HomeMy WebLinkAbout20194146.tiff Dianne D. Miller Michael E. Davis
Admitted in Colorado and Admitted in Colorado
New Mexico r Richard rd K. Sans Soucy
Admitted in Colorado
AA s Chelsea W, Rengel
ssociates Admitted in Colorado and
it Law Offices Idaho
July 22, 2019
Via hand -delivery
Ms . Esther Gesick
Clerk to the Board of County Commissioners RECEIVED
1150 0 Street
Greeley CO 80631
JUL 2 2 2019
RE : Real Weld Metropolitan District WELD COUNTY
Platte River Metropolitan District COMMISSIONERS
Ms . Gesick:
Enclosed is check number 41346 in the amount of $ 500. 00 as the service plan fee for
Real Weld :Metropolitan District and check number 41347 in the amount of $ 500. 00 as the
service plan fee for Platte River Metropolitan District. The serviceplans for these proposed
p p'
districts were filed with the clerk and recorder' s office on June 27, 2019 . I spoke with Mr.
Bob Choate of the County Attorney' s office last week and he indicated that these checks
should be sent to you.
Also, for your convenience, we are enclosing a copy of each of the service plans.
Please contact me with any questions or comments .
Very truly yours,
MILLER & ASSOCIATES LAW OFFICES ,
LLC
bafts
Enclosures
1641 California St Suite 300 I Denver, C0180202
p : (303 ) 285-5320 j 1: (303 ) 285 - 53301 www: ddinala .corn
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MILLER & ASSOCIATES LAW OFFICES LLC 41347
July 22, 2019
Weld County
$500. 00
Fee for service plan review / Platte River Metropolitan District
RECEIVED
JUL 2 2 210
WELD COUNTY
COMMISSIONERS
Front Range Bank 41347
MILLER. & ASSOCIATES LAW OFFICES LLC www.frontrangebank.conn
OPERATING ACCOUNT 82-642/1070
1641 CALIFORNfA STREET, SUITE 300 July 22 , 2019
DENVER, CO 80202
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MILLER & ASSOCIATES LAW OFFICES LLC 41347
July 22, 2019
Weld County
$500 , 00
Fee for service plan review / Platte River Metropolitan District
RECEIVED
JUL 2 2 2LTh79
WELD COUNTY
COMMISSIONERS
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Department of Local. Affairs
Division of Local Government
NOTICE of FILING of SPECIAL DISTRICT SERVICE PLAN
Pursuant to CRS 32 - 1 - 202 ( 1 ) , the County Clerk and Recorder or Municipal Clerk shall notify
the Division of Local Government within five days after the filing of a service plan for the
formation of a new Special District. Please provide the information indicated and return
this form to the division of Local Government,
Petitioner Information
Platte River Metropolitan District July 22 , 2019
Name of Proposed District Filing Date
Metropolitan District Weld County Board of County
Commissioners
Type of Proposed District Approving Authority Receiving Plan
Esther Gesick,c k, Clerk to the Board egesick@weldgov . com
(970)400 -4226
Contact Person Filing Service Klan Phone / Email
Hearing Information '
Weld County Administration Building, 1150 C Street, Greeley, Co 80631
Location of Hearing
9 : 00 a . m . September 18, 2019
Time of Hearing Date of Hearing
\knit ifa
efir'thit'
ocer: 14::414 WOLF:- l�.+i�
41:61, July 24, 2019
° 14%b
i[
Clerk Signature Date
' Pursuant to C . R . S . 32 - 1 -202 (1 ) the board of county commissioners shall provide written notice of the
date , time , and location of the hearing on the service plan to the division . Hearing information may be
provided when submitting this notice of filing of service plan if known .
DLG 60 ( Rev. 6/ 16)
•
Governor Jahn W . Hickenlooper Iry Halter, Executive Director Chantal Unfug, Division Director , ~� : f
s r
1313 Sherman Street , Room 521 , Denver, CO 80203 R 303. 864. 7720 TDD / TTY 303 . 864. 7758 w w. Bola. colcrado , gov
Strengthening Colorado Communities .
Dianne D. Miller Michael E. Davis
Admitted in Colorado and Admitted in Colorado
New Mexico IU.er Richard K. Sans Soucy
Admitted in Colorado A & Chelsea W. rye ngc I
s o c l at e s Admitted itted in Colorado and
Law Offices Idaho
RECEIVED
June 27 , 2019
JUL 1 7 2019
"Viii email to ekores@wefrieov . com jv . com and via 1-land Delivery
Weld County Board of County Commissioners WELD COUNTY
c/o Clerk and Recorder for thc Board of County Commissioners COMMISSIONERS
1150 0 Street
Greeley CO 80631
RE: Filing of Service Plan for proposed Platte River Metropolitan District
Dear Ms . Koppes :
Pursuant to C . R. S . § 32- I -202( 1 )(a),-202( 1 )(a), enclosed is a Service Plan for the proposed Platte
River Weld Metropolitan District wh ich is being filed with you . We will also notify the
county attorney ' s office of the filing by email . For your convenience, a copy of C.R.S. § 32-
] -2020 )(a) is also enclosed .
As of t day' s date , we are also filing a copy of the proposed service plan with the
Division of Local Government and the State auditor as required by statute.
Please call me if you have any questions or concerns regarding this filing.
Very truly yours,
MILLER & ASSOCIATES LAW OFFICES ,
1
_ z
Enclosures :
Service Plan for the proposed Platte River Metropolitan District
Copy of C . R. S . § 32 - 1 -202( 1 )(a)
1641 California St Suite 3001 Denver, Co 180202
p : ( 303 ) 285-5320 j f: (303) 285- 5330 I www.ddniaia .corn
Esther Gesick
From : Chloe Rempel
Sent: Wednesday, July 17, 2019 4: 12 PM
To: Bob Choate
Cc: Esther Gesick
Subject: RE: Submission of Service Plans for Real Weld Metropolitan District and Platte River
Metropolitan District
Bob,
CM has a shared email where we save all correspondence from SDs , and I confirmed we did not receive it
directly. It's likely C& R sent it inter-office . We process non-county created service plans as " pass-
around -* discard" and county created service plans as items of communications . If the districts didn 't identify
that they were applications for proposed special districts , we would have processed them via the above
procedures .
Please let me know if I can be of any further assistance .
Thank you ,
Chloe A. Re pel
Deputy Clerk to the Board
Weld County
1150 0 Street
Greeley CO 80631
tel: 970-400-4213
Oi
-± 'ter LP rp
r M
Confidentiality Notice : This electronic transmission and any attached documents or other writings are intended only for
the person or entity to which it is addressed and may contain information that is privileged , confidential or otherwise
protected from disclosure . If you have received this communication in error, please immediately notify sender by return
e- mail and destroy the communication . Any disclosure, copying, distribution or the taking of any action concerning the
contents of this communication or any attachments by anyone other than the named recipient is strictly prohibited .
From : Bob Choate
Sent: Wednesday, July 17, 2019 4 :01 PM
To: CTB <CTB@co . weld . co. us>
Subject : FW: Submission of Service Plans for Real Weld Metropolitan District and Platte River Metropolitan District
Esther et. al . ,
See below .
Thanks,
Bob Choate
Assistant Weld County Attorney
( 970) 400-4393
From: Bruce Barker
Sent : Wednesday, July 17, 2019 334 PM
To: Bob Choate < bchoate@weldgov.com >
Subject: FW: Submission of Service Plans for Real Weld Metropolitan District and Platte River Metropolitan District
Can you respond back to her and cite our application procedures? Thanks .
Bruce T. Barker, Esq .
Weld County Attorney
P .O . Box 758
1150 " On Street
Greeley, CO 80632
(970 ) 356-4000, Ext . 4390
Fax : ( 970) 352 -0242
"
1 1 ft ; . •
"I P. j
Confidentiality Notice : This electronic transmission and any attached documents or other writings are intended only for
the person or entity to which it is addressed and may contain information that is attorney privileged and confidential, or
otherwise protected from disclosure . If you have received this communication in error, please immediately notify
sender by return e-mail and destroy the communication . Any disclosure, copying, distribution or the taking of any action
concerning the contents of this communication or any attachments by anyone other than the named recipient is strictly
prohibited .
From : Dianne Miller < ddmiller@ddmalaw ,corm
Sent : Wednesday, July 17, 2019 1 :31 PM
To: Bruce Barker < bharker weldgov . com >
Subject: RE : Submission of Service Plans for Real Weld Metropolitan District and Platte River Metropolitan District
Caution : This email originated from outside of Weld County Government. Do not dick links or open attachments unless you recognize the
sender and know the content is safe .
Hi , Bruce : Just following up on the email I sent to you last week regarding the two new service plans we filed with the
County . Please advise of status and next steps . Thank you !
Dianne D . Miller
Miller & Associates Law Offices , LLC
1641 California Street , Suite 300
Denver CO 80202
i _lergsidnialaw. com
main : 303 285 5320
fax: 303 285 5330
cell : 303 564 4330
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
2
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 .
From : Dianne Miller
Sent : Wednesday, July 10, 2019 1 : 48 PM
To : ' Bruce Barker ( bbarker@cowelcbco . us)'
Subject: Submission of Service Plans for Real Weld Metropolitan District and Platte River Metropolitan District
Hello, Bruce : Our firm submitted to the clerk and recorder on June 27 two proposed new service plans : Real Weld
Metropolitan District and Platte River Metropolitan District. Can you let me know the next step with your staff or other
County staff on these service plans? Thanks !
Dianne D . Miller
Miller & Associates Law Offices, LLC
1641 California Street, Suite 300
Denver CO 80202
di i l.er dlrlrim Ia corn
main : 303 285 5320
fax : 303 285 5330
cell : 303 564 4330
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 .
3
SERVICE PLAN FOR
PLATTE RIVER METROPOLITAN DISTRICT,
WELD COUNTY,COLORADO
Prepared by
Miller&Associates Law Offices,LLC
1641 California Street, Suite 300
Denver CO 80202
Submitted June 27,2019
Approved
TABLE OF CONTENTS
I INTRODUCTION 1
A Purpose and Intent 1
B Need for the District 1
C Objective of the County Regarding District's Service Plan 1
II DEFINITIONS 2
III BOUNDARIES 4
IV PROPOSED LAND USE AND ASSESSED VALUATION 4
V DESCRIPTION OF PROPOSED POWERS, IMPROVEMENTS AND SERVICES 4
A Powers of the District and Service Plan Amendment 4
1 Operations and Maintenance Limitation 5
2 Construction Standards Limitation 5
3 Privately Placed Debt Limitation 5
4 Inclusion Limitation 5
5 Initial Debt Limitation 6
6 Total Debt Issuance Limitation 6
7 Monies from Other Governmental Sources 6
8 Consolidation Limitation 6
9 Eminent Domain Limitation 6
10 Service Plan Amendment Requirement 6
B Primary Infrastructure Plan 7
VI FINANCIAL PLAN 7
A General 7
B Maximum Voted Interest Rate and Maximum Underwriting Discount 8
C Maximum Debt Mill Levy 8
D Maximum Debt Mill Levy Imposition Term 8
E Debt Repayment Sources 9
F Security for Debt 9
G TABOR Compliance 9
H District's Operating Costs 9
I Elections 10
VII ANNUAL REPORT 10
A General 10
B Reporting of Significant Events 10
VIII DISSOLUTION 11
IX PROPOSED AND EXISTING INTERGOVERNMENTAL AGREEMENTS AND
EXTRATERRITORIAL SERVICE AGREEMENTS 11
X MATERIAL MODIFICATIONS 11
XI CONCLUSION 12
LIST OF EXHIBITS
EXHIBIT A Legal Descriptions
EXHIBIT B Vicinity Map
EXHIBIT C-1 Initial District Boundary Map
EXHIBIT C-2 Inclusion Area Boundary Map
EXHIBIT D Primary Infrastructure Plan
EXHIBIT E Financial Plan
I. INTRODUCTION
A Purpose and Intent
The District is an independent unit of local government, separate and distinct from the County and,
except as may otherwise be provided for by state or local law or this Service Plan, its activities are subject
to review by the County only insofar as they may deviate in a material matter from the requirements of
this Service Plan It is intended that the District will provide a part or all of the Public Improvements for
the use and benefit of all anticipated taxpayers and service users of the District The purposes of the
District will be a) to finance the construction of Public Improvements and to provide water on a
"wholesale" basis to other governments or entities that provide water to individual users, and b) to
provide maintenance of the Public Improvements
This Service Plan has been prepared in accordance with Article XIV of Chapter 2 of the County
Code
B Need for the District
There are currently no other governmental entities, including the County,that consider it desirable,
feasible or practical to undertake the planning, design, acquisition, construction, installation, relocation,
redevelopment and financing of the Public Improvements needed for the Project Formation of the
District is therefore necessary in order for the Public Improvements required for the Project to be
provided in the most economic manner possible
C Objective of the County Regarding District's Service Plan
The County's objective in approving the Service Plan for the District is to authonze the District to
provide for the planning, design, acquisition, construction, installation, relocation and redevelopment of
the Public Improvements from the proceeds of Debt to be issued by the District or from revenues received
from government and other entities through intergovernmental agreements, or from fees, rates, tolls and
charges imposed by the District or by other governments Any Debt that is issued from tax revenues
levied by the District is expected to be repaid by taxes imposed and collected for no longer than the
Maximum Debt Mill Levy Imposition Term and at a tax mill levy no higher than the Maximum Debt Mill
Levy Debt which is issued within these parameters (as further described in the Financial Plan) will
insulate property owners from excessive tax burdens to support the servicing of the Debt and will result in
a timely and reasonable discharge of the Debt
This Service Plan is intended to establish a limited purpose for the District and explicit financial
constraints that are not to be violated under any circumstances The District anticipates it will provide for
the Public Improvements associated with the Project and those regional improvements necessitated by the
Project Ongoing operational and maintenance activities are allowed, but only as specifically addressed in
this Service Plan, and only to the extent that the District has sufficiently demonstrated that such
operations and maintenance functions are in the best interest of the County and the existing and future
taxpayers and service users of the District In no case shall the mill levies imposed by the District for
debt service and operations and maintenance functions exceed the Aggregate Mill Levy Cap
It is not the intent of the District to dissolve due to the complex and ongoing maintenance functions
for the Public Improvements
The District shall be authorized to finance those Public Improvements that can be funded from a)
Debt to be repaid from tax revenues collected within the boundaries of the District from a mill levy which
shall not exceed the Maximum Debt Mill Levy and which shall not exceed the Maximum Debt Mill Levy
Imposition Term, or b) revenues received by the District from other governments, or c) fees, rates, tolls
and charges imposed by the District through intergovernmental agreements, or d) fees, rates, tolls and
charges imposed directly by the District on property within its boundaries It is the intent of this Service
Plan to assure to the extent possible that no taxable property bear an economic burden that is greater than
that associated with the Maximum Debt Mill Levy in amount and that no property bear an economic
burden that is greater than that associated with the Maximum Debt Mill Levy Imposition Term in
duration, even under bankruptcy or other unusual situations However, the District is authorized to
construct and acquire facilities without resort to financing and anticipates that it will construct and acquire
Public Improvements utilizing both Debt,revenue financing and through direct payment
II. DEFINITIONS
In this Service Plan, the following terms shall have the meanings indicated below, unless the
context hereof clearly requires otherwise
Aggregate Mill Levy Cap means the maximum aggregate mill levy the District is permitted to
impose for debt service and operations and maintenance, as set forth in Subsection VI H below
Approved Development Plan means a development plan or other process established by the
County (including but not limited to approval of a Planned Unit Development final plan or
Subdivision final plat by the BOCC) for identifying, among other things, Public Improvements
necessary for facilitating development for property within the Service Area as approved by the
County pursuant to the County Code and as amended pursuant to the County Code from time to
time
Board means the Board of Directors of the District
BOCC means the Board of County Commissioners of the County of Weld, Colorado
Bond, Bonds or Debt means bonds or other obligations for the payment of which the District
