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HomeMy WebLinkAboutAUG 2005 - DEC 2006Resolutions For the Town of Firestone 05-23 -06-58 Aug. 11, 2005 -Dec. 14, 2006 ·, Res.# 05-01 05-02 05-03 05-04 05-05 05-06 05-07 05-08 05-09 05-10 05-11 05-12 05-13 05-14 05-15 05-16 05-17 05-18 05-19 05-20 05-21 05-22 05-23 05-24 05-25 05-26 05-27 05-28 05-29 05-30 05-31 05-32 RESOLUTIONS 2005 Description Increasing certain fees and charges for services provided by the Town of Firestone Intergovernmental Agreement for Emergency Management Designating the place for Posting of Notices Vogl -North Parcel Pteliminary Plat and Preliminary Development Plan approval Support the planning of the Colorado Front Range Trail known as the 52-85 Trails Project Mountain Shadows Filing 1 FOP amendment Colorado Surplus Asset Fund Trust (CSAFE) Homestead at Firestone Substantial Compliance for annexation No.s one through five and setting a public hearing Cottonwood Hollow Filing 1 FP and FOP Great Outdoors Colorado Grant (GOCO) for request for financial assistance for construction of Saint Vrain Ranch Park West IGA between Firestone, Frederick and Dacono creating a multi-agency SWAT Team Investment Policy statement of investment Policies and Procedures Heritage Bank designated as a Depository for funds and moneys for the Town of Firestone Homestead at Firestone petition of eligibility for annexation Homestead at Firestone Minor Subdivision Plat CIA Contract Mountain Shadows Filing I, FOP Amendment for Lots 18, Blk 4 Grease Monkey Amendment to Personnel Policies Establishing Building Permit Fees Grant between the town and the state board of the Great Outdoors Colorado Trust for Funding of St. Vrain Park West Checker Auto approval of FOP Encana Oil & Gas to locate oil & gas well Del Taco approval of FOP and FP Establishment of a Juvenile Assessment Center Amending 2004 Budget by increasing the revenues and appropriations Kerr McGee special use permit for oil & gas well Amending the 2005 Budget by transferring funds from the capital improvement fund to the street and highway fund U.S.Credit Alliance Credit Union PUD approving FOP for Lot 1-A Sable Glen Filings 1 and 2 approval of FOP and FP The Springs Metro District service plan American Furniture Warehouse foundation permit Date Adopted 1/6/2005 1/6/2005 1/13/2005 1/27/2005 2/10/2005 2/10/2005 2/10/2005 2/10/2005 2/24/2005 2/24/2005 2/24/2005 2/24/2005 3/10/2005 3/24/2005 3/24/2005 4/14/2005 4/28/2005 4/28/2005 4/28/2005 4/28/2005 7/14/2005 7/28/2005 8/11/2005 8/11/2005 11/25/2005 11/25/2005 9/22/2005 9/22/2005 10/13/2005 10/13/2005 10/13/2005 10/27/2005 Res.# 05-33 05-34 05-35 05-36 05-37 05-38 05-39 05-40 05-41 05-42 Description American Furniture Warehouse FP and FDP, Lot 1 Firestone Community Minor Subdivision Frederick-Firestone Fire Protection District Inclusion Supporting the proposed dissolution of the Tri-Area Ambulance District Agra-Holding, LP for an office building on Lot 3, Block 2 of Del Camino Junction B. Park Second Minor Plat (Agra-Holdings) Oak Meadow Village Final Subdivision Plats and an Overall Final Development Plan Adoption of the 2006 Budget, summarizing expenditures and revenues for each fund Appropriating sums of money to various funds and spending agencies Levying general property taxes for the 2005 tax year Date Adopted 10/27/2005 10/27/2005 10/27/2005 10/27/2005 11/10/2005 12/8/2005 12/8/2005 12/8/2005 12/8/2005 12/8/2005 2 Res.# 06-01 06-02 06-03 06-04 06-05 06-06 06-07 06-08 06-09 06-10 06-11 06-12 06-13 06-14 06-15 06-16 06-17 06-18 06-19 06-20 06-21 06-22 06-23 06-24 06-25 06-26 06-27 06-28 06-29 06-30 06-31 06-32 06-33 06-34 06-35 . 06-36 ' 06-37 06-38 06-39 RESOLUTIONS 2006 Description Designating Posting Place for Board of Trustee Notices Delegating the Town Clerk the Authority to Appoint Election Judges for All Elections GOCO Grant for Regional Sports Complex The Fire Station Car Wash FDP Approval Vogl Land-North Parcel, First Filing FP & FDP Approval Sale and Disposal of Real Property of Legacy Trail to Dacono and submitting the ballot question to the registered electors At-Grade Water Tank Construction and Staking Agmt. with TST Tank Supply 12" Water Line Construction Management & Staking agreement with TST Firestone Crossing PP and PDP Approval Revised Street Section for Firestone Design Criteria Manual Machi-Ross Petroleum Amending 2005 Budget by Increasing Revenues Engagement Letter with Watkins & Schommer for Audit Chase Bank FDP, Lot 7, Oak Meadows Village Vogl-South PP and PDP · ·Del Rey FDP for areas 1, 2, and 3 Firestone Crossing FP and overall FDP Cimarron Nursery and Garden Center FDP Central Park -Finding Substantial Compliance American Furniture Replat Noble Energy Special Use Permit Frederick-Firestone Fire Protection District Station No. 3 Saddleback Square FDP Revised Electric Permit Fees (on building permits) Central Park -Finding Area Eligible for Annexation American Furniture Amended Improvements Agreement Central Park PDP and FP Safeway Sale of Lots 2 and 3 St. Vrain State Park -No. 1 Finding Substantial Compliance St. Vrain State Park -No. 2 Finding Substantial Compliance St. Vrain State Park -No. 3 Finding Substantial Compliance National resident management system Frederick/Firestone Fire Station NOT USED IGA Calling Special Election in November 2006 Referring Tabor Ballot Issues to a Vote of the Registered Electors at a Special Municipal Election to be held on November 7, 2006 IGA between the Town of Firestone and the Weld Library District Approving a Special Use Permit for Kerr McGee Rocky Mtn. Corporation to locate an oil and gas well within Firestone Kugel Second Annexation Finding Substantial Compliance and Setting a public hearing thereon Date Adopted 1/12/2006 1/19/2006 2/23/2006 3/9/2006 3/9/2006 3/9/2006 3/9/2006 3/9/2006 3/23/2006 3/23/2006 4/27/2006 4/27/2006 4/27/2006 5/11/2006 5/11/2006 5/25/2006 5/25/2006 5/25/2006 6/8/2006 6/15/2006 6/15/2006 6/15/2006 6/15/2006 6/13/2006 7/27/2006 7/27/2006 8/3/2006 8/10/2006 8/17/2006 8/17/2006 8/17/2006 8/24/2006 8/24/2006 9/7/2006 9/7/2006 9/7/2006 9/28/2006 9/28/2006 Res.# 06-40 06-41 06-42 06-43 06-44 06-45 06-46 06-47 06-48 06-49 06-50 06-51 06-52 06-53 06-54 06-55 06-56 06-57 06-58 RESOLUTIONS 2006 . Description Date Adopted Firestone 7th Annexation Finding Substantial Compliance and 9/28/2006 Setting a public hearing thereon Cambria Crossing Annexation Finding Substantial Compliance and 9/28/2006 Setting a public hearing thereon Approving the 2006 Firestone, Colorado Master Plan 10/12/2006 Resolution concerning a Petition for the Annexation St. Vrain State 10/12/2006 Park Annexation No. 1 and Finding the area proposed to be annexed eligible for annexation Resolution concerning a Petition for the Annexation St. Vrain State 10/12/2006 Park Annexation No. 2 and Finding the area proposed to be annexed eligible for annexation Resolution concerning a Petition for the Annexation St. Vrain State 10/12/2006 Park Annexation No. 3 and Finding the area proposed to be annexed eligble for annexation The Springs South -Vogl South Metro District Service Plan 10/26/2006 Approving a Special Use Permit for Kerr McGee Rocky Mtn. 10/26/2006 Corporation to locate three oil and gas wells within Firestone Value Place Hotel Approval of Final Plat and Final Development 10/26/2006 Plan 2 RESOLUTION NO. os-.,23_ A RESOLUTION APPROVING A SPECIAL USE PERMIT FOR ENCANA OIL & GAS (USA), INC., TO LOCATE AN OIL AND GAS WELL WITHIN THE TOWN OF FIRESTONE WHEREAS, EnCana Oil & Gas (USA), Inc. (hereinafter "EnCana" or "Applicant") has submitted to the Board of Trustees of the Town of Firestone an application for a special use permit to locate within the Town an oil and gas well referred to as the proposed Sheley 4-6-4 Well, the proposed location of which is more particularly described in Exhibit A attached hereto; and WHEREAS, EnCana has submitted applications and supporting materials pursuant to Chapter 15.48 of the Firestone Municipal Code; and WHEREAS, all materials related to the requested special use permits have been reviewed by Town Staff and Firestone Planning and Zoning Commission and found with conditions to be in compliance with Town of Firestone subdivision, zoning, and oil & gas ordinances, Development Regulations, and related Town ordinances, regulations, and policies; and WHEREAS, pursuant to Chapter 17.32 of the Firestone Municipal Code, the Firestone Planning and Zoning Commission held a properly noticed public hearing on the proposed special use permits and has adopted its Resolution No. PC-05-10 forwarding to the Board of Trustees a recommendation of approval with conditions; and WHEREAS, the Board of Trustees has duly considered the proposed special use permit and has held a properly noticed public hearing on the application, at which hearing the applicant and other interested persons presented testimony to the Board and at which a number of documents were made a part of the record; and WHEREAS, the Board of Trustees finds that the proposed special use permit for the oil and gas well referred to as the proposed Sheley 4-6-4 Well should be approved subject to certain conditions. NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF TRUSTEES OF THE TOWN OF FIRESTONE, COLORADO: Sertioo 1 The Board of Trustees does hereby approve the special use permit request of EnCana Oil & Gas (USA), Inc. for location of the Sheley 4-6-4 Well within the Town of Firestone, in the location more particularly described in Exhibit A attached hereto, subject to the following conditions: I. The production facilities, as developed or modified, shall be of a low profile style, with a maximum height not to exceed twelve (12) feet. 2. The Town's special use approval shall expire on the date of expiration of the Oil and Gas Conservation Commission Permit to drill the well or one year from the date of Town approval, whichever is later, if operations for the well are not commenced by such date. In the event special use approval expires, the Applicant shall apply for a new special use permit pursuant to Chapter 15.48 of the Firestone Town Code. 3. Oil and gas operations shall be conducted in compliance with all federal, state, and local laws, rules and regulations, including but not limited to the Colorado Oil and Gas Conservation Commission permit for such well and the final special use permit application materials approved by the Town Board, which materials will be incorporated therein by reference. Applicant shall provide to the Town copies of all state approved permits, waivers, variances and subsequent notices filed with the state and affecting the well. 4. Prior to entering the site, Applicant shall obtain from the Town necessary building permits and notices to proceed. 5. Prior to moving the drilling rig onto the well site, Applicant shall obtain from the Town and Weld County necessary permits to move the drilling rig equipment within the Town and County. 6. Applicant shall provide to the Town copies of any executed surface damage agreements or memoranda thereof respecting operation of the well. 7. In the exercise of its rights pursuant to this special use approval, Applicant shall avoid any damage or interference with any Town installations, structures, utilities, or improvements. Applicant shall be responsible for all damages to such interests of the Town that are caused by the Applicant. 8. Applicant at its sole expense shall control fugitive dust at the well site and on access roads on an as-needed basis. Methods and chemicals used for dust control shall comply with Town ordinances and regulations. 9. The oil/gas well facilities shall utilize setbacks as specified in the Colorado Oil and Gas Conservation Commission Rules and Regulations or the Firestone Town Code, whichever is more restrictive. Complete evidence of any required waivers and variances shall be provided to the Town prior to the commencement of any work at the well site. 2 I 0. The well site and tank battery and separator areas shall be secured and screened by chain link fencing with "solid" tan aluminum or vinyl lathing. 11. Water sources for drilling activities shall be from the Town of Firestone, if a water tap is utilized. 12. Machinery at the site shall be well-oiled and well-maintained to mitigate noise. 13. To the extent reasonably possible, orient the drill rig and associated motors and exhaust systems such that they point away from existing residences in the vicinity. 14. Drill rigs shall, to the extent reasonably possible, be equipped with higher quality noise reducing mufflers. 15. During drilling, use a tarp around drilling floor and drawworks to muffle sound. 16. Deliveries and construction traffic to and from the site shall, whenever possible, be scheduled during daylight hours. 17. To the extent reasonably possible, keep the door to the drill rig engine closed. 18. Revise plans to conform to redline comments of the Town Engineer. 19. Add revision date(s) to all resubmitted plans. 20. The use of pump jacks shall be limited to those running on electric motors. 21. Applicant shall install temporary berms around the drilling area as necessary to assist in mitigating noise during drilling. 22. The drilling rig used for drilling operations shall be Model CAZA-54 or similar type. 23. Pursuant to Section 15.48.040.A.2 of the Firestone Municipal Code, provide a map showing the location of layout including, without limitation, the position of the drilling equipment and related facilities and structures. 24. Pursuant to Section 15.48.040.C.4 and 6 of the Firestone Municipal Code, provide evidence that the proposed emergency response plan and fire protection plan are acceptable to the appropriate frre district. 25. Amend the application to acknowledge all permits that are required. 26. Provide other information required by section 15.48 of the Town Code. 27. Add existing Encna flow lines to application materials. 28. Revise traffic route to show access from the east. INTRODUCED, READ, AND ADOPTED this J£!:_ day of J... Jc., s-J. , 2005. A g✓~~ 1He;;J own Clerk 08/1 l/'JJX)S ):43 PM {WI) F:\Company\F"~Sbdey4-6-4.TB.rcs.doc 4 ~-~COLORADO Michael P. Simone Mayor EXHIBIT A: Well Location The legal description for the Sheley 4-6-4 Well is the SE¼ SW¼ of Section 4, Township 2 North, Range 67 West, 6th P.M. RESOLUTION NO. OS__:-;;2'-/, A RESOLUTION APPROVING A FINAL SUBDIVISION PLAT AND FINAL DEVELOPMENT PLAN FOR DEL TACO. WHEREAS, there has been submitted to the Board of Trustees of the Town of Firestone a request for approval of a final subdivision plat and final development plan for Del Taco; and WHEREAS, all materials related to the proposed final subdivision plat and final development plan have been reviewed by Town Staff and Firestone Planning and Zoning Commission and found with conditions to be in compliance with Town of Firestone subdivision and zoning ordinances, Development Regulations, and related Town ordinances, regulations, and policies; and WHEREAS, the Firestone Planning and Zoning Commission has held a properly noticed public hearing on the proposed final subdivision plat and final development plan and has forwarded to the Board of Trustees a recommendation of approval with conditions; and WHEREAS, the Board of Trustees has duly considered the proposed final subdivision plat and final development plan and has held a properly noticed public hearing on the application; and WHEREAS, the Board of Trustees finds that the proposed final subdivision plat and final development plan for Del Taco should be approved subject to certain conditions. NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF TRUSTEES OF THE TOWN OF FIRESTONE, COLORADO: Section 1. The Board of Trustees hereby approves the proposed Final Subdivision Plat and Final Development Plan for Del Taco, subject to the conditions set forth on Exhibit A, attached hereto and incorporated herein by reference. ATTEST: ~"~~,., •• .P yHe d own Cler Michael P. Simone Mayor / 00 ~ 0 0\J\IN •••••• \ S'E~\... . . . . . . ··..... . ... -·· General EXHIBIT A Final Subdivision Plat and Final Development Plan Conditions of Approval Del Taco I. An updated title commitment must be provided before the final plat may be recorded. This title commitment must reflect an effective date no earlier than one month prior to the plat being offered for recording. 2. Provide an executed and recorded copy of the Reciprocal Easement and Use Agreement. This Agreement must be recorded before the final plat is recorded. Add the recording information for this Agreement to the final plat. Eioal Plat 3. Revise the Ownership and Dedication block in accordance with comments from the Town Attorney. 4. 5. 6. EDP 7. Revise the plat to provide for consent of any mortgage or other interest holders. Confirm the property has been included into the Frederick Firestone Fire Protection District. Execute a Subdivider's Agreement as prepared by the Town Attorney. Use cash-in- lieu approach to satisfy the public land dedication requirement. Revise the FOP text in the Private Maintenance and Enforcement and Control sections to read as follows: "Tite declaration of recip1ocal ease1nents and 1eshictions A Reciprocal Easement and J Jse Agreement has beeu apprnved between ;:xecnted lzy Wendy's and Del Taco, which Agreement shall govern the development and maintenance of said easement." 8. Provide an executed copy of the internal access easement referenced in the Circulation Systems section, if different from the Reciprocal Easement and Use Agreement. Otherwise, revise the FOP text to refer to the correct name of this document. 9. Revise the title of the Public Improvement & CBT Share section in the FOP text to read as follows: "PubliL hnprnvernent Improvements & CBT Watei Shaie Rlllll Water Dedication." I 0. Revise the text of the Public Improvements & Raw Water Dedication section to read as follows: " ... if at any time actual after .water use exceeds the estimated total ... 2 required to provide additional CBT shares within 30 days of notice to the Jot owner by the Town regauling the excess use and number of additional shares required ... Three CBT shares shall be transferred to the Town of Firestone prior to issuance of a b11ilding permit." 11. Specify the exact height of the Wendy's sign in the FOP text. 12. In the Signage Table confirm that there is only one pole sign with "2" sides. 13. On Sheet 6, further describe "Temporary Vehicle Tracking Control pad". 14. Note on the Trash Enclosure detail that the color and materials shall match the main building. I 5. Provide dimension of wall mounted signs on the elevations. 16. Add a note and detail that all parking lot lights shall be the same type, style and height as used at Wendy's. 17. Add a note that the Del Taco pole sign shall be oriented parallel to Firestone Boulevard, to face the same direction as the pole signs for Wendy's and Phillips 66. 18. Provide a detail of the chain link fence across lot 2-A. 19. Add two no trespassing signs facing east on Lot 2-A. Additional Conditions 20. Adjust the height of the pole sign to 45 feet. 21. Cooperate with Phillips 66 to incorporate pavement striping to direct traffic into and through the site, as determined appropriate by the Town Engineer. 22. If Lot 2-A is not developed within three years, the applicant shall submit a landscape plan for Lot 2-A to be approved by the Town Planner and completed if Lot 2-A is still undeveloped five years after the date of this Resolution. 08/1 lrJ.OOS 4:02 PM [kkh] F:\Company\F"U"CSIODC\&ibdivisiont.Dc!TaroFDPfinalP!at.TB.res.doc RESOLUTION NO. Q5..:__.;i_ S A RESOLUTION OF SUPPORT FOR THE ESTABLISHMENT OF A JUVENILE ASSESSMENT CENTER TO SERVE WELD COUNTY WHEREAS, public safety in the form of law enforcement is among the most primary and essential services offered by government agencies in service to its public; and, WHEREAS, it is incumbent upon governments to provide public safety services in an effective, cost conscious and thoughtful manner as possible; and, WHEREAS, such services are generally most effective when collaborative endeavors are undertaken by government entities and civic, non-profit and faith-based organizations sharing a common purpose; and WHEREAS, crime prevention 1s an essential component element of effective law enforcementactions;and WHEREAS, diverting youth from criminal behaviors is a critical element of both law enforcement and developing a society with useful and productive citizens; and, WHEREAS, it has been demonstrated that the utilization of a 'Juvenile assessment center" is an effective manner in which to minimize the consumption of law enforcement resources to address delinquent behaviors among youth while maximizing the opportunity to divert youth from potential criminal behavior by providing assessment and comprehensive community resources to them and their families at a key juncture. NOW THEREFORE, BE IT RESOLVED BY THE BOARD OF TRUSTEES OF THE TOWN OF FIRESTONE, COLORADO THAT THE ESTABLISHMENT OF A JUVENILE ASSESSMENT CENTER BE SUPPORTED AS AN EFFECTIVE AND IMPORTANT ELEMENT OF PUBLIC SAFETY AND WELFARE IN WELD COUNTY, COLORADO, AND AN EXPRESSION OF OUR DESIRE TO JOIN WITH OTHER ENTITIES TO UPHOLD THE TENETS OF JUSTICE, INVOLVE THE COMMUNJTY AND VICTIMS OF CRIME AND REPAIR THE HARM DONE BY SUCH CRIMES. INTRODUCED, READ, and ADOPTED thisJ5'°"' day of -Aur;us.-f ,.J , 2005. ~:;~Q dyH~od Town Clerk ,····~owtt··· ... . \ ··-....... . ....... ~~NE,COLORADO Michael P. Simone Mayor RESOLUTION NO. os-:2.b A RESOLUTION AMENDING THE 2004 BUDGET BY INCREASING THE REVENUES AND APPROPRIATIONS IN THE GENERAL, STREET AND HIGHWAY, DEBT SERVICE AND WATER FUNDS; BY CREATING A SEPARATE PENSION TRUST FUND; AND BY TRANSFERRING REVENUES TO AND MAKING AN APPROPRIATION WITHIN SUCH PENSION TRUST FUND WHEREAS, the Board of Trustees of the Town of Firestone on December 11, 2003 adopted a budget for tbe 2004 calendar year, pursuant to and in accordance with the Local Government Budget Law; and WHEREAS, by Resolution No. 04-56, the Board of Trustees on December 9, 2004 adopted an amended 2004 budget; and WHEREAS, due to a switch in accounting software, certain revisions in the amended 2004 budget were not included in the Town's general ledger system used to prepare final 2004 financial statement for audit; and WHEREAS, the Town's auditor has also recommended certain revisions to the 2004 budget, as previously amended, in order to comply with certain GASB accounting requirements; and WHEREAS, based on the foregoing, a need exists to appropriate additional sums of money in the General, Street and Highway, Debt Service and Water Funds; to create a separate Pension Trust Fund, and to transfer revenues to and make an appropriation within such Pension Trust Fund; and WHEREAS, the Board of Trustees has published notice of and held a hearing upon the supplemental appropriations, amendment and transfer authorized by this Resolution. WHEREAS, the amended 2004 budget, as revised by this Resolution, remains in balance as required by law. NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF TRUSTEES OF THE TOWN OF FIRESTONE, COLORADO: Section 1. That the 2004 General Fund appropnat10n is hereby increased from $2,995,884 to $3,095,884, such supplemental appropriation being for building inspection expenses which are in excess of budgeted amounts due to increased commercial building activity. Section 2. That 2004 revenues and appropriations in the Street and Highway Fund are each hereby increased by $1,000,000, such amounts corresponding to developer contributions or public improvements that have received final acceptance, and such amounts being shown pursuant to GASB requirements. I Section 3. That 2004 revenues and appropriations in the Water Fund are each hereby increased by $ I ,000,000, such amounts corresponding to developer contributions or public improvements that have received final acceptance, and such amounts being shown pursuant to GASB requirements. Section 4. That within the 2004 budget a special fund is hereby created, entitled the Pension Trust Fund, for the purposes of funding the Town's "old-hire" FPPA pension obligations for 2004. Section 5. That for 2004 there is hereby transferred from the General Fund to the Pension Trust Fund the amount of$15,500, and that of such $15,500 of revenues, there is hereby appropriated to such Pension Trust Fund for 2004 expenditures the amount of$i5,500. INTRODUCED, READ AND ADOPTED this cl5....µ,. day of ./Jws + 2005 . .... •·T··~,N1•t·• .... . \ SEAL ··.... . . ....... &"~ ~ yHe;d own Clerk: Michael Simone Mayor 2 RESOLUTION NO. 05-27 SERIES 2005 A RESOLUTION APPROVING A SPECIAL USE PERMIT FOR KERR-McGEE ROCKY MOUNTAIN CORPORATION TO LOCATE AN OIL AND GAS WELL WITHIN THE TOWN OF FIRESTONE. WHEREAS, Kerr-McGee Rocky Mountain Corporation (hereinafter "Kerr-McGee" or "Applicant") has submitted to the Board of Trustees of the Town of Firestone an application for a special use permit to locate within the Town an oil and gas well referred to as the Spectrum 13-19 well;and WHEREAS, Kerr-McGee has submitted the application and supporting materials pursuant to Chapter 15.48 of the Firestone Municipal Code; and WHEREAS, all materials related to the proposed special use have been reviewed by Town Staff and found with conditions to be in compliance with Town of Firestone subdivision, zoning, and oil & gas ordinances, Development Regulations, and related Town ordinances, regulations, and policies; and WHEREAS, the Firestone Planning and Zoning Commission on September 21, 2005 held a properly noticed public hearing on the proposed special use permit application, and has forwarded to the Board of Trustees a recommendation of approval with conditions; and WHEREAS, after a duly-noticed public hearing, at which evidence and testimony were entered into the record, the Board of Trustees finds the special use request for the Spectrum 13-19 well should be approved subject to certain conditions. NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF TRUSTEES OF THE TOWN OF FIRESTONE, COLORADO: Section J. The Board of Trustees hereby approves the special use permit request of Kerr- McGee Rocky Mountain Corporation for location of the Spectrum 13-19 well within the Town of Firestone, in the location more particularly described in Exhibit A attached hereto, subject to the following conditions: I. The production facilities, as developed or modified, shall be of a low profile style, with a maximum height not to exceed twelve (12) feet. 2. The Town's special use approval shall expire on the date of expiration of the Oil and Gas Conservation Commission Permit to drill the well or one year from the date of Town approval, whichever is later, if operations for the well are not commenced by such date. In the event special use approval expires, the Applicant shall apply for a new special use permit pursuant to Chapter 15.48 of the Firestone Town Code. 3. Oil and gas operations shall be conducted in compliance with all federal, state, and local laws, rules and regulations, including but not limited to the Colorado Oil and Gas Conservation Commission permit for such well and the final special use permit application materials approved by the Town Board, which materials will be incorporated therein by reference. Applicant shall provide to the Town copies of all state approved permits, waivers, variances and subsequent notices filed with the state and affecting the well. 4. Prior to entering the site, Applicant shall obtain from the Town necessary building permits and notices to proceed. 5. Prior to moving the drilling rig onto the well site, Applicant shall obtain from the Town and Weld County necessary permits to move the drilling rig equipment within the Town and County. 6. Applicant shall provide to the Town copies of any executed surface damage agreements or memoranda thereof respecting operation of the well. 7. In the exercise of its rights pursuant to this special use approval, Applicant shall avoid any damage or interference with any Town installations, structures, utilities, or improvements. Applicant shall be responsible for all damages to such interests of the Town that are caused by the Applicant. 8. Applicant at its sole expense shall control fugitive dust at the well site and on access roads on an as-needed basis. Methods and chemicals used for dust control shall comply with Town ordinances and regulations. 9. The oil/gas well facilities shall utilize setbacks as specified in the Colorado Oil and Gas Conservation Commission Rules and Regulations or the Firestone Town Code, whichever is more restrictive. Complete evidence of any required waivers and variances shall be provided to the Town prior to the commencement of any work at the well site. I 0. The well site and tank battery and separator areas shall be secured and screened by chain link fencing with "solid" tan aluminum or vinyl lathing. I I. Water sources for drilling activities shall be from the Town of Firestone, if a water tap is utilized. 12. Machinery at the site shall be well-oiled and well-maintained to mitigate noise. 2 13. To the extent reasonably possible, orient the drill rig and associated motors and exhaust systems such that they point away from existing residences in the vicinity. 14. Drill rigs shall, to the extent reasonably possible, be equipped with higher quality noise reducing muftlers. 15. During drilling, use a tarp around drilling floor and drawworks to muftle sound. 16. Deliveries and construction traffic to and from the site shall, whenever possible, be scheduled during daylight hours. 17. To the extent reasonably possible, keep the door to the drill rig engine closed. 18. Revise plans to conform to redline comments of the Town Engineer. 19. Add revision date(s) to all resubmitted plans. 20. The use of pump jacks shall be limited to those running on electric motors. 21. Applicant shall install temporary berms around the drilling area to the east and southeast to assist in mitigating noise during drilling. 22. The drilling rig used for drilling operations shall be Model CAZA-54 or similar type. 23. Amend the application to acknowledge all permits that are required. 24. Provide other information as required by section 15.48 of the Town Code. 25. Coordinate access for drilling activities with the Town Engineer to protect existing infrastructure. PASSED AND ADOPTED this 22nd day of September, 2005. L~ Dennis Bertr~n, Mayor Pro-tern ATTEST: EXHIBIT A: Well Location The legal description for the Spectrum 13-19 well is the SW¼ of the SW¼ of Section 19, Township 2 North, Range 67 West, 6th P.M . • 09122/200S I 0:44 AM (l.kh) F:\Company\f'lfCStone\Subdivisions\KenMcGec.SpcctrumlJ• l9.Board.rcs.doc 4 RESOLUTION NO. 05-28 A RESOLUTION AMENDING THE 2005 BUDGET BY TRANFERING CERTAIN FUNDS FROM THE CAPITAL IMPROVEMENT FUND TO THE STREET AND HIGHWAY FUND WHEREAS, by Resolution No. 04-57, the Board of Trustees of the Town of Firestone on December 9, 2004 adopted a budget for the 2005 calendar year, pursuant to and in accordance with the Local Government Budget Law; and WHEREAS, by Resolution No. 04-58, the Board of Trustees on December 9, 2004 appropriated sums of money to the various funds and spending agencies, in the amounts and for the purposes set forth in such Resolution, for the 2005 budget; and WHEREAS, because an anticipated transfer of funds under the 2004 budget did not occur prior to December 31, 2004, it is necessary to amend the 2005 budget to authorize a transfer of certain funds from the Capital Improvement Fund to the Street and Highway Fund; and WHEREAS, the Board of Trustees has published notice of and held a hearing upon the transfer of funds authorized by this Resolution; and WHEREAS, the 2005 budget, as amended by this Resolution, remains in balance as required by law. NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF TRUSTEES OF THE TOWN OF FIRESTONE, COLORADO: Section 1. That for 2005 there is hereby transferred from the Capital Improvement Fund to the Street and Highway Fund the amount of$700,000. Attest: INTRODUCED, READ AND ADOPTED this 22nd day of September, 2005. TOWN OF FIRESTONE, COLORADO Dennis Bertron, Mayor pro-tern ...-··~~'JII~ ······ ... _ .. s£-p,.\J ···•.... . ....... RESOLUTION NO. 0 5 ~ ..;2,9 A RESOLUTION APPROVING A FINAL DEVELOPMENT PLAN AMENDMENT FOR LOT 1-A, U.S. ALLIANCE CREDIT UNION PUD WHEREAS, there has been submitted to the Board of Trustees of the Town of Firestone a request for approval of a final development plan amendment for Lot 1-A, U.S. Alliance Credit Union PUD to specify signage; and WHEREAS, all materials related to the application have been reviewed by Town Staff and Firestone Planning and Zoning Commission and found with conditions to be in compliance with Town of Firestone subdivision and zoning ordinances, Development Regulations, and related Town ordinances, regulations, and policies; and WHEREAS, the Firestone Planning and Zoning Cnrmnissinn held a properly noticed' public hearing on the proposed final development plan amendment and has forwanled to the Board of Trustees a recommendation of approval, with conditions; and WHEREAS, the Board of Trustees has duly considered the-proposed final] develbpment plan amendment and has held a properly noticed public hearing on the application; and WHEREAS, the Board of Trustees finds that the proposed final development plan amendment for U.S. Alliance Credit Union should be approved subject to certain conditions. NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF TRUSIEES OF TIIE TOWN OF FIRESTONE, COLORAOO: Semon J The Board of Trustees hereby approves the proposed final development plan amendment for Lot 1-A, U.S. Alliance Credit Union PUD, subject to the conditions set forth on Exhibit A, attached hereto and incorporated herein by reference. ~ PASSED AND ADOl'IBD u,;, J3':""' o~~S ;r ( ~--e..-7----, ,-~VJN ·····•.. MichillP.sirncme Mayor £.JXL EXHIBIT A Final Development Plan Amendment Block 1-A, U.S. Alliance Credit Union PUD Conditions of Approval I. Add the following language to the amended FOP: "Pole signs shall be limited to those shown on this amended FOP. Electronic reader boards shall display only time, temperature, and advertisements directly related to the products and services offered by U.S. Alliance Credit Union." I 0/l lflOOS 3:23 PMJ:!jl) ~-:\Company.F~US AllianccCU.FOP Amcnd.TB,n::,.doc 2 RESOLUTION NO. 05 ~ 3 0 A RESOLUTION APPROVING FINAL DEVELOPMENT PLANS AND FINAL PLATS FOR SABLE GLEN FILINGS I AND 2 WHEREAS, there has been submitted to the Board of Trustees of the Town of Firestone a request for approval of final plats and final development plans for Sable Glen Filings I and 2; and WHEREAS, all materials related to the application have been reviewed by Town Staff and Firestone Planning and Zoning Commission and found with conditions to be in compliance with Town of Firestone subdivision and zoning ordinances, Development Regulations, and related Town ordinances, regulations, and policies; and WHEREAS, the Firestone Planning and Zoning Commission held a properly noticed public hearing on the proposed final plats and final development plans and has forwarded to the Board of Trustees a recommendation of approval, with conditions; and WHEREAS, the Board of Trustees has duly considered the proposed final plats and final development plans and has held a properly noticed public hearing on the application; and WHEREAS, the Board of Trustees finds that the proposed final plats and final development plans for Sable Glen Filings I and 2 should be approved subject to certain conditions. NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF TRUSTEES OF THE TOWN OF FIRESTONE, COLORADO: Section J The Board of Trustees hereby approves the proposed Final Plats and Final Development Plans Sable Glen Filings I and 2, subject to the conditions set forth on Exhibit A, attached hereto and incorporated herein by reference. PASSED AND ADOPTED this /3-4-1-iday of Qef:vb_tr ... . ... ... ···;o\Nl'l ···• ... . . ~t'L ...... ..·• .. .. Michael P. Sim ne Mayor EXHIBIT A Final Plats and Final Development Plans Conditions of Approval Sable Glen Filings 1 and 2 I. Modify the street names for the cul-de-sacs pursuant to redline comments from the Town Engineer and Planner. 2. Fix typographical errors in all documents. 3. Execute a Subdivision Agreement prepared the Town Attorney. 4. Provide HOA formation documents and proposed covenants for Town review prior to recording FDPs and Final Plats. 5. Provide a maintenance program with an establishment guarantee for the native seed areas (height for mowing, weed maintenance, etc.). 6. Modify plat and FDP documents and FDP text consistent with comments from Town Engineer and Town Attorney and consistent with 10/13/05 redlines from Town Planner. 7. All technical studies and utility plans shall be acceptable by the Town Engineer. 8. In any reference to oil and gas easements, identify these easements as created by separate instrument. FOP -Filing 1 Sheet IQ 9. Provide additional landscaping along the Events Center sign, Charles Street, and the eastern fence line. Sheet 12 10. Show lot 47 on the plan sheet. FOP -Filing 2 11. Make all pertinent revisions in accordance with conditions for Filing I. Additional Conditions I 2. Add a note to the FOP that the internal parking area in Lot 4 7 shall be paved with andosite within 3 years following completion of Charles Street. 2 13. Modify Filing I FDP text to assure owner of Lot 47 shall maintain the unpaved parking lot for dust and weed control until such lot is paved. 14. Clarify in FDP text the use of parking and other directional signage. 15. Revise FDP to specify the split rail fencing along the open space areas shall be installed by the Developer or builder at the time of development of each lot; the fence shall be completed for each lot prior to the issuance of the certificate of occupancy for each such lot. 16. Ad~ a note to the FDP that neighboring property owner shall be notified prior to installing the fence adjacent to the existing fence. 17. Add to the FDP installation specifications and a maintenance plan for installation and management of the parking lot in Lot 4 7. TOWN OF FIRESTONE, COUNTY OF WELD, STATE OF COLORADO IN RE THE ORGANIZATION OF THE SPRINGS METRO POLIT AN DISTRICT IN THE TOWN OF FIRESTONE, COUNTY OF WELD, STATE OF COLORADO RESOLUTION NO. 05-3 I RESOLUTION OF APPROVAL WHEREAS, pursuant to the provisions of Title 32, Article I, Part 2, C.R.S. as amended, the Board of Trustees of the Town of Firestone, County of Weld, State of Colorado, following due notice, held a public hearing on the proposed Service Plan for The Springs Metropolitan District, which hearing was held on October 13, 2005; and WHEREAS, the Board of Trustees has considered the 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 Service Plan for The Springs Metropolitan District, should be approved by the Board of Trustees, subject to certain conditions set forth below, in accordance with Section 32-1- 204.5(1 )(c), C.R.S. THEREFORE, BE IT RESOLVED BY THE BOARD OF TRUSTEES OF THE TOWN OF FIRESTONE, COLORADO: Section I. 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 Prominence Partners I, LLC, a Colorado limited liability company (the "Developer"), that all of the requirements of Title 32, Article I, Part 2, C.R.S., as amended, relating to the filing of the proposed Service Plan for The Springs 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 Developer, the Board of Trustees of the Town of Firestone, Colorado, has jurisdiction over the subject matter of this proposed special district pursuant to Title 32, Article 1, part 2, C.R.S., as amended. Section 3. That, pursuant to Section 32-1-204.5, 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 and other evidence presented by and on behalf of the Developer, that: (a) There is sufficient existing and projected need for organized service in the areas to be serviced by the proposed District; (b) The existing service in the area to be served by the proposed District is inadequate for present and projected needs; ( c) The proposed special district is capable of providing economical and sufficient service to the area within its proposed boundaries; ( d) The area to be included in the proposed District has, or will have, the financial ability to discharge the proposed indebtedness on a reasonable basis; and ( e) The creation of the proposed District will be in the best interests of the area proposed to be served. Section 4. That pursuant to Section 32-1-204.S(l)(c), C.R.S., the Board of Trustees hereby imposes the following conditions upon its approval of the Service Plan: (a) The Developer agrees that the Town Attorney will be given reasonable notice of all proceedings in the District Court of Weld County relating to the organization of the District (including notice as described in Section 32-1-304, C.R.S.). (b) The Developer agrees that, prior to the hearing date set by the District Court of Weld County pursuant to Section 32-1-304, C.R.S., all fees and expenses which have been submitted to the Developer for payment by or on behalf of the Town or its attorneys or financial or other advisors shall have been paid in full. (c) Prior to the hearing date set by the District Court of Weld County pursuant to Section 32-1-304, C.R.S., the District shall fully comply with the provisions of Section 32-1-107(3), C.R.S. with respect to the overlapping of service areas. The District's authorization to provide services or facilities within any overlapping area is expressly conditioned upon the District first obtaining the written consent of each and every district whose service area is so overlapped. (d) Prior to the hearing date set by the District Court of Weld County pursuant to Section 32-1-304, C.R.S., the fully and properly executed originals of the following documents will be submitted for the proposed District: the engineering estimates and certificate of probable costs; accountant's letters and forecasts; letter in support of market projections and absorption rates; underwriter's letter; legal counsel letter; bond counsel letter, and Developer's indemnity letter that are required under the Service Plan and set forth in Exhibits E, G, H, I, J, and K part I, to the Servi~ Plan, shall be provided to the Town. ( e) At its organizational meeting, the District shall execute its District indemnity letter, and the intergovernmental agreement with the Town ("IGA'') that are required under the Service Plan and set forth in Exhibits K part II, and N to the Service Plan, and shall provide the fully executed originals of the District indemnity letters and the !GA, to the Town. If any of the above-stated conditions (a) through (d) are not met, the Town may file a motion with the District Court of Weld County requesting that the hearing on the organization of the District be delayed until such conditions are met, and Developer has represented that it will not oppose such motion. Further, if any of the above-stated conditions (a) through (e) are not met, the Town may pursue all legal and equitable remedies available to it for failure of compliance with such conditions of approval. Section 5. That the Service Plan of The Springs Metropolitan District, as set forth in Exhibit A to this Resolution (with text dated October 7, 2005 and exhibits as submitted April 14, 2005), is hereby approved subject to the conditions stated in Section 4 above, in accordance with Section 32°1-204.5(l)(c), C.R.S., and subject to the revisions set forth in Exhibit B. Section 6. That a certified copy of this Resolution be filed in the records of the Town of Firestone and submitted to the Developer for the purpose of filing in the District Court of Weld County for further proceedings concerning The Springs Metropolitan District. :-14, RESOLVED, ADOPTED AND APPROVED this~ day of October, 2005. (SEAL) ... •·· "•• ... •••• "TOWN \ : ·-. , sf.i\L . ATTEST: \.... . .. / J.~ dyH ood own erk 'J..l-~, COLORADO ~P.Simone Mayor RESOLUTION NO. 05-32 A RESOLUTION AMENDING THE FIRESTONE DEVELOPMENT REGULATIONS TO ALLOW FOR ISSUANCE OF FOUNDATION PERMITS AND AUTHORIZING A FOUNDATION PERMIT FOR AMERICAN FURNITURE WAREHOUSE WHEREAS, Section I 06.3.3 of the 2003 International Building Code ("!BC") as adopted by the Town authorizes the building official to issue a permit for the construction of foundations or any other part of a building or structure before the construction documents for the whole building or structure have been submitted, provided adequate information has been provided to demonstrate compliance with the pertinent requirements of the !BC; and WHEREAS, Section 19.1 of the Firestone Development Regulations prohibits any building permit to be issued until a final plat and final development plan have been approved by the Town Board, signed by the Mayor, and recorded in the real property records with the Weld County Clerk and Recorder; and WHEREAS, the Town Board recognizes that for certain applications the public interest is best served by the highest level of expediency possible consistent with the health and safety regulations of the Town; and WHEREAS, the Town Board desires to amend the Firestone Development Regulations to provide for an expedited building permit and construction process in limited situations and under the parameters set forth herein; and WHEREAS, there has been submitted to the Town of Firestone a request for a foundation permit for the American Furniture Warehouse building to be located on Lot 2 of the Crossroads P.U.D.; and WHEREAS, Town staff has reviewed the request and accompanying information, and has recommended that the Town Board authorize issuance of the requested permit upon compliance with pertinent provisions of the !BC and other regulations of the Town. NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF TRUSTEES OF THE TOWN OF FIRESTONE, COLORADO: Section ) . Section 19. I of the Firestone Development Regulations is hereby amended to read as follows (words to be added arr. nodedioed; words to be deleted are shicken tlnongh). 19.1 Building Permit Except as otherwise provided herein, Nn nn building permit shall be issued on land within Firestone until a FOP and Final Plat as applicable for the development or for any phase, lot, or tract of that development have been approved by the Town Board of Trustees and signed by the Mayor and recorded in the office of the Weld County clerk and recorder. The Town Board may by resolution anthocize issuance of a foundation permit for commercial retail projects in excess of 100,000 square feet gross floor area pcior ta approval and recar<liog af the EDP and Eioa! Plat Any such autbarizatiao sbal! expire if the peonit is oat issued within thirty (30) days nftbe date afiawo Board authorization All work commenced pursuant to such permit shall proceed at the permit holder's own risk with the building operation and without assurance that a peonit for the entire stmc1J1re will be granted ar any EDP ar Eioa! Plat approved Section 2. A foundation permit for the American Furniture Warehouse building to be located on Lot 2 of the Crossroads P.U.D. is hereby authorized. Such permit shall reference the limitations as set forth herein and in Section 19 .I of the Firestone Development Regulations, as amended by this resolution, and shall be signed by the applicant acknowledging that all work commenced pursuant to such permit shall be at the permit holder's risk. Section 3. The repeal or modification of any portion of the Firestone Development Regulations by this resolution shall not release, extinguish, alter, modify, or change in whole or in part any penalty, forfeiture, or liability, either civil or criminal, which shall have been incurred under such provision, and each provision shall be treated and held as still remaining in force for the purpose of sustaining any and all proper actions, suits, proceedings, and prosecutions for the enforcement of the penalty, forfeiture or liability, as well as for the purpose of sustaining any judgment, decree or order which can or may be rendered, entered, or made in such actions, suits, proceedings, or prosecutions. Section 4 If any portion of the Firestone Development Regulations as amended by this Resolution is held to be invalid for any reason, such decision shall not affect the validity of the remaining portions of such Regulations or this resolution. The Town Board hereby declares that it would have approved and adopted such Regulations and each part thereof irrespective of the fact that any one part be declared invalid. INTRODUCED, READ, and ADOPTED this 13.tb day of October, ?.005. ··~owN····· .... •. SEAL } . .. . ..