shall transfer certain revenues received by such
respective CAB District in order to fund the Actual Operation and Maintenance Costs (as defined
therein). Under the CABEA, it is the intent of the CAB Districts that the CAB will own, operate,
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maintain, finance and construct the Public Improvements pursuant to a Long -Term Capital
Improvements Plan.
The District is in receipt of a Capital Improvements Plan prepared by the CAB
(the "CAB CIP"). As mentioned above, the CAB will be the District's first recipient of the
District's water and wastewater services. The CAB CIP contemplates capital improvements,
including but not limited to, wastewater treatment plant improvements, water main
improvements, sanitary sewer improvements, irrigation main improvements and storm sewer
improvements. The District adopts those portions of the CAB CIP, pertaining to wholesale water
and wastewater improvements as its current long term improvements plan. It is anticipated that
the District will adopt its own CIP at such time it has other users in its service area.
The utility plan and application for site location for the wastewater treatment
facility that was submitted to the North Front Range Water Quality Planning Association (the
"Association") on November 16, 2006, received conditional approval of the Association on April
26, 2007. The District submitted to the Association on December 21, 2021, an Amended
Wastewater Utility Plan Update related to the 208 Areawide Water Quality Management Plan
Amendment — New Lift Station or Capacity Increase. The District submitted to the Association
on September 13, 2022 the District's Utility Plan. The District submitted to the Association in
December 2022, an Amendment to the 208 Areawide Water Quality Management Plan — New
Wastewater Treatment Facility & 208 Wastewater Utility Service Area Modification. Design
and permitting of the Wastewater Treatment Facility commenced in 2023. On May 22, 2025, the
Colorado Department of Public Health & Environment granted approval of the Site Location
Approval for a new domestic wastewater treatment plant. On June 2, 2025, the revised
construction documents and Basis of Design Report was submitted for construction permits.
With respect to water service, in February of 2006, the District filed in Water
Division No. 1, an application for determination of rights to ground water in the not nontributary
Arapahoe Aquifer underlying approximately 650 acres and in the nontributary Larmie-Fox Hills
Aquifer underlying approximately 5,668 acres, which acreages overlap. A decree granting the
application was entered on December 29, 2006 entitling the District to withdraw 5.7 acre feet per
year from the not nontributary Arapahoe Aquifer and 1,281.9 acre feet per year from the
nontributary Laramie -Fox Hills Aquifer subject to the terms of the decree. The District no
longer is the applicant nor has any interest in the above -referenced water rights as of
approximately August, 2010.
With respect to providing service to other service providers, the District
completed the sale of Well 31652FP and associated water rights to the Town of Keenesburg
("Town") on July 26, 2006.
As of July 31, 2025, 2019, all of the District's Service Area has been annexed into
the Town, including the approximately 3,400 -acre development now known as Fruition, which
development is anticipated to be developed with single family and multi -family homes,
commercial, retail, and other amenities (the "Fruition Development"). It has been contemplated
that the District will provide water and sewer service to the Fruition Development.
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(c) Summary of Infrastructure Phasing and Schedules of Improvements
Described in Three Year CIP Plan:
Please see response in 1(b) above.
2. District Financial Reporting:
(a) Annual Budget for Year of Report. Attached as Exhibit A is a copy of
the District's 2025 Budget.
(b) Annual Audit of Financial Statements for the Fiscal Year Ending
December 31 of the Year Prior to the Year of the Report. Attached as Exhibit B is a copy of
the 2024 Audit Exemption Application.
(c) Summary of Total Debt Outstanding and Remaining Amounts of
Authorized but Unissued Debt Authorization. See Exhibit C attached hereto.
3. Operations Reporting.
(a) Current Rules and Regulations. The District previously adopted Rules
and Regulations concerning the construction, administration, and operation of the District's
public Water and Wastewater Systems effective as of July 18, 2005, as amended effective April
11, 2007 (the "Initial Rules and Regulations"), provided with the 2009 Report. On February 15,
2021, the District adopted Rules and Regulations which replace and supersede in their entirety
the Initial Rules and Regulations, a copy of which is attached hereto.
(b) On October 23, 2020, the District adopted Resolution No. 2020-10-03,
Adopting Certain Fees, Rates and Charges (the "Fee Resolution"); setting forth the imposition of
the Resource Fees and Charges, which will be limited to service fees charged to the CAB
relating to administration and compliance with Resource's Service Plan, applicable law, and
agreements, and the CAB will collect and remit the Resource Fees and Charges to Resource.
This Fee Resolution imposes the Resource Fees and Charges in the amount of Fifty Thousand
Dollars ($50,000.00) to be paid by the CAB to Resource beginning on December 1, 2020, on a
prorated basis for the period beginning on the effective date of this resolution set forth below
through December 31, 2020, and each year thereafter on each June 1 in the full amount of Fifty
Thousand Dollars ($50,000.00), a copy of which was provided in the 2021 Report.
(c) Changes to District's Taxing Boundary or Service Area Boundary, as
such Terms are Defined in District's Service Plan. The following boundary change was made
during 2024:
• Order for Inclusion of approximately 0.571 acres issued on September 26, 2024
and recorded in the Weld County land records on October 4, 2024 at Reception
No. 4986458.
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(d) Copies of Executed Intergovernmental Agreements. See Exhibit D
attached hereto for a full listing.
(e) Names and Terms of Board Members and Contact Information.
Joel H. Farkas, President
Gateway American Resources
9033 E. Easter Ave., Suite 112
Centennial, CO 80112
Telephone: (720) 362-5995
Fax: (720) 362-7116
Term expires: May 2029
Toni L. Serra, Treasurer
Gateway American Resources
9033 E. Easter Ave., Suite 112
Centennial, CO 80112
Telephone: (720) 362-5995
Fax: (720) 362-7116
Term expires: May 2029
Juliet J. Farkas, Assistant Secretary
Gateway American Resources
9033 E. Easter Ave., Suite 112
Centennial, CO 80112
Telephone: (720) 362-5995
Fax: (720) 362-7116
Term expires: May 2027
Elizabeth P. Farkas, Assistant Secretary
Gateway American Resources
9033 E. Easter Ave., Suite 112
Centennial, CO 80112
Telephone: (720) 362-5995
Fax: (720) 362-7116
Term expires: May 2027
Vacant, Term expires May 2027
(f) Schedule and Locations of Regular Board Meetings.
The District has regularly scheduled board meetings on the third Monday of each
month at 2:00 p.m., by electronic means.
(g) Summary of any Outstanding Litigation. To our knowledge there is no
outstanding litigation involving the District.
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Respectfully submitted this 12th day of August, 2025.
RESOURCE COLORADO WATER AND
SANITATION METROPOLITAN
DISTRICT
By: c2--2
President
Attest:
Secretary
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EXHIBIT A
2025 Budget
A-1
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RESOLUTION NO. 2024-11-02
RESOLUTION TO ADOPT BUDGET AND APPROPRIATE SUMS OF MONEY
RESOLUTION OF THE BOARD OF DIRECTORS OF RESOURCE COLORADO
WATER AND SANITATION METROPOLITAN DISTRICT, WELD COUNTY,
COLORADO, PURSUANT TO SECTION 29-1-108, C.R.S., SUMMARIZING
EXPENDITURES AND REVENUES FOR EACH FUND, ADOPTING A BUDGET AND
APPROPRIATING SUMS OF MONEY FOR THE BUDGET YEAR 2025
A. The Board of Directors of Resource Colorado Water and Sanitation Metropolitan
District (the "District") has appointed CliftonLarsonAllen LLP to prepare and submit a proposed
budget to said governing body at the proper time.
B. CliftonLarsonAllen LLP has submitted a proposed budget to this governing body
by October 15, 2024 for its consideration.
C. Upon due and proper notice, published or posted in accordance with the law, said
proposed budget was open for inspection by the public at a designated place, a public hearing
was held on November 18, 2024, and interested taxpayers were given the opportunity to file or
register any objections to said proposed budget.
D. The budget has been prepared to comply with all terms, limitations and
exemptions, including, but not limited to, reserve transfers and expenditure exemptions, under
Article X, Section 20 of the Colorado Constitution ("TABOR") and other laws or obligations
which are applicable to or binding upon the District.
E. 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.
F. The Board of Directors has made provision therein for revenues in an amount
equal to or greater than the total proposed expenditures as set forth in said budget.
G. It is not only required by law, but also necessary to appropriate the revenues
provided in the budget to and for the purposes described below, thereby establishing a limitation
on expenditures for the operations of the District.
NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF DIRECTORS OF
RESOURCE COLORADO WATER AND SANITATION METROPOLITAN DISTRICT,
WELD COUNTY, COLORADO:
1. The budget, as submitted, amended, and summarized by fund, is hereby approved
and adopted as the budget of the District for the year stated above.
2. The budget is hereby approved and adopted, shall be certified by the Secretary of
the District to all appropriate agencies and is made a part of the public records of the District.
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3. The sums set forth as the total expenditures of each fund in the budget attached
hereto as Exhibit A and incorporated herein by reference are hereby appropriated from the
revenues of each fund, within each fund, for the purposes stated.
RESOLUTION APPROVED AND ADOPTED on November 18, 2024.
RESOURCE COLORADO WATER AND
SANITATION METROPOLITAN
DISTRICT
By:
Attest:
By:
Secretary
President
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EXHIBIT A
Budget
A-1
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RESOURCE COLORADO WATER AND SANITATION DISTRICT
ANNUAL BUDGET
FOR YEAR ENDING DECEMBER 31, 2025
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RESOURCE COLORADO WATER AND SANITATION DISTRICT
GENERAL FUND
2025 BUDGET
WITH 2023 ACTUAL AND 2024 ESTIMATED
For the Years Ended and Ending December 31,
12/3/24
ACTUAL
ESTIMATED
BUDGET
2023
2024
2025
BEGINNING FUND BALANCES $
REVENUES
Total revenues
Total funds available
EXPENDITURES
General and administrative
Operations and maintenance
Total expenditures
Total expenditures and transfers out
requiring appropriation
ENDING FUND BALANCES $ $ $
No assurance provided. See summary of significant assumptions.