has promised to impose an ad valorem property tax mill levy
County means the County of Weld, Colorado
County Code means the Weld County Code,as the same may be amended from time to time
District means the Platte River Metropolitan District
External Financial Advisor means a consultant that (1) advises Colorado governmental
entities on matters relating to the Issuance of securities by Colorado governmental entities,
including matters such as the pricing, sales and marketing of such securities and the procuring of
bond ratings, credit enhancement and insurance in respect of such securities, (2) shall be an
underwriter, investment banker or individual listed as a public finance advisor in the Bond Buyer's
Municipal Market Place,and(3)is not an officer or employee of the District
Financial Plan means a Financial Plan described in Section VI below which is prepared by an
External Financial Advisor in accordance with the requirements of the County Code and describes
(a) how Public Improvements are to be financed, (b) how the Debt is expected to be incurred, and
(c)the estimated operating revenue derived from property taxes for the first budget year
Inclusion Area Boundaries means the boundaries of the area described in the Inclusion Area
Boundary Map, if any
Inclusion Area Boundary Map means the map attached hereto as Exhibit C-2, describing the
property proposed for inclusion within the District(if any)in the future
Initial District Boundaries means the boundaries of the area descnbed in the Initial District
Boundary Map
Initial District Boundary Map means the map attached hereto as Exhibit C-1, describing the
District's initial boundaries
Maximum Debt Mill Levy means the maximum mill levy the District is permitted to impose
for payment of Debt as set forth in Subsection VI C below
Maximum Debt Mill Levy Imposition Term means the maximum term for imposition of a mill
levy as set forth in Subsection VI D below
Primary Infrastructure Plan means the Primary Infrastructure Plan described in Subsection
V B below, which includes a description of the Public Improvements to be developed by the
District, and(b)an estimate of the cost of the Public Improvements
Project means water supply, water infrastructure and related, appurtenant non-water
infrastructure to serve development
Public Improvements means a part or all of the improvements authorized to be planned,
designed, acquired, constructed, installed, relocated, redeveloped and financed as generally
described in the Special District Act, except as specifically limited in Section V below to serve the
future taxpayers and service users of the Service Area as determined by the Board of the District
Service Area means the land within the Initial District Boundary Map and the land within the
Inclusion Area Boundary Map Service Area also includes all land subject to intergovernmental
agreements between the District and other units of local government located within Weld County
Service Plan means this service plan for the District approved by the BOCC
Service Plan Amendment means an amendment to the Service Plan approved by the BOCC in
accordance with applicable state law
Special District Act means Section 32-1-101 et seq, CRS , as amended from time to time
State means the State of Colorado
Total Debt Issuance Limitation means the total Debt the District is authorized to issue, as set
forth in Paragraph V A 6 below and supported by a Financial Plan
III. BOUNDARIES
The area of the Initial District Boundanes includes approximately 54 acres, and the total area
proposed to be included in the Inclusion Area Boundaries is approximately 16,427 03 acres A legal
description of the Initial District Boundaries and the Inclusion Area Boundaries is attached hereto as
Exhibit A A map of the Initial District Boundaries is attached hereto as Exhibit C-1, and a map of the
Inclusion Area Boundaries is attached hereto as Exhibit C-2 A vicinity map is attached hereto as Exhibit
B It is anticipated that the District's Boundaries may change from time to time as it undergoes inclusions
and exclusions pursuant to Section 32-1-401 et seq, CRS , and Section 32-1-501 et seq, CRS , subject
to the limitations set forth in Article V below
IV. PROPOSED LAND USE AND ASSESSED VALUATION
The Service Area consists of approximately 16,535 06 acres of land The current assessed
valuation of the Service Area land is assumed to be$887,520 for purposes of this Service Plan
Approval of this Service Plan by the County does not imply approval of the development of a
specific area within the District, nor does it imply approval of the number of residential units or the total
site/floor area of commercial or industrial buildings which may be identified in this Service Plan or any of
the exhibits attached thereto, unless the same is contained within an Approved Development Plan
V DESCRIPTION OF PROPOSED POWERS,IMPROVEMENTS AND SERVICES
A Powers of the District and Service Plan Amendment
The District shall have the power and authority 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 herein The District shall not provide potable water service to any land within its Initial Boundaries
or its Inclusion Area Boundaries if such land is already included within the boundaries of another water
district unless that water district consents to the provision of service by this District, or, if the water
provider is an entity other than a water district, then the BOCC must consent to the provision of potable
water service by this District All Public Improvements constructed by the District shall be located within
Weld County
If, after the Service Plan is approved, the State Legislature includes additional powers or grants
new or broader powers for Title 32 districts by amendment of the Special District Act, no such powers
shall be available to or exercised by the District unless the District publishes forty-five-day notice and
provides written notice to the BOCC pursuant to Section 32-1-207(3)(b), C R S If, within forty-five (45)
days of the publication of such notice, the BOCC expresses to the District a written objection to the
proposed exercise of such new or broader powers, then the exercise of the same by the District without
the prior written consent of the BOCC shall be considered a material modification of the Service Plan and
shall be resolved in accordance with Section 32-1-207(2), C R S
1 Construction standards limitation The District will ensure that the Public Improvements
are designed and constructed in accordance with the standards and specifications all governmental
entities having proper jurisdiction, as applicable The District will obtain all applicable permits for
construction and installation of Public Improvements prior to performing such work
3 Privately placed debt limitation Pnor to the issuance of any privately placed Debt, the
District shall obtain the certification of an External Financial Advisor substantially as follows
We are[I am] an External Financial Advisor within the meaning of the District's Service Plan
We [I] certify that(1)the net effective interest rate(calculated as defined in Section 32-1-103(12),
C R S) to be borne by the District for the [insert the designation of the Debt] does not exceed a
reasonable current[tax-exempt] [taxable] interest rate,using criteria deemed appropriate by us [me]and
based upon our [my] analysis of comparable high yield securities, and (2) the structure of[insert the
designation of the Debt], including maturities and early redemption provisions, is reasonable
considering the financial circumstances of the District
4 Inclusion and exclusion limitations For inclusions or exclusions of property, forty-five
(45) days written notice of the proposed inclusion or exclusion shall be given to the Board of
County Commissioners in the manner specified in Section 32-1-207(2)(b), C R S If within 45
days of the receipt of such notice, the Board of County Commissioners provides to the District a
written objection to the proposed inclusion or exclusion, then the proposed inclusion or exclusion
shall be considered a material modification of the Service Plan and shall be resolved in accordance
with Section 32-1-207(2), C R S All inclusions and exclusions will comply with the provisions of
Title 32 requiring publication of notice of the public hearing by the District on the inclusion or
exclusion petition
The District shall not include any property within its boundaries that are within the
boundaries of another Title 32 district unless the other Title 32 district consents to the simultaneous
exclusion of property and causes such exclusion to occur The purpose of this provision is to
prohibit overlapping districts on property within a single tax year
5 Use of Water To the extent of the District's ownership of storage in any reservoir, and
subject to carnage, evaporation and evapotranspiration losses for such water, the water stored and
released in the District's storage space shall be used for (a) direct non-potable delivery to water
users within Weld County, Colorado, (b) augmentation of depletions which, if not augmented,
would have an impact on any river, stream or groundwater located in Weld County, Colorado, (c)
replacement of diversions by release of such stored water into a river or stream, a canal or a
recharge or other groundwater management facility in Weld County Colorado, or, (d) exchange or
transfer to another reservoir to facilitate either(a),(b)or(c)above
6 Total debt issuance limitation The District shall not issue Debt in excess of
$200,000,000 To the extent the District seeks to modify the Total Debt Issuance Limitation, it
shall proceed in accordance with Subsection 2-14-20 I of the County Code
7 Monies from other governmental sources The District shall not apply for or accept
Conservation Trust Funds, Great Outdoors Colorado Funds or other funds available from or
through governmental or nonprofit entities for which the County is eligible to apply, except
pursuant to an intergovernmental agreement with the County This Section shall not apply to
specific ownership taxes which shall be distributed to and a revenue source for the District without
any limitation
8 Consolidation limitation The District shall not file a request with any court to
consolidate with another Title 32 district without the pnor written consent of the County
9 Eminent domain limitation The District shall not exercise its statutory power of eminent
domain, except as may be necessary to construct, install, access, relocate or redevelop the Public
Improvements identified in the Primary Infrastructure Plan Any use of eminent domain shall be
undertaken strictly in compliance with state law Any proposed use of eminent domain for a
purpose other than as may be necessary to complete the Public Improvements identified in the
Primary Infrastructure Plan shall require a forty-five-day notice publication and written notice to
the BOCC pursuant to Section 32-1-207(3)(b), C R S If, within forty-five (45) days of the
publication of such notice, the BOCC expresses to the District a written objection to the proposed
use of eminent domain by the Distnct, then the proposed use of eminent domain shall be
considered a material modification of the Service Plan and shall be resolved in accordance with
Section 32-1-207(2),C R S
10 Service Plan amendment requirement This Service Plan is general in nature and does
not include specific detail in some instances because development plans have not been finalized
The Service Plan has been designed with sufficient flexibility to enable the District to provide
required services and facilities under evolving circumstances without the need for numerous
amendments Modification of the general types of services and facilities making up the Public
Improvements, and changes in proposed configurations, locations or dimensions of the Public
Improvements, shall be permitted to accommodate development needs for the Project The District
is an independent unit of local government, separate and distinct from the County, and its activities
are subject to review by the County only insofar as they may deviate in a material manner from the
requirements of the Service Plan Any action of the District which (1) violates the limitations set
forth in Paragraphs V A 1-9 above, or(2)violates the limitations set forth in Subsections VI B—
H below, shall be deemed to be a material modification to this Service Plan, unless otherwise
agreed by the County as provided for in Section X of this Service Plan
B Primary Infrastructure Plan
The District shall have authority to provide for the planning, design, acquisition, construction,
installation,relocation,redevelopment, maintenance and financing of the Public Improvements within and
without the boundaries of the District The Primary Infrastructure Plan, including (1) a description of
the Public Improvements to be developed by the District, and (2) an estimate of the cost of the Public
Improvements is attached hereto as Exhibit D As shown in the Primary Infrastructure Plan,the estimated
cost of the Public Improvements which may be planned for, designed, acquired, constructed, installed,
relocated, redeveloped, maintained or financed by the District will be dependent on the design of the
Public Infrastructure with the users thereof The District shall describe such further and other Public
Improvements deemed appropriate to meet the goals of the District and provide notice of such description
to the Board of County Commissioners of Weld County within forty-five (45) days thereof All Public
Improvements constructed by the District shall be located within Weld County
The District shall be permitted to allocate costs between such categories of the Public
Improvements as deemed necessary in its discretion
All of the Public Improvements described herein will be designed in such a way as to assure that
the Public Improvements standards will be compatible with those of all government entities having
jurisdiction shall be in accordance with the requirements of the Approved Development Plan, if any All
descriptions of the Public Improvements to be constructed, and their related costs, are estimates only and
are subject to modification as engineering, development plans, economics, the requirements of other
government entities having jurisdiction and construction scheduling may require Upon approval of this
Service Plan, the District will continue to develop and refine the Primary Infrastructure Plan, as
necessary, and prepare for issuance of Debt All cost estimates will be inflated to then-current dollars at
the time of the issuance of Debt and construction All construction cost estimates contained in Exhibit D
assume construction to applicable local,state or federal requirements
VI.FINANCIAL PLAN
A General
The District shall be authorized to provide for the planning, design, acquisition, construction,
installation, relocation and/or redevelopment of the Public Improvements from its revenues and by and
through the proceeds of Debt to be issued by the District The Financial Plan for the Distnct shall be to
issue such Debt as the District can reasonably pay within the Maximum Debt Mill Levy Imposition Term
from revenues derived from the Maximum Debt Mill Levy and other legally available revenues The total
Debt that the Distnct shall be permitted to issue shall not exceed the Total Debt Issuance Limitation and
shall be permitted to be issued on a schedule and in such year or years as the District determines shall
meet the needs of the Financial Plan referenced above and phased to serve development as it occurs All
Bonds and other Debt issued by the District may be payable from any and all legally available revenues of
the Distnct, including general ad valorem taxes to be imposed upon all taxable property within the
District The Distnct will also rely upon various other revenue sources authorized by law These will
include the power to assess fees, rates, tolls, penalties or charges as provided in Section 32-1-1001(1),
CRS
The Total Debt Issuance Limitation is supported by the Financial Plan prepared by RBC Capital
Markets, attached hereto as Exhibit E The Financial Plan attached to this Service Plan satisfies the
requirements of Subsection 2-14-20 I of the County Code In addition to Debt financing, the District
anticipates that it may issue revenue bonds from revenues which are not received from the imposition of a
property tax within the District's boundaries Revenue bonds do not constitute debt under this Service
Plan or state law
B Maximum Voted Interest Rate and Maximum Underwriting Discount
The interest rate on any Debt or revenue financing is expected to be the market rate at the time of
issuance In the event of a default,the proposed maximum interest rate on any Debt or revenue issuance