•· ~~ TOWN OF 'C~ COLORADO ~,,~ < ~ Michael P. Simone Mayor 10/IJflOOS 2:30 PM (kkh) F:\Company\Fircstone\Resolution\Developmmt Regula!ions (foundation penniu).doc 2 RESOLUTION NO. os--33 A RESOLUTION APPROVING A FINAL PLAT FOR THE AMERICAN FURNJTURE WAREHOUSE SUBDIVISION AND A FINAL DEVELOPMENT PLAN FOR AN AMERICAN FURNJTURE WAREHOUSE RETAIL BUILDING ON LOT I OF THE SUBDIVISION WHEREAS, there has been submitted to the Board of Trustees of the Town of Firestone a request for approval of a final plat for the American Furniture Warehouse Subdivision and a final development plan for an American Furniture Warehouse retail building to be located on Lot I of the Subdivision; and WHEREAS, all materials related to the proposed final plat and final development plan have been reviewed by Town Staff and the Firestone Planning and Zoning Commission and found with conditions to be in compliance with Town of Firestone subdivision and zoning ordinances, Development Regulations, and related Town ordinances, regulations, and policies; and WHEREAS, the Firestone Planning and Zoning Commission has held a properly noticed public hearing on the application, and has forwarded to the Board of Trustees a recommendation of approval, with conditions; and WHEREAS, the Board of Trustees has duly considered the proposed final plat and final development plan and has held a properly noticed public hearing on the application; and WHEREAS, the Board of Trustees finds that the proposed final plat and final development plan should be approved subject to certain conditions. NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF TRUSTEES OF THE TOWN OF FIRESTONE, COLORADO: Section ] The Board of Trustees of the Town of Firestone does hereby approve the proposed final plat for the American Furniture Warehouse Subdivision and the proposed final development plan for the American Furniture Warehouse retail building to be located on Lot I of the Subdivision, subject to the conditions set forth on Exhibit A attached hereto and incorporated herein by reference. INTRODUCED, READ AND ADOPTED thisJ7'-fhday of() dt,~r , 2005. TOWN OF FIRESTONE, COLORADO ~- Michael P. Simone Mayor ATTEST: 2 General EXHIBIT A American Furniture Warehouse Subdivision American Furniture Warehouse FOP (Lot 1) Conditions of Approval I. Execute a Subdivision Agreement as prepared by the Town Attorney. 2. Modify the applications consistent with redline comments from the Town Engineer and Town Planner. 3. Add a Firestone Information Block to all map sheets. 4. Fix typos throughout the documents. Minor Subdivision Plat 5. Revise plat to replat all of Lot 2 of the Eagle Crest Subdivision. The lot to the north of Lot I (site of the AFW FOP) and west of Jake Jabs Boulevard should be Lot 2; the lot east of Jake Jabs Boulevard should be Lot 3. 6. Revise the legal description in the Ownership and Dedication block to include all of Lot 2 of the Eagle Crest Subdivision. 7. Revise the title block to read as follows: AMERICAN FURNITURE WAREHOUSE SUBDIVISION A REPLA T OF A PORTION OF LOT 2, EAGLE CREST SUBDIVISION LOCATED IN THE NORTHWEST QUARTER OF SECTION 11, TOWNSHIP 2 NORTH, RANGE 68 WEST OF THE PRINCIPAL MERIDIAN, TOWN OF FIRESTONE, COUNTY OF WELD, STA TE OF COLORADO AREA 51.577 ACRES, MORE OR LESS SHEET OF 8. · Revise the text of the Ownership and Dedication block to reflect singular ownership: "Have Has laid out ... and by these presents do does hereby dedicate.· ... " 9. Place the right-of-way for Jake Jabs Boulevard in a tract. In addition to the dedication on the plat, the tract shall be conveyed to the Town by Special Warranty Deed. I 0. Label the oil/gas well shown on the plat with the name of the well and the operator. 11. The existing sanitary sewer in the southern end of the site is not shown in an easement. Add reference to recording information if there is an existing easement for the sewer. If there is no existing easement, dedicate an easement for this facility with this plat, with dimensions and related plat revisions as acceptable to the Town Engineer. 12. Realignment of the water line in and near the WYCO gas easement will require revision to the water line easement. FOP 13. Remove the Jake Jabs Boulevard area from the FOP area calculations. 14. Revise the legal description and the title block for the FOP to refer to the platted legal description: "Lot I, American Furniture Warehouse Subdivision, a replat of Lot 2, Eagle Crest Subdivision, Town of Firestone, County of Weld, State of Colorado." 15. Revise FOP text throughout to refer to the American Furniture Warehouse Subdivision and the lots created by the Subdivision. I 6. Delete duplicate "Circulation Systems" paragraph in FOP text. 17. Revise references to Eagle Crest Subdivision throughout to refer to the correct name of the recorded document. 18. Remove "Not for Construction" from all sheets of the FOP . . 19. Revise the Approval block as follows: APPRQVATS· Approved by the Town Board of Trustees of the Town of Firestone, Colorado, this ____ day of _______ _, 2005 by Resolution No. ____ _ Mayor Attest: Town Clerk 20. Revise the notary acknowledgement so that "Witness my hand and official seal" does not appear under the name of the owner, but rather as a new line before the notary signature and seal. 21. In the text, describe the future treatment of the Phase I drainage channels to assure the maximum development potential of the Phase 2 site. Adjust drainage channels as may be necessary to assure the maximum development of the Phase 2 area. 22. In the Parking section, clarify the references to Tracts A and B with revisions acceptable to the Town Planner. 4 23. In the Sign Program section, revise the "set required" references to be a statement of the maximum number of permitted signs for each of the listed sign types ( e.g., I permitted monument sign, etc.). 24. In the Sign Program section, note that Monument Sign I is double sided. 25. Modify the Sign Program section as necessary to assure that the total sign area described at the end of Pole Sign and Building Sign sections are consistent with the itemized signs noted in the text above the totals. 26. Modify the Sign Program section to provide for temporary construction and marketing signage and permanent marketing signage. Provisions for such signage shall be subject review and approval by the Town Planner. 27. In the Sign Program text, reference the necessary directional and traffic control signage. 28. In the Sign Program text, note the Phase 2 store names on the pole mounted sign as examples. 29. Note the location of the construction related trailers and state they will be removed from the subdivision within 30 days after issuance of a Certificate of Occupancy for the American Furniture Warehouse building. Also, provide detail of the temporary security fencing for this area. 30. Update the Development Schedule section. The Development Schedule and any related phasing plan shall be acceptable to the Town Engineer and set forth in the Subdivision Agreement. 31. The Final Drainage Report should be referenced for the FDP. 32. A lane width of 25' from the south access to the building is proposed. The Frederick- Firestone Fire Protection District requires 26' minimum. This lane shall be increased from 25' to 26' or applicant shall provide written confirmation from the District that the proposed 25' width is acceptable to the District, if this lane will be part of an emergency vehicle access route. 33. Revise notes for Native Grass areas to include specifications for reseeding and repair of areas that do not acceptably establish, and to include a weed control program. The revised notes shall be subject to review and approval by the Town Planner. 34. Identify light pole locations on FDP. Lights shall be of a downcast type and shall not project onto adjacent residential units. 35. Show the location for the flag on the FDP. 36. Reduce scale for construction, drainage and grading sheets to reduce the number of pages in theFDP. 5 37. Identify any exterior trash enclosures and add statement that the materials and colors will match those used for the main building.· Additional Conditions 38. Add additional stub outs to irrigation system for potential future expansion, in locations determined by Town Engineer. 39. Materials and colors shall be limited to those on boards provided for Town Board hearing. 40. Include "Firestone" in the pole sign. 41. If acceptable to oil/gas operator, add additional landscaping within the oil and gas well setback on the north side of the building. 42. Add a stop line at the exit points from the site onto the frontage road and Jake Jabs Boulevard. 1006'200S 11:34 AM!sjl] F:\Company\Fll'CSlO!le\5ubdivisiOM!AFW.FDP.PC.~doc 6 RESOLUTIONNO. Q5-3~ A RESOLUTION APPROVING A FINAL PLAT FOR THE FIRESTONE COMMUNITY MINOR SUBDIVISION WHEREAS, there has been submitted to the Board of Trustees of the Town of Firestone a request for approval of a final plat for the Firestone Community Minor Subdivision; and WHEREAS, all materials related to the proposed final plat have been reviewed by Town Staff and the Firestone Planning and Zoning Commission and found with conditions to be in compliance with Town of Firestone subdivision and zoning ordinances, Development Regulations, and related Town ordinances, regulations, and policies; and WHEREAS, the Firestone Planning and Zoning Commission has held a properly noticed public hearing on the proposed final plat and has forwarded to the Board of Trustees a recommendation of approval, with conditions; and WHEREAS, the Board of Trustees has duly considered the proposed final plat and has held a properly noticed public hearing on the application; and WHEREAS, the Board of Trustees finds that the proposed final plat should be approved subject to certain conditions. NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF TRUSTEES OF THE TOWN OF FIRESTONE, COLORADO: Sertioo J. The Board of Trustees of the Town of Firestone does hereby approve the proposed final plat for the Firestone Community Minor Subdivision, subject to the conditions set forth on Exhibit A attached hereto and incorporated herein by reference. INTRODUCED, READ AND ADOPTED this.;27ty of C)ch)tu r , 2005. ATTEST: TOWN OF FIRESTONE, COLORADO ¼rUZ__ Michael P. Simone Mayor EXHIBIT A Final Plat Conditions of Approval Firestone Community Minor Subdivision I. Change the name to "Firestone Community Minor Subdivision." 2. Change the title of the plat to "Final Plat" instead of"Minor Plat." 3. Add "Sheet of "to the title block. 4. Add title block to second sheet. 5. Revise the text of the Ownership and Dedication block to reflect singular ownership: "Have Has laid out ... and by these presents do does hereby dedicate .... " 6. Revise "Notarial Certificate" to read "Notary Certificate" and provide for the same number of signatures to be notarized as are shown in the Owner signature block. 7. Revise the title of the signature block for the Town to read "Town Approval." 8. Remove the Lender Consent block as it is currently shown on the plat. The Town Attorney will review a current title commitment to determine whether consent of any lenders or lienholders is required; if so, the Town Attorney will provide the required language to be added to the plat. 9. Clarify whether the easement shown running east-west for the Duke Energy gas line has already been abandoned or is to be abandoned. (Easement is labeled "approximate location Duke Energy underground gas line (abandon).") 10. Remove references to permissible drilling windows for oil and gas wells. Only those wells currently in operation or for which a special use permit by the Town has been issued should be shown on the plat. 11. Label the adjacent Firestone Sports Field Minor Subdivision as "proposed." 12. Remove all references to the Frederick-Firestone Fire Protection District and "Station No. 3" from the plat. I O/i 9/200S 7:42 PM (sjl} F:\Ccmpany\F~ueStatioo (FFFPD).Plat. TB.res.doc 2 RESOLUTIONNO. 05 -3S SERIES 2005 A RESOLUTION SUPPORTING THE FREDERICK-FIRESTONE FIRE PROTECTION DISTRICT'S BALLOT ISSUE FOR THE INCLUSION OF FIRESTONE PROPERTIES WITIIIN THE DISTRICT WHEREAS, the Frederick-Firestone Fire Protection District ("Fire District") serves much of the Town of Firestone; and WHEREAS, the Board of Trustees, by the enactment of various resolutions and the execution of an intergovernmental agreement ("IGA") with the Fire District, has selected the Fire District as the contract provider of fire services and emergency medical services for the Town; and WHEREAS, in order for the Fire District to serve all areas of the Town, it is necessary for the Fire District to hold an election on the question of inclusion of certain Town properties into the Fire District; and WHEREAS, the Fire District has referred to the eligible electors of the Firestone areas proposed for inclusion into the Fire District the District's Ballot Issue A, which Ballotlssue is on the November I, 2005 election ballot; and WHEREAS, a copy of the Fire District's Ballot Issue A is set forth in Exhibit A to this resolution; and WHEREAS, the Board of Trustees finds that approval of Ballot Issue A will enhance the ability of the Fire District to provide fire services and emergency medical services in Firestone, will enhance the efficient provision of services to Town residents, and will help ensure that Firestone residents are provided cost-effective fire services and emergency medical services; and WHEREAS, the Fair Campaign Practices Act, C.R.S. l-45-117(1)(b), authorizes the Town=s adoption of a resolution and taking of a position of advocacy on any issue pending before the electorate. NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF TRUSTEES OF THE TOWN OF FIRESTONE, COLORADO: The Firestone Board of Trustees does hereby express its support for Ballot Issue A as proposed by the Frederick-Firestone Area Fire Protection District for the November I, 2005 ballot, and urges its citizens who are eligible electors for such Ballot Issue to support Ballot Issue A by voting "For Inclusion" of Town properties into the Frederick-Firestone Fire Protection District. INTRODUCED, READ, and ADOPTED this __ day of ______ ~ 2005. I ....... ~OWN···-.... . ·, ,;;.\fo' f\ 1 . i l,,.}IL.< ... : Attest: ·· .... 2 TOWN OF FIRESTONE, COLORADO Michael P. Simone Mayor EXHIBIT A -TEXT OF BALLOT ISSUE A BALLOT ISSUE A SHALL THE FOLLOWING DESCRIBED AREA BECOME A PART OF THE FREDERICK-FIRESTONE FIRE PROTECTION DISTRICT UPON THE FOLLOWING CONDITIONS IF ANY? PROPERTIES WITHIN THE TOWN OF FIRESTONE: THE REAL PROPERTY THAT IS LOCATED IN THE TOWN OF FIRESTONE, AND THAT WILL BE THE SUBJECT OF THE INCLUSION, GENERALLY LIES IN SECTIONS 5, 6, 7 AND 8, TOWNSHIP 2 NORTH, RANGE 67 WEST OF THE 6TH PRINCIPAL MERIDIAN, AND SECTIONS I, 2, 11 AND 12, TOWNSHIP 2 NORTH, RANGE 68 WEST OF THE 6TH PRINCIPAL MERIDIAN, COUNTY OF WELD, STATE OF COLORADO. ALL PUBLIC RIGHT-OF-WAYS WITHIN THE TOWN OF FIRESTONE WILL ALSO BE SUBJECT TO THE INCLUSION THE REAL PROPERTY THAT IS LOCATED IN THE TOWN OF FIRESTONE, AND THAT WILL BE THE SUBJECT OF THE INCLUSION IS GENERALLY REFERRED TO AS: ST VRAJN RANCH SUBDIVISION; VOGL ANNEXATION NORTH; VOGL ANNEXATION SOUTH; MOUNTAIN SHADOWS FILING I; MOUNTAIN VIEW ANNEXATION (SITE OF NEW W ALGREENS); HOPP ANNEXATION; NEIGHBORS SUBDMSION; OAK MEADOWS SUBDIVISION; DEL CAMINO CENTRAL ANNEXATION; COTTONWOOD HOLLOW NORTH SUBDIVISION; THE SHORES SUBDIVISION; LOT 10, BLOCK I DEL CAMINO BUSINESS PARK; LOT 3, BLOCK 2 DEL CAMINO BUSINESS PARK; LOT 5, BLOCK 2 DEL CAMINO BUSINESS PARK; LOT 8, BLOCK I DEL CAMINO PARK; LOT 7, BLOCK I DEL CAMINO BUSINESS PARK; LOT 6, BLOCK I DEL CAMINO BUSINESS PARK; LOT 5, BLOCK I DEL CAMINO BUSINESS PARK; LOT 4, BLOCK I DEL CAMINO BUSINESS PARK; LOT 2, BLOCK I DEL CAMINO BUSINESS PARK; LOT 3, BLOCK I DEL CAMINO BUSINESS PARK; LOT 2, BLOCK 2 DEL CAMINO BUSINESS PARK; COWBOY CORAL (LANCE ANNEXATION); OAK MEADOWS SUBDMSION; BOOTH FARMS; LOT I BOOTH FARMS MINOR; BOOTH FARMS MINOR OPEN SPACE; OUTLOT J BOOTH FARMS COMMERCIAL; FIRESTONE MEADOWS SUBDIVISION; DIAMOND G OFFICE BUILDING (DEL CAMINO BUSINESS PARK); ST VRAJN RANCH OPEN SPACE; US ALLIANCE CREDIT UNION; RIDECREST OPEN SPACE; BEST WESTERN INN & SUITES; ARM PETROLEUM RETAIL CENTER; FIRESTONE TRAIL; MOUNTAIN VIEW RETAIL CENTER; COAL RIDGE MIDDLE SCHOOL; PRAIRIE RIDGE ELEMENTARY SCHOOL; FIRESTONE SPORTS CENTER; AND SABLE GLEN SUBDMSION. CONDITIONS NONE 3 FOR INCLUSION AGAINST INCLUSION RESOLUTION NO. 05-3 (r, SERIES 2005 A RESOLUTION SUPPORTING THE PROPOSED DISSOLUTION OF THE TRI-AREA AMBULANCE DISTRICT WHEREAS, the Board of Trustees of the Town of Firestone, by the enactment of various resolutions and the execution of an intergovernmental agreement ("IGA") with the Frederick- Firestone Fire Protection District ("Fire District"), has selected the Fire District as the contract provider of fire services and emergency medical services for the Town; and WHEREAS, as part of such !GA, the Fire District is responsible for providing emergency medical services to the Town, which services are to be provided directly by the Fire District or through a contract provider to the District, and in either case in accordance with certain performance standards; and WHEREAS, the Tri-Area Ambulance District ("T AAD") currently provides emergency medical services to portions of the Town of Firestone; and WHEREAS, due to changes in its service areas and other factors, T AAD has decided to ask its eligible electors whether T AAD should be dissolved; and WHEREAS, T AAD has referred to its eligible electors voting in the November I, 2005 election a ballot issue concerning its proposed dissolution, which ballot issue reads as follows: "Shall the Tri-Area Ambulance District be dissolved in accordance with the plan for dissolution set forth in the agreement for service entered into by and between the Tri-Area Ambulance District, the Frederick-Firestone Fire Protection District and Mountain View Fire Protection District?"; and WHEREAS, the Board of Trustees finds that approval of the dissolution ofT AAD will result in a reduction in property truces that Town residents pay for emergency medical services, will enhance the ability of the Fire District to provide emergency medical services in Firestone, will enhance the efficient provision of services to Town residents, and will help ensure that Firestone residents are provided cost-effective and emergency medical services; and WHEREAS, the Board of Trustees therefore desires to express its support for the proposed dissolution of T AAD; and WHEREAS, the Fair Campaign Practices Act, C.R.S. 1-45-117(1 )(b), authorizes the Town=s adoption of a resolution and taking of a position of advocacy on any issue pending before the electorate. NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF TRUSTEES OF THE TOWN OF FIRESTONE, COLORADO: I The Firestone Board of Trustees does hereby express its support for the Tri-Area Ambulance District Ballot Issue proposing dissolution of the District, and urges its citizens who are eligible electors for such Ballot Issue to vote "Yes" in support of the dissolution of the Tri-Area Ambulance District. INTRODUCED, READ, and ADOPTED this ;;n__ "1ay of O ctll lli Y , 2005. .... -~~,r-1~ ····• .•• . . r:,'£,i}.v ··-... ____ ... -···-- A ~~"",£) dylkood own Clerk 2 TOWN OF FIRESTONE, COLORADO Michael P. Simone Mayor RESOLUTION NO. 05-3 7 A RESOLUTION APPROVING A FINAL DEVELOPMENT PLAN FOR AGRA HOLDING, LP FOR AN OFFICE BUILDING ON A PORTION OF LOT 3, BLOCK 2, DEL CAMINO JUNCTION BUSINESS PARK WHEREAS, there has been submitted to the Board of Trustees of the Town of Firestone a request for approval of a Final Development Plan for an office building on a portion .of Lot 3, Block 2, Del Camino Junction Business Park, owned by Agra Holdings, LP; and WHEREAS, all materials related to the proposed Final Development Plan have been reviewed by Town Staff and the Firestone Planning and Zoning Commission and found with conditions to be in compliance with Town of Firestone subdivision and zoning ordinances, Development Regulations, and related Town ordinances, regulations, and policies; and WHEREAS, the Firestone Planning and Zoning Commission has held a properly noticed public hearing on the proposed Final Development Plan, and has forwarded to the Board of Trustees a recommendation of approval of such plan with conditions; and WHEREAS, the Board of Trustees has duly considered the proposed Final Development Plan, and has held a properly noticed public hearing on the application; and WHEREAS, the Board of Trustees finds that the proposed Final Development Plan for Agra Holdings, LP should be approved subject to certain conditions. NOW, THEREFORE, BE IT RESOLVED BY THE TOWN BOARD OF THE TOWN OF FIRESTONE, COLORADO: Section 1. The Board of Trustees of the Town of Firestone, Colorado, does hereby approve the Final Development Plan for an office building on a portion of Lot 3, Block 2, Del Camino Junction Business Park, owned by Agra Holdings, LP, subject to the conditions set forth on Exhibit A, attached hereto and incorporated herein by reference. ATTEST: Michael P. Simone Mayor General EXIDBITA Final Development Plan Conditions of Approval Agra Holdings, LP I. In the application notebook, Sign Program section, remove reference to the "Lanning LLC FOP." 2. Add a Firestone Information Block to all text and map sheets. Also, remove the sheet title from the Title Block at the top of each sheet. 3. Modify the Vicinity Map to be consistent with the Firestone Development Regulations and show lots created by the Del Camino Junction Business Park Second Minor Replat. 4. Specify all building setbacks and show such dimensions on the FOP Site Plan. 5. Specify the address as directed by the Town Engineer. 6. Remove the word "proposed" from items shown for this FOP. 7. Provide an average yearly water consumption amount, to be used to calculate CBT requirements pursuant to direction from the Town Engineer. 8. The Utility Fixture Units worksheet should include irrigation unless the irrigation is metered separately, in which case an irrigation meter sizing worksheet should also be included. 9. Remove the proposed plat from the FOP. I 0. Modify. application pursuant to comments from the Town Engineer. 11. If the Town Engineer determines impacts to public improvements by this FOP are significant, execute a Subdivision Agreement as prepared by the Town Attorney. FDP Sbeet 1 12. In the Legal Description reference Lot 3, not 3A. 13. Revise the owner's acceptance block to read as follows: ACCEPTANCE BLOCK AND NOTARY 2 By signing this FDP, the Owner acknowledges and accepts all of the requirements and intent set forth herein. Sheet 2 14. In the Project Concept section, note that references to Lot 3A and Lot 38 only relate to areas of this Lot 3, until such time as a final plat is approved formally dividing Lot 3. Also, note that this FDP only relates to the Lot 3A portion of the site and if a final plat is approved dividing lot 3 into Lots 3A and 38, then an FDP shall be required for Lot 38. 15. In the Sign Program section, remove the last sentence of the first paragraph. 16. Remove the reference of the Owner having the right to not construct the signs shown. 17. Remove "(l set required)" in Sign Program section. Sheet 4 18. Street cut should be revised for the domestic and fireline connections. 19. Remove the "Industrial" reference to surrounding lots. 20. Identify the color of the trash enclosure to assure it matches the building. 21. Identify the width of the Business Park Circle right-of-way. Sheet 5 22. Add a note that if Lot 3 is subdivided as noted, the water service and meter and fire line to Lot 3A (i.e., the development approved under this FDP) cannot run through, connect to, or be located in Lot 38. 23. Water service and fireline are shown under main entrance and Trash Enclosure. The domestic and fireline should be moved out from under the entrance and trash enclosure, as this area will be subject to heavy truck traffic from trash pick up. Sheet 6 24. A channel rundown into the detention pond is proposed. The plan should clearly reference the trickle channel intended for the rundown. 25. Spot elevations should be added at the tie-in point of the access cross-pan. 26. The drainage letter for this lot states that the proposed development complies with the Final Drainage Report for Del Camino Junction Business Park. However, the drainage letter needs a summary of allowable proportioned flows from Lot 3 compared to developed flow from Lot 3A. Also, allowable flow from Lot 38 should be stated. 27. Riprap.calculations should be included for the channel rundown. Sheet 8 28. Add additional trees and shrubs around the building and trash enclosure as shown on the Town Planner's redlined plans. 29. Note the minimum caliper for deciduous trees as 2 inches. 30. Specify the size and color material of the cobble area as approved by the Town Planner. 31. Transition the cobble area near the street, as shown on the Town Planner's redlines. 32. Identify the "box" to the west of the trash enclosure. 33. Landscape plans do not include an irrigation layout. Irrigation plan should also include details. 34. Identify the rectangle in the bluegrass turf section north of the building. Sheet 9 35. Show the referenced building mounted signs. Sheet IQ 36. Provide a specific light pole detail showing size and color. Confirm that it is the same as used by the St. Vrain Sanitation District building to the south. Additional Conditions 37. Specify Honey Locust trees on the FOP. 11/10/200S 4: 16 PM {sjl) F:\Complmyl.tirtStOnC~ H~.FDP. TB.~doc 4 RESOLUTION NO. 05 -3 '6 A RESOLUTION APPROVING A FINAL SUBDIVISION PLAT FOR THE DEL CAMINO JUNCTION BUSINESS PARK SECOND MINOR PLAT. WHEREAS, there has been submitted to the Board of Trustees of the Town of Firestone a request for approval of a final subdivision plat for the Del Camino Junction Business Park Second Minor Plat; and WHEREAS, all materials related to the proposed final subdivision plat have been reviewed by Town Staff the and Firestone Planning and Zoning Commission, and found with conditions to be in compliance with Town of Firestone subdivision and zoning ordinances, Development Regulations, and related Town ordinances, regulations, and policies; and WHEREAS, the Firestone Planning and Zoning Commission has held a properly noticed public hearing on the proposed final subdivision plat and has forwarded to the Board of Trustees a recommendation of approval with conditions; and WHEREAS, the Board of Trustees has duly considered the proposed final subdivision plat and has held a properly noticed public hearing on the application; and WHEREAS, the Board of Trustees finds that the proposed final subdivision plat for the Del Camino Junction Business Park Second Minor Plat should be approved subject to certain conditions. NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF TRUSTEES OF THE TOWN OF FIRESTONE, COLORADO: Section 1. The Board of Trustees hereby approves the proposed final subdivision plat for the Del Camino Junction Business Park Second Minor Plat, subject to the conditions set forth in Exhibit A attached hereto and incorporated herein by reference. INTRODUCED, READ, AND ADOPTED this 8th day of December, 2005. YU Michael P. Simone Mayor EXHIBIT A Final Subdivision Plat Conditions of Approval Del Camino Junction Business Park Second Minor Plat I. In the sixth line of the Ownership and Dedication block, revise "City of Firestone" to read "Town of Firestone." 2. Revise references to "U.S. West Communications, Inc." in the Ownership and Dedication block to "Qwest, Inc." 3. Revise the Surveyor's Statement to read as follows: Surveyor's Statement I, Steven A. Lund, a Colorado Registered Professional Land Surveyor, do hereby state that this S1c1bclivisien Minor Plat was prepared from l! an ae!1c1al survey performed by me or under my JJersenal direct supervision that !he men1c1mentatien as inclieatecl hereen were f01cmcl er set as shewn, and that the feregeing Minor Plat is an accurate representation of the subdivision!hereef, all this te the best ef my lmewleclge, inferma!ien, belief, and in my Jlf0fessienal eJJinien. 4. Provide a Lender's Consent in the following format: Lender's Consent The undersigned, Centennial Bank of the West, a Colorado Banking Corporation, as the beneficiary of a deed of trust recorded at Reception No. 2877702, Weld County Clerk and Recorder, which constitutes a lien upon the property depicted on the accompanying plat, hereby consents to this plat, consents to the dedication of the streets, alleys, roads, easements, outlots and other public uses as shown on this plat, and forever releases said lands from the lien created by said instrument. 5. Revise plat in accordance with comments from the Town Engineer and Town Planner. J 2/07/2005 4: IJ PM [kl.:hJ F.\Company\Fircs1one\SubdivisionMyra Holdings Pint.TB res doc 2 RESOLUTIONNO. 05-39 A RESOLUTION APPROVING PRELIMINARY AND FINAL SUBDMSION PLATS AND AN OVERALL FINAL DEVELOPMENT PLAN FOR OAK MEADOWS VILLAGE. WHEREAS, there has been submitted to the Board of Trustees of the Town of Firestone a request for approval of preliminary and final subdivision plats and an overall final development plan for Oak Meadows Village; and WHEREAS, all materials related to the application have been reviewed by Town Staff and Firestone Planning and Zoning Commission and found with conditions to be in compliance with Town of Firestone subdivision and zoning ordinances, Development Regulations, and related Town ordinances, regulations, and policies; and WHEREAS, the Firestone Planning and Zoning Commission bas held a properly noticed public hearing on the application and bas forwarded to the Board of Trustees a recommendation of approval with conditions; and WHEREAS, the Board of Trustees bas duly considered the application and bas held a properly noticed public hearing on the application; and WHEREAS, the Board of Trustees finds that the proposed preliminary and final subdivision plats and overall final development plan for Oak Meadows Village should be approved subject to certain conditions. NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF TRUSTEES OF THE TOWN OF FIRESTONE, COLORADO: Section J The Board of Trustees hereby approves the proposed preliminary and final subdivision plats and overall final development plan for Oak Meadows Village, subject to the conditions set forth on Exhibit A, attached hereto and incorporated herein by reference. INTRODUCED, READ, AND ADOPTED this t'c.Jt, day of DoCP IV/ Pf,, 2005. B/1-/0,...___ Michael P. Simone Mayor General EXHIBIT A Preliminary and Final Subdivision Plats Overall Final Development Plan Conditions of Approval Oak Meadows Village I. Execute a Subdivision Agreement as prepared by the Town Attorney. ., I 2. Modify docwnents as specified by the Town Planner, Engineer and Attorney. 3. Remove references to "and/or" as such statements are confusing. 4. Note any docwnent to be recorded will be recorded with the Weld County Clerk and Recorder, not ~e Town of Firestone. 5. Specify a downcast lighting detail that is consistent with that used at High Plains Marketplace. 6. The HOA shall be formed and CCRs recorded prior to or at the time of recording the final plat and overall final development plan. 7. An updated title commitment must be provided at the time the mylars are presented to the Town for review. Plat 8. Specify which lots are subject to Final Plat. 9. On Sheet 1, delete Note 5 (agricultural note). 10. Revise Town Approval block to reference Town Board resolution nwnber approving the final plat. OFDP 11. Replace General Note #3 with the following: "Public land dedications shall be satisfied by cash in lieu payment, as specified in the Firestone Municipal Code." 12. In General Note #5, add the words "Outline Development Plan" at the end. 13. Add to the Monument Signage section a statement noting that such sign permit application shall be consistent with the signs shown and permitted by this FOP. 2 14. In the overall Land Use Table, delete the first note at the bottom of the table. 15. In the Environmental Impact Mitigation section, delete the first sentence. 16. Provide the Town with the reciprocal easements and restrictions referenced in the Private Maintenance and Enforcement section. I 7. In the Open Space section, note that maintenance will be by either a business owners association or the owner. Note that such maintenance will be in accordance with the Firestone Municipal Code and that the CCRs, if different that the Municipal Code, will be more restrictive not less restrictive. 18. In the Sign Program section, specify that all signs shall be consistent with the OFDP. Remove reference to variations, as such terms are too vague to be interpreted by the building department. Remove reference to sign locations that are not specific and to construction details being provided by others. 19. In the Zoning and Allowed Uses section, simplify statement to say that allowed uses are as set forth in the Firestone Development Regulations, as in effect from time to time. 20. On Sheet 3, delete references to "recommendations by the Town Engineer" regarding access. 21. On Sheet 5, revise "LSC. Statement" to read "Statement of Intent." 22. In the General Landscape Notes, clarify which notes relate to the overall Final Development Plan and which notes relate to future development; the revised notes shall be subject to review and approval by the Town Planner. Additional Conditions 23. Add directional islands and arrows at each entrance of the traffic circle. 24. In note 2 under the Architecture section, revise "determined" to read "determine." 25. Add note to the OFDP stating that the FOP for each lot shall identify whether space on a monument sign will be utilized by such lot and, if so, shall identify the specific design, text and color for the monument sign panel. 26. Remove the term "foundation for a" from the Project Concept section. 27. Update traffic study to account for full movement access from Colorado Boulevard. 28. Review addressing convention with Town Engineer and Town Planner. 29. Revise landscaping plan in OFDP to show only what will be planted with the OFDP; the revisions shall be subject to review and approval by the Town Planner. 30. Add a note to the OFDP that landscaping for the strip in Lots I and 3 north of the private drive will be installed at the time the landscaping and monument sign at the entrance from Oak Meadows Boulevard are installed. 08/l lnoc>S 4:02 PM (kkh] F:\Company\F'trc:sione\Subdivisions\DdTacoFDPF"maIPlat.TB.rcs.doc 4 RESOLUTION NO. OS-40 RESOLUTION TO ADOPT BUDGET TOWN OF FIRESTONE, COLORADO A RESOLUTION SUMMARIZING EXPENDITURES AND REVENUES FOR EACH FUND AND ADOPTING A BUDGET FOR THE TOWN OF FIRESTONE, COLORADO, FOR THE CALENDAR YEAR BEGINNING ON THE FIRST DAY OF JANUARY, 2006 AND ENDING ON THE LAST DAY OF DECEMBER, 2006. WHEREAS, the Board of Trustees of the Town of Firestone has directed the Town Administrator to prepare and submit a proposed budget to said governing body at the proper time; and WHEREAS, the Town Administrator has submitted a final proposed budget to this governing body on December 8, 2005 for its consideration; and WHEREAS, upon due and proper notice, published or posted in accordance with the law, said proposed budget was open for inspection by the public at a designated place, and interested taxpayers were given the opportunity to file or register any objections to said proposed budget; and WHEREAS, in accordance with Article X, Section 20 of the Colorado Constitution, approved by the voters on November 3, 1992, and "Amendment One Emergency Reserve" is included in the budget in a total amount estimated to equal three percent (3%) of the Town's fiscal year spending excluding bonded service, the final amount to be calculated when necessary final information is available to the Town; and WHEREAS, whatever increases may have been made in expenditures, like increases were added to the revenues, so that the budget remains in balance as required by law. NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF TRUSTEES OF THE TOWN OF FIRESTONE, COLORADO: Section I. That the budget as submitted, amended, and as attached to this resolution, be, and the same hereby is, approved and adopted as the budget of the Town of Firestone for the year stated above. Section 2. That the budget hereby approved and adopted shall be signed by the Mayor and Town Clerk and made a part of the public records of the Town. INTRODUCED, READ AND ADOPTED this /j---µ, day of De C, M Ju r 2005. TOWN OF FIREST Michael Simone Mayor 2 ,COLORADO 2006 BUDGET SUMMARY Go'lemmerul Type F<nd9 FilMaayType~ PropridmyT'fl)eF<nb ...... I Specbl R_,... F<nb I 0et,t Sen1ce Fund I C,pilall~F....ct. PemlDn Find ,_, ... -·.~\~ 'T;.!'J,,7.f , f~ •r"t r· ~-~JH,)'J.~"''"'.·~•f&, i·I 'c-· -•,Ff.A t•t t~;!'j-~-i~:q.< .1;~ \t• ,;.;01c1.~ ,.:F;f11 CIP r;· t~-·••Old....,,• ·/,V ~·~ater t•m•I -.l_~ Ftn1 It;.-:.. ,.•,~ 1vx1Jt1 t"';;,,,yn,s1 ~..,, h_i~ StJ-~ ~-F1nF~~ -*~ Gpac:i ,...;,_,' /lp Smice'r.l J'lFHFtnl • ~1.4'-~~,.., ~°'.'~f~,. '; .n,....,:_... fund· .... SOURCES OF FUNDS: Clnent R-: Tun Ind Assnsmenb 2,488,822 21.000 69,588 2,579,410 lJceRMs and Permb 605,500 177,000 56,550 1,527,500 2,340,000 4,706,550 ... .,....,.,,., 4,100 325,000 23,000 340,000 692,100 °""""""-90,800 1,611,250 1,702,050 FhnendForfeb 115,000 115,000 rru,nt, Donallora. "' Mi.c 62,800 2,500 1,000 7,500 1,500 300 1,500 51,000 5,300 17,500 150,800 --49,000 125,000 1,900.000 2,074,000 -8,153 15,000 23,153 TotalCincn!Rll"ffl'&leS 3,276,222 553,500 24,000 563,300 11900,000 22,500 69,888 58,050 1,578,500 13,453 3,983,750 121043,163 01l'ICI' So,n:m: Internal Trllnlfett In 50,000 875,000 216,000 1 . 370,000 1,511,000 -·-762,580 320 671 102,580 438,327 ' 11097 60,097 1,456 224,883 2,638,357 45,922 2,406,635 7,012,604 TOUII Olhcr Sot,c;n 812,580 1,195,671 102,580 654,327 381,097 60,097 1,456 224,883 21638,357 45,922 2,406,635 6,523,604 N TOia! Scucn of Finb 4,088,802 1,749,171 128,580 1,217,827 2,281,097 82,597 71,344 282,933 4,218,857 59,375 6,390,385 20,588,788 '" USES OF FUNDS: CU'Tcnl E.xperdlll'n: Leglsllltlve&Ele(:llons 45,742 45,742 ---652,785 410,667 219,986 1,283,439 -·-155,712 155,712 Plmrilg , ED & &,gn:emg 184,870 83,000 12,000 9,400 289,270 lnspedior4 & c,p.r.llon Charges 430,000 2,745,103 3,175,103 Pl.dcS..l,rty 1,725,739 1,725,739 -w-49,847 49,847 Heami& Welbre 88,200 88,200 -Repeb&Mail.nance 33,000 174,000 288,659 495,659 Dabl&LeaMSCMCOI 29,822 34,066 100,000 88,778 27,887 260,153 Cepltsl upend'lu"e 209,700 1,490,270 • 338,500 2,170,000 2,334,700 6,541,170 -7,850 50,000 15 550 73,400 Tot.I CU'Tent upend'lu"n 3,548,445 1,685,892 967 234 2 270 000 68,778 15,550 5,625,534 14,181,433 © --lrUmll Tr-'..-. CUI 100,000 25,000 225,000 1,181,000 1,511,000 ® Ending itne"'9'1 540,357 83,279 281580 250,393 11,097 57,597 2,566 57,933 3,055,8117 43,a2s 764,651 41874,3311 ToblOll>etllan 5401357 831279 1261580 2501393 11,001 B2 1597 21566 282,933 41216,857 43 1625 764,851 6,385,335 Total Usn ol Fl.Rb 4,oaa,ao2 1,749,171 126,580 1,217,827 2,za1,oe1 82,597 71,344 282,933 4,216,857 59,375 a 13901Jas 20,566,768 f®= 1s,1oq2,4;~ /( 28 TOWN OF FIRESTONE CO ALL FUNDS COMBINED BUDGET SUMMARY BUDGET YEAR ENDING DECEMBER 31 2006 Adual Prior Year Actual Prior Year Original Budget Estimated Current Proposed Budget 2003 2004 Year2005 Year 2005 Year2006 GENERAL FUND .. Balance BMIMlno of Year s 1,034 943 s 794 936 s 415,964 s 639,133 $ 762,580 All Revenues Sources 3 201,292 2,882,485 3199050 3.407.745 3,326,222 Total Resources Available 4,236 235 3677,421 3,615,014 • 4 046 878 4,088,802 All ExMnditures & Transfers 3,441,299 3,038,288 3,314,761 3,284 298 3,548 445 Erne Reserves R=ulred 70,271 85,719 91,943 91,029 106 623 Total Fund Balance End of Year s 794 936 s 639 133 s 300 253 s 762 580 s 540 357 Mill Levv 6.209 6,209 6.209 6.209 6.209 PARK FUND Balance B"""innino of Year s 336,832 $ 358,050 s 225,512 92025 320671 All Revenues Sources 583.412 395,169 1197,000 909,350 1,428 500 Total Resources Avallable 920,244 753,219 1 422,512 1,001,375 1 749 171 All nditures & Transfers 562,194 661,194 1 364 579 680,704 1,685,892 . Emeroe Reserves R-uired 16,866 19836 40,937 20,421 50577 Total Fund Balance End of Year s 358 050 s 92025 s 57 933 s 320 671 s 63.279 CONSERVATION TRUST Balance BenlMlno of Year s 40,645 $ 57,252 78,852 s 77,902 s 102 580 All Revenues Sources 16,607 20650 26,700 24 678 24,000 Total Resources Available 57 252 77902 105 552 102,580 126,580 All Exru!nditures & Transfers --70,000 -100000 Total Fund Balance End or Year s 57 252 s 77902 s 35552 s 102.580 s 26 580 HIGHWAY & SREETS FUND Balance IMlnn of Year s 354,406 $ 584,382 s 814,128 s 12,318 $ 438,327 All Revenues Sources 664181 1,619 737 1 113,404 1,919900 779,300 Total Resources Avallable 1,018,587 2 204,119 1,927,532 1,917,582 1,217 627 AIIEx ditures & Transfers 434,205 2 206 437 1 916,816 1479255 967,234 Emerae Reserves Renuired 13,026 66,193 57.504 44,378 29 017 Total Fund Balance End or Year • 584.382 s 12318 s 10.718 s 438 327 s 250 393 WATER FUND - Balance lnnlnn of Year 1,204,800 1,536 569 1,856 090 2,064 964 2,406.635 All Revenues Sources 4,337,234 4,547 383 4,799,800 4 063,810 3,983 750 Total Resources Avallable 5 542,034 6083 952 6 655890 6,128 774 6 390 385 All ndltures & Transfers 4,005,465 4 018,988 6,349 596 3 722 139 5,625.534 Emeroe~ Reserves R"""ulred 234 247 188,339 207 583 # 207,865 229,817 Total Fund Balance End of Year $ 1 536 569 I s 2 064 964 s 306 294 $ 2.406,635 I s 764 851 29 2006 Budget Document TOWN OF FIRESTONE CO ALL FUNDS COMBINED BUDGET SUMMARY BUDGET YEAR ENDING DECEMBER 31 2006 Adual Prior Year Adual Prior Year Original Budget Estimated Curren1 Proposed Budget 2003 2004 Year 2005 Year 2005 Year 2006 OLD IMPACT FEE FUND . Balance BenlMlnn of Year 2 900,282 596,165 652,399 701 003 224,883 Revenues 1 016,451 193,632 56000 73,880 58050 Total Resources Avallable 3,916 733 789 797 708,399 ' 774 883 282,933 nditures 3 320 568 88,794 550,000 550,000 225,000 Ememe Reserves Renuired 97 274 868 Total Fund Balance End of Year $ 596 165 $ 701 003 $ 158 399 $ 224 883 $ 57 933 CIPFUND . Balance Bea!Mlno of Year . 1,670,500 2038298 2 397,936 2,638,357 Revenues 1,670 500 1,603 359 2599952 1 525 421 1,578 500 Total Resources Avallab\e 1,670,500 3,273,859 4,638,250 # 3,923,357 4,216,857 Transfe ndilures 875 923 936,000 1 285 000 1,161 000 I . Total Fund Balance End of Year $ 1 670 500 $ 2 397 936 $ 3,702 250 $ 2 638 357 $ 3 055 857 DEBT SERVICE FUND . Balance 8Pn]Mlnn of Year . 1,783 . 1,801 2000 1,694 $ 1,456 Revenues 62,990 67,106 65038 65300 69,888 Total Resources Avallable ,. '64,773 # 68907 67,038 66,994 71,344 Exoendltures 62,972 67 213 64838 65538 68778 Total Fund Balance End of Year $ 1,801 $ 1 694 $ 2 200 $ 1.456 $ 2,566 MillLevv . 1.210 1,000 1.000 0.840 OPEN SPACE FUND Balance innlnn of Year . 36922 38.097 80097 Revenues . 38,097 23500 22,000 22,500 Total Resources Available . 38097 60,422 60.097 82,597 Transfe ndilures . . . 25,000 Em e Reserves Reaulred . . . Total Fund Balance End of Year $ $ 38 097 $ 60 422 $ 60.097 $ 57 597 OLD HIRE PENSION FUND Balance B-IMlnn of Year 49169 50529 48,254 48,254 45,922 Revenues 16,844 13,195 13,153 13,453 Total Resources Available 66,013 63,724 48,254 61,407 59 375 Transfe nd-• 15,484 15,470 15485 15550 Ememencv Reserves R ulred . . . Total Fund Balance End of Year $ 50 529 $ 48 254 $ 48.254 $ 45.922 $ 43 825 FIRESTONE FINANCE AUTHORITY Balance Bealnnlnn of Year . . 11,r197 Revenues . 2,045,300 2.270000 Total Resources Available . 2 045,300 2 281,097 Transfers/Ex ndilures . 2,034 203 2 270000 Emeraencv Reserves R-ulred . . 68,100 Total Fund Balance End of Year $ $ $ $ 11 097 $ 11.097 30 2006 Budget Documen1 TOWN OF FIRESTONE CO ALL FUNDS COMBINED BUDGET SUMMARY BUDGET YEAR ENDING DECEMBER 31 2006 Actual Prior Year Actual Prtor Year Original Budget Estimated Current Proposed Budget 2003 2004 Year2005 Year 2005 Year 2006 ALL FUNDS COMBINED . . Balance Bealnnlna of Year 5 922.860 5 650 184 6,166,419 6,058,690 7,012,605 Revenues 11,569,511 11 380,813 13 080 444 14,070,537 13,554163 Total Resources Available 17 492 371 17,030,997 19-248 663 20,129,227 20,566.768 Transfers/ExnAndttures 11 842.187 10 972 307 14.566 590 13,116.622 15 692 433 Emeraencv Reserves Reaulred 431,684 360 955 397 968 363.693 484,134 All Funds Balance End of Year s 5 650 184 s 6 058 690 s 4-662 273 s 7.012.605 s 4 674.335 Total Mill Levies 6.209 7.419 7.209 7.209 7.049 Assessed Valuation 47.233930 54 68B 970 69 416 870 69416870 83 287 660 31 2006 Budget Document RESOLUTION NO. OS--4 I TOWN OF FIRESTONE, COLORADO A RESOLUTION APPROPRIATING SUMS OF MONEY TO THE VARIO US FUNDS AND SPENDING AGENCIES, IN THE AMOUNTS AND FOR THE PURPOSES AS SET FORTH BELOW, FOR THE TOWN OF FIRESTONE, COLORADO, FOR THE 2006 BUDGET YEAR. WHEREAS, the Board of Trustees has adopted the annual budget in accordance with the Local Government Budget Law, on December 8, 2005; and WHEREAS, the Board of Trustees has made provision therein for revenues in an amount equal to total proposed expenditures as set forth in said budget; and WHEREAS, it is required by law but also necessary to appropriate the revenues provided in the budget to and for the purposes described below, so as not to impair the operation of the Town. NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF TRUSTEES OF THE TOWN OF FIRESTONE, COLORADO: Section 1. That the following sums are hereby appropriated from the revenues of each fund, for the purposes stated: General Fund Total General Fund Expenditures & Transfers $3,548,445 Park Fund Total Park Fund Expenditures & Transfers $1,685,892 Conservation Trust Fund Total Conservation Trust Fund Expenditures & Transfers $100,000 Highway and Streets Fund Total Street and Highway Fund Expenditures & Transfers $967,234 Water Fund Total Water Fund Expenditures & Transfers $5,625,534 Impact Fee Fund (old; per Ord. 347 and Res. 96-23) Total Impact Fund (old) Expenditures & Transfers $225,000 Capital Improvement Fund Roadway Impact: Drainage Impact: Regional Park: New Administration Building: Under grounding: $216,000 $50,000 $625,000 $270,000 $0 Total Capital Improvement Fund Expenditures & Transfers Debt Service Fund Total Debt Service Fund Expenditures & Transfers Open Space Trust Total Open Space Trust Fund Expenditures & Transfers Pension Fund (Old Hire Plan) Total Pension Fund Expenditures & Transfers Firestone Finance Authority Fund Total Firestone Finance Authority Fund Total Appropriations & Transfers: $1,161,000 $68,778 $25,000 $15,550 $2.270,000 $15.692.433 INTRODUCED, READ, and ADOPTED this J_ day of December , 2005. ••• ...