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RESOURCE COLORADO WATER AND SANITATION DISTRICT
PROPERTY TAX SUMMARY INFORMATION
2025 BUDGET
WITH 2023 ACTUAL AND 2024 ESTIMATED
For the Years Ended and Ending December 31,
12/3/24
ACTUAL
ESTIMATED
BUDGET
2023
2024
2025
ASSESSED VALUATION
Agricultural
State assessed
Oil and Gas
Certified Assessed Value
MILL LEVY
Total mill levy
140 130 130
690 1,600 1,590
4,240 4,080 4,250
$ 5,070 $ 5,810 $ 5,970
0.000
0.000 0.000
PROPERTY TAXES
Budgeted property taxes $ $ $
BUDGETED PROPERTY TAXES
General $ $ $
$ $
No assurance provided. See summary of significant assumptions.
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RESOURCE COLORADO WATER AND SANITATION DISTRICT
2025 BUDGET
SUMMARY OF SIGNIFICANT ASSUMPTIONS
Services Provided
The District was organized to provide construction, installation, financing and operation of public
improvements, including water and sanitary sewer. The District's service area is located entirely within
Weld County, Colorado. The District was formed by Court Order recorded with the Weld County Clerk
and Recorder on December 1, 2004.
At the District's most recent election, held on May 6, 2014, the electorate authorized general obligation
debt to provide financing for the design, acquisition, construction and installation of essential public -
purpose facilities in the amount of $324,000,000 for each purpose including water, sewer, streets, and
mosquito control, $324,000,000 for agreements with other governments for District improvements,
$324,000,000 for debt refunding, and $324,000,000 for operations and maintenance. Debt is subject to
the terms of the Service Plan. The electorate also approved the removal of limitations imposed by the
TABOR Amendment and any other law that purports to limit the District's revenue or expenditures.
The District has no employees and all administrative functions are contractual.
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
The District has no revenue.
Expenditures
General and Administrative
No expenditures are anticipated in 2025.
Debt and Leases
The District has no debt or operating or capital leases.
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RESOURCE COLORADO WATER AND SANITATION DISTRICT
2025 BUDGET
SUMMARY OF SIGNIFICANT ASSUMPTIONS
Reserves
Emergency Reserve
TABOR requires local governments to establish Emergency Reserves. These reserves must be at least
3% of fiscal year spending. Since the District does not anticipate generating any revenue nor incurring
any expense, an emergency reserve is not reflected.
This information is an integral part of the accompanying budget.
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I, Lisa A. Jacoby, hereby certify that I am the duly appointed Secretary of the Resource Colorado
Water and Sanitation Metropolitan District, and that the foregoing is a true and correct copy of
the budget for the budget year 2025, duly adopted at a meeting of the Board of Directors of the
Resource Colorado Water and Sanitation Metropolitan District held on November 18, 2024.
faCoil
Secretary
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RESOLUTION NO. 2024-11-03
RESOLUTION TO SET MILL LEVIES
RESOLUTION OF THE RESOURCE COLORADO WATER AND SANITATION
METROPOLITAN DISTRICT LEVYING GENERAL PROPERTY TAXES, PURSUANT
TO SECTION 39-1-111, C.R.S., FOR THE YEAR 2024, TO HELP DEFRAY THE COSTS
OF GOVERNMENT FOR THE 2025 BUDGET YEAR
A. The Board of Directors of the Resource Colorado Water and Sanitation
Metropolitan District (the "District") has adopted an annual budget in accordance with the Local
Government Budget Law, on November 18, 2024.
B. The adopted budget is attached as Exhibit A to the Resolution of the Board of
Directors of the District to Adopt Budget and Appropriate Sums of Money, and such budget is
incorporated herein by this reference.
C. The amount of money necessary to balance the budget for general fund expenses
from property tax revenue is identified in the budget.
D. The amount of money necessary to balance the budget for debt service fund
expenses from property tax revenue is identified in the budget.
NOW, THEREFORE, PURSUANT TO SECTIONS 39-1-111(5) and 39-5-128(1),
C.R.S., BE IT RESOLVED by the Board of Directors of the Resource Colorado Water and
Sanitation Metropolitan District, Weld County, Colorado, that:
1. For the purpose of meeting all general operating expenses of the District during
the 2025 budget year, the District determined to levy mills upon each dollar of the total valuation
for assessment of all taxable property within the District, as set forth in the budget, to raise the
required revenue.
2. That for the purpose of meeting all debt retirement expenses of the District during
the 2025 budget year, the District determined to levy mills upon each dollar of the total valuation
for assessment of all taxable property within the District, as set forth in the budget, to raise the
required revenue.
3. That for the purpose of meeting all contractual obligation expenses of the District
during the 2025 budget year, the District determined to levy mills upon each dollar of the total
valuation for assessment of all taxable property within the District, as set forth in the budget, to
raise the required revenue.
4. That the Secretary is hereby authorized and directed to immediately certify to the
Board of County Commissioners of Weld County, Colorado, the mill levies for the District as set
forth in the District's Certification of Mill Levies, attached hereto as Exhibit 1 and incorporated
herein by reference, recalculated as needed upon receipt of the final certification of valuation
from the County Assessor in order to comply with any applicable revenue and other budgetary
limits.
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[SIGNATURE PAGE OF RESOLUTION TO SET MILL LEVIES]
RESOLUTION APPROVED AND ADOPTED on November 18, 2024.
RESOURCE COLORADO WATER AND
SANITATION METROPOLITAN
DISTRICT
By: c2 --
President
Attest:
By:
Secretary
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EXHIBIT 1
Certification of Tax Levies
A-1
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1359 County Tax Entity Code
DOLA LGID/SID 65524/1
CERTIFICATION OF TAX LEVIES for NON -SCHOOL Governments
TO: County Commissioners' of
On behalf of the
the
of the
WELD COUNTY , Colorado.
RESOURCE COLO WATER Et SANITATION METRO
4
(taxing entity)`
Board of Directors
(governing body)B
RESOURCE COLO WATER Et SANITATION METRO
Hereby officially certifies the following mills
to be levied against the taxing entity's GROSS $
assessed valuation of:
Note: If the assessor certified a NET assessed valuation
(AV) different than the GROSS AV due to a Tax
Increment Financing (TIF) AreaF the tax levies must be $
calculated using the NET AV. The taxing entity's total
property tax revenue will be derived from the mill levy
multiplied against the NET assessed valuation of:
Submitted:
(no later than Dec. 15)
(local govemment)C
$5,970.00
(GROSS assessed valuation. Line 2 of the Certification of Valuation Form DLG 57E)
$5,970.00
(NETG assessed valuation, Line 4 of the Certification of Valuation Form DLG 57)
USE VALUE FROM FINAL CERTIFICATION OF VALUATION PROVIDED
BY ASSESSOR NO LATER THAN DECEMBER 10
12/12/2024 for budget/fiscal year
(mm/dd/yyyy)
2025
PURPOSE (see end notes for definitions and examples)
LEVY2
REVENUE2
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/AbatementsM
7. OtherN (specify):
0.000
0.00
mills
0
mills $ 0
mills
mills $
mills $
mills $
mills $
mills $
0
0
0
0
0
0
TOTAL. r Sum of General Operating
1 I Subtotal and Lines 3 to 7
0
mills
0
Contact person:
(print)
Signed:
Terri Boroviak
Daytime
phone:
Title:
303-439-6030
District Accountant
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
Division ofLocal Government (DLG), Room 521, 1313 Sherman Street, Denver, CO 80203. Questions? Call DLG at (303) 864-7720.
1 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.
2 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.10/24)
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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.10/24)
Doc ID: 0d2ab776ff538adb6609f160881a913f4b8c1577
I, Lisa A. Jacoby, hereby certify that I am the duly appointed Secretary of the Resource Colorado
Water and Sanitation Metropolitan District, and that the foregoing is a true and correct copy of
the Certification of Mill Levies for the budget year 2025, duly adopted at a meeting of the Board
of Directors of the Resource Colorado Water and Sanitation Metropolitan District held on
November 18, 2024.
Secretary
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EXHIBIT B
2024 Audit Exemption Application
B-1
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Docusign Envelope ID: D645F6C8-D3A5-4EDC-ADD4-B909A178CB45
APPLICATION FOR EXEMPTION FROM AUDIT
SHORT FORM
NAME OF GOVERNMENT
ADDRESS
CONTACT PERSON
PHONE
EMAIL
Resource Colorado Water and Sanitation Metropolitan District
8390 East Crescent Parkway
Suite 300
Greenwood Village, CO 80111-2814
Paul Wilson
303-779-5710
paul.wilson@claconnect.com
For the Year Ended
12/31/24
or fiscal year ended:
PART 1 - CERTIFICATION OF PREPARER
I certify that I am skilled in
my knowledge.
NAME:
TITLE
FIRM NAME (if applicable)
ADDRESS
PHONE
governmental accounting and that the information in the application is complete and accurate, to the best of
Paul Wilson
Accountant for the District
CliftonLarsonAllen LLP
8390 East Crescent Parkway, Suite 300, Greenwood Village, CO 80111-2814
303-779-5710
PREPARER (SIGNATURE REQUIRED)
DATE PREPARED
(No exemption shall be granted prior to the
close of said fiscal year)
SEE ATTACHED ACCOUNTANT'S COMPILATION REPORT
2/25/2025
Please indicate whether the following financial information is recorded
using Governmental or Proprietary fund types
GOVERNMENTAL
(MODIFIED ACCRUAL BASIS)
PROPRIETARY
(CASH OR BUDGETARY BASIS)
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Docusign Envelope ID: D645F6C8-D3A5-4EDC-ADD4-B909A178CB45
Line #
2-1 Taxes: Property (report mills levied in question 10-7)
2-2 Specific ownership
2-3 Sales and use
2-4 Other (specify):
2-5 Licenses and permits
2-6 Intergovernmental:
2-7
2-8
2-9
2-10 Charges for services
2-11 Fines and forfeits
2-12 Special assessments
2-13 Investment income
2-14 Charges for utility services
2-15 Debt proceeds (should agree to table 4-4, column 'Issued during year')
2-16 Lease proceeds
2-17 Developer Advances received (should agree to table 4-4, column 'Issued during year')
2-18 Proceeds from sale of capital assets
2-19 Fire and police pension
2-20 Donations
2-21 Other (specify):
2-22
2-23
2-24
2-25
2-26
Line #
3-1 Administrative
3-2 Salaries
3-3 Payroll taxes
3-4 Contract services
3-5 Employee benefits
3-6 Insurance
3-7 Accounting and legal fees
3-8 Repair and maintenance
3-9 Supplies
3-10 Utilities and telephone
3-11 Fire/Police
3-12 Streets and highways
3-13 Public health
3-14 Capital outlay
3-15 Utility operations
3-16 Culture and recreation
3-17 Debt service principal (should agree to table 4-4, column' Retired during year')
3-18 Debt service interest
3-19 Repayment of Developer Advance (should agree to table 4-4,
Principal column' Retired during year')
3-20 Repayment of Developer Advance Interest
3-21 Contribution to pension plan
3-22 Contribution to Fire & Police Pension Assoc.
