HomeMy WebLinkAbout 13-09 Neighbors Point 1st Amendment Service PlanTOWN OF FIRESTONE, COUNTY OF WELD, STATE OF COLORADO
IN RE THE FIRST AMENDMENT TO SERVICE PLAN FOR NEIGHBORS POINT
METROPOLITAN DISTRICT, IN THE TOWN OF FIRESTONE, COUNTY OF WELD,
STATE OF COLORADO
RESOLUTION NO. 13- v I
RESOLUTION OF APPROVAL
WHEREAS, by Resolution No. 04-44, adopted October 7, 2004, the Board of Trustees of
the Town of Firestone, County of Weld, State of Colorado (the "Town"), approved the Service
Plan for Neighbors Point Metropolitan District, and the Weld County District Court ordered the
organization of said District on December 2, 2004 pursuant to the requirements of the Special
District Act; and
WHEREAS, pursuant to the Special District Act, there has been filed with the Town a
proposed First Amendment to Service Plan for Neighbors Point Metropolitan District; and
WHEREAS, pursuant to the provisions of Title 32, Article 1, Part 2, C.R.S. as amended,
the Board of Trustees of the Town, following due notice, held a public hearing on the proposed
First Amendment to Service Plan, which hearing was held on February 27, 2013; and
WHEREAS, the Board of Trustees has considered the First Amendment to Service Plan
and all other testimony and evidence presented at the hearing; and
WHEREAS, based upon the testimony and evidence presented at the hearing, it appears
that the First Amendment to Service Plan for Neighbors Point Metropolitan District should be
approved by the Board of Trustees, subject to certain conditions set forth below, in accordance
with Section 324-204.5(1)(c), C.R.S.
THEREFORE, BE IT RESOLVED BY THE BOARD OF TRUSTEES OF THE TOWN
OF FIRESTONE, COLORADO:
Section 1. That the Board of Trustees, as the governing body of the Town of Firestone,
Colorado, does hereby determine, based on representations by and on behalf of the Neighbors
Point Metropolitan District (the "District") and I & J Partnership, a California limited partnership
and MSP Corporation, a Colorado corporation, (collectively, the "Developers"), that all of the
requirements of Title 32, Article 1, Part 2, C.R.S., as amended, relating to the filing of the
proposed First Amendment to Service Plan for Neighbors Point Metropolitan District have been
fulfilled and that notice of the hearing was given in the time and manner required by the Town.
Section
2. That, based
on representations by and on behalf
of the District
and
Developers, the
Board of Trustees
of the Town of Firestone, Colorado, has
jurisdiction over
the
subject matter of the proposed First Amendment to Service Plan pursuant to Title 32, Article 1,
part 2. C.R.S., as amended.
Section 3. That, pursuant to Section 32-1-207, C.R.S., Section 32A1 204.5, C.R.S.,
Section 32-1-202(2), C.R.S., and Section 32-1-203(2), C.R.S., the Board of Trustees of the Town
of Firestone, Colorado, does hereby find and determine, based on the Service Plan, as amended
by the First Amendment to Service Plan, the representations by and on behalf of the District and
Developers, and other evidence presented at the public hearing, that:
(a) There is sufficient existing and projected need for organized service in the
areas to be serviced by the District;
(b) The existing service in the areas to be served by the District is inadequate
for present and projected needs;
(c) The District is capable of providing economical and sufficient service to
the area within its boundaries;
(d) The area in the District districts has, or will have, the financial ability to
discharge the proposed indebtedness on a reasonable basis; and
(e) The approval of the First Amendment to Service Plan is in the best
interests of the District.
Section 4. That pursuant to Section 32-1-204.5(1)(c), C.R.S., the Board of Trustees
hereby imposes the following conditions upon its approval of the First Amendment to Service
Plan:
(a) At its first meeting after the effective date of this Resolution and in no event
later than May 1, 2013, the Board of Directors of the District shall execute the First
Amendment to Intergovernmental Agreement with the Town ("First Amendment to
IGA') in the form presented to the Town Board of Trustees at its February 27, 2013
hearing, or in form otherwise acceptable to the Town Attorney, and shall deliver the
fully executed original of the First Amendment to IGA to the Town.
(b) That pursuant to the Service Plan, the District will pay all reasonable
expenses of the Town, its attorneys and consultants, as well as the Town's
reasonable processing fees, in connection with the modification of the Service Plan
approved herein.
If any of the above -stated conditions are not met, the Town may revoke its approval of
the First Amendment to Service Plan by subsequent resolution and/or pursue all legal and
equitable remedies available to it for failure of compliance with such conditions of approval.
Section 5. That the First Amendment to Service Plan for Neighbors Point Metropolitan
Dishict, as set forth in Exhibit A to this Resolution and dated February 27, 2013, is hereby
approved subject to the conditions stated in Section 4 above, in accordance with Section 32-1-
204.5(1)(c), C.R.S.
Section 6. That a certified copy of this Resolution be filed in the records of the Town of
Firestone and submitted to the District.
RESOLVED, ADOPTED AND APPROVED this 27th day of February, 2013.
TOWN OF FIRESTONE, COLORADO
(SEAL)
d�
ATTEST: Chad Auer
A� i Mayor
I
Rebecca Toberman
Town Clerk
FIRST AMENDMENT TO SERVICE PLAN
FOR
NEIGHBORS POINT METROPOLITAN DISTRICT
IN THE TOWN OF FIRESTONE, COLORADO
Submittal Date: February 27, 2013
INTRODUCTION
This First Amendment to Service Plan (the "First Amendment") for Neighbors
Point Metropolitan District (the "District") is proposed to:
A. restate and replace Article III (entitled, `Boundaries, Population &
Valuation"), incorporating an updated legal description of the District, attached hereto
and incorporated herein as Exhibit A, an updated boundary map of the District, attached
hereto and incorporated herein as Exhibit B, and an updated vicinity map, attached
hereto and incorporated herein as Exhibit C, as well as incorporating the District's
Resolution and Order for Exclusion, dated November 5, 2012 (the "Exclusion
Resolution"), attached hereto and incorporated herein as Exhibit D.
B. restate and replace Article IV, Part c, entitled, "Anticipated
Development."
C. restate and replace the following portions of Article V: Parts a
("General"), b ("Debt Issuance"), c ("Required Transfers of Bond Proceeds to Town"), d
("Other Financial Restrictions, Limitations and Requirements") and i ("Identification of
District Revenue"); and
D. replace the original Financial Plan of the Service Plan with the Financial
Plan, attached hereto and incorporated herein as Exhibit E; and
E. revise the date stated in Article VIII after which the Town shall have the
right to require the District to dissolve.
This First Amendment is submitted pursuant to §§ 32-1-201, et seq., C.R.S., as
amended, (the "Special District Control Act"), and the requirements of the Town of
Firestone, Colorado (the "Town") as set forth in the Service Plan.
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The District is a quasi -municipal corporation and political subdivision of the State
of Colorado. The Town approved the Service Plan for the District on October 6, 2004
(the "Service Plan") and the Weld County District Court ordered the organization of the
District on December 2, 2004 pursuant to the requirements of the Special District Control
Act.
L PURPOSE OF FIRST AMENDMENT
MSP Corporation ("MSP"), which is the owner of the property contained within
Filings 1, 2 and 5 of Neighbors Point Subdivision, excluding public property (the "MSP
Property"), has sought the exclusion of the MSP Property from the boundaries of the
District. Pursuant to Article III of the Service Plan, no changes in the boundaries of the
District shall be made, unless the prior written approval of the Town Board of Trustees
has been obtained as part of a Service Plan modification, as provided therein. The
purpose of the First Amendment is, first, to set forth in the Service Plan that the Town
approves the exclusion of the MSP Property from the boundaries of the District.
Additionally, this First Amendment proposes a revised financial plan that reflects the
development assumptions of the property remaining within the District's boundaries after
the exclusion of the MSP Property and modifies the debt limitations and expected bond
issuances of the District. All assumptions contained within this First Amendment assume
that the exclusion of the MSP Property has been approved by the Town.
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II. NEW LANGUAGE FOR SECTION III OF SERVICE PLAN
The following language restates and replaces Article III of the Service Plan in its
entirety:
"III. BOUNDARIES, POPULATION & VALUATION
The District, as originally organized, consisted of approximately One Hundred
and Ninety -One (191) acres located entirely within the boundaries of the Town. The
District, upon the exclusion of the MSP Property, as detailed in Article III.a, below, shall
consist of approximately Ninety -Five (95) acres, more or less, located entirely within the
boundaries of the Town, as more particularly set forth in the legal description attached
hereto as Exhibit A and as shown on the boundary map, attached hereto as Exhibit B,
and the viciniTy map, attached hereto as Exhibit C. The petitioner, also the Developer of
the District property, has received the consents of the property owners to the formation of
this District, which consents, for the owners of all property to be located within the
District, are attached hereto as Exhibit D and incorporated herein by this reference.
a. Exclusion of MSP Property.
On November 5, 2012, the Board of Directors of the District (the `Board")
noticed and held a public hearing to consider a petition for exclusion of certain property
located within the District's boundaries that MSP Corporation ("MSP") submitted to the
District. Excepting public property, MSP is the owner of the property described as
Filings 1, 2 and 5 of the Neighbors Point subdivision, which represents approximately
Ninety -Six and One Hundred and Fifty -Four Thousandths of One (96.154) acres, more or
less, and One Hundred and Fifty -Eight (158) single family lots (the "MSP Property").
After discussion and consideration, the Board approved a Resolution and Order of
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exclusion of the MSP Property from the District's boundaries, subject to the District
obtaining the written approval of the Town Board of Trustees of the exclusion of the
MSP Property from the District boundaries (as approved by the Board, the "Exclusion
Resolution").
b. Development Assumptions.
Upon the exclusion of the MSP Property, a portion of the Neighbors Point
subdivision remaining within the boundaries of the District will be developed for
approximately Two Hundred and Seventy -One (271) single-family homes by I & J
Partnership, L.P. The current population of the District is zero. The population of the
District at fill build -out is estimated to be Seven Hrmdred and Eighty -Six (786) people,
subject to development approval by the Town. It is acknowledged that Town
development standards and requirements may affect the foregoing numbers of anticipated
homes and population. The estimated assessed value at full build -out is Six Million,
Eighty -Six Thousand, Seven Hundred and Ninety -Two Dollars ($6,086,792.00). The
property is currently zoned PUD-RA, for various residential use categories. The 2012
assessed value of the property located within the District is approximately Eight Hundred
and Forty Thousand, Two Hundred and Ninety Dollars ($840,290.00). The total
overlapping mill levy imposed upon the property within the District for tax collection
year 2011 was One Hundred and Forty and One Hundred and Thirty -Five Thousandths of
One (140.135) mills.
c. Chances in District Boundaries,
The District shall be required to obtain written approval from the Town of a
Service Plan modification prior to any inclusion or exclusion of property to or from the
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District, or any other change in its boundaries. Any such approval may be granted or
denied by resolution of the Board of Trustees, in its discretion. Any inclusion may be on
the condition that all property in the District at the time of such inclusion remains in the
District, and upon such other conditions as the Town may impose. Any exclusion may be
on the condition that there is no detriment to the remaining residents and taxpayers within
the District, or to the District's bondholders, and on such other conditions as the Town
may impose. No changes in the boundaries of the District shall be made, unless the prior
written approval of the Board of Trustees has been obtained as part of a Service Plan
modification, as provided herein. Notwithstanding the foregoing, the Town expressly
authorizes and approves the exclusion of the MSP Property from the boundaries of the
District, as further described in the Exclusion Resolution."
III. NEW LANGUAGE FOR ARTICLE IV, PART C OF THE SERVICE PLAN
The following language restates and replaces Article IV, Part (c) of the Service
Plan in its entirety:
"c. Anticinated Develoament.
The Developer anticipates total build -out to occur by 2021, with the construction
of Thirty -Two (32) single family residences per year in 2013 through 2020 and Fifteen
(15) single family residences in 2021, subject to final design and development approval
by the Town. It is acknowledged by the Developer that Town development standards and
requirements may affect the foregoing numbers of anticipated homes and the foregoing
anticipated build -out schedule."
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IV. NEW FINANCIAL PLAN LANGUAGE
A. The following language restates and replaces Article V, Part (a) of the
Service Plan in its entirety:
"a. General.
The provision of improvements and facilities by the proposed District will be
financed through the issuance of general obligation bonds (the "Bonds"), secured by the ad
17alorem taxing authority of the proposed District and other District revenues, limited as
discussed below. The Financing Plan anticipates the issuance of two (2) series of Bonds in
2015 and 2020. The term of any Bonds issued by the District shall not exceed thirty (30)
years. The combined total estimated cost of the public improvements needed for the entire
development contained within the original boundaries of the District is Six Million, Seven
Hundred and Thirty -Eight Thousand, Three Hundred and Twenty -Three Dollars and
Seventy -Seven Cents ($6,738,323.77); the District will be financing a portion of such
amount related to the development of the property remaining in the District after the
exclusion of the MSP Property. The District has the capacity to issue general obligation
bonds in the aggregate principal amount of approximately Two Million, Nine Hundred
Thousand Dollars ($2,900,000.00), projected to yield net bond proceeds of approximately
Two Million, Five Hundred and Thirty -Five Thousand Dollars ($2,535,000.00) (which will
be further reduced by the District's contribution of Five Hundred and Fourteen Thousand,
Six Hundred and Twenty -Nine Dollars ($514,629.00) to the Town as provided in Article
V.c., below).
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Accordingly, it is currently anticipated that the bond proceeds will be insufficient to
allow for repayment of approximately Three Million, Eight Hundred and Thirty -Eight
Thousand, Three Hundred and Twenty -Three Dollars and Seventy -Seven Cents
($3,838,323.77), which will be contributed by the Developer or other third -party developers,
or may otherwise be financed by one or more separate metropolitan district(s); however, if
the financing capability of the District changes and will permit repayment in the future (due
to higher than anticipated assessed values, lower interest rates or any other circumstance),
the District may agree to repay the Developer for unreimbursed public infrastructure costs
so long as the District has the capacity to make such payments without exceeding the debt
limit or Mill Levy Limit provided in this Service Plan and subject to all other requirements
of Article V.h., below. Payments made to the Developer by the District are expected to
made principally from Bond proceeds and shall not exceed the amount advanced by the
Developer for capital costs of District public improvements. The Accountant's Forecasted
Cash Surphrs Balance and Cash Receipts and Disbursements in Exhibit G do not include
the above -described Developer contribution to the costs of public improvements."
B. The following language restates and replaces Article V, Part (b) of the
Service Plan in its entirety:
"b. Debt Issuance.