is not expected to exceed fifteen percent (15%) The proposed maximum underwriting discount will be
five percent(5%) Debt or revenue financing, when issued, will comply with all relevant requirements of
this Service Plan, state law and federal law as then applicable to the issuance of public securities
C Maximum Debt Mill Levy
The Maximum Debt Mill Levy shall be the maximum mill levy the District is permitted to impose
upon the taxable property within the District for payment of Debt, and shall be fifty (50) mills, provided
that if, on or after January 1, 2019, there are changes in the method of calculating assessed valuation or
any constitutionally mandated tax credit, cut or abatement, the mill levy limitation applicable to such
Debt may be increased or decreased to reflect such changes, such increases or decreases to be determined
by the Board in good faith(such determination to be binding and final) so that,to the extent possible, the
actual tax revenues generated by the mill levy, as adjusted for changes occurring after January 1, 2019,
are neither diminished nor enhanced as a result of such changes For purposes of the foregoing, a change
in the ratio of actual valuation to assessed valuation shall be deemed to be a change in the method of
calculating assessed valuation All Debt issued by the District must be issued in compliance with the
requirements of Section 32-1-1101,C R S , and all other requirements of state law
D Maximum Debt Mill Levy Imposition Term
Within its boundaries,the District shall not impose a levy for repayment of any and all Debt(or use
the proceeds of any mill levy for repayment of Debt) on any property which exceeds thirty (30) years
after the year of the initial imposition of such mill levy to such property unless a majority of the Board are
property owners of the District and have voted in favor of a refunding of a part or all of the Debt and such
refunding will result in a net present value savings as set forth in Section 11-56-101 et seq, C R S
The District shall be limited to issuing new Debt within a period of fifteen(15)years from the date
of the District's first debt authorization election The District may issue Debt after the fifteen-year period
in order to provide the services outlined in this Service Plan if development phasing is of a duration that
makes it impracticable to issue all debt within the fifteen-year period
E Debt Repayment Sources
The District may impose a mill levy on taxable property within its boundaries as a source of
revenue for repayment of debt service and for operations and maintenance The District may also rely
upon various other revenue sources authorized by law At the District's discretion,these may include the
power to assess fees, rates,tolls, penalties or charges as provided in the Special District Act In no event
shall the debt service mill levy in the District exceed the Maximum Debt Mill Levy
F Security for Debt
The District shall not pledge any revenue or property of the County as security for the indebtedness
set forth in this Service Plan Approval of this Service Plan shall not be construed as a guarantee by the
County of payment of any of the District's obligations, nor shall anything in the Service Plan be construed
so as to create any responsibility or liability on the part of the County in the event of default by the
District in the payment of any such obligation
G TABOR Compliance
The District will comply with the provisions of TABOR In the discretion of the Board, the
District may set up other qualifying entities to manage, fund, construct and operate facilities, services and
programs To the extent allowed by law, any entity created by the District will remain under the control
of the District's Board
H District's Operating Costs
The estimated cost of acquiring land, engineering services, legal services and administrative
services, together with the estimated costs of the District's organization and initial operations, are
anticipated to be$50,000 00,which will be eligible for reimbursement from Debt proceeds
In addition to the capital costs of the Public Improvements,the District will require operating funds
for administration and to plan and cause the Public Improvements to be operated and maintained The
first year's operating budget is estimated to be $50,000 00, which is anticipated to be derived from
property taxes and other revenues
The Maximum Debt Mill Levy for the repayment of Debt shall not apply to the District's ability to
increase its mill levy as necessary for provision of operation and maintenance services to its taxpayers and
service users The Aggregate Mill Levy Cap shall be the maximum mill levy the District is permitted to
impose upon the taxable property within the District for payment of Debt and operations and maintenance
functions, and shall be sixty-five (65) mills, provided that if, on or after January 1, 2019, there are
changes in the method of calculating assessed valuation or any constitutionally mandated tax credit,cut or
abatement, the mill levy limitation applicable to such Debt may be increased or decreased to reflect such
changes, such increases or decreases to be determined by the Board in good faith (such determination to
be binding and final) so that, to the extent possible,the actual tax revenues generated by the mill levy, as
adjusted for changes occurring after January 1, 2019, are neither diminished nor enhanced as a result of
such changes For purposes of the foregoing, a change in the ratio of actual valuation to assessed
valuation shall be deemed to be a change in the method of calculating assessed valuation Although the
operations and maintenance mill levy imposed by the District may exceed fifteen(15) mills as part of the
Aggregate Mill Levy Cap,the debt service mill levy may not exceed the Maximum Debt Mill Levy
The District shall impose a mill levy for debt, capital costs, operations and maintenance expenses for its
Public Improvements, all of which shall be within Weld County Operation and maintenance expenses include all
reasonable and necessary current expenses of the District, paid, accrued, or reserved for operating,
maintaining, and repairing the Public Improvements, including without limitation legal and overhead
expenses of the District directly related to the administration of the Public Improvements, insurance
premiums, audits, charges of depository banks and paying agents, professional services, salaries and
administrative expenses, labor, the cost of materials and supplies for current operation, the amount
required to be paid as a rebate obligation to the United States of America as required in order to avoid
impairing the exclusion from gross income for purposes of the federal income tax of the interest paid or to
be paid thereon, allowance for depreciation, franchise fees, and legal liabilities based on contract Debt
and capital costs include all funds paid, accrued or reserved for the acquisition of land, easements,
facilities,water rights, and equipment(other than ordinary repairs and replacements),and the construction
or reconstruction of improvements, betterments, and extensions, for use by or in connection with the
Public Improvements, together with the principal, interest, reserves, surplus funds, administrative costs to
paying agents, registrars, and costs of issuance related to the issuance of debt obligations by the District
Capital improvements shall be paid from, and shall be subject to the limitations,relating to Debt provided
above
I Elections
The District will call an election on the questions of organizing the District, electing the initial
Board and setting in place the proposed financial structure as required by TABOR The election will be
conducted as provided in the Uniform Election Code of 1992, the Municipal Election Code and TABOR
At least thirty (30) days prior to the Distnct's organizational election, the proposed ballot questions shall
be submitted to the County for review to ensure that said ballot questions are in compliance with this
Service Plan
VII. ANNUAL REPORT
A General
The District shall be responsible for submitting an annual report with the County Clerk not later
than March 1 of each year following the year in which the Order and Decree creating the District has been
issued by the District Court for and in Weld County,Colorado
B Reporting of Significant Events
The annual report shall include information as to any of the following
1 Boundary changes made or proposed to the District's boundary as of December 31 of the
prior year
2 Intergovernmental Agreements with other governmental entities, either entered into or
proposed as of December 31 of the prior year
3 Copies of the District's rules and regulations, if any, as of December 31 of the prior year
4 A summary of any litigation which involves the District Public Improvements as of
December 31 of the prior year
5 Status of the District's construction of the Public Improvements as of December 31 of the
prior year
6 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
7 The estimated assessed valuation of the District for the current year
8 Current year budget including a description of the Public Improvements to be constructed
in such year
9 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
VIII DISSOLUTION
Upon a determination of the BOCC that the purposes for which the District was created have been
accomplished,the District agrees to file a petition in the District Court in and for Weld County, Colorado,
for dissolution, in accordance with the provisions of the Special District Act In no event shall dissolution
occur until the District has provided for the payment or discharge of all of its outstanding Debt and other
financial obligations as required pursuant to state statutes If the District is responsible for ongoing
operations and maintenance functions under this Service Plan (Long-Term District Obligations), the
District shall not be obligated to dissolve upon any such BOCC determination However, should the
Long-Term District Obligations be undertaken by the County or other governmental entity, or should the
District no longer be obligated to perform the Long-Term District Obligations, the District agrees to
commence dissolution proceedings as set forth above
IX.PROPOSED AND EXISTING INTERGOVERNMENTAL AGREEMENTS AND
EXTRATERRITORIAL SERVICE AGREEMENTS
All such agreements must be for facilities, services and agreements lawfully authorized to be
provided by the District, pursuant to the State Constitution, Article XIV, Section 18(2)(a), and Sections
29-1-201 et seq, CRS To the extent practicable, the District may enter into additional
intergovernmental and private agreements to better ensure long-term provision of the Public
Improvements identified herein Agreements may also be executed with property owner associations and
other service providers
Any agreements which are required, or known at the time of formation of the District to likely be
required, to fulfill the purposes of the District, must be described in this Service Plan, along with
supporting rationale Execution of intergovernmental or extraterritorial agreements by the District that
are not described in this Service Plan shall require a forty-five-day notice publication and written notice to
the BOCC pursuant to Section 32-1-207(3)(b), C R S If, within forty-five (45) days of the publication of
such notice, the BOCC expresses to the Distnct a written objection to the proposed agreements, then the
entry into said agreements without the prior written approval of the BOCC shall be considered a material
modification of this Service Plan and shall be resolved only in accordance with Section 32-1-207(2),
CRS
X. MATERIAL MODIFICATIONS
Material modifications to this Service Plan may be made only in accordance with Section 32-1-
207, C R S All modifications to the written provisions of this Service Plan, whether deemed material or
otherwise, must be approved by the County prior to becoming effective, and the Distnct shall not be
permitted to unilaterally make such modifications No modification shall be required for an action of the
District which does not materially depart from the provisions of this Service Plan The Distnct may
request from the County a determination as to whether the County believes any particular action
constitutes a material departure from the Service Plan, and the District may rely on the County's written
determination with respect thereto, provided that the District acknowledges that the County's
determination as aforesaid will be binding only upon the County, and will not be binding upon any other
party entitled to enforce the provisions of the Service Plan as provided in Section 32-1-207, C R S
XI CONCLUSION
It is submitted that this Service Plan for the District, as required by Section 32-1-203(2), C R S,
and Section 32-1-203(3), C R S ,establishes that
1 There is sufficient existing and projected need for organized service in the area to be
serviced by the District,
2 The existing service in the area to be served by the District is inadequate for present and
projected needs,
3 The District is capable of providing economical and sufficient service to the area within
its proposed boundaries,
4 The area to be included in the District does have, and will have, the financial ability to
discharge the proposed indebtedness on a reasonable basis,
5 Adequate service is not, and will not be, available to the area through the County or other
existing municipal or quasi-municipal corporations, including existing special districts, within a
reasonable time and on a comparable basis,
6 The facility and service standards of the District are compatible with the facility and
service standards of the County and each municipality which is an interested party under Section
32-1-204(1),C R S ,
7 The proposal is in substantial compliance the County's Master Plan adopted pursuant to
Section 30-28-106,C R S ,
8 The proposal is in compliance with any duly adopted County, regional or state long-range
water quality management plan for the area,
9 The creation of the District is in the best interests of the area proposed to be served,and
10 The creation of the District is in the best interests of the residents and future residents of
the area proposed to be served
XII. RESOLUTION OF APPROVAL
The District agrees to incorporate the BOCC's resolution of approval, including any conditions on
any such approval, into the Service Plan presented to the District Court for and in Weld County,
Colorado
INITIAL BOUNDARIES LEGAL DESCRIPTION
COMMENCING AT A POINT, SAID POINT BEING THE EAST QUARTER SECTION OF
SECTION 15TOWNSHIP 1 NORTH RANGE 66W OF THE 6TH PM,AS MONUMENTED BY A 2
1/2"ALUMINUM CAP AND STAMPED LS 19585,
THENCE S89°34'00"1V,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 1'HE sourm PROPERTY LINE
TO THE CENTER LINE OFTHE BRIGHTON LATERAL DITCH,
DEPARTING SAID SOUTH LINE AND FOLLOWIGN THE CENTER OF THE BRIGHTON
LATERAL DITCH ALONG THE FOLLOWING 9 COURSES
THENCE N09°31'55"E,A DISTANCE OF 68 79 FEET,
THENCE N19°46'15"E,A DISTANCE OF 52.31 FEET,
!HENCE 3331°05'50"E,A DISTANCE OF 13185
FEET, 17-1ENCE N24°30'40"E,A DISTANCE OF 57 97
FEET,THENCE N18°19'58"E,A DISTANCE OF 63 63
FEr i,THENCE N15°28'41"E,A DISTANCE OF
119 40 FEET,THENCE N16°59'14"E,A DISTANCE
OF 65 96 FEET,THENCE N17°14'57"E,A DISTANCE
OF 9171 FEET,THENCE N42°49'49""W,A
DISTANCE OF 135I,r:L.I,
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 ANI)FOLLOWING
QUARTER SECTION LINE OF SAID SECTION 15
THENCE ALONG THE NORTH BOUNDARY OF SAID PARCEL
N89°3340"F,,A DISTANCE OF 1,04911 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 ORT.FSS
INCLUSION BOUNDARIES LEGAL DESCRIPTION
A parcel of land situated in the East 1 /2 of Section 34, Township 2 North, Range 66 West of
the 6th P.M., being more particularly described as follows :
Basis of bearing : The West line of the Northeast 1 / 1 of said SectiOn being monumented at
the North 1 /. i by a No. 6 Rebar with a 3 1 /. i" aluminum cap stamped "JR ENG - PLS 13258 "
and at the center 1 /. i by a No . 5 rebar with a 2 " aluminum cap stamped " Alpha ENGRG- LS
25937 " said line assumed to bear No 1 th 00° 15 ' 06 " East. Commencing at the center of said
Section 34 ; thence South 89° 50'41 " East along the North line of the Southeast 1 /4, a distance
of 1329 .95 feet to the East center 1116th corner; thence South 00° 13 '43 " West along the
East line of the West 1 2 of the Southeast 14, a
distance of2642 . 14 feet to a point 30 . 00 feet North of the South line of the Southeast 1 /4 ;
thence North 89° 32' 14 " West along a line 30 . 00 feet North of and parallel with the South
line of the Southeast %, a distance of 1331 . 02 feet to a point on the West line of the West
1 /2 of the East V2 of Section 34 ; thence North 00° 15 '06 " East along the West line of the West
lh of the East 1 /2 of said section a distance of 2635 . 00 feet to the point of beginning, County