-~OWN··• ..... . ', SEAL) ···-...... . .. --·:--·; Atte ~d~ own Clerk TOWN OF FIRE~ ~w-- Michael Simone Mayor 2 RESOLUTION NO. 05-4J A RESOLUTION LEVYING GENERAL PROPERTY TAXES FOR THE 2005 TAX YEAR, TO HELP DEFRAY THE COSTS OF GOVERNMENT FOR THE TOWN OF FIRESTONE, COLORADO FOR THE 2006 BUDGET YEAR. WHEREAS, the Board of Trustees of the Town of Firestone on December 8, 2005 adopted the annual budget for the 2006 budget year in accordance with the Local Government Budget Law; and WHEREAS, a general property tax mill levy is necessary to defray the general expenses of Town government for the 2006 budget year; and WHEREAS, due to the approval of ballot issue 2A on November 3, I 998, the Town of Firestone issued general obligation bonded debt in 1999 for the purpose of constructing a new town hall; and WHEREAS, the amount of money necessary for the debt service payment due in 2006 on the approved general obligation bonded debt is $68,778; and WHEREAS, the 2005 valuation for assessment for the Town of Firestone as certified by the County Assessor is $83,287,660; and WHEREAS, the Town is exempt from the statutory property tax revenue limitation (5.5% limit) due to voter approval of Ballot Issue A at the April 2, 1996 regular municipal election; and WHEREAS, the Town is exempt from the fiscal year spending limitation imposed by Article X, Section 20 to the Colorado Constitution, due to voter approval of Ballot Issue A at the April 2, 1996, regular municipal election; and WHEREAS, the Board of Trustees must certify the mill levies for the 2006 budget year by December 15, 2005, and by this Resolution desires to so certify its general mill levy and bonded debt mill levy. NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF TRUSTEES OF THE TOWN OF FIRESTONE, COLORADO: Section 1. That for the purpose of meeting all general operating expenses of the Town of Firestone during the 2006 budget year, there is hereby levied a tax of 6.209 mills upon each dollar of the total valuation for assessment of all taxable property within the Town for the year 2005. Section 2. That for the purpose of meeting payments for bonded indebtedness of the Town of Firestone during the 2006 budget year, there is hereby levied a tax of .840 mills upon each dollar of the total valuation for assessment ofall taxable property within the Town for the year 2005. Section 3. That the Town Clerk is hereby authorized and directed to immediately certify to the County Commissioners of Weld County, Colorado, the mill levy for the Town of Firestone as herein above determined and set. INTROD~CED, READ, and ADOPTED this g '-/4-. day of D...1 Ct IV1 lli r 2005. TOWN OF FIRESTONE, COLORADO ... •·\owN ····· ... . · •. ·-...... . .. -· ... ~'~ Mayor ~,919~ own Clerk 12/9/2004 3:27 PM(sjlJF:\Oflice\Firestone\Resohnion\Mill Levy Re,olution2004 2 l<t COLORADO November 30, 2005 OFFICE OF THE WELD COUNTY ASSESSOR PHONE (970) 353-3845, EXT 3650 FAX (970) 304-6433 WEBSITE: www.co.weld.co.us WELD COUNTY ADMINISTRATIVE OFFICES 1400N. 17THAVENUE GREELEY, COLORADO 80631 FINAL CERTIFICATION OF VALUATION FIRESTONE TOWN C/O PAT NELSON PO BOX 100 FIRESTONE CO 80520 Ladies/Gentlemen: The purpose of this letter is to provide the final certification of value for your district for the taxable year of 2005. This final certification includes any· changes from the preliminary certification you received in August. Please send a copy of your completed levy form (form DLG 70) to the assessor•s office before December 15, 2005 in order for us to compile and send our levy report to state agencies before December 20. We will provide the board of commissioners with copies ofthe levies. We realize this is a very short time frame and we appreciate your cooperation. Sincerely Yours, , . ssions Weld County Assessor Enclosures SFS:jsw M:\WPFILES\CERTIFY\05CERT2.OOC AMENDED CERTIFICATION OF VALUES Name of Jurisdiction: FIRESTONE New District: N USE FOR STATUTORY PROPERTY TAX REVENUE LIMIT CALCULATIONS (5.5% LIMIT) ONLY In accordance with 39-5-121(2)(a) and 39-5-128(1), C.R.S., The total Assessed Valuations for taxable year · 2005. In Weld On December 1, 2005 Are: Previous Yea(s Net Total Assessed Valuation: $ 69,416,870 Curreni Yea(s Gross Total Assessed Value + : $ 83,287,660 (-) ·Less TIF district increment, if any: $ 0 Current yea(s net total assessed valuation: $ 83,287,660 New Construction •: $ 6,462,110 Increased production of producing mine .. : $ 0 Annexations/Inclusions: $ 203,380 Previously exempt federal property .. : $ 0 New primary Oil or Gas production from any $ 1,566,960 oil and gas leasehold or land (29-1-301(1)(b) C.R.S.) ... : Taxes collected iast year on omitted property $ 557.26 as of AUGUST 1 (29-1-301(1)(a) C.R.S.): Taxez abated and refunded as of AUGUST 1 $ · 1,537.29 (28-1-301 (1 )(a) and 39-10-114(1 )(a)(I )(B) C.R.S.): t: Th;s value reflects personal property exemptions IF enacted by the jurisdiction as authorized by Art. X, Sec. 20(81(b), Colo. Constitution • New Construction Is defined as: Taxable real property structures and the personal property connected with the structure . ...... Jurisdiction must submit a certification to the Division of Local Government in order for a value to be accrued. (OLG52 & 52A) -•• Jurisdiction must submit an application to the Division of Local Government In order for a value to be accrued. (DLG 528) USE FOR 'TABOR' LOCAL GROWTH CALCULATIONS ONLY In Accordance with the Art.X, Sec20, Colorado Constitution and 39-5-121(2)(b),C.R.S. The Actual Valuations for the Taxable Year 2005 In Weld On December 1, 2005 Are: Current Yea(s Total Actual Value of All Real Property•: $ 611,276,835 ADDITIONS TO TAXABLE REAL PROPERTY: $ 56,195,240 Construction of taxable real property improvements .. : Annexations/Inclusions: $ 701,281 . Increased mining production ... : $ 0 Previously exempt property: $ 0 Oil or Gas production from a new well: $ 1,790,799 Taxable real property omitted from the prevous yea(s tax $ 0 warrant.(Only the most current year value can be reported) : DELETIONS.FROM TAXABLE REAL PROPERTY: $ 292 Destruction of taxable real property improvements: Disconnection/Exclusion: $ 0 Previously taxable property: $ 188,999 • This Includes the actual value of all taxable real property plus the actual value of religious, private schools, and charitable real property. -Construction Is defined as newly constructed taxable real property structures. •-Includes production from a new mine and Increase In production of a producing mine. NOTE: All levies must be certified to the Board of County Commissioners no.later than December 15, 2005 RESOLUTION NO. 0 b-O ( A RESOLUTION DESIGNATING THE PLACE FOR POSTING OF NOTICES OF MEETINGS OF THE BOARD OF TRUSTEES OF THE TOWN OF FIRESTONE. WHEREAS, Senate Bill 91-33 requires the Board of Trustees to designate the public place or places for posting of notices of the Board's public meetings. NOW THEREFORE, BE IT RESOLVED BY THE BOARD OF TRUSTEES OF THE TOWN OF FIRESTONE, COLORADO: Section 1. Pursuant to Section 24-6-402(2)(C), C.R.S., notices of meetings of the Board of Trustees of the Town of Firestone shall be posted at the front entrance window of the Firestone Town Hall, I 50 Grant Avenue, Firestone, CO 80520. Meeting notices may additionally be posted on the Town's website, www.ci.firestone.co.us. :---IJ, INTRODUCED, READ, and ADOPTED this .Ll:_ day of Jo"-'-"-~ 2006. . imone Mayor 1/9/2006 9:10 AM lcdl) Y;\Y~\f'osting Town Board NOliccs.Rcs.2006.doc RESOLUTION NO. 0 0 -~ ;2_ A RESOLUTION DELEGATING TO THE TOWN CLERK THE AUTHORITY AND RESPONSIBILITY TO APPOINT JUDGES OF ELECTION WHEREAS, on April 4, 2006 a regular municipal election will be held in the Town of Firestone; and WHEREAS, C.R.S. § 31-10-4-1 requires the Board of Trustees to appoint the judges of election, or to delegate to the Town Clerk the authority and responsibility to appoint election judges; and WHEREAS, the Board of Trustees has determined to delegate its authority and responsibility to appoint election judges to the Town Clerk. NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF TRUSTEES OF THE TOWN OF FIRESTONE, COLORADO: Section 1. Pursuant to C.R.S. §31-10-401, the Board of Trustees of the Town of Firestone hereby delegates to the Town Clerk of the Town of Firestone the authority and responsibility to appoint judges for all town elections. Section 2. All such appointments made by the Town Clerk shall be in accordance with the requirements for judges of election set forth in Part 4 of the Municipal Election Code, C.R.S. § 31-10-401, et seq. INTRODUCED, READ, AND ADOPTED this 19th day of January, 2006. •• ••···~oWN ······ ... _ SEAL ··-.......... ············..-. TO"o/N OF FIRESTONE, COLORADO Michael1 Simone Mayor ~~~o,Q yHegwd own Clerk / TOWN BOARD RESOLUTION NO. oc'o -o3 A RESOLUTION AUTHORIZING THE TOWN OF FIRESTONE TO SUBMIT A GREAT OUTDOORS COLORADO GRANT (GOCO) REQUEST FOR FINANCIAL ASSISTANCE FOR CONSTRUCTION OF FIRESTONE REGIONAL SPORTS COMPLEX Whereas, the Town of Firestone has seen the need to continue park development within the Town; and Whereas, the Town of Firestone owns and will be responsible for maintenance of Firestone Regional Sports Complex, once constructed as a town park; and Whereas, the Town of Firestone has approved $785,000 in the 2006 Park Fund Town Budget for Phase I of the Firestone Regional Sports Complex; and Whereas, the Town of Firestone has developed plans for construction of this park; and Whereas, the cost to complete build out of the Firestone Regional Sports Complex is $3,000,000; and Whereas, there is an opportunity to apply for Great Outdoors Colorado (GOCO) and Department of Local Affairs (DOLA) grants to match funds from the Town of Firestone; and Whereas, the Firestone Parks and Trails Advisory Board is an advisory board to the Town of Firestone Board of Trustees; and Whereas, the Firestone Parks and Trails Advisory Board has discussed the need for additional park improvements within Firestone and supports the Firestone staff in applying for grants for the Firestone Regional Sports Complex. NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF TRUSTEES OF THE TOWN OF FIRESTONE, COLORADO, AS FOLLOWS: 1. The Town Administrator, or her designee, is hereby authorized and encouraged to submit a Great Outdoors Colorado grant request for financial assistance for the construction of Firestone Regional Sports Complex. 2. The Town Administrator is hereby authorized to execute and sign any and all documentation on behalf of the Town to facilitate said request. RESOLVED AND PASSED THIS ;}3 rd DAY OF khruar '/ , 2006 7 TOWN OF FIRESTONE, COLORADO ,_...•·;owN ·····• .... SEAL . . . . . . . . BO~ (7th, IP s· M rmone, ayor / RESOLUTION NO. 06-O't A RESOLUTION APPROVING A FINAL DEVELOPMENT PLAN FOR THE FIRE STATION CAR WASH WHEREAS, there has been submitted to the Board of Trustees of the Town of Firestone a request for approval of a final development plan for the Fire Station Car Wash on Lot I, Block I, Firestone Center, Town of Firestone; and WHEREAS, all materials related to the proposed final development plan have been reviewed by Town Staff and the Firestone Planning and Zoning Commission; WHEREAS, the Firestone Planning and Zoning Commission held a properly noticed public hearing on the application, and forwarded to the Board of Trustees its Resolution No. PC-05-21, recommending denial of the proposed final development plan; and WHEREAS, the Board of Trustees has duly considered Planning and Zoning Commission's recommendation;and WHEREAS, the Board of Trustees has held a properly noticed public hearing on the application and found the application, with conditions, to be in compliance with Town of Firestone subdivision and zoning ordinances, Development Regulations, and related Town ordinances, regulations, and policies; and WHEREAS, the Board of Trustees finds that the proposed final development plan should be approved subject to certain conditions. NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF TRUSTEES OF THE TOWN OF FIRESTONE, COLORADO: Scrtioo ] The Board of Trustees of the Town of Firestone does hereby approve the proposed final development plan for the Fire Station Car Wash on Lot I, Block 1, Firestone Center, subject to the conditions set forth on Exhibit A attached hereto and incorporated herein by reference. INTRODUCED, READ AND ADOPTED this q,JJ, day of MAech 2006. TOWN OF FIRESTONE, COLORADO ... ···~~\/'ll'll ···· ..... Sf-~l. . . ::b~--- Mayor . . .. tJocCJ 3/6/200<, J:J I PM illjl) Y:\Flrestonc\$ubdivisions\F'ITCSuuionCerWash.FDP.TB.rcs,doc (redline) General EXHIBIT A Final Development Plan Conditions of Approval Fire Station Car Wash I. Provide a copy of the petition for inclusion in the Frederick Firestone Fire Protection District and remove the note regarding the same from the Utilities and Service Requirements section in the FOP. 2. Modify application pursuant to comments from the Town Engineer; also modify application pursuant to comments from Town Attorney as set forth on the Town Attorney's November 16, 2005 comment memo attached hereto. FOP EDP General 3. Change the text style to a form more typical with zoning documents. For example remove reference to "our," "we," etc. Sheet 1 4. In the T .and I Ise Z-0ning Density section, note that a "dog wash" facility is prohibited for the attached retail building. S. In the I.and Jlse Zoning Density section, clarify that the retail area may be utilized by one or two businesses. 6. In the Minimum Building Setbacks section, note that the setbacks are specific measured distances as shown on the FOP site plan. 7. In thte Architecture section, remove the reference to an exhibit in the notebook and be specific with the information being referenced; the final version of this section shall be subject to review and approval by the Town Planner. 8. In the Sign Program section, remove references to private covenants. 9. In the Sign Program section, replace the reference to the Firestone sign code and replace it with "as shown on this FOP". Also, note that temporary marketing signs may be permitted pursuant to the procedures and standards set forth in the Firestone Municipal Code. I 0. Provide dimensioned sign details for all freestanding and building mounted signs. Provide options if greater or fewer tenants are located in the building and reference specific dimension changes for the various options. No signage shall be permitted on the north building elevation. The final sign details shall be subject to review and approval by the Town Planner. 11. Delete the last paragraph under the CBT Calculations block that begins as follows: "This water usage is not all new to Firestone ... " 12. Modify the CBT Requirements section pursuant to comments from the Town Engineer. Any additional CBT dedication requirements shall be satisfied according to the requirements of the applicable subdivision agreement. Add notes to the FDP detailing the manner of extension of water services to three uses on the property (i.e., car wash and two commercial tenant spaces). The notes shall be in form and substance acceptable to the Town Administrator and Town Engineer. 13. Revise the Drainage and Grading section to include a reference to the "Final Drainage Summary, The Fire Station Car Wash" that was submitted with the proposed FDP. Also, remove the word "proposed" in this section and complete the last sentence. 14. Delete the first paragraph in the Genera) Notes ~ection that begins as follows: "The Town shall not issue a certificate ... " Also, revise the second sentence in the third paragraph to read as follows: "The Town also will not be liable for any financial loss for down time that may occur if the access out of the carwash is blocked and it cannot be used due to maintenance of the storm sewer." 15. There are two vicinity maps. Remove the top one and revise the bottom one to accurately reflect the existing limits of the Town and to identify Colorado Community Bank. Sheet 2 16. Identify the dimensions of parking spaces, "escape aisles," and proposed circulation within the Lot. 17. Note the specific sign on the clearance bar and note the.color of the bar. 18. Show a detail of the vinyl fence, which shall be subject to review and approval by the Town Planner. Sheet 3 19. Delete the notes that read "grass seed by others." 20. Provide for a privacy fence along the entire north property line, with a taper to split rail on each end and additional landscaping on the interior side of the fence, and add notes and details regarding same. This fence shall be installed prior to issuance of the first CO or commencement of the car wash operation, whichever first occurs. 21. Clarify the location(s) and color of the "plant pit(s)". Have the plant pit material colors match those of the split face concrete block. 22. Add two plant pits to the south side of the retail area, similar to those shown south of the maintenance area. 4 Sheet 4 23. Revise the title block of Sheet 4 to read "Sheet 4 of9." 24. On the south elevation, revise the sign text from "Touchless Car Wash" to "Car Wash." 25. Clarify the interior bay walls as white epoxy finish with a stripe coordinating with the other colors used in the building. 26. On Finish Legend 10, replace "red" with "to match color of split face concrete block (Legend 2)." Sheet S 27. Provide the proposed address of the building and individual retail spaces if they are to have separate addresses. 28. Label paved areas and walkways on the grading plan. Additional Conditions 29. Add plant pits in front of vacuum area. 30. Add directional arrows, signage, and striping to guide circulation within the site. 31. Revise all references to Mountain View Fire Protection District to read "Frederick Firestone Fire Protection District." 32. Add signage to the southwest comer of the site; the signage detail, dimensions and materials shall be subject to final review and approval by the Town Planner. 33. Add signage that no vehicle repairs may be conducted on site. 34. Remove the two vacuum locations from the parking aisles immediately adjacent to the walkway leading to the retail sites and adjust parking space widths accordingly. 35. Modify landscape plans to incorporate additional landscaping at the site entrance and, if approved by the Town Planner and Town Engineer, to. incorporate berming. The final landscape and grading plan for the site entrance areas shall be subject to review and approval by the Town Engineer and Town Planner. 36. Noise from automated attendant shall not be audible off-site. 3 7. The operator shall ·maintain the premises in a neat and orderly condition and take such actions as are necessary to maintain painting, signage, landscaping and other features in accordance with the FOP. 5 RESOLUTION NO. 0 b -05 A RESOLUTION APPROVING A FINAL SUBDIVISION PLAT AND FINAL DEVELOPMENT PLAN FOR VOGL LAND -NORTH PARCEL, FIRST FILING WHEREAS, there has been submitted to the Board of Trustees of the Town of Firestone a request for approval of a final subdivision plat and final development plan for Vogl Land -North Parcel, First Filing; and WHEREAS, all materials related to the proposed final subdivision plat and final development plan have been reviewed by Town Staff and Firestone Planning and Zoning Commission and found with conditions to be in compliance with Town of Firestone subdivision and zoning ordinances, Development Regulations, and related Town ordinances, regulations, and policies; and WHEREAS, the Firestone Planning and Zoning Commission held a properly noticed public hearing on the proposed final subdivision plat and final development plan and has forwarded to the Board of Trustees a recommendation of approval, with conditions; and WHEREAS, the Board of Trustees has duly considered the proposed final subdivision plat and final development plan and has held a properly noticed public hearing on the application; and WHEREAS, the Board of Trustees finds that the proposed final subdivision plat and final development plan for Vogl Land -North Parcel, First Filing should be approved subject to certain conditions. NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF TRUSTEES OF THE TOWN OF FIRESTONE, COLORADO: Section J The Board of Trustees hereby approves the proposed Final Subdivision Plat and Final Development Plan for Vogl Land -North Parcel, First Filing, subject to the conditions set forth on Exhibit A, attached hereto and incorporated herein by reference. PASSED AND ADOPTED this 9'-/1-, day of "-trlcu..c_/1 ,2006. ATTEST: fi!f;rt:i?f:3~ own Clerk ~-~ Michael P. Simone Mayor General EXIIlBIT A Final Plat and Final Development Plan Vogl Land -North Parcel, First Filing Conditions of Approval I. For the final mylars use the font size specified in the Regulations. 2. Remove reference to Weld County Roads as they are Firestone Streets. 3. In the Vicinity Map, identify the Regional Trail as the Firestone Trail, remove the reference to The Shores Filing I, and remove references to the following: The Shores dwelling units, the approved gravel mining operation, Brooks Farm dwelling units, Neighbors Point, and the Almo Annexation. Also, replace the reference to Firestone Center with its name. 4. Modify documents pursuant to comments from the Town Engineer and the Town Planner. 5. Provide copies of Schedule B documents from title commitment. 6. Make necessary revisions to the legal descriptions shown on the final plat and FOP so that the two descriptions are consistent with one another and with the title commitment. 7. Provide HOA formation documents and draft covenants for review by Town staff. 8. Subdivider shall design and construct a development wide underdrain system, providing an outfall for individual foundation drains to provide a means to help control groundwater and reduce groundwater impact to underground public utilities. The design shall be subject to review and approval by the Town Engineer and included in the final construction plans. 9. Provide a drainage basin study of historic and developed conditions to the satisfaction of the Town Engineer. Notebook 10. Modify the vicinity map pursuant to comments herein to show the Town's boundaries and remove striping from non-site area southwest of the property. Also add a North arrow. I I. Modify the revegitation plan pursuant to comments from Town Planner and Town Engineer. Final Plat Genera) 12. Modify Outlot E as shown to encompass an area that includes all trail corridors within 150' of the oil/gas well in that location and deduct such area from the lands credited against the 2 public land dedication (PLD) requirement. Also, deduct the area within 150' of the oil/well in the north of Outlot A as a credit against the PLD. Reflect these changes in the land use table. 13. Show curve dimensions on the plat map in addition to the curve table. 14. Assure that the irrigation easement is along side of, but not directly below, the public trail system. 15. In the Easement Description section, remove reference to specific utility providers. 16. Provide a SO-scale map of Outlot H, as it connects to Filing I. 17. Show easements for irrigation system, in locations and widths determined necessary by the Town Engineer. Sheet I 18. Clarify why the Owner/Developer definition is different than on the FDP. 19. In the Tract Descriptions section, reference Tracts A, B, and C as future development. 20. Remove references to the Landscaping Technical Consultant. 21. Remove reference to maintenance of Outlot E by a third party. Outlot E shall be maintained by the subdivider and, if approved pursuant to the Subdivision Agreement, by a successor owners' association. 22. Remove reference to "Provence" in the Notary section, unless required by the jurisdiction where the plat will be signed. 23. Revise "beneficiary" to read "beneficiaries" in the first lenders' consent. 24. Revise the notary acknowledgements following each lender's consent to read "the foregoing lender's consent ... " instead of"the foregoing instrument .... " 25. Revise the Town Approval block, Surveyor's Certificate, and Gas and Electric Easement Approvals block to the Town's standard format. FOP General 26. Incorporate pertinent comments relative to the Final Plat. 27. Identify address sign types for the dwelling units pursuant the Regulations. 28. Remove references to "proposed" as this is a FOP (e.g. irrigation system). 29. Reconcile the difference between the 84 shares of New Coal Ridge Ditch Company stock referenced in the text and the 74 shares referenced in the Water Rights Questionnaire. Provide evidence of share ownership to the Town. 30. Resolve text conflicts on plans (where one set of text is on top of another). 31. Provide a schedule and plan for Subdivider's removal of"ex" barbed-wire fence adjacent to site, which plan and schedule shall be subject to review and approval by the Town Planner. 32. When referencing other Tracts, use the designation for the zoning of the property as specified in the ODP as a land use reference. 33. Revise all plans to show trail alignments consistent with revised FOP presented at Town Board public hearing 34. Remove references to future 6' trail that connects from the commercial area to the IO' concrete trail. 35. Remove the striping from the area southwest of the property (west of Sagebrush) from the vicinity map. 36. Delete references to commercial development in the Water Demand Calculation block. Provide a Water Demand Table pursuant to the direction of the Town Engineer. 37. Revise the Owner Acceptance block to comply with the Development Regulations. 38. Label oil and gas wells with the owners/operators. 39. Revise the title block on all sheets to read "Vogl Land-North Parcel, First Filing." EOPiext 40. In the Project Concept section, note that this Filing will provide for regional contiguity to Firestone Regional Trail system. 41. Add further detail in the FOP (and in the subdivision agreement) concerning the removal of the emergency access road and restoration of the road area. 42. In the Land Use and Public Land Dedication section, revise to provide that the locations of additional PLO required for future filings will be as determined by the Town according to Town ordinances. This section shall include the PLO credit to be carried forward to future filings. 4 43. If certain lots are limited to a two-car drive~ay only, such information should be identified on the FDP. 44. In the Irrigation System section, identify the methodology used to determine "excess water." This methodology shall be subject to review and approval by the Town Engineer. 45. In the Private Maintenance Enforcement and Controls section, remove "billing the HOA for its share of costs in proportion to its use of water". (This issue will be addressed by Town ordinances and/or the irrigation system agreement.) 46. In the Private Maintenance Enforcement and Controls section, remove the paragraph that begins with "The requirements of the FOP ... " 47. In the Parking section, specify which lots are limited to two-car driveways. 48. In the Architecture section, front elevations, further define "masonry." 49. In the Architecture section, four-sided elevation, remove references to "typically" and "could" and provide specific information. SO. In the Architecture section, for both the four-sided elevation and the enhanced elevation, reference the noted elevation table. S l. In the Architecture section, Controls on Repetitive Models section, remove references to "distinctly different" and "etc." and provide specific criteria, which criteria shall be subject to review and approval by the Town Planner. 52. In the Architecture section, Eaves and Roof sections, provide standards that are consistent with the Town Code. 53. In the Architecture section, Basement section, specify that basements are required unless specifically waived by the Town Engineer in writing. 54. In the Architecture section, Square Footage section, note that only one accessory building is permitted per lot. 55. In the Architecture section, General Standards section, remove references to the HOA Regulations. 56. In the Architecture section, Decks section, note that decks shall not be permitted in building setbacks for the side yard or front yard, or IO' from the rear lot line. Also, no decks shall be permitted to be constructed over a utility easement. 57. In the Setback section, remove reference to a setback from Firestone Blvd. 58. In the Setback section, confirm that no accessory building will be over a utility easement. 59. In the Private Maintenance, Enforcement and Controls section, delete language regarding the HOA insuring compliance with FOP requirements. FOP Maps Sheet 2 60. Add a note to clarify that Filings 2, 3, and 4 are shown illustratively based ori the PDP and are not a part of this Filing I FOP. Sheet3 61. Provide Outlot H in the Tract plan map. Sheet 4 62. Modify trail location to be outside of the I SO' well setback. Sheet 6 63. Move shade structure to be outside of ISO' well setback. Sheet 7 64. Identify Tract 8. Sheet I 8 65. Clarify how the transition will occur between the turf grass area and the traditional grass area in terms of a physical barrier. Sheet 21 66. Revise fence detail to include specific designs, materials and dimensions, which shall be consistent with the material samples and designs presented at the Town Board public hearing. The final fence detail shall be subject to review and approval by the Town Planner. 67. Show a typical of the referenced 2' by 4' wire mesh in the fence detail. 68. Provide the Town's typical transitional detail from privacy fence to rail fence. 69. Show any fencing plan for Outlot H. Sheet 23 6 70. Add a note that all details for park improvements shall be approved by the Town Public Works Director prior to installation. Sheet 38 71. Locate materials on typical elevations as it is not clear if the elevation at the bottom left hand edge of the sheet has the required rock or brick on the front elevation. Additional Conditions 72. Add gas easement to plat for Kerr McGee line. 73. Add detail to FDP sheets for entry signage; the design, materials and dimensions shall be consistent with the presentation at the Town Board public hearing, and the final detail shall be subject to review and approval by the Town Planner. 74. The sidewalk widths approved for this Filing shall not be considered as precluding a· requirement for expanded sidewalk widths in future filings. 75. Add a note that the barbed wire fencing in the HOA tract shall be removed upon request of the Town. 76. Confirm one HOA will be in place for all of Vogl-North. 77. Clarify process for variances for chimney sizes in Architecture section. 78. Clarify garage information in Architecture section. 79. Prior to plat recording, an agreement shall be executed with the Town concerning the construction, operation and maintenance of the irrigation system; the administration of water rights for the system, and related matters. 3/11/2006 7;00 PM[sjl) F:\Company\F"lfCSlonc\SutxtivisioVogl Nonh.F"dinal.TB.rcs.(final) 7 • RESOLUTION NO. {) 0 · Q/o A RESOLUTION OF THE TOWN OF FIRESTONE, COLORADO, SUBMITTING TO THE REGISTERED ELECTORS OF THE TOWN AT THE REGULAR ELECTION TO BE HELD ON APRIL 4, 2006, A BALLOT QUESTION CONCERNING THE SALE AND DISPOSAL OF REAL PROPERTY USED OR HELD FOR PARK PURPOSES OR OTHER GOVERNMENTAL PURPOSE TO THE CITY OF DACONO, COLORADO. WHEREAS, the Town of Firestone is a statutory Town organized and existing under and by virtue of the laws of the state of Colorado; and, WHEREAS, the Town of Firestone owns certain real property consisting of approximately 30.45 acres located in Sections 1 and 12, Townshii 1 North, Range 68 West, and Section 6, Township I North, Range 67 West of the 6 Principal Meridian, County of Weld, State of Colorado, formerly known as the Union Pacific Railroad Right of Way, being that former railroad right of way generally bounded on the north by State Highway 52 and on the south by Weld County Road 12, more particularly described as follows: See Exhibit "A," attached hereto and incorporated herein by this reference ("Real Property"), WHEREAS, the Board of Trustees of the Town of Firestone has determined that the Real Property is no longer needed by the Town for Town purposes; and, WHEREAS, pursuant to C.R.S. § 31-15-713(1)(a), the governing body of the Town has the power to sell and dispose of waterworks, ditches, gasworks, geothermal systems, solar systems, electric light works, or other public utilities, public utilities, public buildings, real property used or held for park purposes, or any other real property used or held for any governmental purpose; and, WHEREAS, said§ 31-15-713(1)(a) provides that before any such sale is made, the question of said sale and the terms and consideration thereof shall be submitted at a regular or special election and approved in the manner provided for authorization of bonded indebtedness by C.R.S. § 31-15-302(1)(d); and, WHEREAS, pursuant to C.R.S § 31-11-111(2) the legislative body of any municipality may, without receipt of any petition, submit any proposed or adopted ordinance or resolution or any question to a vote of the registered electors of the municipality, and the legislative body of the municipality or its designee shall fix a ballot title for the referred measure; and, WHEREAS, pursuant to Paragraph 1.10.030 of the Firestone Municipal Code the Board of Trustees may, without receipt of any petition, submit any proposed or adopted ordinance or resolution or any question to a vote of the registered electors of the Town pursuant to C.R.S § 31-11-111 (2); and, WHEREAS, an agreement has been proposed between the Town of Firestone and 1 the Town of Dacono under which the Town would convey, sell and dispose of the Real Property to the City of Dacono; and, WHEREAS, such proposed agreement provides that after the closing of such sale, disposal and conveyance, the Real Property shall be used by the City of Dacono for a public trail as part of the Legacy Trail Rails to Trails trail way system; and WHEREAS, the Board of Trustees desires to refer to the registered electors of the Town of Firestone at the regular election to be held on April 4, 2006 a ballot question concerning the proposed sale and disposal of the Real Property to the City of Dacono. NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF TRUSTEES OF TOWN OF FIRESTONE, COLORADO: Section 1. At the regular municipal election to be held in the various precincts and at the polling places of the Town of Firestone on Tuesday, April 4, 2006, between the hours of 7:00 AM and 7:00 PM, there shall be submitted to the vote of the registered electors of the Town of Firestone the ballot question herein authorized. Section 2. At said regular election, the official ballot, including absentee ballots, shall state the substance of the question to be voted upon and so stated shall constitute the ballot title, designation and submission clause, and each registered elector voting at the election shall indicate his or her choice on the question submitted, which shall be certified in substantially the following form: BALLOT QUESTION __ SHALL THE TOWN OF FIRESTONE SELL, CONVEY AND DISPOSE OF REAL PROPERTY CONSISTING OF APPROXIMATELY 30.45 ACRES LOCATED IN SECTIONS I AND 12, TOWNSHIP I NORTH, RANGE 68 WEST, AND SECTION 6, TOWNSHIP I NORTH, RANGE 67 WEST OF THE 6TH PRINC[PAL MERlDIAN, COUNTY OF WELD, STATE OF COLORADO, FORMERLY KNOWN AS THE UNION PAClFIC RAILROAD RlGHT OF WAY, BEING THAT FORMER RAILROAD RlGHT OF WAY GENERALLY BOUNDED ON THE NORTH BY STATE IDGHWAY 52 AND ON THE SOUTH BY WELD COUNTY ROAD 12, TO THE CITY OF DACONO, COLORADO UPON THE FOLLOWING TERMS AND CONSIDERATION: (1) SALE PRlCE OF $8,000.00; (2) THE REAL PROPERTY CONVEYED TO THE CITY OF DACONO SHALL BE USED ONLY FOR A PUBUC TRAIL AS PART OF THE LEGACY TRAIL RAILS TO TRAILS TRAIL WAY SYSTEM; (3) THE REAL PROPERTY CONVEYED TO THE CITY OF DACONO SHALL BE ADMINISTERED AND USED BY THE CITY OF DACONO IN ACCORDANCE WITH THE REQUIREMENTS AND RESTRlCTIONS SET FORTH IN THE CONTRACT BY AND BETWEEN THE COLORADO DEPARTMENT OF TRANSPORTATION AND THE TOWN OF FIRESTONE, DATED DECEMBER 16, 1996; AND, (4) THE REAL PROPERTY CONVEYED TO THE CITY OF DACONO SHALL BE ADMINISTERED AND USED BY THE CITY OF DACONO lN 2 ACCORDANCE WITH THE REQUIREMENTS AND RESTRICTIONS SET FORTH IN THE INTERIM COO RD INA TED PLANNING AGREEMENT BY AND AMONG THE BOARD OF COUNTY COMMISSIONERS OF THE COUNTY OF WELD, THE CITY OF DACONO, THE TOWN OF FIRESTONE, AND THE TOWN OF FREDERICK, DATED APRIL 15, 1997; AND SHALL THE BOARD OF TRUSTEES, UPON APPROVAL OF THIS QUESTION, BE AUTHORIZED TO CARRY OUT SUCH SALE, DISPOSAL AND CONVEYANCE WITHIN THE 6 MONTHS FOLLOWING SUCH APPROVAL PURSUANT TO AN AGREEMENT CONSISTENT WITH THE FOREGOING? ___ YES ___ NO Section 3. The Board of Trustees may submit additional ballot questions or other referred measures to appear on the ballot of the April 4, 2006, regular municipal election by the adoption of an appropriate resolution or ordinance as required by law. Section 4. The officers and employees of the Town are hereby authorized and directed to take all necessary and appropriate actions to effectuate the provisions of this Resolution in accordance with Colorado law. Section 5. The Town Clerk shall certify to the passage of this Resolution and make not less than one copy of the adopted Resolution available for inspection by the public during regular business hours. INTRODUCED, READ, ADOPTED, and APPROVED this 9th day of March, 2006. .... •<row;···• ... ... . \_SEAL_/ TOWN OF FIRESTONE, COLORADO By:~~/~ Michael P. Simone, Mayor ) ...__ "'fir?1~ cly He d, own Cler 3 EXHIBIT A [legal description] 4 ,._ 1M' .... / .. sci:: ' .._ NW C0R. S[C. 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ICC ti :;_) l00'2D'U"( -u• J ' -------------.J ------------- . ·~ ~ ~ ' I I ~~ -~ t i "' • ~TW Nia, r. r...c avo. fl'&. 11 I~, ! al ' j LEGACY TRAIL ANNEXATION ~•~1-, ~ i,:P:, -~ 1. ::t ~ ~ ANNEXATION MAP 2 8;;;" 11-------.:=;--------l l,O t · g .. ~ ! Ctrr or DACONO lm'ZO'u"t 1..- V> ~~ ,> >: -"' " -) I u ' . ~ s ! } I ' _ _... UJ1_.f Lu.rs,/1,-./',R'c.tl 11\!J~~ lliic. Ill! n .......... , ..... l,o ·-·--ta= (JOJl Hl-41101 PANORAM INDUSTRIAL PARK SUBDIVISION ICICl'IO''ll"t l»a.)11' >: ~~ ,, . >: -"' " -) 1 I t ~ IJa.N' ""'"""' c.:t;;-..r.:.r-A. "' ':': '.:. 1-800-922-1987 ....::...--r~..::... l _., __ (IN __ -FIGl'tll.lO<(IN-Dffl' AtU,1$1'1C,ll.Q ___ , RESOLUTION NO. (J 0 -0 7 A RESOLUTION APPROVING AGREEMENTS WITH TST, INC. CONSULTING ENGINEERS FOR CONSTRUCTION MANAGEMENT AND CONSTRUCTION STAKING SERVICES FOR TIIE AT- GRADE WATER TANK. WHEREAS, the Town of Firestone intends to undertake construction ofan At-Grade Water Tank; and WHEREAS, agreements have been proposed between the Town and TST Inc. Consulting Engineers for construction management and construction staking services related to such project NOW, TIIEREFORE, BE IT RESOLVED BY TIIE BOARD OF TRUSTEES OF TIIE TOWN OF FIRESTONE, COLORADO: Seering J The proposed Agreement for Professional Engineering Services between the Town and TST, Inc. Consulting Engineers for construction management and construction staking services for the At- Grade Water Tank project (Project No. 0668.0128.01) is hereby approved in essentially the same form as the copies of such Agreement accompanying this resolution. Seering 2 The Mayor is hereby authorized to execute the Agreements, and is further authorized to negotiate and approve on behalf of the Town such revisions to the Agreements as the Mayor determines are necessary or desirable for the protection of the Town, so long as the essential terms and conditions of the Agreements are not altered. INTRODUCED, READ, and ADOPTED this 9--lli day of 'tJ7 a,u::.,h , 2006. ~ TOWN OF FIRESTONE, COLORADO Michael P. Simone Mayor I RESOLUTION NO. Qfo-0 J' A RESOLUTION APPROVING AGREEMENTS WITH TST, INC. CONSULTING ENGINEERS FOR CONSTRUCTION MANAGEMENT AND CONSTRUCTION STAKING SERVICES FOR THE TANK SUPPLY 12" WATER LINE. WHEREAS, the Town of Firestone intends to undertake construction of an Tank Supply 12" Water Line to service the At-Grade Water Tank; and WHEREAS, agreements have been proposed between the Town and TST Inc. Consulting Engineers for construction management and construction staking services related to such project NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF TRUSTEES OF THE TOWN OF FIRESTONE, COLORADO: Section 1 The proposed Agreement for Professional Engineering Services between the Town and TST, Inc. Consulting Engineers for construction management and construction staking services for the Tank Supply 12" Water Line to service the At-Grade Water Tank project (Project No. 0668.0127.01) is hereby approved in essentially the same form as the copies of such Agreement accompanying this resolution. Section 2 The Mayor is hereby authorized to execute the Agreements, and is further authorized to negotiate and approve on behalf of the Town such revisions to the Agreements as the Mayor determines are necessary or desirable for the protection of the Town, so long as the essential terms and conditions of the Agreements are not altered. INTRODUCED, READ, and ADOPTED this CJ ...JI. day of 'ff] a.A....di 2006. TOWN OF FIRESTONE, COLORADO Michael Y. Simone Mayor 1 RESOLUTION NO. 0 0-09 A RESOLUTION APPROVING A PRELIMINARY PLAT AND PRELIMINARY DEVELOPMENT PLAN FOR FIRESTONE CROSSING WHEREAS, there has been submitted to the Board of Trustees of the Town of Firestone a request for approval of a preliminary plat and preliminary development plan for Firestone Crossing subdivision; and WHEREAS, all materials related to the preliminary plat and preliminary development plan have been reviewed by Town Staff and the Firestone Planning and Zoning Commission and found with conditions to be in compliance with Town of Firestone subdivision and zoning ordinances, Development Regulations, and related Town ordinances, regulations, and policies; and WHEREAS, the Firestone Planning and Zoning Commission held a properly noticed public hearing on the proposed preliminary plat and preliminary development plan and has forwarded to the Board of Trustees a recommendation of approval, with conditions; and WHEREAS, the Board of Trustees has duly considered the proposed preliminary plat and preliminary development plan and has held a properly noticed public hearing on the application; and WHEREAS, the Board of Trustees finds that the proposed preliminary plat and preliminary development plan for Firestone Crossing should be approved subject to certain conditions. NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF TRUSTEES OF THE TOWN OF FIRESTONE, COLORADO: Section ] . The Board of Trustees hereby approves the proposed preliminary plat and preliminary development plan for Firestone Crossing, subject to the conditions set forth on Exhibit A, attached hereto and incorporated herein by reference. ,.d PASS ED AND ADOPTED this~ day of March, 2006. ATTEST: ~~oo,£J yHeod own Cler Michael P. Simone Mayor EXHIBIT A Preliminary Plat and Preliminary Development Plan Conditions of Approval Firestone Crossing General I. Cimarron Street is misspelled. Correct this and other typos. 2. Revise the legal description on all application materials to refer to Outlot J of the I st Rep lat of Outlots A, H, I, J & N, Booth Farms, Second Filing. 3. Provide an updated title commitment for the property showing current ownership. 4. Provide documentation that the property has been included in the Frederick-Firestone Fire Protection District. 5. Provide an updated tax certificate. 6. Provide a copy of the Declaration of Reciprocal Easements and Restrictions referred to under the Private Maintenance and Enforcement and Controls blocks. 7. Provide a copy of the 25-foot access and utility easement shown on the preliminary plat with reception number 3226147. 8. Provide sheet titles for all sheets in the information block. 9. Remove all references to County roads; use Firestone street names instead. Preliminary Plat I 0. Correct the Legal Description on the plat to refer to Outlot J of the I st Replat of Outlots A, H, I, J & N, Booth Farms, Second Filing. 11. The access easement into High Plains Marketplace to the east and the access easement into Booth Farms 2nd Filing, Outlot H to the west should be shown and labeled on the plat to verify that the accesses into the Firestone Crossing PUD line up with existing accesses. 12. The emergency access easement into Booth Farms, 2nd Filing, Outlot I to the south should be shown and labeled on the plat. 13. Include the following Lender's Consent on the Preliminary Plat: I ,ender's Consent 2 The undersigned, _____________ _, a Colorado Banking Association, as the beneficiary of a deed of trust recorded at Reception No. _____ _, Weld County Clerk and Recorder, which constitutes a lien upon the property depicted on the accompanying plat, hereby consents to this plat, subordinates its said lien to the declaration of covenants and other Colorado Common Interest Ownership Act documents, consents to the dedication of the streets, alleys, roads, easements, outlots and other public uses, as shown on this plat, and forever releases said lands from the lien created by said instrument. (Name of Lender) Date: __________ _ (Signature) (Title) Address:. _________ _ 14. Remove "Outlot J" label from the middle of the plat. 15. Remove land use site plan from Lot 7. PDP 16. Include an owner acceptance block and notary acknowledgment as follows: Acceptance Black and Notary By signing this PDP, the owner acknowledges and accepts all of the requirements and intent set forth herein. OWNER STATE OF COLORADO ) )SS COUNTY OF WELD ) The foregoing instrument was acknowledged before me this day of ___ _, 2_, by __________________ _ Witness my hand and official seal. Notary Public My commission expires: _____ _ 17. Correct the acreage for Outlot J. 18. Rename the project data block "Land Use Table." 19. Include water demand calculations pursuant to requirements of the Town Engineer. 20. Include the following in the parking statement: "Internal landscaped islands shall be provided in accordance with the Town of Firestone requirements." Revise PDP to show typical island standard and locations. 21. Revise the PDP to show Mountain View Retail Subdivision in a lighter shade than Firestone Crossing. Revise the text labeling the lots within Mountain View Retail Subdivision to a shade lighter than Firestone Crossing. 22. Include elevations for all proposed structures and improvements; use actual proposed elevations if known at this time; otherwise, use typicals. 23. The PDP and Preliminary Plat identify different owners of the property; revise the documents so that they are consistent and identify only the current owner. 24. The access into this site from the adjacent property shown on t)1e PDP also needs to be shown on the preliminary plat. The applicant must provide a copy of the access and utility easement granted by this adjacent property owner and the recording information should be shown on the plat and PDP. 25. Label the conceptual buildings as such on sheet 2. 26. Label the elevation shown and lot layouts as conceptual only and subject to final development plan for each lot. 27. Remove references to landscaping that do not relate to the overall development. 28. Remove note I on landscape plan indicating trees shown are to be installed with individual lot improvements. Pceliroinaey Utility Plans and Iecbniral Oocuroents 29. Modify the Preliminary Utility Plans and other technical documents pursuant to comments from the Town Engineer. Additional Conditions 30. Modify access plan pursuant to comments from Town Engineer. )fJJ/1006 12:S) PM (afl) Y:\F~~pPp.TB.ra.doc 4 RESOLUTION NO. Ola-I 0 A RESOLUTION APPROVING AND ADOPTING A REVISED STREET SECTION FOR THE TOWN OF FIRESTONE DESIGN CRITERIA AND CONSTRUCTION SPECIFICATIONS MANUAL FOR DEVELOPMENT PROJECTS WITHIN THE TOWN OF FIRESTONE WHEREAS, state law, including but not limited to sections 31-23-201 et seq., 31-23-301 et seq., and 24-67-101 et seq., C.R.S., authorize the Town to adopt regulations governing the zoning, subdivision, and development of land within the Town's jurisdiction; and WHEREAS, pursuant to such laws, the Town has adopted zoning, subdivision, and development regulations as codified in the titles 16 and 17 of the Firestone Municipal Code and in the Firestone Development Regulations, as amended; and WHEREAS, pursuant to such laws and ordinances, the Town Board has adopted the Town of Firestone Design Criteria and Construction Specifications Manual (the "Manual"); and WHEREAS, the Town desires to adopt a revised street section for the Manual. NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF TRUSTEES OF THE TOWN OF FIRESTONE, COLORADO: Section 1. The revised street section attached hereto as Exhibit A is hereby adopted and made a part of the Town of Firestone Design Criteria and Construction Specifications Manual (the "Manual"). A copy of which Manual, as hereby amended, shall be placed in the Office of the Town Clerk together with a certified copy of this Resolution. Section 2. All applicants for subdivision, zoning, rezoning or development shall be advised as to the existence of the Manual, and a copy thereof shall be made available to such applicants. Section 3. The street section approved and adopted by this Resolution is intended to and shall replace any prior versions of the Town's street section, and such prior versions are hereby repealed. However, such repeal shall not release, extinguish, alter, modify, or change in whole or in part any penalty, forfeiture, or liability, either civil or criminal, which shall have been incurred under such prior regulations or amendments thereto, and each provision thereof shall be treated and held as still remaining in force for the purpose of sustaining any and all proper actions, suits, proceedings, and prosecutions for the enforcement of the penalty, forfeiture, or liability, as well as for the purpose of sustaining any judgment, decree, or order which can or may be rendered, entered, or made in such actions, suits, proceedings, or prosecutions. Section 4. If any portion of the Manual amended by this Resolution is held to be invalid for any reason, such decision shall not affect the validity of the remaining portions of such Manual. The Town Board hereby declares that it would have approved and adopted such Manual and each part thereof irrespective of the fact that any one part be declared invalid. A rd INTRODUCED, READ, and ADOPTED this ;;)3 day of /')'l /:f/?CH 2006. ••. •··· rowru···• ... .. ... , SEAL ) ··..... . ... ·· w oo-Jl TOWN OF FrRESTONE, COLORADO Michael P. Simone Mayor OJ/lJ/2006 4:)5 PM (kkh] f:\Company\Fircstone\Resolution\Design&.ConstructiQIIMamml (street scction).doc 2 Exhibit A Revised Street Section 3 ~------------------------------------------------------------------------------------------' ' ' ' ' ' ' ' ' ' ' ' ' ' ' ' ' • I 4• -· ' I ,_ I 2.33' - 0 ~ ~ --s· I I TOWN OF FIRESTONE RESIDENTIAL (il!O ON-STREET PNIKIN(J) 413" R.C.'11. I w w w z z w 3 :5 :s 3 J i w ! w li5 ~ iil --10· 10·--· ~-I -· i__ 4· 28' Fl.