The District intends to issue two (2) series of general obligation bonds in the
aggregate principal amount of approximately Two Million, Nine Hundred Thousand
Dollars ($2,900,000.00). The aggregate principal amount of all general obligation bonds
and all other forms of borrowing by the District, throughout the District's existence and
regardless of subsequent payments and discharges, shall be limited to a total of Three
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Million, One Hundred and Ninety Thousand Dollars ($3,190,000) (the "debt limit");
except to the extent otherwise provided in Article V.g, below, with respect to refunding
bonds and in Article V.h, below, with respect to construction financing notes (i.e., notes
or other financial obligations, if any, issued by the District to the Developer to evidence
the District's obligation to repay the Developer's advances for construction costs).
The first series of general obligation bonds will be issued in the approximate
amount of One Million, Two Hrmdred and Fifty Thousand Dollars ($1,250,000.00), at
such time as at least Ninety -Six (96) homes (representing, together with undeveloped
land in the District, a total of approximately One Million, Nine Hundred and Eighty -
Three Thousand, Six Hundred and Sixty -Seven Dollars ($1,983,667.00) in assessed
valuation) have received building permits and all necessary public improvements serving
such homes have been completed and preliminarily accepted by the Town
("Development Threshold I"). The Developer expects that sales of such first series of
general obligation bonds (to financial institutions or institutional investors, as further
provided below) would be made on the basis that, builder activity having commenced
within the District (as demonstrated by the development levels required by the
immediately preceding sentence), there is a reasonable likelihood that projected future
development will occur and will result in increased assessed valuation levels to support
payment of such bonds. The second series of general obligation bonds will be issued in
the approximate amount of One Million, Six Hundred and Fifty Thousand Dollars
($1,650,000.00), at such time as certificates of occupancy have been issued for at least
Two Hundred and Fifty -Six (256) residential units (representing, together with
undeveloped land in the District, a total of approximately Five Million, Seven Hundred
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and Forty -Five Thousand, Nine Hundred and Twelve Dollars ($5,745,912.00) in assessed
valuation), and Fifteen (15) remaining residential units have received building permits
(representing, together with the Two Hundred and Fifty -Six (256) units that have
received certificates of occupancy and together with undeveloped land in the District, a
total assessed value of approximately Five Million, Eight Hundred and Fifty -One
Thousand, Nine Hundred and Seven Dollars ($5,851,907.00), and all necessary public
improvements serving such residential development have been completed and
preliminarily accepted by the Town ("Development Threshold 11"). Collectively,
Development Threshold I and Development Threshold II shall be referred to herein as the
"Development Thresholds." As set forth in Exhibit H, the District's Financial Advisor
has indicated that issuance of certificates of occupancy and building permits are generally
accepted lending criteria for special district debt, and that accordingly, the above -
described Development Thresholds will evidence sufficient development activity within
the District to support repayment of the corresponding debt."
C. The following language restates and replaces Article V, Part (c) of the
Service Plan in its entirety:
"c. Required Transfers of Bond Proceeds to Town.
The District will pay to the Town for deposit into the Town's capital
improvements fund a total of Five Hundred and Foruteen Thousand, Six Hundred and
Twenty -Nine Dollars ($514,629.00) of the District's total net bond proceeds, forty-two
percent (42%) of which shall be paid to the Town upon the issuance and delivery of the
first series of Bonds, which is anticipated to occur in 2015, and fifty-eight percent (58%)
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of which shall be paid to the Town upon the issuance and delivery of the second series of
Bonds, which is anticipated to occur in 2020. Pursuant to an agreement to be executed
between the Town and the District, the funds so paid to the Town shall be used by the
Town to finance improvements (whether inside or outside the boundaries of the District)
that the Town and the District would otherwise be empowered to construct, and for which
the District is authorized to incur indebtedness (i.e., streets, street lighting, traffic safety
controls, water, landscaping, storm drainage or park and recreation improvements and
facilities), which improvements shall be of benefit to the Town and the District and shall
be specifically identified in an amendment to the intergovernmental agreement between
the Town and the District, which amendment shall be fully executed prior to the issuance
of any District bonds.
The Developer of the District acknowledges that the foregoing provisions for
allocation of bond proceeds to the Town's capital improvements fund for capital
improvements are material considerations in, and conditions of, the Town's approval of
this Service Plan, and the Town has relied thereon in approving this Service Plan. The
District shall not issue bonds without including in such issuance the concurrent allocation
and delivery to the Town of the funds required by this Article V.c., and such delivery of
funds to the Town shall be a condition of closing for the Bonds. Further, the District
shall not be authorized to incur any financial obligations of any kind or perform any other
functions authorized under this Service Plan until the governing body of the District,
upon formation thereof, has executed: (1) the intergovernmental agreement provided for
in Article XIII and Exhibit N, with such amendments as the parties may mutually agree,
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stating
its agreement to comply
with
the provisions of this Article V.c.; and (2) the
District
indemnity letter provided
for in
Part II of Exhibit K."
D. The following language restates and replaces Article V, Part (d) of the
Service Plan in its entirety:
"d. Other Financial Restrictions, Limitations and Requirements.
The District shall request voter authorization for such amount of general
obligation debt as the District deems sufficient to allow for allocation of the amounts
deposited in the Town's capital improvements fund (as described in Article V.c., above)
among the District's powers, unforeseen contingencies, increases in construction costs
due to inflation and all costs of issuance, including capitalized interest, reserve funds,
discounts, legal fees and other incidental costs of issuance; provided, however, that the
amount of general obligation debt (together with construction financing notes) actually
issued by the District shall not exceed the debt limit of Three Million, One Hundred and
Ninety Thousand Dollars ($3,190,000.00) as stated in Article V.b., above. All bonds of
the District will be sold for cash. The authorized maximum voted interest rate is Fifteen
percent (15%) per annum and the maximum underwriting discount is Four percent (4%)
of bond principal. The actual interest rates and discounts, within such maximum voted
amounts, will be determined at the time the bonds are sold by the District and will reflect
market conditions at the time of sale; provided, however, that the actual interest rate shall
not exceed Three Hundred (300) basis points above the Thirty (30) year `AAA'
Municipal Market Data rate in effect at the time the bonds are sold.
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Estimated interest rates used in Exhibit G are based on information furnished by
underwriters identified in Exhibit H. In the event bonds are issued at an interest rate
higher than the estimated rates used in Exhibit G, the principal amount of Bonds will be
reduced so as to result in total debt service payments approximately equal to those
projected in Exhibit G, and so that debt service on the bonds can be paid from the
revenue sources contemplated in this Service Plan. If actual increases in District assessed
valuation are less than the projected increases for those factors as shown in the Exhibit G
forecasts, it is expected that the District would compensate by increasing its mill levy
(subject to the Limited Mill Levy) or reducing the principal amount of the bonds issued.
The Developer acknowledges and accepts the risk that, if all or a part of the
general obligation bonds proposed to be issued by the District are not issued, because of
changes in financial conditions or for any other reason, the Developer may not be paid or
reimbursed for the cost of public improvements or other advances to the District.
No bonds issued by the District shall provide for acceleration as a remedy upon
default, unless the District has received the prior written administrative approval of the
Town, which approval may be granted only by the Town Administrator or the Board of
Trustees. Except as provided below, with respect to notes issued to the Developer for
construction financing, this Service Plan authorizes only the issuance of general
obligation bonds and only within the above stated limits, and subject to the provisions as
to the Limited Mill Levy as set forth below. The District may be authorized to issue
revenue bonds, certificates, debentures or other evidences of indebtedness or to enter into
lease -purchase transactions, only upon approval of an amendment to this Service Plan,
and such an amendment shall be considered a material modification of the Service Plan.
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The District is not authorized to impose any development fees or user charges as part of
this Service Plan. The District is not authorized to impose any taxes other than ad
valorem property taxes as provided in this Service an. The District may be authorized
to impose such fees, user charges or taxes only upon the prior written approval of the
Board of Trustees.
All bonds of the District shall be structured utilizing a commercial bank with bust
powers as trustee to hold the bond proceeds and debt service funds and to pursue
remedies on behalf of the bondholders.
Any bonds issued by the District pursuant to this Service Plan shall be in
compliance with all applicable legal requirements, including without limitation § 32-1-
1101(6), C.R.S., and article 59 of title 11, C.R.S., and shall be approved by nationally
recognized bond counsel. An opinion shall also be obtained from bond counsel or
counsel to the District that the bonds comply with all requirements of this Service Plan."
E. The following language restates and replaces Article V, Part (i) of the
Service Plan in its entirety:
"i. Identification of District Revenue.
The District will impose a mill levy on all taxable property in the District as the
primary source of revenue for repayment of debt service and for operations and
maintenance. The mill levy imposed by the District for debt service purposes shall not
exceed Fifty (50.000) mills, and the mill levy for administration, warranty maintenance
and other operating expenses shall not exceed Six (6.000) mills, except for Gallagher
adjustments permitted under Article V.e., above. Although the mill levy imposed may
vary depending on the phasing of facilities anticipated to be funded, it is estimated that a
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mill levy of Forty (40.000) mills will produce revenue sufficient to support debt service
and administration, warranty maintenance and other operating expenses throughout the
repayment period."
V. REVISION TO ARTICLE VIII
The last sentence of the second paragraph of Article VIII of the Service Plan is
hereby amended in its entirety to read as follows: "Also, on or after December 31, 2016,
if the District has not issued any of its Bonds, the Town shall have the right to require the
District to dissolve in accordance with applicable law, and the District will cooperate
frilly with the Town to dissolve the District."
VI. EFFECT OF FIRST AMENDMENT
The First Amendment of Service Plan is in addition to all of the provisions of the
Service Plan. Except as specifically modified herein, the Service Plan of the District
remains effective.
VII. RESOLUTION OF APPROVAL
The District incorporates the Town Board of Trustees' Resolution approving this
First Amendment, including any conditions of approval.
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Exhibit A
Updated Legal Description
PARCEL 1:
THAT PORTION OF THE SOUTHWEST QUARTER OF SECTION 12 AND THE SOUTHWEST 1/4 OF THE
SOUTHEAST 1/4 OF SECTION 12, TOWNSHIP 2 NORTH, RANGE 68 WEST OF THE 6TH P.M., WELD
COUNTY, COLORADO, DESCRIBED AS FOLLOWS:
COMMENCING AT THE SOUTHWEST CORNER OF SAID SECTION 12 AND CONSIDERING THE SOUTH
LINE OF THE SOUTHWEST QUARTER OF SAID SECTION 12 TO BEAR SOUTH 89031'25" EAST;
THENCE NORTH 53042518" EAST, A DISTANCE OF 2259,21 FEET TO THE POINT OF BEGINNING;
THENCE NORTH 34011100" WEST, A DISTANCE OF 142.04 FEET;
THENCE ALONG THE ARC OF A NON -TANGENT CURVE TO THE RIGHT HAVING A RADIUS OF 44.00
FEET AND A CENTRAL ANGLE OF 103046'4311, AN ARC DISTANCE OF 79.70 FEET (CHORD BEARS
NORTH 24046'24" WEST, 69.24 FEET);
THENCE NORTH 34°27158" WEST, A DISTANCE OF 269.47 FEET;
THENCE NORTH 23°20116" EAST, A DISTANCE OF 39.01 FEET;
THENCE ALONG THE ARC OF A NON -TANGENT CURVE TO THE RIGHT HAVING A RADIUS OF 44.00
FEET AND A CENTRAL ANGLE OF 99°13'4611, AN ARC DISTANCE OF 76.20 FEET (CHORD BEARS NORTH
03054139" WEST, 67.03 FEET);
THENCE NORTH 31057102" WEST, A DISTANCE OF 138.60 FEET;
THENCE NORTH 13056145" WEST, A DISTANCE OF 142.80 FEET;
THENCE NORTH 28056'38" EAST, A DISTANCE OF 20.22 FEET;
THENCE ALONG THE ARC OF ANON -TANGENT CURVE TO THE RIGHT HAVING A RADIUS OF 44.00
FEET AND A CENTRAL ANGLE OF 73°43231 AN ARC DISTANCE OF 56.62 FEET (CHORD BEARS NORTH
11003130" WEST, 52.79 FEET);
THENCE NORTH 51003137" WEST, A DISTANCE OF 26.25 FEET,
THENCE NORTH 17*54146" WEST, A DISTANCE OF 138.43 FEET;
THENCE NORTH 86037126" WEST, A DISTANCE OF 117.46 FEET;
THENCE NORTH 00000154" EAST, A DISTANCE OF 97.14 FEET;
THENCE NORTH 47058'58" EAST, A DISTANCE OF 59.33 FEET;
THENCE ALONG THE ARC OF A NON -TANGENT CURVE TO THE RIGHT HAVING A RADIUS OF 44.00
FEET AND A CENTRAL ANGLE OF 31059'06", AN ARC DISTANCE OF 24.56 FEET (CHORD BEARS NORTH
14042153" WEST, 24.24 FEET) THENCE NORTH 61*40138" WEST, A DISTANCE OF 65.90 FEET;
THENCE NORTH 1200076" WEST, A DISTANCE OF 32.59 FEET;
THENCE NORTH 00001157" EAST, A DISTANCE OF 113.66 FEET;
THENCE ALONG THE NORTH LINE OF SAID SW 1/4 OF SECTION 12, SOUTH 89058103" EAST, A
DISTANCE OF 1297,99 FEET;
THENCE SOUTH 11010157" WEST, A DISTANCE OF 108.23 FEET;
THENCE SOUTH 10032107" EAST, A DISTANCE OF 142.43 FEET;
THENCE SOUTH 50023'30" WEST, A DISTANCE OF 204.82 FEET;
THENCE ALONG THE ARC OF A NON -TANGENT CURVE TO THE RIGHT HAVING A RADIUS OF 523.00
FEET AND A CENTRAL ANGLE OF 09056'52", AN ARC DISTANCE OF 90.80 FEET (CHORD BEARS SOUTH
34038104" EAST, 90.69 FEET);
THENCE ALONG THE ARC OF A CURVE TO THE RIGHT HAVING A RADIUS OF 20.00 FEET AND A
CENTRAL ANGLE OF 9502114111, AN ARC DISTANCE OF 33.29 FEET (CHORD BEARS SOUTH 18001'13"
WEST, 29.58 FEET);
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THENCE SOUTH 65042103/E WE A DISTANCE OF 53.69 FEET;
THENCE SOUTH 24017157/E EAST, A DISTANCE OF 54.00 FEET,
THENCE SOUTH 11000106/E EAST, A DISTANCE OF 77.68 FEET;
THENCE SOUTH 1100414411 WEST, A DISTANCE OF 53.68 FEET;
THENCE SOUTH 27059105/1 WEST, A DISTANCE OF 82.46 FEET;
THENCE SOUTH 3700514311 WEST, A DISTANCE OF 81.48 FEET;
THENCE SOUTH 17*2014011 EAST, A DISTANCE OF 68.10 FEET;
THENCE SOUTH 08011124/1 EAST, A DISTANCE OF 131.34 FEET;
THENCE SOUTH 8503015911 WEST, A DISTANCE OF 78.12 FEET;
THENCE SOUTH 7102415111 WEST, A DISTANCE OF 102.80 FEET;
THENCE ALONG THE ARC OF A NON -TANGENT CURVE TO THE LEFT HAVING A RADIUS OF 373.00
FEET AND A CENTRAL ANGLE OF 01030'4216, AN ARC DISTANCE OF 9.84 FEET (CHORD BEARS NORTH
19020130/1 WEST, 9.84 FEET);
THENCE SOUTH 60010157/6 WEST, A DISTANCE OF 139.73 FEET.'