of Weld, State of Colorado . Known as vacant land, Ft Lupton, CO and identified as
assessor' s Parcel No . R0918101
* * * *
Lot D, recorded exemption no . 1057-30-3 RECX 14-0051 , recorded October 15 , 2014 as
reception No . 4054276, being a part of the southwest 'A section 30, township 4 north, ranch 66
west of the 6th P.M . , County of Weld, State of Colorado .
* * * *
PARCEL ONE OF THAT WELD COUNTY PROPERTY COMMENCING AT THE
SOUTHWEST CORNER OF 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 1 ,239 . 81 FEET TO THE POINT
OF BEGINNING OF PARCEL ONE :
THENCE N0°04'4TE ALONG SAID WEST LINE . A DISTANCE OF 1 .400.95 FEET
TO THE WEST QUARTER OF SAID SECTION 26 AS MONUMENTED BY A 2 Yi "
ALUMINUM CAP - • PLA 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 :
I THENCE S80°46' 14"E, A DISTANCE OF 33 08 FEET
2 THENCE $67°58'39"E, A DISTANCE OF 1,036 08 FEET,
3 THENCE S87°1 1 '27"E, A DISTANCE OF 676 32 FEET,
4 THENCE S55°02'3 I "E, A DISTANCE OF 168 79 FEET,
5 THENCE $65°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 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 HAYING 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,JI 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°50'5I"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 ONE
PARCEL TWO OF THAT WELD COUNTY PROPERTY 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 SOUTI-IEASTERLY RIGHT OF WAY LINE THE
FOLLOWING 7 COURSES
1 THENCE N40°1 O' 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 DISTA CE OF 562 82 FEET,
SAID CURVE HAVING A CENTRAL ANGLE OF 5°32'Or 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°32'2 1"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
HAYING 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°3 1 51"E ALONG SAID TANGENT A DISTANCE OF 2,519 41
FEET TO A POINT ON THE EAST LINE OF THE SOUTHEAST QUARTER
OF SAID SECTION 23,
THENCE S00°49' I 5"E ALONG SAID EAST LINE, A DISTANCE OF 1 ,869 42 FEET
TO THE NORTHEAST 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 NORTHEAST 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 SOUTHEAST 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
I 18 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
I 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 TI IE LEFT
WHOSE CHORD BEARS S53°2 1 'OTW, A DISTANCE OF 634 85 FEET SAID
CURVE HAVING A CENTRAL ANGLE OF 88°28'3 I", A RADIUS Or 455 00
FEET AND AN ARC LENGTH OF 702 60 FEET TO A POINT OF TANGENCY,
3 THENCE S09°06'4T'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 HAYING 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 HAYING 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 SI 10 05'23"W ALONG SAID TANGENT, A DISTANCE OF 555 88
FEET TO A POINT OF CURVE,
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
HAYING 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 CUR VE TO THE LEFT WHOSE
CHORD BEARS S45°05'25"E, A DISTANCE OF 346 49 FEET, SAID CURVE
HAYING 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 OFA TANGENT CURVE TO THE RIGHT
WHOSE CHORD BEARS S31°23'IT'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°I0'44"E ALONG SAID TANGENT, A DISTANCE OF 64 90 FEET
TO A POINT THAT LIES ON THE EAST LINE OF THE NORTHEAST
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 HAYING 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
HAYING 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 SI 10 19'OT' W ALONG SAID TANGENT A DISTANCE OF 21 13
FEET TO A POINT LYING ON THE NORTH LINE OF THE SOUTHEAST
QUARTER OF SAID SECTION 35
THENCE S89°3 1 '02"E ALONG SAID NORTH LINE, 336 43 FEET TO THE EAST
QUARTER CORNER OF SAID SECTION 35 AS MONUMENTED BY A 3 W'
ALUMINUM CAP "LS 7242",
THENCE S00°33'39"E ALONG THE EAST LINE OF THE SOUTHEAST 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 W'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 S89°13'07"W A DISTANCE OF 2152 95 FEET,
2 THENCE N85°18'43' w A DISTANCE OF 590 70 FEET,
3 THENCE S82°1 TOo'w, A DISTANCE OF 558 27 FEET,
4 THENCE S89°1 1 '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,
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 Yr"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 I Yi"
ALUMINUM CAP LS 17658",
THENCE N00°54' 1 O"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 TI-IAT
PARCEL DESCRIBED AT RECEPTION NO 2444383, AS RECORDED WITH THE
CLERK AND RECORDER, COUNTY OF WELD, STATE OF COLORADO AS
MONUMENTED BY A I Yi"PLASTIC CAP "PLS 38026"
THENCE ALONG SAID NORTHEASTERLY LINE THE FOLLOWING 11 COURSES
I 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°5 1 '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' I 2"W, A DISTANCE OF 197 35 FEET
10 THENCE N46°0T 13"W, A DISTANCE OF 224 78 FEET,
11 THENCE N25°07'24 W A DISTANCE OF 69 65 FEET TO Ti IE SOUTHWEST
CORNER OF THE SOUTHEAST QUARTER OF THE NORTHEAST QUARTER
OF SAID SECTION 34, AS MONUMENTED BY A Yr"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 Yr"
PLASTIC CAP LS 17658",
THENCE N0°56'04"W ALONG THE WEST LINE OF THE NORTHWEST QUARTER
OF SAID SECTION 35 A DISTANCE OF 1,308 95 FEET TO THE POINT OF
BEGINNING,
THE BASIS OF BEARINGS FOR THESE LEGAL DESCRIPTIONS IS BETWEEN
THE FOUND MONUMENTS ON THE WEST LINE OF THE SOUTHWEST
QUARTER OF SAID SECTION 26 THE BEARING OF SAID LINE IS
N0°04'4rW
EXCEPTING THEREFROM A PARCEL OF LAND SITUATED IN THE SOUTH
EAST QUARTER OF SAID SECTION 26 TOWNSHIP 4 NORTH RANGE 67 WEST
OF THE 6TH P M , COUNTY OF WELD, STATE OF COLORADO, BEING THE
FORT ST VRAIN MONUMENT SITE AS DESCRIBED IN BOOK 1341 AT PAGE
177 SAID RECORDS OF WELD COUNTY, COLORADO BEING MORE
PARTICULARLY DESCRIBED AS FOLLOWS
A RECTANGULAR PARCEL OF LAND 106 FEET WIDE AND 127 FEET LONG,
MARKED AT THE CORNERS WITH CONCRETE BLOCKS, BEING THE SITE OF
OLD FORT ST VRAIN", AS SHOWN ON THE PLAT OF THE TOWN OF FORT
ST VRAIN (NOW VACATED), AND BEING ON A PARCEL OF LAND SHOWN ON
SAID PLAT BORDERED ON THE NORTH BY ROUBIDOUX AVENUE, ON THE
EAST BY CERAN PLACE, ON THE SOUTH BY SARPEY AVENUE AND ON THE
WEST BY KIOWA STREET, AND, AT THE APPROXIMATE CENTER OF
WHICH IS SITUATE "FORT ST VRAIN MONUMENT", ERECTED IN THE YEAR
1911 BY CENTENNIAL STATE CHAPTER, DAUGHTERS OF THE AMERICAN
REVOLUTION, AND BEING LOCATED IN THE SOUTHEAST QUARTER OF
SECTION 26, TOWNSHIP 4 NORTH, RANGE 67 WEST OF THE 6TH P M , THE
PLAT OF FORT ST VRAIN BEING ON FILE IN THE OFFICE OF THE COUNTY
CLERK AND RECORDER OF WELD COUNTY, COLORADO,
AND ALSO EXCEPTING THAT PORTION CONVEYED TO PUBLIC SERVICE
COMPANY IN DEED RECORDED OCTOBER 21, 1925 IN BOOK 772 AT PAGE 204,
SAID RECORDS OF WELD COUNTY, COLORADO, BEING MORE
PARTICULARLY DESCRIBED AS FOLLOWS
COMMENCING AT A POINT ON THE SOUTH LINE OF SECTION 26,
TOWNSHIP 4 NORTH, RANGE 67 WEST OF THE 6TH P M AT ITS
INTERSECTION WITH THE EASTERLY RIGHT OF WAY LINE OF THE
GREAT WESTERN RAILROAD, AS NOW CONSTRUCTED AND OPERATED,
SAID POINT BEING NORTH 89°23' WEST 1878 FEET FROM THE SOUTHEAST
CORNER OF SAID SECTION 26, RUNNING THENCE NORTH 3°01' WEST
722 6 FEET ALONG SAID EASTERLY RIGHT OF WAY LINE TO THE PLACE
OF BEGINNING, RUNNING THENCE NORTH 3°01' WEST 47 5 FEET ALONG
SAID EASTERLY RIGHT OF WAY LINE, THENCE NORTH 86°59' EAST 50
FEET, THENCE SOUTH 3°01' EAST 47 5 FEET, THENCE SOUTH 86°59' WEST
50 FEET TO THE PLACE OF BEGINNING, ALSO COMMENCING AT A POINT
ON THE SOUTH LINE OF SECTION 26, TOWNSHIP 4 NORTH, RANGE 67
WEST OF THE 6TH P M , AT ITS INTERSECTION WITH THE EASTERLY RIGHT
OF WAY LINE OF THE GREAT WESTERN RAILROAD, AS NOW CONSTRUCTED
AND OPERATED, SAID POINT BEING NORTH 89°23' WEST 1878 FEET FROM
THE SOUTI IEAST CORNER OF SAID SECTION 26, THENCE NORTH 3°01' WEST
991 4 FEET ALONG SAID EASTERLY RIGHT OF WAY LINE, THENCE NORTH
86°59' EAST 187 6 FEET TO THE PLACp OF BEGINNING, RUNNING THENCE
SOUTH 74°34' EAST 75 FEET, THENCE SOUTH 15°26' WEST 100 FEET, THENCE
NORTH 74°34' WEST 75 FEET, THENCE NORTH
15°26' EAST 100 FEET TO THE PLACE OF BEGINNING THE NORTH SIDE OF
THE ABOVE DESCRIBED TRACT OF LAND IS ADJACENT TO THE SOUTH SIDE
OF THE RUINS OF FT SAINT VRAIN AS SAID RUINS ARE NOW MARKED WITH
CORNER MONUMENTS
****
Lots 1 —39, all inclusive, Central Weld Land Survey Plat, recorded in the Weld County Clerk
and Recorder's Office at Reception No 4093867, County of Weld, State of Colorado
****
LOCATED IN THE SOUTH HALF OF SECTION 29, TOWNSHIP 1 NORTH, RANGE
65 WEST OF THE 6TH PRINCIPAL MERIDIAN,
COUNTY OF WELD, STATE OF COLORADO
A PORTION OF LOT 1, AMENDED RECORDED EXEMPTION NO 1473-29-4-
AMRE-412 RECORDED JANUARY 14, 2003 AT RECEPTION NO 3023607
IN THE RECORDS OF WELD COUNTY AND A PORTION OF PARCEL A,
RECORDED EXEMPTION 1473-29-4 RE 411 RECORDED SEPTEMBER 11,
1979 AT RECEPTION NO 1802825 IN THE RECORDS OF WELD COUNTY,
LOCATED IN THE SOUTH HALF OF SECTION 29, TOWNSHIP 1 NORTH,
RANGE 65 WEST OF THE 6TH P M , COUNTY OF WELD, STATE OF
COLORADO
CONSIDERING THE EAST LINE OF THE SOUTHEAST QUARTER OF SAID
SECTION 29 TO BEAR SOUTH 00"22'57" EAST, A DISTANCE OF 2650 67
FEET BETWEEN THE EAST QUARTER CORNER AND SOUTHEAST
CORNER OF SAID SECTION 29, WITH ALL BEARINGS
CONTAINED HEREIN RELATIVE THERETO
COMMENCING AT THE EAST QUARTER CORNER OF SAID SECTION 29,
THENCE
SOUTH 67"13'11" WEST, A DISTANCE OF 1707 28 FEET TO A POINT ON
THE NORTH LINE OF SAID LOT 1, SAID POINT ALSO BEING THE POINT
OF BEGINNING, THENCE DEPARTING SAID NORTH LINE SOUTH 22"40'38"
WEST, A DISTANCE OF 64 30 FEET, THENCE SOUTH 13"28'24" WEST, A
DISTANCE OF
988 72 FEET TO A POINT OF CURVATURE, THENCE ALONG THE ARC
OF A CURVE TO THE LEFT HAVING A RADIUS OF 160 00', AN ARC
LENGTH OF 53 97 FEET, AN INCLUDED ANGLE OF 19"19'37", BEING
SUBTENDED BY A CHORD BEARING SOUTH 03"48'35" WEST, A
DISTANCE OF
53 72 FEET, THENCE SOUTH 05"51'13" EAST, A DISTANCE OF 92 08 FEET TO A
POINT OF CURVATURE, THENCE ALONG THE ARC OF A CURVE TO
THE LEFT HAVING A RADIUS OF
100 00 FEET, AN ARC LENGTH OF 70 47 FEET, AN INCLUDED ANGLE OF
40"22'37", BEING SUBTENDED BY A CHORD BEARING SOUTH 26"02'31"
EAST, A DISTANCE OF 69 02 FEET, THENCE SOUTH 46"13'50" EAST, A
DISTANCE OF 554 63 FEET TO A POINT OF CURVATURE, THENCE ALONG
THE ARC OF A CURVE TO THE RIGHT HAVING A RADIUS OF 55 00
FEET, AN ARC LENGTH OF 43 88 FEET, AN INCLUDED ANGLE OF
45"42'57", BEING SUBTENDED BY A CHORD BEARING SOUTH 23"22'21"
EAST, A DISTANCE OF 42 73 FEET, THENCE SOUTH 00"30'53" EAST, A
DISTANCE OF 321 12 FEET TO A POINT ON THE NORTH RIGHT-OF-
WAY
LINE OF WELD COUNTY ROAD NO 4, THENCE ALONG SAID NORTH
LINE SOUTH 89"29'07" WEST, A DISTANCE OF 1272 32 FEET, THENCE
SOUTH 00"01'18" EAST, A DISTANCE OF 30 00 FEET
TO A POINT ON THE SOUTH LINE OF SAID PARCEL A, THENCE
ALONG THE SOUTHERLY LINE
OF SAID PARCEL A THE FOLLOWING THREE COURSES, SOUTH 89"41'25"
WEST, A DISTANCE OF
492 05 FEET, THENCE NORTH 29"53'38" WEST, A DISTANCE OF 352 11
FEET, THENCE SOUTH 89"41'36" WEST A DISTANCE OF 1530 19 FEET, TO
A POINT ON THE EAST RIGHT-OF-WAY LINE OF INTERSTATE 76,
THENCE ALONG SAID EAST RIGHT-OF-WAY THE
FOLLOWING TEN COURSES,NORTH 18"26'33" EAST, A DISTANCE OF
412 52 FEET, THENCE NORTH 27"55'03" EAST, A DISTANCE OF 234 01
FEET, THENCE SOUTH 89"29'13" WEST, A DISTANCE OF 73 99 FEET,
THENCE NORTH 3 5 °3 11 0 6 " EAST, A DISTANCE OF 276.38 FEET, THENCE
NORTH 85"11'35" EAST, A DISTANCE OF 417 02 FEET, THENCE SOUTH
87"28'36" EAST, A DISTANCE OF 70 55 FEET, THENCE NORTH 88"44'58"
EAST, A DISTANCE OF 31 51 FEET, THENCE NORTH 01"11'36" WEST, A
DISTANCE OF 191 89 FEET, THENCE NORTH 45"50'57" WEST, A DISTANCE OF
290 94 FEET, THENCE NORTH 35"31'06" EAST, A DISTANCE OF 502 41 FEET TO THE
NORTHWEST CORNER OF SAID LOT 1, THENCE DEPARTING SAID EAST RIGHT-
OF-WAY AND ALONG THE NORTH LINE OF SAID LOT 1 NORTH 88"31'01" EAST,
A DISTANCE OF 2346 11 FEET TO THE POINT OF BEGINNING
CONTAINING 5,047,323 SQ FT OR 115 87 ACRES MORE OR LESS
And
A PORTION OF LOT 1, AMENDED RECORDED EXEMPTION NO 1473-29-4-AMRE-
412 RECORDED JANUARY 14, 2003 AT RECEPTION NO 3023607 IN THE
RECORDS OF WELD COUNTY AND A PORTION OF PARCEL A, RECORDED
EXEMPTION 1473-29-4 RE 411 RECORDED SEPTEMBER 11, 1979 AT RECEPTION
NO 1802825 IN THE RECORDS OF WELD COUNTY, LOCATED IN THE
SOUTHEAST QUARTER OF SECTION 29, TOWNSHIP 1 NORTH, RANGE 65 WEST
OF THE 6TH P M , COUNTY OF WELD, STATE OF COLORADO
CONSIDERING THE EAST LINE OF THE SOUTHEAST QUARTER OF SAID SECTION
29 TO BEAR SOUTH 00°22'57" EAST, A DISTANCE OF 2650 67 FEET BETWEEN THE
EAST QUARTER CORNER AND SOUTHEAST CORNER OF SAID SECTION 29, WITH
ALL BEARINGS CONTAINED HEREIN RELATIVE THERETO
COMMENCING AT THE EAST QUARTER CORNER OF SAID SECTION 29, THENCE
ALONG THE EAST LINE OF THE SOUTHEAST QUARTER OF SAID SECTION 29
SOUTH 00°22'57" EAST, A DISTANCE OF 620 21 FEET TO THE NORTHEAST
CORNER OF SAID LOT 1, SAID POINT ALSO BEING THE POINT OF
BEGINNING, THENCE CONTINUING ALONG SAID EAST LINE SOUTH 00°22'57"
EAST, A DISTANCE OF 2000 46 FEET TO A POINT ON THE NORTH RIGHT-OF-
WAY LINE OF WELD COUNTY ROAD NO 4, THENCE ALONG SAID NORTH
LINE, SOUTH 89"29'07" WEST, A DISTANCE OF 1390 33 FEET, THENCE
DEPARTING SAID NORTH LINE NORTH 00°30'53" WEST, A DISTANCE OF 321 12
FEET TO A POINT OF CURVATURE, THENCE ALONG THE ARC OF A CURVE
TO THE LEFT HAVING A RADIUS OF 55 00 FEET, AN ARC LENGTH 43 88 FEET, AN
INCLUDED ANGLE OF 45°42'57", BEING SUBTENDED BY A CHORD BEARING
NORTH 23°22'21" WEST, A DISTANCE OF
42 73 FEET, THENCE NORTH 46°13'50" WEST, A DISTANCE OF 554 63 FEET TO A
POINT OF CURVATURE, THENCE ALONG THE ARC OF A CURVE TO THE RIGHT
HAVING A RADIUS OF
100 00 FEET, AN ARC LENGTH OF 70 47 FEET, AN INCLUDED ANGLE OF 40°22'37",
BEING SUBTENDED BY A CHORD BEARING NORTH 26"02'31" WEST, A
DISTANCE OF 69 02 FEET, THENCE NORTH 05°51'13" WEST, A DISTANCE OF
92 08 FEET TO A POINT OF CURVATURE, THENCE ALONG THE ARC OF A
CURVE TO THE RIGHT HAVING A RADIUS OF 160 00 FEET, AN ARC LENGTH
OF 53 97 FEET, AN INCLUDED ANGLE OF 19°19'37", BEING SUBTENDED BY A
CHORD BEARING NORTH 03°48'35" EAST, A DISTANCE OF 53 72 FEET,
THENCE NORTH 13°28'24" EAST, A DISTANCE OF 988 72 FEET, THENCE
NORTH 22°40'38" EAST, A DISTANCE OF 64 30 FEET TO A POINT ON THE NORTH
LINE OF SAID LOT 1, THENCE ALONG SAID NORTH LINE, NORTH 88°31'01"
EAST, A DISTANCE OF 1578 77 FEET TO A POINT ON THE EAST LINE OF
THE SOUTHEAST QUARTER OF SAID SECTION 29, SAID POINT ALSO BEING THE
POINT OF BEGINNING
CONTAINING 3,272,156 SQ FT OR 75 12 ACRES MORE OR LESS
And
A PARCEL OF LAND, LOCATED IN SECTION 32, TOWNSHIP 1 NORTH,
RANGE 65 WEST, OF THE 6TH P M , COUNTY OF WELD, STATE OF
COLORADO
CONSIDERING THE EAST LINE OF THE NORTHEAST QUARTER OF SAID
SECTION 32 TO BEAR SOUTH 0 0 °51 1 14" EAST, A DISTANCE OF 2645 80
FEET BETWEEN THE NORTHEAST CORNER AND EAST QUARTER CORNER
OF SAID SECTION 32, WITH ALL BEARINGS
CONTAINED HEREIN RELATIVE THERETO
COMMENCING AT THE EAST QUARTER CORNER OF SAID SECTION 32,
THENCE
ALONG A LINE THAT BEARS SOUTH 7 4°331 46 " WEST, A DISTANCE OF
2551 53 FEET TO A POINT ON THE SOUTHERLY RIGHT-OF-WAY OF OF
THE EAST BURLINGTON DITCH, PER THAT PLAT RECORDED AT
EXEMPTION NO 1473-32-4 RE-4578 IN THE RECORDS OF WELD
COUNTY, SAID POINT ALSO BEING THE POINT OF BEGINNING,
THENCE NORTH 04°24'01" EAST, A DISTANCE OF
108 55 FEET, THENCE NORTH 53°58'00" WEST, A DISTANCE OF 420 30
FEET, THENCE NORTH 35°031 26" WEST, A DISTANCE OF 113 05
FEET, THENCE NORTH 51 °5 3 1 2 4" WEST, A DISTANCE OF 329 77 FEET,
THENCE NORTH 55 52'35" WEST, A DISTANCE OF 765 41 FEET TO A
POINT OF CURVATURE, THENCE ALONG THE ARC OF A NON-TANGENT
CURVE TO THE RIGHT HAVING A RADIUS OF 1684 57 FEET, AN ARC
LENGTH OF 581 58 FEET, AN INCLUDED ANGLE OF 19°46'51", BEING
SUBTENDED BY A CHORD BEARING NORTH 41°38'55" WEST, A
DISTANCE OF
578 70 FEET TO A POINT OF NON-TANGENT REVERSE CURVATURE,
THENCE ALONG THE ARC
OF A NON-TANGENT CURVE TO THE LEFT HAVING A RADIUS OF
187 85 FEET, AN ARC LENGTH OF 125 74 FEET, AN INCLUDED ANGLE OF
38°21'09", BEING SUBTENDED BY A CHORD BEARING NORTH 47°21'42"
WEST, A DISTANCE OF 123 41 FEET, THENCE NORTH 59 °0 8 1 3 5 " WEST,
A DISTANCE OF 457 27 FEET TO A POINT OF CURVATURE, THENCE
ALONG THE ARC OF A
NON-TANGENT CURVE TO THE RIGHT HAVING A RADIUS OF 876 59
FEET, AN ARC LENGTH OF
442 76 FEET, AN INCLUDED ANGLE OF 28°56'24", BEING SUBTENDED BY
A CHORD BEARING NORTH 57°42'15"' WEST, A DISTANCE OF 438 07 FEET,
THENCE NORTH 39°48'02" WEST, A DISTANCE OF 449 76 FEET TO A POINT
ON THE EAST RIGHT-OF-WAY LINE OF INTERSTATE HIGHWAY 76, THENCE
A DISTANCE OF 478 60 FEET, THENCE NORTH 89°37'00" EAST, A
DISTANCE OF 150 00 FEET,
THENCE NORTH 81°051 15" EAST, A DISTANCE OF 606 70 FEET, THENCE
DEPARTING SAID
RIGHT-OF-WAY,NORTH 0 0 °2 3 1 0 0 " WEST, A DISTANCE OF 42 00 FEET
TO A POINT ON THE NORTH LINE OF SECTION 32, THENCE ALONG
THE NORTH LINE OF SAID SECTION 32, NORTH 89°41'25" EAST, A
DISTANCE OF 1337 08 FEET, THENCE DEPARTING SAID NORTH LINE,
SOUTH
49 °3 9 1 0 8 " WEST, A DISTANCE OF 40 35 FEET, THENCE SOUTH 28 °5 2
1 5 7 " WEST, A DISTANCE OF 194 39 FEET TO A POINT OF CURVATURE,
THENCE ALONG THE ARC OF A CURVE TO THE LEFT HAVING A
RADIUS OF 115 00 FEET, AN ARC LENGTH OF 96 88 FEET, AN