-F"L ' I RESIDENT/Al. {WffH PARK/Ne} 54' R.0.W. _, -2.s.;· 1_ w w '5 3 ~ _, J ~ ~ ~ ~ "' ~ ii 10· 10· . e· --· 36' FL-fl I I l'IIOl'OS[Dl!NSDIIU iim RESIDENTIAL. ..-.O,C09Tl~ STREETS ~------------------------------------------------------------------------------------------ 4 DRIVE-OVER CURB, GUTTER AND SIDEWALK N.T.S. 2' 6~ I _££__ /WHERE WALK ADJOINS A CURB IT SHALL BE ~ M1N CONSlRUCTtO 1/4 INCH ABOVE THE CURB. • {4-~~2 ~ ,,.-SLOPE siorwALK 10 cuRs-1/<1~ ro 1/2H PER n 1 1/2 -1--.J/ .· -. · •. • -,- 1 l/2" "J,,--,-m ·· · · .. , ..... · . ·· · ·• ··J ·~ -2~R. .··,J,1'• .. · ......... • •_t_ J ."• • ," •• • • i, >------4 M•M. 'I ~ .. ' . I ~ !' • • • N ' • • • • I • • .• -, _, • • • t . --1.. VERTICAL 6 INCH CURB, GUTTER AND SIDEWALK N.T.S. NOTE; JOINT SHALL BE cur I/ 4 TrilC><NESS Of' CONCRE'l"E INITIAf.L Y DUMMY JOINT FOR WALKS N. T.S. N.T.S. ---~~-~----------.-----· TOWN OF FIRESTONE CURB, GUTTER AND SIDEW.M.K DETAIL 5 P!!OP0$1D~llll ~ t---__ .. = liilll II 2 83, 4 / PROPERTY OR ~------~=~-----EASEM~NT LIME (RESIDCtlllAL STREET) I +-----"'' "''"o· _____ .,..-~7 • ' I / INSTALL & MAH.'TAIN MS'ER 1 PIT COVER & STOP BO>: 1/2" CURB, cunER. 0.5' 1· ABOVE ADJACENT CROUr,o & SIOtwALr., I PAVEMENT~ \ =,.,.:..:_ __ .Q~-----..:_--...,-:'-- ~b&'-,:,XJ• ~ ~ ·······~·-:,. ,_, I 5,f' MIN. 66'" M,\X, I , 2.0· r-._CCRPORAl'IQ;I SlOP CURB BOX WITH ISTATIOllARf ROD IA(TER Pfl / (SEE APPROPPIAT( METER / PIT OITAIL) ,' ,· 15~ (I! J~·· ~\~=====::JQ-:·c====L.__J:= , '-._ CURB STOP I -WATER UAIN GENERAL NOrES: I F"OR 5/8-!NCH THROUGH 1-INCH SERVICES. USE DIRECT TAP AS SHOW~. 2. roR 1 1/2-INCH AND 2-INCH SERvlCES. INSTAU. WJTH TAPPED TEE At-:0 CORPORAT.ON STOP AT TIME OF CONSTRUCTION OR USE />. TAPPINt; SADDLE. 3. LOCAT!ON OF' CURB BO:-: A.'ID MITER P!T SHALL BE ACCOROltlG 10 APPROVED UHUlY DRAWINGS. 4 CtlY'S RESPOl'ISIBJlllY FOR WJNT(NANCE St-I.ALL BE Tt+C YIAT[R MAIN, CORPORAllOll STOP, SERVICE PIPINC UP TO AND INCLUO!HG THE CURB STOP. OWNER'S RESPONSlfMJTY SHALL BE f"ROI.I CURB STOP (INCLUDING lHE OUTLET COUPLING) TO THE BUILDING. 5 NO COUPUNGS SH,t,LL & ALLOWED BETWEOI CURB STOP AND MITER SCTTl::R. 6. SERVICE SHALL BE lYPE K COPPER FROM CORPOR.\TICN STOP TO 5-fEIT PAST !.ICT(R Pit (M!ll!MUM). RESOLUTION NO. Of,-; I SERIES2006 A RESOLUTION APPROVING A SPECIAL USE PERMIT FOR MACHII-ROSS PETROLEUM CORPORATION TO LOCATE AN OIL AND GAS WELL WITIDN THE TOWN OF FIRESTONE. WHEREAS, Machii-Ross Petroleum Corporation (hereinafter "Machii-Ross" or "Applicant") has submitted to the Board of Trustees of the Town ofFirestone an application for a special use permit to locate within the Town an oil and gas well referred to as the proposed Miller 43-171 Well; and WHEREAS, Machii-Ross has submitted the application and supporting materials pursuant to Chapter 15. 48 of the Firestone Municipal Code; and WHEREAS, all materials related to the proposed special use have been reviewed by Town Staff and found with conditions to be in compliance with Town of Firestone subdivision, zoning, and oil & gas ordinances, Development Regulations, and related Town ordinances, regulations, and policies; and WHEREAS, the Firestone Planning and Zoning Commission on April 5, 2006 held a properly noticed public hearing on the proposed special use permit application, and has forwarded to the Board of Trustees a recommendation of approval with conditions; and WHEREAS, after a duly-noticed public hearing, at which evidence and testimony were entered into the record, the Board of Trustees finds the special use request for the proposed Miller 43-171 Well should be approved subject to certain conditions. NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF TRUSTEES OF THE TOWN OF FIRESTONE, COLORADO: Section I The Board of Trustees hereby approves the special use permit request of Machii- Ross Petroleum Corporation for location of the Miller 43-171 Well within the Town of Firestone, in the location more particularly described in Exhibit A attached hereto, subject to the following conditions: I. The production facilities, as developed or modified, shall be of a low profile style, with a maximum height not to exceed twelve (12) feet. 2. The Town's special use approval shall expire on the date of expiration of the Oil and Gas Conservation Commission's initial Permit to drill the well or one year from the date of Town approval, whichever is later, if operations for the well are not commenced by such date. In the event special use approval expires, the Applicant shall apply for a new special use permit pursuant to Chapter 15.48 of the Firestone Town Code. 3. Oil and gas operations shall be conducted in compliance with all federal, state, and local laws, rules and regulations, including but not limited to the Colorado Oil and Gas Conservation Commission permit for such well and the final special use permit application materials approved by the Town Board, which materials will be incorporated therein by reference. Applicant shall provide to the Town copies of all state approved permits, waivers, variances and subsequent notices filed with the state and affecting the well. 4. Prior to entering the site, Applicant shall obtain from the Town necessary building permits and notices to proceed. 5. Prior to moving the drilling rig onto the well site, Applicant shall obtain from the Town and Weld County necessary permits to move the drilling rig equipment within the Town and County. 6. Applicant shall provide to the Town copies of any executed surface damage agreements or memoranda thereof respecting operation of the well. 7. In the exercise of its rights pursuant to this special use approval, Applicant shall avoid any damage or interference with any Town installations, structures, utilities, or improvements. Applicant shall be responsible for all damages to such interests of the Town that are caused by the Applicant. 8. Applicant at its sole expense shall control fugitive dust at the well site and on access roads on an as-needed basis. Methods and chemicals used for dust control shall comply with Town ordinances and regulations. 9. The oil/gas well facilities shall utilize setbacks as specified in the Colorado Oil and Gas Conservation Commission Rules and Regulations. The well site and tank battery and separator areas shall be secured and screened by chain link fencing with "solid" tan aluminum or vinyl lathing. I 0. Water sources for drilling activities shall be from the Town of Firestone, if a water tap is utilized. 11. Machinery at the site shall be well-oiled and well-maintained to mitigate noise. 12. To the extent reasonably possible, orient the drill rig and associated motors and exhaust systems such that they point away from existing residences in the vicinity. 2 13. Drill rigs shall, to the extent reasonably possible, be equipped with higher quality noise reducing mufflers. 14. During drilling, use a tarp around drilling floor and drawworks to muffle sound. 15. Deliveries and construction traffic to and from the site shall, whenever possible, be scheduled during daylight hours. 16. To the extent reasonably possible, keep the door to the drill rig engine closed. 17. Revise plans to conform to red line comments of the Town Engineer. 18. The use of pump jacks shall be limited to those running on electric motors. 19. The drilling rig used for drilling operations shall be Model CAZA-54 or equivalent type of drill rig. 20. Pursuant to Section 15.48.040.C.4 and 6 of the Firestone Municipal Code, provide evidence that the proposed emergency response plan and fire protection plan are acceptable to the appropriate fire district. 21. Revise Site Plan map to provide additional detail. PASSED AND ADOPTED this J.... 7 day of_lf;?~_,:_,~·/_~, 2006,,,...------.. !~ 11? \ SEAL ) ;,~.. / !:) :,<· ··... .... ~ 'v.·· ......... •··,;:,<i, Michael P. Simone Mayor ATTEST: <"{,J··,···v rS}'\; I:, I , '-' ••• 3 EXHIBIT A: Well Location The legal description for the Miller 43-l 7J Well is the NE/4 SE/4 of Section 17, Township 2 North, Range 67 West, 6°' P.M. The proposed surface location for the Miller 43-17J Well is approximately 2010 feet from the south line and 610 feet from the east line of Section 17, Section 17, Township 2 North, Range 67 West, 6°' P.M. 4/JM006 7:26 AM(lckhJ S:\F~one\Subdivisions\MachiiRoss.SUP .TB~.doc 4 RESOLUTION NO. 06-j c).._ A RESOLUTION AMENDING THE 2005 BUDGET BY INCREASING THE REVENUES AND APPROPRIATIONS IN THE GENERAL, STREET AND HIGHWAY, DEBT SERVICE AND TA VAS (TRI AREA VOLUNTEER AMBULANCE SERVICE) FUNDS; BY CREATING A SEPARATE FIRESTONE FINANCE AUTHORITY FUND; AND BY TRANSFERRING REVENUES TO AND MAKING AN APPROPRIATION WITHIN SUCH FIRESTONE FINANCE AUTHORITY FUND. WHEREAS, the Board of Trustees of the Town of Firestone on December 9, 2004 adopted a budget for the 2005 calendar year, pursuant to and in accordance with the Local Government Budget Law; and WHEREAS, by Resolution No. 04-58, the Board of Trustees on December 9, 2004 appropriated sums of money to the various funds and spending agencies, in the amounts and for the purposes set forth in such Resolution, for the 2005 budget; and WHEREAS, during 2005 the board implemented items from the provisional budget and authorized lease financing arrangements that must be appropriated by Local Government Budget Law; and WHEREAS, the Town's auditor has also recommended certain revisions to the 2005 budget, as previously amended, in order to comply with certain GASB accounting requirements concerning recognition of developer improvements and contributions to the Town; and WHEREAS, based on the foregoing, a need exists to appropriate additional sums of money in the General, Street and Highway, Debt Service and TA VAS Funds; to create a separate Firestone Finance Authority Fund, and to transfer revenues to and make an appropriation within such Firestone Finance Authority Fund; and WHEREAS, the Board of Trustees has published notice of and held a hearing upon the supplemental appropriations, amendment and transfer authorized by this Resolution. WHEREAS, the amended 2005 budget, as revised by this Resolution, remains in balance as required by law. NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF TRUSTEES OF THE TOWN OF FIRESTONE, COLORADO: Section 1. That the 2005 General Fund appropriation is hereby increased from $3,345,211 to $3,385,211, such supplemental appropriation being for the acquisition ofa police vehicle as approved by the Board of Trustees. Section 2. That 2005 revenues and appropriations in the Street and Highway Fund are each hereby increased by $135,000 such amounts corresponding to developer contributions or public improvements that have received final acceptance, and such amounts being shown pursuant to GASB requirements for financial statement reporting purposes. Section 3. That 2005 appropriations in the TA VAS Fund are each hereby increased by $150 such amounts corresponding to account for payments made by the Tri Area Volunteer Ambulance Service for such operational needs in 2005. Section 4. That within the 2005 budget a special fund is hereby created, entitled the Firestone Finance Authority Fund, corresponding to the activity by the Firestone Finance Authority, as authorized by the Board, to. issue a Certificate of Participation for Firestone Central Park acquisition and to make lease-rental payments, and such amounts being shown pursuant to GASB requirements for financial statement reporting purposes. Section 5. That for 2005 there is hereby appropriated to such "Old Hire" Pension Trust Fund for 2005 expenditures in the amount of $16,000 corresponding to the pension payments, as authorized by the Board, and such amounts being shown pursuant to GASB requirements for financial statement reporting purposes. 2006. INTRODUCED, READ AND ADOPTED this al 7-tr-. day of ~A-'-Fp~t~i~'--~ .-.... ~QWM ···· •.. : .. 1.Yfl,;-\L ... .---- ~:fa~ Town Clerk Michael Simone Mayor 2 ,COLORADO Firestone A Community In Motion FINANCE DEPARTMENT MEMORANDUM Date: August 21, 2006 To: Town Administrator & Town Board From: Wesley Lavanchy, Finance Director Re: Final 2005 Appropriation Please find attached a copy of the resolution for the final budget appropriation for 2005. As you are aware a municipality may amend their budget by appropriating sums of money any time prior to accepting the audited financial statements. Below is staff's recap of the budget appropriation request: • General Fund -$40,000.00 During 2005, the Board approved the purchase of a police car from the 2005 provisional budget for an amount not to exceed 45,000. This was purchase was to be made from sales tax proceeds which were in excess of the budget. • Highway & Streets Fund -$135,000.00 This is recognition of non-cash developer contribution in the form of public improvements at final acceptance. According to General Accepted Accounting Principals and the Governmental Accounting Standard Board, these items must be passed through the Town's financial statements as revenues and expenses. Colorado law requires that the governing board must approve all expenditures. Because these items are not known at the beginning of the budget cycle, the Town makes a provision to amend its budget prior to accepting the audited financial statements. • Firestone Finance Authority Fund -$2,040,000.00 During 2005, the Board approved the financing, purchase and lease/rental payments for the Kugal property (a.k.a. Firestone Central Park). In discussing this agreement and financing with the auditor and finance committee last year, it was determined that transactions involving the finance authority should be accounted for in a separate fund for transparency. According to General Accepted Accounting Principals and the Governmental Accounting Standard Board the financing and purchase must be accounted for in the financial statements as revenues and expenses. This amount also includes issuance cost and first year lease/rental payments. The revenues are the Certificate of Participation issued for $1,985,000 and a transfer from CIP as originally appropriated to the General Fund for the lease payment. • Old Hire Pension Plan -$16,000.00 This is a fiduciary fund. For 2005, the Town did not budget for the payment and fees for this pension plan. The payment is to be made from the Town's contribution of8,500 and the plan's escrow based actuarial calculations. According to General Accepted Accounting Principals and the Governmental Accounting Standard Board this transaction must be accounted for in the financial statements as revenues and expenses. • TA VAS Historical Research Fund-$150.00 This a fiduciary fund for the Tri Area Volunteer Ambulance.Service historical preservation efforts. For 2005, the Town did not budget for the purchase of supplies by this fund, as it was not aware of the need to do so. The revenues are the deposits held in escrow for such activity. • Debt Service Fund -$1000.00 This fund makes debt service payments for the general obligation debt used to construct the current administrative building. For 2005, the Town did not budget enough for debt service and administrative fees. The revenues are the dedicated property taxes collected for this payment. This budget resolution appropriation will be reviewed by the finance committee prior to the Board meeting on April 27 th • If you have any questions about the information provided, please feel free to contact me. 2 TOWN OF FIRESTONE APPROPRIATIONS NO.3 2005 ' Curren1-f-1ncrease/ +Amendeu ' Descrietion I Budget (Decrease} Budget Comments GENERALFO_N_D ' I Rovenues· I I Sales Tax 1 000,000 s 100000 t 1100,000 Increase in Sales Tax Collection Total Revenues s 100000 I Exnenditures: Pub! C Safetu I I Public Safety Vehicles (1} I 40,000 I 40000 2005 Provisional Budget -Implemented bY. the Town Board Sub-total Public Safetv I 40000 I I I Total Expenditures I 40 ooo I I I Una~propriated Reserves I 60.000 I HIGHWAY & STREETS FUND I I Rovonues: Caeital Non-Cash Contributions I ., 135000 I 135,000 IGAAP/GASB Audit Adjustment to the Financial Statements I Total Revenues I 1350001 1 Non Cash Sagebrush & Oak Meadows Developer Improvements I I I I I ElDOndlturos· C1t-l'rO .. I I Ceeital Non-Cash Contributions 1350001 135000 GAAP/GASB Audit Ad'ustment to the Financial Statements I I Non Cash Sagebrush & Oak Meadows Developer Im vements Total Ex~ndltures I 135.000 I I I End! Mesorvos· I ' Unappropriated Reserves I -1 FIRESTONE FINANCE AUTHORITY FUND Revenues· I I COP Proceeds I 1985,000 I 1985,000 Proceeds from Vallev Bank Transfers In I 60000 I 60.000 Transfer from CIP. Park lmoact tOriginaltv slated to transfer to GF for I 2045,000 I debt payment) I I E,:riendiluros: Ro,.1ona1 Pa"' ac• i:e ... Payment on Lend 1 900,000 1 900000 ActivilV to occur in the new FFA Fund Issuance Financinn & Surve11 Cost 91000 91,000 Activi!}'. tO occur in the new FFA Fund Debt Pe ent !First Veen 49000 49000 Activilv to occur in the new FFA Fund Total Ex0ondlturos I 2.040,000 I I I Fund Betance· I I Unee,e!_opriated Reserves I 5,000 I NOLD HIRE" POLICE PENSION FUND. FPPA Revenues· Contributions ., 8500 I B.500 Contributions made bv the General Fund for the Plan based on the Net Interest Eerings . I 3 700 l 3700 most recent actuarial celOJletions Total Revenues I 12 200 I E,:nendlturos· I •• ents 16000 I 16,000 Annual DB)'!!!ents to retiree Total Expenditures 16 ooo I I fund Balance· I Unappropriated Reserves I 1380011 TAVAS RevenueA· I I _, -I I Total Revenues I I -I I I I I Exnondilums· I I I Transfer: Contribution PaJ1( Fund • Finance Cost I 150 I 150 Suoolies for Historic Social r their reouest -I I Total Exnend!tures I 150 I '1-und Balance: I """ priated Reserves I {150!1 DEBT SERVICE FUND Revenues· T otet Revenues Exoendilures: I I Administrative Debi Fees 1 000' These were not budgeted for in 2005. We have sufficient Fund Balance Total Expenditures I 1 ooo I from e!!!!Y. taxex collected. ' Fund Btllance· I I UnaeP~l,l"ated Reserves I j1.000)I_ RESOLUTION NO. O(Q-l3 A RESOLUTION APPROVING AN ENGAGEMENT LETTER WITH WATKINS & SCHOMMER, INC. FOR AUDIT SERVICES WHEREAS, pursuant to the Colorado Local Government Audit Act, C.R.S. § 29-1-601 et seq.., the Town of Firestone is required to prepare and file an annual audit; and WHEREAS, the Board of Trustees desires to approve a proposed engagement letter with Watkins & Schommer, Inc. for audit services. NOW THEREFORE, BE IT RESOLVED BY THE BOARD OF TRUSTEES OF THE TOWN OF FIRESTONE, COLORADO: Section ]. The proposed engagement letter between the Town of Firestone and Watkins & Schommer, Inc., for audit services for the fiscal years ending December 31, 2006, 2007 and 2008, is hereby approved in essentially the same form as the copy of such letter accompanying this resolution. The Mayor is hereby authorized to execute the engagement letter on behalf of the Town. Section 2. All financial obligations of the Town under the engagement letter are subject to annual appropriation of funds in the sole and absolute discretion of the Board of the Trustees of the Town, and nothing herein or in such letter is intended or shall be construed to create any multiple-fiscal year direct or indirect Town debt or fiscal obligation whatsoever. INTRODUCED, READ, and ADOPTED this o2.7-tl\day of Apri \ , 2006 . ... -···· row:>-.. • •v \ Sg;;A.l ····.... . .... ··• Mayor ATTE ~tit~~ own Clerk Firestone A Community In Motion FINANCE DEPARTMENT MEMORANDUM Date: April 21, 2006 To: Town Administrator & Town Board From: Wesley Lavanchy, Finance Director Re: Audit engagement Please find attached a copy of both the audit engagement letter from Watkins & Schommer, Inc and the resolution to approve the agreement for your review. Each year our auditor, Dan Schommer, provides The Board with an engagement letter for the following year. Staff is recommending that we enter into a three- year arrangement with Watkins & Schommer for audit services for the years ending 2006, 2007 & 2008 pursuant to terms of the agreement based on the following: o An audit engagement should be an independent matter separate from the audit report and presentation so long as the terms of the engagement are met. o Multi year engagements provide a measure of independence that you need from your audit firm so long as the terms of the engagement are met. o Dan has provided the Town of Firestone with consistent, professional audit services for a number of years and is intimately familiar with the Town's financial condition and history. · o The Town is in the second year of its GASB 34 presentation implementation and he has provided very reliable work in helping us make this smooth transition. o Watkins & Schommer is one of the few firms where the partner is actually in the field performing the audit. He performs the work and signs the audit. This is very rare. In fact, his peer reviews note that he spends more time in the field and performing more work than is actually required. This is actually a good thing for us. o Dan's fees are very reasonable. Most firms would charge well in excess of those listed to complete the audit process and work that Dan does. The finance committee has reviewed the matter. Jfyou have any questions about the information provided, please feel free to contact me. I ' WATKINS & SCHOMMER, INC. Certified Public Accountants 1220 11TH AVENUE, SUITE 200 GREELEY. COLORADO 80631 (970) 352-1700 April 5, 2006 Town of Firestone P.O. Box 100 Firestone, Colorado 80520 LEE WATKINS DAN SCHOMMER We are pleased to confirm our understanding of the services we are to provide for the Town of Firestone for the years ended December 31, 2006, 2007 and 2008. We will audit the financial statements of the Town of Firestone as of and for the years' ended December 31, 2006, 2007, and 2008. Our audits will be made i_n accordance with generally accepted auditing standards and will include tests of the accounting records of the Town of Firestone and other procedures we consider necessary to enable us to express an unqualified opinion that the financial statements are fairly presented in conformity with generally accepted accounting principles consistently applied. If our opinion is other than unqualified, we will fully discuss the reasons with you in advance. Our procedures will include tests of documentary evidence supporting the transactions recorded in the accounts, and may include tests of the physical existence of inventories, and direct confirmation of receivables and certain other assets and liabilities by correspondence ·with selected customers, creditors, and banks. We will request written representations from· your attorneys as part of the engagement, and they may bill you.for responding to this inquiry. At the conclusion of our examination,·we will also request certain written representation·s from you about the financial statements and related matters. · An audit is based primarily on. the selective testing of accounting records and re~ated data; therefore, o'ur audit·will involve judgment about the number of transactions to be examined and the areas to be tested. Because we will not 'pe'rform a detailed examination of all transactions, there is a risk that material errors, irregularities, or illegal acts, including fraud or defalcations, may exist and not be detected by us. We will advise you, however, of any matters of _that nature that collie ·to our attention. Our responsibility as auditors. is limited to the period covered by our audit and does not extend to any losses that might be incurred during any later periods for which we are not engaged as auditors.· we underst?nd that you· will provide us with the basic information required for our audit and that you.are responsible for the accuracy and completeness of that information. we will advise you about appropriate accounting· principles and their applic·ation and will assist in the ·preparation. of your financial statements, but th~ responsibility for .the financial statements remains with you.-This responsibility includes the maintenance of adequate records and relate~ controls, the selection and application of accounting principles, and the safeguarding of assets. MEMBERS OF THE AMERICAN INSTITUTE OF CERT!FIED PUBLIC ACCOUNTANTS ( Our examinations are not specifically designed and cannot be relied -on to disclose material weaknesses in accounting controls. However, during the audits, if we become aware of such material weaknesses in internal accounting control or ways that we believe management practices can be improved, we will communicate them to you in a separate letter. We expect to l:;>egin our audit during March or April of each year and to issue our report no later than sixty days from the day we receive your trial balances. . · ' Our charges for these services will be based on the time spent participating in the above engagement at our usual rates plus out-of-pocket expenses incurred, and will range from $5,500 to $5,900, not exceed $5,900 for each year. We understand this agreement is subject to an annual appropriation of funds for the audit annual by the Town Board. We appreciate the opportunity to be of service to the Town of Firestone and believe this letter accurately summarizes the significant terms of our engagement. · If you. have any questions, please let us know. If you agree with the terms of our engagement as described in this letter, please sign the enclosed copy and return it to us. Very truly yours, ,#/~ ,,._,/e.k,., .. ,,, ok. Watkins & Schommer,· Inc. Certified Public Adcountants RESPONSE: This· letter rstanding of the Town of Firestone. Title:_~~µ.:=~·'1-ACf::::u::=·--------------'---- Date: _· __ · __ .· _.,_(_-_· _'1,__.--...;:.V_l,._d¼-----~----~ RESOLUTION NO. 06-Jj_ A RESOLUTION APPROVING A FINAL DEVELOPMENT PLAN FOR CHASE BANK OF FIRESTONE ON LOT 7, OAK MEADOWS VILLAGE SUBDIVISION. WHEREAS, there has been submitted to the Board of Trustees of the Town of Firestone a request for approval of a Final Development Plan for Chase Bank of Firestone on Lot 7, Oak Meadows Village Subdivision; and WHEREAS, all materials related to the proposed Final Development Plan have been reviewed by Town Staff and the Firestone Planning and Zoning Commission and found with conditions to be in compliance with Town of Firestone subdivision and zoning ordinances, Development Regulations, and related Town ordinances, regulations, and policies; and WHEREAS, the Firestone Planning and Zoning Commission has held a properly noticed public hearing on the proposed Final Development Plan, and has forwarded to the Board of Trustees a recommendation of approval of such plan with conditions; and WHEREAS, the Board of Trustees has duly considered the proposed Final Development Plan, and has held a properly noticed public hearing on the application; and WHEREAS, the Board of Trustees finds that the proposed Final Development Plan for Chase Bank of Firestone should be approved subject to certain conditions. NOW, THEREFORE, BE IT RESOLVED BY THE TOWN BOARD OF THE TOWN OF FIRESTONE, COLORADO: Section]. The Board of Trustees of the Town of Firestone, Colorado, does hereby approve the Final Development Plan for Chase Bank of Firestone on Lot 7, Oak Meadows Village Subdivision, subject to the conditions set forth on Exhibit A, attached hereto and incorporated herein by reference. ..u,. INTRODUCED, READ, and ADOPTED this_)/_ day of u , 2006. ~~ ' Michael P. Simone ATTEST: Mayor .. . . ••••• • TOWN····• ... SF.·· ··· ... General EXHIBIT A Final Development Plan Conditions of Approval Chase Bank of Firestone I. Modify plans pursuant to comments from the Town Engineer, Town Planner and Town Attorney. 2. Define the Oak Meadows Village Overall Final Development as ("OFDP") and consistently use it when referencing the OFDP. 3. Identify locations and color of bollards. Color of bollards must be complimentary to the building, but provide a single reflective stripe. 4. Modify trees along Firestone Boulevard to include the same type of trees as provided in Firestone Center in addition to the Western Catalpa shown in the landscape plan. Add to the landscape plan low-growing evergreen trees or bushes, in locations approved by the Town Planner. 5. Identify landscaping that is to be constructed as part of the Oak Meadows Village Overall FOP. FDP Sheets I and 2 6. In the General Notes section, replace "prior to occupancy for the building", with "prior to issuance of Certificate of Occupancy". 7. In the Legal Description section, use the proper title of the subdivision. 8. Reference the "Overall Development Plan" as the "Overall Final Development Plan" and add a footnote that this map is for reference only and not a part of this application. 9. In the General Notes section, add "and the Oak Meadows Village Overall Final Development Plan" after "Oak Meadows P.U.O." I 0. Remove the reference to "l" in the Firestone Information Block. 11. In the Private Maintenance and Enforcement section, revise the text to read as follows: "This FOP will be maintained by the Owner of Lot 7 pursuant to this FOP and the Firestone 2 Municipal Code. Additionally, Lot 7 is subject to Covenants, Conditions and Restrictions of the Oak Meadows Village development." 12. In the Parking section, properly reference the Overall Final Development Plan of which this lot is a part. 13. Provide a copy of the easement referenced in the Parking section. 14. In the Utilities section, properly reference the title of the noted Utility Plans. 15. Remove "proposed" from the Signage Program section. Sheets3 16. Remove the word "Future" in the reference to the paved access road, and add language confirming completion of this improvement as part of this FOP. 17. Move the addressing information shown on Sheet 4 to Sheet 3 and remove Sheet 4. Sheets 7 18. Remove "proposed" from the bank building reference. Sheet I 5 19. Increase the size of the small descriptive text for the sign details as it is too hard to read. Additional Conditions 20. Add shrubs to the western portion of the lot. Add berms to the western portion of the lot if technically feasible and consider the use of ornamental grasses and rocks or boulders to add visual interest. 21. Increase all entrances into the site to 30 feet in width. 22. Identify location of bike racks. 05/03/20068:SS PM [Wi)S:\F~FDP.PC.n:s.doc RESOLUTION NO. 0/o-/S A RESOLUTION APPROVING A PRELIMINARY SUBDIVISION PLAT AND PRELIMINARY DEVELOPMENT PLAN FOR VOGL -SOUTH WHEREAS, there has been submitted to the Board of Trustees of the Town of Firestone a request for approval of a preliminary plat and preliminary development plan for the Vogl -South subdivision; and WHEREAS, all materials related to the preliminary plat and preliminary development plan have been reviewed by Town Staff and the Firestone Planning and Zoning Commission and found with conditions to be in compliance with Town of Firestone subdivision and zoning ordinances, Development Regulations, and related Town ordinances, regulations, and policies; and WHEREAS, the Firestone Planning and Zoning Commission held a properly noticed public hearing on the proposed preliminary plat and preliminary development plan and has forwarded to the Board of Trustees a recommendation of approval, with conditions; and WHEREAS, the Board of Trustees has duly considered the proposed preliminary plat and preliminary development plan and has held a properly noticed public hearing on the application; and WHEREAS, the Board of Trustees finds that the proposed preliminary plat and preliminary development plan for the Vogl -South subdivision should be approved subject to certain conditions. NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF TRUSTEES OF THE TOWN OF FIRESTONE, COLORADO: Section ] . The Board of Trustees hereby approves the proposed preliminary plat and preliminary development plan for Vogl -South, subject to the conditions set forth on Exhibit A, attached hereto and incorporated herein by reference. PASSED AND ADOPTED this~ day of m Ay ATTEST: Michael P. Simone Mayor ... •···· row";·•.\ Sf:4.l . ·•. ··... ,•· EXHIBIT A Preliminary Subdivision Plat and Preliminary Development Plan Conditions of Approval Vogl-South General 1. The vicinity map submitted as part of the application packet should have its scale labeled and include the proper information. 2. Provide copies of the schedule B documents identified in the title commitment. 3. Confirm that text and font sizes on the final plat are consistent with the requirement in the Regulations and remove references to Firestone Streets as County Roads. 4. Fix typos and add commas to lot square footage for those lots that are missing them. 5. At the time of application for the first final plat, provide for staff review draft declaration of covenants, conditions, and restrictions for the entire property. Preliminary Plat 6. Correct the legal description on the cover sheet as it differs from that shown on the map sheets in the following respects: • The first line of the fourth paragraph under "Ownership and Dedication" provides "North 89°09'38" East 1808.95;" the map shows "North 89°09'38" East 1809.15." • The third line of the fourth paragraph under "Ownership and Dedication" provides "South 00°23'23" East 871.23;" the map shows "South 00°23 '23" East 871.2." 7. Revise the Town approval block to reference a preliminary submittal. 8. Remove the "Owner Certificate" section and place the Firestone Information Block in the proper location on the Sheet and use the font size as specified in the Regulations. 9. Label the Outlot Table and place the following headings on the Outlot Table columns (from left to right): • Outlot • Acres • Ownership • Maintenance Responsibility • General Purpose l 0. Note that Outlot E shall be conveyed to the Town for school purposes pursuant to the Town's school lands dedication ordinance. 2 11. Revise the plat to identify whether adjacent land is platted; if so, include the name and reception number of adjacent platted subdivisions. Also, identify the record owners of oil and gas well heads and other oil and gas facilities on the plat map sheets. 12. Revise the plat to identify the dimensions for the proposed streets and use typical rights--of- way specified in the Regulations. 13. Clarify the boundary of Outlot D in relation to Outlot 8. 14. Revise the Surveyor's Certificate to read as follows: Surveyor's Certificate I certify that this plat accurately and propecly sbaws said subdivision and represents the results of a survey made by me or under my direct supervision, responsibility and checking, and done in accordance with applicable state of Colorado requirements. [ signature block to remain as it is] 15. Remove the lot size information table as such information is better shown on the PDP not the P. Plat 16. A number of lots do not meet the criteria in the Regulations, which states that in residential areas cul-de-sacs shall be a minimum of 40-feet at the right-of-way line and 50-feet for homes with 3-car garages. On the final plat, adjust lots so all meet the criteria in the Regulations. 17. Show information regarding any limitations on garages on the PDP. 18. Confirm that the cul-de-sacs do not exceed the length specified in 16. 7 .1 of the Regulations. PDP General 19. Incorporate relevant conditions from the preliminary plat section. 20. Provide e-mail addresses with the contact information of the owner/developer and the technical consultants. 21. In the first paragraph of the Project Concept section, remove the words "approval and an application for" and replace them with "and" Also, remove the words "is pending." 22. Outlot F, which is proposed as a centrally located 5-acre neighborhood park in the Project Concept section, is an inappropriate park dedication as the central portions of that area are encumbered by oil/gas facilities. The final plat should provide for an alternative park site. If Outlot F remains as a tract, then in the Project Concept section, note the net area of Outlot F after the 150-foot oil/gas well area is deducted. 23. In the Land Use section of the text, define "HOA" below the definition of"PLD." 24. In the Residential Densities and Public Land Dedication section, calculate gross density by including open space and PLO areas. 25. In the Residential Densities and Public Land Dedication section, remove references to "excess" public land dedication as there are "minimums", but not really "excesses." 26. The 28% number for open space should be adjusted given the uses for some of the tracts, including oil/gas well uses, etc. 27. Deduct the I 50-foot oil and gas setback area and detention pond area from the Outlot C area eligible for consideration as open space as noted in the PLO and Park/Open Space Summary table. 28. In the Private Maintenance and Enforcement section provide column titles. 29. If a trail is to be located in the drainage channel, in the Parks, Trails and Open Space section, describe the times that it is anticipated that this trail will not be usable due to drainage flows. Also, in this section, describe how the trail system in this project will connect to the trail system in Vogl-North. 30. In the Architecture section, move the paragraph before the Building Height section to the Private Maintenance and Enforcement section. 31. In the Setbacks section, specify a side setback for comer lots. 32. Create a Water Demand Calculations section. Pursuant to direction from the Town Engineer, provide a specific water demand calculation table relative to the land uses and site features proposed. 33. In the Drainage section, clarify the reference to the overflow swale on Sheet 12. 34. Add an Acceptance Block and Notary to Sheet I as specified in the Regulations. 35. Provide a Fencing Plan map sheet as specified in the Regulations. Move the Fence information from the Sign & Fence Program section to the Fencing Plan sheet. 36. Provide a Signage Plan map sheet as specified in the Regulations and move the signage information from the Sign & Fence Program section to the Signage sheet. 37. If there are planned oil/gas facilities for this site they should be described in the text and noted as conceptual only since all such facilities must obtain a special use permit from the Town. 38. Provide for an overall Trail plan as a stand alone sheet. 4 39. Provide an Address Map as specified in the Regulations. This sheet is referenced in the index for Filing I, but is not shown. 40. It is not clear on the PDP where the boundary is between Outlot Band 0. 41. Confirm all the documents referenced in the text are available in the Notebook for review. 42. Specify standards and setbacks for Accessory Buildings. Include standards for location, colors, materials, etc. 43. Identify parking that will be provided for the park. 44. Remove the sheet title from the title block at the top of the sheet 45. Revise the first sentence of the third paragraph under Project Concept as follows: "Primary access to the wsidential pm lions of the Vogl Land-North South P'ITCel will be provided from ... " 46. Revise the Land Use table to include separate categories for oil and gas facility setbacks and utility easements. 47. Revise the Residential Densities block to identify the minimum and maximum lot sizes in accordance with Regulation I 0.5.9. 48. Include a section on "Controls" that specifies how common open space will be developed and maintained. The language for this revision shall be subject to review and approval by the Town Planner and Town Engineer. 49. Revise the Development Schedule to include estimated dates for each proposed phase and for completion of improvements to common open space and public parks. 50. Remove references to the contractor approving site details. 51. Further clarify access to Outlot E. 52. Provide the following architectural specifications m the following format (noted m underlined comments below) on the FOP: • J)qiical Elevations Reference the "Typical Elevation" shown with the FOP and provide a general description of the types and styles being constructed. • Faur Sided Elevation Define a "Four Sided Elevation." This elevation would be used for the elevation 5 of a dwelling unit that is located along and highly visible on major arterials. Typically, these elevations include rock, stone, brick and windows with shutters and other architectural features. · • Enhanced Elevation Define an "Enhanced Elevation". This elevation would be used for the side yards of comer lots and other visible areas that are not as highly visible as where a Four Sided elevation would be located. • Front Elevation Note the minimum standards for the front elevations. Typically, specify the minimum amount of rock, stone or brick to be utilized on the front elevation (in percentage) and how such percentage will be calculated. Note how deep on the sides such material will be wrapped. • Elevation Table Create a table that identifies each lot in the subdivision and have three columns to its right that note the right elevations ( defined as the elevation to the right of the front door when looking at the front elevation) the left elevation, and the rear elevations. For any elevation that is "enhanced" use an "E" and for any elevation that is "4-Sided" note it as "4S". • Controls an Repetitive Models Provide language to assure that no two models that are the same will be located next to or across from each other or other such controls. • Siding Provide details on the siding being used. Specify that "cottage siding" 1s prohibited. Specify the net exposed width of the siding. ■ Porches Specify any standards related to permitted porches. • Eaves Specify that eave widths shall be as specified in the Regulations. • Roofs Specify limitations and standards on roofs. • Basements Specific information on basements and crawl spaces. Basements are preferred on all lots if technically feasible. • Walk-Outs Specify the lots that are permitted to have walk-out or walk-up units. 6 ■ Chimneys Specify limitations and standards for Chimneys. • Foundation Walls Specify what amount of foundation wall is permitted to be exposed and other associated standards. • Square Footage Specify a minimum square footage for single and multi-story dwelling units. Specify a maximum square footage for and permitted accessory buildings. • Building Height Specify a maximum building height for single and multi-story dwelling units. • Decks Specify limitations and standards on decks. • General Standards Reference the architectural standards in the Regulations and the Municipal Code as may be amended from time to time. Project Piao • 53. Identify the Project Plan map sheet as also a Tract Plan and a Phasing Plan (for this project, it appears all three types of sheets can be combined oo one sheet). 54. Provide a title for the table. Site Piao 55. Add a note in the Legend that clarifies that the arrow shown for comer lots indicates that the front of the house and driveway access and show the Legend on all Sheets. Also, clarify the Tenn in the Legend "Utility Setbacks" and remove the word "proposed" throughout (e.g. "proposed" light pole in the Legend). 56. Show the location and type of surfacing for streets, walkways, bikeways, parking lots and other paved areas. 57. It appears the trail corridor portions of Outlots B, E, F, H, I, and M are too narrow for an appropriate Trail corridor for the reasons noted above. 58. The term "Greenway" appears to be confusing, as it is used on distinctly different types of property. 59. Further describe access to Outlot L. 60. On the FDP, for the more narrow internal trail corridors, show the trails centered in the 7 corridor to maximize separation from the trail to the residential lot lines. 6 I. The way Outlot F is laid out creates an isolated pocket that does not appear to be an appropriate location for the noted neighborhood park. 62. The trail in Outlot C should extend to the north if possible. 63. Identify the scale of the overall site plan on Sheet 2 and overall grading plan on Sheet 9. 64. On the FOP, revise the site plan to identify the location of mailboxes and provide details for the mailboxes on the site details sheet. Grading Plan 65. Show the percent of grade on some of the steeper portions of the edge of the drainage channel, specifically showing the grade of the trail as it enters and leaves the drainage channel. Also, provide one or two cross sections across the drainage channel along where the trail is at the deepest point in the channel. Fencing Plan 66. Describe fencing restrictions along the internal lot corridors. 67. Describe when the noted security fence will be installed and by whom. Signage Plan 68. On the FOP, specify the type of address signs that will be used for each house and their typical location. I .andscape Plan 69. Include the lot number, sizes and dimensions for all residential lots. 70. Show the seeding plan for portions of Outlot E that will be disturbed. 71. Provide a statement of intent on the landscape plan as required by Regulation 8.9.5. 72. On the FOP, provide typical landscape details for front yards and rear yards. 73. Remove reference to "Filing I" from the Overall Landscape Plan. 74. Identify the methods, layout and phasing of irrigation facilities in the landscape plan. 75. At the time of FOP submittal, provide a native grass area report consistent with current Town policies and similar to the plan for Vogl -North. Additional Conditions 76. With the FOP application, provide project anticipated pedestrian and vehicular access to the school site when it is developed and add pedestrian connections on the east side of the school site. 77. Add a crosswalk for pedestrian connection from the school site to the pocket park. 78. Connect the trail on the west side of the site to Firestone Boulevard. 79. On the FOP, add a note that the roof on the pavilion will be "Firestone Green." 80. Change the note regarding ownership and maintenance of the school tract from the school district to the Town. 81. Provide an additional access point into the pocket park. 82. Provide an additional trail connection to the south. 83. On the FOP, clarify tree type designations and totals on the landscape plan. 84. Consider language that addresses the Town's future ownership of the pocket park. 04/19t.z006 J:17 PM (kkh) S:\Fircstone\Subdivisions\Vogl South.Prdims.PC.res.doc RESOLUTION NO. 06-J..k. A RESOLUTION APPROVING A FINAL DEVELOPMENT PLAN FOR THE DEL REY SUBDIVISION (AREAS I, 2 AND 3) WHEREAS, there has been submitted to the Board of Trustees of the Town of Firestone a request for approval of a final plat for the Del Rey Subdivision (Areas I, 2 and 3); and WHEREAS, all materials related to the proposed final plat have been reviewed by Town Staff and the Firestone Planning and Zoning Commission and found with conditions to be in compliance with Town of Firestone subdivision and zoning ordinances, Development Regulations, and related Town ordinances, regulations, and policies; and WHEREAS, the Firestone Planning and Zoning Commission has held a properly noticed public hearing on the application, and has forwarded to the Board of Trustees a recommendation of approval, with conditions; and WHEREAS, the Board of Trustees has duly considered the proposed final plat and has held a properly noticed public hearing on the application; and WHEREAS, the Board of Trustees finds that the proposed final plat should be approved subject to certain conditions. · NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF TRUSTEES OF THE TOWN OF FIRESTONE, COLORADO: Section ] The Board of Trustees of the Town of Firestone does hereby approve the proposed final plat for the Del Rey Subdivision (Areas I, 2 and 3), subject to the conditions set forth on Exhibit A, attached hereto and incorporated herein by reference. INTRODUCED, READ AND ADOPTED this,;/ S..JI.. day of /1-'( 2006. TOWN OF FIRESTO , COLORADO ATTEST: Mayor !il::':fitl~ own Cler EXHIBIT A Final Plat Conditions of Approval Del Rey Subdivision (Areas 1, 2 and 3) I. Revise the name of the subdivision to read "Del Rey Subdivision (Areas I, 2 and 3)" in the Ownership and Dedication block and in the Town Approval block. 2. Provide executed mineral interest owner notification affidavit. 3. Prior to recording, provide a Statement of Authority demonstrating the person who signs the plat has authority to do so on behalf of "Rancho Notso Grande, LLC, Dissolved February 4, 2005." 