THENCE SOUTH 56025146" WEST, A DISTANCE OF 65.00 FEET,
THENCE SOUTH 4904015511 WEST, A DISTANCE OF 141.59 FEET;
THENCE SOUTH 46057117/E WEST, A DISTANCE OF 121.94 TO THE POINT OF BEGINNING;
PARCEL 2:
COMMENCING AT THE SOUTHWEST CORNER OF SAID SECTION 12 AND CONSIDERING THE SOUTH
LINE OF THE SOUTHWEST QUARTER OF SAID SECTION 12 TO BEAR SOUTH 89031'25" EAST;
THENCE SOUTH 8903112511 EAST, A DISTANCE OF 1496.63 FEET TO THE POINT OF BEGINNING;
THENCE NORTH 00028'35" EAST, A DISTANCE OF 80.00 FEET;
THENCE NORTH 51020112" EAST, A DISTANCE OF 55.94 FEET;
THENCE NORTH 12041120" EAST, A DISTANCE OF 75.28 FEET;
THENCE NORTH 0702112611 EAST, A DISTANCE OF 46.14 FEET;
THENCE NORTH 0002813511 EAST, A DISTANCE OF 106.46 FEET;
THENCE NORTH 1303012911 WEST, A DISTANCE OF 54.01 FEET;
THENCE ALONG THE ARC OF A NON -TANGENT CURVE TO THE RIGHT HAVING A RADIUS OF 415.00
FEET AND A CENTRAL ANGLE OF 07051'49", AN ARC DISTANCE OF 56.96 FEET (CHORD BEARS SOUTH
7902911611 WEST, 56.91 FEET);
THENCE NORTH 08014153/1 WEST, A DISTANCE OF 130.90 FEET;
THENCE NORTH 76023149" EAST, A DISTANCE OF 72.29 FEET;
THENCE NORTH 55054117/1 EAST, A DISTANCE OF 69.31 FEET;
THENCE NORTH 43024145" EAST, A DISTANCE OF 55.95 FEET;
THENCE NORTH 46035115/E WEST, A DISTANCE OF 43.79 FEET;
THENCE NORTH 43024145/1 EAST, A DISTANCE OF 110.00 FEET;
THENCE SOUTH 46035115/1 EAST, A DISTANCE OF 38.04 FEET;
THENCE NORTH 3702513911 EAST, A DISTANCE OF 617.84 FEET;
THENCE SOUTH 5203412111 EAST, A DISTANCE OF 11.72 FEET;
THENCE NORTH 3702513911 EAST, A DISTANCE OF 140.00 FEET;
THENCE NORTH 5605111611 EAST, A DISTANCE OF 44.27 FEET;
THENCE NORTH 64017120/1 EAST, A DISTANCE OF 126.49 FEET;
THENCE NORTH 6903311711 EAST, A DISTANCE OF 48.16 FEET;
THENCE SOUTH 89059108" EAST, A DISTANCE OF 140.01 FEET;
THENCE SOUTH 00000154" WEST, A DISTANCE OF 67.49 FEET;
THENCE SOUTH 89059106/E EAST, A DISTANCE OF 179.00 FEET;
-16-
THENCE NORTH 00°0054" EAST, ALONG THE WEST LINE OF SAID SOUTHWEST 1/4 OF THE
SOUTHEAST 1/4 OF SECTION 12, A DISTANCE OF 15.57 FEET,
THENCE SOUTH 89044'46" EAST ALONG THE NORTH LINE OF SAID SOUTHWEST 1/4 OF THE
SOUTHEAST 1/4 OF SECTION 12, A DISTANCE OF 928.01 FEET;
THENCE SOUTH 00°07'45" EAST ALONG THE WESTERLY LINE OF OUTLOT "G",
A DISTANCE OF 100.00 FEET;
THENCE SOUTH 89044'46" EAST ALONG SAID SOUTHERLY LINE OF OUTLOT "G",
A DISTANCE OF 400.00 FEET TO THE SOUTHEAST CORNER OF OUTLOT "G", BOOTH FARMS, SECOND
FILING RECORDED AT RECEPTION N0, 2909675 IN THE WELD COUNTY CLERK AND RECORDER'S
OFFICE, SAID CORNER IS MONUMENTED WITH A 1/2" REBAR & PLASTIC CAP, STAMPED "LS 23513";
THENCE SOUTH 00007'45" EAST, ALONG THE EAST LINE OF SAID SOUTHWEST 1/4 OF THE
SOUTHEAST 1/4 OF SECTION 12, A DISTANCE OF 1246,62 FEET TO THE SOUTHEAST CORNER OF SAID
SOUTHWEST 1/4 OF THE SOUTHEAST 1/4 OF SECTION 12;
THENCE NORTH 89030156" WEST, ALONG SAID SOUTH LINE A DISTANCE OF 1331.43 FEETTO THE
SOUTHWEST CORNER OF SAID SOUTHWEST 1/4 OF THE SOUTHEAST 1/4 OF SECTION 12;
THENCE NORTH 89031125" WEST, A DISTANCE OF 1202.59 FEET, TO THE POINT OF BEGINNING;
EXCLUDING A PARCELAS DESCRIBED WITH IN DEED RECORDED AT RECEPTION N0. 32512701N THE
OFFICE OF THE CLERK AND RECORDED OF SAID COUNTY, SITUATED IN THE SOUTHWEST 1/4 OF THE
SOUTHEAST 1/4 OF SECTION 12, TOWNSHIP 2 NORTH, RANGE 68 WEST OF THE 6TH P.M. OF SAID
COUNTY AND STATE.
-17-
Exhibit B
Updated Boundary Map
ice._
-18-
ExnJD1T C
Updated Vicinity Map
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-19-
Exhibit D
Exclusion Resolution
-20-
RESOLUTION AND ORDER
OF THE BOARD OF DIRECTORS
OF NEIGHBORS POINT METROPOLITAN DISTRICT
WHEREAS, in accordance with § 32-1-501(1), C.R.S., MSP Corporation (the "Petitioner,)
petitioned the Neighbors Point Metropolitan District (the "District") for the exclusion from the District
of certain real property, which is more particularly described in Exhibit A, attached hereto and
incorporated herein by this reference (the "Property"), and
WHEREAS, in accordance with § 324-501(2), C.R.S., notice of a public hearing on this matter
was published in the I,on¢tnont Daily Times -Call on November 3, 2012, setting forth the place, time
and date of the public meeting, the names and addresses of the petitioners, a general description of the
property proposed for exclusion, and notice that all persons interested shall appear at such time and
place and show cause in writing why the petition should not be granted; and
WHEREAS, on November 5, 2012, the Board of Directors of the District (the "Board") held a
public hearing on the petition in accordance with § 32-1-501(2), C.R.S.; and
WHEREAS, no objecting parties appeared at the public hearing nor were any written objections
filed with the Board; and
WHEREAS, pursuant to the District's Sezvice Plan, the Dishict shall be required to obtain
written approval fiom the Board of Trustees for the Town of Firestone, Colorado (the "Town") of a
Service Plan modification prior to any inclusion or exclusion of property to or from the District; and
WHEREAS, the Town has provided its written consent for the District to cotrduct the exclusion
hearing on November 5, 2012 to exclude the Property fiom its boundaries, provided that such exclusion
shall not be effective until and unless the Town adopts a resolution approving a Service Plan
modification incorporating such exclusion; and
WHEREAS, upon the effective date of the exclusion of the Properly, the District shall no longer
provide any services or facilities to the Property; and
WHEREAS, the Petitioner has provided an affidavit to the District, as attached hereto and
incorporated herein as Exhibit B, affirming that it is seeking the formation of its own special district
organized pursuant to C.R.S. §§32-1-201, et seq., to serve the Property and will not require the District
to provide any services or facilities for its benefit; and
WHEREAS, pursuaz to §§ 324-501(3) and (4), C.R.S., the Board desires to grant the petition,
in whole, subject to the conditions set forth lzetein.
NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF DIRECTORS_ OF
NEIGHBORS POINT METROPOLITAN DISTRICT AS FOLLOWS:
That the Board of Directors of the District shall, and hereby does make the following findings
based on evidence presented in #Ire public ltearitzg held on November• 5, 2012:
19 That the Petition has been signed by 100% of the owners of the Property.
2. That the notice of the public bearing on this matter was duly published in accordance
with § 32-1-401(1)(b), C.R.S.
3. The proposal to exclude the Property is in the best interest of the Property, in that the
Petitioner has affirmed that it will help promote the timely and efficient development of
the Property.
4. The exclusion is in the best interest of the District, in that it will not impair the ability of
the remaining property located within the District to receive services therefrom.
The exclusion is in the best interest of Weld County, Colorado, in that it will promote the
timely and efficient development of the Property.
6. There is no substantial cost or economic benefit to the subject Property, in terms of
provision of the District's services, resulting from the exclusion, as the Petitioner has
affirmed that the Petitioner is seeking to have a new metropolitan district approved by
the Town that will encompass the Property once so formed (the "New District") and,
upon formation of the New District, the Property is expected to receive similar
economical and sufficient service as would be provided by the District.
7. The exclusion will not affect the Aishict's ability to provide economical and sufficient
service to the properties remaining within the District.
8. The District shall no longer provide public facilities and services to the Property upon
exclusion therefrom; however the Petitioner has affirmed that the Property shall be
provided public facilities and services upon the formation of the New District at a
reasonable cost and as would be provided by the District.
9. No adverse consequences will occur• relating to employrnent or other economic
conditions in the District or the surrounding area as a result of the exclusion, nor will
such exclusion result in economic impacts on the region, the District or the State as a
whole.
10. An economically feasible alternative service is available to the Property.
11. No additional costs are expected to be levied against property within the District as a
result of the exclusion.
12. There is no outstanding bonded indebtedness of the District for which the Property will
be liable.
THEREFORE, THE BOARD OF DIRECTORS OF NEIGHBORS POINT METROPOLITAN
DISTRICT HEREBY ORDERS:
That the petition be granted in whole and the Property be excluded fiom the District,
subject to the Town adopting a resolution that approves a Service Plan modification
incorporating said exclusion ("Service Plan Modification") and, in the event that the
Town does not, for any reason whatsoever, approve a Service Plan Modification on or
before March 31, 2013 then, unless otherwise provided by the Board, this Resolution
shall be of no legal effect and shall be void ab inino.
2. That the Petitioner shall pay all costs and expenses, including reasonable attorneys' fees,
incurred in prrocessing the exclusion of the Property from the Dishict and seeking the
Service Plan Modification, the terms and conditions for which shall be memorialized in a
separate agreement between the Petitioner and the District.
3. That the Property be excluded from the District, subject to the entry of an Order for
Exclusion from the Weld County District Court (the "Order"), which Order shall not be
sought by the District unless and until the Service Plan Modification is approved by the
Town.
4. That, after the affective date o£ the Order, the Property shall no longer be subject to any
of the taxes and charges imposed by the District.
5, That, after the effective date of the Order, the Property shall no longer be liable for any
share of annual operation and maintenance charges and the cost of facilities of the
District and taxes, fees, rates, tolls and charges certified and levied or assessed thereon.
6. There is no outstanding bonded indebtedness for which the Property will be liable.
DONE AND ADOPTED this S°i day of November, 2012.
NEIGII130R5 POINT � TROPOLITAN DISTRICT
President
ATTEST:
Jer Boul n, Treasurer/Secretary
EXHIBIT A
LEGAL DESCRIPTION OF THE PROPERTY TO BE EXCLUDED FROM THE NEIGHBORS
POINT METROPOLITAN DISTRICT
NEIGHBORS POINT FILING NO.1
THAT PORTION OF THE SOUTHWEST QUARTER OF SECTION 12, TOWNSHIP 2
NORTH, RANGE 68 WEST OF THE 6TH P.M., WELD COUNTY, COLORADO DESCRIBED
AS FOLLOWS:
COMMENCING AT THE SOUTHWEST CORNER OF SAID SECTION 12 AND
CONSIDERING THE SOUTH LINE OF THE SOUTHWEST QUARTER OF SAID SECTION
12 TO BEAR SOUTH 89031'25" EAST;
THENCE SOUTH 89°31'25" EAST ALONG SAID SOUTH LINE OF THE SOUTHWEST
QUARTER, A DISTANCE OF 729.28 FEET TO THE SOUTHEAST CORNER OF THAT
CERTAIN PARCEL OF LAND DESCRIBED IN DEED RECORDED IN BOOR 1553 AT
PAGE 439, AND THE POINT OF BEGINNING; THENCE ALONG THE EAST LINE OF
SAID PARCEL OF LAND THE FOLLOWING TWO (2) COURSES:
L NORTH 00028'35" EAST, A DISTANCE OF 30.00 FEET;
2. NORTH 00027'08" WEST, A DISTANCE OF 148.17 FEET;
THENCE SOUTH 41015'31" EAST, A DISTANCE OF 131.53 FEET;
THENCE SOUTH 89031'25" EAST, A DISTANCE OF 218.16 FEET;
THENCE
NORTH
40003'27"
EAST, A DISTANCE OF 117.08 FEET;
THENCE
NORTH
00°28'35"
EAST, A DISTANCE OF 360.54 FEET;
THENCE
NORTH
46053'07"
WEST, A DISTANCE OF 97.00 FEET;
THENCE
NORTH
49020' 17"
WEST, A DISTANCE OF 119.91 FEET;
THENCE
NORTH
40007'24"
WEST, A DISTANCE OF 207.40 FEET;
THENCE
NORTH
26035'45"
WEST, A DISTANCE OF 135.94 FEET;
THENCE
NORTH
03033'02"
WEST, A DISTANCE OF 80.01 FEET;
THENCE
NORTH
88028'41"
EAST, A DISTANCE OF 123.39 FEET;
THENCE
NORTH
17023'05"
WEST, A DISTANCE OF 64.78 FEET;
THENCE
ALONG
THE ARC
OF A CURVE TO THE LEFT HAVING A RADIUS
OF 20.00
FEET AND
A CENTRAL ANGLE
OF 90000'00"5 AN ARC DISTANCE OF 31.42
FEET
(CHORD
BEARS NORTH 62023905"
WEST, 28.28 FEET);
THENCE
NORTH
17023'05"
WEST, A DISTANCE OF 54.00 FEET;
THENCE
ALONG
THE ARC
OF A CURVE TO THE LEFT HAVING A RADIUS
OF 20.00
FEET AND
A CENTRAL ANGLE
OF 90000100", AN ARC DISTANCE OF 31.42
FEET
(CHORD
BEARS NORTH 27036'55"
EAST, 28.28 FEET);
THENCE
NORTH
17023105"
WEST, A DISTANCE OF 98.86 FEET;
THENCE
ALONG
THE ARC
OF A CURVE TO THE LEFT HAVING A RADIUS
OF 473.00
FEET AND
A CENTRAL ANGLE
OF 06054'021, AN ARC DISTANCE OF 56.97
FEET
(CHORD
BEARS NORTH 20050'07"
WEST, 56.93 FEET);
THENCE
SOUTH
59036'31"
WEST, A DISTANCE OF 165.96 FEET;
EXHIBIT A - CONT.