3-23 Other (specify):
3-24
3-25
3-26
3-27
3-28
PART 2 - REVENUES
All revenues for all funds must be reflected in this section, including proceeds from the sale of the government's land, building, and
equipment, and proceeds from debt or lease transactions. Financial information will not include fund equity informalon.
Description Round to the nearest dollar Please use this
space to provide
any necessary
explanations
$
$
$
Grants $
Conservation Trust Funds (Lottery)
Highway Users Tax Funds (HUTF) $
Other (specify):
(add lines 2-1 through 2-25) TOTAL REVENUES $
PART 3 - EXPENDITURES/EXPENSES
All expenditures for all funds must be reflected in this section, including the purchase of capital assets and principal and interest
payments on long-term debt. Financial information will not include fund equity information.
Description
Round to the nearest dollar
$
$
$
Please use this
space to provide
any necessary
explanations
(add lines 3-1 through 3-27) TOTAL EXPENDITURES/EXPENSES $
If TOTAL REVENUES (Line 2-26) or TOTAL EXPENDITURES (Line 3-28) are GREATER than $100,000 - STOP.
You may not use this form. Please use the "Application for Exemption from Audit - LONG FORM".
2
Doc ID: 0d2ab776ff538adb6609f160881a913f4b8c1577
Docusign Envelope ID: D645F6C8-D3A5-4EDC-ADD4-B909A178CB45
PART 4 - DEBT OUTSTANDING, ISSUED, AND RETIRED
Please answer the following questions by marking the appropriate boxes.
Yes No
4-1 Does the entity have outstanding debt?
(If 'No' is checked, skip to question 4-5)
(If 'Yes' is checked, please attach a copy of the entity's debt repayment schedule)
4-2 Is the debt repayment schedule attached? If no, MUST explain below:
The District's debt consists of developer advances, which are not general obligation debt.
Repayment is subject to annual appropriation if funds become available.
4-3 Is the entity current in its debt service payments? If no, MUST explain below:
4-4
N/A
Please complete the following debt schedule, if applicable:
(please only include principal amounts)
(enter all amounts as positive numbers)
General obligation bonds
Revenue bonds
Notes/Loans
Lease & SBITA** Liabilities [GASB 87 & 96]
Developer Advances
Other (specify):
TOTAL
**Subscription -Based Information Technology Arrangements
Outstanding at
end of prior year
Issued during
year
Retired during
year
Outstanding at
year-end
$ -
$ -
$ -
$ -
$ -
$ -
$ -
$ -
$ -
$ -
$ -
$ -
$ -
$ -
$ -
$ -
$ 135,054
$ -
$ -
$ 135,054
$ -
$ -
$ -
$ -
$ 135,054
$ -
$ -
$ 135,054
*Must agree to prior year-end balance
Please answer the following questions by marking the appropriate boxes.
Yes
No
4-5 Does the entity have any authorized but unissued debt as of its fiscal year-end?
How much?
Date the debt was authorized:
2,318,000,000.00
11/2/2004
NEW 4-6 Is the authorized but unissued debt further limited by the entity's most recent Service
Plan?
If yes: How much?
Date of the most recent Service Plan:
4-7
If yes: How much?
4-8
If yes: What is the amount outstanding?
4-9 Does the entity have any lease agreements?
If yes: What is being leased?
What is the original date of the lease?
Number of years of lease?
Is the lease subject to annual appropriation?
What are the annual lease payments?
324,000,000.00
8/25/2024
Does the entity intend to issue debt within the next calendar year?
Does the entity have debt that has been refinanced that it is still responsible for?
Part 4 - Please use this space to provide any explanations/comments or attach separate documentation, if needed
PART 5 - CASH AND INVESTMENTS
Please provide the entity's cash deposit and investment balances.
5-1 YEAR-END Total of ALL Checking and Savings Accounts
5-2 Certificates of deposit
5-3
TOTAL CASH DEPOSITS
Investments (if investment is a mutual fund, please list underlying investments):
Amount Total
TOTAL INVESTMENTS
TOTAL CASH AND INVESTMENTS
Please answer the following questions by marking in the appropriate boxes.
Yes
No
N/A
5-4 Are the entity's investments legal in accordance with Section 24-75-601, et.
seq., C.R.S.?
5-5 Are the entity's deposits in an eligible (Public Deposit Protection Act) public
depository (Section 11-10.5-101, et seq. C.R.S.)?
Part 5 - If no, MUST use this space to provide any explanations
3
Doc ID: 0d2ab776ff538adb6609f160881a913f4b8c1577
Docusign Envelope ID: D645F6C8-D3A5-4EDC-ADD4-B909A178CB45
PART 6 - CAPITAL AND RIGHT -TO -USE ASSETS
Please answer the following questions by marking in the appropriate boxes.
Yes No
6-1 Does the entity have capital assets?
(If 'No' is checked, skip the rest of Part 6)
6-2 Has the entity performed an annual inventory of capital assets in accordance with Section
29-1-506, C.R.S.,? If no, MUST explain:
6-3
The District has no capital assets.
Complete the following capital & right -to -use assets table:
Land
Buildings
Machinery and equipment
Furniture and fixtures
Infrastructure
Construction In Progress (CIP)
Leased & SBITA Right -to -Use Assets
Other (explain):
Accumulated Depreciation/Amortization
(Please enter a negative, or credit, balance)
TOTAL
Balance -
beginning of the
year
Additions
Deletions
Year -End
Balance
$ -
$ -
$ -
$ -
$ -
$ -
$ -
$ -
$ -
$ -
$ -
$ -
$ -
$ -
$ -
$ -
$ 87,204
$ -
$ -
$ 87,204
$ -
$ -
$ -
$ -
$ -
$ -
$ -
$ -
$ -
$ -
$ -
$ -
$ -
$ -
$ -
$ -
$ 87,204
$ -
$ -
$ 87,204
*Must agree to prior year-end balance
^Generally capital asset additions should be reported as capital outlay on line
3-14 and capitalized in accordance with the government's capitalization
policy. Please explain any discrepancy
Part 6 - Please use this space to provide any explanations/comments or attach documentation, if needed
PART 7 - PENSION INFORMATION
Please answer the following questions by marking in the appropriate boxes.
Yes No
7-1 Does the entity have an "old hire" firefighters' pension plan?
7-2 Does the entity have a volunteer firefighters' pension plan?
If yes: Who administers the plan?
Indicate the contributions from:
Tax (property, SO, sales, etc.):
State contribution amount:
Other (gifts, donations, etc.):
TOTAL
What is the monthly benefit paid for 20 years of service per retiree as of Jan
1?
Part 7 - Please use this space to provide any explanations or comments
PART 8 - BUDGET INFORMATION
Please answer the following questions by marking in the appropriate boxes. Yes No N/A
8-1 Did the entity file a budget with the Department of Local Affairs for the
current year in accordance with Section 29-1-113 C.R.S.?
If no, MUST explain:
8-2 Did the entity pass an appropriations resolution, in accordance with Section
29-1-108 C.R.S.? If no, MUST explain:
o ❑ ❑
If yes: Please indicate the amount appropriated for each fund separately for the year reported
(Please make sure each individual fund's appropriation agrees to how the budget was adopted.
Do not combine funds)
Governmental/Proprietary Fund Name
General Fund
Total Appropriations By Fund
$0.00
4
Doc ID: 0d2ab776ff538adb6609f160881a913f4b8c1577
Docusign Envelope ID: D645F6C8-D3A5-4EDC-ADD4-B909A178CB45
PART 9 - TAXPAYER'S BILL OF RIGHTS (TABOR)
Please answer the following question by marking in the appropriate box. Yes
No
9-1
Is the entity in compliance with all the provisions of TABOR [State Constitution, Article X,
Section 20(5)]?
Note: An election to exempt the entity from the spending limitations of TABOR does not exempt the entity
from the 3 percent emergency reserve requirement. All entities should determine if they meet this
requirement of TABOR.
Part 9 - If no, MUST use this space to provide any explanations
PART 10 - GENERAL INFORMATION
Please answer the following questions by marking in the appropriate boxes.
Yes No
10-1
If yes:
Is this application for a newly formed governmental entity?
Date of formation:
10-2 Has the entity changed its name in the past or current year?
If yes: Please list the NEW name:
Please list the PRIOR name:
10-3 Is the entity a metropolitan district?
10-4 Please indicate what services the entity provides:
10-5 Does the entity have an agreement with another government to provide services?
If yes: List the name of the other governmental entity and the services provided:
10-6
If yes: Date filed:
10-7
If yes:
Has the district filed a Title 32, Article 1 Special District Notice of Inactive Status during
the year? [Applicable to Title 32 special districts only, pursuant to Sections 32-1-103 (9.3)
and 32-1-104 (3), C.R.S.]
Does the entity have a certified mill levy?
Please provide the following mills levied for the year reported (do not report $ amounts):
Bond redemption mills
General/other mills
Yes
No
N/A
10-8 If the entity is a Title 32 Special District formed after 7/1/2000, has the entity
filed its preceding year annual report with the State Auditor as required
under SB 21-262 [Section 32-1-207 C.R.S.]? If NO, please explain.
Please use this space to provide any additional explanations or comments not previously included
10-3: The District was organized to provide construction, installation, financing and operation of public improvements, including water and
sanitary sewer.
5
Doc ID: 0d2ab776ff538adb6609f160881a913f4b8c1577
Docusign Envelope ID: D645F6C8-D3A5-4EDC-ADD4-B909A178CB45
PART 11 - GOVERNING BODY APPROVAL
Please answer the following question by marking in the appropriate box.
Yes
No
11-1 If you plan to submit this form electronically, have you read the Electronic Signature
Policy?
Office of the State Auditor — Local Government Division - Exemption
Form Electronic Signature Policy and Procedure
Policy - Requirements
The Office of the State Auditor Local Government Audit Division may accept an electronic submission of an application for
exemption from audit that includes governing board signatures obtained through a program such as Docusign or Echosign.
Required elements and safeguards are as follows:
• The preparer of the application is responsible for obtaining board signatures that comply with the requirement in Section 29-1-
604 (3), C.R.S., that states the application shall be personally reviewed, approved, and signed by a majority of the members of
the governing body.