INCLUDED ANGLE OF 48°15'56", BEING SUBTENDED BY A CHORD
BEARING SOUTH 04°44'59" WEST, A
DISTANCE OF 94 04 FEET, THENCE SOUTH 19 °2 2 1 5 9 " EAST, A
DISTANCE OF 105 63 FEET TO A POINT OF CURVATURE, THENCE ALONG
THE ARC OF A CURVE TO THE RIGHT HAVING A RADIUS OF 200 00
FEET, AN ARC LENGTH OF 93 87 FEET, AN INCLUDED ANGLE OF
26°53'33", BEING SUBTENDED BY A CHORD BEARING SOUTH 05°56'13"
EAST, A DISTANCE OF 93 01 FEET, THENCE SOUTH 07°30'33" WEST, A
DISTANCE OF 335 78 FEET TO A POINT OF CURVATURE, THENCE
ALONG THE ARC OF A CURVE TO THE LEFT HAVING A RADIUS OF
200 00 FEET, AN ARC LENGTH OF 144 79 FEET, AN INCLUDED ANGLE
OF 41"28'46", BEING SUBTENDED BY A CHORD BEARING SOUTH
13°13'50" EAST, A DISTANCE OF 141 65, THENCE SOUTH 33°58'13" EAST,
A DISTANCE OF 654 18 FEET, THENCE SOUTH 29°28'35" EAST, A
DISTANCE OF 292 14 FEET, THENCE SOUTH 20°00'50" EAST, A
DISTANCE OF 602 39 FEET, THENCE SOUTH 37°59'36" EAST, A
DISTANCE OF 202 64 FEET TO A POINT OF CURVATURE, THENCE
ALONG THE ARC OF A NON-TANGENT CURVE TO THE RIGHT HAVING
A RADIUS OF 500 00 FEET, AN ARC LENGTH OF 387 38 FEET, AN
INCLUDED ANGLE OF 44°23'27", BEING SUBTENDED BY A CHORD
BEARING SOUTH 09°29'08" EAST, A DISTANCE OF 377 77 FEET TO A
POINT OF REVERSE CURVATURE, THENCE ALONG THE ARC OF A
CURVE TO THE LEFT HAVING A RADIUS OF 200 00 FEET,AN ARC LENGTH
OF 88 31 FEET, AN INCLUDED ANGLE OF 25°17'52", BEING SUBTENDED BY
A CHORD BEARING SOUTH 00°03'39" WEST, A DISTANCE OF 87 59
FEET, THENCE SOUTH 12°35'17" EAST, A DISTANCE OF 66 23 FEET TO
A POINT OF CURVATURE, THENCE ALONG THE ARC OF A CURVE TO
THE RIGHT HAVING A RADIUS OF 290 00 FEET, AN ARC LENGTH OF
87 12 FEET, AN INCLUDED ANGLE OF 17°12'41", BEING SUBTENDED BY
A CHORD BEARING SOUTH 03°58'56" EAST, A DISTANCE OF 86 79
FEET, THENCE SOUTH
04°37'24" WEST, A DISTANCE OF 87 15 FEET TO A POINT OF CURVATURE,
THENCE ALONG THE ARC OF CURVE TO THE RIGHT HAVING A RADIUS
OF 190 00 FEET, AN ARC LENGTH OF 365 91 FEET, AN INCLUDED ANGLE
OF 110°20'38", BEING SUBTENDED BY A CHORD BEARING SOUTH
59 4743" WEST, A DISTANCE OF 311 93 FEET, THENCE NORTH
65°01'58" WEST, A DISTANCE
OF 74 13 FEET TO THE POINT OF BEGINNING
SAID PARCEL CONTAINING 5,155,375 SQ FT OR 118 35 ACRES MORE
OR LESS
And
LOT A AND A PORTION OF LOT B, RECORDED EXEMPTION NO 1473-32-1-
RE2278 RECORDED AUGUST 25, 1998 AT RECEPTION NO 2635491 IN THE
RECORDS OF WELD COUNTY AND PORTIONS OF THE NORTH HALF OF
SECTION 32, TOWNSHIP 1 NORTH, RANGE
65 WEST OF THE 6TH P M , COUNTY OF WELD, STATE OF COLORADO
CONSIDERING THE EAST LINE OF THE NORTHEAST QUARTER OF SAID
SECTION 32 TO BEAR SOUTH 00"51'14" EAST, A DISTANCE OF 2645 80 FEET
BETWEEN THE NORTHEAST CORNER AND EAST QUARTER CORNER OF
SAID SECTION 32, WITH ALL BEARINGS
CONTAINED HEREIN RELATIVE THERETO
COMMENCING AT THE NORTHEAST CORNER OF SAID SECTION 32,
THENCE ALONG THE EAST LINE OF THE NORTHEAST
QUARTER OF SAID SECTION 32 SOUTH 00"51'14" EAST, A DISTANCE OF
40 00 FEET TO A POINT ON THE SOUTH RIGHT-OF-WAY LINE OF WELD
COUNTY ROAD NO 4, SAID POINT ALSO BEING THE POINT OF
BEGINNING, THENCE CONTINUING ALONG SAID EAST LINE SOUTH
00"51'14" EAST, A DISTANCE OF 2605 80 FEET TO THE EAST QUARTER
CORNER OF SAID SECTION 32, THENCE
ALONG THE SOUTH LINE OF SAID NORTHEAST QUARTER SOUTH 89"29'04"
WEST, A DISTANCE OF 2133 71 FEET TO A POINT OF CURVATURE,
THENCE DEPARTING SAID SOUTH LINE ALONG A NON-TANGENT CURVE
TO THE LEFT HAVING A RADIUS OF 500 00 FEET, AN ARC LENGTH OF
177 17 FEET, AN INCLUDED ANGLE OF 20"18'06", BEING SUBTENDED BY A
CHORD BEARING NORTH 21"31' 48" WEST, A DISTANCE OF 176 24 FEET,
THENCE NORTH 37"59'36" WEST, A DISTANCE OF 202 64 FEET, THENCE
NORTH 20"00'50" WEST, A DISTANCE OF 602 39 FEET, THENCE NORTH
29"28'35" WEST, A DISTANCE OF 292 14 FEET, THENCE NORTH 33"58'13"
WEST, A DISTANCE OF 654 18 FEET TO A POINT OF CURVATURE,
THENCE ALONG THE ARC OF A CURVE TO THE RIGHT HAVING A
RADIUS OF 200 00 FEET, AN ARC LENGTH OF 144 79 FEET, AN INCLUDED
ANGLE OF 41"28'47", BEING SUBTENDED BY A CHORD BEARING NORTH
13"13'50" WEST, A DISTANCE OF 141 65 FEET, THENCE NORTH
07"30'33" EAST, A DISTANCE OF 335 78 FEET TO A POINT OF
CURVATURE, THENCE ALONG THE ARC OF A CURVE TO THE LEFT
HAVING A RADIUS OF 200 00 FEET, AN ARC LENGTH OF
93 87 FEET, AN INCLUDED ANGLE OF 26"53'33", BEING SUBTENDED BY
A CHORD BEARING NORTH 05"56'13" WEST, A DISTANCE OF 93 01 FEET,
THENCE NORTH 19"22'59" WEST, A DISTANCE OF 105 63 FEET TO A
POINT OF CURVATURE, THENCE ALONG THE ARC OF A CURVE TO THE
RIGHT HAVING A RADIUS OF 115 00 FEET, AN ARC LENGTH OF 96 88
FEET, AN INCLUDED ANGLE OF 48"15'56", BEING SUBTENDED BY A
CHORD BEARING NORTH 04 44'59" EAST, A DISTANCE OF 94 04 FEET,
THENCE NORTH 28"52'57" EAST, A DISTANCE OF 194 39 FEET, THENCE
NORTH 49"39'08" EAST, A DISTANCE OF 40 35 FEET, THENCE NORTH
89"41'25" EAST, A DISTANCE OF 23712 FEET, THENCE SOUTH 01"02'16"
EAST, A DISTANCE OF 40 00 FEET TO A POINT ON THE SOUTH RIGHT-
OF-WAY LINE OF WELD COUNTY ROAD NO 4 THENCE ALONG SAID
SOUTH RIGHT-OF-WAY,NORTH 89°29'07" EAST, A DISTANCE OF 2662 72 FEET
TO A POINT ON THE EAST LINE OF THE NORTHEAST QUARTER OF SAID SECTION
32, SAID POINT ALSO BEING THE POINT OF BEGINNING
CONTAINING 7,057,275 SQ FT OR 162 01 ACRES MORE OR LESS
And
A PARCEL OF LAND, LOCATED IN SECTION 32, TOWNSHIP 1 NORTH,
RANGE 65 WEST OF THE 6TH P M , COUNTY OF WELD, STATE OF
COLORADO
CONSIDERING THE EAST LINE OF THE NORTHEAST QUARTER OF SAID
SECTION 32 TO BEAR SOUTH 0 0 °51 1 14" EAST, A DISTANCE OF 2645 80
FEET BETWEEN THE NORTHEAST CORNER AND EAST QUARTER CORNER
OF SAID SECTION 32, WITH ALL BEARINGS
CONTAINED HEREIN RELATIVE THERETO
COMMENCING AT THE EAST QUARTER CORNER OF SAID SECTION 32,
THENCE
ALONG A LINE THAT BEARS SOUTH 7 4°3 31 46 " WEST, A DISTANCE OF
2551 53 FEET TO A POINT ON THE SOUTHERLY RIGHT-OF-WAY OF OF
THE EAST BURLINGTON DITCH, PER THAT PLAT RECORDED AT
I
EXEMPTION NO 1473-32-4 RE-4578 IN THE RECORDS OF WELD
COUNTY, SAID POINT ALSO BEING THE POINT OF BEGINNING,
THENCE NORTH 65°01'58" WEST, A DISTANCE OF
124 19 FEET ALONG SAID SOUTHERLY RIGHT-OF-WAY OF THE EAST
BURLINGTON DITCH TO A POINT OF CURVATURE, THENCE ALONG THE
ARC OF A CURVE TO THE LEFT HAVING A RADIUS OF 90 00 FEET, AN
ARC LENGTH OF 190 35 FEET, AN INCLUDED ANGLE OF 121°10'58", BEING
SUBTENDED BY A CHORD BEARING SOUTH 5 4°2 2 1 3 3 " WEST, A
DISTANCE OF 156 81 FEET, THENCE SOUTH 06°121 56" EAST, A DISTANCE
OF 135 53 FEET, THENCE SOUTH 89°32'04"
WEST, A DISTANCE OF 2599 73 FEET TO A POINT ON THE WEST LINE
OF THE SOUTHWEST
QUARTER OF SAID SECTION 32, THENCE
LINE OF THE NORTHWEST QUARTER OF SAID SECTION 32, NORTH
01°10'26" WEST, A DISTANCE OF 1659 69 FEET TO THE EAST RIGHT-OF-
WAY LINE OF INTERSTATE HIGHWAY 76, THENCE
DISTANCE OF 9510 FEET, THENCE NORTH 10°14'18" EAST, A
DISTANCE OF 23 22 FEET, THENCE DEPARTING SAID EAST RIGHT-OF-
WAY LINE, SOUTH 39°48'02" EAST, A DISTANCE OF
449 76 FEET TO A POINT OF CURVATURE, THENCE ALONG THE ARC
OF A NON-TANGENT
CURVE TO THE LEFT HAVING A RADIUS OF 876 59 FEET, AN ARC
LENGTH OF 442 76 FEET,
AN INCLUDED ANGLE OF 28°56'24", BEING SUBTENDED BY A CHORD
BEARING SOUTH 57°42'15"'EAST, A DISTANCE OF 438 07 FEET, THENCE
SOUTH 59°08'35" EAST, A DISTANCE OF 457 27 FEET TO A POINT OF
CURVATURE, THENCE ALONG THE ARC OF A NON-TANGENT CURVE
TO THE RIGHT HAVING A RADIUS OF 187 85 FEET, AN ARC LENGTH
OF 125 74 FEET, AN
INCLUDED ANGLE OF 38°21'09", BEING SUBTENDED BY A CHORD
BEARING SOUTH 47°21'42"'EAST, A DISTANCE OF 123 41 FEET TO A POINT
OF REVERSE CURVATURE, THENCE ALONG THE ARC OF A NON-
TANGENT REVERSE CURVE HAVING A RADIUS OF 1684 57 FEET, AN
ARC LENGTH OF 581 58 FEET, AN INCLUDED ANGLE OF 19°46'51", BEING
SUBTENDED BY A CHORD BEARING SOUTH 41°38'55" EAST,A DISTANCE OF
578 70 FEET, THENCE SOUTH 55°52'35" EAST, A DISTANCE OF 765 41 FEET,
THENCE SOUTH 51°531 2 4" EAST, A DISTANCE OF 329 77 FEET, THENCE
SOUTH 35°03'26" EAST, A DISTANCE OF 113 05 FEET, THENCE SOUTH
53°58'00"EAST, A DISTANCE OF 420 30 FEET, THENCE SOUTH 04°24'01" WEST, A
DISTANCE OF 108 55 TO A POINT ON THE SOUTH RIGHT-OF-WAY LINE OF THE
BULL CANAL, SAID POINT ALSO BEING THE POINT OF BEGINNING
SAID PARCEL CONTAINING 4,012,267 SQ FT OR 92 11 ACRES MORE OR LESS
And
A PARCEL OF LAND, LOCATED IN THE SOUTH HALF OF SECTION 32,
TOWNSHI
P 1 NORTH, RANGE 65 WEST OF THE 6TH P M , COUNTY OF WELD,
STATE OF COLORADO
CONSIDERING THE EAST LINE OF THE SOUTHEAST QUARTER OF SAID
SECTION 32 TO BEAR SOUTH 00°51'04" EAST, A DISTANCE OF 2645 70
FEET BETWEEN THE EAST QUARTER CORNER AND SOUTHEAST
CORNER OF SAID SECTION 32, WITH ALL BEARINGS
CONTAINED HEREIN RELATIVE THERETO
COMMENCING AT THE EAST QUARTER CORNER OF SAID SECTION 32,
THENCE ALONG THE NORTH LINE OF THE
SOUTHEAST QUARTER OF SAID SECTION 32 SOUTH 89°29'04" WEST, A
DISTANCE OF 1478 92 FEET TO THE POINT OF BEGINNING, THENCE ALONG
THE ARC OF A NON-TANGENT CURVE TO THE RIGHT
HAVING A RADIUS OF 203 95 FEET, AN ARC LENGTH OF 118 43 FEET,
AN INCLUDED ANGLE OF 33°1611O", BEING SUBTENDED BY A CHORD
BEARING SOUTH 0 5 °45 1 5 8 11 WEST, A DISTANCE OF 116 77 FEET TO A
POINT OF REVERSE CURVATURE, THENCE ALONG THE ARC OF A REVERSE
CURVE TO THE LEFT HAVING A RADIUS OF 260 00 FEET, AN ARC LENGTH
OF 113 27 FEET, AN INCLUDED ANGLE OF 2 4"571 4111 , BEING
SUBTENDED BY A CHORD BEARING SOUTH 09°55'12" WEST, A DISTANCE
OF 112 38 FEET, THENCE SOUTH 02 33'39" EAST, A DISTANCE OF 639 54
FEET TO A POINT OF CURVATURE, THENCE ALONG THE ARC OF A
CURVE TO THE LEFT HAVING A RADIUS OF 220 00 FEET, AN ARC
LENGTH OF
159 35 FEET, AN INCLUDED ANGLE OF 41°3 0 ' 0 5 11 , BEING SUBTENDED
BY A CHORD BEARING SOUTH 23°18'41" EAST, A DISTANCE OF 155 89
FEET, THENCE SOUTH 44°03'44" EAST, A DISTANCE OF 224 39 FEET TO
A POINT OF CURVATURE, THENCE ALONG THE ARC OF A CURVE TO
THE RIGHT HAVING A RADIUS OF 320 00 FEET, AN ARC LENGTH OF
411 49 FEET,
AN INCLUDED ANGLE OF 73°40'38", BEING SUBTENDED BY A CHORD
BEARING NORTH 07°13'25" WEST, A DISTANCE OF 383 72 FEET TO A
POINT OF REVERSE CURVATURE, THENCE ALONG THE ARC OF A
REVERSE CURVE HAVING A RADIUS OF 300 00 FEET, AN ARC LENGTH
OF
156 22 FEET, AN INCLUDED ANGLE OF 29°5 01 11 11 , BEING
SUBTENDED BY A CHORD BEARING SOUTH 14°41'48" WEST, A DISTANCE
OF 154 46 FEET, THENCE SOUTH 00°13'17" EAST, A DISTANCE OF 611 75
FEET, THENCE SOUTH 05°29'01" WEST, A DISTANCE OF 304 64 FEET
TO A POINT ON THE NORTH LINE OF THE 60 FOOT RIGHT-OF-WAY FOR
168TH AVENUE, THENCE ALONG SAID NORTH LINE OF 168TH AVENUE,
SOUTH 89°25'43" WEST, A DISTANCE OF 762 41 FEET TO A POINT ON
THE EAST LINE OF THE MOUNTAIN STATES LINE CONSTRUCTORS LOT
A OF EXEMPTION NO 1473-32-4 RE-4578 AS SHOWN IN THE RECORDS
OF WELD COUNTY, THENCE CONTINUING ALONG SAID LOT A FOR
THE FOLLOWING NINE (9)
COURS
ES, 1) NORTH 09°34'58" EAST, A DISTANCE OF 78 88 FEET, 2) NORTH
00°27'43" EAST, A DISTANCE OF
175 44 FEET TO A POINT OF CURVATURE, 3) THENCE ALONG THE ARC
OF A CURVE TO THE LEFT HAVING A RADIUS OF 411 78 FEET, AN
ARC LENGTH OF 200 39 FEET, AN INCLUDED ANGLE OF 27°52'55',
BEING SUBTENDED BY A CHORD BEARING NORTH 13°22'25" WEST, A
DISTANCE OF 198 42 FEET, 4)NORTH 27°16'46"' WEST, A DISTANCE OF 284 12
FEET, 5)NORTH 34°521 48 11 WEST, A DISTANCE OF 135 51 FEET, 6)
NORTH 20°02'02" WEST, A DISTANCE
OF 373 84 FEET, 7) NORTH 25 50'05" WEST, A DISTANCE OF 253 14
FEET TO A POINT OF CURVATURE, 8) THENCE ALONG THE ARC OF A
CURVE TO THE LEFT HAVING A RADIUS OF 308 65 FEET, AN ARC LENGTH OF
121 08 FEET, AN INCLUDED ANGLE OF 22°28'34", BEING SUBTENDED BY A
CHORD BEARING NORTH 37°00'41" WEST, A DISTANCE OF 120 30 FEET, 9)
NORTH 48"43'14" WEST, A DISTANCE OF 53 25 FEET TO A POINT ON THE
WEST LINE OF THE SOUTHEAST QUARTER OF SECTION 32,
THEN
CE ALONG THE WEST LINE OF THE SOUTHEAST QUARTER OF SECTION 32,
NORTH 01°05'02" WEST, A DISTANCE OF 263 60 FEET, THENCE LEAVING THE
WEST LINE OF THE SOUTHEAST QUARTER OF SECTION 32, SOUTH 89"32'04"
WEST, A DISTANCE OF 46 29 FEET, THENCE NORTH 06°12'56" WEST, A
DISTANCE OF 135 53 FEET TO A POINT OF CURVATURE, THENCE ALONG
THE ARC OF CURVE TO THE RIGHT HAVING A RADIUS OF 90 00 FEET, AN
ARC LENGTH OF 190 35 FEET, AN INCLUDED ANGLE OF 121°10'58", BEING
SUBTENDED BY A CHORD BEARING NORTH 54°22'33" EAST, A DISTANCE
OF 156 81 FEET, THENCE SOUTH 65°01'58" EAST, A DISTANCE OF 198 32
FEET TO A POINT OF CURVATURE, THENCE ALONG THE ARC OF A CURVE
TO THE LEFT
HAVING A RADIUS OF 190 00 FEET, AN ARC LENGTH OF 365 91 FEET, AN
INCLUDED ANGLE OF
110°20'38", BEING SUBTENDED BY A CHORD BEARING NORTH 59 47'43"
EAST, A DISTANCE OF
311 93 FEET, THENCE NORTH 04°37'24" EAST, A DISTANCE OF 87 15 FEET TO A
POINT OF CURVATURE, THENCE ALONG THE ARC OF A CURVE TO THE
LEFT HAVING A RADIUS OF
290 00 FEET, AN ARC LENGTH OF 87 12 FEET, AN INCLUDED ANGLE OF
17°12'41", BEING SUBTENDED BY A CHORD BEARING NORTH 03°58'56" WEST,
A DISTANCE OF 86 79 FEET, THENCE NORTH 12"35'17" WEST,A DISTANCE OF
66 23 FEET TO A POINT OF CURVATURE, THENCE ALONG THE ARC OF A
CURVE TO THE RIGHT HAVING A RADIUS OF 200 00 FEET, AN ARC LENGTH
OF 88 31 FEET, AN INCLUDED ANGLE OF 25°17'52", BEING SUBTENDED BY A
CHORD BEARING NORTH 00 03'39" EAST, A DISTANCE OF 87 59 FEET TO A
POINT OF REVERSE CURVATURE, THENCE ALONG THE ARC OF A REVERSE
CURVE TO THE LEFT HAVING A RADIUS OF 500 00 FEET, AN ARC LENGTH
OF 210 22 FEET, AN INCLUDED ANGLE OF 24°05'20", BEING SUBTENDED BY
A CHORD BEARING NORTH 00 39'55" EAST, A DISTANCE OF
208 67 FEET TO A POINT ON THE NORTH LINE OF THE SOUTHEAST
QUARTER OF SAID
SECTION 32, THENCE ALONG SAID NORTH LINE NORTH 89°29'04" EAST, A
DISTANCE OF
654 78 FEET TO THE POINT OF BEGINNING
SAID PARCEL CONTAINING 2,476,172 SQ FT OR 56 85 ACRES MORE OR
LESS
And
A PORTION OF LOT B, RECORDED EXEMPTION NO 1473-32-4 RE-4578
RECORDED MARCH 15, 2007 AT RECEPTION NO 3462194 IN THE RECORDS OF
WELD COUNTY AND PORTIONS OF THE SOUTHEAST QUARTER OF SECTION
32, TOWNSHIP 1 NORTH, RANGE 65 WEST OF THE 6TH P M , COUNTY OF
WELD, STATE OF COLORADO
CONSIDERING THE EAST LINE OF THE SOUTHEAST QUARTER OF SAID
SECTION 32 TO BEAR SOUTH 00°51'04" EAST, A DISTANCE OF 2645 70 FEET
BETWEEN THE EAST QUARTER CORNER AND SOUTHEAST CORNER OF
SAID SECTION 32, WITH ALL BEARINGS
CONTAINED HEREIN RELATIVE THERETO
BEGINNING AT THE EAST QUARTER CORNER OF SAID SECTION 32,
THENCE
ALONG THE EAST LINE OF THE SOUTHEAST QUARTER OF SAID SECTION
32 SOUTH 00°51'04" EAST, A DISTANCE OF 2645 70 FEET TO THE
SOUTHEAST CORNER OF SAID SECTION 32, THENCE
ALONG THE SOUTH LINE OF SAID SOUTHEAST QUARTER, SOUTH 89°25'
43" WEST, A DISTANCE OF 210 00 FEET, THENCE DEPARTING SAID
SOUTH LINE NORTH 00°51'04" WEST, A DISTANCE OF 30 00 FEET TO
THE SOUTHEAST CORNER OF SAID LOT B, THENCE ALONG THE SOUTH
LINE OF SAID LOT B, SOUTH 89°25' 43" WEST, A DISTANCE OF 1110 25
FEET, THENCE DEPARTING SAID SOUTH LINE,NORTH 0 5 029 1 0 1" EAST,
A DISTANCE OF 304 64 FEET, THENCE NORTH 00 °13 1 17 " WEST, A
DISTANCE OF 611 75 FEET TO A POINT OF CURVATURE, THENCE
ALONG THE ARC OF
A CURVE TO THE RIGHT HAVING A RADIUS OF 300 00 FEET, AN ARC
LENGTH OF 156 22 FEET,
AN INCLUDED ANGLE OF 29"50'11", BEING SUBTENDED BY A CHORD
BEARING NORTH 14"41'48" EAST, A DISTANCE OF 154 46 FEET TO A POINT
OF REVERSE CURVATURE, THENCE ALONG THE ARC OF A REVERSE
CURVE TO THE LEFT HAVING A RADIUS OF 320 00 FEET, AN ARC
LENGTH OF 411 49 FEET, AN INCLUDED ANGLE OF 73°40'38", BEING
SUBTENDED BY A CHORD BEARING NORTH 07°13'25" WEST, A DISTANCE
OF 383 72 FEET, THENCE NORTH 4 4°0 3 1 4 4"
WEST, A DISTANCE OF 224 39 FEET TO A POINT OF CURVATURE,
THENCE ALONG THE ARC OF A CURVE TO THE RIGHT HAVING A RADIUS
OF 220 00 FEET, AN ARC LENGTH OF 159 35 FEET, AN INCLUDED ANGLE OF 41
°3 0 1 0 5 ", BEING SUBTENDED BY A CHORD BEARING NORTH 23 '181 41"
WEST, A DISTANCE OF 155 89 FEET, THENCE NORTH 02"33'39" WEST, A
DISTANCE OF 639 54 FEET TO A POINT OF CURVATURE, THENCE ALONG
THE ARC OF A CURVE TO THE RIGHT HAVING A RADIUS OF 260 00 FEET,
AN ARC LENGTH OF 113 27 FEET, AN INCLUDED ANGLE OF 24°57'41",
BEING SUBTENDED BY A CHORD BEARING NORTH 09"55'12" EAST, A
DISTANCE OF
112 38 FEET TO A POINT OF REVERSE CURVATURE, THENCE ALONG THE
ARC OF A REVERSE CURVE TO THE LEFT HAVING A RADIUS OF 203 95
FEET, AN ARC LENGTH OF 118 43 FEET, AN INCLUDED ANGLE OF
33"16'10", BEING SUBTENDED BY A CHORD BEARING NORTH 05"45'58"
EAST, A DISTANCE OF 116 77 FEET TO A POINT ON THE NORTH LINE OF
THE SOUTHEAST QUARTER OF SAID SECTION 32, THENCE ALONG SAID
NORTH LINE,NORTH 89"29'04" EAST, A DISTANCE OF 1478 92 FEET TO THE
EAST QUARTER CORNER OF SAID SECTION 32, SAID POINT ALSO BEING THE
POINT OF BEGINNING
CONTAINING 3,569,838 SQ FT OR 81 95 ACRES MORE OR LESS
***
That property recorded in the Weld County Clerk and Recorder's Office at Reception No
096527200026-27, all inclusive, County of Weld, State of Colorado
Exhibit B Vicinity Map
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EXHIBIT C - 1
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WGS 1984 Web Mercator Auxiliary_Sphere current, or otherwise reliable
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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,
WGS 1984Web Mercator Auxiliary__Sphere current, or otherwise reliable.