THENCE SOUTH 89°3232 WEST, A DISTANCE OF 166.08 FEET;
THENCE NORTH 56010'26" WEST, A DISTANCE OF 56.67 FEET;
THENCE NORTH 21002'33" WEST, A DISTANCE OF 85.79 FEET;
THENCE NORTH 00042'37" WEST, A DISTANCE OF 79.57 FEET;
THENCE NORTH 12037' 10" EAST, A DISTANCE OF 80.00 FEET;
THENCE NORTH 14022'29" EAST, A DISTANCE OF 90.00 FEET;
THENCE ALONG THE ARC OF A CURVE TO THE LEFT HAVING A RADIUS OF 473.00
FEET AND A CENTRAL ANGLE OF 10032'52", AN ARC DISTANCE OF 87.08 FEET
(CHORD BEARS NORTH 85011'02" WEST, 86.95 FEET);
THENCE SOUTH 89032'32" WEST, A DISTANCE OF 80.19 FEET;
THENCE ALONG THE ARC OF A CURVE TO THE LEFT HAVING A RADIUS OF 20.00
FEET AND A CENTRAL ANGLE OF 89059540", AN ARC DISTANCE OF 31.41 FEET
(CHORD BEARS SOUTH 44032'42" WEST, 28.28 FEET);
THENCE SOUTH 89032' 17" WEST, A DISTANCE OF 54.00 FEET;
THENCE ALONG THE ARC OF A CURVE TO THE LEFT HAVING A RADIUS OF 20.00
FEET AND A CENTRAL ANGLE OF 90000'2051, AN ARC DISTANCE OF 31.42 FEET
(CHORD BEARS NORTH 45027' 18" WEST, 28.29 FEET);
THENCE SOUTH 89032'32" WEST, A DISTANCE OF 114.00 FEET;
THENCE ALONG THE ARC OF A CURVE TO THE LEFT HAVING A RADIUS OF 16.00
FEET AND A CENTRAL ANGLE OF 890595405, AN ARC DISTANCE OF 25.13 FEET
(CHORD BEARS SOUTH 44032'42" WEST, 22.63 FEET);
THENCE NORTH 00027'08" WEST ALONG THE EAST LINE OF THAT CERTAIN
PARCEL OF LAND DESCRIBED IN DEED RECORDED UNDER RECEPTION NO,
29193583 A DISTANCE OF 1072.87 FEET;
THENCE SOUTH 89058'03" EAST ALONG THE NORTH LINE OF SAID SOUTHWEST
QUARTER OF SECTION 12, A DISTANCE OF 1226.32 FEET;
THENCE SOUTH 00001'57" WEST, A DISTANCE OF 113.66 FEET;
THENCE SOUTH 12000926" EAST, A DISTANCE OF 32.59 FEET;
THENCE SOUTH 61040'38" EAST, A DISTANCE OF 65.90 FEET;
THENCE ALONG THE ARCH OF A CURVE TO THE LEFT HAVING A RADIUS OF 44.00
FEET AMD A CENTRAL ANGLE OF 31059'06", AN ARC DISTANCE OF 24.56 FEET
(CHORD BEARS SOUTH 1404T53" EAST, 24.24 FEET);
THENCE SOUTH 47058'58" WEST, A DISTANCE OF 59.33 FEET;
THENCE SOUTH 00000154" WEST, A DISTANCE OF 97.14 FEET;
THENCE SOUTH 86037126" EAST, A DISTANCE OF 117.46 FEET;
THENCE SOUTH 17054546" EAST, A DISTANCE OF 138.43 FEET;
THENCE SOUTH 51003'37" EAST, A DISTANCE OF 26.25 FEET;
THENCE ALONG THE ARC OF A CURVE TO THE LEFT HAVING A RADIUS OF 44.00
FEET AND A CENTRAL ANGLE OF 73023'43"5 AN ARCH DISTANCE OF 56.62 FEET
(CHORD BEARS SOUTH 11003'30" EAST, 52.79 FEET);
THENCE SOUTH 28056'38" WEST, A DISTANCE OF 20.22 FEET;
THENCE SOUTH 13056945" EAST, A DISTANCE OF 142.80 FEET;
EXHIBIT A -CONT.
THENCE SOUTH 31°5702 EAST, A DISTANCE OF 138.60 FEET;
THENCE ALONG THE ARC OF A CURVE TO THE LEFT HAVING A RADIUS OF 44.00
FEET AND A CENTRAL ANGLE OF 99013'465', AN ARCH DISTANCE OF 76.20 FEET
(CHORD BEARS SOUTH 03054'39" EAST, 67.03 FEET);
THENCE SOUTH 23020' 16" WEST, A DISTANCE OF 39.01 FEET;
THENCE SOUTH 34027158" EAST, A DISTANCE OF 269.47 FEET;
THENCE ALONG THE ARC OF A CURVE TO THE LEFT HAVING A RADIUS OF 44.00
FEET AND A CENTRAL ANGLE OF 103046'4Y% AN ARCH DISTANCE OF 79.70 FEET
(CHORD BEARS SOUTH 24046524" EAST, 69.24 FEET);
THENCE SOUTH 34011'00" EAST, A DISTANCE OF 142.04 FEET;
THENCE SOUTH 37009'28" WEST, A DISTANCE OF 205.39 FEET;
THENCE SOUTH 54008'02" EAST, A DISTANCE OF 149.93 FEET;
THENCE SOUTH 37025'39" WEST, A DISTANCE OF 299.69 FEET;
THENCE ALONG THE ARC OF A CURVE TO THE RIGHT HAVING A RADIUS OF
393.00 FEET AND A CENTRAL ANGLE OF 61 °59'52", AN ARCH DISTANCE OF 425.25
FEET (CHORD BEARS SOUTH 68025535" WEST, 404.81 FEET);
THENCE SOUTH 09025'31" WEST, A DISTANCE OF 54.00 FEET;
THENCE ALONG THE ARC OF A CURVE TO THE LEFT HAVING A RADIUS OF 20.00
FEET AND A CENTRAL ANGLE OF 84013'26", AN ARCH DISTANCE OF 29.40 FEET
(CHORD BEARS SOUTH 57018'48" WEST, 26.82 FEET);
THENCE SOUTH 15012105" WEST, A DISTANCE OF 58.39 FEET;
THENCE ALONG THE ARC OF A CURVE TO THE LEFT HAVING A RADIUS OF 213.00
FEET AND A CENTRAL ANGLE OF 14043'30"5 AN ARCH DISTANCE OF 54.74 FEET
(CHORD BEARS SOUTH 07050'20" WEST, 54.59 FEET);
THENCE SOUTH 00028'35" WEST, A DISTANCE OF 25.07 FEET;
THENCE SOUTH 89031'25" EAST, A DISTANCE OF 205.00 FEET;
THENCE NORTH 84058533" EAST, A DISTANCE OF 66.81 FEET;
THENCE SOUTH 08014'53" EAST, A DISTANCE OF 130.90 FEET;
THENCE ALONG THE ARC OF A CURVE TO THE LEFT HAVING A RADIUS OF 415.00
FEET AND A CENTRAL ANGLE OF 07051'49", AN ARCH DISTANCE OF 56.96 FEET
(CHORD BEARS NORTH 79029' 16" EAST, 56.91 FEET);
THENCE SOUTH 13030129" EAST, A DISTANCE OF 54.01 FEET;
THENCE SOUTH 00028'35" WEST, A DISTANCE OF 106.46 FEET;
THENCE
SOUTH
07021'26"
WEST,
A
DISTANCE
OF
46.14
FEET;
THENCE
SOUTH
12041'20"
WEST,
A
DISTANCE
OF
75.28
FEET;
THENCE
SOUTH
51 °20' 12"
WEST,
A
DISTANCE
OF
55.94
FEET;
THENCE
SOUTH
00028'35"
WEST,
A
DISTANCE
OF
80.00
FEET;
THENCE
NORTH
89031'25"
WEST,
A
DISTANCE
OF
767.35
FEET TO THE POINT OF
BEGINNING,
EXCLUDING
TRACTS
C AND D.
CONTAINING 1,225,902 SQUARE FEET OR 28.143 ACRES, MORE OR LESS.
EXHIBIT A - CONT.
NEIGHBORS POINT FILING N0.2
THAT PORTION OF THE SOUTHWEST QUARTER OF SECTION 12, TOWNSHIP 2
NORTH, RANGE 68 WEST OF THE 6' P.M., WELD COUNTY, COLORADO DESCRIBED
AS FOLLOWS:
COMMENCING AT THE SOUTHWEST CORNER OF SAID SECTION 12 AND
CONSIDERING THE SOUTH LINE OF THE SOUTHWEST QUARTER OF SAID SECTION
12 TO BEAR SOUTH 89031'25" EAST;
THENCE NORTH 67°38'43" EAST, A DISTANCE OF 130330 FEET TO THE POINT OF
BEGINNING;
THENCE NORTH 00028'35" EAST, A DISTANCE OF 25.07 FEET;
THENCE ALONG THE ARC OF A CURVE TO THE RIGHT HAVING A RADIUS OF
213.00 FEET AND A CENTRAL ANGLE OF 14043'30", AN ARC DISTANCE OF 54,74
FEET (CHORD BEARS NORTH 07050120" EAST, 54.59 FEET);
THENCE NORTH 15012'05" EAST, A DISTANCE OF 58,39 FEET;
THENCE ALONG THE ARC OF A CURVE TO THE RIGHT HAVING A RADIUS OF 20,00
FEET AND A CENTRAL ANGLE OF 84013'261', AN ARC DISTANCE OF 29.40 FEET
(CHORD BEARS NORTH 57018948" EAST, 26.82 FEET);
THENCE NORTH 09025'31" WEST, A DISTANCE OF 54.00 FEET;
THENCE ALONG THE ARC OF A NON TANGENT CURVE TO THE LEFT HAVING A
RADIUS OF 393.00 FEET AND A CENTRAL ANGLE OF 61 °59' 52", AN ARC DISTANCE
OF 425.25 FEET (CHORD BEARS NORTH 68025'35" EAST, 404.81 FEET);
THENCE NORTH 37025'39" EAST, A DISTANCE OF 299.69 FEET;
THENCE NORTH 54008'02" WEST, A DISTANCE OF 149.93 FEET;
THENCE NORTH 37009928" EAST, A DISTANCE OF 205.39 FEET;
THENCE NORTH 46057' 17" EAST, A DISTANCE OF 121.94 FEET;
THENCE NORTH 49040555" EAST, A DISTANCE OF 141.59 FEET;
THENCE NORTH 56025'46" EAST, A DISTANCE OF 65.00 FEET;
THENCE NORTH 60010'57" EAST, A DISTANCE OF 139,73 FEET;
THENCE ALONG THE ARC OF A NON TANGENT CURVE TO THE RIGHT HAVING A
RADIUS OF 373.00 FEET AND A CENTRAL ANGLE OF 01 030'42", AN ARC DISTANCE
OF 9.84 FEET (CHORD BEARS SOUTH 19020'30" EAST, 9.84 FEET);
THENCE NORTH 71024'51" EAST, A DISTANCE OF 102.80 FEET;
THENCE NORTH 85030'59" EAST, A DISTANCE OF 78.12 FEET;
THENCE NORTH 08011'24" WEST, A DISTANCE OF 131.34 FEET;
THENCE NORTH 17020'40" WEST, A DISTANCE OF 68.10 FEET;
THENCE NORTH 37005'43" EAST, A DISTANCE OF 81,48 FEET;
EXHIBIT A - CONT.
THENCE
NORTH 27°59'OS"
EAST, A DISTANCE OF 82.46 FEET;
THENCE
NORTH 11004'44"
EAST, A DISTANCE OF 53.68 FEET;
THENCE
NORTH 11000'06"
WEST, A DISTANCE OF 77.68 FEET;
THENCE
NORTH 24017'57"
WEST, A DISTANCE OF 54.00 FEET;
THENCE
NORTH 65042'03"
EAST, A DISTANCE OF 53.69 FEET;
THENCE
ALONG THE ARC OF A CURVE TO THE LEFT HAVING A RADIUS OF 20.00
FEET AND
A CENTRAL ANGLE OF 95021'41 ", AN ARC DISTANCE OF 33.29 FEET
(CHORD
BEARS NORTH 18001' 13" EAST, 29.58 FEET);
THENCE
ALONG THE ARC
OF A CURVE TO THE LEFT HAVING A RADIUS OF 523.00
FEET AND
A CENTRAL ANGLE OF 09056'521, AN ARC DISTANCE OF 90.80 FEET
(CHORD
BEARS NORTH 34038'04" WEST, 90.69 FEET);
THENCE
NORTH 50023'30"
EAST, A DISTANCE OF 204.82 FEET;
THENCE
NORTH 10032907"
WEST, A DISTANCE OF 142.43 FEET;
THENCE
NORTH 11010957"
EAST, A DISTANCE OF 108.23 FEET;
THENCE
SOUTH 89058903"
EAST ALONG THE NORTH LINE OF SAID SOUTHWEST
QUARTER
OF SECTION 12, A DISTANCE OF 146.51 FEET;
THENCE
SOUTH 00000'54"
WEST ALONG THE EAST LINE OF SAID SOUTHWEST
QUARTER,
A DISTANCE OF
1356.45 FEET;
THENCE
NORTH 89059'06"
WEST, A DISTANCE OF 179.00 FEET;
THENCE
NORTH 00000154"
EAST, A DISTANCE OF 67.49 FEET;
THENCE
NORTH 89059'08"
WEST, A DISTANCE OF 140.01 FEET;
THENCE
SOUTH 69033' 17"
WEST, A DISTANCE OF 48.16 FEET;
THENCE
SOUTH 64017'20"
WEST, A DISTANCE OF 126.49 FEET;
THENCE
SOUTH 56051' 16"
WEST, A DISTANCE OF 44.27 FEET;
THENCE
SOUTH 37025'39"
WEST, A DISTANCE OF 140.00 FEET;
THENCE
NORTH 52034'21"
WEST, A DISTANCE OF 11.72 FEET;
THENCE
SOUTH 37025'39"
WEST, A DISTANCE OF 617.84 FEET;
THENCE
NORTH 46035' 15"
WEST, A DISTANCE OF 38.04 FEET;
THENCE
SOUTH 43024345"
WEST, A DISTANCE OF 110.00 FEET;
THENCE
SOUTH 46035' 15"
EAST, A DISTANCE OF 43.79 FEET;
THENCE
SOUTH 43024'45"
WEST, A DISTANCE OF 55.95 FEET;
THENCE
SOUTH 55054' 17"
WEST, A DISTANCE OF 69.31 FEET;
THENCE
SOUTH 76023'49"
WEST, A DISTANCE OF 72.29 FEET;
THENCE
SOUTH 84058'33"
WEST, A DISTANCE OF 66.81 FEET;
THENCE
NORTH 8903 1 '25"WEST,
A DISTANCE OF 205.00 FEET TO THE POINT OF
BEGINNING,
EXCLUDING
TRACT Q.