• The application must be accompanied by the signature history document created by the electronic signature software. The
signature history document must show when the document was created and when the document was emailed to the various
parties, and include the dates the individual board members signed the document. The signature history must also show the
individuals' email addresses and IP address.
• Office of the State Auditor staff will not coordinate obtaining signatures.
The application for exemption from audit form created by our office includes a section for governing body approval.
Local governing boards note their approval and submit the application through one of the following two methods:
1) Submit the application in hard copy via the US Mail including original signatures.
2) Submit the application electronically via email and either,
a. Include a copy of an adopted resolution that documents formal approval by the Board, or
b. Include electronic signatures obtained through a software program such as Docusign or Echosign in accordance with the
requirements noted above.
6
Doc ID: 0d2ab776ff538adb6609f160881a913f4b8c1577
Docusign Envelope ID: D645F6C8-D3A5-4EDC-ADD4-B909A178CB45
Print or type the names of ALL members of current governing body below.
A MAJORITY of the members of the governing body must sign below.
Board
Member
1
Board
Member
2
Board
Member
3
Board
Member
4
Board
Member
5
Board
Member
6
Board
Member
7
Board Members Name:
I attest that I am a duly elected or appointed board member,
and that I have personally reviewed and approved this
application for exemption from audit.
My term expires: May 2025
Board Members Name:
I attest that I am a duly elected or appointed board member,
and that I have personally reviewed and approved this
application for exemption from audit.
My term expires: May 2025
Board Members Name:
I attest that I am a duly elected or appointed board member,
and that I have personally reviewed and approved this
application for exemption from audit.
Joel Farkas
F44444
Signature
Date
2/27/2025
Toni Serra
s Signature
2/27/2025
Date
Juliet Farkas
Signature 5223o26BEEeA62,
2/27/2025
My term expires: May 2025 Date
Board Members Name:
I attest that I am a duly elected or appointed board member,
and that I have personally reviewed and approved this
application for exemption from audit.
Elizabeth Farkas
'60)44 Fps
Signature ,_
3/1/2025
My term expires: May 2025 Date
Board Members Name:
I attest that I am a duly elected or appointed board member,
and that I have personally reviewed and approved this
application for exemption from audit.
Signature
My term expires: Date
Board Members Name:
I attest that I am a duly elected or appointed board member,
and that I have personally reviewed and approved this
application for exemption from audit.
Signature
My term expires: Date
Board Members Name:
I attest that I am a duly elected or appointed board member,
and that I have personally reviewed and approved this
application for exemption from audit.
Signature
My term expires: Date
7
Doc ID: 0d2ab776ff538adb6609f160881a913f4b8c1577
Docusign Envelope ID: D645F6C8-D3A5-4EDC-ADD4-B909A178CB45
6
CliftonLarsonAllen LLP
8390 East Crescent Parkway, Suite 300
Greenwood Village, CO 80111
phone 303-779-5710 fax 303-779-0348
claconnect.com
Accountant's Compilation Report
Board of Directors
Resource Colorado Water and Sanitation Metropolitan District
Greenwood Village County, Colorado
Management is responsible for the accompanying Application for Exemption from Audit of
Resource Colorado Water and Sanitation Metropolitan District as of and for the year ended
December 31, 2024, included in the accompanying prescribed form. We have performed a
compilation engagement in accordance with Statements on Standards for Accounting and Review
Services promulgated by the Accounting and Review Services Committee of the American
Institute of Certified Public Accountants. We did not audit or review the financial statements
included in the accompanying prescribed form nor were we required to perform any procedures
to verify the accuracy or completeness of the information provided by management. Accordingly,
we do not express an opinion, a conclusion, nor provide any form of assurance on the financial
statements included in the accompanying prescribed form.
The Application for Exemption from Audit is presented in accordance with the requirements of the
Colorado Office of the State Auditor, which differ from accounting principles generally accepted
in the United States of America.
This report is intended solely for the information and use of the Colorado Office of the State
Auditor and is not intended to be and should not be used by anyone other than this specified
party.
We are not independent with respect to Resource Colorado Water and Sanitation Metropolitan
District.
egi& -4: Y,,,, .,,, , , , of, , ,„, ,,p
Greenwood Village, Colorado
February 19, 2025
Doc ID: 0d2ab776ff538adb6609f160881a913f4b8c1577
0 docusign.
Certificate Of Completion
Envelope Id: D645F6C8-D3A5-4EDC-ADD4-B909A178CB45
Subject: Complete with Docusign: Resource CO Water & Santitation Short Form 2024 2-27-25.pdf
Client Name: Resource Colorado Water & Sanitation District
Client Number: A517326
Source Envelope:
Document Pages: 8 Signatures: 4
Certificate Pages: 5 Initials: 0
AutoNav: Enabled
Envelopeld Stamping: Enabled
Time Zone: (UTC-06:00) Central Time (US & Canada)
Record Tracking
Status: Original
2/27/2025 1:59:57 PM
Signer Events
Elizabeth Farkas
elizabethpfarkas@gmail.com
Security Level: Email, Account Authentication
(None)
Electronic Record and Signature Disclosure:
Accepted: 3/1/2025 9:16:50 AM
ID:dcefa3f9-3c29-4fa9-923d-26314df82dca
Joel Farkas
joelhfarkas@gmail.com
Manager
Security Level: Email, Account Authentication
(None)
Electronic Record and Signature Disclosure:
Accepted: 2/27/2025 2:23:54 PM
ID:8a937cc1-295d-4445-9c9c-9ad61d960f5e
JULIET FARKAS
jjoellefarkas@gmail.com
Security Level: Email, Account Authentication
(None)
Electronic Record and Signature Disclosure:
Accepted: 2/27/2025 3:50:58 PM
ID:2814abf0-af30-4fe0-ab22-8b9f788de174
Toni Serra
toni@garnow.com
Director
Security Level: Email, Account Authentication
(None)
Electronic Record and Signature Disclosure:
Status: Completed
Envelope Originator:
Porter Tirrill
220 S 6th St Ste 300
Minneapolis, MN 55402-1418
Porter.Tirrill@claconnect.com
IP Address: 207.200.223.146
Holder: Porter Tirrill Location: DocuSign
Porter.Tirrill@claconnect.com
Signature
c —Signed by:
L(d'jaaot,{✓A, FS
'-8B13098467BC4F1...
Signature Adoption: Pre -selected Style
Using IP Address: 212.205.72.215
c—Docusignea by:
Jolt f.
'-6C67CF5CE2A7459...
Signature Adoption: Pre -selected Style
Using IP Address: 174.211.100.116
Signed using mobile
L�o��s�eaby:
'-5223D246EE6A427...
Signature Adoption: Drawn on Device
Using IP Address: 174.211.163.170
Signed using mobile
—DDocusignea by:
Cryn
'-909489B2D9E14B5...
Signature Adoption: Drawn on Device
Using IP Address: 97.118.80.14
Timestamp
Sent: 2/27/2025 2:05:08 PM
Viewed: 2/27/2025 2:16:48 PM
Signed: 3/1/2025 9:17:23 AM
Sent: 2/27/2025 2:05:09 PM
Viewed: 2/27/2025 2:23:54 PM
Signed: 2/27/2025 2:24:05 PM
Sent: 2/27/2025 2:05:10 PM
Viewed: 2/27/2025 3:50:58 PM
Signed: 2/27/2025 3:51:08 PM
Sent: 2/27/2025 2:05:09 PM
Viewed: 2/27/2025 2:06:51 PM
Signed: 2/27/2025 2:07:01 PM
Doc ID: 0d2ab776ff538adb6609f160881a913f4b8c1577
Signer Events
Accepted: 2/27/2025 2:06:51 PM
ID:9fa44794-a8d1-47c5-8427-e9d7c31ff8fd
In Person Signer Events
Editor Delivery Events
Agent Delivery Events
Intermediary Delivery Events
Certified Delivery Events
Carbon Copy Events
Witness Events
Notary Events
Envelope Summary Events
Envelope Sent
Certified Delivered
Signing Complete
Completed
Payment Events
Signature
Signature
Status
Status
Status
Status
Status
Signature
Signature
Status
Hashed/Encrypted
Security Checked
Security Checked
Security Checked
Status
Electronic Record and Signature Disclosure
Timestamp
Timestamp
Timestamp
Timestamp
Timestamp
Timestamp
Timestamp
Timestamp
Timestamp
Timestamps
2/27/2025 2:05:10 PM
2/27/2025 2:06:51 PM
2/27/2025 2:07:01 PM
3/1/2025 9:17:23 AM
Timestamps
Doc ID: 0d2ab776ff538adb6609f160881a913f4b8c1577
EXHIBIT C
Summary of Debt and Debt Authorization
To: Weld County, CO
From: McGeady Becher P.C.
Date: August 1, 2025
Re: Resource Colorado Water and Sanitation Metropolitan District
Election Authorization as of 12/31/23
Principal
Amount of
Authorized Debt
Principal
Amount of
Authorization
Used
Principal
Amount of
Authorization
Remaining
Purpose - Improvements
5A
Streets
$324,000,000.00
$0.00
$324,000,000.00
5B
Water Supply System
$324,000,000.00
$0.00
$324,000,000.00
5C
Sanitary Sewer System
$324,000,000.00
$0.00
$324,000,000.00
5D
Mosquito Control
$324,000,000.00
$0.00
$324,000,000.00
Improvements Total
$1,296,000,000.00
$0.00
$1,296,000,000.00
Purpose - Other
Authorizations
5E
Refunding of District debt or
other obligations
$324,000,000.00
$0.00
$324,000,000.00
5F
IGAs that are MFY
obligations; payable from
unlimited ad valorem
property tax levy
$324,000,000.00
$0.00
$324,000,000.00
5G
Operating Expenses and
Reimbursement of Operating
Advances to the District
$50,000,000.00
$0.00
$50,000,000.00
5H
IGAs that are MFY
obligations; payable from
unlimited ad valorem
property tax levy
$324,000,000.00
$0.00
$324,000,000.00
51
IGAs for Regional
Improvements that are MFY
obligations
Allowed
5J
Authority to Collect/Spend
Facilities Fees, charges, tap
fees
Allowed
Note: IGA = Intergovernmental Agreement. MFY = Multiple Fiscal Year
Debt: All authorized debt is in the form of revenue bonds or other obligations of the District including but
not limited to contracts, leases and other agreements, except as otherwise noted.
Date of Last Debt Election: May 6, 2014
C-1
Doc ID: 0d2ab776ff538adb6609f160881a913f4b8c1577
EXHIBIT D
Intergovernmental Agreements
Intergovernmental Agreement with the Lost Creek Ground Water Management District (07/10/05);
describes the agreement for funding a USGS study and the sharing of the information derived from the
study. A copy of this agreement previously provided with the 2006 Annual Report.