c Weld County Colorado THIS MAP IS NOT TO BE USED FOR NAVIGATION
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PLATTE RIVER METROPOLITAN
DISTRICT
INFRASTRUCTURE PROJECTS
PREPARED FOR :
PLATTE RIVER METROPOLITAN DISTRICT
8301 East Prentice Avenue , Suite 100
Greenwood Village , CO 80111
PREPARED BY :
Civil Resources , LLC
323 5th Street
P . O . Box 680
Frederick , CO 80530
Ph : 303-833- 1416
DATE PREPARED : SEPTEMBER , 2019
CIVIL RES'OURCES , LLC
I NglNtl RS h PIANNCIt5 September 2019
PLATTE RIVER METROPOLITAN DISTRICT - INFRASTRUCTURE PROJECTS
ACKNOWLEDGMENTS
The technical material in this report, "Platte River Metropolitan District Infrastructure Projects" was prepared by Civil
Resources, LLC under the supervision and direction of the undersigned whose seat as a professional engineer is affixed
below:
\�.\\,�t�t!l t;►i i!I!11!///jl,j�,
- Ao° REGIS ./,,
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Brad L. Hagen , P . E . `
•
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eto " 0. .0
//f 'S/0 N at/J111!1 ; IttOr
The following members of Civil Resources, LLC staff contributed to the study and the preparation of this report:
Project Manager: Brad L . Hagen , P . E .
TABLE OF CONTENTS
Page
1 0 PROJECT INTRODUCTION 1
2 0 INFRASTRUCTURE PROJECTS 1
21 Section 25 Reservoir 1
2 2 Milliken Diversion&Return 1
2 3 Drouhard Recharge 1
2 4 70 Ranch Recharge 2
3 0 ENGINEER'S OPINION OF CONSTRUCTION COST 2
- 4 0 CONCLUSIONS 2
PRMD-Infrastructure September 2019
-In-
10 INTRODUCTION
Platte River Metropolitan Distnct("PRMD") intends to construct a series of infrastructure projects including
conveyance infrastructure,water storage facilities and recharge sites to produce a reliable water rights
program to support Front Range development and the associated increase in water demands
2 0 INFRASTRUCTURE PROJECTS
Several infrastructure projects have been identified as critical infrastructure to the development and
solidification of District's water rights portfolio The projects are generally described below
21 Section 25 Reservoir
Section 25 Reservoir is proposed for construction primarily within Section 25, 5N, 63W of the 6th PM in Weld
County, Colorado The reservoir will be filled via the Riverside Canal by gravity for storage below the ditch
level and by pumping for the upper storage A check structure within the ditch and forebay on its north bank
will be constructed to deliver flows into a pipe or series of pipes for delivery to the reservoir The pump
station is anticipated to be capable of delivering up to 200 cfs to storage or directly to the 70 Ranch
Recharge Facilities The water stored in Section 25 Reservoir will be delivered back to the South Platte or
to the 70 Ranch Recharge facilities for accretion credits
2 2 Milliken Diversion&Return
A large diversion structure capable of diverting 100 cfs at average river level is proposed on the north side
of the Site on the South Platte River The outlet structure identified in the 404/442 Decree in Section 26,will
also serve as a diversion structure and is more specifically located as on the South Platte River downstream
of its confluence with St Vrain Creek in approximately the NE%of the SW%of Section 26,Township 4
North, Range 67 West of the 6th P M ,Weld County, Colorado
The diversion will be constructed in the upland area and divert water into a pipeline or series of pipes will
deliver the water via gravity to fill the North Cell up to the river level at an approximate maximum rate of 100
cfs Once the reservoir fills to the river level a gate will be closed and a pump station will be used to fill the
remainder of the reservoir(s)
2 3 Drouhard Recharge
The Site has a total area of approximately 126 acres and is located in the Southwest Quarter of Section 30,
Township 04 North, Range 66 West The site is bound to the north by a farm field,Weld County Road
(WCR)25 5 to the east,WCR 40 to the south and WCR 25 to the west Refer Figure 1
The Site was previously an irrigated agricultural field with multiple oil and gas wells and facilities including
two large tank sites located along the northern property line and existing homes located around the
perimeter of the site The farm was irrigated with water from the FIDCO ditch located approximately one-
half mile to the south of the site Water was diverted through the headgate and into an open ditch that
conveyed the water to the northwest where the ditch turns to the north along the east side of WCR 25 5 to
the southeast corner of the site where a 12-inch steel pipe discharges the water into the existing concrete
ditch that parallels WCR 40 Water flows to the west in the existing concrete ditch where it flows into an
existing 12-inch pipe that conveys the water to the forebay located by the center pivot pond It is estimated
the existing conveyance system can deliver a maximum of 1 2 cfs to the Site A preliminary geotechnical
investigation included two(2) bore holes(DR-1 and DR-3)completed to depths of 55-and 60-feet
respectively The site was also potholed in six(6) locations each to a depth of approximately 10-feet The
results of the bore holes and potholes indicate that 2-to 3-feet of topsoil/overburden overlays approximately
52-feet of mostly sand with some silt, medium dense to dense(SM, SP)with groundwater ranging from 10-
PRMD-Infrastructure September 2019
-1-
to 21-feet below existing grade
In addition to water delivered to Drouhard via the existing irrigation laterals, a waterline from Milliken
Reservoir to Drouhard recharge is planned and a second waterline from alluvial groundwater wells proposed
near the Town of Gilcrest to control high groundwater levels are proposed to deliver water to the Site The
likely routes are shown schematically on the attached figures
2 4 70 Ranch Recharge
Large portions of 70 Ranch north of Riverside Canal are sand hills with large valleys that could be used to
recharge water and create accretion credits These areas were evaluated and included in numerous
recharge ponds with varying accretion times and retiming wells for control of the system
3 0 ENGINEER'S OPINION OF CONSTRUCTION COST
No opinions of cost were prepared for initial report on infrastructure proposed for construction by PRWD
4 0 CONCLUSIONS
The proposed infrastructure is typical for development and management of water rights and is constructible
PRMD-Infrastructure September 2019
-2-
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Table 1
Opinion of Construction Cost
Drouhard Recharge Facility LAYOUT C2
Mobilization&Site Preparation
Item# Item Qty Unit Unit Cost Total Cost Notes
1 Mobilization 1 LS $50 000 $50 000
2 Clear&Gmb 25 AC $1200 $30000
Subtotal= $80000
Site Work
Item# Item Qty Unit Unit Cost Total Cost Notes
3 Silt Fence 2 600 LF $1.25 $3,250 Along off-site ditch
4 Cell Outfall Boxes 2 EA 510 000 $20 000
5 Forebay Junction Structure 6 CY $750 $4 500
6 36 RCP 1 845 LF $180 5332 100 Between cells
7 36"RCP FES 4 EA $4 500 $18 000 Dishcarge in cells
8 Revegetation 1 LS $25,500 $25,500 17 ac S1,500/ac
Subtotal= $403,350
Inflow Infrastructure
Remit Item Qty Unit Unit Cost Total Cost Notes
9 Modify Headwall on FIDCO Ditch 1 LS $25 000 $25 000
10 24"Canal Gate 1 EA $15 000 $15 000
11 24°RCP 18 LF $168 53 024
12 Off-Site Conc Trapezoidal Ditch 2 560 LF $75 S192 000 $600fcy
13 29°x45°Elfiphcal RCP Under WCR255&40 110 EA $216 $23,760
Subtotal= $253,784
Earthwork
Item# Item Qfy Unit Unit Cost Total Cost Notes
14 General Cut/Fig 50 000 CY $750 $375 000 Unadjusted volumes
15 Type L Riprap wfType II Bedding 635 CY $60 00 $38100 Pipe outlets
16 Roadbase 1960 CY $32.00 562 720 Top of Berm
Subtotal= $475,820
Summary
Mobilization&Site Preparahon $80 000
Site Work $403350
Inflow Infrastructure $258 784
Earthwork $475 820
Total Construction Cost Estimate= $1,217,954
Design&Constr Obsery @ 6%= $73 000
Contingency @ 20%= $244 000
Subtotal= $317 000
Total Project Cost= $1 534,954
J\tinted Water&San 1411PRMDiCost Est rnatelCostEst-PRMDads
Table 2
Opinion of Construction Cost
Maliken Diversion
Mobdrzabon 8 Site Preparation
Item S Item Qty Unit Unit Cost Total Cost Notes
1 Mobilization 1 LS $100 000 $100 000
2 Surveying 1 LS $15 000 $15 000
Subtotal= S115000
Site Work
Item S Item Oty Unit Unit Cost Total Cost Notes
3 Diversion Structure 1 LS $600 00000 $600 000
4 Pump Station 1 LS $2 500 000 $2 500 000
Subtotal= $3,100,000
Summary
Mobilization&Site Preparation $115 000
Site Work $3 100 000
Total Construction Cost Estimate= 53,215,000
Design&Constr Obsery @ 6%= $193,000
Contingency @ 20%= $643 000
Subtotal= S836 000
Total Project Cost= S4 051,000
J IUnied Water&San 141IPRMDICost EstanalelCoaiEsl PRMDxis
Table 3
Opinion of Construction Cost
Section 25 Reservoir
Mobilization 8 Site Preparation
Item# Item Qty Unit Unit Cost Total Cost Notes
1 Mobilization 1 LS $1 000 000 $1 000 000
2 Surveying 1 LS $50,000 $50,000
Subtotal= $1,050,000
Site Work
Item# Item Qty Unit Unit Cost Total Cost Notes
3 36 RCP 4,150 LF $180 5747,000
Subtotal= $747,000
Inflow infrastructure
Item# Item Qty Unit Unit Cost Total Cost Notes
4 Pump Station 1 LS $3 000 000 $3 000 000
5 Diversion Structure 1 LS $400 000 $400 000
6 Emergency Spillway 1 LS $500,000 $500,000
Subtotal= $3,900,000
Earthwork
Item# Item Qty Unit Unit Cost Total Cost Notes
7 GeneralCut1F11 17700000 CY $260 $46020000
8 Liner Area 15 874,589 SF $050 $7 937 295
Subtotal= $53,957 295
Summary
Mobilization 8 Site Preparation $1 050 000
Site Work $747 000
Inflow Infrastructure $3 900 000
Earthwork $53 957 295
Total Construction Cost Estimate= $59,654,295
Design 8 Constr Obsery§6%= $3 579 000
Contingency @ 20%= $11 931 000
Subtotal= $15,510000
Total Project Cost= $75,164,295
JAUnned Waters San 141iPRM01Cost 6amatelCostEs4PRMDaas
Table 4
Opinion of Construction Cost
70 Ranch Recharge Ponds
Mobilization 8 Site Preparation
Item# Item Qty Unit Unit Cost Total Cost Notes
1 Mobilization 1 LS $100000 $100 000
2 Surveying 1 LS $40 000 540 000
Subtotal= $140,000
Site Work
Item it Item Qty Unit Unit Cost Total Cost Notes
3 36"RCP 4,374 LF $180 $787 320 from ditch and connecbng
Subtotal= $787,320
Infowlnkastiucturn
Item IS Item Oty Unit Unit Cost Total Cost Notes
4 Flume 4 EA S75 000 $300 000
5 Outlet Control Structure 4 EA $7,000 $28 000
Subtotal= $328 000
Earthwork
Item# Item Qty Unit Unit Cost Total Cost Notes
6 General Cut/Fill 475 320 CY $2 60 $1 235 832
7 Riprap 1 LS $100 000 00 $100 000
Subtotal= $1,335 832
Summary
Mobilization&Site Preparation $140 000
Site Work 5787 320
Inflow Infrastructure $328 000
Earthwork 81335832
Total Construction Cost Estimate= $2 591,152
Dann&Constr Obsery @6%= $155 000
Contingency @ 20%= $518 000
Subtotal= 8673000
Total Project Cost= $3,264,152
Cost Estimate includes costs construction of Pond 7A 7B 8A&8B for a total area of 93 2 acres
J Waited Water a San 14tiPRMDICOst EstlmatelCostEst PRMD.r°s
EXHIBIT E
FINANCIAL PLAN
Capital
Markets
RBC
Platte River Metropolitan District : Service Plan Submission
Plan of Finance and Summary of Financing Assumptions
We have prepared the following Financial Plan for the initial formation of the Platte River Metropolitan District . This
Financial Plan is based upon development information that has been provided to us by the District Organizer .
Based upon the assumptions below, the Financial Plan demonstrates that the District has the ability to finance the
public improvements identified within the Service Plan and will be capable of discharging that indebtedness on a
reasonable basis . It is anticipated that the District will impose rents , fees and charges for providing water supply
on a wholesale basis . build water infrastructure and related . appurtenant non-water infrastructure to serve
development. These revenues along with any mill levy on taxable property within the District will be used as the
sources of revenue for repayment of District debt and for operations and maintenance of the District. In order to
estimate the potential bonding capacity of the District we have set forth certain revenue requirements based upon
current investor acceptance in the municipal bond market.
This forecast is based upon certain assumptions with facts and circumstances as we know them today and sets
forth an estimation of revenue to be generated by the District for the reasonable discharge of any debt . Since
events and circumstances frequently do not occur as expected there will usually be differences between the
forecasted and actual results . Depending on the revenue source and timing the bonding capacity will vary based
upon actual results . We believe the following financial plan and results are reasonable and attainable in today's
market.
District Financial Plan
The financing plan proposes future fees and charges to be applied to future users of the proposed public
improvements including the wholesale purchase of water. Since fees can fluctuate over time based upon
usage of the facilities the investor market requires a higher debt service coverage ratio . As a result of the
financial modeling . the following table outlines the revenue required to achieve various bonding levels for the
District utilizing fees/service charges only and not including any property taxes . It is anticipated that the
District will issue debt at the appropriate time as the capital markets will allow .