CONTAINING 6655114 SQUARE FEET OR 15.269 ACRES, MORE OR LESS.
EXHIBIT A
NEIGHBORS POINT FILING NO. S
THAT PORTION OF THE SOUTHWEST QUARTER OF SECTION 12, TOWNSHIP 2
NORTH, RANGE 68 WEST OF THE 6TH P.M., WELD COUNTY, COLORADO DESCRIBED
AS FOLLOWS:
COMMENCING AT THE SOUTHWEST CORNER OF SAID SECTION 12 AND
CONSIDERING THE SOUTH LINE OF THE SOUTHWEST QUARTER OF SAID SECTION
12 TO BEAR SOUTH 89031'25" EAST;
THENCE NORTH 03°24'37" EAST, A DISTANCE OF 742.26 FEET TO THE POINT OF
BEGINNING;
THENCE NORTH 00027'08" WEST, A DISTANCE OF 847.43 FEET;
THENCE ALONG THE ARC OF A CURVE TO THE RIGHT HAVING A RADIUS OF 16.00
FEET AND A CENTRAL ANGLE OF 89059'40", AN ARC DISTANCE OF 25.13 FEET
(CHORD BEARS NORTH 44032'42" EAST, 22.63 FEET);
THENCE NORTH 89032'32" EAST, A DISTANCE OF 114.00 FEET;
THENCE ALONG THE ARC OF A CURVE TO THE RIGHT HAVING A RADIUS OF 20.00
FEET AND A CENTRAL ANGLE OF 90000'201, AN ARC DISTANCE OF 31.42 FEET
(CHORD BEARS NORTH 45027' 18" EAST, 28.29 FEET);
THENCE NORTH 89032' 17" EAST, A DISTANCE OF 54.00 FEET;
THENCE ALONG THE ARC OF A NON TANGENT CURVE TO THE RIGHT HAVING A
RADIUS OF 20.00 FEET AND A CENTRAL ANGLE OF 89059540", AN ARC DISTANCE
OF 31.41 FEET (CHORD BEARS NORTH 44032'42" EAST, 28.28 FEET);
THENCE NORTH 89032'32" EAST, A DISTANCE OF 80.19 FEET;
THENCE ALONG THE ARC OF A CURVE TO THE RIGHT HAVING A RADIUS OF
473.00 FEET AND A CENTRAL ANGLE OF 10032'52", AN ARC DISTANCE OF 87.08
FEET (CHORD BEARS SOUTH 85011'02" EAST, 86.95 FEET);
THENCE SOUTH 14022'29" WEST, A DISTANCE OF 90.00 FEET;
THENCE SOUTH 12037' 10" WEST, A DISTANCE OF 80.00 FEET;
THENCE SOUTH 00042537" EAST, A DISTANCE OF 79.57 FEET;
THENCE SOUTH 21002'33" EAST, A DISTANCE OF 85.79 FEET;
THENCE SOUTH 56010'26" EAST, A DISTANCE OF 56.67 FEET;
THENCE NORTH 89032532" EAST, A DISTANCE OF 166.08 FEET;
THENCE NORTH 59036'31" EAST, A DISTANCE OF 165.96 FEET;
THENCE ALONG THE ARC OF A NON TANGENT CURVE TO THE RIGHT HAVING A
RADIUS OF 473.00 FEET AND A CENTRAL ANGLE OF 06054'02"5 AN ARC DISTANCE
OF 56.97 FEET (CHORD BEARS SOUTH 20050507" EAST, 56.93 FEET);
THENCE SOUTH 17023905" EAST, A DISTANCE OF 98.86 FEET;
THENCE ALONG THE ARC OF A NON TANGENT CURVE TO THE RIGHT HAVING A
RADIUS OF 20.00 FEET AND A CENTRAL ANGLE OF 90000'00", AN ARC DISTANCE
OF 31.42 FEET (CHORD BEARS SOUTH 62023'05" EAST, 28.28 FEET);
THENCE SOUTH 17023'05" EAST, A DISTANCE OF 64.78 FEET;
EXHIBIT A - CONT.
THENCE
SOUTH
88°28'41"
WEST, A DISTANCE OF 123.39 FEET;
THENCE
SOUTH
03033'02"
EAST, A DISTANCE OF 80.01 FEET;
THENCE
SOUTH
26035'45"
EAST, A DISTANCE OF 135.94 FEET;
THENCE
SOUTH
40007124"
EAST, A DISTANCE OF 207.40 FEET;
THENCE
SOUTH
49020' 17"
EAST, A DISTANCE OF 119.91 FEET;
THENCE
SOUTH
46053'07"
EAST, A DISTANCE OF 97.00 FEET;
THENCE
SOUTH
00028'35"
WEST, A DISTANCE OF 360.54 FEET;
THENCE
SOUTH
40003'27"
WEST, A DISTANCE OF 117.08 FEET;
THENCE
NORTH
89031'25"
WEST, A DISTANCE OF 218.16 FEET;
THENCE
NORTH
41015'31"
WEST, A DISTANCE OF 131.53 FEET;
THENCE
NORTH
00027'08"
WEST, A DISTANCE OF 383.46 FEET;
THENCE
NORTH
56048' 54"
EAST, A DISTANCE OF 79.41 FEET;
THENCE
NORTH
40007'24"
WEST, A DISTANCE OF 116.87 FEET;
THENCE
ALONG
THE ARC
OF A CURVE TO THE LEFT HAVING A RADIUS OF 20.00
FEET AND
A CENTRAL ANGLE OF 90000'00, AN ARC DISTANCE OF 31.42 FEET
(CHORD
BEARS NORTH 85007724" WEST, 28.28 FEET);
THENCE
NORTH
40007'24"
WEST, A DISTANCE OF 54.00 FEET;
THENCE
ALONG
THE ARC
OF A NON TANGENT CURVE TO THE LEFT HAVING A
RADIUS
OF 20.00
FEET AND
A CENTRAL ANGLE OF 90000'00, AN ARC DISTANCE
OF 31.42
FEET (CHORD BEARS NORTH 04052'36" EAST, 28.28 FEET);
THENCE
NORTH
40007'24"
WEST, A DISTANCE OF 23.31 FEET;
THENCE
SOUTH
86014'42"
WEST, A DISTANCE OF 177.11 FEET;
THENCE
SOUTH
86031' 17"
WEST, A DISTANCE OF 420.74 FEET TO THE POINT OF
BEGINNING,
EXCLUDING
TRACT B.
CONTAINING 677,644 SQUARE FEET OR 15.557 ACRES, MORE OR LESS.
EXHIBIT B
AFFIDAVIT OF PIITITIONI R
AFFIDAVIT OF MSP CORPORATION
BOARDING EXCLUSION OF PROPERTY FROM
N) IGHDORS POINT METROPOLITAN DISTRICT
I, Marcos Palkownsb,_ am a duty authorized agent of MSP Corporation ("MSP"),
trio 160% owiter.of the real property described in Exhibit A, as attached hereto and
incorporated Herein (the "Property"). Oil behalf of MSP, and in support ortlte Petition of
Exclusion being considered by the Board of Dhrectors of the Neighbors Point
Moto politan District (tile "District") oil Monday, November 5, 2012'to exclude the
Property1rom file bouodarles of the District, I hereby affirm and swear dw following:
1: The proposal to exclude theProperty is itt the best interest of the Property,
in that MSP will help promote the timely mid effioient development of the
Property.
2. 1'hero is no substantial cost or eeonoruic benefit to the sttbjc:et.Ploperty, in
terms of provision of tite District's services, resulting from the exclusion,
as MSP is seeking to have a now metropolitan district. approved by the
Town of Firestone, Colorado, that will encompass the Property once so
formed (the "Now District"), upon the formation of the Now District, the
Property is expected to recoive similar economical and sufficient service
as would he provided by the District.
3. MSP understands and acknowledges that the District shall no longer
provide public facilities and services to the Property upon exclusion
therefrom acid tiie formation of the New District; the Property shall be
provided pudic facilities and services at a reasonable cost. as would be
provided by the District.
An economically feasible alternative service is available to tho Property
upon its exclusion front tlto District acid the formation of tite New Distriot.
Dated this � dfly o)'NoventUer, 20.1.2.
MSP CORPOi;ATION/� //
M 'pt s Pa111 tvitsh, President
t TATE OF COLORADO )
ss.
COUNTY OF A w,xh rx , )
The foregoing Iustruntont ryas acknowledged before me this and day of
November, 2012, by Marcus Patkowitsh, as President of MSP Corporation.
PtZoe \tJ11'NESS my hand andofficial seal.
�ioiA/�Y �m t
+.�._ My couuuissiwt oxplres; III t) ICI°t
�O131.1G e4G v kQt'va,
nr c pQ P Notaty Public
EXHIBIT A
(LEGAL DESCRIPTION OF THE PROPERTY TO BE EXCLUDED FROM THE NEIGHBORS
POINT METROPOLITAN DISTRICT
NEIGHBORS POINT FILING NO. I
THAT PORTION OF THE SOUTHWEST QUARTER OF SECTION 12, TOWNSHIP 2
NORTH, RANGE 68 WEST OF THE 6TH P.M., WELD COUNTY, COLORADO DESCRIBED
AS FOLLOWS:
COMMENCING AT THE SOUTHWEST CORNER OF SAID SECTION 12 AND
CONSIDERING THE SOUTH LINE OF THE SOUTHWEST QUARTER OF SAID SECTION
12 TO BEAR SOUTH 89031'25" EAST;
THENCE SOUTH 89°31'25" EAST ALONG SAID SOUTH LINE OF THE SOUTHWEST
QUARTER, A DISTANCE OF 729.28 FEET TO THE SOUTHEAST CORNER OF THAT
CERTAIN PARCEL OF LAND DESCRIBED IN DEED RECORDED IN BOOK 1553 AT
PAGE 439, AND THE POINT OF BEGINNING; THENCE ALONG THE EAST LINE OF
SAID PARCEL OF LAND THE FOLLOWING TWO (2) COURSES:
1, NORTH 00028'35" EAST, A DISTANCE OF 30.00 FEET;
2. NORTH 00027'08" WEST, A DISTANCE OF 148.17 FEET;
THENCE SOUTH 41015'31" EAST, A DISTANCE OF 131.53 FEET;
THENCE SOUTH 89031'25" EAST, A DISTANCE OF 218.16 FEET;
THENCE NORTH 40003'27" EAST, A DISTANCE OF 117.08 FEET;
THENCE NORTH 00028'35" EAST, A DISTANCE OF 360.54 FEET;
THENCE NORTH 46053'07" WEST, A DISTANCE OF 97.00 FEET;
THENCE NORTH 49020' 17" WEST, A DISTANCE OF 119.91 FEET;
THENCE
NORTH 40007'24" WEST, A DISTANCE OF 207.40 FEET;
THENCE
NORTH 26°35'45" WEST, A DISTANCE OF 135.94 FEET;
THENCE
NORTH 03033'02" WEST, A DISTANCE OF 80.01 FEET;
THENCE
NORTH 88028'41" EAST, A DISTANCE OF 123.39 FEET;
THENCE
NORTH 17023'05" WEST, A DISTANCE OF 64.78 FEET;
THENCE
ALONG THE ARC OF A CURVE TO THE LEFT HAVING A RADIUS
OF 20.00
FEET AND
A CENTRAL ANGLE OF 90000'005, AN ARC DISTANCE OF 31.42
FEET
(CHORD
BEARS NORTH 62023'05" WEST, 28.28 FEET);
THENCE
NORTH 17023'05" WEST, A DISTANCE OF 54.00 FEET;
THENCE
ALONG THE ARC OF A CURVE TO THE LEFT HAVING A RADIUS
OF 20.00
FEET AND
A CENTRAL ANGLE OF 90000'00", AN ARC DISTANCE OF 31.42
FEET
(CHORD
BEARS NORTH 27036555" EAST, 28.28 FEET);
THENCE
NORTH 17023'05" WEST, A DISTANCE OF 98.86 FEET;
THENCE
ALONG THE ARC OF A CURVE TO THE LEFT HAVING A RADIUS
OF 473.00
FEET AND
A CENTRAL ANGLE OF 06054'021, AN ARC DISTANCE OF 56.97
FEET
(CHORD
BEARS NORTH 20050'07" WEST, 56.93 FEET);
THENCE
SOUTH 59036531" WEST, A DISTANCE OF 165.96 FEET;
EXHIBIT A - CONT.