Agreement with the Town of Keenesburg ("Town") (4/25/06); sets forth the terms and conditions of the
purchase of the water right associated with Well Permit No. 31652 -FP by the Town from the District. A
copy of this agreement previously provided with the 2006 Annual Report.
Assignment (7/26/06); assigns all right, title and interest to the water right associated with Well Permit
No. 31652 -FP to the Town by the District. A copy of this agreement previously provided with the 2006
Annual Report.
Easement Deed (7/26/06); grants an easement to the Town for access to the Tank Site. A copy of this
agreement previously provided with the 2006 Annual Report.
Agreement (7/26/06); sets forth the terms and conditions regarding certain specified obligations regarding
the decrees and stipulations related to the water right associated with Well Permit No. 31652 -FP. A copy
of this agreement previously provided with the 2006 Annual Report.
Agreement (7/26/06); defines the terms and conditions for the District to use and reuse the water right
associated with Well Permit No. 31652 -FP, subject to a certain reservation. A copy of this agreement
previously provided with the 2006 Annual Report.
Letter of Agreement (12/7/06); sets forth the understanding of the Town and the District with regard to
the well water transmission line being installed by the Town from Well No. 31652 -FP to the Town's
water system and a proposed water storage tank site. (All rights associated with paragraph 4 of the
agreement assigned to Pioneer Regional Water Activity Enterprise.) A copy of this agreement previously
provided with the 2010 Annual Report.
Intergovernmental Agreement (dated 6/22/07, effective 7/11/07); sets forth the obligations of the Town
and the District with regard to the funding of a feasibility study regarding the joint use of the Keenesburg
facility to provide service to Pioneer Regional Metropolitan District and Pioneer Metropolitan District
Nos. 1-6 to serve Pioneer Communities Phase I. A copy of this agreement previously provided with the
2010 Annual Report.
Water and Wastewater Service Agreement (dated October 23, 2020) by and between the District, the
CAB and Pioneer Metropolitan District No. 3 (the "Water and Wastewater Service Agreement"); applies
to water and wastewater service to Planning Areas 1 through 21 until development progresses in other
areas within the Property, the CAB causes a related Rate Study to be prepared, and the Parties resolve to
impose or adjust any or all of the Fees and Charges on such areas, at which time the Parties expect to
modify this Agreement. Under this Agreement, the Parties anticipate that once certain of the Pioneer
Improvements are complete and any other applicable conditions are fulfilled, the CAB will convey the
Wholesale Wastewater Facilities to Resource, who will later convey any or all of such facilities to the
Town, or the CAB will convey such facilities, certain water rights, and other Pioneer Improvements to the
Town directly, pursuant to the Town IGA. The CAB will retain any Pioneer Improvements not conveyed
to Resource, the Town, or another public entity or owner's association. Before the first Customer
connection to the Water and Wastewater Facilities is made, the CAB agrees to adopt the CAB Rules and
D-1
Doc ID: 0d2ab776ff538adb6609f160881a913f4b8c1577
Regulations, which will incorporate the Resource Rules and Regulations, and to abide by the same in its
delivery of water and wastewater service to its Customers. Under this Agreement, the CAB will provide
water delivery to the Pioneer Improvements (as defined therein) through a master metering arrangement
and Resource engages the CAB, and the CAB agrees, to treat wholesale wastewater deliveries from the
Pioneer Improvements at the Wholesale Wastewater Facilities (as defined therein).
D-2
4902-4109-7822, v. 1
Doc ID: 0d2ab776ff538adb6609f160881a913f4b8c1577
Dropbox sign Audit trail
Title
File name
Document ID
Audit trail date format
Status
Document History
cr_i>
SENT
VIEWED
SIGNED
VIEWED
SIGNED
COMPLETED
08 / 12 / 2025
21:18:19 UTC
08 / 12 / 2025
21:20:21 UTC
08 / 12 / 2025
21:20:36 UTC
08 / 12 / 2025
21:26:47 UTC
08 / 12 / 2025
21:27:03 UTC
08 / 12 / 2025
21:27:03 UTC
Powered by X Dropbox
Resource Colorado W&S MD - 2024 SWAB Report
2024_SWAB_Report_...lorado_W S_MD.pdf
0d2ab776ff538adb6609f160881 a913f4b8c1577
MM / DD / YYYY
• Signed
Sent for signature to Joel H. Farkas (joelhfarkas@gmail.com)
and Lisa A. Jacoby (Ijacoby@specialdistrictlaw.com) from
Ijacoby@specialdistrictlaw.com
IP: 50.220.120.106
Viewed by Lisa A. Jacoby (Ijacoby@specialdistrictlaw.com)
IP: 154.90.218.19
Signed by Lisa A. Jacoby (Ijacoby@specialdistrictlaw.com)
IP: 50.220.120.106
Viewed by Joel H. Farkas (joelhfarkas@gmail.com)
IP: 174.236.100.223
Signed by Joel H. Farkas (joelhfarkas@gmail.com)
IP: 174.236.100.223
The document has been completed.
ANNUAL INFORMATION REPORT
FOR THE YEAR 2024
RESOURCE COLORADO WATER AND SANITATION METROPOLITAN DISTRICT
As required by Section 32-1-207(3)(c), C.R.S. and Section VIII of the Service Plan for Resource
Colorado Water and Sanitation Metropolitan District, approved by Weld County, Colorado on
August 25, 2004, the District hereby presents the following report of the District's activities from
January 1, 2024 to December 31, 2024:
A. Changes in the District's taxing boundary or Service Area boundary / boundary
changes made: The following boundary changes were made or proposed during 2024:
• Order for Inclusion of approximately 0.571 acres issued on September 26, 2024
and recorded in the Weld County land records on October 4, 2024 at Reception
No. 4986458.
B. Intergovernmental Agreements entered into or terminated:
• Amended and Restated Annexation and vested Property Rights Agreement
(Pioneer Annexation Nos. 1-11) dated April 15, 2024, by and between the Town
of Keenesburg, Pioneer Holdco, LLC, Resource Colorado Water and Sanitation
Metropolitan District, Pioneer Metropolitan District No. 3 and the Pioneer
Community Authority Board.
C. Changes in the District's rules and regulations, and access information to obtain a
copy of rules and regulations adopted: There were no changes to the District's rules
and regulations in 2024.
Adopted rules and regulations may be accessed at the offices of McGeady Becher
Cortese Williams, P.C. 450 E. 17th Avenue, Suite 400, Denver, CO 80203, 303-592-4380,
or on the District's website: https://pioneermetropolitandistricts.specialdistrict.org/.
D. Summary of any litigation which involves the District / District's public
improvements: Neither the District nor its public improvements were involved in any
litigation in 2024.
E. Status of District's construction of public improvements: The District did not
construct any improvements in 2024.
F. Annual audited financial statements of the District or appropriate exemptions from
audit for the reporting year (or application for exemption from audit): The District
is currently exempt from audit, pursuant to Section 29-1-604, C.R.S. A copy of the 2024
Application for Exemption from Audit is attached hereto as Exhibit A.
G. Summary of total debt authorized, issued and outstanding: See attached summary as
Exhibit B.
1
The following information required by Section 32-1-207(3)(c)(II), C.R.S. (and not already
disclosed above) is also provided.
H. Conveyances or dedications of facilities or improvements, constructed by the
District, to the Weld County: The District did not convey or dedicate any improvements
in 2024.
I. Final assessed valuation of the District for the report year: $5,970.
J. Current year's budget: A copy of the District's 2025 budget is attached hereto as
Exhibit C.
K. Notice of any uncured events of default by the District, which continue beyond a
ninety (90) day period, under any debt instrument: To our knowledge, there are no
uncured events of default by the District which continue beyond a ninety (90) day period.
L. Any inability of the District to pay its obligations as they come due, in accordance
with the terms of such obligations, which continues beyond a ninety (90) day period:
To our knowledge, the District has been able to pay its obligations as they come due.
2
4931-1753-9422, v. 1
EXHIBIT A
Application for Exemption from Audit
A-1
Docusign Envelope ID: D645F6C8-D3A5-4EDC-ADD4-B909A178CB45
APPLICATION FOR EXEMPTION FROM AUDIT
SHORT FORM
NAME OF GOVERNMENT
ADDRESS
CONTACT PERSON
PHONE
EMAIL
Resource Colorado Water and Sanitation Metropolitan District
8390 East Crescent Parkway
Suite 300
Greenwood Village, CO 80111-2814
Paul Wilson
303-779-5710
paul.wilson@claconnect.com
For the Year Ended
12/31/24
or fiscal year ended:
PART 1 - CERTIFICATION OF PREPARER
I certify that I am skilled in
my knowledge.
NAME:
TITLE
FIRM NAME (if applicable)
ADDRESS
PHONE
governmental accounting and that the information in the application is complete and accurate, to the best of
Paul Wilson
Accountant for the District
CliftonLarsonAllen LLP
8390 East Crescent Parkway, Suite 300, Greenwood Village, CO 80111-2814
303-779-5710
PREPARER (SIGNATURE REQUIRED)
DATE PREPARED
(No exemption shall be granted prior to the
close of said fiscal year)
SEE ATTACHED ACCOUNTANT'S COMPILATION REPORT
2/25/2025
Please indicate whether the following financial information is recorded
using Governmental or Proprietary fund types
GOVERNMENTAL
(MODIFIED ACCRUAL BASIS)
PROPRIETARY
(CASH OR BUDGETARY BASIS)
O
Docusign Envelope ID: D645F6C8-D3A5-4EDC-ADD4-B909A178CB45
Line #
2-1 Taxes: Property (report mills levied in question 10-7)
2-2 Specific ownership
2-3 Sales and use
2-4 Other (specify):
2-5 Licenses and permits
2-6 Intergovernmental:
2-7
2-8
2-9
2-10 Charges for services
2-11 Fines and forfeits
2-12 Special assessments
2-13 Investment income
2-14 Charges for utility services
2-15 Debt proceeds (should agree to table 4-4, column 'Issued during year')
2-16 Lease proceeds
2-17 Developer Advances received (should agree to table 4-4, column 'Issued during year')
2-18 Proceeds from sale of capital assets
2-19 Fire and police pension
2-20 Donations
2-21 Other (specify):
2-22
2-23
2-24
2-25
2-26
Line #
3-1 Administrative
3-2 Salaries
3-3 Payroll taxes
3-4 Contract services
3-5 Employee benefits
3-6 Insurance
3-7 Accounting and legal fees
3-8 Repair and maintenance
3-9 Supplies
3-10 Utilities and telephone
3-11 Fire/Police
3-12 Streets and highways
3-13 Public health
3-14 Capital outlay
3-15 Utility operations
3-16 Culture and recreation
3-17 Debt service principal (should agree to table 4-4, column' Retired during year')
3-18 Debt service interest
3-19 Repayment of Developer Advance (should agree to table 4-4,
Principal column' Retired during year')
3-20 Repayment of Developer Advance Interest
3-21 Contribution to pension plan
3-22 Contribution to Fire & Police Pension Assoc.