Platte River Metropolitan District
Fee Based Debt Ca • - c
Estimated Total Estimated
Estimated Senior Tax Total Required Annual
Total Bonding Debt Service Exempt Financing District Revenue
Capacity Coverage Interest Rate Term for Debt Service
$ 1 ,000 .000 1 .25 6 .0 % 20 Years $ 110 ,000
S5 .000 .000 1 . 25 6 .0 % 20 Years $ 550 ,000
$ 10 ,000 .000 1 .25 6 .0 % 20 Years $ 1 ,090 .000
$25 ,000 .000 1 .25 6 .0 % 20 Years $2 ,730 .000
$50 .000 .000 1 .25 6 .0 % 20 Years $ 5 .450 ,000
$ 100 .000 .000 1 .25 6 .0 % 20 Years $ 10 , 900 ,000
$ 200 . 000 ,000 1 .25 6 .0 % 20 Years $21 ,800 ,000
The financing plan also allows for the imposition of a debt mill levy on future inclusion properties for the
construction and maintenance of the proposed public improvements . As a result of the financial modeling , the
following table outlines the revenue required to achieve various bonding levels for the District . This assumes
assessed value to be generated from residential and commercial properties . If there is a significant amount of the
1 I PLATTE RIVER METROPOLITAN DISTRICT SERVICE PLAN SUBMISSION
value generated from oil/gas properties the financing term will be shortened to ten years or less . This is primarily
based upon the average life of the facilities and tax revenues to be generated . It is anticipated that the District will
issue debt at the appropriate time as the capital markets will allow based on the buildout at that point in time .
Platte River Metropolitan District
Ad Valorem Debt Capacity
Estimated Total Estimated Total Estimated
Estimated Senior Tax Total Required Annual Required
Total Bonding Debt Service Exempt Financing District Revenue District AV @ 50
Capacity Coverage Interest Rate Term for Debt Service Mills
$ 1 ,000 ,000 1 .25 6 .0 % 20 Years $ 110 .000 $ 2 .200 ,000
$ 5 .000 .000 1 .25 6 .0 % 20 Years $550 ,000 $ 11 .000 ,000
$ 10 ,000 ,000 1 .25 6 .0 % 20 Years $ 1 ,090 ,000 $21 , 800 ,000
$ 25 .000 ,000 1 .25 6 .0 % 20 Years $2 ,730 .000 $ 54 .600 .000
$ 50 .000 , 000 1 .25 6 .0 % 20 Years $ 5 ,450 ,000 S109 .000 .000
$ 100 ,000 .000 1 .25 6 .0 % 20 Years $ 10 .900 .000 $218 .000 ,000
8200 ,000 , 000 1 .25 6 .0 % 20 Years $21 ,800 .000 $436 .000 ,000
All of the revenues pledged to debt service are dependent solely upon the ability of the District to achieve the
revenue projections . Note that these revenue values assume level debt service overall and project the revenue
needed for debt service upon stabilization . RBC Capital Market believes this financial plan to be reasonable based
on the information provided to us and our financial assumptions .
2 I PLATTE RIVER METROPOLITAN DISTRICT SERVICE PLAN SUBMISSION
SERVICE PLAN FOR.
PLATTE RIVER METROPOLITAN DISTRICT,
WELD COUNTY, COLORADO
Prepared by :
Miller & Associates Law Offices, LLC
1641 California Street, Suite 300
Denver CO 80202
Submitted : June 27, 2019
Approved :
TABLE OF CONTENTS
I . INTRODUCTION 1
A . Purpose and Intent 1
B . Need for the District 1
C. Objective of the County Regarding District's Service Plant
II. DEFINITIONS 2
III. BOUNDARIES 4
W . PROPOSED LAND USE AND ASSESSED VALUATION 4
V. DESCRIPTION OF PROPOSED POWERS , IMPROVEMENTS AND SERVICES 4
A . Powers of the District and Service Plan Amendment 4
1 . Operations and Maintenance Limitation
2 . Construction Standards Limitation 5
3 . Privately Placed Debt Limitation 5
4. Inclusion Limitation 5
5 . Initial Debt Limitation 6
6 . Total Debt Issuance Limitation 6
7 . Monies from Other Governmental Sources 6
8 . Consolidation Limitation +
9 . Eminent Domain Limitation 6
10 . Service Plan Amendment Requirement
B . Primary Infrastructure Plan . . 7
VI . FINANCIAL PLAN 7
A. General 7
B . Maximum Voted Interest Rate and Maximum Underwriting Discount S
C. Maximum Debt Mill Levy S
D. Maximum Debt Mill Levy Imposition Term 8
E . Debt Repayment Sources 9
F . Security for Debt 9
G. TABOR Compliance 9
H. District's Operating Costs 9
I. Elections 1 0
VII . ANNUAL REPORT 10
A . General 10
B . Reporting of Significant Events 10
VIII. DISSOLUTION 11
I . PROPOSED AND EXISTING INTERGOVERNMENTAL AGREEMENTS AND
EXTRATERRITORIAL SERVICE AGREEMENTS 11
X. MATERIAL MODIFICATIONS 11
XL CONCLUSION 12
LIST OF EXHIBITS
EXHIBIT A Legal Descriptions
EXHIBIT B Vicinity Map
EXHIBIT C- 1 Initial District Boundary Map
EXHIBIT C-2 Inclusion Area Boundary Map
EXHIBIT D Primary Infrastructure Plan
EXHIBIT E Financial Plan
I. INTRODUCTION
A . Purpose and Intent.
The District is an independent unit of local government, separate and distinct from the County and,
except as may otherwise be provided for by state or local law or this Service Plan, its activities are subject
to review by the County only insofar as they may deviate in a material matter from the requirements of
this Service Plan. It is intended that the District will provide a part or all of the Public Improvements for
the use and benefit of all anticipated taxpayers and service users of the District. The purposes of the
District will be : a) to finance the construction of Public Improvements and to provide water on a
"wholesale" basis to other governments or entities that provide water to individual users , and b) to
provide maintenance of the Public Improvements.
This Service Plan has been prepared in accordance with Article XIV of Chapter 2 of the County
Code .
B . Need for the District.
There are currently no other governmental entities , including the County, that consider it desirable ,
feasible or practical to undertake the planning, design, acquisition, construction, installation, relocation,
redevelopment and financing of the Public Improvements needed for the Project. Formation of the
District is therefore necessary in order for the Public Improvements required for the Project to be
provided in the most economic manner possible .
C. Objective of the County Regarding District's Service Plan.
The County's objective in approving the Service Plan for the District is to authorize the District to
provide for the planning, design, acquisition , construction, installation, relocation and redevelopment of
the Public Improvements from the proceeds of Debt to be issued by the District or from revenues received
from government and other entities through intergovernmental agreements, or from fees, rates, tolls and
charges imposed by the District or by other governments. Any Debt that is issued from tax revenues
levied by the District is expected to be repaid by taxes imposed and collected for no longer than the
Maximum Debt Mill Levy Imposition Term and at a tax mill levy no higher than the Maximum Debt Mill
Levy. Debt which is issued within these parameters (as further described in the Financial Plan) will
insulate property owners from excessive tax burdens to support the servicing of the Debt and will result in
a timely and reasonable discharge of the Debt.
This Service Plan is intended to establish a limited purpose for the District and explicit financial
constraints that are not to be violated under any circumstances . The District anticipates it will provide for
the Public Improvements associated with the Project and those regional improvements necessitated by the
Project. Ongoing operational and maintenance activities are allowed , but only as specifically addressed in
this Service Plan, and only to the extent that the District has sufficiently demonstrated that such
operations and maintenance functions are in the best interest of the County and the existing and future
taxpayers and service users of the District. In no case shall the mill levies imposed by the District for
debt service and operations and maintenance functions exceed the Aggregate Mill Levy Cap.
It is not the intent of the District to dissolve due to the complex and ongoing maintenance functions
for the Public Improvements .
The District shall be authorized to finance those Public Improvements that can be funded from: a)
Debt to be repaid from tax revenues collected within the boundaries of the District from a mill levy which
shall not exceed the Maximum Debt Mill Levy and which shall not exceed the Maximum Debt Mill Levy
Imposition Term, or b) revenues received by the District from other governments, or c) fees, rates, tolls
and charges imposed by the District through intergovernmental agreements , or d) fees, rates, tolls and
charges imposed directly by the District on property within its boundaries. It is the intent of this Service
Plan to assure to the extent possible that no taxable property bear an economic burden that is greater than
that associated with the Maximum Debt Mill Levy in amount and that no property bear an economic
burden that is greater than that associated with the Maximum Debt Mill Levy Imposition Term in
duration, even under bankruptcy or other unusual situations. However, the District is authorized to
construct and acquire facilities without resort to financing and anticipates that it will construct and acquire
Public Improvements utilizing both Debt, revenue financing and through direct payment.
11 . DEFINITIONS
In this Service Plan, the following terms shall have the meanings indicated below, unless the
context hereof clearly requires otherwise :
Aggregate Mill Levy Cap means the maximum aggregate mill levy the District is permitted to
impose for debt service and operations and maintenance, as set forth in Subsection VIE below.
Approved Development Plan means a development plan or other process established by the
County (including but not limited to approval of a Planned Unit Development final plan or
Subdivision final plat by the BOCC) for identifying, among other things, Public Improvements
necessary for facilitating development for property within the Service Area as approved by the
County pursuant to the County Code and as amended pursuant to the County Code from time to
time .
Board means the Board of Directors of the District.
BOCC means the Board of County Commissioners of the County of Weld , Colorado .
Bond, Bonds or Debt means bonds or other obligations for the payment of which the District
has promised to impose an ad valorem property tax mill levy.
County means the County of Weld, Colorado.
County Code means the Weld County Code , as the same may be amended from time to time .
District means the Platte River Metropolitan District.
External Financial Advisor means a consultant that: ( 1 ) advises Colorado governmental
entities on matters relating to the issuance of securities by Colorado governmental entities,
including matters such as the pricing, sales and marketing of such securities and the procuring of
bond ratings, credit enhancement and insurance in respect of such securities ; (2) shall be an
underwriter, investment banker or individual listed as a public finance advisor in the Bond Buyer's
Municipal Market Place; and (3 ) is not an officer or employee of the District.
Financial Plan means a Financial Plan described in Section VI below which is prepared by an
External Financial Advisor in accordance with the requirements of the County Code and describes :
(a) how Public Improvements are to be financed ; (b) how the Debt is expected to be incurred; and
(c) the estimated operating revenue derived from property taxes for the first budget year.
Inclusion Area Boundaries means the boundaries of the area described in the Inclusion Area
Boundary Map, if any.
Inclusion Area Boundary Map means the map attached hereto as Exhibit -2 , describing the
property proposed for inclusion within the District (if any) in the future .
Initial District Boundaries means the boundaries of the area described in the Initial District
Boundary Map.
Initial District Boundary Map means the map attached hereto as Exhibit C- 1 , describing the
District's initial boon e • ries .
Maximum Debt Mill Levy means the maximum mill levy the District is permitted to impose
for payment of Debt as set forth in Subsection VI. C below .
Maximum Debt Mill Levy Imposition Term means the maximum term for imposition of a mill
levy as set forth in Subsection VI.D below .
Primary Infrastructure Plan means the Primary Infrastructure Plan described in Subsection
V.B below, which includes a description of the Public Improvements to be developed by the
District; and (b) an estimate of the cost of the Public Improvements .
Project means water supply. water infrastructure and related, appurtenant non-water
infrastructure to serve development .
Public Improvements means a part or all of the improvements authorized to be planned,
designed, acquired, constructed , installed, relocated, redeveloped and financed as generally
described in the Special District Act, except as specifically limited in Section V below to serve the
future taxpayers and service users of the Service Area as determined by the Board of the District,
Service Area means the property land within the Initial District Boundary Map and the land
within the Inclusion Area Boundary Map. Service Area also includes all property land subject to
intergovernmental agreements between the District and other units of local government located
within Weld County.
Service Plan means this service plan for the District approved by the BOCC .
Service Plan Amendment means an amendment to the Service Plan approved by the BOCC in
accordance with applicable state law.
Special District Act means Section 32- 1 - 101 et seq. , C .I . S . , as amended from time to time .
State means the State of Colorado.
Total Debt Issuance Limitation means the total Debt the District is authorized to issue , as set
forth in Paragraph V . A . 6 below and supported by a Financial Plan .
III. BOUNDARIES
The area of the Initial District Boundaries includes approximately 54 acres, and the total area
proposed to be included in the Inclusion Area Boundaries is approximately 16,427 . 03 acres . A legal
description of the Initial District Boundaries and the Inclusion Area Boundaries is attached hereto as
Exhibit A. A map of the Initial District Boundaries is attached hereto as Exhibit C- 1 , and a map of the
Inclusion Area Boundaries is attached hereto as Exhibit C-2 . A vicinity map is attached hereto as Exhibit
B . It is anticipated that the District's Boundaries may change from time to time as it undergoes inclusions
and exclusions pursuant to Section 32- 1 -401 et seq. , C . R. S ., and Section 32- 1 -501 et seq . , C . R. S . , subject
to the limitations set forth in Article V below.
IV. PROPOSED LAND USE AND ASSESSED VALUATION
The Service Area consists of approximately 16, 535 . 06 acres of land. The current assessed
valuation of the Service Area land is assumed to be 5887 ,520 for purposes of this Service Plan.
The Service Area consists of approximately 16, 481 . 03 acres of land. The current assessed
valuation of the Service Area is assumed to be S887, 060 for purposes of this Service Plan.
Approval of this Service Plan by the County does not imply approval of the development of a
specific area within the District, nor does it imply approval of the number of residential units or the total
site/floor area of commercial or industrial buildings which may be identified in this Service Plan or any of
the exhibits attached thereto, unless the same is contained within an Approved Development Plan.
V. DESCRIPTION OF PROPOSED POWERS , IMPROVEMENTS AND SERVICES
A . Powers of the District and Service Plan Amendment.
The District shall have the power and authority 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 herein. The District shall not provide potable water service to any land within its Initial Boundaries
or its Inclusion Area Boundaries if such land is already included within the boundaries of another water
district unless that water district consents to the provision of service by this District; or, if the water
provider is an entity other than a water district, then the BOCC mustconsent to the provision of potable
water service by this District. All Public Improvements constructed by the District shall be located within
Weld County.
If, after the Service Plan is approved, the State Legislature includes additional powers or grants
new or broader powers for Title 32 districts by amendment of the Special District Act, no such powers
shall be available to or exercised by the District unless the District publishes forty-five-day notice and
provides written notice to the BOCC pursuant to Section 32- 1 -207(3 )(b) , C. R. S . If, within forty-five (45)
days of the publication of such notice , the BOCC expresses to the District a written objection to the
proposed exercise of such new or broader powers, then the exercise of the same by the District without
the prior written consent of the BOCC shall be considered a material modification of the Service Plan and
shall be resolved in accordance with Section 32- 1 -207(2) , C. R. S .
1 . The purpose of the District is to plan for, design, acquire, construct, install, relocate, redevelop
and finance the Public Irn-irovements and to -provide oieration and maintenance of the Public
Improvements under agreements with other entities and local governments . Public Improvements
constructed by the District using public funds derived from Weld County property taxes shall be located
solely within the boundaries of Weld County.
,
4-2 . Construction standards limitation. The District will ensure that the Public Improvements
are designed and constructed in accordance with the standards and specifications all governmental
entities having proper jurisdiction, as applicable. The District will obtain all applicable permits for
construction and installation of Public Improvements prior to performing such work.
3 . Privately placed debt limitation. Prior to the issuance of any privately placed Debt, the
District shall obtain the certification of an External Financial Advisor substantially as follows :
We are [I am] an External Financial Advisor within the meaning of the District's Service Plan .
We [I] certify that ( 1 ) the net effective interest rate (calculated as defined in Section 32- 1 - 103 (12),
C.R. S . ) to be borne by the District for the [insert the designation of the Debt] does not exceed a
reasonable current [ tax-exempt] [taxable] interest rate, using criteria deemed appropriate by us [me] and
based upon our [my] analysis of comparable high yield securities; and (2) the structure of [insert the
designation of the Debt] , including maturities and early redemption provisions, is reasonable
considering the financial circumstances of the District.
4. Inclusion and exclusion limitations . The District shall not include within its boundaries
any property outside the Service Area without the prior written consent of the BOCC . Inclusions
or exclusions not described in this Service Plan shall require a forty five day notice publication and
written notice to the BOCC pursuant to Section 32 1 207( 3 )( b ) , C . R. S . If. within forty five ( 45 )
days of the publication of such notice, the BOCC expresses to the District a written objection to the
proposed inclusion or exclusion, then the proposed inclusion or exclusion shall be considered a
material modification of the Service Plan and shall be resolved in accordance with Section 32 1
207(2) , C . R. S .
For inclusions or exclusions of property, forty-five (45 ) days written notice of the proposed
inclusion or exclusion shall be given to the Board of County Commissioners in the manner
specified in Section 32- 1 -207 (2)( b) , C. R. S . If within 45 days of the receipt of such notice, the
Board of County Commissioners provides to the District a written objection to the proposed
inclusion or exclusion, then the proposed inclusion or exclusion shall be considered a material
modification of the Service Plan and shall be resolved in accordance with Section 32- 1 -207 (2) ,
C. R. S . All inclusions and exclusions will comply with the provisions of Title 32 requiring
publication of notice of the public hearing by the District on the inclusion or exclusion petition.
The District shall not include any property within its boundaries that are within the boundaries
of another Title 32 district unless the other Title 32 district consents to the simultaneous exclusion
of Dro- erty and causes such exclusion to occur. The purpose of this provision is to �Drohibit
overlapping districts on property within a single tax year.