4. F.M.C. § 16.16.220 shall be satisfied by cash payment in lieu of land dedication; subdivider shall execute and record an agreement regarding the amount and timing of such payment prior to recording of the plat. 5. Recording of the access easement shall be coordinated with recording of the plat to ensure the required access is established. 6. A subdivision agreement shall be executed if public improvements are required in connection with this plat. If not, add a note to the plat stating "The Town of Firestone will require a subdivision development agreement for public improvements at the time of the development of the lots." 7. Provide one corrected and executed mylar to the Town Clerk for recording. 5/3CV2006 9:31 AM (.\ii] S:\F'~ Espinosa..Pla!.TB.rcs(cbn).doc 2 /<_Q_odophrd RESOLUTION NO. 06-fl A RESOLUTION APPROVING A FINAL PLAT AND OVERALL FINAL DEVELOPMENT PLAN FOR FIRESTONE CROSSING WHEREAS, there has been submitted to the Board of Trustees of the Town of Firestone a request for approval of a final plat and overall final development plan for Firestone Crossing; and WHEREAS, all materials related to the proposed final plat and overall final development plan have been reviewed by Town Staff and the Firestone Planning and Zoning Commission and found with conditions to be in compliance with Town of Firestone subdivision and zoning ordinances, Development Regulations, and related Town ordinances, regulations, and policies; and WHEREAS, the Firestone Planning and Zoning Commission has held a properly noticed public hearing on the application, and has forwarded to the Board of Trustees a recommendation of approval, with conditions; and WHEREAS, the Board of Trustees has duly considered the proposed final plat and overall final development plan and has held a properly noticed public hearing on the application; and WHEREAS, the Board of Trustees finds that the proposed final plat and overall final development plan should be approved subject to certain conditions. NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF TRUSTEES OF THE TOWN OF FIRESTONE, COLORADO: Section ] . The Board of Trustees of the Town of Firestone does hereby approve the proposed final plat and overall final development plan for Firestone Crossing, subject to the conditions set forth on Exhibit A attached hereto and incorporated herein by reference. INTRODUCED, READ AND ADOPTED thisz!: day of tnll't'. , 2006. TOWN OF FIREST ATTEST: Mayor ~dy own Clerk · _.._..-~oWIII ····· .... ... _ _ .. · ·•.. .-·· General· EXHIBITA Final Plat and Overall Final Development Plan Conditions of Approval Firestone Crossing I. Provide executed mineral interest owner notification affidavit. 2. Cimarron Street is misspelled. Correct this and other typos. 3. Revise the legal description on all application materials, including the final plat and the final development plan to refer _to Outlot J of the I st Replat of Outlots A, H, I, J & N, Booth Farms, Second Filing. 4. The FDP and Final Plat identify different owners of the property; revise the documents so that they are consistent and identify only the current owner. 5. Provide an updated title commitment for the property showing current ownership. 6. Provide documentation that the property has been included in the Frederick-Firestone Fire Protection District. 7. Provide a copy of the Declaration of Reciprocal Easements and Restrictions referred to under the Private Maintenance and Enforcement and Controls blocks. 8. Provide a copy of the 25-foot access and utility easement running through Mountain View Retail Center (shown on the OFDP as being recorded at reception number 3226147). If required by the Town Engineer, the final plat shall be revised to include any additional easements the Town Engineer determines necessary to provide connection between this easement to the internal access easements shown on this parcel. 9. An additional easement from the owner of Lot 1 of the Mountain View Retail Center will be necessary to provide the proposed access between Lots 3 and 4. The applicant shall obtain such easement and provide a copy for review of Town staff prior to recording of the -. 10. Remove all references to County roads; use Firestone street names instead. Revise "Firestone Road" to read "Firestone Blvd." Fioal Plat• 11. Include the Firestone Information block on each sheet of the plat. 2 12. Identify the name, address and telephone number of the owners. 13. Revise the plat to show Mountain View Retail Subdivision and all related text in a lighter shade than Firestone Crossing. 14. The access easement into High Plains Marketplace to the east and the access easement into Booth Farms 2nd Filing, Outlot H to the west shall be shown and labeled on the plat to verify that the accesses into the Firestone Crossing PUD line up with existing accesses. 15. The emergency access easement into Booth Farms, 2nd Filing, Outlot I to the south shall be shown and labeled on the plat. 16. Delete the "Lender Consents" block and include the following Lender's Consent: Lender's Consent The undersigned, --------------~ a Colorado Banking Association, as the beneficiary of a deed of trust recorded at Reception No. -----~ Weld County Clerk and Recorder, which constitutes a lien upon the property depicted on the accompanying plat, hereby consents to this plat, subordinates its said lien to the declaration of covenants and other Colorado Common Interest Ownership Act documents, consents to the dedication of the streets, alleys, roads, easements, outlots and other public uses, as shown. on this plat, and forever releases said lands from the lien created by said instrument. (Name of Lender) Date: ----------(Signature) Address: ----------(Title) 17. Remove "Outlot J" label from the middle of the plat. 18. Remove the Clerk and Recorder's Certificate. 19. Identify the dimensions of Colorado Boulevard roadway and right-of-way. 20. Execute a Subdivision Agreement in the form required by the Town. 21. Show the access to this site from the adjacent property as shown on the FOP and include recording information for easements providing for same. 22. Identify oil and gas well heads, appurtenant facilities and owners of same. QFQPSbeet J· 23. Revise all text blocks to refer to the docwnent as an OFDP rather than a PDP. 24. Add a note stating that a site-specific final development plan shall be required for each lot prior to development. 25. Revise the title of the "Owners Signature" block to read "Acceptance Block and Notary." 26. Revise the Town of Firestone approval block to provide for signature of the Mayor, not a notary public. 27. Rename the project data block "Land Use Table." 28. Include water demand calculations pursuant to requirements of the Town Engineer. 29. Revise the drainage statement in light of the Final Drainage Report for Firestone Crossing dated April 3, 2006 and to address the proposed timing of drainage improvements. The final form of the drainage statement shall be reviewed and approved by the Town Engineer. 30. Identify proposed addresses for the Lots. 3 I. Remove references to development standards that will be addressed at the time of FOP for each individual lot (i.e., F.A.R., internal building setbacks, parking ratio, signage standards). QFQP Sbeet2· 32. Revise the FOP to show Mountain View Retail Subdivision and all related text in a lighter shade than Firestone Crossing. 33. Include recording information for the access and utility easements. 34. Identify the proposed location of street lights and specify the lighting detail, which shall be the same as used by Walgreens. Additional Cnoditinos· 35. Add a note to describe the addressing scheme for the individual lots. S/2Sn006 12:22 PMOS/l 7fl006 4:n PM [sjl) S:\F'ircstone\Subdivisiom\F"irc.uoncCrossirl8,OFDP FP .TB.res (dclln).doc 4 RESOLUTION NO. 06-17 A RESOLUTION APPROVING A FINAL PLAT AND OVERALL FINAL DEVELOPMENT PLAN FOR FIRESTONE CROSSING WHEREAS, there has been submitted to the Board of Trustees of the Town of Firestone a request for approval of a final plat and overall final development plan for Firestone Crossing; and WHEREAS, all materials related to the proposed final plat and overall final development plan have been reviewed by Town Staff and the Firestone Planning and Zoning Commission and found with conditions to be in compliance with Town of Firestone subdivision and zoning ordinances, Development Regulations, and related Town ordinances, regulations, and policies; and WHEREAS, the Firestone Planning and Zoning Commission has held a properly noticed public hearing on the application, and has forwarded to the Board of Trustees a recommendation of approval, with conditions; and WHEREAS, the Board of Trustees has duly considered the proposed final plat and overall final development plan and has held a properly noticed public hearing on the application; and WHEREAS, the Board of Trustees finds that the proposed final plat and overall final development plan should be approved subject to certain conditions. NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF TRUSTEES OF THE TOWN OF FIRESTONE, COLORADO: Section 1. The Board of Trustees of the Town of Firestone does hereby approve the proposed final plat and overall final development plan for Firestone Crossing, subject to the conditions set forth on Exhibit A attached hereto and incorporated herein by reference. INTRODUCED, READ AND ADOPTED UPON RECONSIDERATION this 11 th day of May,2007. Mayor General: EXHIBIT A Final Plat and Overall Final Development Plan Conditions of Approval Firestone Crossing I. Provide executed mineral interest owner notification affidavit. 2. Cimarron Street is misspelled. Correct this and other typos. 3. Revise the legal description on all application materials, including the final plat and the final development plan to refer to Outlot J of the I st Replat of Outlots A, H, I, J & N, Booth Farms, Second Filing. 4. The FDP and Final Plat identify different owners of the property; revise the documents so that they are consistent and identify only the current owner. 5. Provide an updated title commitment for the property showing current ownership. 6. Provide documentation that the property has been included in the Frederick-Firestone Fire Protection District. 7. Provide a copy of the Declaration of Reciprocal Easements and Restrictions referred to under the Private Maintenance and Enforcement and Controls blocks. 8. Provide a copy of the 25-foot access and utility easement running through Mountain View Retail Center (shown on the OFDP as being recorded at reception number 3226147). If required by the Town Engineer, the final plat shall be revised to include any additional easements the Town Engineer determines necessary to provide connection between this easement to the internal access easements shown on this parcel. 9. That portion of the 30-foot-wide access that runs north-south and lies north of the north line of the east-west 35-foot-wide access shall be completed and opened to traffic no later than the issuance of a certificate of occupancy for Lot 4. If this portion of the 30-foot-wide access will not be completed concurrently with the remainder of the improvements shown on the construction plans, applicant shall submit a phasing plan which shall be subject to review and approval by the Town Engineer and incorporated into the FDP, construction drawings and subdivision agreement. If this access is to be opened to access through the property to the north, then the applicant shall provide to Town staff a copy of the off-site easement for such connection at the time of recording of such easement. I 0. Remove all references to County roads; use Firestone street names instead. Revise "Firestone Road" to read "Firestone Blvd." 2 Final Plat: 11. Include the Firestone lnformation block on each sheet of the plat. 12. Identify the name, address and telephone nwnber of the owners. 13. Revise the plat to show Mountain View Retail Subdivision and all related text in a lighter shade than Firestone Crossing. 14. The access easement into High Plains Marketplace to the east and the access easement into Booth Farms 2nd Filing, Outlot H to the west shall be shown and labeled on the plat to verify that the accesses into the Firestone Crossing PUD line up with existing accesses. 15. The emergency access easement into Booth Farms, 2nd Filing, Outlot I to the south shall be shown and labeled on the plat. 16. Delete the "Lender Consents" block and include the following Lender's Consent: Lender's Consent The undersigned, ______________ _, a Colorado Banking Association, as the beneficiary of a deed of trust recorded at Reception No. -----~ Weld County Clerk and Recorder, which constitutes a lien upon the property depicted on the accompanying plat, hereby consents to this plat, subordinates its said lien to the declaration of covenants and other Colorado Common Interest Ownership Act documents, consents to the dedication of the streets, alleys, roads, easements, outlots and other public uses, as shown on this plat, and forever releases said lands from the lien created by said instrwnent. (Name of Lender) Date: ----------(Signature) Address: ----------(Title) 17. Remove "Outlot J" label from the middle of the plat. 18. Remove the Clerk and Recorder's Certificate. 19. Identify the dimensions of Colorado Boulevard roadway and right-of-way. 20. Execute a Subdivision Agreement in the form required by the Town. 3 21. Identify oil and gas well heads, appurtenant facilities and owners of same. OFDP Sheet 1: 22. Revise all text blocks to refer to the document as an OFDP rather than a PDP. 23. Add a note stating that a site-specific final development plan shall be required for each lot prior to development. 24. Revise the title of the "Owners Signature" block to read "Acceptance Block and Notary." 25. Revise the Town of Firestone approval block to provide for signature of the Mayor, not a notary public. 26. Rename the project data block "Land Use Table." 27. Include water demand calculations pursuant to requirements of the Town Engineer. 28. Revise the drainage statement in light of the Final Drainage Report for Firestone Crossing dated April 3, 2006 and to address the proposed timing of drainage improvements. The final form of the drainage statement shall be reviewed and approved by the Town Engineer. 29. Identify proposed addresses for the Lots. 30. Remove references to development standards that will be addressed at the time of FOP for each individual lot (i.e., F.A.R., internal building setbacks, parking ratio, signage standards). OFDP Sheet 2: 31. Revise the FOP to show Mountain View Retail Subdivision and all related text in a lighter shade than Firestone Crossing. 32. Include recording information for the access and utility easements. 33. Identify the proposed location of street lights and specify the lighting detail, which shall be the same as used by Walgreens. Additional Conditions: 34. Add a note to describe the addressing scheme for the individual lots. S/11/2007 4: 14 PM [f4)) S:\flrcstonc\Subdivisioo~,rlrc:stoncCrossing.OFDP FP.TB.res (Readopted 5-10-07) 4 RESOLUTION NO. 06-Ji A RESOLUTION APPROVING A FINAL DEVELOPMENT PLAN FOR CIMARRON NURSERY AND GARDEN CENTER WHEREAS, there has been submitted to the Board of Trustees of the Town of Firestone a request for approval of a final development plan for the Cimarron Nursery and Garden Center; and WHEREAS, all materials related to the proposed final development plan have been reviewed by Town Staff and the Firestone Planning and Zoning Commission: and found with conditions to be in compliance with Town of Firestone subdivision and zoning ordinances, Development Regulations, and related Town ordinances, regulations, and policies; and WHEREAS, the Firestone Planning and Zoning Commission has held a properly noticed public hearing on the application, and has forwarded to the Board of Trustees a recommendation of approval, with conditions; and WHEREAS, the Board of Trustees has duly considered the proposed final development plan and has held a properly noticed public hearing on the application; and WHEREAS, the Board of Trustees finds that the proposed final development plan should be approved subject to certain conditions. NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF TRUSTEES OF THE TOWN OF FIRESTONE, COLORADO: Seering ] . The Board of Trustees of the Town of Firestone does hereby approve the proposed final development plan for the Cimarron Nursery and Garden Center, subject to the conditions set forth on Exhibit A attached hereto and incorporated herein by reference. INTRODUCED, READ AND ADOPTED this Ji!day of '111/f'( , 2006. ATTEST: TOWN OF FIRESTONE, J Michael P. Simone Mayor .. ······ row~·-.... . · .. SEAL ··....... . ... -··-- OLORADO General· EXIIlBITA Final Development Plan Conditions of Approval Cimarron Nursery and Garden Center I. Verify the name of the development and revise all application materials to be consistent. 2. Provide an updated title commitment for the property. 3. Provide proof of inclusion in the Frederick-Firestone Fire Protection District. 4. Provjde a sheet or sheets detailing a proposed signage plan, fencing plan and site details for the FOP. The plan shall be consistent with the presentation at the Town Board public hearing and additionally subject to review and approval by the Town Planner. 5. Provide a north to south cross section showing through the building on the site across to the condominium building to the south. 6. Utilize the same parking lot lighting as Walgreens. Reduce the number of light boxes as necessary. Note location for lighting on the site plan. 7. Identify appropriate locations for access to the south and, to the extent possible, work with developer to the south to provide paved access. 8. Provide executed mineral interest owner notice affidavit. 9. Modify text pursuant to red line comments from Town Planner. IO. Remove references to "guidelines." 11. Darken building outline so that it is more easily defined. 12. Identify existing oil/gas well on the site plan. 13. Provide detail of trash enclosure, which shall be subject to review and approval of Town Planner. I 4. Identify total square footage of building. 15. Clarify the need for the 2-foot concrete pan noted on the site plan. 2 16. Identify the lot and the total area on the site plan. 17. Clarify in the FOP text how the circulation system provides for access into the garden center as presented at the public hearing. The final circulation system detail shall be subject to review and approval by the Town Planner and Town Engineer. 18. Building materials and colors shall be as presented at the Town Board public hearing, including specifically that the metal siding material shall be patina green and the retractable roofing material shall be muted or light tan. Use cut stone for building base similar to the color and style of the Walgreens building. I 9. Provide hours of operation. 20. Provide information on irrigation of storage and display area and how nuisance water will be controlled. 21. Provide signage details and locations. 22. Provide outdoor lighting details. EDP Sheet J· 23. Revise the title block to read as follows: Final Development Plan -Lot 7 Cimaa:ao N11rsery and Garden Center Firestone Crossing d.4lt..1 Town of Firestone Weld County State of Colorado Sheet of 24. Delete references to "Filing I" as part of the name of Firestone Crossing. 25. Revise the Firestone information block to show the name of this application, not "Firestone Crossing." 26. Include the following text blocks, all of which shall be consistent with the application and subject to review and approval by the Town Planner: a. Project concept b. Environmental impact mitigation c. Private maintenance and enforcement d. Parks trails and open space e. Controls f. Drainage g. Utilities h. Water demand calculations 1. Parking J. Architecture k. Setbacks I. Development schedule 27. Provide a land use table that shows building coverage and gross building square footage, percentage of paved areas, parking areas and other definable areas in relationship to the gross area of the FOP. 28. Revise the Town Approval block to provide for signature by the mayor, not a notary public. 29. Revise the title of the "Owner's Signature" block to read "Acceptance Block and Notary." EPP Sbeet 2· 30. Identify adjacent subdivisions and show platted lots with dotted lines. Identify access to the subdivision on the west side of Cimarron Avenue. 31. Show existing and planned improvements within 150 feet of the FOP area. 32. Include the dimensions of tbe existing right-of-way for Cimarron Avenue and proposed roadways. 33. Clarify the shape and dimensions of the proposed building. 34. Identify the lot lines and dimensions of all setbacks. 35. Identify the trash disposal area and location, dimension, color and materials for same; materials and colors shall match the main building unless otherwise approved by the Town Planner. 36. Include a legend. 37. Identify any outdoor storage area and surface treatment for same; outdoor storage areas shall be limited to those designated in the FOP. 4 EPP Sheet 3· 38. Include a legend identifying the types of lines used to show existing and proposed contours. 39. Identify surface treatments. EPP Sheet 11· 40. Relocate the landscape plan to Sheet 4. 41. Revise landscape plan to same scale as site plan map sheet. 42. Identify proposed sidewalks. 43. Address how the existing fence surrounding the gas well will be treated. 44. Delete the Weld County Engineering Division approval blocks. Utility Plans and Technical Documents- 45. Modify the Utility Plans and other technical documents pursuant to comments from the Town Engineer. Additional Conditioos· 46. Ensure all lighting on the building is downcast. 4 7. Locate any soil amendments or any potentially odorous materials in the northern portion of the site. 48. Add directional references to the concept sketch. 49. Provide drawing of gables and lighting in the FOP. SO. Clarify that the south building elevation is a powder coated metal. SI. Add a knee wall to the south side of the building using the same material as the knee walls. 52. Match fence color and materials used for the condominiums. 53. Correct directional references for elevations in the FOP. :'i 54. Clarify parking space calculations. 55. Clarify on the landscape plan the grass will be sod. S/3CV2006 9:37 AM [sjl) S:\FITCSlOne\SubdMsiomlFJrestoncC~P. TB.n::s (dcan),doc • Ii RESOLUTION NO. Ob-/ '} A RESOLUTION FINDING SUBSTANTIAL COMPLIANCE FOR AN ANNEXATION PETITION FILED WITH THE TOWN OF FIRESTONE, COLORADO, KNOWN AS THE CENTRAL PARK ANNEXATION TO THE TOWN OF FIRESTONE, AND SETTING A PUBLIC HEARING THEREON. WHEREAS, a petition for annexation of certain property to be known as the Central Park Annexation has been filed with the Town Clerk of the Town of Firestone, Colorado, and referred to the Board of Trustees of the Town for a determination of substantial compliance with applicable law; and WHEREAS, the Board of Trustees wishes to permit simultaneous consideration of the subject property for annexation and zoning, if requested in the petition; and WHEREAS, the Board of Trustees has reviewed the petition and desires to adopt by Resolution its findings in regard to the petition. NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF TRUSTEES OF THE TOWN OF FIRESTONE, COLORADO: Section 1. The petition, the legal description for which is attached hereto as Exhibit A and incorporated herein by reference, is in substantial compliance with the applicable laws of the State of Colorado. Section 2. Section 3. in the petition. No election is required under C.R.S. § 31-12-107(2). No additional terms and conditions are to be imposed except any provided for Section 4. The Board of Trustees will hold a public hearing for the purpose of determining if the proposed annexation complies with C.R.S. §§ 31-12-104 and 31-12-105, and will hold a public hearing to determine the appropriate zoning of the subject property, ifrequested in the petition, at the Firestone Town Hall, 151 Grant A venue, Firestone, Colorado 80520, on Thursday, July 20, 2006 at 7:30 P.M. Section 5. Any person may appear at such hearing and present evidence relative to the proposed annexation, or the proposed zoning if requested in the petition. Section 6. Upon completion of the hearing, the Board of Trustees will set forth, by resolution, its findings and conclusions with reference to the eligibility of the proposed annexation, and whether the statutory requirements for the proposed annexation have been met, and further, will determine the appropriate zoning of the subject property if requested in the petition. 1 Section 7. If the Board of Trustees concludes, by resolution, that all statutory requirements have been met and that the proposed annexation is proper under the laws of the State of Colorado, the Board of Trustees may pass one or more ordinances annexing the subject property to the Town of Firestone, and will pass one or more ordinances zoning the subject property if requested in the petition. ~ INTRODUCED, READ, and ADOPTED this L day of~~~<"--'' 2006. ATTEST: OS/10/2006 S:00 PM [kkh]F:\Company\f'uestone\Anncxation\Cenual ~comp.res.doc 2 Michael P. Simone Mayor ,·...-~ow~·-..... .. · . . ,., ' ' 0u.1-~ 't.J ··.... __ .... EXIIlBIT A LEGAL DESCRIPTION CENTRAL PARK ANNEXATION THE NORTH ONE-HALF OF SECTION 18, TOWNSHIP 2 NORTH, RANGE 67 WEST OF THE 6TH P.M., COUNTY OF; WELD, STATE OF COLORADO, EXCEPTING THEREFROM THOSE PORTIONS OF SAID LAND AS CONVEYED BY INSTRUMENTS RECORDED MAY 17, 1909 IN BOOK 305, PAGE 15; MAY 3, 2000 AS RECEPTION NO. 2765844; AND RIGHT OF WAY ALONG WELD COUNTY ROAD 15 PER DOLLAGHAN ANNEXATION TO THE TOWN OF FIRESTONE RECORDED AT RECEPTION NO. 2520155 AND 2520156, BOOK 1577, PAGES 26 AND 27, BEING MORE PARTICULARLY DESCRIBED AS FOLLOWS: COMMENCING AT THE NORTHEAST CORNER OF SECTION 18, T2N, R67W OF THE SIXTH P.M., AND CONSIDERING THE EAST LINE OF THE NORTHEAST QUARTER OF SAID SECTION 18 TO BEAR S00°53'21"E WITH ALL OTHER BEARINGS RELATIVE THERETO; THENCE ALONG THE NORTH LINE OF SAID NORTHEAST QUARTER N89°15'53'W, 30.01 FEET TO THE NORTHEAST CORNER OF A QUIT CLAIM DEED RECORDED AT RECEPTION NO. 2765844 IN THE OFFICE OF THE WELD COUNTY CLERK AND RECORDER; THENCE ALONG THE EASTERLY BOUNDARY OF SAID QUIT CLAIM, S00°53'21"E, 50.02 FEET (PREVIOUSL y RECORDED AS S00°53'19"E) 50.02 FEET TO THE SOUTHEAST CORNER OF SAID QUIT CLAIM, SAID POINT BEING ON THE WESTERLY RIGHT OF WAY OF WELD COUNTY ROAD 15, AND SAID POINT ALSO BEING THE POINT OF BEGINNING; THENCE ALONG THE WESTERLY RIGHT OF WAY OF WELD COUNTY ROAD 15 AS DESCRIBED IN SAID DOLLAGHAN ANNEXATIONS NOS. 1 AND 2 TO THE TOWN OF FIRESTONE, S00°53'21"E, 2590.25 FEET TO A POINT ON THE SOUTH LINE OF THE NORTHEAST QUARTER OF SAID SECTION 18; THENCE ALONG THE SOUTH LINE OF THE NORTHEAST QUARTER OF SAID SECTION 18, N89°06'39'W, 2618.37 FEET TO THE CENTER QUARTER CORNER OF SAID SECTION 18; THENCE ALONG THE SOUTH LINE OF THE NORTHWEST QUARTER OF SAID SECTION 18, N89°07'55'W, 2105.37 FEET TO THE EASTERLY LINE OF SAID PARCEL OF LAND CONVEYED TO THE UNION PACIFIC RAILROAD COMPANY AS RECORDED IN THE OFFICE OF THE WELD COUNTY CLERK AND RECORDER IN BOOK 305 AT PAGE 15, ALSO BEING THE EASTERLY LINE OF THAT PARCEL OF LAND CONVEYED TO THE TOWN OF FIRESTONE AS RECORDED IN THE OFFICE OF THE WELD COUNTY CLERK AND RECORDER UNDER RECEPTION NO. 2538622 IN BOOK 1596; THENCE ALONG SAID EASTERLY LINE N00°16'49"E, 2568.35 FEET TO THE SOUTHWEST CORNER OF SAID QUIT CLAIM DEED RECORDED AT RECEPTION NO. 2765844; THENCE ALONG THE SOUTHERLY BOUNDARY OF SAID QUIT CLAIM THE FOLLOWING TWO (2) COURSES: 1) S89°30'49"E, 2079.21 FEET, (PREVIOUSLY RECORDED AS S89°30'43"E, 2079.10 FEET); 2) S89°15'53"E, 2591.50 FEET, (PREVIOUSL y RECORDED AS S89°15'55"E, 2591.57 FEET) TO THE SOUTHEAST CORNER OF SAID QUIT CLAIM, SAID POINT ALSO BEING ON THE WESTERLY RIGHT OF WAY OF WELD COUNTY ROAD 15 AND THE POINT OF BEGINNING. SAID PARCEL CONTAINS 278.32 ACRES MORE OR LESS (12,123,514 SQUARE FEET). 3 RESOLUTION NO. 06-.,2,Q__ A RESOLUTION APPROVING A REPLAT OF THE AMERICAN FURNITURE WAREHOUSE SUBDIVISION WHEREAS, there has been submitted to the Board of Trustees of the Town of Firestone a request for approval of a replat of the American Furniture Warehouse Subdivision; and WHEREAS, all materials related to the proposed subdivision replat have been reviewed by Town Staff and the Firestone Planning and Zoning Commission and found with conditions to be in compliance with Town of Firestone sul;>division and zoning ordinances, Development Regulations, and related Town ordinances, regulations, and policies; and WHEREAS, the Firestone Planning and Zoning Commission has held a properly noticed public hearing on the application, and has forwarded to the Board of Trustees a recommendation of approval, with conditions; and WHEREAS, the Board of Trustees has duly considered the proposed subdivision replat and has held a properly noticed public hearing on the application; and WHEREAS, the Board of Trustees finds that the proposed subdivision replat should be approved subject to certain conditions. NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF TRUSTEES OF THE TOWN OF FIRESTONE, COLORADO: Section J. The Board of Trustees of the Town of Firestone does hereby approve the proposed subdivision replat of the American Furniture Warehouse Subdivision, subject to the conditions set forth on Exhibit A, attached hereto and incorporated herein by reference . .,µ, INTRODUCED, READ AND ADOPTED this /S day of gu....e_ , 2006. TOWN OF FIRESTONE, COLORADO mtd?----- ATTEST: Mayor f):,'rf;ftg/:g_.,,9 Town Clerk EXHIBIT A Replat -American Furniture Warehouse Subdivision Conditions of Approval I. Modify the application in accordance with comments from the Town Planner, Town Engineer, and Town Attorney. 6/IS/l00611:JlAMl~)S:\F"~.Rqilal.TB.rm.dQc 2 RESOLUTION NO. 06-;2./ A RESOLUTION APPROVING A SPECIAL USE PERMIT FOR NOBLE ENERGY PRODUCTION, INC. TO LOCATE AN OIL AND GAS WELL WITHIN THE TOWN OF FIRESTONE WHEREAS, Noble Energy Production, Inc. (hereinafter "Noble" or "Applicant") has submitted to the Board of Trustees of the Town of Firestone an application for a special use permit to locate within the Town an oil and gas well referred to as the proposed Johnson Niven U 13-6Ji Well;and WHEREAS, Noble has submitted the application and supporting materials pursuant to Chapter 15.48 of the Firestone Municipal Code; and WHEREAS, all materials related to the proposed special use have been reviewed by Town Staff and found with conditions to be in compliance with Town of Firestone subdivision, zoning, and oil & gas ordinances, Development Regulations, and related Town ordinances, regulations, and policies; and WHEREAS, the Firestone Planning and Zoning Commission on June 7, 2006 held a properly noticed public hearing on the proposed special use permit application, and has forwarded to the Board of Trustees a recommendation of approval with conditions; and WHEREAS, after a duly-noticed public hearing, at which evidence and testimony were entered into the record, the Board of Trustees finds the special use request for the Johnson Niven U 13-6Ji Well should be approved subject to certain conditions. NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF TRUSTEES OF THE TOWN OF FIRESTONE, COLORADO: Section 1 The Board of Trustees hereby approves the special use permit request of Noble Energy Production, Inc. for location of the Johnson Niven U 13-6Ji Well within the Town of Firestone, in the location more particularly described in Exhibit A attached hereto, subject to the following conditions: 1. The production facilities, as developed or modified, shall be of a low profile style, with a maximum height not to exceed twelve (12) feet. 2. The Town's special use approval shall expire on the date of expiration of the Oil and Gas Conservation Commission Permit to drill the well or one year from the date of Town approval, whichever is later, if operations for the well are not commenced by such date. In the event special use approval expires, the Applicant shall apply for a new special use permit pursuant to Chapter 15.48 of the Firestone Town Code. 3. Oil and gas operations shall be conducted in compliance with all federal, state, and local laws, rules and regulations, including but not limited to the Colorado Oil and Gas Conservation Commission permit for such well and the final special use permit application materials approved by the Town Board, which materials will be incorporated therein by reference. Applicant shall provide to the Town copies of all state approved permits, waivers, variances and subsequent notices filed with the state and affecting the well. 4. Prior to entering the site, Applicant shall obtain from the Town necessary building permits and notices to proceed. 5. Prior to moving the drilling rig onto the well site, Applicant shall obtain from the Town and Weld County necessary permits to move the drilling rig equipment within the Town and County. 6. Applicant shall provide to the Town copies of any executed surface damage agreements or memoranda thereof respecting operation of the well. 7. In the exercise of its rights pursuant to this special use approval, Applicant shall avoid any damage cir interference with any Town installations, structures, utilities, or improvements. Applicant shall be responsible for all damages to such interests of the Town that are caused by the Applicant. 8. Applicant at its sole expense shall control fugitive dust at the well site and on access roads on an as-needed basis. Methods and chemicals used for dust control shall comply with Town ordinances and regulations. 9. The oil/gas well facilities shall utilize setbacks as specified in the Colorado Oil and Gas Conservation Commission Rules and Regulations or the Firestone Town Code, whichever is more restrictive. The well site and tank battery and separator areas shall be secured and screened by chain link fencing with "solid" tan aluminum or vinyl lathing. 10. Water sources for drilling activities shall be from the Town of Firestone, if a water tap is utilized. 11. Machinery at the site shall be well-oiled and well-maintained to mitigate noise. 12. To the extent reasonably possible, orient the drill rig and associated motors and exhaust systems such that they point away from existing residences in the vicinity. 2 13. Drill rigs shall, to the extent reasonably possible, be equipped with higher quality noise reducing mufflers. 14. During drilling, use a tarp around drilling floor and drawworks to muffle sound. 15. Deliveries and construction traffic to and from the site shall, whenever possible, be scheduled during daylight hours. 16. To the extent reasonably possible, keep the door to the drill rig engine closed. 17. Revise plans to conform to redline comments of the Town Engineer. 18. The use of pump jacks shall be limited to those running on electric motors. 19. The drilling rig used for drilling operations shall be Model CAZA-54 or equivalent type of drill rig. 20. Pursuant to Section 15.48.040.C.4 and 6 of the Firestone Municipal Code, provide evidence that the proposed emergency response plan and fire protection plan are acceptable to the appropriate fire district. 21. Modify site plan to show existing trail. The temporary construction fencing for the drilling operation shall be located so that portions of the trail and any trees lying within the 150- foot drilling setback are outside of the fence. Further, the trail and trees shall not be disturbed during drilling or well operations. 22. Applicant shall coordinate with the Town the placement of any temporary barriers proposed to be placed on the trail in connection with the drilling operations. ~ PASSED AND ADOPTED this&_ day of ~ c., .....__ ATTEST: 6/1 snoo6 11 :07 AM(~) S:\f"ll'CSlonc\SubdivisionobicErngyJohnsonNiv,:n TB.res.doc ~-s;-, Ma,ru ,......-~owN ···• ..... . .... '~ ' .\ ~ ..... EXHIBIT A: Well Locations The legal description for the location of the Johnson Niven U 13-6Ji well is the SE ¼ of the NW ¼ of Section 13, Township 2 North, Range 68 West, 6111 P.M., Town of Firestone, County of Weld, State of Colorado. 4 RESOLUTION NO. 06-..2,;J...... A RESOLUTION APPROVING A FINAL DEVELOPMENT PLAN FOR THE FREDERICKc FIRESTONE FIRE PROTECTION DISTRICT STATION NO. 3 WHEREAS, there has been submitted to the Board of Trustees of the Town of Firestone a request for approval of a final development plan for the Frederick-Firestone Fire Protection District Station No. 3; and · WHEREAS, all materials related to the proposed final development plan have been reviewed by Town Staff and the Firestone Planning and Zoning Commission and found with conditions to be in compliance with Town of Firestone subdivision and zoning ordinances, Development Regulations, and related Town ordinances, regulations, and policies; and WHEREAS, the Firestone Planning and Zoning Commission has held a properly noticed public hearing on the application, and has forwarded to the Board of Trustees a recommendation of approval, with conditions; and WHEREAS, the Board of Trustees has duly considered the proposed final development plan and has held a properly noticed public hearing on the application; and WHEREAS, the Board of Trustees finds that the proposed final development plan should be approved subject to certain conditions. NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF TRUSTEES OF THE TOWN OF FIRESTONE, COLORADO: Section ] . The Board of Trustees of the Town of Firestone does hereby approve the proposed final development plan for the Frederick-Firestone Fire Protection District Station No. 3, subject to the conditions set forth on Exhibit A, attached hereto and incorporated herein by reference. INTRODUCED, READ AND ADOPTED this I S~y of Ju...,_ TOWN OF FIRE ~-Michael. Simone ATTEST: Mayor Jl!~od~w-ud) own Clerk , 2006. EXHIBIT A Final Development Plan Conditions of Approval Frederick Firestone Fire Protection District Station No. 3 General I. Modify plans pursuant to comments from the Town Engineer and Town Attorney. 2. Provide building material sample boards, consistent with materials presented at Town Board public hearing. 3. Remove references to "proposed" as this is the final development plan for the project. FOP General Sheet 1 4. Provide Firestone information block on sheet I pursuant to the development regulations. 5. Identify the scale for the vicinity map. 6. In the Water Demand Calculation section, provide the actual calculations. 7. In the Architecture section, clarify that elevations are shown in the final development plan. 8. In the Setback section, remove references to sign information and create a new section ca11ed "signage" and place such information under that heading. 9. In the newly created Signage section, note that there are details provided in the FOP. Sheet 2 I 0. Confirm that the light detail is consistent with the parking lot lighting used at the Carbon Valley Medical Center, in terms of height, color, and fixture detail. Sheet 3 11. Provide a landscape statement of intent with respect to the native grass area and clarify whether this area is being reserved for future expansion. Additional Cooditioos: 12. Correct the labeling for the East and West elevations. 6/1Snoo6 10:36 AM(!jl) S:\F"in::,u~ud)isoia (FFFPD).FDP. 111.~doc 2 RESOLUTION NO. 06-.:23 A RESOLUTION APPROVING A FINAL DEVELOPMENT PLAN FOR SADDLEBACK SQUARE WHEREAS, there has been submitted to the Board of Trustees of the Town of Firestone a request for approval of a final development plan for Saddleback Square on Lot 7, Firestone Retail Center subdivision; and WHEREAS, all materials related to the proposed final development plan have been reviewed by Town Staff and the Firestone Planning and Zoning Commission and found with conditions to be in compliance with Town of Firestone subdivision and zoning ordinances, Development Regulations, and related Town ordinances, regulations, and policies; and WHEREAS, the Firestone Planning and Zoning Commission has held a properly noticed public hearing on the application, and has forwarded to the Board of Trustees a recommendation of approval, with conditions; and WHEREAS, the Board of Trustees has duly considered the proposed final development plan and has held a properly noticed public hearing on the application; and WHEREAS, the Board of Trustees finds that the proposed final development plan should be approved subject to certain conditions. NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF TRUSTEES OF THE TOWN OF FIRESTONE, COLORADO: Section 1 The Board of Trustees of the Town of Firestone does hereby approve the proposed final development plan for Saddleback Square, subject to the conditions set forth on Exhibit A, attached hereto and incorporated herein by reference. INTRODUCED, READANDADOPTEDthis/S~ayof }"...,__ , 2006. TOWN OF FIRE NE, COLORADO ATTEST: Mayor Town Clerk ,·...-~owN····· ... . ... ····.... . .. -···· General EXHIBIT A Final Development Plan Conditions of Approval Saddleback Square I. Modify plans to address comments from the Town Engineer and Town Attorney. 2. Provide building material sample boards, consistent with materials presented at Town Board public hearing. Notebook 3. Provide updated traffic compliance letter as may be requested by the Town Engineer. FOP Sheet 1 4. Confirm that language in the Notes section is in proper form, as determined by the Town Engineer and Town Attorney. 5. Provide specific amounts of CBT shares required, pursuant to calculations approved by the Town Engineer. Sheet 3 6. Increase the Control section font size to be consistent with the rest of the FOP text section 7. Further clarify the statement in the sign program that specifies that the "Owner reserves the right to not install any of the tenants signs shown in the final development plan drawings". The final language of the statement shall be subject to review and approval by the Town Planner. 8. Add a circulation section and note that the turning radius of the drive-thru meets necessary training radius requirements. 9. Add a statement to the Architecture section that clarifies the building materials utilized are compatible with that of the Adams Bank building to the south. Sheet 4 10. Clarify that the Firestone retail center entrance sign is an existing sign. Sheet 5 2 11. Confirm that site lighting detail matches that used at Adams Bank, in terms of height, color, and fixture type. Additional Conditions: 12. Move or reduce the width of the first island at the entrance to the parking lot to the north, to provide additional room for vehicles entering and exiting the site, which may eliminate two parking spaces. 13. Add a note to the FDP that lighting shall be aimed at the building so that light does not drift off the site. 14. Add a note to the FDP that the roof material and color shall match Adams Bank. 15. Add a note to the FOP that the color of the doors along the back of the building will match the color of the roof. 6/1~ 10:SJAM(sjl]S:\F'~FDP.TB.rc:s.doc 1 RESOLUTION NO. O(:, -.:}_'{ A RESOLUTION ESTABLISHING REVISED ELECTRIC PERMIT FEES WHEREAS, pursuant to C.R.S. § 12-23-117(2), electric fees charged by the Town shall not be more than fifteen percent above those fees established by the state electrical board; and WHEREAS, effective July 1, 2006, the state electrical board has reduced its electrical fees, and the Board of Trustees has determined it is therefore necessary for the Town to adopt a revised schedule of electric permit fees for the Town. NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF TRUSTEES OF THE TOWN OF FIRESTONE, COLORADO: Section 1. Pursuant lei Section 15.08.020.A of the Firestone Municipal Code, the electrical permit fees required by the National Electrical Code shall be as set forth in the fee schedule attached hereto and incorporated by reference herein. Section 2. The fee schedule attached hereto shall supersede and replace any previously adopted schedule of Town electric permit fees, including specifically that Exhibit B to Resolution No. 05-19. Section 3. The fees adopted pursuant to this Resolution shall take effect on July 1, 2006. Section 4. The Town Administrator is hereby authorized to annually adjust the fees adopted pursuant to this Resolution as necessary to comply with C.R.S. § 12-23-117(2). The date of any such adjustment by the Town Administrator shall be noted on the revised fee schedule. Any adjustment not necessary to comply with such statute shall be by resolution of the Board ofTrustees. INTRODUCED, READ, and ADOPTED this /3 ~ day of ___ ~~-------~ 2005. ~ ... ·····row~·· ..... .. ·,. TOWN OF FIRESTONE, COLORADO SEAL Attest: ··..... . .. -·· Michael P. Simone~ 7/6/2006 9: 16 AM (,jl] Y:\F'!I'CStone\Resoluti011\ElccuicFces2006.res.doc I EXHIBITB Town of Firestone Electric Permit Fee Schedule (eff. 7/1/06) Residential: This includes single family dwellings, site-built and modular/factory-built homes, duplexes, condominiums, and townhouses. Not more than 1000 sq. ft. Over 1000 sq. ft. and not more than 1500 sq. ft. Over 1500 sq. ft. and not more than 2000 sq. ft. Per 100 sq. ft. in excess of2000 sq. ft. $46.00 $46.00 $46.00 $1.15 All other electrica·l fees: Except as provided above, electrical fees shall be computed on the dollar value of the electrical installations including time, material, and contractor profit. Such fees shall be calculated as follows: Valuation of work: Not more than $300 $301, but not more than $2000 $2001, but not more than $50,000 Per thousand or fraction thereof of total valuation PLUS $17.25 $50,001 but not more than $500,000 Per thousand or fraction thereof of total valuation PLUS. $17.25 More than $500,000 Per thousand or fraction thereof of total valuation PLUS.$ 17.25 Mobile homes in a mobile home park Re-inspection on any of the above Construction meter/Extra inspections $46.00 $46.00 $11.50 $11.50 $11.50 $46.00 $34.50 $34.50 [Note: Fees are based on the most current version of the fee schedule provided by the State of Colorado Electrical Board. To be reviewed and adjusted annually each July to be maintained at no more than 15% of the State's fee schedule.] 2 RESOLUTION NO. 06-<rl5 A RESOLUTION CONCERNING A PETITION FOR THE ANNEXATION OF PROPERTY TO THE TOWN OF FIRESTONE, COLORADO, KNOWN AS THE CENTRAL PARK ANNEXATION TO THE TOWN OF FIRESTONE, AND FINDING THE AREA PROPOSED TO BE ANNEXED ELIGIBLE FOR ANNEXATION. WHEREAS, a petition for annexation of property described in Exhibit A attached hereto, to be known as the Central Park Annexation to the Town of Firestone, has been filed with the Board of Trustees of the Town of Firestone; and WHEREAS, pursuantto state law, the Town Board has held a hearing and desires to adopt by Resolution its findings in regard to the petition and eligibility for annexation. NOW, THEREFORE, BE IT RESOLVED BY THE TOWN BOARD OF THE TOWN OF FIRESTONE, COLORADO: Section 1. The Town Board finds and concludes that: I. It is desirable and necessary that the territory described in Exhibit A attached hereto and incorporated herein be annexed to the Town of Firestone. 2. The requirements of Sections 31-12-104 and 31-12-105, C.R.S., as amended, exist or have been met, including: a. Not less than one-sixth of the perimeter of the area proposed to be annexed is contiguous with the Town of Firestone. b. A community of interest exists between the area proposed to be annexed and the Town of Firestone. c. The area proposed to be annexed is urban or will be urbanized in the near future. d. The area proposed to be annexed is integrated with or is capable of being integrated with the Town of Firestone. e. No land within the boundary of the territory proposed to be annexed which is held in identical ownership, whether consisting of one tract or parcel of real estate or two or more contiguous tracts or parcels of real estate, has been divided into separate parts or parcels without the written consent of the 1 landowner or landowners thereof, unless such tracts or parcels were separated by a dedicated street, road, or other public way. f. No land within the boundary of the area proposed to be annexed which is held in identical ownership, whether consisting of one tract or parcel of real estate or two or more contiguous tracts or parcels of real estate, comprising twenty acres or more, and which, together with the buildings and improvements situated thereon, has an assessed value in excess of two hundred thousand dollars ($200,000.00) for ad valorem tax purposes for the year next preceding the annexation, has been included within the area proposed to be annexed without the written consent of the landowners. g. No annexation proceedings have been commenced for any portion of the territory proposed to be annexed for the annexation of such territory to another municipality. h. The annexation of the territory proposed to be annexed will not result in the detachment of area from any school district. 