THENCE
SOUTH 89°3232 WEST, A DISTANCE OF 166.08 FEET;
THENCE
NORTH 56010'26" WEST, A DISTANCE OF 56.67 FEET;
THENCE
NORTH 21002'33" WEST, A DISTANCE OF 85.79 FEET;
THENCE
NORTH 00042'37" WEST, A DISTANCE OF 79.57 FEET;
THENCE
NORTH 12037' 10" EAST, A DISTANCE OF 80.00 FEET;
THENCE
NORTH 14022'29" EAST, A DISTANCE OF 90.00 FEET;
THENCE
ALONG THE ARC OF A CURVE TO THE LEFT HAVING A RADIUS OF 473.00
FEET AND
A CENTRAL ANGLE OF 10032'52", AN ARC DISTANCE OF 87.08 FEET
(CHORD
BEARS NORTH 85011'02" WEST, 86.95 FEET);
THENCE
SOUTH 89032'32" WEST, A DISTANCE OF 80.19 FEET;
THENCE
ALONG THE ARC OF A CURVE TO THE LEFT HAVING A RADIUS OF 20.00
FEET AND
A CENTRAL ANGLE OF 89059'40", AN ARC DISTANCE OF 31.41 FEET
(CHORD
BEARS SOUTH 44032'42" WEST, 28.28 FEET);
THENCE
SOUTH 89032' 17" WEST, A DISTANCE OF 54.00 FEET;
THENCE
ALONG THE ARC OF A CURVE TO THE LEFT HAVING A RADIUS OF 20.00
FEET AND
A CENTRAL ANGLE OF 90000'20", AN ARC DISTANCE OF 31.42 FEET
(CHORD
BEARS NORTH 45027518" WEST, 28.29 FEET);
THENCE
SOUTH 89032'32" WEST, A DISTANCE OF 114.00 FEET;
THENCE
ALONG THE ARC OF A CURVE TO THE LEFT HAVING A RADIUS OF 16.00
FEET AND
A CENTRAL ANGLE OF 89059140", AN ARC DISTANCE OF 25.13 FEET
(CHORD
BEARS SOUTH 44032'42" WEST, 22.63 FEET);
THENCE
NORTH 00027'08" WEST ALONG THE EAST LINE OF THAT CERTAIN
PARCEL
OF LAND DESCRIBED IN DEED RECORDED UNDER RECEPTION NO,
29193583
A DISTANCE OF 1072.87 FEET;
THENCE
SOUTH 89058'03" EAST ALONG THE NORTH LINE OF SAID SOUTHWEST
QUARTER OF SECTION 12, A DISTANCE OF 1226,32 FEET;
THENCE
SOUTH 00001'57" WEST, A DISTANCE OF 113.66 FEET;
THENCE
SOUTH 12000'26" EAST, A DISTANCE OF 32.59 FEET;
THENCE
SOUTH 61040'38" EAST, A DISTANCE OF 65.90 FEET;
THENCE
ALONG THE ARCH OF A CURVE TO THE LEFT HAVING A RADIUS OF 44.00
FEET AMD A CENTRAL ANGLE OF 31059'06"5 AN ARC DISTANCE OF 24.56 FEET
(CHORD
BEARS SOUTH 14042'53" EAST, 24.24 FEET);
THENCE
SOUTH 47058'58" WEST, A DISTANCE OF 59.33 FEET;
THENCE
SOUTH 00000'54" WEST, A DISTANCE OF 97.14 FEET;
THENCE
SOUTH 86037526" EAST, A DISTANCE OF 117.46 FEET;
THENCE
SOUTH 17054'46" EAST, A DISTANCE OF 138.43 FEET;
THENCE
SOUTH 51003'37" EAST, A DISTANCE OF 26.25 FEET;
THENCE
ALONG THE ARC OF A CURVE TO THE LEFT HAVING A RADIUS OF 44.00
FEET AND
A CENTRAL ANGLE OF 73023'4Y% AN ARCH DISTANCE OF 56.62 FEET
(CHORD BEARS SOUTH 11003'30" EAST, 52.79 FEET);
THENCE SOUTH 28056'38" WEST, A DISTANCE OF 20.22 FEET;
THENCE SOUTH 13056'45" EAST, A DISTANCE OF 142.80 FEET;
EXHIBIT A - CONT.
THENCE
SOUTH 31°57'02" EAST, A DISTANCE OF 138.60 FEET;
THENCE
ALONG THE ARC OF A CURVE TO THE LEFT HAVING A RADIUS OF 44.00
FEET AND
A CENTRAL ANGLE OF 99013'46", AN ARCH DISTANCE OF 76.20 FEET
(CHORD
BEARS SOUTH 03054739" EAST, 67.03 FEET);
THENCE
SOUTH 23020' 16" WEST, A DISTANCE OF 39.01 FEET;
THENCE
SOUTH 34027'58" EAST, A DISTANCE OF 269.47 FEET;
THENCE
ALONG THE ARC OF A CURVE TO THE LEFT HAVING A RADIUS OF 44.00
FEET AND
A CENTRAL ANGLE OF 103046'43"5 AN ARCH DISTANCE OF 79.70 FEET
(CHORD
BEARS SOUTH 24046'24" EAST, 69.24 FEET);
THENCE
SOUTH 34011100" EAST, A DISTANCE OF 142.04 FEET;
THENCE
SOUTH 37009'28" WEST, A DISTANCE OF 205.39 FEET;
THENCE
SOUTH 54008'02" EAST, A DISTANCE OF 149.93 FEET;
THENCE
SOUTH 37025'39" WEST, A DISTANCE OF 299.69 FEET;
THENCE
ALONG THE ARC OF A CURVE TO THE RIGHT HAVING A RADIUS OF
393.00 FEET AND A CENTRAL ANGLE OF 610599525, AN ARCH DISTANCE OF 425.25
FEET (CHORD
BEARS SOUTH 68025935" WEST, 404.81 FEET);
THENCE
SOUTH 09025731" WEST, A DISTANCE OF 54.00 FEET;
THENCE
ALONG THE ARC OF A CURVE TO THE LEFT HAVING A RADIUS OF 20.00
FEET AND
A CENTRAL ANGLE OF 84013'26"5 AN ARCH DISTANCE OF 29.40 FEET
(CHORD
BEARS SOUTH 57018'48" WEST, 26.82 FEET);
THENCE
SOUTH 15012'05" WEST, A DISTANCE OF 58.39 FEET;
THENCE
ALONG THE ARC OF A CURVE TO THE LEFT HAVING A RADIUS OF 213.00
FEET AND
A CENTRAL ANGLE OF 14043'30319 AN ARCH DISTANCE OF 54.74 FEET
(CHORD
BEARS SOUTH 07050'20" WEST, 54.59 FEET);
THENCE
SOUTH 00028'35" WEST, A DISTANCE OF 25.07 FEET;
THENCE
SOUTH 89031'25" EAST, A DISTANCE OF 205.00 FEET;
THENCE
NORTH 84058'33" EAST, A DISTANCE OF 66.81 FEET;
THENCE
SOUTH 08014'53" EAST, A DISTANCE OF 130.90 FEET;
THENCE
ALONG THE ARC OF A CURVE TO THE LEFT HAVING A RADIUS OF 415.00
FEET AND
A CENTRAL ANGLE OF 07051'49"5 AN ARCH DISTANCE OF 56.96 FEET
(CHORD
BEARS NORTH 79029' 16" EAST, 56.91 FEET);
THENCE
SOUTH 13030'29" EAST, A DISTANCE OF 54.01 FEET;
THENCE
SOUTH 00028535" WEST, A DISTANCE OF 106.46 FEET;
THENCE
SOUTH 07021'26" WEST, A DISTANCE OF 46.14 FEET;
THENCE
SOUTH 12041120" WEST, A DISTANCE OF 75.28 FEET;
THENCE
SOUTH 51020112" WEST, A DISTANCE OF 55.94 FEET;
THENCE SOUTH 00028'35" WEST, A DISTANCE OF 80.00 FEET;
THENCE NORTH 89031'25" WEST, A DISTANCE OF 767.35 FEET TO THE POINT OF
BEGINNING, EXCLUDING TRACTS C AND D.
CONTAINING 1,225,902 SQUARE FEET OR 28.143 ACRES, MORE OR LESS.
EXHIBIT A - CONT.
NEIGHBORS POINT FILING NO. Z
THAT PORTION OF THE SOUTHWEST QUARTER OF SECTION 12, TOWNSHIP 2
NORTH, RANGE 68 WEST OF THE 6'jl P.M., WELD COUNTY, COLORADO DESCRIBED
AS FOLLOWS:
COMMENCING AT THE SOUTHWEST CORNER OF SAID SECTION 12 AND
CONSIDERING THE SOUTH LINE OF THE SOUTHWEST QUARTER OF SAID SECTION
12 TO BEAR SOUTH 89°31'25" EAST;
THENCE NORTH 67°38'43" EAST, A DISTANCE OF 1303.30 FEET TO THE POINT OF
BEGINNING;
THENCE NORTH 00028'35" EAST, A DISTANCE OF 25.07 FEET;
THENCE ALONG THE ARC OF A CURVE TO THE RIGHT HAVING A RADIUS OF
213.00 FEET AND A CENTRAL ANGLE OF 14043130", AN ARC DISTANCE OF 54.74
FEET (CHORD BEARS NORTH 07050'20" EAST, 54.59 FEET);
THENCE NORTH 15012'05" EAST, A DISTANCE OF 58.39 FEET;
THENCE ALONG THE ARC OF A CURVE TO THE RIGHT HAVING A RADIUS OF 20.00
FEET AND A CENTRAL ANGLE OF 8401 Y26", AN ARC DISTANCE OF 29.40 FEET
(CHORD BEARS NORTH 57018548" EAST, 26.82 FEET);
THENCE NORTH 09025'31" WEST, A DISTANCE OF 54.00 FEET;
THENCE ALONG THE ARC OF A NON TANGENT CURVE TO THE LEFT HAVING A
RADIUS OF 393.00 FEET AND A CENTRAL ANGLE OF 61 °59'52", AN ARC DISTANCE
OF 425.25 FEET (CHORD BEARS NORTH 68025'35" EAST, 404.81 FEET);
THENCE NORTH 37025'39" EAST, A DISTANCE OF 299.69 FEET;
THENCE NORTH 54008302" WEST, A DISTANCE OF 149.93 FEET;
THENCE NORTH 37009'28" EAST, A DISTANCE OF 205.39 FEET;
THENCE NORTH 46057' 17" EAST, A DISTANCE OF 121.94 FEET;
THENCE NORTH 49040' 55" EAST, A DISTANCE OF 141.59 FEET;
THENCE NORTH 56025'46" EAST, A DISTANCE OF 65.00 FEET;
THENCE NORTH 60010157" EAST, A DISTANCE OF 139.73 FEET;
THENCE ALONG THE ARC OF A NON TANGENT CURVE TO THE RIGHT HAVING A
RADIUS OF 373.00 FEET AND A CENTRAL ANGLE OF 01 °30'42", AN ARC DISTANCE
OF 9.84 FEET (CHORD BEARS SOUTH 19020530" EAST, 9.84 FEET);
THENCE NORTH 71024'51" EAST, A DISTANCE OF 102.80 FEET;
THENCE NORTH 85030'59" EAST, A DISTANCE OF 78.12 FEET;
THENCE NORTH 08011524" WEST, A DISTANCE OF 131.34 FEET;
THENCE NORTH 17020'40" WEST, A DISTANCE OF 68.10 FEET;
THENCE NORTH 37005'43" EAST, A DISTANCE OF 81.48 FEET;
EXHIBIT A -CONT.
THENCE
NORTH 27°59'OS" EAST, A DISTANCE OF 82.46 FEET;
THENCE
NORTH 11004'44" EAST, A DISTANCE OF 53.68 FEET;
THENCE
NORTH 11 000'06" WEST, A DISTANCE OF 77.68 FEET;
THENCE
NORTH 24017'57" WEST, A DISTANCE OF 54.00 FEET;
THENCE
NORTH 65042103" EAST, A DISTANCE OF 53.69 FEET;
THENCE
ALONG THE ARC OF A CURVE TO THE LEFT HAVING A RADIUS OF 20.00
FEET AND A CENTRAL ANGLE OF 95021'41"3 AN ARC DISTANCE OF 33.29 FEET
(CHORD
BEARS NORTH 18001' 13" EAST, 29.58 FEET);
THENCE
ALONG THE ARC OF A CURVE TO THE LEFT HAVING A RADIUS OF 523.00
FEET AND
A CENTRAL ANGLE OF 09056'52", AN ARC DISTANCE OF 90.80 FEET
(CHORD
BEARS NORTH 34038T4" WEST, 90.69 FEET);
THENCE
NORTH 50023'30" EAST, A DISTANCE OF 204.82 FEET;
THENCE
NORTH 10032'07" WEST, A DISTANCE OF 142.43 FEET;
THENCE
NORTH 11 ° 10' 57" EAST, A DISTANCE OF 108.23 FEET;
THENCE
SOUTH 89058'03" EAST ALONG THE NORTH LINE OF SAID SOUTHWEST
QUARTER
OF SECTION 12, A DISTANCE OF 146.51 FEET;
THENCE
SOUTH 00000'54" WEST ALONG THE EAST LINE OF SAID SOUTHWEST
QUARTER,
A DISTANCE OF 1356.45 FEET;
THENCE
NORTH 89059'06" WEST, A DISTANCE OF 179.00 FEET;
THENCE
NORTH 00000'54" EAST, A DISTANCE OF 67.49 FEET;
THENCE
NORTH 89059'08" WEST, A DISTANCE OF 140.01 FEET;
THENCE
SOUTH 69033' 17" WEST, A DISTANCE OF 48.16 FEET;
THENCE
SOUTH 64017'20" WEST, A DISTANCE OF 126.49 FEET;
THENCE
SOUTH 56051' 16" WEST, A DISTANCE OF 44.27 FEET;
THENCE
SOUTH 37025'39" WEST, A DISTANCE OF 140.00 FEET;
THENCE
NORTH 52034'21" WEST, A DISTANCE OF 11.72 FEET;
THENCE
SOUTH 37025539" WEST, A DISTANCE OF 617.84 FEET;
THENCE
NORTH 46035' 15" WEST, A DISTANCE OF 38.04 FEET;
THENCE
SOUTH 43024'45" WEST, A DISTANCE OF 110.00 FEET;
THENCE
SOUTH 4603591555 EAST, A DISTANCE OF 43.79 FEET;
THENCE
SOUTH 43024'45" WEST, A DISTANCE OF 55.95 FEET;
THENCE
SOUTH 55054'17" WEST, A DISTANCE OF 69.31 FEET;
THENCE
SOUTH 76023'49" WEST, A DISTANCE OF 72.29 FEET;
THENCE
SOUTH 84058'33" WEST, A DISTANCE OF 66.81 FEET;
THENCE
NORTH 89031325" WEST, A DISTANCE OF 205.00 FEET TO THE POINT OF
BEGINNING,
EXCLUDING TRACT Q.
CONTAINING 6655114 SQUARE FEET OR 15.269 ACRES, MORE OR LESS.
EXHIBIT A- CONT.