3-23 Other (specify):
3-24
3-25
3-26
3-27
3-28
PART 2 - REVENUES
All revenues for all funds must be reflected in this section, including proceeds from the sale of the government's land, building, and
equipment, and proceeds from debt or lease transactions. Financial information will not include fund equity informalon.
Description Round to the nearest dollar Please use this
space to provide
any necessary
explanations
$
$
$
Grants $
Conservation Trust Funds (Lottery)
Highway Users Tax Funds (HUTF) $
Other (specify):
(add lines 2-1 through 2-25) TOTAL REVENUES $
PART 3 - EXPENDITURES/EXPENSES
All expenditures for all funds must be reflected in this section, including the purchase of capital assets and principal and interest
payments on long-term debt. Financial information will not include fund equity information.
Description
Round to the nearest dollar
$
$
$
Please use this
space to provide
any necessary
explanations
(add lines 3-1 through 3-27) TOTAL EXPENDITURES/EXPENSES $
If TOTAL REVENUES (Line 2-26) or TOTAL EXPENDITURES (Line 3-28) are GREATER than $100,000 - STOP.
You may not use this form. Please use the "Application for Exemption from Audit - LONG FORM".
Docusign Envelope ID: D645F6C8-D3A5-4EDC-ADD4-B909A178CB45
PART 4 - DEBT OUTSTANDING, ISSUED, AND RETIRED
Please answer the following questions by marking the appropriate boxes.
Yes No
4-1 Does the entity have outstanding debt?
(If 'No' is checked, skip to question 4-5)
(If 'Yes' is checked, please attach a copy of the entity's debt repayment schedule)
4-2 Is the debt repayment schedule attached? If no, MUST explain below:
The District's debt consists of developer advances, which are not general obligation debt.
Repayment is subject to annual appropriation if funds become available.
4-3 Is the entity current in its debt service payments? If no, MUST explain below:
4-4
N/A
Please complete the following debt schedule, if applicable:
(please only include principal amounts)
(enter all amounts as positive numbers)
General obligation bonds
Revenue bonds
Notes/Loans
Lease & SBITA** Liabilities [GASB 87 & 96]
Developer Advances
Other (specify):
TOTAL
**Subscription -Based Information Technology Arrangements
Outstanding at
end of prior year
Issued during
year
Retired during
year
Outstanding at
year-end
$ -
$ -
$ -
$ -
$ -
$ -
$ -
$ -
$ -
$ -
$ -
$ -
$ -
$ -
$ -
$ -
$ 135,054
$ -
$ -
$ 135,054
$ -
$ -
$ -
$ -
$ 135,054
$ -
$ -
$ 135,054
*Must agree to prior year-end balance
Please answer the following questions by marking the appropriate boxes.
Yes
No
4-5 Does the entity have any authorized but unissued debt as of its fiscal year-end?
How much?
Date the debt was authorized:
2,318,000,000.00
11/2/2004
NEW 4-6 Is the authorized but unissued debt further limited by the entity's most recent Service
Plan?
If yes: How much?
Date of the most recent Service Plan:
4-7
If yes: How much?
4-8
If yes: What is the amount outstanding?
4-9 Does the entity have any lease agreements?
If yes: What is being leased?
What is the original date of the lease?
Number of years of lease?
Is the lease subject to annual appropriation?
What are the annual lease payments?
324,000,000.00
8/25/2024
Does the entity intend to issue debt within the next calendar year?
Does the entity have debt that has been refinanced that it is still responsible for?
Part 4 - Please use this space to provide any explanations/comments or attach separate documentation, if needed
PART 5 - CASH AND INVESTMENTS
Please provide the entity's cash deposit and investment balances.
5-1 YEAR-END Total of ALL Checking and Savings Accounts
5-2 Certificates of deposit
5-3
TOTAL CASH DEPOSITS
Investments (if investment is a mutual fund, please list underlying investments):
Amount Total
TOTAL INVESTMENTS
TOTAL CASH AND INVESTMENTS
Please answer the following questions by marking in the appropriate boxes.
Yes
No
N/A
5-4 Are the entity's investments legal in accordance with Section 24-75-601, et.
seq., C.R.S.?
5-5 Are the entity's deposits in an eligible (Public Deposit Protection Act) public
depository (Section 11-10.5-101, et seq. C.R.S.)?
Part 5 - If no, MUST use this space to provide any explanations
Docusign Envelope ID: D645F6C8-D3A5-4EDC-ADD4-B909A178CB45
PART 6 - CAPITAL AND RIGHT -TO -USE ASSETS
Please answer the following questions by marking in the appropriate boxes.
Yes No
6-1 Does the entity have capital assets?
(If 'No' is checked, skip the rest of Part 6)
6-2 Has the entity performed an annual inventory of capital assets in accordance with Section
29-1-506, C.R.S.,? If no, MUST explain:
6-3
The District has no capital assets.
Complete the following capital & right -to -use assets table:
Land
Buildings
Machinery and equipment
Furniture and fixtures
Infrastructure
Construction In Progress (CIP)
Leased & SBITA Right -to -Use Assets
Other (explain):
Accumulated Depreciation/Amortization
(Please enter a negative, or credit, balance)
TOTAL
Balance -
beginning of the
year
Additions
Deletions
Year -End
Balance
$ -
$ -
$ -
$ -
$ -
$ -
$ -
$ -
$ -
$ -
$ -
$ -
$ -
$ -
$ -
$ -
$ 87,204
$ -
$ -
$ 87,204
$ -
$ -
$ -
$ -
$ -
$ -
$ -
$ -
$ -
$ -
$ -
$ -
$ -
$ -
$ -
$ -
$ 87,204
$ -
$ -
$ 87,204
*Must agree to prior year-end balance
^Generally capital asset additions should be reported as capital outlay on line
3-14 and capitalized in accordance with the government's capitalization
policy. Please explain any discrepancy
Part 6 - Please use this space to provide any explanations/comments or attach documentation, if needed
PART 7 - PENSION INFORMATION
Please answer the following questions by marking in the appropriate boxes.
Yes No
7-1 Does the entity have an "old hire" firefighters' pension plan?
7-2 Does the entity have a volunteer firefighters' pension plan?
If yes: Who administers the plan?
Indicate the contributions from:
Tax (property, SO, sales, etc.):
State contribution amount:
Other (gifts, donations, etc.):
TOTAL
What is the monthly benefit paid for 20 years of service per retiree as of Jan
1?
Part 7 - Please use this space to provide any explanations or comments
PART 8 - BUDGET INFORMATION
Please answer the following questions by marking in the appropriate boxes. Yes No N/A
8-1 Did the entity file a budget with the Department of Local Affairs for the
current year in accordance with Section 29-1-113 C.R.S.?
If no, MUST explain:
8-2 Did the entity pass an appropriations resolution, in accordance with Section
29-1-108 C.R.S.? If no, MUST explain:
o ❑ ❑
If yes: Please indicate the amount appropriated for each fund separately for the year reported
(Please make sure each individual fund's appropriation agrees to how the budget was adopted.
Do not combine funds)
Governmental/Proprietary Fund Name
General Fund
Total Appropriations By Fund
$0.00
Docusign Envelope ID: D645F6C8-D3A5-4EDC-ADD4-B909A178CB45
PART 9 - TAXPAYER'S BILL OF RIGHTS (TABOR)
Please answer the following question by marking in the appropriate box. Yes
No
9-1
Is the entity in compliance with all the provisions of TABOR [State Constitution, Article X,
Section 20(5)]?
Note: An election to exempt the entity from the spending limitations of TABOR does not exempt the entity
from the 3 percent emergency reserve requirement. All entities should determine if they meet this
requirement of TABOR.
Part 9 - If no, MUST use this space to provide any explanations
PART 10 - GENERAL INFORMATION
Please answer the following questions by marking in the appropriate boxes.
Yes No
10-1
If yes:
Is this application for a newly formed governmental entity?
Date of formation:
10-2 Has the entity changed its name in the past or current year?
If yes: Please list the NEW name:
Please list the PRIOR name:
10-3 Is the entity a metropolitan district?
10-4 Please indicate what services the entity provides:
10-5 Does the entity have an agreement with another government to provide services?
If yes: List the name of the other governmental entity and the services provided:
10-6
If yes: Date filed:
10-7
If yes:
Has the district filed a Title 32, Article 1 Special District Notice of Inactive Status during
the year? [Applicable to Title 32 special districts only, pursuant to Sections 32-1-103 (9.3)
and 32-1-104 (3), C.R.S.]
Does the entity have a certified mill levy?
Please provide the following mills levied for the year reported (do not report $ amounts):
Bond redemption mills
General/other mills
Yes
No
N/A
10-8 If the entity is a Title 32 Special District formed after 7/1/2000, has the entity
filed its preceding year annual report with the State Auditor as required
under SB 21-262 [Section 32-1-207 C.R.S.]? If NO, please explain.
Please use this space to provide any additional explanations or comments not previously included
10-3: The District was organized to provide construction, installation, financing and operation of public improvements, including water and
sanitary sewer.
Docusign Envelope ID: D645F6C8-D3A5-4EDC-ADD4-B909A178CB45
PART 11 - GOVERNING BODY APPROVAL
Please answer the following question by marking in the appropriate box.
Yes
No
11-1 If you plan to submit this form electronically, have you read the Electronic Signature
Policy?
Office of the State Auditor — Local Government Division - Exemption
Form Electronic Signature Policy and Procedure
Policy - Requirements
The Office of the State Auditor Local Government Audit Division may accept an electronic submission of an application for
exemption from audit that includes governing board signatures obtained through a program such as Docusign or Echosign.
Required elements and safeguards are as follows:
• The preparer of the application is responsible for obtaining board signatures that comply with the requirement in Section 29-1-
604 (3), C.R.S., that states the application shall be personally reviewed, approved, and signed by a majority of the members of
the governing body.