1. • The annexation of the territory proposed to be annexed will not have the effect of extending the boundary of the Town of Firestone more than three miles in any direction from any point of the boundary of the Town of Firestone in any one year. J. The territory proposed to be annexed is comprised of278.32 acres, more or less. k. A plan is in place, pursuant to Section 31-12-IOS(l)(e), C.R.S. I. Any portion of a platted street or alley to be annexed will result in the entire width of the street or alley having been included within and made a part of the Town of Firestone and reasonable access will not be denied to any landowners, owners of any easement, or the owners of any franchise adjoining any platted street or alley which is to be annexed to the Town of Firestone but is not bounded on both sides by the Town of Firestone. 3. Four copies of an annexation map of the area proposed to be annexed have been submitted to the Town Board and are on file with the Town. 4. Upon the annexation ordinance becoming effective, all land within the area proposed to be annexed will become subject to all ordinances, resolutions, rules, and regulations of the Town of Firestone, except that general property taxes of the Town of Firestone, if applicable, shall become effective as of the January I next ensuing. 2 5. No election for annexation of the area proposed to be annexed has been held in the preceding twelve months, and no election is required under Section 31-12-107(2) or - 112, C.R.S. 6. No additional terms and conditions are to be imposed other than those set forth in the annexation petition or otherwise agreed to by all owners. 7. The landowners of one hundred percent (100%) of the areas proposed to be annexed signed the petition requesting annexation, in compliance with Article II, Section 30 of the Colorado Constitution and Section 31-12-107(1), C.R.S. Section 2. The Town Board concludes that all statutory requirements have been met, that the proposed annexation is proper under the laws of the State of Colorado and the area proposed to be annexed is eligible for annexation to the Town. The Town Board, acting in its legislative capacity and pursuant to authority granted to it by state law, may adopt one or more ordinances annexing the subject property to the Town of Firestone. "t'1 INTRODUCED, READ, and ADOPTED this :;/7 day of ~ , 2006. 'E,:l l -~ ST: . --·· ~Clerk yHegw 3 ~P.Simone Mayor EXHIBIT A -LEGAL DESCRIPTION: THE NORTH ONE-HALF OF SECTION 18, TOWNSHIP 2 NORTH, RANGE 67 WEST OF THE 6TH P.M., COUNTY OF WELD, STATE OF COLORADO, EXCEPTING THEREFROM THOSE PORTIONS OF SAID LAND AS CONVEYED BY INSTRUMENTS RECORDED MAY 17, 1909 IN BOOK 305, PAGE 15; MAY 3, 2000 AS RECEPTION NO. 2765844; AND RIGHT OF WAY ALONG WELD COUNTY ROAD 15 PER DOLLAGHAN ANNEXATION TO THE TOWN OF FIRESTONE RECORDED AT RECEPTION NO. 2520155 AND 2520156, BOOK 1577, PAGES 26 AND 27, BEING MORE PARTICULARLY DESCRIBED AS FOLLOWS: COMMENCING AT THE NORTHEAST CORNER OF SECTION 18, T2N, R67W OF THE SIXTH P.M., AND CONSIDERING THE EAST LINE OF THE NORTHEAST QUARTER OF SAID SECTION 18 TO BEAR S00°53'21"E WITH ALL OTHER BEARINGS RELATIVE THERETO; THENCE ALONG THE NORTH LINE OF SAID NORTHEAST QUARTER N89°15'53''W, 30.01 FEET TO THE NORTHEAST CORNER OF A QUIT CLAIM DEED RECORDED AT RECEPTION NO. 2765844 IN THE OFFICE OF THE WELD COUNTY CLERK AND RECORDER; THENCE ALONG THE EASTERLY BOUNDARY OF SAID QUIT CLAIM, S00°53'21 "E, 50.02 FEET (PREVIOUSLY RECORDED AS S00°53'19"E) 50.02 FEET TO THE SOUTHEAST CORNER OF SAID QUIT CLAIM, SAID POINT BEING ON THE WESTERLY RIGHT OF WAY OF WELD COUNTY ROAD 15, AND SAID POINT ALSO BEING THE POINT OF BEGINNING; THENCE ALONG THE WESTERLY RIGHT OF WAY OF WELD COUNTY ROAD 15 AS DESCRIBED IN SAID DOLLAGHAN ANNEXATIONS NOS. 1 AND 2 TO THE TOWN OF FIRESTONE, S00°53'21"E, 2590.25 FEET TO A POINT ON THE SOUTH LINE OF THE NORTHEAST QUARTER OF SAID SECTION 18; THENCE ALONG THE SOUTH LINE OF THE NORTHEAST QUARTER OF SAID SECTION 18, N89°06'39''W, 2618.37 FEET TO THE CENTER QUARTER CORNER OF SAID SECTION 18; THENCE ALONG THE SOUTH LINE OF THE NORTHWEST QUARTER OF SAID SECTION 18, N89°07'55''W, 2105.37 FEET TO THE EASTERLY LINE OF SAID PARCEL OF LAND CONVEYED TO THE UNION PACIFIC RAILROAD COMPANY AS RECORDED IN THE OFFICE OF THE WELD COUNTY CLERK AND RECORDER IN BOOK 305 AT PAGE 15, ALSO BEING THE EASTERLY LINE OF THAT PARCEL OF LAND CONVEYED TO THE TOWN OF FIRESTONE AS RECORDED IN THE OFFICE OF THE WELD COUNTY CLERK AND RECORDER UNDER RECEPTION NO. 2538622 IN BOOK 1596; THENCE ALONG SAID EASTERLY LINE N00°16'49"E, 2568.35 FEET TO THE SOUTHWEST CORNER OF SAID QUIT CLAIM DEED RECORDED AT RECEPTION NO. 2765844; THENCE ALONG THE SOUTHERLY BOUNDARY OF SAID QUIT CLAIM THE FOLLOWING TWO (2) COURSES: 1) S89°30'49"E, 2079.21 FEET, (PREVIOUSLY RECORDED AS S89°30'43"E, 2079.10 FEED; 2) S89°15'53"E, 2591.50 FEET, (PREVIOUSLY RECORDED AS S89°15'55"E, 2591.57 FEED TO THE SOUTHEAST CORNER OF SAID QUIT CLAIM, SAID POINT ALSO BEING ON THE WESTERLY RIGHT OF WAY OF WELD COUNTY ROAD 15 AND THE POINT OF BEGINNING. SAID PARCEL CONTAINS 278.32 ACRES MORE OR LESS (12,123,514 SQUARE FEET). 07n.7n.006 12:39 PM (kkh) S:\Yircstone\Anntxalion\Ccnual Parle.res.doc 4 RESOLUTION NO. 0 fo -_;i{p A RESOLUTION APPROVING AN AMENDED AND RESTATED PUBLIC IMPROVEMENTS REIMBURSEMENT AGREEMENT WITH AMERICAN FURNITURE WAREHOUSE CO. AND THF FIRESTONE DEVELOPMENT, L.L.C. AND AUTHORIZING EXECUTION OF SUCH AGREEMENT WHEREAS, the Town of Firestone, Colorado (the "Town") and American Furniture Warehouse Co. ("AFW") previously entered into a Public Improvements Reimbursement Agreement dated as of the 22 nd day of September, 2005 (the "Original Agreement"), which covered an approximately 132.271-acre parcel of land further described in the Original Agreement (the "Original PIRA Property"); and WHEREAS, subsequent to execution of the Original Agreement, the Board of Trustees of the Town (the "Board") approved the plat for Lots I, 2 and 3, American Furniture Warehouse Subdivision, and approved the replat of Lots I, 2 and 3, American Furniture Warehouse Subdivision; and WHEREAS, pursuant to the Original Agreement, the Town agreed to reimburse AFW for certain costs associated with AFW's construction and completion of certain public improvements related to AFW's development of the Original PIRA Property; and WHEREAS, the Town has approved a Final Development Plan for AFW's development of a retail furniture store in the Subdivision at the southeast comer of the intersection of Interstate 25 and Firestone Boulevard, and AFW has commenced construction of a retail furniture store consisting of not less than 175,000 square feet of retail showroom (the "AFW Facility"); and WHEREAS, subsequent to execution of the Original Agreement, AFW and THF Firestone Development, L.L.C. ("TFD"), a developer of retail shopping centers, entered into a purchase and sale agreement for a portion of the Original PIRA Property; and WHEREAS, TFD intends to purchase and develop the Original PIRA Property, other than the site of the AFW Facility, and approximately 5.68 additional acres that was not subject to the Original Agreement (the "Additional PIRA Property"), such development to include a number of development sites and structures for retail, light industrial, office and other commercial businesses (collectively, the "TFD Facilities"); and WHEREAS, as part of the development of the infrastructure and related improvements to serve the AFW Facility, the TFD Facilities, the Original PIRA Property, and the Additional PIRA Property (collectively, the "Project"), the Town will require the extension of water, sewer and other public improvements to adequately serve the Project; and WHEREAS, certain designated portions of the improvements for the Project are intended to 1 be ultimately owned, operated, and maintained by the Town (as the Town may determine), or are intended to benefit the Town's Godding Hollow property or other property to be owned by or dedicated to the Town or other quasi-municipal entities (as the Town may designate) that provide services to the Project, or are otherwise intended to provide a public benefit (collectively, the "Public Improvements"); and WHEREAS, because of the location of the Project with respect to existing utility services, the condition of existing streets providing access to the Project and other existing conditions of the Original PIRA Property, the Additional PIRA Property and other properties in the vicinity thereof, the scope of required Public Improvements and the cost of constructing the Public Improvements will be significant and extraordinary; and WHEREAS, the Town, AFW and TFD desire to amend and supersede the Original Agreement to revise the mechanism for implementing their agreements regarding cooperative funding of the Public Improvements, to extend the cooperative funding arrangements to cover the Original PIRA Property as well as the Additional PIRA Property, to address TFD's acquisition and ownership of a significant portion of the Project, and to otherwise modify the terms of the Original Agreement in response to changed circumstances subsequent to the execution of the Original Agreement; and WHEREAS, an Amended and Restated Public Improvements Reimbursement Agreement (the "Agreement") has been proposed for such purpose; and WHEREAS, the Board finds that development of the Project with a significant retail sales land use component facilitated by the construction of the Public Improvements, and the cooperation among the Town, AFW and TFD with respect to funding of the Public Improvements costs, is consistent with and necessary to timely achieve the Town's economic goals and objectives and to otherwise promote the best interests of the Town; and WHEREAS, the Board finds that the proposed Agreement is appropriate to further such economic goals and objectives with respect to the Project, which Project is uniquely situated as a regional, interchange-based retail area under the Town's comprehensive plan; and WHEREAS, the Board does not consider the proposed Agreement to represent a policy change of the Town, but rather views the proposed Agreement as a unique opportunity to stimulate development activity within the Project area, which area is uniquely situated as, and is intended to develop as, a regional, interchange-based retail area; and WHEREAS, the Board finds that the development of the Project, the construction of the Public Improvements and the funding mechanisms contemplated by the Agreement are in the best interests of the Town. 2 NOW THEREFORE, BE IT RESOLVED BY THE BOARD OF TRUSTEES OF THE TOWN OF FIRESTONE, COLORADO: Section 1. The Agreement among the Town, AFW and TFD, a copy of which is attached hereto as Exhibit A and incorporated by this reference, is hereby approved. Section 2. The Mayor and Town Clerk are hereby authorized to execute and deliver the Agreement on behalf of the Town; provided, however, that the Mayor is hereby further granted the authority to negotiate and approve such revisions to the Agreement as the Mayor determines are necessary or desirable for the protection or best interests of the Town, so long as the essential terms and conditions of the Agreement are not altered. Section 3. The officers, employees and agents of the Town are hereby authorized and directed to take all action necessary or appropriate to effectuate the provisions of the Agreement. INTRODUCED, READ, and ADOPTED this 27th day of July, 2006 . •• ··~·01111111 ·····• ••• _ Sf.~L Michael Simone Mayor 3 AMENDED A1"'D RESTATED PUBLIC IMPROVEMENTS REIMBURSEMENT AGREEMENT THIS AMENDED AND RESTATED PUBLIC IMPROVEMENTS REIMBURSEMENT AGREEMENT (this "Agreement"), is made and entered into as of the 31st day of July, 2006 ("Effective Date"), by and among tbe TOWN OF FIRESTONE, COLORADO, a municipal corporation of tbe State of Colorado (the "Town"), AMERICAN FURNITURE WAREHOUSE CO., a Colorado corporation ("AFW"), and THF FIRESTONE DEVELOPMENT, L.L.C., a Missouri limited liability company ("TFD"). RECITALS This Agreement is made with respect to the following facts: A. Capitalized terms used in this Agreement have the meanings set forth in Article I of this Agreement. B. AFW and the Town previously entered into tbat certain Public Improvements Reimbursement Agreement dated as of the 22 nd day of September, 2005 (the "Original Agreement"). The Original Agreement covered the approximately 132.271 acre parcel of real property tbat is legally described in Exhibit A of the Original Agreement (as more particularly described in Exhibit A of this Agreement, the "Original PIRA Property"). The Original Agreement is not a recorded document. C. Subsequent to execution of tbe Original Agreement, the Town approved the plat for Lots I, 2 and 3, American Furniture Warehouse Subdivision, recorded on March 24, 2006, at Reception No. 3373270, and the Replat of Lots 1, 2 and 3, American Furniture Warehouse Subdivision, recorded on _______ , 200_, at Reception No. ____ _ D. Subsequent to execution of the Original Agreement, AFW and TFD entered into a purchase and sale agreement with respect to a portion of the Original PIRA Property. Pursuant to the purchase and sale agreement, AFW will convey to TFD all of the Original PIRA Property other than the AFW Property upon satisfaction of certain contingencies. E. AFW intends to retain ownership of the AFW Property, and has substantially constructed and intends to own and operate on the AFW Property a retail furniture store consisting of not less than 175,000 square feet of retail showroom (the "AFW Facility"). F. The TFD Property consists of the portion of the Original PIRA Property that TFD is acquiring from AFW. Subsequent to the Effective Date, TFD intends to acquire certain additional property that was not subject to the Original Agreement and which is legally described in Exhibit B of this Agreement (the "Supplemental Property"). G. TFD intends to locate and develop upon the TFD Property a number of development sites and structures for retail, light industrial, office and other commercial businesses (the "TFD Facilities"). The TFD Property and the TFD Facilities will be owned by 689324.9 TFD and leased to various retailers or, in some circumstances, will be conveyed by TFD to a successor lessor or to a retail owner/operator. H. Pursuant to separate agreements between them, the Developers will make certain infrastructure and related improvements to serve the Revised PIRA Property, the AFW Facility and the TFD Facilities (collectively, the "Project"), which improvements will include, but are not limited to, the construction of on-site and off-site public streets and sidewalks, street lighting, traffic control devices and signals, landscaping improvements/enhancements to existing trail systems adjacent to the Project, acquisition of public right-of-way, parking areas and facilities, potable water, sanitary sewer, and storm water improvements, including the construction and installation of improvements within the Godding Hollow drainage; relocation of certain oil/gas facilities; the grading and stabilization of soils and water tables; the raising or lowering of the elevation of property to improve access and mitigate flooding conditions; and the acquisition and conveyance to the Town of Colorado Big Thompson water rights. Those improvements which are eligible under the tenns and conditions of this Agreement to be funded from Credit PIF Revenues (as defined in Section I .40 of this Agreement, the "Public Improvements") are specifically identified in Exhibit C oftbis Agreement. I. Because of the location of the Project with respect to existing utility services, the condition of existing streets providing access to the Project and other existing conditions of the AFW Property, the TFD Property and other properties in the vicinity thereof, the scope of required Public Improvements and the cost of constructing the Public Improvements will be significant and extraordinary. J. The Town presently has no budgeted funds to construct the Public Improvements, and generally requires that the costs of public improvements necessitated by development be advanced by the developer. K. The Board of Trustees bas determined that development of the Project witl1 a significant retail sales land use component facilitated by the construction of the Public Improvements, and the cooperation among the Town and Developers as contemplated by this Agreement with respect to funding of the Public Improvements Costs, is consistent with and necessary to timely achieve the Town's economic goals and objectives and to otherwise promote the best interests of the Town. L. The Board of Trustees does not consider this Agreement to represent a policy change of the Town, but rather views this Agreement as a unique opportunity to stimulate economic activity within the Project area. M. Due to their mutual desire to further refine the mechanism for implementing their agreements regarding cooperative funding of the Public Improvements, to extend the cooperative funding arrangements to cover the Revised PIRA Property (including the Supplemental Property upon its incorporation into the Revised PIRA Property as contemplated in this Agreement), to address TFD's acquisition and ownership of a significant portion of the Project, and to otherwise modify the terms of the Original Agreement in response to changed circumstances since execution of the Original Agreement, the Parties wish to amend, restate and supercede the Original Agreement in its entirety as set forth in this Agreement. 689324.9 2 NOW, THEREFORE, in consideration of the recitals set forth above, which are fully incorporated herein by reference, and the mutual covenants, agreements and provisions contained in this Agreement, the receipt and sufficiency of which arc hereby acknowledged, the Parties covenant and agree as follows: ARTICLE I DEFINITIONS For the purposes of this Agreement, the following terms will have the meanings set forth below. Section 1.01 Accrued Interest. Interest accrued on the Eligible Costs by application of a per annum simple interest rate equivalent to the lower of (i) Prime Rate (defined below) or (ii) 7.00% to the umeimbursed principal amount of AFW's Costs and/or TFD's Costs, as applicable, with interest to accrue on the unpaid principal amount beginning on the date that the Town issues its "conditional acceptance" letter accepting each phase of the Public Improvements, as detem,ined by reference to the applicable Subdivision Improvement Agreement, and continuing through and including the date of payment. For purposes of this Section 1.01, "Prime Rate" means the prime rate as published in the Wall Street Journal on the first business day of each calendar month during the Credit PIF Period, and will be adjusted on a current monthly basis during the Credit PIF Period as of the first business day of each calendar month. Section 1.02 Add-On PIF. The component of the PIF which will be set at a rate not to exceed one percent (I .00%) in accordance with the tern1s and conditions of the PIF Covenant, and which will be applied to Taxable Transactions (and such other transactions as may be authorized under the PIF Covenant from time to time) before the calculation of applicable sales taxes and/or use taxes, but which is not offset by a Sales/Use Tax Credit. Section 1.03 Add-On PIF Revenues. The revenues generated from imposition and collection of the Add-On PIF pursuant to the terms of the PIF Covenant. Section 1.04 AFW. As defined in the introductory paragraph of this Agreement, together with the AFW PIC and/or other successors and assigns to the extent provided in this Agreement. Section 1.05 AFW Costs. As more particularly set forth in Exhibit C of this Agreement, the principal amount of the actual cost of the engineering, construction engineering, construction survey and construction (labor and materials) of the AFW In,provements that are eligible (together with Accrued Interest thereon) for reimbursement from the Credit PIF Revenues during the Credit PIF Period pursuant to the terms and conditions of this Agreement; excluding, however, costs for design, planning, legal, accounting, overhead or administrative staffing, financing, and other associated "soft" costs. Section 1.06 AFW Facility. As defined in Recital E of this Agreement. Section 1.07 AFW Facility Improvements. The AFW Facility building, parking area and related on-site improvements for the AFW Facility as described in the Approved Plans. 689324.9 3 Section 1.08 AFW Facility Revenues. Collectively, the following aggregate revenues and credits generated from Taxable Transactions occurring within the AFW Property during the Credit PIF Period: (i) use taxes ( on building materials only) and sales taxes collected by the Town; (ii) minus Sales/Use Tax Credits applied to the foregoing; (iii) plus Credit PJF Revenues collected by the PIF Collecting Agent/Trustee. Section 1.09 AFW Improvements. As more particularly set forth in Exhibit C of this Agreement, that portion of the Public Improvements with respect to which, subject to the terms and conditions of this Agreement, AFW has the obligation to construct and with respect to which AFW is entitled to reimbursement of the AFW Costs. Section 1.10 AFW PIC. The non-profit corporation to be established by AFW to function as the public improvement company for the purpose of receiving Credit PIF Revenues in order to facilitate financing and construction of the Public Improvements, subject to the terms of this Agreement and the PJF Covenant, and/or receiving the Add-On PIF Revenues generated from the AFW Property in order to facilitate financillg and construction of additional infrastructure, public and private improvements, and other functions subject to the tem1s of the PIF Covenant. Section 1.11 AFW Property. The real property identified as the AFW Property and legally described in Exhibit A of this Agreement. Section 1.12 Agreement. As defined in the introductory paragraph of this Agreement. Section 1.13 Approved Plans. The following documents for the Project, which will be in the form required and approved by the Town, as amended from time to time with the approval of the Town and the applicable Developer: (i) the Final Development Plan for the AFW Facility; (ii) each Final Development Plan for all or any portion of the TFD Facilities; (iii) the Final Plats; (iv) the Final Utility Plan; and (v) the Subdivision Improvement Agreements. Section 1.14 Board. The Board of Trustees of the ToWll of Firestone, Colorado, as it may be constituted from time to time. Section 1.15 Cap Amount. As initially allocated between the Developers as set forth in this Agreement and Exhibit C to this Agreement, subject to re-allocation pursuant to Section 4.06(d) of this Agreement, the total aggregate principal amount of Eleven Million Dollars ($11,000,000), plus Accrued Interest, which amount is the maximum amount of Credit PIF Revenues available under the terms and conditions of this Agreement to reimburse the PICs and/or the Developers for Public Improvements Costs. Section 1.16 Code. The municipal code of the Town of Firestone, as amended from time to time. Section 1.17 Construction Activities. Construction activities within the Project which are subject to the Town's use tax pursuant to the Code, are subject to the Sales/Use Tax Credit pursuant to the terms of this Agreement, and are subject to the PIF pursuant to the terms of this Agreement and the PIF Covenant. 689324,9 4 Section 1.18 Covered Losses. As defined in Section 6.04(b ). Section 1.19 Credit PIF. The component of the PIF that is set at the rate of one and twenty-five one hundredths percent (1.25%) pursuant to the PIF Covenant, and which when applied to Taxable Transactions occurring during the Credit PIF Period will result in an offsetting credit against the sales and use tax obligation under the Code pursuant to the terms of the Sales/Use Tax Credit as provided in this Agreement. Section 1.20 Credit PIF Period. As inore specifically set forth in Section 4.03 of this Agreement, the period during which the Sales/Use Tax Credit is in effect. Section 1.21 Credit PIF Revenues. The revenues generated from the Credit PIF, together with all interest earned thereon while on deposit with the PIF Collecting Agent/Trustee. Section 1.22 Cure Period. As defined Section 6.0l(c). Section 1.23 Developer(s). American Furniture Warehouse Co., a Colorado corporation, and/or THF Firestone Development, L.L.C., a Missouri limited liability company, individually or collectively as the context dictates, together with their respective successors and assigns, including the PICs. Section 1.24 Effective Date. As defined in the initial paragraph of this Agreement. Section 1.25 Eligible Costs. The aggregate total amount of the AFW Costs and the TFD Costs as set forth in Exhibit C of this Agreement, which costs are eligible for reimbursement from Credit PIF Revenues, subject to the Cap Amount and the other terms and conditions of this Agreement. Section 1.26 Event of Default. As defined in Section 6.01. Section 1.27 Exhibit(s). Individually, one of the following Exhibits to this Agreement and/or, collectively, all of the following Exhibits to this Agreement, as the context dictates, which Exhibits are incorporated into and made a part of this Agreement: Exhibit A: Legal Description of the Revised PIRA Property ( consisting of Parcel A -the AFW Property, and Parcel B -the TFD Property) Exhibit B: Legal Description of Supplemental Property Exhibit C: Schedule of Public Improvements and Eligible Costs Section 1.28 Final Development Plan. As defined in Section 17.22.070 of the Code and Chapter IO of the Firestone Development Regulations. Section 1.29 Final Plats. Colle_ctively, (i) the plat for Lots I, 2 and 3, American Furniture Warehouse Subdivision, recorded on March 24, 2006, at Reception No. 3373270; 689324.9 5 (ii) the Replat of Lots I, 2 and 3, American Furniture Warehouse Subdivision, recorded on _______ , 200_, at Reception No. _____ ; (iii) the final subdivision plat for the Supplemental Property; and (iv) any final subdivision plat or rep lat for all or any portion of the Project thai the Town approves after the Effective Date. Section 1.30 Final Utility Plan. One or more utility plans for the Project, as approved and signed by the Town. Section 1.31 Original Agreement. As defined in Recital B of this Agreement. Section 1.32 Original PIRA Property. As defined in Recital B of this Agreement, and as legally described in Exhibit A of this Agreement. Section 1.33 Party(ies). Individually or collectively, as the context dictates, the original signatory or signatories of this Agreement, or, to the extent of any written assignment by a Party of that Party's rights under Section 7.01 of this Agreement a copy of which has been delivered to the other Parties pursuant to Section 7 .10 of this Agreement, such assignee. Section 1.34 PICs. Collectively, the TFD PIC and AFW PIC. Section 1.35 PIF. Collectively, the Credit PIF and the Add-On PIF, which are public improvement fees to be imposed by AFW and TFD through recordation of the PIF Covenant. Section 1.36 PIF Covenant. That certain privately imposed Declaration of Covenants Imposing and Implementing the Firestone City Centre Public Improvements Fee to be recorded by TFD and AFW as a covenant burdening and benefiting the Revised PIRA Property, as amended from time to time in accordance with its terms. Section 1.37 PIF Collecting Agent/Trustee. The entity to be engaged by the PICs and the Developers as the collecting agent and trustee for disbursement and accounting of PIF revenues pursuant to a PIF Collection Services and Trustee Agreement as in effect from time to time, and which is authorized to undertake the duties of the PIF Collecting Agent/Trustee as described in Section 4.05 of this Agreement. Section 1.38 PIF Collection Services and Trustee Agreement. An agreement pursuant to which the PIF Collecting Agent/Trustee will collect, disburse and account for the Credit PIF Revenues in accordance with the terms and conditions of this Agreement and of the PIF Covenant, and may collect, disburse and account for the Add-On PIF Revenues in accordance with the terms and conditions of the PIF Covenant. Section 1.39 Project. As defined in Recital H of this Agreement. Section 1.40 Public Improvements. The AFW Improvements and the TFD Improvements, collectively, as more particularly described in Exhibit C of this Agreement. Section 1.41 Public Improvements Costs. The actual costs of financing, designing and construction the Public Improvements as set forth (or estimated) in Exhibit C of this Agreement, together with Accrued Interest thereon as provided in this Agreement; excluding, 689324.9 6 however, costs for design, planning, legal, accounting, overhead or administrative staffing, financing, and other associated "soft" costs. Section 1.42 Related Parties. As defined in Section 6.04(b ). Section 1.43 Revised PIRA Property. The real property that is legally described in Exhibit A of this Agreement. Section 1.44 Sales/Use Tax Credit. The credit against Town use tax (on building materials only) and Town sales tax on Taxable Transactions occurring within the Revised PIRA Property which the Town will consider and take final action on in accordance with Section 4.02 of this Agreement, the rate of which will be 1.25% at all times during the Credit PIF Period. Section 1.45 Subdivision Improvement Agreement(s) ("SIA(s)"). One or more agreements executed from time to time by a Developer of the relevant area of the Revised PIRA Property (and/or the applicable PIC) and the Town governing the design, planning, engineering and construction of the Public Improvements, the posting of security for the same, the procedure for inspection and acceptance of the same by the Town, and other relevant provisions concerning the completion of the Public Improvements and development of the Project. Section 1.46 Supplemental Property. As defined in Recital F of this Agreement and legally described in Exhibit B of this Agreement. Section 1.47 Taxable Transaction. The sale or provision of goods or services which are subject to Town use taxes ( on building materials only) and/or Town sales taxes. Section 1.48 TFD. As defined in the introductory paragraph of this Agreement, together with the TFD PIC and/or other successors and assigns to the extent provided in this Agreement. Section 1.49 TFD Costs. As more particularly set forth in Exhibit C of this Agreement, the principal amount of the actual cost of the engineering, construction engineering, construction survey and construction (labor and materials) of the TFD Improvements that are eligible (together with Accrued Interest thereon) for reimbursement from the Credit PIF Revenues during the Credit PIF Period pursuant to the terms and conditions of this Agreement; excluding, however, costs for design, planning, legal, accounting, overhead or administrative staffing, financing, and other associated "soft" costs. Section 1.50 TFD Facilities. As defined in Recital G of this Agreement. Section 1.51 TFD Facilities Improvements. The buildings, parking areas and related on-site improvements for the TFD Facilities as described in the Approved Plans. Section 1.52 TFD Facilities Revenues. Collectively, the following aggregate revenues and credits generated from Taxable Transactions occurring within the TFD Property during the relevant increment of the Credit PIF Period: (i) use taxes ( on building materials only) and sales taxes collected by the Town; (ii) minus Sales/Use Tax Credits applied to the foregoing; (iii) plus Credit PIF Revenues collected by the PIF Collecting Agent/Trustee. 689324.9 7 Section 1.53 TFD Improvements. As more particularly set forth in Exhibit C of this Agreement, that portion of the Public Improvements with respect to which, subject to the terms and conditions of this Agreement, TFD will construct and with respect to which TFD is entitled to reimbursement of the TFD Costs. Section 1.54 TFD PIC. The non-profit corporation to be established by TFD to function as the public improvement company for the purpose of receiving Credit PIF Revenues in order to facilitate financing and construction of the Public Improvements subject to the terms of this Agreement and the PIF Covenant, and/or receiving the Add-On PIF Revenues generated from the TFD Property in order to facilitate financing and construction of additional infrastructure, public and private improvements, and other functions subject to tbe tem1s of the PIF Covenant. Section 1.55 TFD Property. The real property identified as tbe TFD Property and legally described in Exhibit A of this Agreement (together with the Supplemental Property when and ifTFD acquires title to the Supplemental Property). Section 1.56 Town. As defined in the introductory paragraph of this Agreement. ARTICLE II PURPOSE AND EFFECT Section 2.01 Purpose and Effect. Upon satisfaction of tbc condition set forth in Section 4.02(a) of this Agreement, this Agreement will amend, restate and supcrccde the Original Agreement in its entirety. Upon mutual execution and delivery of this Agreement following approval by the Board in accordance with applicable law, the Original Agreement will be of no further force and effect as of the date on which the ordinance establishing the Sales/Use Tax Credit pursuant to Section 4.02 of this Agreement becomes legally effective. The purposes of this Agreement arc to (i) extend the cooperative funding arrangement established by the Original Agreement to cover all of tbe Revised PIRA Property; (ii) implement the cooperative funding arrangement through use of the Credit PIF and Sales/Use Tax Credit mechanism; (iii) address TFD's acquisition of the TFD Property; and (iv) otheiwise modify and update the terms of the Original Agreement in response to changed circumstances since the execution of the Original Agreement. Section 2.02 Recordation; Covenants. Upon the later to occur of (i) mutual execution of this Agreement after Board approval as provided in Section 2.01 of this Agreement, or (ii) the effective date of the ordinance or resolution approving this Agreement, or (iii) the date on which the ordinance establishing the Sales/Use Tax Credit becomes legally effective, the Town will cause this Agreement, or a memorandum of this Agreement in a fom1 reasonably approved by the Parties, to be recorded at Developers' cost in the real property records of Weld County, Colorado, Clerk and Recorder for the purpose of providing record notice of this Agreement. Upon recordation as provided in this Section 2.02 and subject to the terms and conditions set forth in this Agreement, the burdens and benefits of this Agreement will bind and inure to the benefit of all Parties and all successors in interest to the Parties, subject, however, to the restriction on assignment pursuant to Section 7.01 of this Agreement. As between the Parties, 689324.9 8 the validity or enforceability of this Agreement will not be affected by any delay in or failure to record this Agreement ( or memorandum thereof) as provided herein. ARTICLE III REPRESENTATIONS AND COVENANTS Section 3.01 Representations of the Town. The Town represents that, a_s of the Effective Date: (a) The Town is a municipal corporation of the State of Colorado; (b) There is no litigation or administrative proceeding pending or, to the knowledge of the Town, threatened, seeking to question the authority of the Town to enter into, implement or perform the Sales/Use Tax Credit, this Agreement or the Original Agreement; and (c) The Town reasonably believes that it has the authority to enter into this Agreement and to implement the Sales/Use Tax Credit, and, assuming such authority, the Board has duly authorized this Agreement to be executed on behalf of the Town. By entering into this Agreement, Developers acknowledge and accept that no representation or warranty of enforceability of this Agreement or of the Sales/Use Tax Credit is made by the Town. Section 3.02 Covenants of the Town. The Town covenants that it will cooperate with Developers in Developers' efforts to defend against any challenge or litigation brought by a third party concerning the Public Improvements, the Sales/Use Tax Credit or this Agreement; provided, however, that the Town is not obligated to expend any monies for such defense, including without limitation attorneys' fees, costs, or any other professional fees. Section 3.03 Covenants by Developers. (a) Subject to the terms and conditions of this Agreement, (1) AFW covenants that it will cause the AFW Improvements and the AFW Facility to be constructed in a manner consistent with the Approved Plans, and (2) TFD covenants that it will cause the TFD Improvements and the TFD Facilities to be constructed in a manner consistent with the Approved Plans. Nothing in this Agreement has obligated the Town to approve such plans, as such approval remains subject to the Town's normal land development review process as noted in Section 7.12. (b) In constructing and placing the Project in operation, and with respect to the Public Improvements, AFW (with respect to the AFW Facility and the AFW Improvements) and TFD (with respect to the TFD Facilities and the TFD Improvements) will comply with: (I) all Town ordinances, resolutions, rules, regulations and procedures, including without limitation all zoning and subdivision codes, development regulations, uniform codes, street and utility construction and design requirements, and the Final Utility Plan; (2) all applicable federal, state and county statutes, codes, rules, regulations, and ordinances; (3) any applicable requirements of quasi-municipal entities providing services to the Project (e.g., water and sewer services); and ( 4) the SIAs. 689324,9 9 (c) As a condition to the PIF Collecting Agent/Trustee's disbursement of Credit PIF Revenues to the applicable Developer and/or PIC pursuant to this Agreement, AFW (with respect to the AFW Costs) and TFD (with respect to the TFD Costs) will provide to the PIF Collecting Agent/Trustee and the Town a certification of such costs from a licensed Colorado civil engineer pursuant to the terms and conditions of Section 4.08 of this Agreement. (d) AFW (with respect to the AFW Improvements) and TFD (with respect to the TFD Improvements) will ensure that any monetary encumbrance or lien that has been or may be created on or attached to any Public Improvements, whether by voluntary act of the applicable Developer or otherwise, will be removed in its entirety prior to the conveyance of any Public Improvements to the Town or other,quasi-municipal entities providing services to the Project (e.g., water and sewer services), as applicable, such that the same are free and clear of any lien or monetary encumbrance. (e) AFW (with respect to the AFW Improvements) and TFD (with respect to the TFD Improvements) will comply with the indemnity obligations as set forth in Section 6.04(b) of this Agreement. (f) AFW (with respect to the AFW Facility) and TFD (with respect to the TFD Facility) agree that the AFW Facility and the TFD Facilities will comply with all requirements of the Town for security for construction of the Public Improvements and the execution of the SIAs. Section 3.04 Representations of AFW. AFW represents that, as of the Effective Date: (a) AFW is a corporation duly organized and validly existing under the laws of the State of Colorado, is authorized to do business in the State of Colorado, is not in violation of any provisions of its organizational or operating agreements, has the power and legal right to enter into this Agreement and has duly authorized the execution, delivery and performance of this Agreement by proper action, which Agreement will be enforceable against AFW in accordance with its terms; (b) The consummation of the transactions contemplated by this Agreement will not violate any provisions of the governing documents of AFW or constitute a default or result in the breach of any term or provision of any contract or agreement to which AFW is a party or by which it is bound; (c) There is no litigation, proceeding or investigation contesting the power or authority of AFW with respect to the AFW Facility, the AFW Property, this Agreement, the Original Agreement or the AFW Improvements, and AFW is unaware of any such litigation, proceeding, or investigation that has been threatened; and (d) Pending closing of the transaction described in Recital D of this Agreement, AFW is the sole owner of fee title to the Original PIRA Property and will be the sole owner of fee title to the AFW Property following the closing of the transaction described in Recital D of this Agreement. 689324.9 10 Section 3.05 Representations of TFD. TFD represents that, as of the Effective Date: (a) TFD is a limited liability company duly organized and validly existing under the laws of the State of Missouri, is authorized to do business in the State of Colorado, is not in violation of any provisions of its organizational or operating agreements, has the power and legal rigbt to enter into this Agreement and bas duly authorized the execution, delivery and performance of this Agreement by proper action, which Agreement will be enforceable against TFD in accordance with its terms; (b) The consummation of the transactions contemplated by this Agreement will not violate any provisions of the governing documents of TFD or constitute a default or result in the breach of any term or provision of any contract or agreement to which TFD is a party or by which it is bound; (c) There is no litigation, proceeding or investigation contesting the power or authority of TFD with respect to the TFD Facilities, the TFD Property, this Agreement, or the TFD Improvements, and TFD is unaware of any such litigation, proceeding, or investigation that has been threatened; and (d) Upon closing of the transaction described in Recital D of this Agreement and execution of this Agreement, TFD will be sole owner of fee title to the TFD Property. Section 3.06 Mutual Covenants Regarding Development Obligations. (a) The Public Improvements obligations described in this Agreement, together with the rigbt to receive reimbursement therefor from Credit PIF _Revenues, are intended to be allocated between the Developers as set forth in Exhibit C of this Agreement, with the responsibility for the AFW Improvements and right to be reimbursed for the AFW Costs allocated solely to AfW, and the responsibility for the TFD Improvements and the right to be reimbursed for the TFD Costs allocated solely to TFD. To the extent that this Agreement does not specifically allocate Public Improvements obligations, the allocation will be set forth in an SIA executed in connection with the processing and approval of the applicable development approval for a specific site. References to Developers in the context of the Public Improvements obligations and reimbursement rights addressed in this Agreement will be construed to include by reference the applicable PIC to the extent the particular PIC has assumed the obligations of a Developer and/or incurred costs for Eligible Improvements with respect to those Public Improvements pursuant to the terms of this Agreement and/or an SIA. The applicable Developer for any development application submitted after the Effective Date will provide an improvement guarantee assuring completion of the applicable Public Improvements as required by the Code, and as more particularly described in the applicable SIA to be executed in connection with such future development application approval. (b) This Agreement will not be construed to create an implied obligation upon either Developer to develop that Developer's portion of the Project or upon either Developer or either PIC to design, construct and/or.finance all or any portion of the Public Improvements. Except to the extent expressly set forth in any SIA executed prior to or subsequent to the Effective Date, neither Developer will have any liability to the Town, either PIC, or any other Party arising out 689324.9 11 of this Agreement for failure to develop all or any of portion of the Project, and neither PIC will have any liability to the Town, either Developer, or any other Party arising out of this Agreement for failure to design, construct and/or finance any of the Public Improvements. This Section 3.06(b) will not be construed as relieving the applicable Developer and/or the applicable PIC of any express obligation to construct any Public Improvement imposed by any SIA executed by such Developer and/or PIC prior to or subsequent to the Effective Date. (c) Upon recordation of the deed by which TFD acquires record title to the Supplemental Property, the Supplemental Property will be deemed a part of the TFD Property and a part of the Revised PIRA Property for all purposes under this Agreement, and all terms and conditions of this Agreement will attach to, touch and concern the Supplemental Property without the need of further action by the Parties. Notwithstanding the foregoing, which will be self-executing, TFD and the Town will execute and record an amendment to this Agreement pursuant to Section 7.02(c) of this Agreement at TFD's expense, for the sole purpose of providing record notice that the Supplemental Property has been incorporated into the TFD Property and the Revised PIRA Property as provided in this Section 3.06(c); provided, however, that any delay in or failure to record the amendment will not be construed as negating the self- executing nature of this Section 3.06(c) or as invalidating or precluding application of this Agreement to the Supplemental Property as set forth herein. Prior to recordation of the deed by which TFD acquires record title to the Supplemental Property, this Agreement will not constitute or be construed to constitute an encumbrance on or to create any burden or benefit affecting the Supplemental Property or any owner of the Supplemental Property ( other than TFD or its successors and assigns after recordation of the deed). ARTICLE IV REIMBURSEMENT OF ELIGIBLE COSTS Section 4.01 Credit PIF Revenues. lo consideration of Developers' agreement to impose the Credit PIF on Taxable Transactions (including Construction Activities) pursuant to the PIF Covenant, and in further consideration of Developers' agreement to utilize the Credit PIF Revenues solely to fund Eligible Costs incurred for design and construction of the Public Improvements as set forth in this Agreement, the Town will grant a Sales/Use Tax Credit to retailers and building permit applicants who are subject to and actually pay the Credit PIF to the PIF Collecting Agent/Trustee during the Credit PIF Period in accordance with the terms and conditions of this Agreement. Section 4.02 Implementation of Sales/Use Tax Credit; Condition Precedent to Effectiveness of Agreement. (a) Approval of Sales/Use Tat Credit Ordinance. In order to implement the Sales/Use Tax Credit, and as a condition precedent to the effectiveness of this Agreement, the Board will, concurrently with approving this Agreement or within thirty (30) days thereafter, approve an ordinance amending its Code provisions regarding municipal use tax (on building materials only) and sales tax to provide for and implement the Sales/Use Tax Credit substantially as follows: During the Credit PIF Period, each person or entity otherwise liable to the Town for sales taxes or use taxes (on building materials only) under the Code with respect to Taxable Transactions (including Construction Activities) occurring within the Project will receive a credit 689324.9 12 (i.e., the Sales/Use Tax Credit) against such Town use tax rate (on building materials only) and/or Town sales tax rate obligation in an amount equal to 1.25% to the extent the Credit PIF Revenues are collected and received by the PIF Collecting Agent/Trustee. Such Sales/Use Tax Credit will be automatic and will take effect immediately upon the applicable retailer's (as reflected on the retailer's periodic sales tax report) or building permit applicant's remittance to and receipt by the PIF Collecting Agent/Trustee of the Credit PIF Revenues; provided, however, that the transactions and payments supporting the Sales/Use Tax Credit for any given period will nevertheless be subject to audit by the Town (or its designee) to the same extent, for the same