NEIGHBORS POINT FILING No. 5
THAT PORTION OF THE SOUTHWEST QUARTER OF SECTION 12, TOWNSHIP 2
NORTH, RANGE 68 WEST OF THE 6' P.M., WELD COUNTY, COLORADO DESCRIBED
AS FOLLOWS:
COMMENCING AT THE SOUTHWEST CORNER OF SAID SECTION 12 AND
CONSIDERING THE SOUTH LINE OF THE SOUTHWEST QUARTER OF SAID SECTION
12 TO BEAR SOUTH 89031'25" EAST;
THENCE NORTH 03°24'37" EAST, A DISTANCE OF 742.26 FEET TO THE POINT OF
BEGINNING;
THENCE NORTH 00027'08" WEST, A DISTANCE OF 847.43 FEET;
THENCE ALONG THE ARC OF A CURVE TO THE RIGHT HAVING A RADIUS OF 16.00
FEET AND A CENTRAL ANGLE OF 89059'40", AN ARC DISTANCE OF 25.13 FEET
(CHORD BEARS NORTH 44032'42" EAST, 22.63 FEET);
THENCE NORTH 89032'32" EAST, A DISTANCE OF 114.00 FEET;
THENCE ALONG THE ARC OF A CURVE TO THE RIGHT HAVING A RADIUS OF 20.00
FEET AND A CENTRAL ANGLE OF 90000920"5 AN ARC DISTANCE OF 31.42 FEET
(CHORD BEARS NORTH 45027' 18" EAST, 28.29 FEET);
THENCE NORTH 89032' 17" EAST, A DISTANCE OF 54.00 FEET;
THENCE ALONG THE ARC OF A NON TANGENT CURVE TO THE RIGHT HAVING A
RADIUS OF 20.00 FEET AND A CENTRAL ANGLE OF 89059'40", AN ARC DISTANCE
OF 31.41 FEET (CHORD BEARS NORTH 44032142" EAST, 28.28 FEET);
THENCE NORTH 89032'32" EAST, A DISTANCE OF 80.19 FEET;
THENCE ALONG THE ARC OF A CURVE TO THE RIGHT HAVING A RADIUS OF
473.00 FEET AND A CENTRAL ANGLE OF 10032152", AN ARC DISTANCE OF 87.08
FEET (CHORD BEARS SOUTH 85011 '02"EAST, 86.95 FEET);
THENCE SOUTH 14022'29" WEST, A DISTANCE OF 90.00 FEET;
THENCE SOUTH 12037710" WEST, A DISTANCE OF 80.00 FEET;
THENCE SOUTH 00042'37" EAST, A DISTANCE OF 79.57 FEET;
THENCE SOUTH 21002533" EAST, A DISTANCE OF 85.79 FEET;
THENCE SOUTH 56010'26" EAST, A DISTANCE OF 56.67 FEET;
THENCE NORTH 89032'32" EAST, A DISTANCE OF 166.08 FEET;
THENCE NORTH 59036531" EAST, A DISTANCE OF 165.96 FEET;
THENCE ALONG THE ARC OF A NON TANGENT CURVE TO THE RIGHT HAVING A
RADIUS OF 473.00 FEET AND A CENTRAL ANGLE OF 06054'02"5 AN ARC DISTANCE
OF 56.97 FEET (CHORD BEARS SOUTH 20050507" EAST, 56.93 FEET);
THENCE SOUTH 17023'05" EAST, A DISTANCE OF 98.86 FEET;
THENCE ALONG THE ARC OF A NON TANGENT CURVE TO THE RIGHT HAVING A
RADIUS OF 20.00 FEET AND A CENTRAL ANGLE OF 90000'005, AN ARC DISTANCE
OF 31.42 FEET (CHORD BEARS SOUTH 62023'05" EAST, 28.28 FEET);
THENCE SOUTH 17023505" EAST, A DISTANCE OF 64.78 FEET;
EXHIBIT A - CONT.
THENCE
SOUTH
88°2841
WEST, A DISTANCE OF 123.39 FEET;
THENCE
SOUTH
03033102"
EAST, A DISTANCE OF 80.01 FEET;
THENCE
SOUTH
26035'45"
EAST, A DISTANCE OF 135.94 FEET;
THENCE
SOUTH
40007'24"
EAST, A DISTANCE OF 207.40 FEET;
THENCE
SOUTH
49020' 17"
EAST, A DISTANCE OF 119.91 FEET;
THENCE
SOUTH
46053'07"
EAST, A DISTANCE OF 97.00 FEET;
THENCE
SOUTH
00028'35"
WEST, A DISTANCE OF 360.54 FEET;
THENCE
SOUTH
40003'27"
WEST, A DISTANCE OF 117.08 FEET;
THENCE
NORTH
89031'25"
WEST, A DISTANCE OF 218.16 FEET;
THENCE
NORTH
41015'31"
WEST, A DISTANCE OF 131.53 FEET;
THENCE
NORTH
00027'08"
WEST, A DISTANCE OF 383.46 FEET;
THENCE
NORTH
56048'54"
EAST, A DISTANCE OF 79.41 FEET;
THENCE
NORTH
40007'24"
WEST, A DISTANCE OF 116.87 FEET;
THENCE
ALONG
THE ARC
OF A CURVE TO THE LEFT HAVING A RADIUS OF 20.00
FEET AND
A CENTRAL ANGLE OF 90000'001, AN ARC DISTANCE OF 31.42 FEET
(CHORD
BEARS NORTH 8500T24"
WEST, 28.28 FEET);
THENCE
NORTH
40007'24"
WEST, A DISTANCE OF 54.00 FEET;
THENCE
ALONG
THE ARC
OF A NON TANGENT CURVE TO THE LEFT HAVING A
RADIUS OF 20.00
FEET AND A CENTRAL ANGLE OF 90000'00", AN ARC DISTANCE
OF 31.42
FEET (CHORD
BEARS NORTH 04052'36" EAST, 28.28 FEET);
THENCE
NORTH
40007'24"
WEST, A DISTANCE OF 23.31 FEET;
THENCE
SOUTH
86014'42"
WEST, A DISTANCE OF 177.11 FEET;
THENCE
SOUTH
86031' 17"
WEST, A DISTANCE OF 420.74 FEET TO THE POINT OF
BEGINNING,
EXCLUDING
TRACT B.
CONTAINING 677,644 SQUARE FEET OR 15.557 ACRES, MORE OR LESS.
CERTIrICATE'
CONIES NOW, Jet7•y Bouldin, the Treasurer/Secretary of the Neighbors Point Metropolitan
District, and hereby certifies that the attached Resolution and Order is a true and accurate copy of the
Resolution and Order adopted by the Board of Directors at its regular meeting held Monday, November
53 2012, at 12:00 P.M., at 700 17`" Street, Suite 2200, Denver, CO 80202.
WITNESS my hand this 5`h day of November, 2012.
4dl 4L(5�
Jerry ouldi ' reasur doecretary
NeighbonsP int Metropolitan District
Exhibit E
Financial Plan
-21-
DAVIDSON ,
COMPANIES,' ,
Neighbors Point Metropolitan District
Bond Assumptions
1. 7.5% interest rate
a. Represents the long-term average of non -rated rates for similar credits
2.
30
year
final maturity
3.
10
year
call protection
Development Assumptions
1. 271 single family detached homes in the development
2. 3 lot sizes ranging from 6,000 to 8,500 square feet
3. Home prices ranging from $225,000 to $280,000 in 2013 dollars, inflating at 2%annually
thereafter
4. Initial homes constructed beginning in 2013
5. Last homes constructed in 2021
6. Finished homes are reassessed biennially with 2%inflation in value (approximately 1%
inflation annually)
7. Lots are constructed a year ahead of homes and are valued at 10% of the value of that
home when completed
District Assumptions
1. 35 mills imposed for debt service
2. 5 mills imposed for district operations
D.A. Davidson & Co. Fixed income Capital Markets
1600 Broadway, Suite 1100 •Denver, Colorado 80202-4922 • (303) 764-6000 • (800) 942-7557 •Fax (303) 764-5770
www.dadavidson.com
D.A. Davidson & Co.
Member SIPC
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DA.Da &on&Cs.
SOURCES AND USES OF FUNDS
NEIGHBORS POINT METROPOLITAN DISTRICT
GENERAL OBLIGATION BONDS, SERIES 2015
Non -Rated, 30-Year Maturity
(Sized on growth thru. 2016 - sc2 dev.)
[ Preliminary -- for discussion only ]
Dated Date 12l01/2015
Delivery Date 12/01/2015
Sources
Bond Proceeds:.
Par Amount
1,2505000.00
1,250,000.00
Uses:
Project Fund Deposits:
Project Fund Deposit
Other Fund Deposits:
Capitalized Interest Fund
Delivery Date Expenses:
Cost of Issuance
1,012,734.14
1875265.86
50,000.00
112503000.00
Nov 9, 2012 10:19 am Prepared by D.A. Davidson & Co Quantitative Group -PM (Neighbors Point MD 11:ENOV0912-15NRE2) Page 1
DA.Davldson & fu.
BOND DEBT SERVICE
NEIGHBORS POINT METROPOLITAN DISTRICT
GENERAL OBLIGATION BONDS, SERIES 2015
Non -Rated, 30-Year Maturity
(Sized on growth thru. 2016 - sc2 dev.)
[ Preliminary -- for discussion only ]
Annual
Period Debt
Ending Principal Coupon Interest Debt Service Service
06/01l2016
46,875.00
46,875.00
12/01/2016
46,875.00
46,876.00
93,750
06/0112017
46,875.00
46,875.00
12/01/2017
46,876.00
46,876.00
93,750
06/01/2018
46,875.00
462875.00
12/01/2018
46,875.00
46,875.00
932750
06/01/2019
467875.00
46,875.06
12/01/2019
5,000
7.500%
462875.00
51,875.00
98,750
06/01/2020
46,687.50
46,687.50
12/01/2020
10,000
7,500%
46,687.50
56,687.50
103,375
06/01/2021
46,312.50
462312.60
12/01/2021
10,000
7.500%
46,312.50
56$12.50
1027625
06/01/2022
45,937.50
45,937.50
12/01/2022
10,000
7.500%
452937.50
55,937.50
101,875
06/01/2023
45,562.50
45,562.50
12/01/2023
15,000
7,500%
45,562.50
60,562.60
106,125
06/01/2024
45,000.00
452000.00
12/01/2024
15,000
7.500%
453000.00
60,000.00
1055000
06/01/2025
442437.50
44,437.50
12/01/2025
15,000
7.500%
445437.50
59,437.60
103,875
06/01/2026
43,875.00
43,875.00
12/01/2026
20,000
7.500%
43,875.00
63,875.00
107,750
06/01/2027
43,125.00
43,125.00
12/01/2027
20,000
7.500%
433125.00
63,125.00
1067250
06/01/2028
421375.00
42,375.00
12/01/2028
255000
7.500%
425375.00
67,375.00
10%750
06/01/2029
41,437.50
41,437.50
12/01/2029
25,000
7.500%
41,437.50
66,437.60
107,875
06/01/2030
40,500.00
407500.00
12/01/2030
30,000
7.500%
40J500.00
70t600.00
1111000
06/01/2031
39,375.00
3%375.00
12/01/2031
35,000
7.500%
395375.00
74,375.00
113,750
08/01/2032
38,062.50
38,062.50
12/01/2032
40,000
7.500%
38,062.50
783062.50
116,125
06/01/2033
36,662.50
36,562.50
12/01/2033
40,000
7.500%
36,562.50
762662.50
113;125
06/01/2034
35,062.50
35,082.50
12/01/2034
452000
7.500%
35,062.50
80,062.50
115,126
06/01/2035
33,375.00
33,375.00
12/01/2035
50,000
7.500%
33,376.00
833375.00
116,760
06/01/2036
31,500.00
313500.00
12/01/2036
55,000
7.500%
31,500.00
867500.00
118,000
06/01/2037
293437.50
29,437.50
12/01/2037
605000
7.500%
29,437.50
89,437.50
118,875
06/01/2038
277187.50
273187.50
12101/2038
65,000
7.500%
27,187.50
92,187.50
119,375
06101/2039
24,750.00
242750.00
12/01/2039
70,000
7.500%
24,760.00
94,750.00
119,600
06/01/2040
223125.00
22,125.00
12/01/2040
80,000
7.500%
22,125.00
102,125.00
124,250
06/01/2041
195125.00
19,125.00
12/01/2041
85,000
7.500%
19j125.00
104,125.00
123,250
06/01/2042
15,937.50
15,937.60
12/01/2042
95,000
7.500%
16,937.50
110,937.50
126,875
06/01/2043
12,375.00
122376.00
12/01/2043
1002000
7.500%
12,375.00
1125375.00
124,760
06/01/2044
81625.00
8,625.00
12/01/2044
110,000
7.500%
8,625.00
118,625.00
127,250
06/01/2045
4,500.00
4,500.00
12101/2045
120,000
7.500%
41500.00
124,500.00
129,000
1$2501000
23101,600.00
31351,500.00
31361,500
Nov 9, 2012 10:19 am Prepared by D.A. Davidson & Co Quantitative Group -PM (Neighbors Point MD 11:ENOV0912-15NRE2) Page 2
Date
Principal
NET DEBT SERVICE
NEIGHBORS POINT METROPOLITAN DISTRICT
GENERAL OBLIGATION BONDS, SERIES 2015
Non -Rated, 30-Year Maturity
(Sized on growth thru. 2016 - sc2 dev.)