• The application must be accompanied by the signature history document created by the electronic signature software. The
signature history document must show when the document was created and when the document was emailed to the various
parties, and include the dates the individual board members signed the document. The signature history must also show the
individuals' email addresses and IP address.
• Office of the State Auditor staff will not coordinate obtaining signatures.
The application for exemption from audit form created by our office includes a section for governing body approval.
Local governing boards note their approval and submit the application through one of the following two methods:
1) Submit the application in hard copy via the US Mail including original signatures.
2) Submit the application electronically via email and either,
a. Include a copy of an adopted resolution that documents formal approval by the Board, or
b. Include electronic signatures obtained through a software program such as Docusign or Echosign in accordance with the
requirements noted above.
Docusign Envelope ID: D645F6C8-D3A5-4EDC-ADD4-B909A178CB45
Print or type the names of ALL members of current governing body below.
A MAJORITY of the members of the governing body must sign below.
Board
Member
7
Board
Member
2
Board
Member
3
Board
Member
4
Board
Member
5
Board
Member
6
Board
Member
7
Board Members Name:
I attest that I am a duly elected or appointed board member,
and that I have personally reviewed and approved this
application for exemption from audit.
My term expires: May 2025
Board Members Name:
I attest that I am a duly elected or appointed board member,
and that I have personally reviewed and approved this
application for exemption from audit.
My term expires: May 2025
Board Members Name:
I attest that I am a duly elected or appointed board member,
and that I have personally reviewed and approved this
application for exemption from audit.
Joel Farkas
F44444
Signature
Date
2/27/2025
Toni Serra
s Signature
2/27/2025
Date
Juliet Farkas
Signature 5223o26BEEeA62,
2/27/2025
My term expires: May 2025 Date
Board Members Name:
I attest that I am a duly elected or appointed board member,
and that I have personally reviewed and approved this
application for exemption from audit.
Elizabeth Farkas
'60)44 Fps
Signature ,_
3/1/2025
My term expires: May 2025 Date
Board Members Name:
I attest that I am a duly elected or appointed board member,
and that I have personally reviewed and approved this
application for exemption from audit.
Signature
My term expires: Date
Board Members Name:
I attest that I am a duly elected or appointed board member,
and that I have personally reviewed and approved this
application for exemption from audit.
Signature
My term expires: Date
Board Members Name:
I attest that I am a duly elected or appointed board member,
and that I have personally reviewed and approved this
application for exemption from audit.
Signature
My term expires: Date
Docusign Envelope ID: D645F6C8-D3A5-4EDC-ADD4-B909A178CB45
6
CliftonLarsonAllen LLP
8390 East Crescent Parkway, Suite 300
Greenwood Village, CO 80111
phone 303-779-5710 fax 303-779-0348
claconnect.com
Accountant's Compilation Report
Board of Directors
Resource Colorado Water and Sanitation Metropolitan District
Greenwood Village County, Colorado
Management is responsible for the accompanying Application for Exemption from Audit of
Resource Colorado Water and Sanitation Metropolitan District as of and for the year ended
December 31, 2024, included in the accompanying prescribed form. We have performed a
compilation engagement in accordance with Statements on Standards for Accounting and Review
Services promulgated by the Accounting and Review Services Committee of the American
Institute of Certified Public Accountants. We did not audit or review the financial statements
included in the accompanying prescribed form nor were we required to perform any procedures
to verify the accuracy or completeness of the information provided by management. Accordingly,
we do not express an opinion, a conclusion, nor provide any form of assurance on the financial
statements included in the accompanying prescribed form.
The Application for Exemption from Audit is presented in accordance with the requirements of the
Colorado Office of the State Auditor, which differ from accounting principles generally accepted
in the United States of America.
This report is intended solely for the information and use of the Colorado Office of the State
Auditor and is not intended to be and should not be used by anyone other than this specified
party.
We are not independent with respect to Resource Colorado Water and Sanitation Metropolitan
District.
egi& -4: Y,,,, .,,, , , , of, , ,„, ,,p
Greenwood Village, Colorado
February 19, 2025
0 docusign.
Certificate Of Completion
Envelope Id: D645F6C8-D3A5-4EDC-ADD4-B909A178CB45
Subject: Complete with Docusign: Resource CO Water & Santitation Short Form 2024 2-27-25.pdf
Client Name: Resource Colorado Water & Sanitation District
Client Number: A517326
Source Envelope:
Document Pages: 8 Signatures: 4
Certificate Pages: 5 Initials: 0
AutoNav: Enabled
Envelopeld Stamping: Enabled
Time Zone: (UTC-06:00) Central Time (US & Canada)
Record Tracking
Status: Original
2/27/2025 1:59:57 PM
Signer Events
Elizabeth Farkas
elizabethpfarkas@gmail.com
Security Level: Email, Account Authentication
(None)
Electronic Record and Signature Disclosure:
Accepted: 3/1/2025 9:16:50 AM
ID:dcefa3f9-3c29-4fa9-923d-26314df82dca
Joel Farkas
joelhfarkas@gmail.com
Manager
Security Level: Email, Account Authentication
(None)
Electronic Record and Signature Disclosure:
Accepted: 2/27/2025 2:23:54 PM
ID:8a937cc1-295d-4445-9c9c-9ad61d960f5e
JULIET FARKAS
jjoellefarkas@gmail.com
Security Level: Email, Account Authentication
(None)
Electronic Record and Signature Disclosure:
Accepted: 2/27/2025 3:50:58 PM
ID:2814abf0-af30-4fe0-ab22-8b9f788de174
Toni Serra
toni@garnow.com
Director
Security Level: Email, Account Authentication
(None)
Electronic Record and Signature Disclosure:
Holder: Porter Tirrill
Porter.Tirrill@claconnect.com
Signature
r --Signed by:
'EU/ jaaot,{✓A, Fariats
'-8B13098467BC4F1...
Signature Adoption: Pre -selected Style
Using IP Address: 212.205.72.215
c—Docusigned by:
Jolt f.
'-6C67CF5CE2A7459...
Signature Adoption: Pre -selected Style
Using IP Address: 174.211.100.116
Signed using mobile
f—DocuSi
LI
'-5223D246EE6A427...
ned by:
Signature Adoption: Drawn on Device
Using IP Address: 174.211.163.170
Signed using mobile
—DDocusigned by:
Cryn
'-909489B2D9E14B5...
Signature Adoption: Drawn on Device
Using IP Address: 97.118.80.14
Status: Completed
Envelope Originator:
Porter Tirrill
220 S 6th St Ste 300
Minneapolis, MN 55402-1418
Porter.Tirrill@claconnect.com
IP Address: 207.200.223.146
Location: DocuSign
Timestamp
Sent: 2/27/2025 2:05:08 PM
Viewed: 2/27/2025 2:16:48 PM
Signed: 3/1/2025 9:17:23 AM
Sent: 2/27/2025 2:05:09 PM
Viewed: 2/27/2025 2:23:54 PM
Signed: 2/27/2025 2:24:05 PM
Sent: 2/27/2025 2:05:10 PM
Viewed: 2/27/2025 3:50:58 PM
Signed: 2/27/2025 3:51:08 PM
Sent: 2/27/2025 2:05:09 PM
Viewed: 2/27/2025 2:06:51 PM
Signed: 2/27/2025 2:07:01 PM
EXHIBIT C
Budget
C-1
4931-1753-9422, v. 1
RESOLUTION NO. 2024-11-02
RESOLUTION TO ADOPT BUDGET AND APPROPRIATE SUMS OF MONEY
RESOLUTION OF THE BOARD OF DIRECTORS OF RESOURCE COLORADO
WATER AND SANITATION METROPOLITAN DISTRICT, WELD COUNTY,
COLORADO, PURSUANT TO SECTION 29-1-108, C.R.S., SUMMARIZING
EXPENDITURES AND REVENUES FOR EACH FUND, ADOPTING A BUDGET AND
APPROPRIATING SUMS OF MONEY FOR THE BUDGET YEAR 2025
A. The Board of Directors of Resource Colorado Water and Sanitation Metropolitan
District (the "District") has appointed CliftonLarsonAllen LLP to prepare and submit a proposed
budget to said governing body at the proper time.
B. CliftonLarsonAllen LLP has submitted a proposed budget to this governing body
by October 15, 2024 for its consideration.
C. Upon due and proper notice, published or posted in accordance with the law, said
proposed budget was open for inspection by the public at a designated place, a public hearing
was held on November 18, 2024, and interested taxpayers were given the opportunity to file or
register any objections to said proposed budget.
D. The budget has been prepared to comply with all terms, limitations and
exemptions, including, but not limited to, reserve transfers and expenditure exemptions, under
Article X, Section 20 of the Colorado Constitution ("TABOR") and other laws or obligations
which are applicable to or binding upon the District.
E. 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.
F. The Board of Directors has made provision therein for revenues in an amount
equal to or greater than the total proposed expenditures as set forth in said budget.
G. It is not only required by law, but also necessary to appropriate the revenues
provided in the budget to and for the purposes described below, thereby establishing a limitation
on expenditures for the operations of the District.
NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF DIRECTORS OF
RESOURCE COLORADO WATER AND SANITATION METROPOLITAN DISTRICT,
WELD COUNTY, COLORADO:
1. The budget, as submitted, amended, and summarized by fund, is hereby approved
and adopted as the budget of the District for the year stated above.
2. The budget is hereby approved and adopted, shall be certified by the Secretary of
the District to all appropriate agencies and is made a part of the public records of the District.
{01117916.Docx v:1}
Doc ID:584a0e16497c75afe2dc0045f1d56968aaa52937
3. The sums set forth as the total expenditures of each fund in the budget attached
hereto as Exhibit A and incorporated herein by reference are hereby appropriated from the
revenues of each fund, within each fund, for the purposes stated.
RESOLUTION APPROVED AND ADOPTED on November 18, 2024.
RESOURCE COLORADO WATER AND
SANITATION METROPOLITAN
DISTRICT
By:
Attest:
By:
Secretary
¢ 2
President
2
4874-2043-4169, v. 1
Doc ID:584a0e16497c75afe2dc0045f1d56968aaa52937
EXHIBIT A
Budget
A-1
4874-2043-4169, v. 1
Doc ID:584a0e16497c75afe2dc0045f1d56968aaa52937
RESOURCE COLORADO WATER AND SANITATION DISTRICT
ANNUAL BUDGET
FOR YEAR ENDING DECEMBER 31, 2025
RESOURCE COLORADO WATER AND SANITATION DISTRICT
GENERAL FUND
2025 BUDGET
WITH 2023 ACTUAL AND 2024 ESTIMATED
For the Years Ended and Ending December 31,
12/3/24
ACTUAL
ESTIMATED
BUDGET
2023
2024
2025
BEGINNING FUND BALANCES $
REVENUES
Total revenues
Total funds available
EXPENDITURES
General and administrative
Operations and maintenance
Total expenditures
Total expenditures and transfers out
requiring appropriation
ENDING FUND BALANCES $ $ $
No assurance provided. See summary of significant assumptions.