limitations periods and in the same manner as the items which are required to be reported on the taxpayer's return relating to the period in which the transaction occurs. If the Board fails to adopt the ordinance contemplated in this Section 4.02(a) within thirty (30) days of the date on which the Board approves this Agreement, the Parties may .extend the period for satisfaction of the foregoing contingency to a date certain set forth in a written notice of extension; provided, however, that this Agreement will not be legally effective, and the Original Agreement will remain in force and effect according to its terms, unless and until the Board has granted its final, non-appealable approval of the ordinance implementing the Sales/Use Tax Credit. (b) Rate of Credit PIF. Pursuant to their authority under the PIF Covenant, Developers will set the rate of the Credit PIF at one and twenty-five one-hundredths percent (1.25%) as applied to Taxable Transactions (including Construction Activities) during the Credit PIF Period, and upon expiration of the Credit PIF Period will tenninate and no longer impose the Credit PIF. Section 4.03 Duration of Credit PIF Period. The Credit PIF Period will commence on the later to occur of (i) the date that the Sales/Use Tax Credit becomes effective, or (ii) the date on which the initial Taxable Transaction resulting from a retail sales transaction occurs within the Project, and will continue until the earlier to occur of: (A) disbursement of Credit PIF Revenues in an amount sufficient to fully reimburse AFW for the AFW Costs and to fully reimburse TFD for the TFD Costs (including reimbursements to the applicable Developer of funds advanced, and Accrued Interest thereon, for Eligible Costs pursuant to reimbursement agreements that have been executed prior or subsequent to the Effective Date), subject to the Cap Amount; or (B) the 20 th anniversary of the date on which the Credit PIF Period commences, unless such period is extended as provided in Section 4.12(1) of this Agreement. Upon expiration of the Credit PIF Period, the Sales/Use Tax Credit will terminate and the Credit PIF will terminate except as otherwise set forth in Section 4.13 of this Agreement. Any Credit PIF Revenues then remaining on deposit with the PIF Collecting Agent/Trustee, or subsequently remitted by the PIF Collecting Agent/Trustee with respect to Taxable Transactions occurring prior to expiration of the Credit PIF Period, will be disposed of pursuant to Section 4.04 of this Agreement. Notwithstanding expiration of the Credit PIF Period, all Credit PIF Revenues generated from Taxable Transactions occurring before expiration of the Credit PIF Period will continue to be collected by the PIF Collecting Agent/Trustee as otherwise provided in this Agreement and the PIF Collection Services and Trustee Agreement. Section 4.04 Disposition of Funds Upon Expiration of the Credit PIF Period. Upon expiration of the Credit PIF Period as provided in Section 4.03 of this Agreement, if there are Credit PIF Revenues remaining on deposit with the PIF Collecting Agent/Trustee, the PIF Collecting Agent/Trustee will disburse the funds in the following priority: (a) to the extent that 689324.9 13 the Cap Amount has not been reached and either Developer has incurred or will be incurring Eligible Costs for which the PIF Collecting Agent/Trustee has not disbursed Credit PIF Revenues to reimburse the applicable Developer (including principal and Accrued Interest advanced by the applicable Developer for Eligible Costs pursuant to a reimbursement agreement with the applicable Developer), the PIF Collecting Agent/Trustee will hold the funds until the applicable PIC has been fully reimbursed pursuant to the terms and conditions of this Agreement or there are no remaining Credit PIF Revenues on deposit with the PIF Collecting Agent/Trustee; and then (b) after each Developer has been fully reimbursed for its portion of the Eligible Costs as provided in this Agreement, and to the extent there are Credit PIF Revenues remaining on deposit with the PIF Collecting Agent/Trustee, the PIF Collecting Agent/Trustee will disburse such funds to the Town. Section 4.05 Responsibilities of PIF Collecting Agentfl'rustee. Pursuant to a PIF Collection Services and Trustee Agreement and as more fully set forth therein, the P!Cs, and the Developers will engage a PIF Collecting Agent/Trustee to collect, disburse and account for the Credit Plf Revenues and the Add-On PIF Revenues as generally described below. The Town will have the right to approve the form of the Plf Collection Services and Trustee Agreement prior to its execution by the Developers, the PI Cs and the PIF Collection Agent/Trustee. (a) Collection of Credit PIF Revenues. The Plf Covenant designates the P!Cs as the PIF Collecting Agent (as defined in the Plf Covenant). As more particularly set forth in a PIF Collection Services and Trustee Agreement to be executed after the Town's adoption of the Sales/Use Tax Credit ordinance as contemplated in Section 4.02 of this Agreement and prior to commencement of the Credit PIF Period, the PI Cs will designate a PIF Collecting Agent/Trustee to receive the Credit PIF Revenues on behalf of the PICs, to collect the Credit PlF Revenues from retailers and persons engaged in Construction Activities within the Project, and to disburse the Credit PlF Revenues as provided in this Agreement and the PlF Collection Services and Trustee Agreement. The Town will coordinate with the PICs, the Developers and the State of Colorado Department of Revenue with respect to utilization of and any necessary modifications to the sales tax reporting forms for reporting with respect to the Taxable Transactions by all retailers within the Revised PI.RA Property during the Credit PIF Period. The Town also will coordinate and cooperate with the PICs and the Developers to monitor and verify, to the extent possible, that if a retailer has taken a Sales Tax Credit on a Taxable Transaction subject to the Town's sales tax, the retailer has remitted the corresponding Credit PIF Revenues to the PIF Collecting Agent/Trustee. The Town also will coordinate with the PICs and the Developers with respect to verifying that persons engaged in Construction Activities within the Project have paid the Credit PIF to the PlF Collecting Agent/Trustee in the appropriate amount prior to issuance of a building permit by the Town. The Developers will reimburse the Town for its reasonable costs incurred in coordinating with the PICs, the Developers and the Department of Revenue with respect to implementation, verification and monitoring of the Credit Plf, and the Plf Collecting Agent/Trustee's collection and disbursement of the Credit PIF Revenues. (b) Trustee Functions With Respect to Credit PIF Revenues. The PIF Collection Services and Trustee Agreement will include, without limitation, the following minimum provisions relating to the Credit PIF Revenues: 689324.9 14 (I) The PIF Collecting Agent/Trustee will receive all Credit PIF Revenues remitted by retailers and persons engaged in Construction Activities within tbe Project. (2) The PIF Collecting Agent/Trustee will hold all Credit PIF Revenues in a segregated account. (3) Tbe PIF Collecting Agent/Trustee will invest the Credit PIF Revenues as directed by the PICs and in accordance with applicable law. (4) The PIF Collecting Agent/Trustee will keep accurate books and records of all deposits of Credit PIF Revenues, including investment earnings thereon, and all disbursements of Credit PIF Revenues as provided in Section 4.06 of ·this Agreement, which books and records will be available for inspection and audit (pursuant to Section 5.01 of this Agreement) during regnlar business hours by Developers, the PICs and the Town at the sole cost and expense of the Developers. (5) Within thirty (30) days after the last day of the immediately preceding calendar quarter, the PIF Collecting Agent/Trustee will provide unaudited quarterly reports of all Credit PIF Revenues received and/or disbursed in the immediately preceding calendar quarter, at Developers' cost, to the Town and the PICs, which report will contain all information referenced in subsection (4) above. (6) Upon receipt of the requisite certification of Eligible Costs as provided in Section 4.08 of this Agreement, and subject to the allocation of Cap Amount set forth in Section 4.06 of this Agreement, the PIF Collecting Agent/Trustee will remit to the applicable PIC the appropriate reimbursement amount from available Credit PIF Revenues on deposit with the PIF Collecting Agent/Trustee. (7) Upon expiration of the Credit PIF Period, the PIF Collecting Agent/Trustee will disburse any remaining Credit PIF Revenues as generally provided in Section 4.04 of this Agreement. (8) The Developers will pay all fees and expenses owed to the PIF Collecting Agent/Trustee for its services pursuant to the PIF Collection Services and Trustee Agreement, and such fees and expenses will not be paid from Credit PIF Revenues. (c) Collection and Disbursement of Add-On PIF Revenues. The AFW PIC will be the collecting agent for Add-On PIF Revenues generated from Taxable Transactions occurring within tbe AFW Property, and the TFD PIC will be the collecting agent for the Add-On PIF Revenues generated from Taxable Transactions occurring within the TFD Property. Pursuant to the PIF Collection Services and Trustee Agreement, either or both of the PICs may designate the PIF Collecting Agent/Trustee to receive the applicable PIC's Add-On PIF Revenues and to remit the applicable Add-On PIF Revenues to that PIC in accordance with the terms and conditions of the PIF Covenant. Collection and utilization of the Add-On PIF Revenues will be administered pursuant to the terms and conditions of the PIF Covenant and, to the extent applicable, the PIF Collection Services and Trustee Agreement. 689324.9 15 Section 4.06 Disbursement of Credit PIF Revenues. The· PIF Collecting Agent/Trustee will be required to maintain an accounting of the amount of the AFW Costs and the amount of the TFD Costs, together with Accrued Interest thereon, that have been expended on the AFW Improvements and the TFD Improvements, respectively (based solely on the certifications submitted to the PIF Collecting Agent/Trustee by the applicable PIC pursuant to Section 4.08 of this Agreement), the amount of Credit PIF Revenues that the PIF Collecting Agent/Trustee has disbursed to reimburse the AFW PIC for the AFW Costs and to the TFD PIC for the TFD Costs. As between AFW and TFD, the Cap Amount will be allocated as follows: (a) Subject to compliance with Section 4.08 of this Agreement and the overall Cap Amount, AFW (and/or the AFW PIC) will be entitled to receive reimbursement from the PIF Collecting Agent/Trustee a maximum amount of Credit PIF Revenues on deposit with the PIF Collecting Agent/Trustee equal to the AFW Costs. (b) Subject to compliance with Section 4.08 of this Agreement and the overall Cap Amount, TFD (and/or the TFD PIC) will be entitled to receive reimbursement from the PlF Collecting Agent/Trustee a maximum amount of Credit PIF Revenues on deposit with the PIF Collecting Agent/Trustee equal to the TFD Costs. (c) Prior to the date on which either PIC has received Credit PIF Revenues sufficient to fully reimburse the AFW Costs or the TFD Costs, as applicable, the PIF Collecting Agent/Trustee will disburse available Credit PlF Revenues on deposit with the PIF Collecting Agent/Trustee in the following allocation: (i) AFW -34.14%; and (ii) TFD -65.86%. In implementing this Section 4.06(c), the PIF Collecting Agent/Trustee will disburse available Credit PIF Revenues in the foregoing allocations as applied to certified reimbursement requests pursuant to Section 4.08 of this Agreement during any period in which both the AFW PIC and the TFD PIC have facially valid reimbursement requests pending and unpaid. However, if either PIC does not have a pending and unpaid facially valid reimbursement request at a time when Credit PIF Revenues are available for reimbursement and the other PIC does have a pending unpaid facially valid reimbursement request submitted to the PIF Collecting Agent/Trustee, the PIF Collecting Agent/Trustee will be authorized to disburse up to 100% of the then available Credit PIF Revenues to satisfy such PIC's pending and unpaid facially valid reimbursement request(s), subject to any reserve requirements set forth in the PIF Collection Services and Trustee Agreement. (d) After the date on which the applicable PIC has received full reimbursement of the AFW Costs or TFD Costs, as applicable, the PIF Collecting Agent/Trustee will disburse up to 100% of available Credit PIF Revenues then on deposit with the PIF Collecting Agent/Trustee (subject to any reserve requirements set forth in the PIF Collection Services and Trustee Agreement) to the TFD PIC or the AFW PIC, as applicable, upon receipt of a facially valid certification pursuant to Section 4.08 of this Agreement. After all Public Improvements to be constructed have been constructed and granted final acceptance by the Town, and to the extent that one of the P!Cs (as reflected in one or more facially valid certifications submitted pursuant to Section 4.08 of this Agreement) has incurred actual costs for Eligible Expenses in excess of the total TFD Costs or total AFW Costs, as applicable, as set forth in Exhibit C of this Agreement, the PIF Collecting Agent/Trustee will be authorized, subject to the overall Cap Amount, to allocate and disburse to the PIC with excess Eligible Costs an amount of Credit PIF 689324.9 16 Revenues up to the amount of Credit PIF Revenues, if any, that were not utilized by the other PIC. Section 4.07 Use of Credit PIF Revenues. Developers will use the Credit PIF Revenues only for principal retirement, Accrued Interest and cash disbursements for Eligible Costs incurred with respect to the design, construction and financing of Eligible Costs, which may include servicing debt instruments of the P!Cs and/or reimbursement of principal and Accrued Interest on snms advanced by Developers for Public Improvements. Section 4.08 Certification of Eligible Costs. All disbursements of Credit PIF Revenues by the PIF Collecting Agent/Trustee will be made to the applicable PIC in reimbursement of Eligible Costs (including reimbursements for Eligible Costs by the applicable PIC to the applicable Developer for principal advanced and Accrued Interest thereon pursuant to reimbursement agreements executed by such Parties), subject to the terms of the PIF Collection Services and Trustee Agreement and this Agreement, including, without limitation, the terms and conditions of this Section 4.08. As each Developer incurs Eligible Costs (including reimbursement obligations to the applicable Developer for Eligible Costs incurred and advanced by the Developer pursuant to the reimbursement agreements between the applicable PIC and the applicable Developer), and as a condition precedent to the PIF Collecting Agent/Trustee's disbursement of Credit PIF Revenues in reimbursement therefor, the applicable Developer will deliver to the PIF Collecting Agent/Trustee, with a copy thereof to the Town Finance Director, a certificate from a licensed and registered Colorado civil engineer, certifying the actual amount of Eligible Costs for which reimbursement is being requested, together with a certification of the total amount of Eligible Costs for which the PIC has previously received reimbursement. The certificate will be countersigned by an officer of the applicable PIC and/or the applicable Developer representing that such Eligible Costs have actually been incurred and are qualifying costs for reimbursement from Credit PIF Revenues under this Agreement. Section 4.09 Limitation to Cap Amount and Credit PIF Period. To the extent the aggregate total of the Eligible Costs incurred by Developers (and/or the PI Cs) exceeds the Cap Amonnt or has not been fully reimbursed from Credit PIF Revenues prior to expiration of the Credit PIF Period, the Town will have no obligation to continue the Sales/Use Tax Credit or to reimburse Developers (and/or the applicable PIC) for such excess costs; provided, however, that each Developer (and/or PIC) may utilize their respective Add-On PIF Revenues to pay for such excess costs, in addition to utilizing their respective Add-On PIF Revenues for any other purposes allowed under the PIF Covenant (including, but not limited to, payment of costs incurred by the PIF Collecting Agent/Trustee for its services under the PIF Collection Services and Trustee Agreement and/or for audits of the PIF Collecting Agent/Trustee's records). Unless terminated earlier pursuant to Section 4.12 of this Agreement or extended pursuant to Section 4.13 of this Agreement, the Sales/Use Tax Credit will terminate upon the expiration of the Credit PIF Period. The Town, Developers and the PICs acknowledge that the generation of sales and use tax revenues is entirely dependent upon the success of the Project, and agree that no Party is in any way responsible to any other Party, or to any third party, for the amount of Credit PIF Revenues, Add-On PIF Revenues and sales and use tax revenues actually generated. Section 4.10 Absolute Ceiling on Amounts Payable. The aggregate amount of Credit PIF Revenues that the Developers collectively may receive for reimbursement of Eligible Costs 689)24.9 17 pursuant the terms and conditions of this Agreement will not exceed the Cap Amount. As noted in Section I.OJ of this Agreement, Accrued Interest on the unpaid principal balance will begin to accrue on the date the Town issues its conditional acceptance letter accepting a phase of the Public Improvements within a Town-approved phase of Public Improvements, as detennined by reference to the applicable SIA for any site within the Project. Section 4.11 Annual Appropriation. Nothing in this Agreement is intended to nor will be construed to create any multiple-fiscal year direct or indirect debt or financial obligation on the part of the Town within the meaning of the Constitution or laws of the State of Colorado. To the extent that any of the Town's obligations under this Agreement are declared by a court of competent jurisdiction to constitute an invalid multiple-fiscal year financial obligation pursuant to Article X, Section 20 of the Colorado Constitution such that the performance of the Town's obligations is thereby prevented or made subject to annual appropriation and it is not possible to reform this Agreement in such a manner as to bring the Town's performance of its obligation outside the scope of a multiple-fiscal year obligation pursuant to Article X, Section 20 of the Colorado Constitution or make the Town's performance of its obligations possible or not subject to rurnual appropriation, the Town's performance will be conditioned upon annual appropriation by the Board, in its sole discretion. To the extent such obligations are determined to be subject to annual appropriation, the official or employee charged with the responsibility of formulating the budget proposals is hereby directed to include in the budget proposals for each year sufficient funds to meet the Town's obligations under this Agreement. Section 4.12 Acknowledgement of Town's Legislative Discretion. This Agreement will not be construed to limit the Board's legislative discretion to reduce the rate of or eliminate the Sales/Use Tax Credit, and any such action will not constitute a breach of or an event of default under this Agreement; provided, however, that any action having the effect of reducing the rate of or eliminating the Sales/Use Tax Credit at any time during the Credit PIF Period will entitle Developers, at their election to pursue disconnection of all or any designated part of the Project, subject to the following provisions: 689324.9 (I) If the Board fails to maintain the Sales/Use Tax Credit in the amount of 1.25% during the Credit PIF Period pursuant to Section 4.03 of this Agreement, each Developer, so long as it is not in default hereunder in any material respect, will have the right but not the obligation to petition for disconnection of all or any part of the Revised PlRA Property owned by such Developer from the Town pursuant to C.R.S. § 31-12-501. If either or both Developers file a petition for disconnection pursuant to this Section 4.12(1) and C.R.S. § 31-12-501 and the Town within 12 months of the date of filing of such petition takes action to re-implement the Sales/Use Tax Credit at a rate equal to 1.25%, then the applicable Developer(s) will withdraw the petition(s) for disconnection or, alternatively, the Town may deny such petition(s). If the Town subsequently re-implements the Sales/Use Tax Credit at a rate equal to 1.25%, either before or after a Developer has submitted a petition for disconnection, then the Credit PIF Period will be extended one day for each day during which the Sales/Use Tax Credit was not in effect. However, Developers and the Town agree that if the Town has not taken action to re-implement the Sales/Use Tax Credit at the rate of 1.25% within such 12-month period after filing of a disconnection petition, then the best interests of the Town will not be prejudiced by disconnection from the Town of that portion of the 18 Revised PIRA Property described in the petition and, to the extent permitted by law, the Town agrees to enact those measures necessary to effect such disconnection. Town services to any portion of the Project disconnected from the Town pursuant to this Section 4.12(1) will be provided upon the tenns and conditions of a service agreement executed prior to the effectiveness of such disconnection or, if no agreement can be reached, then upon such terms and conditions as shall be prescribed by Town ordinance. (2) Developers' and the PICs' rights for any failure of the Town to meet its obligations under Section 4.12( I) of this Agreement with respect to implementation of the disconnection right will be strictly limited to filing of an action for specific performance to require the Town to enact those measures necessary to effect a disconnection pem1itted under Section 4.12(1 ). In no event will Developers or the PICs be entitled to or claim any form of damages, including without limitation lost profits, economic damages, or incidental, consequential, punitive or exemplary damages. (3) Once the AFW Facility or any component of the TFD Facilities is issued a certificate of occupancy, the applicable Developer will not seek disconnection of that portion of the Project from the Town for any reason or pursuant to any statutory provision other than as expressly stated in Section 4.12(1) and (2) of this Agreement and, as such, tbe Developers expressly waive and relinquish any rights under C.R.S. § 31-12- 1 I 9 to seek disconnection for failure to serve, such waiver and relinquishment to be effective upon the issuance of a certificate of occupancy for the applicable facilities and not to be affected by any later closing or curtailment of such facilities. Section 4.13 Post-Credit PIF Period. If the Town determines after expiration of the Credit PIF Period that termination of the Sales/Use Tax Credit may be precluded by or require a refund under Article X, Section 20 of the Colorado Constitution, the Town may submit a written request that the PICs continue collecting the Credit PIF Revenues and remit the funds therefrom to the Town, in which case the Sales/Use Tax Credit will continue. The Town's written request must be delivered at least 90 days prior to expiration of the Credit PIF Period. Upon timely receipt of the request, Developers will continue to impose and the PICs will continue to collect the Credit PIF Revenues, pursuant to the PIF Covenant and this Agreement, for so long as the Town continues the Sales/Use Tax Credit in effect, and the PICs will remit to tbe Town all such fees actually collected, less its actual direct and indirect costs and expenses incurred, on a quarterly basis in arrears (i.e., funds for the prior quarter will be remitted at the end of the subsequent quarter). ARTICLE V AUDIT PROVISIONS Section 5.01 Audits. The PIF Collecting Agent/Trustee will prepare and deliver to the Parties no later than the last business day of the first quarter of each calendar year during the tenn of the PIF Collection Services and Trustee Agreement an unaudited accounting of the Credit PIF Revenues received and disbursed in the prior calendar year. Upon reasonable notice to the other Parties, the Town (at Developers' expense), any PIC or any Developer (at that Party's expense) will have the right to audit the PIF Collecting Agent/Trustee's books and records related to the PIF Collecting Agent/Trustee's obligations under the PIF Collection 689324.9 19 Services and Trustee Agreement. The PIF Collecting Agent/Trustee will be entitled to reimbursement of its cost for preparing the annual unaudited accounting and/or for cooperating in any audit or inspection from the applicable Developer(s) and/or PIC(s), or in the case of an audit by the Town, from the Developers. The PICs will provide to the Town (at the applicable PIC's expense) copies of their annual reports, year-end financial reports for the preceding fiscal year and budgets for the current fiscal year, and will provide such other and additional infonnation as reasonably requested by the Town regarding the use of the Credit PIF Revenues. The Town will have the right at the applicable Developer's expense to audit each Developer's books and records related to that Developer's utilization of Credit PIF Revenues and other obligations pursuant to this Agreement. No audit expenses will be paid from Credit PIF Revenues. Section 5.02 Audit of Retailers; Enforcement. Pursuant to the PIF Covenant, any person or entity who engages in a Taxable Transaction (including Construction Activities) is subject to audit by the Town (or the Colorado Department of Revenue on the Town's behalf) and/or the applicable PIC regarding such Taxable Transactions which are subject to the Credit PIF. The Town, to the extent that it collects and/or enforces sales or use taxes, and the PICs acknowledge that it is their intent to minimize their respective administrative costs and the administrative burdens imposed upon retailers within the Project and agree that, if one of the Parties exercises its right to audit the Taxable Transactions of a retailer within the Project, it will provide the other Parties with the opportunity to cooperatively participate in such audit upon payment of a pro rata share of the audit costs, provided that such retailer provides its written consent to such cooperative audit to the extent such consent is required under the terrns and conditions of the PIF Covenant or applicable law. If the PIF Collecting Agent/Trustee is unable to collect all or any portion of the Credit PTF due to delinquency, deficiency, or failure to file, such that the Sales/Use Tax Credit does not attach to a Taxable Transaction, the PIF Collecting Agent/Trustee will notify the PICs of such fact. Upon receipt of any such notice, the PICs may, in addition to exercising all of their remedies under the PIF Covenant or otherwise, notify the Town in writing and the Town, to the extent that it collects and enforces sales or use taxes, will institute the procedures authorized under the Code to enforce and collect the corresponding sales tax or use tax amount, together with any applicable interest, penalties and/or costs. If applicable, the Town will then remit any such collected tax revenues to the PIF Collecting Agent/Trustee, subject to annual appropriation by the Town and subject to the following conditions: (i) the Town will be entitled to retain an amount equal to its costs incurred in enforcing its collection of taxes under the Code, as well as an administrative fee equal to ten percent (I 0%) of any tax and one hundred percent (100%) of any penalty and/or interest actually collected; (ii) the obligation is subject to any prior lien on any Town taxes securing the Town's sales tax or use tax (on building materials only) revenue bonds outstanding as of the Effective Date; (iii) the Town will have no responsibility to collect any Add-On PIF amounts that may be due and unpaid; (iv) the Town does not guarantee or ensure that it will be able to collect any delinquent or deficient Credit PIF amounts; and (v) under no circumstances will the Town be subject to any legal liability to the PICs, Developers, or any third party on account of the Town's failure to collect some or all of the delinquent or deficient Credit PIF obligations on behalf of the PI Cs. If the person or entity which failed to timely pay the Credit PIF subsequently remits the delinquent Credit PIF, such payment will result in the application of the Sales/Use Tax Credit against such person's or entity's tax obligation, which Sales/Use Tax Credit will fully satisfy any corresponding liability to the Town for unpaid sales or use tax (on building materials only). In 689324.9 20 such circumstances, the Town will nevertheless be entitled to recover from the Developer its administrative fee and any costs incurred in the enforcement and recovery of such Credit PIF Revenues. For avoidance of doubt, any obligations of a Developer under this Section 5.02 will be subject to the provisions of Section 6.02 of this Agreement. ARTICLE VI DEFAULTS AND REMEDIES Section 6.01 Events of Default. Each of the following will constitute an "Event of Default" under this Agreement: (a) Defaults by the Town. Events of Default by the Town hereunder will be limited to the failure to fulfill or perform any express material obligations of the Town or the Board stated in this Agreement, subject to Section 4.12 of this Agreement. (b) Defaults by Developer or P!Cs. Events of Default hereunder by a Developer or a PIC will be limited to the following: ( 1) Knowingly submitting a materially false certification of Eligible Costs under Section 4.08; or (2) Utilizing Credit PIF Revenues for any purpose other than Eligible Costs for Public Improvements; or (3) Failure to fulfill or perform any other express material obligation of Developers stated in this Agreement. (c) Notice; Cure Period. In the event of any claimed default by a Party, the non-defaulting Party will give the defaulting Party and the other Parties and any lender who has provided a written request for notice pursuant to Section 7.10 of this Agreement not less than thirty (30) days' written notice and opportunity to cure, which notice will specify the nature of the Event of Default and will request that it be corrected within said 30-day period (the "Cure Period"). A lender who has provided a written request for notice pursuant to Section 7.10 of this Agreement will have the right, but not the obligation, to cure the asserted default as provided in this Section 6.0l(c). No act, event or omission will be an Event of Default hereunder if the defaulting Party's failure to perfom1 is caused by Force Majeure or by any act, omission or Event of Default by another Party, or so long as the defaulting Party has in good faith commenced and is diligently pursuing efforts to correct the condition specified in such notice. Section 6.02 No Cross-Defaults. No default or breach by any particular Developer or PIC of any obligation of that Party under this Agreement will be construed as or constitute a default or breach of any other Party or constitute a basis for the Town to assert or enforce any remedy against any Party other than the particular Party whose action or failure to act constitutes or gives rise to the default or breach. No default or breach by any particular Developer or PIC of any obligation of that Party arising under any agreement other than this Agreement will be construed as or constitute a default or breach of this Agreement or constitute a basis for the Town or the Board to assert or enforce any remedy against any Party under the terms of this Agreement. No default by any Party to this Agreement in the performance of any obligation of 689324.9 21 that Party under this Agreement will constitute or be deemed to constitute a default of any obligation of that Party under any other agreement or to excuse the performance by any other Party under any other agreement to which that Party is a party. Section 6.03 Remedies. The following remedies will be available for Events of Default that are not cured within the applicable Cure Period: (a) Remedies of the Town. The Town's remedies for an Event of Default by a Developer that is not cured within the applicable Cure Period will include, but not be limited to: (I) The right to enforce the defaulting PIC's or Developer's obligations hereunder by an action for injunction or specific performance; and/or (2) The recovery of damages resulting from an Event of Default under Section 6.0l(b)(l) and/or Section 6.0l(b)(2) of this Agreement. (b) Remedies of Developers. Developers' remedies for an Event of Default by the Town that is not cured within the applicable Cure Period will be strictly limited to an action for specific performance and to no other remedy. In no event will either Developer or either PIC be entitled to or claim any form of damages, including, without limitation, lost profits, economic damages, or incidental, consequential, punitive or exemplary damages. Section 6.04 Waiver and Indemnity. (a) In consideration of the Town entering into this Agreement, each Developer and each PIC, for itself and its respective successors and assigns expressly and unconditionally waives any claim for any form of damages, including without limitation lost profits, economic dan1ages, or incidental, consequential, punitive or exemplary damages, arising from any breach of this Agreement by the Town, the Board or anyone acting on its or their behalf, and covenants that, in connection with the subject matter of this Agreement, it will assert no claims against the Town, the Board or anyone acting on its or their behalf and seek no relief of any kind in any court or administrative tribunal, other than those remedies expressly provided in Section 6.03. (b) Subject to Section 6.02 of this Agreement, each Developer and each PIC, and their respective successors and assigns will indemnify and hold harmless the Town, the Board, and Town officers, agents, and employees (collectively, the "Related Parties") against all claims, demands, liabilities, damages and other awards (except punitive or exemplary damages) including the costs of defense thereof to such Related Parties, which Developers hereby assume and agree to pay as incurred (collectively, the "Covered Losses"), brought or obtained in connection with: (i) the execution, delivery or performance of this Agreement and its authorizing enactments, which indemnification obligation shall be joint and several; and (ii) each Developer and each PIC will further indemnify and hold harmless the Related Parties with respect to any Covered Losses incurred in connection with the construction, operation or financial viability of that Developer's or PIC's portion of the Project, which indemnification obligations will be several; provided, however, that the Related Parties will furnish prompt notice of any claim to the Developer from whom they are seeking indemnification and that Developer's successors and assigns, will admit no liability without advance written consent by the applicable Developer and its successors and assigns, and will not settle any such claim or 689324.9 22 demand without consent by the applicable Developer and its successors and assigns. Developers will pay the Town's engineering, consulting and attorneys' fees for the negotiation, drafting and execution of this Agreement. (c) Each Developer and the applicable PIC, for themselves and their respective successors and assigns, specifically covenants and agrees, in addition to any other amounts that may be recoverable by the Town hereunder from such Developer and/or PIC, that the applicable Developer and/or PIC will reimburse to the Town any amounts determined to have been paid to such Developer and/or PIC in excess of the Developer's and/or PIC's allocable share of the Eligible Costs pursuant to the terms and conditions of this Agreement. (d) Notwithstanding any other provision of this Agreement, this Section 6.04 will survive termination of the Agreement and be enforceable until all legal causes of action are precluded by the longer of the applicable statutes of limitation or notice of claim filing requirements of the Colorado Governmental Immunity Act, for claims subject to such notice requirement. Section 6.05 No Joint Venture or Partnership. Nothing contained in this Agreement is intended to create a partnership or joint venture between all or any of the Parties, or their respective successors and assigns, and any implication to the contrary is hereby expressly disavowed. It is understood and agreed that this Agreement does not provide for the joint exercise by the Parties of any activity, function or service, nor does it create a joint enterprise, nor does it constitute any Party as an agent of any other Party for any purpose whatsoever. Except as otherwise provided under this Agreement, no Party will in any way assume any of the liability of any other Party for any acts or obligations of the other Party. ARTICLE VII MISCELLANEOUS Section 7.01 Assignment; Binding Effect. This Agreement will be binding upon and, except as otherwise provided in this Agreement, will inure to the benefit of the successors in interest or the legal representatives of the Parties. Developers will have the right to assign or transfer all or any portion of their respective interests, rights, or obligations under this Agreement only upon receiving the prior written consent of the Town, provided that to the extent Developers assign any of their respective obligations under this Agreement, the assignee of such obligations will expressly assume such obligations; provided, however, the PICs are hereby acknowledged to be approved assignees of the respective Developers and no further Town consent to assignment of a Developer's rights and/or obligations under this Agreement to the respective PICs will be required. Notwithstanding the foregoing, Developers and/or the PI Cs may assign their respective rights to reimbursement of Eligible Costs under this Agreement and the PIF Collection Services and Trustee Agreement as collateral to a lender or other person or entity providing financing for construction and development or operating costs for the Project and/or the Pnblic Improvements; provided, however, the foreclosure or other disposition of such rights pursuant to a pledge or encumbrance will never be permitted to occur separately from a foreclosure itself. 689324.9 23 Section 7.02 Amendment of this Agreement. (a) Written Amendment Required. Except as otherwise set forth in this Agreement, this Agreement may be amended, terminated or superseded only by mutual consent in writing of each of the Parties, and approved by resolution or ordinance of the Board. (b) lncorporotion of Supplemental Property. When and if TFD acquires the Supplemental Property as contemplated in Section 3.06(c) of this Agreement, the Town and TFD will execute a written amendment pursuant to Section 7.02(c) of this Agreement (provided, however, that neither AFW nor either PIC will be deemed a required signatory) to memorialize the incorporation of the Supplemental Property into the TFD Property and the Revised PIRA Property, and the Town will cause the amendment to be recorded at TFD's cost in the offices of the Weld County Clerk and Recorder pursuant to Section 7.02(c) of this Agreement. (c) Effectiveness and Recordation. Any written amendment executed pursuant to subparagraphs (a) and/or (b) of this Section 7.02 will be effective upon the later to occur of (i) execution by all required Parties, or (ii) the effective date of the ordinance or resolution approving such amendment. Promptly after any amendment to this Agreement becomes effective, the Town will cause it to be recorded at Developers' cost (or with respect to an amendment pursuant to Section 7.02(b) of this Agreement, at TFD's cost) in the office of the Weld County Clerk and Recorder. As between the Parties, the validity or enforceability of such an amendment will not be affected by any delay in or failure to record the amendment as provided herein. Section 7.03 Entire Agreement. Except for the Approved Plans, the S!As and the Credit PIF Collection Service Agreement, to the extent those documents supplement, implement or complement the provisions of this Agreement, this Agreement constitutes the entire understanding among the Parties with respect to the subject matter hereof. Section 7.04 No Implied Terms. No obligations, agreements, representations, warranties or certificates will be implied from this Agreement, beyond those expressly stated herein. Section 7.05 Headings for Convenience. The headings and captions used herein arc for the convenience of the Parties only and will have no effect upon the interpretation of this Agreement. Section 7.06 Applicable Law. This Agreement will be interpreted and enforced according to the laws of the State of Colorado. Section 7.07 Litigation. The Parties will cooperate in the defense of any legal action brought to contest the validity or enforceability of this Agreement as noted in Section 3.02. The Developers will pay all costs and reasonable attorneys' fees incurred by the Town in defense of any such action. The Developers further agree to pay any monetary judgment that may be entered against the Town in any such action; provided, however, that such monetary judgment docs not exceed the amount of any Credit PIF Revenues receivable by the applicable Developer from the PIF Collecting Agent/Trustee pursuant to this Agreement. Notwithstanding any other provision of this Agreement, this Section 7 .07 will survive termination of the Agreement and be 689324.9 24 enforceable until all legal causes of action are precluded by applicable statutes of limitation or notice of claim filing requirements of the Colorado Governmental Immunity Act, for claims subject to such notice requirement. The PIF Collecting Agent/Trustee will have no obligation to disburse Credit PIF Revenues while any legal action is pending concerning the validity or enforceability of this Agreement; provided, however, that the PIF Collecting Agent/Trustee will continue to receive any disputed Credit PIF Revenue and to maintain such Credit PIF Revenues in a separate account pending a final judicial determination of invalidity, at which time the accrued Credit PIF Revenues will be disbursed to either the Developers, the PIC, or the Town as otherwise provided in this Agreement and in the final judicial detern1ination. Section 7.08 Severability. Should the accounting required under this Agreement and/or the Sales/Use Tax Credit and/or the Credit PIF be judicially adjudged illegal, invalid or unenforceable under present or future laws effective during the tern1 of this Agreement or contrary to public policy by a court of competent jurisdiction in a final non-appeal able judgment, the Parties will utilize their reasonable, good faith efforts to restructure this Agreement, together with any necessary related agreements or instruments, or to enter into a new agreement or agreements, consistent with the purposes of this Agreement. Should the Parties be unsuccessful in their efforts, this Agreement will immediately terminate without penalty or recourse to any Party. Otherwise, should any one or more provisions of this Agreement be judicially adjudged illegal, invalid or unenforceable under present or future laws effective during the tern1 of this Agreement or contrary to public policy by a court of competent jurisdiction in a final non-appealable judgment, without a corresponding determination being made with regard to the Sales/Use Tax Credit, Credit PIF, accounting, or other tern1 or provision of this Agreement necessary to implement the financing plan for the Public Improvements, such provision or provisions will be fully severable, and the remaining provisions of this Agreement will remain in full force and effect and will not be affected by the illegal, invalid or unenforceable provision or by the severance of such provision from this Agreement. Section 7.09 Initiative and Referendum. If this Agreement or any portion thereof is challenged by initiative or referendum, including any judicial contest to the outcome thereof, then, to the extent so challenged, the provisions of this Agreement, together with the duties and obligations of each Party, will be suspended pending the outcome of the initiative or referendum election and the judicial contest, if any; and a period equal to the period of such suspension will be deemed automatically added to every right and obligation herein which is required to be performed or which accrues within a specified time. If the initiative or referendum results in voiding of this Agreement or any portion thereof, then the provisions of Section 7 .08 will apply as if the election were an action of a court. If the initiative or referendum fails, then the Parties will continue to be bound by all of the tern1s of this Agreement. Section 7.10 Notices. All notices, certificates, reports or other communications hereunder will be deemed given when personally delivered, or after the lapse of five (5) business days following their mailing by registered or certified mail, return receipt requested, postage prepaid, addressed as follows: 61t9324.9 25 To the Town: With a required copy to: To Developers: ToAFW: With a required copy to: ToTFD: With a required copy to: 689324.9 Town of Firestone 151 Grant Ave., Box JOO Firestone, CO 80520 Light, Harrington & Dawes, P.C. I 5 I 2 Larimer Street, Suite 300 Denver, Colorado 80202 American Furniture Warehouse, Co. 8820 American Way E·nglewood, CO 80112 Attn: Jacob Jabs Ronald L. Antonio Antonio Bates Bernard PC 3200 Cherry Creek S. Drive, Suite 380 Denver, Colorado 80209 THF Realty, Inc. 2127 lnnerbelt Business Center Drive Suite 200 St. Louis, MO 63114 Attn: Michael Staenberg and Quadrant Properties 16253 Swingley Ridge Road, Suite 220 Chesterfield, Missouri 63017 Attn: Rodney K. Jones Munsey L. Ayers, Jr. Otten, Johnson, Robinson, Neff & Ragonetti, P.C. 950 Seventeenth Street, Suite I 600 Denver, CO 80202 and Joel A. Mayo Montgomery Little & McGrew PC 5445 DTC Parkway, Suite 800 Greenwood Village, CO 80 I 11-3053 26 Any Party may designate a different notice address by written notice to the other Parties delivered in accordance with this Section 7. I 0. Additionally, any lender or other party providing financing for the Project that is secured in part by a pledge or assignment of a Developer's or PTC's rights under this Agreement to receive reimbursement for Eligible Costs from the Credit PIF Revenues may provide the Parties with written notice of its desire to receive simultaneous notices under this Section 7.10 setting forth the address for notices, and any Party which has received such written notice will provide simultaneous notice to such lender or other party in accordance therewith. Section 7.11 Term; Termination. Unless terminated earlier pursuant to the terms set forth herein, this Agreement will terminate upon the Parties' full performance of their respective obligations under Section 4.04 of this Agreement regarding disposition of Credit PIF Revenues held by the PIF Collecting Agent/Trustee following expiration of the Credit PIF Period. Section 7.12 Public and Governmental Actions. Developers and the PICs acknowledge that the review and approval, conditional approval or disapproval of the development plans and subdivision plats for the Project are subject to the quasi-judicial or administrative authority of the Board. No assurances of approval for any specific development plan or subdivision plat have been made by the Town or the Board, and neither Developers nor the PlCs have relied on any such assurance of approval or assumption regarding any future approval for the Project. Section 7.13 No Waiver or Repeal by Town. Nothing contained in this Agreement will constitute or be interpreted as a repeal of any existing ordinances or codes, or as a waiver or abnegation of the Town's legislative, governmental or police powers to promote and protect the health, safety, morals and general welfare of the Town or its inhabitants. Section 7.14 Board Findings. The Board hereby finds and detennines that execution of this Agreement is in the best interests of the public health, safety and general welfare of the Town, and that the provisions of this Agreement are consistent with the Town's development laws, regulations and policies. Section 7.15 Counterparts. This Agreement may be executed in multiple counterparts, each of which will be deemed to be an original and all of which taken together will constitute one and the same agreement. (Signature and Notarization Pages Follow This Page( 689314.9 27 IN WITNESS WHEREOF, the Parties have executed this Agreement as of the day and year first written above. ATTEST: Judy Hegwood, Town Clerk 689324.9 TOWN OF FIRESTONE, COLORADO Michael P. Simone, Mayor AMERICAN FURNITURE WAREHOUSE, CO., a Colorado Corporation By: _____________ _ Jacob Jabs, President THF FIRESTONE DEVELOPMENT, L.L.C., a Missouri limited liability company By: THF Firestone Investors, L.L.C., its Manager By: Michael H. Staenberg, Manager 28 STATE OF ______ _ COUNTY OF _____ _ ) ) ss ) AMERICAN FURNITURE WAREHOUSE, CO., a Colorado Corporation By: ______________ _ Jacob Jabs, President The above and foregoing signature of Jacob Jabs, as President, on behalf of American Furniture Warehouse Co., a Colorado corporation, was subscribed and sworn to before me this ____ day of _________ , 2006. Witness my hand and official seal. My commission expires on: _______ _ (SEAL) 689324.9 29 STATE OF -------- COUNTY OF _____ _ ) ) ss ) THF FIRESTONE DEVELOPMENT, L.L.C., a Missouri limited liability company By: THF Firestone Investors, L.L.C., its Manager By: Michael H. Staenberg, Manager The above and foregoing signature of Michael H. Staenberg, as Manager, on behalf of THF Firestone Development, L.L.C., a Missouri limited liability company, was subscribed and sworn to before me this ____ day of _________ ~ 2006. Witness my hand and official seal. My commission expires on: _______ _ (SEAL) 689324.9 30 Exhibit A Legal Description of Revised PIRA Property The Revised PIRA Property consists of the following parcels: Parcel A: The AFW Property (a portion of the Original PIRA Property) Lot I, Replat of Lots I, 2 and 3, American Furniture Warehouse Subdivision, recorded on _______ , 200_, at Reception No. ____ _ Parcel B: The TFD Property (a portion of the Original PIRA Property) Lots 2, 3 and 4, Replat of Lots I, 2 and 3, American Furniture Warehouse Subdivision, recorded on ______ _, 200_, at Reception No. ____ _ 689324.9 Exhibit A Page I Exhibit B Legal Description of Supplemental Property COMMENCING AT THE NE CORNER OF TI-IE NWl/4 OF THE NWl/4 OF SAID SECTION 11; TOWNSHIP 2 NORTH, RANGE 68 WEST OF THE 6m P.M., THENCE NORTH 89 DEGREES 47 MINUTES 45 SECONDS WEST ALONG THE NORTH LINE OF THE NWl/4 OF THE NWl/4 OF SAJD SECTION 11, 235.80 FEET; THENCE SOUTH 00 DEGREES 12 MINUTES 15 SECONDS WEST, 565.25 .FEET TO THE TRUE POINT OF BEGINNING; THENCE ALONG THE ARC OF A CURVE TO THE RIGHT, HAVING A RADIUS OF 756.18 FEET, A DISTANCE OF 257.11 FEET, THE CHORD OF SAID ARC BEARS SOUTH 30 DEGREES 05 MINUTES 37 SECONDS WEST, 255.87 FEET; THENCE SOUTH 39 DEGREES 50 MINUTES 03 SECONDS WEST, 638.44 FEET: THENCE NORTH 72 DEGREES 22 MINUTES 32 SECONDS WEST, 144.35 FEET; THENCE NORTH 11 DEGREES 32 MINUTES 37 SECONDS EAST, 343.39 FEET; THENCE NORTH 19 DEGREES 49 MINUTES 33 SECONDS EAST, 350.91 FEET; THENCE SOUTH 89 DEGREES 50 Mll\'UTES 19 SECONDS EAST, 487.10 FEET; MORE OR LESS, TO THE TRUE POINT OF BEGfNNfNG. COUNTY OF WELD, STATE OF COLORADO. 