[ Preliminary -- for discussion only ]
Capitalized
Total Interest Net
Interest Debt Service Fund Debt Service
Annual
Net D/S
06/01/2016
46,875.00
46,875.00-46,875
12/01/2016
463875.00
46,875.00-46,875
06/01/2017
46,875.00
46,875.00-46,875
12/01/2017
46,875.00
461875.00-46,875
06/01/2018
46,875.00
46,875.00
46,876.00
12/01/2018
- 462875.00
46,875.00
46,875.00
93,750
06/01/2019
46,875.00
46,875.00
46,875.00
12/01/2019
51000
46,875.00
51,875.00
513875.00
98,750
06/01/2020
46,687.50
46,687.50
46,687.50
12101/2020
10,000
46,687.50
56,687.50
56,687.50
103,375
06/01/2021
461312.50
46,312.50
46,312.50
12/01/2021
10,000
46,312.50
56,312.50
56,312.50
102,625
06/01/2022
451937.50
46,937.60
45,937.50
12/01/2022
103000
45,937.50
55,937.50
55,937.50
101,875
06/01/2023
45,562.50
45,562.50
45,562.50
12/01/2023
157000
45,562.50
60,562.50
60,562.50
106,125
06/01/2024
45,000.00
45,000.00
45,000.00
12/01/2024
15,000
45,000.00
60,000.00
60,000.00
105,000
06/01/2025
44,437.50
44,437.50
44,437.50
12/01/2025
15,000
44,437.50
59,437.50
59,437.50
1033875
06/01/2026
43,875.00
43,875.00
43,876.00
12/01/2026
20,000
43,875.00
63,875.00
63,875.00
107,750
06/01/2027
43,125.00
43,125.00
43,125.00
12/01/2027
20,000
43,125.00
633125.00
63,125.00
106,250
06/01/2028
42$75.00
42,376.00
42,375.00
12/01/2028
25,000
42,375.00
673375.00
67,375.00
109,750
06/01/2029
41,437.50
41,437.50
41,437.50
12/01/2029
25,000
41,437.50
66,437.50
66,437.60
107,875
05/01/2030
40,500.00
40,500.00
40,500.00
12/01/2030
30,000
40,500.00
70t500.00
70,500.00
111,000
06/01/2031
39,376.00
39,375.00
39,375.00
12/01/2031
35,000
39,375.00
74,376.00
74,376.00
1132760
06/01/2032
38,062.50
38,062.50
38,062.50
12/01/2032
40,000
38,062.50
78,062.60
78,062.60
116,125
06/01/2033
36,662.50
36,562.50
36,562.50
12/01/2033
40,000
36,562.50
76,562.60
76,562.50
113,125
06/0112034
35,062.50
35,062.50
355062.50
12/01/2034
45,000
35,062.50
802062.50
802062.50
115,125
06/01/2035
33,375.00
337375.00
33,375.00
12/01/2035
50,000
331375.00
837375.00
83,375.00
1163750
06/01/2036
31,500.00
31r500.00
31,500.00
12/01/2036
55,000
31,500.00
86,500.00
86,500.00
118,000
06/01/2037
29,437.50
29,437.50
29,437.50
12/01/2037
60,000
29,437.50
89,437.50
89,437.50
1182875
06/01/2038
273187.50
27,187.50
27,187.50
12/01/2038
655000
277187.50
92,187.50
92,187.50
119,375
06/01/2039
24,750.00
243750.00
24,750.00
12/01/2039
70,000
245750.00
94,750.00
943750.00
119,500
06/01/2040
222125.00
223125.00
22,125.00
12/01/2040
80,000
22,125.00
1025125.00
102,125.00
1243250
06/01/2041
19,125.00
19,125.00
19,125.00
12/01/2041
85,000
19,125.00
104,125.00
1047125.00
1235250
06/01/2042
15,937.50
15,937.50
15,937.50
12/01/2042
95,000
15,937.50
110,937.50
110,937.50
126,875
06/01/2043
12,375.00
12,375.00
125375.00
12/01/2043
100,000
12,375.00
1123375.00
112,375.00
124,750
06/01/2044
81625.00
8,625.00
8,625.00
12/01/2044
110,000
8,625.00
1182625.00
118,625.00
127,250
06/01/2045
4,500.00
41500.00
41500.00
12/01/2045
120,000
4,500.00
1243500.00
1243500.00
129,000
17250,000
23101,500.00
313512500.00-1872500
31164,000.00
311645000
Nov 9, 2012 10:19 am Preparetl by D.A. Davidson & Co Quan6lative Group -PM (Neighbors Poinl MD 11:ENOV0912-15NRE2) Page 3
r r.
SOURCES AND USES OF FUNDS
NEIGHBORS POINT METROPOLITAN DISTRICT
GENERAL OBLIGATION BONDS, SERIES 2020
Non -Rated, 30-Year Maturity
(Sized on All Growth - sc2 dev.)
[ Preliminary -- for discussion only ]
Dated Date 12/01l2020
Delivery Date 12/01/2020
Sources
Bond Proceeds:
Par Amount 1,650,000.00
1,650,000.00
Uses:
Project Fund Deposits:
Project Fund Deposit 155229155.92
Other Fund Deposits:
Capitalized Interest Fund 61,844.08
Delivery Date Expenses:
Cost of Issuance 66,000.00
1,6503000.00
Nov 9, 2072 70:22 am Prepared by D.A. Davidson 6 Co Quantitative Group -PM (Neighbors Point MD 7 i:ENOV0912-20NRE2) Page t
DA.Daddsou A fn.
Period
Ending
BOND DEBT SERVICE
NEIGHBORS POINT METROPOLITAN DISTRICT
GENERAL OBLIGATION BONDS, SERIES 2020
Non-Rated,30-Year Maturity
(Sized on All Growth - sc2 dev.)
[ Preliminary -- for discussion only ]
Principal Coupon Interest Debt Service
Annual
Debt
Service
O6/01/2021
61,875.00
61,875.00
12/01/2021
61,876.00
61,875.00
123,750
06/01/2022
61,875.00
61,875.00
12/01/2022
61,876.00
61,875.00
123,760
06/01/2023
61,875.00
61,875.00
12/01/2023
61,875.00
613875.00
123,750
O6/01/2024
61,875.00
612875.00
12/01/2024
61,875.00
61,875.00
123,750
06/01/2025
61,875.00
61,875.00
12/0112025
61,875.00
61,875.00
123,750
O6/0112026
61,875.00
61,875.00
12/01/2026
61,875.00
613875.00
123,750
O6/01/2027
612875.00
61,875.00
12/01/2027
51000
7.500%
61,875.00
665875.00
128,750
06101/2028
61,687.50
61,687.50
12/01/2028
5,000
7.500%
61,687.50
66,687.50
128,375
06/01/2029
61,500.00
61,500.00
12/01/2029
5,000
7.500%
61,600.00
66,500.00
1283000
06/01/2030
613312.50
61,312.50
12/01/2030
10,000
7,500%
61,312.50
713312.50
132,625
06/01/2031
60,937.50
602937.50
12/01/2031
5,000
7.500%
60,937.60
657937.50
1261875
06/01/2032
60,750.00
605750.00
12/01/2032
10,000
7.500%
60,760.00
70,750.00
131,500
06/01/2033
60,375.00
60,375.00
12/01/2033
15,000
7.500%
602376.00
75,375.00
135,760
O6/01/2034
595812.50
593812.50
12/01/2034
20,000
7.500%
59,812.50
79,812.50
13%625
O6101/2035
59,062.50
6%062.50
12/01/2035
20,000
7.500%
59,062.50
79,062.50
138,125
06/01/2036
58,312.50
68,312.50
12/01/2036
25,000
7.500%
58,312.50
83,312.50
141,625
O610112037
57,375.00
57,376.00
12/01/2037
25,000
7.500%
577375.00
82,375.00
139,760
06/01/2038
56,437.50
56,437.50
12/01/2038
30,000
7.600%
56,437.50
86,437.50
142,875
06/01/2039
55,312.50
55,312.50
12/01/2039
30,000
7.500%
55,312.50
85,312.50
140,625
06/01/2040
54,187.50
54,187.50
12/01/2040
35,000
7.500%
54,187.50
89,187.50
143,375
06/01/2041
52,875.00
52,875.00
12/01/2041
40,000
7.500%
52,875.00
92,875.00
145,750
O6/01/2042
511375.00
512375.00
12/01/2042
45,000
7.500%
51,375.00
96,375.00
147,750
O6/01/2043
49,687.60
49,687.50
12/0112043
50,000
7.500%
49,687.50
99,687.50
149,375
06/01/2044
471812.50
47,812.50
12/01/2044
55,000
7.500%
47,812.50
102,812.50
1503625
O610112045
45,750.00
457750.00
12/01/2045
60,600
7.500%
455750.00
105,750.00
151,500
06/01/2046
43,600.00
432500.00
12/01/2046
195,000
7.500%
43,500.00
238,500.00
282,000
O6101/2047
36,187.60
36,187.50
12/01/2047
210,000
7.500%
363187.50
246,187.50
282,375
O6/0112048
28,312.50
283312.50
12/01/2048
230,000
7.500%
289312.50
268,312.50
286,625
06/01/2049
19,687.50
195687.50
12/01/2049
250,000
7.500%
19,687.50
269,687.50
289,375
06/01/2050
10,312.50
10,312.50
12/01/2050
276,000
7.500%
10,312.50
285,312.50
295,625
11650,000
311713375.00
4,821,375.00
43821,375
Nov 9, 2012 10:22 am Prepared by D.A. Davidson & Co Quantitative Group -PM (Neighbors Paint MD 11:ENDV0912-20NRE2) Page 2
DA.thvldaenACo.
rt�hv WC
NET DEBT SERVICE
NEIGHBORS POINT METROPOLITAN DISTRICT
GENERAL OBLIGATION BONDS, SERIES 2020
Non -Rated, 30-Year Maturity
(Sized on All Growth - sc2 dev.)
[ Preliminary -- for discussion only ]
Capitalized
Total Interest Net Annual
Date Principal Interest Debt Service Fund Debt Service Net D/S
O6/01/2021
61,875.00
61,875.00
-61,875
12/01/2021
61,875.00
61,876.00
61,875.00
61,875
06/01/2022
61,876.00
61,875.00
61,876.00
12/01/2022
61,875.00
613875.00
61,875.00
123,750
06/01/2023
61,876.00
611875.00
61,875.00
12/01/2023
61,875.00
61,875.00
61,875.00
123,760
06/01/2024
61,875.00
61,875.00
611875.00
12/01/2024
61,875.00
61,875.00
61,875.00
123,750
06/01/2025
61,875.00
61,875.00
61,875.00
12/01/2025
61,875.00
61,876.00
61,875.00
123,750
06/01/2026
613875.00
61,875.00
61,875.00
12/01/2026
61,875.00
61,876.00
61,875.00
123,750
06/01/2027
61,875.00
61,875.00
61,875.00
12/01/2027
51000
61,875.00
665875.00
66,875.00
128,750
06/01/2028
61,687.50
61,687.50
61,687.50
12/01/2028
52000
61,687.50
66,687.50
66,687.50
128,375
08/01/2029
61,500.00
61,500.00
61,600.00
12/01/2029
5,000
61,500.00
663500.00
66,500.00
128,000
06/01/2030
61,312.50
615312.50
61,312.50
12/01/2030
10,000
61,312.50
71,312.50
71,312.50
132,625
06101/2031
60,937.50
60,937.50
60,937.60
12/01/2031
51000
60,937.50
65,937.60
65,937.50
126,875
06/01/2032
60,750.00
60,750.00
60,750.00
12/01/2032
101000
60J750.00
70,750.00
703750.00
131,500
06/01/2033
60,375.00
60,375.00
602375.00
12/01/2033
155000
60T375.00
75,375.00
75,375.00
135,750
06/01/2034
59,812.50
597812.50
59,812.50
12/01/2034
20,000
59,812.50
79,812.50
79,812.60
139,625
06/01/2035
59,062.50
59,062.50
59,062.50
12/01/2035
20,000
59,062.50
79,062.60
79,062.50
1385125
06/01/2036
58,312.50
58,312.50
583312.50
12/01/2036
25,000
58,312.50
83,312.50
83,312.50
141,625
06/01/2037
57,375.00
57,375.00
577375.00
12/01/2037
25,000
57,375.00
822375.00
82,375.00
139,750
06/01/2038
56,437.50
56,437.50
56,437.50
12/01/2038
30,000
56,437.50
86,437.50
86,437.50
1422875
06/01/2039
55,312.50
55,312.50
55,312.50
12/01/2039
30,000
652312.60
85,312.50
85,312.50
140T625
06/01/2040
54,187.50
54,187.60
542187.50
12/01/2040
35,000
54,187.50
89,187.50
895187.50
143,375
06/01/2041
52,875.00
52,875.00
522875.00
12/01/2041
40,000
52,875.00
92,875.00
92,875.00
145,750
06/01/2042
51,375.00
51,375.00
51,375.00
12/01/2042
45,000
51,375.00
96,375.00
96,375.00
147,750
06/01/2043
49,687.50
49,687.50
49,687.60
12/01/2043
50,000
495687.50
991687.50
99,687.50
149,375
06/01/2044
47,812.50
472812.50
47,812.50
12/01/2044
55,000
47,812.50
102,812.50
1022812.50
150,625
06/01/2045
45,750.00
45,750.00
45,750.00
12/01/2045
60,000
45,750.00
105,750.00
105,750.00
151,500
06/01/2046
431500.00
43,500.00
433500.00
12/01/2046
195,000
437500.00
238,500.00
2383500.00
282,000
06/01/2047
36,187.50
36,187.50
363187.50
12/01/2047
210,000
36,187.50
246,187.50
246,187.50
282,375
06/01/2048
28,31250
28,312.50
28,312.50
12/01/2048
230,000
28,312.50
258,312.50
258,312.50
286,626
06/01/2049
19,687.50
19,687.50
19,687.50
12/01/2049
250,000
19,687.50
269,687.50
269,687.50
289,375
06/01/2050
10,312.50
10,312.60
10,312.60
12/01/2050
275,000
102312.50
285,312.50
285,312.50
295,626
1,650,000
35171,375.00
4,8211375.00
-61,875 4,7597500.00
4176%600
Nov 9, 2012 10:22 am Prepared by D.A. Davidson & Co Quantitative Group -PM (Neighbors Point MD 11:ENOV0912-20NRE2) Page 3
Prudential Rocky Mountain, REACTORS°
275 S. Main Street, Suite 166
Longmont, CO 86507
Bus 3o3 772-2222 Fax 363 772-1377
regoestsQprutlentialrockymougtaiacom
November 26, 2012
Town of Firestone, Colorado
Atten: Wes Lavanchy, Town Manager
151 Grant Avenue
Firestone, CO 80525
Re: Neighbors Point Metropolitan District
Service Plan Modification and Exclusion of Property
Dear Mr. Lavanchy:
My office was asked to project marketing and absorption figures for the real estate
development project that will remain within the boundaries of the above -referenced
District after the proposed exclusion of a portion of the District to occur in the next
several months. I have based my analysis of the market and conclusions on
conversations with Everett Pfeiff, the Developer of the subject property, and my
familiarity with the real estate development market in Firestone, the I-25 North Corridor
and vicinity over many years. A summary of projections for lot sales in the District post -
exclusion is as follows:
Development Projections
1. 271 single family detached homes in the development;
2. 31ot sizes ranging from 6,000 to 8,500 square feet;
3. Home prices ranging from $225,000 to $280,000 in 2013 dollars, inflating at 2%
annually thereafter;
4. Initial homes constructed begimiing in 2013;
5. Last homes constructed in 2021;
6. Finished homes are reassessed biennially with a 2%inflation in value
(approximately 1 %inflation annually);
7. Lots are constructed a year ahead of homes and are valued at 10% of the value of
that home when completed;
8. Lots are sold and built on at the rate of 32 homes per year commencing in 2013,
with 151ots sold and built on in 2021.
oAn independemly owned and operated memhar o(Pruden[ial Peal Estate Afliliates, Inc.
Hopefully, this information meets the need of the Town of Firestone. For any
additional information, I can be reached at 303-709-0158.
Sincerely,
Jerry Schlagel
Broker, Prudential Rocky Mountain Realtors
November 26, 2012
Board of Trustees
Town of Firestone
Post Office Box 100
Firestone, Colorado 80520
�: Analysis of Aevelopwent Projectians
Neighbors Point Metropolitan District Exclusion
and Service Plan Modification
Dear Town Trustees:
We have reviewed the marketing and absorption projections contained within the letter
from Jerry Schlagel or Prudential Rooky Mountain Realtors and support its findings. The
Development Projections also satisfactorily confirms our projections and we request that it be
admitted as a part of the Neighbors Point Metropolitan District Service Plan Modification
application.
Please do nat hesitate to call with any questions you have about this correspondence.
Veit' truly yours,
Everett P£eiff
Authorized Agent far
l & J Partnership, L.P.
A California limited partnership
Everett Pfei£f; Authorized Agent