1
RESOURCE COLORADO WATER AND SANITATION DISTRICT
PROPERTY TAX SUMMARY INFORMATION
2025 BUDGET
WITH 2023 ACTUAL AND 2024 ESTIMATED
For the Years Ended and Ending December 31,
12/3/24
ACTUAL
ESTIMATED
BUDGET
2023
2024
2025
ASSESSED VALUATION
Agricultural
State assessed
Oil and Gas
Certified Assessed Value
MILL LEVY
Total mill levy
140 130 130
690 1,600 1,590
4,240 4,080 4,250
$ 5,070 $ 5,810 $ 5,970
0.000
0.000 0.000
PROPERTY TAXES
Budgeted property taxes $ $ $
BUDGETED PROPERTY TAXES
General $ $ $
$ $
No assurance provided. See summary of significant assumptions.
2
RESOURCE COLORADO WATER AND SANITATION DISTRICT
2025 BUDGET
SUMMARY OF SIGNIFICANT ASSUMPTIONS
Services Provided
The District was organized to provide construction, installation, financing and operation of public
improvements, including water and sanitary sewer. The District's service area is located entirely within
Weld County, Colorado. The District was formed by Court Order recorded with the Weld County Clerk
and Recorder on December 1, 2004.
At the District's most recent election, held on May 6, 2014, the electorate authorized general obligation
debt to provide financing for the design, acquisition, construction and installation of essential public -
purpose facilities in the amount of $324,000,000 for each purpose including water, sewer, streets, and
mosquito control, $324,000,000 for agreements with other governments for District improvements,
$324,000,000 for debt refunding, and $324,000,000 for operations and maintenance. Debt is subject to
the terms of the Service Plan. The electorate also approved the removal of limitations imposed by the
TABOR Amendment and any other law that purports to limit the District's revenue or expenditures.
The District has no employees and all administrative functions are contractual.
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
The District has no revenue.
Expenditures
General and Administrative
No expenditures are anticipated in 2025.
Debt and Leases
The District has no debt or operating or capital leases.
3
RESOURCE COLORADO WATER AND SANITATION DISTRICT
2025 BUDGET
SUMMARY OF SIGNIFICANT ASSUMPTIONS
Reserves
Emergency Reserve
TABOR requires local governments to establish Emergency Reserves. These reserves must be at least
3% of fiscal year spending. Since the District does not anticipate generating any revenue nor incurring
any expense, an emergency reserve is not reflected.
This information is an integral part of the accompanying budget.
4
I, Lisa A. Jacoby, hereby certify that I am the duly appointed Secretary of the Resource Colorado
Water and Sanitation Metropolitan District, and that the foregoing is a true and correct copy of
the budget for the budget year 2025, duly adopted at a meeting of the Board of Directors of the
Resource Colorado Water and Sanitation Metropolitan District held on November 18, 2024.
Secretary
4874-2043-4169, v. 1
Doc ID:584a0e16497c75afe2dc0045f1d56968aaa52937
RESOLUTION NO. 2024-11-03
RESOLUTION TO SET MILL LEVIES
RESOLUTION OF THE RESOURCE COLORADO WATER AND SANITATION
METROPOLITAN DISTRICT LEVYING GENERAL PROPERTY TAXES, PURSUANT
TO SECTION 39-1-111, C.R.S., FOR THE YEAR 2024, TO HELP DEFRAY THE COSTS
OF GOVERNMENT FOR THE 2025 BUDGET YEAR
A. The Board of Directors of the Resource Colorado Water and Sanitation
Metropolitan District (the "District") has adopted an annual budget in accordance with the Local
Government Budget Law, on November 18, 2024.
B. The adopted budget is attached as Exhibit A to the Resolution of the Board of
Directors of the District to Adopt Budget and Appropriate Sums of Money, and such budget is
incorporated herein by this reference.
C. The amount of money necessary to balance the budget for general fund expenses
from property tax revenue is identified in the budget.
D. The amount of money necessary to balance the budget for debt service fund
expenses from property tax revenue is identified in the budget.
NOW, THEREFORE, PURSUANT TO SECTIONS 39-1-111(5) and 39-5-128(1),
C.R.S., BE IT RESOLVED by the Board of Directors of the Resource Colorado Water and
Sanitation Metropolitan District, Weld County, Colorado, that:
1. For the purpose of meeting all general operating expenses of the District during
the 2025 budget year, the District determined to levy mills upon each dollar of the total valuation
for assessment of all taxable property within the District, as set forth in the budget, to raise the
required revenue.
2. That for the purpose of meeting all debt retirement expenses of the District during
the 2025 budget year, the District determined to levy mills upon each dollar of the total valuation
for assessment of all taxable property within the District, as set forth in the budget, to raise the
required revenue.
3. That for the purpose of meeting all contractual obligation expenses of the District
during the 2025 budget year, the District determined to levy mills upon each dollar of the total
valuation for assessment of all taxable property within the District, as set forth in the budget, to
raise the required revenue.
4. That the Secretary is hereby authorized and directed to immediately certify to the
Board of County Commissioners of Weld County, Colorado, the mill levies for the District as set
forth in the District's Certification of Mill Levies, attached hereto as Exhibit 1 and incorporated
herein by reference, recalculated as needed upon receipt of the final certification of valuation
from the County Assessor in order to comply with any applicable revenue and other budgetary
limits.
Doc ID:584a0e16497c75afe2dc0045f1d56968aaa52937
[SIGNATURE PAGE OF RESOLUTION TO SET MILL LEVIES]
RESOLUTION APPROVED AND ADOPTED on November 18, 2024.
RESOURCE COLORADO WATER AND
SANITATION METROPOLITAN
DISTRICT
By: c2-- PI
President
Attest:
By:
Secretary
4856-9480-5753, v. 1
Doc ID:584a0e16497c75afe2dc0045f1d56968aaa52937
EXHIBIT 1
Certification of Tax Levies
A-1
4856-9480-5753, v. 1
Doc ID:584a0e16497c75afe2dc0045f1d56968aaa52937
1359 County Tax Entity Code
DOLA LGID/SID 65524/1
CERTIFICATION OF TAX LEVIES for NON -SCHOOL Governments
TO: County Commissioners' of
On behalf of the
the
of the
WELD COUNTY , Colorado.
RESOURCE COLO WATER Et SANITATION METRO
4
(taxing entity)`
Board of Directors
(governing body)B
RESOURCE COLO WATER Et SANITATION METRO
Hereby officially certifies the following mills
to be levied against the taxing entity's GROSS $
assessed valuation of:
Note: If the assessor certified a NET assessed valuation
(AV) different than the GROSS AV due to a Tax
Increment Financing (TIF) AreaF the tax levies must be $
calculated using the NET AV. The taxing entity's total
property tax revenue will be derived from the mill levy
multiplied against the NET assessed valuation of:
Submitted:
(no later than Dec. 15)
(local govemment)C
$5,970.00
(GROSS assessed valuation. Line 2 of the Certification of Valuation Form DLG 57E)
$5,970.00
(NETG assessed valuation, Line 4 of the Certification of Valuation Form DLG 57)
USE VALUE FROM FINAL CERTIFICATION OF VALUATION PROVIDED
BY ASSESSOR NO LATER THAN DECEMBER 10
12/12/2024 for budget/fiscal year
(mm/dd/yyyy)
2025
PURPOSE (see end notes for definitions and examples)
LEVY2
REVENUE2
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/AbatementsM
7. OtherN (specify):
0.000 mills $ 0
0.00
mills
0
mills
mills $
mills $
mills $
mills $
mills $
0
0
0
0
0
0
TOTAL. r Sum of General Operating
1 I Subtotal and Lines 3 to 7
0
mills
0
Contact person:
(print)
Signed:
Terri Boroviak
Daytime
phone:
Title:
303-439-6030
District Accountant
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
Division ofLocal Government (DLG), Room 521, 1313 Sherman Street, Denver, CO 80203. Questions? Call DLG at (303) 864-7720.
1 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.
2 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.10/24)
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.10/24)
I, Lisa A. Jacoby, hereby certify that I am the duly appointed Secretary of the Resource Colorado
Water and Sanitation Metropolitan District, and that the foregoing is a true and correct copy of
the Certification of Mill Levies for the budget year 2025, duly adopted at a meeting of the Board
of Directors of the Resource Colorado Water and Sanitation Metropolitan District held on
November 18, 2024.
Secretary
4856-9480-5753, v. 1
Doc ID:584a0e16497c75afe2dc0045f1d56968aaa52937
EXHIBIT B
Summary of Debt Authorized, Issued and Outstanding
Principal Amount
of Authorized Debt
Principal
Amount of
Authorization
Used
Principal Amount
of Authorization
Remaining
Purpose - Improvements
5A
Streets
$324,000,000.00
$0.00
$324,000,000.00
5B
Water Supply System
$324,000,000.00
$0.00
$324,000,000.00
5C
Sanitary Sewer System
$324,000,000.00
$0.00
$324,000,000.00
5D
Mosquito Control
$324,000,000.00
$0.00
$324,000,000.00
Purpose - Other
Authorizations
5E
Refunding of District debt or
other obligations
$324,000,000.00
$0.00
$324,000,000.00
5F
IGAs that are MFY obligations;
payable from unlimited ad
valorem property tax levy
$324,000,000.00
$0.00
$324,000,000.00
5G
Operating Expenses and
Reimbursement of Operating
Advances to the District
$50,000,000.00
$0.00
$50,000,000.00
5H
IGAs that are MFY obligations;
payable from unlimited ad
valorem property tax levy
$324,000,000.00
$0.00
$324,000,000.00
51
IGAs for Regional
Improvements that are MFY
obligations
Allowed
5J
Authority to Collect/Spend
Facilities Fees, charges, tap fees
Allowed
Note: IGA = Intergovernmental Agreement; MFY = Multiple Fiscal Year
Debt: All authorized debt is in the form of revenue bonds or other obligations of the District including but
not limited to contracts, leases and other agreements, except as otherwise noted.
B-1
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