5 . Reserved .Use of Water. To the extent of the District' s ownership of storage in any
reservoir, and subject to carriage, evaporation and evapotranspiration losses for such water, the
water stored and released in the District' s storage space shall be used for : ( a ) direct non-potable
delivery to water users within Weld County, Colorado ; (b) augmentation of depletions which, if
not augmented, would have an impact on any river, stream or groundwater located in Weld
County, Colorado ; ,: c ) replacement of diversions by release of such stored water into a river or
stream, a canal or a recharge or other groundwater management facility in Weld County
Colorado ; or, (d) exchange or transfer to another reservoir to facilitate either (a ), (b ) or ( c ) above.
6. Total debt issuance limitation. The District shall not issue Debt in excess of
$200,000, 000. To the extent the District seeks to modify the Total Debt Issuance Limitation , it
shall proceed in accordance with Subsection 2- 14-20 . I of the County Code .
7. Monies from other governmental sources . The District shall not apply for or accept
Conservation Trust Funds, Great Outdoors Colorado Funds or other funds available from or
through governmental or nonprofit entities for which the County is eligible to apply, except
pursuant to an intergovernmental agreement with the County. This Section shall not apply to
specific ownership taxes which shall be distributed to and a revenue source for the District without
any limitation.
8. Consolidation limitation. The District shall not file a request with any court to
consolidate with another Title 32 district without the prior written consent of the County.
9. Eminent domain limitation. The District shall not exercise its statutory power of eminent
domain, except as may be necessary to construct, install, access, relocate or redevelop the Public
Improvements identified in the Primary Infrastructure Plan. Any use of eminent domain shall be
undertaken strictly in compliance with state law. Any proposed use of eminent domain for a
purpose other than as may be necessary to complete the Public Improvements identified in the
Primary Infrastructure Plan shall require a forty-five -day notice publication and written notice to
the BOCC pursuant to Section 32- 1 -207(3)(b), C.R. S . If, within forty-five (45) days of the
publication of such notice, the BOCC expresses to the District a written objection to the proposed
use of eminent domain by the District, then the proposed use of eminent domain shall be
considered a material modification of the Service Plan and shall be resolved in accordance with
Section 32- 1 -207 (2 ) , C.R. S . No eminent domain shall be exercised against Weld Count
10 . Service Plan amendment requirement. This Service Plan is general in nature and does
not include specific detail in some instances because development plans have not been finalized.
The Service Plan has been designed with sufficient flexibility to enable the District to provide
required services and facilities under evolving circumstances without the need for numerous
amendments . Modification of the general types of services and facilities making up the Public
Improvements, and changes in proposed configurations, locations or dimensions of the Public
Improvements, shall be permitted to accommodate development needs for the Project. The District
is an independent unit of local government, separate and distinct from the County, and its activities
are subject to review by the County only insofar as they may deviate in a material manner from the
requirements of the Service Plan. Any action of the District which: ( 1 ) violates the limitations set
forth in Paragraphs V. A. 1 9 above; or (2) violates the limitations set forth in Subsections VI.B--
H below, shall be deemed to be a material modification to this Service Plan, unless otherwise
agreed by the County as provided for in Section X of this Service Plan.
B. Primary Infrastructure Plan.
The District shall have authority to provide for the planning, design, acquisition, construction,
installation, relocation, redevelopment, maintenance and financing of the Public Improvements within and
without the boundaries of the District. The Primary Infrastructure Plan, including: ( 1 ) a description of
the Public Improvements to be developed by the District; and (2) an estimate of the cost of the Public
Improvements is attached hereto as Exhibit D. As shown in the Primary Infrastructure Plan, the estimated
cost of the Public Improvements which may be planned for, designed, acquired, constructed, installed,
relocated, redeveloped, maintained or financed by the District will be dependent on the design of the
Public Infrastructure with the users thereof The District shall describe such further and other Public
Improvements deemed appropriate to meet the goals of the District and provide notice of such description
to the Board of County Commissioners of Weld County within forty-five ( 45 ) days thereof All Public
Improvements constructed by the District shall be located within Weld County. If within 45 days of the
receipt of such notice, the Board of County Commissioners provides to the District a written ob - ection to
the proposed Public Improvements, then the proposed Public Improvements shall be considered a material
modification of the Service Plan and shall be resolved in accordance with Section 32- 1 -207 (2) , C . R. S .
The District shall be permitted to allocate costs between such categories of the Public
Improvements as deemed necessary in its discretion.
All of the Public Improvements described herein will be designed in such a way as to assure that
the Public Improvements standards will be compatible with those of all government entities having
jurisdiction shall be in accordance with the requirements of the Approved Development Plan, if any . All
descriptions of the Public Improvements to be constructed, and their related costs, are estimates only and
are subject to modification as engineering, development plans , economics, the requirements of other
government entities having jurisdiction and construction scheduling may require . Upon approval of this
Service Plan, the District will continue to develop and refine the Primary Infrastructure Plan, as
necessary, and prepare for issuance of Debt. All cost estimates will be inflated to then-current dollars at
the time of the issuance of Debt and construction. All construction cost estimates contained in Exhibit D
assume construction to applicable local, state or federal requirements .
VI. FINANCIAL PLAN
A . General.
The District shall be authorized to provide for the planning, design, acquisition, construction,.
installation , relocation and/or redevelopment of the Public Improvements from its revenues and by and
through the proceeds of Debt to be issued by the District. The Financial Plan for the District shall be to
issue such Debt as the District can reasonably pay within the Maximum Debt Mill Levy Imposition Term
from revenues derived from the Maximum Debt Mill Levy and other legally available revenues . The total
Debt that the District shall be permitted to issue shall not exceed the Total Debt Issuance Limitation and
shall be permitted to be issued on a schedule and in such year or years as the District determines shall
meet the needs of the Financial Plan referenced above and phased to serve development as it occurs . All
Bonds and other Debt issued by the District may be payable from any and all legally available revenues of
the District, including general ad valorem taxes to be imposed upon all taxable property within the
District, The District will also rely upon various other revenue sources authorized by law . These will
include the power to assess fees, rates, tolls, penalties or charges as provided in Section 32- 1 - 1001 ( 1 ),
C. R. S .
The Total Debt Issuance Limitation is supported by the Financial Plan prepared by RBC Capital
Markets . attached hereto as Exhibit E. The Financial Plan attached to this Service Plan satisfies the
requirements of Subsection 2- 14-20 . I of the County Code. In addition to Debt financing, the District
anticipates that it may issue revenue bonds from revenues which are not received from the imposition of a
property tax within the District ' s boundaries , Revenue enue bonds do not constitute debt under this Service
ice
111 Plan or state law.
B . Maximum Voted Interest Rate and Maximum Underwriting Discount.
The interest rate on any Debt or revenue financing is expected to be the market rate at the time of
issuance . In the event of a default, the proposed maximum interest rate on any Debt or revenue issuance
is not expected to exceed fifteen percent ( 15%). The proposed maximum underwriting discount will be
five percent (5 %). Debt or revenue financing, when issued, will comply with all relevant requirements of
this Service Plan , state law and federal law as then applicable to the issuance of public securities .
C. Maximum Debt Mill Levy.
The Maximum Debt Mill Levy shall be the maximum mill levy the District is permitted to impose
upon the taxable property within the District for payment of Debt, and shall be fifty (50) mills} provided
that if, on or after January 1 , 2019 , there are changes in the method of calculating assessed valuation or
any constitutionally mandated tax credit, cut or abatement, the mill levy limitation applicable to such
Debt may be increased or decreased to reflect such changes, such increases or decreases to be determined
by the Board in good faith (such determination to be binding and final) so that, to the extent possible , the
actual tax revenues generated by the mill levy, as adjusted for changes occurring after January 1 , 2019,
are neither diminished nor enhanced as a result of such changes . For purposes of the foregoing, a change
in the ratio of actual valuation to assessed valuation shall be deemed to be a change in the method of
calculating assessed valuation. All Debt issued by the District must be issued in compliance with the
requirements of Section 32- 1 - 1101 , C . R. S . , and all other requirements of state law .
D . Maximum Debt Mill Levy Imposition Term.
Within its boundaries, the District shall not impose a levy for repayment of any and all Debt (or use
the proceeds of any mill levy for repayment of Debt) on any property which exceeds thirty ( 30) years
after the year of the initial imposition of such mill levy to such property unless a majority of the Board are
property owners of the District and have voted in favor of a refunding of a part or all of the Debt and such
refunding will result in a net present value savings as set forth in Section 11 -56- 101 et seq. , C. R. S .
The District shall be limited to issuing new Debt within a period of fifteen ( 15 ) years from the date
of the District's first debt authorization election. The District may issue Debt after the fifteen-year period
in order to provide the services outlined in this Service Plan if development phasing is of a duration that
makes it impracticable to issue all debt within the fifteen-year period.
E . Debt Repayment Sources .
The District may impose a mill levy on taxable property within its boundaries as a source of
revenue for repayment of debt service and for operations and maintenance . The District may also rely
upon various other revenue sources authorized by law. At the District's discretion, these may include the
power to assess fees, rates, tolls, penalties or charges as provided in the Special District Act. In no event
shall the debt service mill levy in the District exceed the Maximum Debt Mill Levy.
P. Security for Debt.
The District shall not pledge any revenue or property of the County as security for the indebtedness
set forth in this Service Plan. Approval of this Service Plan shall not be construed as a guarantee by the
County of payment of any of the District's obligations ; nor shall anything in the Service Plan be construed
so as to create any responsibility or liability on the part of the County in the event of default by the
District in the payment of any such obligation.
G . TABOR Compliance .
The District will comply with the provisions of TABOR. In the discretion of the Board , the
District may set up other qualifying entities to manage, fund, construct and operate facilities, services and
programs . To the extent allowed by law, any entity created by the District will remain under the control
of the District's Board.
H. District's Operating Costs.
The estimated cost of acquiring land, engineering services, legal services and a . inistrative
services, together with the estimated costs of the District's organization and initial operations, are
anticipated to be $ 50 , 000. 00, which will be eligible for reimbursement from Debt proceeds.
In addition to the capital costs of the Public Improvements , the District will require operating funds
for administration and to plan and cause the Public Improvements to be operated and maintained . The
first year's operating budget is estimated to be $50,000 .00, which is anticipated to be derived from
property taxes and other revenues .
The Maximum Debt Mill Levy for the repayment of Debt shall not apply to the District's ability to
increase its mill levy as necessary for provision of operation and maintenance services to its taxpayers and
service users. The Aggregate Mill Levy Cap shall be the maximum mill levy the District is permitted to
impose upon the taxable property within the District for payment of Debt and operations and maintenance
functions, and shall be sixty-five (65) mills ; provided that if, on or after January 1 , 2019 , there are
changes in the method of calculating assessed valuation or any constitutionally mandated tax credit, cut or
abatement, the mill levy limitation applicable to such Debt may be increased or decreased to reflect such
changes, such increases or decreases to be determined by the Board in good faith (such determination to
be binding and final) so that, to the extent possible, the actual tax revenues generated by the mill levy, as
adjusted for changes occurring after January 1 , 2019, are neither diminished nor enhanced as a result of
such changes . For purposes of the foregoing, a change in the ratio of actual valuation to assessed
valuation shall be deemed to be a change in the method of calculating assessed valuation . Although the
operations and maintenance mill levy imposed by the District may exceed fifteen ( 15 ) mills as part of the
Aggregate Mill Levy Cap, the debt service mill levy may not exceed the Maximum Debt Mill Levy.
The District shall impose a mill levy for debt, capital costs, operations and maintenance expenses for its
Public Improvements, all of which shall be within Weld County. Operation and maintenance expenses include all
reasonable and necessary current expenses of the District, paid, accrued, or reserved for operating,
maintaining, and reiairing the Public Improvements, including without limitation legal and overhead
expenses of the District directly related to the administration of the Public Improvements , insurance
premiums , audits , charges of depository banks and paying agents , professional services , salaries and
administrative expenses, labor, the cost of materials and supplies for current operation:, the amount
required to be paid as a rebate obligation to the United States of America as required in order to avoid
impairing the exclusion from gross income for purposes of the federal income tax of the interest paid or to
be paid thereon , allowance for depreciation, franchise fees, and legal liabilities based on contract, Debt
and capital costs include all funds paid, accrued or reserved for the acquisition of land, easements,
facilities , water rights, and equipment ( other than ordinary repairs and replacements) , and the construction
or reconstruction of improvements , betterments, and extensions, for use by or in connection with the
Public Improvements, together with the principal, interest, reserves , surplus funds , administrative costs to
paying agents , registrars , and costs of issuance related to the issuance of debt obligations by the District.
Capital improvements shall be paid from. and shall be subject to the limitations, relating to Debt provided
above .
I. Elections .
The District will call an election on the questions of organizing the District, electing the initial
Board and setting in place the proposed financial structure as required by TABOR. The election will be
conducted as provided in the Uniform Election Code of 1992, the Municipal Election Code and TABOR.
At least thirty ( 30) days prior to the District's organizational election, the proposed ballot questions shall
be submitted to the County for review to ensure that said ballot questions are in compliance with this
Service Plan.
VII. ANNUAL REPORT
A . General.
The District shall be responsible for submitting an annual report with the County Clerk not later
than March 1 of each year following the year in which the Order and Decree creating the District has been
issued by the District Court for and in Weld County, Colorado.
B . Reporting of Significant Events .
The annual report shall include information as to any of the following:
1 . Boundary changes made or proposed to the District's boundary as of December 31 of the
prior year.
2 . Intergovernmental Agreements with other governmental entities, either entered into or
proposed as of December 31 of the prior year.
3 . Copies of the District's rules and regulations, if any, as of December 31 of the prior year .
4. A summary of any litigation which involves the District Public Improvements as of
December 31 of the prior year.
5 . Status of the District's construction of the Public Improvements as of December 31 of the
prior year.
6. 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.
7. The estimated assessed valuation of the District for the current year.
8. Current year budget including a description of the Public Improvements to be constructed
in such year .
9. 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 applica '��' le .
VIII. DISSOLUTION
Upon a determination of the BOCC that the purposes for which the District was created have been
accomplished, the District agrees to file a petition in the District Court in and for Weld County, Colorado,
for dissolution, in accordance with the provisions of the Special District Act. In no event shall dissolution
occur until the District has provided for the payment or discharge of all of its outstanding Debt and other
financial obligations as required pursuant to state statutes . If the District is responsible for ongoing
operations and maintenance functions under this Service Plan (Long-Term District Obligations) , the
District shall not be obligated to dissolve upon any such BOCC determination, However, should the
Long-Te 1 District Obligations be undertaken by the County or other governmentalentity, or should the
District no longer be obligated to perform the Long-Term District Obligations , the District agrees to
commence dissolution proceedings as set forth above .
IX. PROPOSED AND EXISTING INTERGOVERNMENTAL AGREEMENTS AND
EXTRATERRITORIAL SERVICE AGREEMENTS
All such agreements must be for facilities, services and agreements lawfully authorized to be
provided by the District, pursuant to the State Constitution, Article XIv, Section 18 (2)(a), and Sections
29- 1 -201 et seq. , C. R. S . To the extent practicable , the District may enter into additional
intergovernmental and private agreements to better ensure long-term provision of the Public
Improvements identified herein. Agreements may also be executed with property owner associations and
other service providers .
Any agreements which are required, or known at the time of formation of the District to likely be
required, to fulfill the purposes of the District, must be described in this Service Plan, along with
supporting rationale. Execution of intergovernmental or extraterritorial agreements by the District that
are not described in this Service Plan shall require a forty-five-day notice publication and written notice to
the BOCC pursuant to Section 32- 1 -207(3 )(b), C . R. S . If, within forty-five (45 ) days of the publication of
such notice, the BOCC expresses to the District a written objection to the proposed agreements, then the
entry into said agreements without the prior written approval of the BOCC shall be considered a material
modification of this Service Plan and shall be resolved only in accordance with Section 32- 1 -207 (2 ) ,
C. R. S .
X. MATERIAL MODIFICATIONS
Material modifications to this Service Plan may be made only in accordance with Section 32- 1 -
207, C.R. S . All modifications to the written provisions of this Service Plan, whether deemed material or
otherwise , must be approved by the County prior to becoming effective, and the District shall not be
permitted to unilaterally make such modifications . No modification shall be required for an action of the
District which does not materially depart from the provisions of this Service Plan. The District may
request from the County a determination as to whether the County believes any particular action
constitutes a material departure from the Service Plan, and the District may rely on the County's written
determination with respect thereto; provided that the District acknowledges that the County's
determination as aforesaid will be binding only upon the County, and will not be binding upon any other
party entitled to enforce the provisions of the Service Plan as provided in Section 32- 1 -207, C. R. S .
I. CONCLUSION
It is submitted that this Service Plan for the District, as required by Section 32- 1 -203 (2), C. R. S . ,
and Section 32- 1 -203 (3 ) , C . R. S . , establishes that:
1 . There is sufficient existing and projected need for organized service in the area to be
serviced by the District;
2 . The existing service in the area to be served by the District is inadequate for present and
projected needs;
3 . The District is capable of providing economical and sufficient service to the area within
its proposed boundaries;
4. The area to be included in the District does have , and will have, the financial ability to
discharge the proposed indebtedness on a reasonable basis ;
5 . Adequate service is not, and will not be, available to the area through the County or other
existing municipal or quasi-municipal corporations, including existing special districts, within a
reasonable time and on a comparable basis ;
6. The facility and service standards of the District are compatible with the facility and
service standards of the County and each municipality which is an interested party under Section
32- 1 -204( 1 ), C.R. S . ;
7. The proposal is in substantial compliance the County's Master Plan adopted pursuant to
Section 30-28 - 106, C . R. S . ;
S . ;
8. The proposal is in compliance with any duly adopted County, regional or state long-range
water quality management plan for the area;
9. The creation of the District is in the best interests of the area proposed to be served; and
10. The creation of the District is in the best interests of the residents and future residents of
the area proposed to be served.
XII. RESOLUTION OF APPROVAL
The District agrees to incorporate the BOCC's resolution of approval, including any conditions on
any such approval , into the Service Plan presented to the District Court for and in Weld County.
Colorado .
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