689324.9 Exhibit B Page I Exhibit C Schedule of Public Improvements and Eligible Costs Public Improvements Estimated Construction Costs The items noted below are intended to be ultimately owned, operated and maintained by the Town, or (as in the case of Imported Fill and Compaction) are intended to benefit property to be owned or dedicated to the Town. The Public Improvement Costs shown below are estimates only. Subject to Sections 3.06(a) and 4.06(d) of the Agreement, and subject to the overall Cap Amount of $11,000.000, the AFW Costs for the AFW Improvements, being those Public Improvements required by AFW's SIA for the AFW Property, are allocated at $3,544,774 and the TFD Costs for the TFD Improvements, being those Public Improvements required by any SIA for the TFD Property, are allocated at $7,455,226. Cost may be reallocated among the categories below, except that reimbursements for oil/gas costs under line 12 may never exceed $300,000, and except that costs in lines 13, 14 and 15 may only be reallocated among lines I 3, 14 and I 5, and may not exceed the aggregate amount of 26% of actual cost incurred for items within Subtotal I. Public street construction includes landscaping within the public right-of-way. Landscaping along the Town's Godding Hollow regional trail corridor may be acceptable as a public improvement provided the Town approves this in writing prior to installation and the landscaping is located on public property or a public easement owned by the TO\vn. Unit Quan. Unit Cost Cost I Jake Jabs Boulevard I LS LS $ 1,250,000 2 Jake Jabs Boulevard Crossing of I LS LS 250,000 Godding Hollow 3 Signal at Jake Jabs Boulevard and I LS LS 200,000 Firestone Boulevard 4 Improvements to Firestone Blvd 'I LS LS 500,000 5 Other Public Streets' I LS LS 200,000 6 Public Stormwater Facilities I LS LS 200,000 7 Public Water Lines I LS LS 600,000 8 Water Booster Pump to Firestone I LS LS 250,000 Water lines 9 State Highway Frontage Road I LS LS 500,000 Jmorovements 10 Public Sanitary Sewer I LS LS 150,000 II Imported Fill and Compaction 1,000.000 CY $ 3.25 3.250,000 12 Oil/Gas" 300,000 Subtotal I $ 7.650.000 13 Engineering (8% of Subtotal I) 612,000 14 Construction Surveying ( 12% of 918,000 Subtotal I) 15 Construction Engineering (6% of 459,000 Subtotal I) Subtotal 2 $ 9,639,000 CBT Water Shares 150 Share 11,500 1,725,000 Grand Total of Eligible Costs $ II 364 000 iCosts may vary based on number of public streets developed. UOnly for the relocation of oil/gas facilities that would negatively impact the construction of Public [rnprovements, such category limited to $300,000 maximum. 689324.9 Exhibit C Page I EXHIBIT A (Attach Amended and Restated Public Improvements Reimbursement Agreement) 4 RESOLUTION NO. 06-.:17 A RESOLUTION APPROVING A PRELIMINARY DEVELOPMENT PLAN AND FINAL PLAT FOR FIRESTONE CENTRAL PARK. WHEREAS, there has been submitted to the Board of Trustees of the Town of Firestone a request for approval of a preliminary development plan and final plat for Firestone Central Park, a Civic, Cultural and Community Center; and WHEREAS, all materials related to the proposed preliminary development plan and final plat have been reviewed by Town Staff and the Firestone Planning and Zoning Commission and found to be in compliance with Town of Firestone subdivision and zoning ordinances, Development Regulations, and related Town ordinances, regulations, and policies; and WHEREAS, the Firestone Planning and Zoning Commission has held a properly noticed public hearing on the application, and has forwarded to the Board of Trustees a recommendation of approval; and WHEREAS, the Board of Trustees has duly considered the proposed preliminary development plan and final plat, and has held a properly noticed public hearing on the application; and WHEREAS, the Board of Trustees finds that the proposed preliminary development plan and final plat should be approved. NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF TRUSTEES OF THE TOWN OF FIRESTONE, COLORADO: Section 1. The Board of Trustees of the Town of Firestone does hereby approve the proposed preliminary development plan and final plat for Firestone Central Park, a Civic, Cultural and Community Center. ,d INTRODUCED, READ AND ADOPTED this 3 day of August, ATTEST: ~Cit~ own Cler 08/01/200612:26 PM (kkhJ S:\Flrcstone\Subdivisions\Centnl Park.PDP FP.TB.re,.doc Michael P. Simone Mayor .. •·· ..•. _... ~o~tl ·• .. . ' . 1:,£-~\J •.• / ·-... ..•· RESOLUTION NO. 0 fo -.2_ d" A RESOLUTION APPROVING A PURCHASE CONTRACT TO BUY AND SELL REAL ESTATE FOR THE SALE OF LOTS 2 AND 3, FIRESTONE SAFEWAY, TOWN OF FIRESTONE. WHEREAS, the Town of Firestone is the owner of certain real property legally described as Lots 2 and 3, Firestone Safeway, Town of Firestone, County of Weld, State of Colorado, generally located at the northwest comer of the intersection of First Street and Grant Avenue (hereinafter ''the Property"); and WHEREAS, the Property is vacant land held by the Town for no park or other governmental purpose and is not needed for any public purpose; and WHEREAS, the Board of Trustees desires to sell the Property, and has received a proposed Purchase Contract to Buy and Sell Real Estate for sale of the Property for $436,500 to John L. Wright and H. Lindsay Wright (hereinafter "the Contract"); and WHEREAS, the Town desires to sell the Property to such purchasers upon the terms and conditions of a mutually-agreeable Contract. NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF TRUSTEES OF THE TOWN OF FIRESTONE, COLORADO: Section 1, The proposed Contract to Buy and Sell Real Estate between the Town of Firestone and John L. Wright and H. Lindsay Wright for sale of Lots 2 and 3, Firestone Safeway, Town of Firestone, County of Weld, State of Colorado, is hereby approved in essentially the same form as the copy of such Contract accompanying this Resolution. Section 2 The Mayor is authorized to execute the Contract, except that the Mayor is hereby granted the authority to negotiate and approve such revisions to said Contract as the Mayor determines are necessary or desirable for the protection of the Town, so long as the essential terms and conditions of the Contract are not altered. Section 3 The Mayor, Town Administrator and Town Staff are further authorized to do all things necessary on behalf of the Town to perform the obligations of the Town under the Contract, and are further authorized to execute and deliver any and all closing documents and other documents necessary to effect the sale of the Property under the terms and conditions of said Contract. -JJi INTRODUCED, READ AND ADOPTED this / 0 day of~*~~_,2006. TOWN OFF ,COLORADO Mayor ATTEST: ,.-··;·o\/'11'1 ···· ... ,,, p.._\., ,_")l.-, ,).~ -.. ~--,,,, lfCSlonc:\Resohttion\Saf'=y Property Sale Resolution RESOLUTION NO. 06-29 A RESOLUTION FINDING SUBSTANTIAL COMPLIANCE FOR AN ANNEXATION PETITION FILED WITH THE TOWN OF FIRESTONE, COLORADO,KNOWNASTHEST. VRAINSTATEPARKANNEXATIONNO. 1 TO THE TOWN OF FIRESTONE, AND SETTING A PUBLIC HEARING THEREON. WHEREAS, a petition for annexation of certain property to be known as the St. Vrain State Park Annexation No. 1 has been filed with the Town Clerk of the Town ofFirestone, Colorado, and referred to the Board of Trustees of the Town for a determination of substantial compliance with applicable law; and WHEREAS, the Board of Trustees wishes to permit simultaneous consideration of the subject property for annexation and zoning, if requested in the petition; and WHEREAS; the Board of Trustees has reviewed the petition and desires to adopt by Resolution its findings in regard to the petition. NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF TRUSTEES OF THE TOWN OF FIRESTONE, COLORADO: , Section 1. The petition, the legal description for which is attached hereto as Exhibit A and incorporated herein by reference, is in substantial compliance with the applicable laws of the State of Colorado. Section 2. Section 3. in the petition. No election is required under C.R.S. § 31-12-107(2). No additional terms and conditions are to be imposed except any provided for Section 4. The Board of Trustees will hold a public hearing for the purpose of determining if the proposed annexation complies with C.R.S. §§ 31-12-104 and 31-12-105, and will hold a public hearing to determine the appropriate zoning of the subject property, ifrequested in the petition, at the Firestone Town Hall, 151 Grant A venue, Firestone, Colorado 80520, on Thursday, October 12, 2006 at 7:00 P.M. Section S. Any person may appear at such hearing and present evidence relative to the proposed annexation, or the proposed zoning if requested in the petition. Section 6. Upon completion of the hearing, the Board of Trustees will set forth, by resolution, its findings and conclusions with reference to the eligibility of the proposed annexation, 1 and whether the statutory requirements for the proposed annexation have been met, and further, will determine the appropriate zoning of the subject property if requested in the petition. Section 7. If the Board of Trustees concludes, by resolution, that all statutory requirements have been met and that the proposed annexation is proper under the laws of the State of Colorado, the Board of Trustees may pass one or more ordinances annexing the subject property to the Town of Firestone, and will pass one or more ordinances zoning the subject property if requested in the petition. INTRODUCED, READ, and ADOPTED this 24th day of August, 2 _./~~'J'lN ····· .. . Mayor ATTEST: •···.... . ... · ... 08/14/2006 1:1 I PM [UbJS:\F"irestone\Annewion\S1VrainStatcPark I.comp res.doc 2 EXHIBIT A LEGAL DESCRIPTION ST. VRAIN STATE PARK ANNEXATION NO. I A tract of land located in the SEl/4 of Section 3, T2N, R68W of the 6th P.M., County of Weld, State of Colorado, described as follows: COMMENCING at the El/4 Corner of said Section 3, from which the Southeast Corner of said Section 3 bears S00°29'13"W, 2668.40 feet (Basis of Bearing), thence S89°40'11"W, 234.90 feet along the North Line of the SEl/4 of said Section 3 to the Westerly Line of Parcel No. 12 Rev. 2 of Interstate Highway No. 25 conveyed to The Department of Highways, State of Colorado, as described in Special Warranty Deed recorded April 15, 1958, in Book 1500 at Page 553 of the records of Weld County, Colorado; Thence Southerly, 30.02 feet along the arc of a curve concave to the East and along the Westerly Line of said Parcel No. 12 Rev. 2 of Interstate Highway No. 25 [Project I 092-1 (l)] to the Southerly Right-of-way Line of Weld County Road No. 24.5 and the TRUE POINT OF BEGINNING, said arc having a radius of 11595. 00 feet, a central angle of O 08 • 54 ", and being subtended by a chord that bears S02"28'04"E, 30.02 feet; Thence continuing Southerly, 181.38 feet along the arc of said curve and along the Westerly Line of said Parcel No. 12 Rev. 2 of Interstate Highway No. 25, said arc having a radius of 11595. 00 feet, a central angle of 0° 53' 4 7 ", and being subtended by a chord that bears S02°59'24"E, 181.38 feet; Thence S03°49'47"E, 1252.90 feet along the Westerly Line of said Parcel No. 12 Rev. 2 of Interstate Highway No. 25 to an angle point thereof; Thence S01°46'17"E, 169.47 feet along the Westerly Line of said Parcel No. 12 Rev. 2 of Interstate Highway No. 25 to the Northerly Line of that tract of land conveyed to James F. Holmes as described in Warranty Deed recorded April 26, 1972, in Book 666 as Reception No. 1588448 of the records of Weld County, Colorado; Thence N89°41'40"W, 573.20 feet along the Northerly Line of that tract of land as described in said Book 666 as Reception No. 1588448 to the Northwest Corner thereof, also being the Northeast Corner that tract of land conveyed to Saul Lissauer and Janice H. Lissauer as described in Warranty Deed recorded February 3, 1969, in Book 605 as Reception No. 1527013 of the records of Weld County, Colorado; Thence N89°41'40"W, 585.70 feet along the Northerly Line of that tract of land as described in said Book 605 as Reception No. 1527013 to the Northwest Corner thereof; Thence S02°09'28"W, 376.24 feet along the Westerly Line and along the Westerly Line extend.Southerly of that tract of land as described in said Book 605 as Reception No. 1527013 to the Northwest Corner of LONGMONT CENTENNIAL INN SUBDIVISION, a subdivision located in the SEl/4 of said Section 3, County of Weld, State of Colorado, according to the plat recorded as Reception No. 2119091 of the records of Weld County, Colorado; Thence S02°08 '09"W, 586. 59 feet along the Westerly Line of said LONGMONT CENTENNIAL INN SUBDIVISION to the Northerly Line of Parcel No. 38 of State Highway No. 119 [Project S-SU-0072 ( 2) -SEC. 2] conveyed to The Department of Highways, State of Colorado, as described in Special Warranty Deed recorded January 6, 1971, in Book 638 as Reception No. 1559975 of the records of Weld 3 County, Colorado; Thence N89°46'03"W, 1059.96 feet along the Northerly Line of said Parcel No. 38 of State Highway No. 119 to the Westerly Line of RADEMACHER RECORDED EXCEPTION NO. 2534, a recorded exemption located in the SEl/.4 of said Section 3, County of Weld, State of Colorado, according to the plat recorded as Reception No. 2733409 of the records of Weld County, Colorado; Thence N00° 26' 21 "E, 937. 33 feet along the Westerly Line of said RADEMACHER RECORDED EXCEPTION NO. 2534 to an angle point thereof; Thence N84 °17 '24 "E, 240. 58 feet along the Westerly Line of said RADEMACHER RECORDED EXCEPTION NO. 2534 to an angle point thereof; Thence NOS O 37 '24 "E, 1588. 60 feet along the Westerly Line of said RADEMACHER RECORDED EXCEPTION NO. 2534 to the Southerly Right-of-way Line of said Weld County Road No. 24.5; Thence N89°40'11"E, 1754.28 feet along the Southerly Right-of-way Line of said Weld County Road No. 24 .·5 to the TRUE POINT OF BEGINNING. Area= 92.406 acres, more or less. 4 RESOLUTION NO. 06-30 A RESOLUTION FINDING SUBSTANTIAL COMPLIANCE FOR AN ANNEXATION PETITION FILED WITH THE TOWN OF FIRESTONE, COLORADO, KNOWN AS THE ST. VRAIN STATE PARK ANNEXATION NO. 2 TO THE TOWN OF FIRESTONE, AND SETTING A PUBLIC HEARING THEREON. WHEREAS, a petition for annexation of certain property to be known as the St. Vrain State Park Annexation No. 2 has been filed with the Town Clerk of the Town of Firestone, Colorado, and referred to the Board of Trustees of the Town for a determination of substantial compliance with applicable law; and WHEREAS, the Board of Trustees wishes to permit simultaneous consideration of the subject property for annexation and zoning, ifrequested in the petition; and WHEREAS, the Board of Trustees has reviewed the petition and desires to adopt by Resolution its findings in regard to the petition. NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF TRUSTEES OF THE TOWN OF FIRESTONE, COLORADO: Section I. The petition, the legal description for which is attached hereto as Exhibit A and incorporated herein by reference, is in substantial compliance with the applicable laws of the State of Colorado. Section 2. Section 3. in the petition. No election is required under C.R.S. § 31-12-107(2). No additional terms and conditions are to be imposed except any provided for Section 4. The Board of Trustees will hold a public hearing for the purpose of determining if the proposed annexation complies with C.R.S. §§ 31-12-104 and 31-12-105, and will hold a public hearing to determine the appropriate zoning of the subject property, if requested in the petition, at the Firestone Town Hall, 151 Grant Avenue, Firestone, Colorado 80520, on Thursday, October 12, 2006 at 7:00 P.M. Section 5. Any person may appear at such hearing and present evidence relative to the proposed annexation, or the proposed zoning if requested in the petition. Section 6. Upon completion of the hearing, the Board of Trustees will set forth, by resolution, its findings and conclusions with reference to the eligibility of the proposed annexation, 1 and whether the statutory requirements for the proposed annexation have been met, and further, will determine the appropriate zoning of the subject property if requested in the petition. Section 7. If the Board of Trustees concludes, by resolution, that all statutory requirements have been met and that the proposed annexation is proper under the laws of the State of Colorado, the Board of Trustees may pass one or more ordinances annexing the subject property to the Town of Firestone, and will pass one or more ordinances zoning the subject property if requested in the petition. · INTRODUCED, READ, and ADOPTED this 24 th day of August, 2006. ATTEST: _,_..-~oWN ····• ... ;£J\\., ·•··..•. . .. ---- 08/14/2006 I :11 PM [tthJS:\F"ucstmlll~\StVrainSwcPmt 2.c.omp res.doc Mayor 2 EXIIlBITA LEGAL DESCRIPTION ST. VRAIN STATE PARK ANNEXATION NO. 2 A tract of land located in Section 3 and in the El/2 of Section 4, T2N, R68W of the 6th P.M., County of Weld, State of Colorado, described as follows: COMMENCING at the El/4 Corner of said Section 3, from which the Southeast Corner of said Section 3 bears S00°29'13"W, 2668.40 feet (Basis of Bearing), thence S89°40'll"W, 234.90 feet along the North Line of the SEl/4 of said Section 3 to the Westerly Line of Parcel No. 12 Rev. 2 of Interstate Highway No. 25 (Project I 092-1 (1)] conveyed to The Department of Highways, State of Colorado, as described in Special Warranty Deed recorded April 15, 1958, in Book 1500 at Page 553 of the records of Weld County, Colorado, and the TRUE POINT OF BEGINNING; Thence Southerly, 30.02 feet along the arc of a curve concave to the East and along the Westerly Line of said Parcel No. 12 Rev. 2 of Interstate Highway No. 25 to the Southerly Right-of-way Line of Weld County Road No. 24.5, said arc having a radius of 11595.00 feet, a central angle of 0°08'54", and being subtended by a chord that bears S02°28'04"E, 30.02 feet; Thence S89"40'11"W, 1754.28 feet along the Southerly Right-of-way Line of Weld County Road No. 24.5 to the Westerly Line of RADEMACHER RECORDED EXCEPTION NO. 2534, a recorded exemption located in the SEl/4 of said Section 3, County of Weld, State of Colorado, according to the plat recorded as Reception No. 2733409 of the records of Weld County, Colorado; Thence S05 ° 37 '24 "W, 1588. 60 feet along the Westerly Line of said RADEMACHER RECORDED EXCEPTION NO. 2534 to an angle point thereof; Thence S84°17'24"W, 240.58 feet along the Westerly Line of said RADEMACHER RECORDED EXCEPTION NO. 2534 to an angle point thereof; Thence S00°26' 21 "W, 937. 33 feet along the Westerly Line of said RADEMACHER RECORDED EXCEPTION NO. 2534 to the Northerly Line of Parcel No. 38 of State Highway No. 119 [Project S-SU-0072 (2) -SEC. 2] conveyed to The Department of Highways, State of Colorado, as described in Special Warranty Deed recorded January 6, 1971, in Book 638 as Reception No. 1559975 of the records of Weld County, Colorado; Thence N89°46'03"W, 385.18 feet along the Northerly Line of said Parcel No. 38 of State Highway No. 119 to an angle point thereof; Thence N75°58'33"W, 105.70 feet along the Northerly Line of said Parcel No. 38 of State Highway No. 119 to an angle point thereof; Thence N89°33'03"W, 1642.70 feet along the Northerly Line of said Parcel No. 38 of State Highway No. 119 to the Easterly Line of that tract of land conveyed to Elmer Moore and Clara Moore as described in Warranty Deed recorded June 22, 1972, in Book 670 as Reception No. 1592181 of the records of Weld County, Colorado; Thence N00°47'14"E, 406.18 feet along the Easterly Line of that tract of land as described in said Book 670 as Reception No. 1592181 to the Northeast Corner thereof; Thence N89°32'46"W, 355.00 feet along the Northerly Line of that tract of land as described in said Book 670 as Reception No. 1592181 to the Northwest Corner 3 thereof, also being the Northeast Corner of that tract of land conveyed to Distribution Holdings, Inc. as described in Warranty Deed recorded June 9, 1969, in Book 610 as Reception No. 1532469 of the records of Weld County, Colorado; Thence N89°32'46"W, 405.00 feet along the Northerly Line of that tract of land as described in said Book 610 as Reception No. 1532469 to the Easterly Right-of-way Line of Weld County Road No. 7; Thence S00° 4 7' 14 "W, 356. 25 feet along said Easterly Right-of-way Line of Weld County Road No. 7 to the Northerly Line of said Parcel No. 38 of State Highway No. 119; Thence N89°33'03"W, 30.00 feet along the Northerly Line of said Parcel No. 38 of State Highway No. 119 to the West Line of the SWl/4 of said Section 3, also being a point along the Northerly Line of Parcel No. 33 of State Highway No. 119 [Project S-SU-0072(2)-SEC.2] conveyed to The Department of Highways, State of Colorado, as described in Special Warranty Deed recorded April 3, 1970, in Book 623 as Reception No. 1544823 of the records of Weld County, Colorado; Thence N89°28'52"W, 30.00 feet along the Northerly Line of said Parcel No. 33 of State Highway No. 119 to the Westerly Right-of-way Line of said Weld County Road No. 7; Thence N00°47'14"E, 2457.33 feet along the Westerly Right-of-way Line of said Weld County Road No. 7 to the North Line of the SEl/4 of said Section 4; Thence N00°26'53"E, 2567.48 feet along the Westerly Right-of-way Line of said Weld County Road No. 7 to the Southerly Right-of-way Line of Weld County Road No. 26; Thence N89°33'07"E, 30.00 feet along the Southerly Right-of-way Line of said Weld County Road No. 26 to the West Line of the NWl/4 of said Section 3; Thence S89°33'30"E, 30.00 feet along the Southerly Right-of-way Line of said Weld County Road No. 26 to the Easterly Right-of-way Line of said Weld County Road No. 7; Thence S00°26'53"W, 30.80 feet along the Easterly Right-of-way Line of said Weld County Road No. 7 to the Northerly Line of that tract of land conveyed to State of Colorado as described in Warranty Deed recorded May 14, 2004, as Reception No. 3180239 of the records of Weld County, Colorado; Thence S66°10'0l"E, 189.54 feet along the Northerly Line of that tract of land as described as said Reception No. 3180239 to an angle point thereof; Thence S03°35'13"E, 232.66 feet along the Northerly Line of that tract of land as described as said Reception No. 3180239 to an angle point thereof; Thence S85°07'19"E, 244.69 feet along the Northerly Line of that tract of land as described as said Reception No. 3180239 to a Northeasterly Corner thereof, also being the Northwesterly Corner of that tract of land conveyed to State of Colorado as described in Warranty Deed recorded May 14, 2004, as Reception No. 3180238 of the records of Weld County, Colorado; The following courses and distances are along the Northerly Line of that tract of land as described as said Reception No. 3180238: 4 Thence S85°07'19"E, 67.05 feet; Thence S49°30'20 11 E, 332.51 feet; Thence S05°40'35nE, 489.21 feet; Thence S87°38'47"E, 444.29 feet; Thence S80°50'20"E, 338.03 feet; Thence N71°32 1 07"E, 267.23 feet; Thence N61°05'07"E, 239.25 feet; Thence N40°32'44''E, 884.75 feet to the East Line of the NWl/4 of said Section 3; Thence leaving the Northerly Line of that tract of land as described as said Reception No. 3180238, S00°57'02"W, 443.31 feet along the East Line of the NWl/4 of said Section 3 to the Northerly Line of that tract of land conveyed to The State of Colorado as described in Quit Claim Deed recorded April 25, 2002, as Reception No. 2945897 of the records of Weld County, Colorado; Thence N23°35'13"E, 53.22 feet along the Northerly Line of that tract of land as described as said Reception No. 2945897 to an angle point thereof, also being an angle point of that tract of land conveyed to State of Colorado as described in Warranty Deed recorded October 7, 1991, as Reception No. 2265474 of the records of Weld County, Colorado; Thence N73°24'40"E, 1383.42 feet along the Northerly Line of that tract of land as described as said Reception No. 2265474 to an angle point there9f; Thence N50°27'13"E, 440.00 feet along the Northerly Line of that tract of land as described as said Reception No. 2265474 to an angle point thereof; Thence S89°51'47"E, 568.77 feet along the Northerly Line of that tract of land as described as said Reception No. 2265474 to the Westerly Line of Parcel No. 3 of Interstate Highway No. 25 [Project NH-IRCX 025-3(109)) conveyed to Department of Transportation, State of Colorado, as described in Warranty Deed recorded May 21, 1999, as Reception No. 2695322 of the records of Weld County, Colorado; Thence S00°25'26"W, 7.50 feet along the Westerly Line of said Parcel No. 3 of Interstate Highway No. 25 to the Southwest Corner thereof; Thence S89°50'54"E, 131.24 feet along the Southerly Line of said Parcel No. 3 of Interstate Highway No. 25 to the Westerly Line of Parcel No. 10 Rev. of Interstate Highway No. 25 [Project I 092-1 (1)) conveyed to The Department of Highways, State of Colorado, as described in Special Warranty Deed recorded April 2, 1958, in Book 1499 at Page 596 of the records of Weld County, Colorado; Thence S00°22'43"W, 67.47 feet along the Westerly Line of said Parcel No. 10 Rev. of Interstate Highway No. 25 to the Northerly Line of that tract of land as described as said Reception No. 2945897; Thence continuing S00°22 • 43"W, 1913. 60 feet along the Westerly Line of said Parcel No. 10 Rev. of Interstate Highway No. 25 to a point of curve to the left thereof; Thence Southerly, 561.00 feet along the arc of said curve and along the Westerly 5 Line of said Parcel No. 10 Rev. of Interstate Highway No. 25 to the TRUE POINT Of BEGINNING, said arc having a radius of 11595. 00 feet, a central angle of 2°46'20", and being subtended by a·chord that bears S01°00'27"E, 560.95 feet. EXCEPT a tract of land located in the SWl/4 of Section 3 T2N, R68W of the 6th P.M., County of Weld, State of Colorado, described as follows: COMMENCING at the El/4 Corner of said Section 3, from which the Southeast Corner of said Section 3 bears S00°29'13"W, 2668.40 feet (Basis of Bearing), thence S89°40'll"W, 2648.64 feet along the North Line of the SEl/4 of said Section 3 to the Cl/4 Corner of said Section 3; Thence S89°41'06"W, 2143.59 feet along the North Line of the SWl/4 of said Section 3 to the Easterly Line of that tract of land conveyed to Willard Guill as described in Warranty Deed recorded May 14, 1969, in Book 609 as Reception No. 1531360 of the records of Weld County, Colorado; Thence S00°47'14"W, 30.01 feet along the Easterly Line of that tract as described in said Book 609 as Reception No. 1531360 to the Southerly Right-of- way Line of Weld County Road No. 24.5 and the TRUE POINT Of BEGINNING; Thence continuing S00°47'14"W, 450.08 feet along the Easterly Line of that tract as described in said Book 609 as Reception No. 1531360 to the Southeast Corner thereof; Thence S89°41'06"W, 453.83 feet along the Southerly Line of that tract as described in said Book 609 as Reception No. 1531360 to the Easterly Right-of-way Line of Weld County Road No. 7; Thence N00°47'14"E, 450.08 feet along the Easterly Right-of-way Line of said Weld County Road No. 7 to the Southerly Right-of-way Line of said Weld County Road No. 24.5; Thence N89°41'06"E, 453.83 feet along the Southerly Right-of-way Line of said Weld County Road No. 24.5 to the TRUE POINT Of BEGINNING. Total Area= 407.861 acres, more or less. 6 RESOLUTION NO. 06-31 A RESOLUTION FINDING SUBSTANTIAL COMPLIANCE FOR AN ANNEXATION PETITION FILED WITH THE TOWN OF FIRESTONE, COLORADO,KNOWN AS THE ST. VRAIN STATE PARK ANNEXATION NO. 3 TO THE TOWN OF FIRESTONE, AND SETTING A PUBLIC HEARING THEREON. ' WHEREAS, a petition for annexation of certain property to be known as the St. Vrain State Park Annexation No. 3 has been filed with the Town Clerk of the Town ofFirestone, Colorado, and referred to the Board of Trustees of the Town for a determination of substantial compliance with applicable law; and WHEREAS, the Board of Trustees wishes to permit simultaneous consideration of the subject property for annexation and zoning, if requested in the petition; and WHEREAS, the Board of Trustees has reviewed the petition and desires to adopt by Resolution its findings in regard to the petition. NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF TRUSTEES OF THE TOWN OF FIRESTONE, COLORADO: Section 1. The petition, the legal description for which is attached hereto as Exhibit A and incorporated herein by reference, is in substantial compliance with the applicable laws of the State of Colorado. Section 2. Section 3. in the petition. No election is required under C.R.S. § 31-12-107(2). No additional terms and conditions are to be imposed except any provided for Section 4. The Board of Trustees will hold a public hearing for the purpose of determining if the proposed annexation complies with C.R.S. §§ 31-12-104 and 31-12-105, and will hold a public hearing to determine the appropriate zoning of the subject property, if requested in the petition, at the Firestone Town Hall, 151 Grant A venue, Firestone, Colorado 80520, on Thursday, October 12, 2006 at 7:00 P.M. Section 5. Any person may appear at such hearing and present evidence relative to the proposed annexation, or the proposed zoning if requested in the petition. Section 6. Upon completion of the hearing, the Board of Trustees will set forth, by resolution, its findings and conclusions with reference to the eligibility of the proposed annexation, 1 and whether the statutory requirements for the proposed annexation have been met; and further, will determine the appropriate zoning of the subject property if requested in the petition. Section 7. If the B9ard of Trustees concludes, by resolution, that all statutory requirements have been met and that the proposed annexation is proper under the laws of the State of Colorado, the Board of Trustees may pass one or more ordinances annexing the subject property to the Town of Firestone, and will pass one or more ordinances zoning the subject property if requested in the petition. INTRODUCED, READ, and ADOPTED this J 7ih day of August 06 . .. -···~owN·····• .. . .. ATTEST: -.. ..-··.. ..-· ~~~ Towne erk 08/14/2006 1:11 PM (kkhJS:1Firestonc\Anncwion\S1VBinStatcP&rlt ].comp res.doc 2 Michael P. Simone Mayor EXHIBIT A LEGAL DESCRIPTION ST. VRAIN STATE PARK ANNEXATION NO. 3 A tract of land located in the SEl/4 of Section 4, T2N, R68W of the 6th P.M., County of Weld, State of Colorado, described as follows: COMMENCING at the Southeast Corner of said Section 4, from which the Sl/4 Corner of said Section 4 bears S88"50'38"W, 2658.84 feet (Basis of Bearing), thence N00°47'14"E, 168.60 feet along the East Line of the SEl/4 of said Section 4 to the Northerly Line of Parcel No. 33 of State Highway No. 119 [Project S-SU- 0072(2)-SEC.2] conveyed to The Department of Highways, State of Colorado, as described in Special Warranty Deed recorded April 3, 1970, in Book 623 as Reception No. 1544823 of the records of Weld County, Colorado; Thence N89°28'52"W, 30.00 feet along the Northerly Line of said Parcel No. 33 of State Highway No. 119 to an angle point thereof, also being the Westerly Right-of-way Line of Weld County Road No. 7 and the TRUE POINT OF BEGINNING; Thence S45°41'08"W, 71.30 feet along the Northerly Line of said Parcel No. 33 of State Highway No. 119 to a point of non-tangent curve thereof; Thence Westerly, 538.81 feet along the arc of a curve concave to the South and along the Northerly Line of said Parcel No. 33 of State Highway No. 119 to a point tangent, said arc having a radius of 23020.00 feet, a central angle of 1°20'28", and being subtended by a. chord that bears S89°34'22"W, 538.80 feet; Thence S88°54'08"W, 1984.80 feet along the Northerly Line of said Parcel No. 33 of State Highway No. 119 to the Westerly Line of that tract of land conveyed to State of Colorado as described in Correction Deed recorded November 21, 2003, as Reception No. 3128803 of the records of Weld County, Colorado; The following courses and distances are along the Westerly Line of that tract of land as described as said Reception No. 3128803: Thence N18°08'32"E, 297.38 feet; Thence N30°37'40"E, 193.21 feet; Thence N49°50'16"E, 109.42 feet; Thence N36°48 1 15"E, 176.24 feet; Thence N38°43'44"E, 185.84 feet; Thence N47°51'28"E, 152.70 feet; Thence N55°04'40"E, 167.31 feet; Thence N58°22'24"E, 172. 27 feet; Thence N45°32' 06"E, 131.90 feet; Thence N28°51 1 S0 11 E, 131. 65 feet; Thence N00°28'38"E, 105.20 feet; Thence Nll 0 43'46"W, 157.42 feet; 3 Thence N41°57'17"W, 322. 43 feet; Thence N32°21'13"W, 123.02 feet; ·Thence N25°42'01"W, 87.95 feet; Thence N19°14'42"W, 327.25 feet; Thence N16°07 1 ll 11 W, 135 .18 feet; Thence N07°00'48"E, 104.30 feet to the Noicth Line of the SEl/4 of said Section 4; Thence leaving the Westerly Line of that tract of land as described as said Reception No. ~128803, N89°22'00"E, 2040.16 feet along the North Line of the SEl/4 of said Section 4 to the Westerly Right-of-way Line of said Weld County Road No. 7; Thence S00°47'14"W, 2457.33 feet along the Westerly Right-of-way Line of said Weld County Road No. 7 and the TRUE POINT OF BEGINNING. Area= 114.374 acres, more or less. 4 RESOLUTION NO. Q{a_-3.;:l_ A RESOLUTION ADOPTING THE NATIONAL INCIDENT MANAGEMENT SYSTEM (NIMS) WHEREAS, the President of the United States, in Homeland Security Presidential Directive No. 5 (HSPD-5), directed the Department of Homeland Security to develop and administer a National Incident Management System (NIMS) that would provide a consistent nationwide approach for federal, state, local, and tribal governments to work together more effectively and efficiently to prevent, prepare for, respond to, and recover from domestic incidents, regardless of cause, size, or complexity; and WHEREAS, NIMS provides a consistent nationwide platform to enable all government, private sector, and non-governmental organiz.ations to work together during domestic incidents regardless of cause, size, or complexity by providing standardized organiz.ational structures, interoperable communications, consolidated action plans, unified command structures, uniform personnel qualification standards, uniform standards for planning, training and comprehensive resource management, and designated incident facilities during emergencies or disasters; and WHEREAS, use of the Incident Command System (ICS) provides responders with common terminology and principles for incident command and control, and is an integral part of incident management activities; and WHEREAS, HSPD-5 requires all federal, state, local, and tribal government agencies to adopt NIMS and use it in their individual domestic incident management and emergency prevention, preparedness, response, recovery, and mitigation activities; and WHEREAS, HSPD-5 further requires adoption of NIMS by state and local government agencies as a condition in order to participate in federal preparedness programs, grants, contracts, and other activities; and WHEREAS, by Executive Order D-011-04, the Governor of the State of Colorado established NIMS as the state standard for incident management; and WHEREAS, the Board of Trustees finds the NIMS standardized procedures for managing personnel, communications, facilities, and resources will enable the Town to utilize federal funding to enhance local and state agency readiness, maintain first responder safety, and streamline incident management processes; and WHEREAS, the Board of Trustees further finds adoption of NIMS as the foundation for the Town's incident management, coordination, and support activities necessary for the preservation of the public health, safety, and welfare of the Town and its residents. NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF TRUSTEES OF THE TOWN OF FIRESTONE, COLORADO: Section 1. The National Incident Management System (NIMS} is hereby adopted as the Town's official all-hazards response system for incident management, coordination, and support activities. Section 2 All Town departments responsible for managing or supporting incident response and disaster operations shall incorporate NIMS into their planning, training, and operations as prescribed by the United States Department of Homeland Security. Section 3, The Incident Command Systems (ICS) is hereby adopted for command and control of all incident response operations. Section 4, All Town employees are hereby directed to take such actions and render such aid and assistance as is required for implementation of NIMS. INTRODUCED, READ, and ADOPTED this 2':f_ day of A«Jurt. , 2006. TOWN OF FIRES COLORADO .-·••··TOWN··· .•... . •. ····...... . ... ----- ATTEST: 08/IOl'l006 2:01 PM [kkh] S:\f'~\NIMS.doc 2 RESOLUTION NO. Oti-33 A RESOLUTION AUTHORIZING REBATES OF THE TOWN USE TAX AND TOWN BUILDING PERMIT FEE PAID IN CONNECTION WITH THE DEVELOPMENT OF THE PROPOSED FREDERICK-FIRESTONE FIRE PROTECTION DISTRICT STATION NO. 3 WHEREAS, the Board of Trustees by Ordinance No. 603 approved the sale and conveyance of certain property to the Frederick-Firestone Fire Protection District (the "District"), such property being conveyed for so long as the Property is used for an operational fire station and no longer, and as further provided in such ordinance; and WHEREAS, the District has submitted a final development plan application and building permit application for development of its Fire Station No. 3 on the fire station site and has requested the waiver and/or rebate of certain Town fees and taxes otherwise applicable to development of the site; and WHEREAS, the Town Board finds that development of the site for an operational fire station will be of benefit to the Town, its residents and property owners and that rebate of certain Town use taxes and the Town's portion of the building permit fee otherwise applicable to the development is appropriate. NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF TRUSTEES OF THE . TOWN OF FIRESTONE, COLORADO: Section J. The Board of Trustees hereby authorizes the rebate of the following fees and use taxes associated with the initial development and construction of Frederick-Firestone Fire Protection District Fire Station No. 3, located on Tract C, Firestone Community Subdivision: A. Town use tax for the initial building permit, not to exceed $10,148.60; and B. The Town's portion of the building permit fee for the initial building permit, not to exceed $1,804.70. Section 2 The fee and use tax rebates authorized in this Resolution are subject to compliance by the District with all terms and conditions of the Town-approved final development plan for Fire Station No. 3; in the event it is determined by admission or order of a court that the District has failed to comply with such terms and conditions, then the fee and use tax rebated pursuant to this Resolution shall be due and payable to the Town. Section 3-The Board of Trustees does not by this Resolution waive or authorize the rebate of any other fees, taxes or other assessments otherwise applicable to initial development and construction of Fire Station No. 3, and the rebates herein authorized apply only to the initial building permit issues for Fire Station No. 3. PASSED AND ADOPTED this~ day of 4Uj1Ao+ , 2006. Attest: 8/21/l006 6:0S PM{lijl) Y:\F°~acs Station Site-Fcc Rehm Resolution 2 ~IP.Simone Mayor RESOLUTION NO. J2.LI.S A RESOLUTION CALLING A SPECIAL ELECTION FOR NOVEMBER 7, 2006, TO BE CONDUCTED AS A COORDINATED ELECTION, AND APPROVING A MEMORANDUM OF INTERGOVERNMENTAL AGREEMENT FOR CONDUCT OF GENERAL ELECTIONS BY AND BETWEEN THE TOWN OF FIRESTONE, THE WELD COUNTY CLERK AND RECORDER AND THE BOARD OF COUNTY COMMISSIONERS FOR WELD COUNTY WHEREAS, the Weld County Clerk and Recorder will conduct a general election on November 7, 2006, as a coordinated election pursuant to the Uniform Election Code and, in particular, C.R.S. Section 1-7-116; and WHEREAS, the Board of Trustees desires to call a special municipal election for November 7, 2006, pursuant to state law, and to participate in the coordinated general election; and WHEREAS, the attached Memorandum of Intergovernmental Agreement for Conduct of General Elections provides for the conduct and financing of such election. NOW THEREFORE, BE IT RESOLVED BY THE BOARD OF TRUSTEES OF THE TOWN OF FIRESTONE, COLORADO: Section I. Pursuant to C.R.S. Section 31-10-108, a special election is hereby called and set for Tuesday, November 7, 2006, to be held as part of the coordinated general election. Section 2. The Board of Trustees shall submit ballot issues, ballot questions or other measures to appear on the ballot of the special municipal election by the adoption of appropriate resolutions or ordinances as required by law. Section 3. The ballot titles for such ballot issues, ballot questions or other measures shall hereafter be set in accordance with applicable law. Section 4. The proposed Memorandum ofintergovernmentaI Agreement for Conduct of General Elections ("Intergovernmental Agreement"), a copy of which is attached hereto and incorporated herein by this reference, is hereby approved. Section 5. Pursuant to C.R.S. Section 31-10-102.7, the Town will utilize the requirements and procedures of the Uniform Election Code of 1992, Articles 1 to 13 of Title 1, C.R.S., as amended, in lieu of the Colorado Municipal Code of 1965, Article 10 of Title 31, C.R.S., as amended. The Town Clerk is hereby appointed as the designated election official of the Town for purposes of performing acts required or permitted by law in connection with the election and in accordance with the terms of the Intergovernmental Agreement. 1 Section 6. The Mayor and Town Clerk are hereby authorized to execute the Intergovernmental Agreement on behalf of the Town of Firestone, except that such persons are hereby further authorized to negotiate and approve such revisions to the Intergovernmental Agreement as are determined necessary or desirable for the protection of the Town, so long as the essential terms and conditions of the Intergovernmental Agreement are not altered. INTRODUCED, READ AND ADOPTED this 7""-day of 5 q'°if1t1ht Y , 2006. .. ·...-~ow~····· ... . ·. ··•·... .--···-- A lf!:a.~ own Clerk S/18/2006 I :21 PM {edl] S:\Fircstone\Elcaion\2006ElcctionlGA.re,,doc 2 TOWN OF FIRESTONE, COLORADO L~ Michael P. 8im0Re Denn,·.s Be,fr-on Mayor Pro=f-em RESOLUTION NO. 0 ~ -3 fo A RESOLUTION REFERRING TABOR BALLOT ISSUES TO A VOTE OF THE REGISTERED ELECTORS OF THE TOWN OF FIRESTONE AT A SPECIAL MUNICIPAL ELECTION TO BE HELD NOVEMBER 7, 2006 WHEREAS, the Town of Firestone (the "Town") is a statutory town existing under and by virtue of laws of the State of Colorado; and WHEREAS, pursuant to voter authorization, the Town has previously adopted a sales tax ordinance for the Town, which ordinance is as set forth in Chapter 3.08 of the Firestone Municipal Code; and WHEREAS, the Board of Trustees finds that an increase in the Town's sale tax rate and extension of the Town's sales tax to the sale of food for domestic home consumption as defined in C.R.S. §39-26-102( 4.5), for a ten-year period, will produce additional revenues for the Town, for the development, construction, operation and maintenance of Firestone Central Park and the Firestone Regional Sports Complex; and; and WHEREAS, Article X, Section 20 of the Colorado Constitution, also referred to as the Taxpayer's Bill of Rights ("TABOR") requires voter approval for any new tax, tax rate increase, tax policy change directly causing a net revenue gain, and the spending of certain funds above limits established by TABOR; and WHEREAS, the Board of Trustees desires to refer to the registered electors of the Town TABOR ballot issues authorizing, for a ten-year period, an increase in the rate of the Town's sales tax and extension of the Town's sales tax to the sale of food for domestic home consumption as defined in C.R.S. §39-26-102( 4.5); and WHEREAS, pursuant to and as required by the Constitution and laws of the State of Colorado, it is necessary to have voter approval of a TABOR ballot issue concerning such tax rate increase and change in the Town's sales tax base, and that it is also necessary to have voter approval to allow funds collected through such taxes to be reserved for, carried over to and expended in subsequent years; and WHEREAS, TABOR requires that the Town submit ballot issues, as defined in TABOR, to the Town's registered electors on specified election days before action can be taken on such ballot issues; and WHEREAS, the Town will hold a special municipal election on November 7, 2006, to be coordinated with Weld County as part of the General Election, and such date is one of the election dates at which TABOR ballot issues may be submitted to the registered electors of the Town; and WHEREAS, the Board of Trustees finds it is in the best interest of the Town and its citizens to submit to the registered electors the TABOR ballot issues herein set forth. NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF TRUSTEES OF THE TOWN OF FIRESTONE, COLORADO: Section ] . The following ballot issue, certified in substantially the form set forth below, is hereby referred to the registered electors of the Town and shall appear on the ballot of the Town of Firestone special municipal election to be held on November 7, 2006: BALLOT ISSUE SHALL TOWN OF FIRESTONE TAXES BE INCREASED $1,445,462 ANNUALLY, COMMENCING IN 2007, AND THEREAFTER BY WHATEVER ADDITIONAL AMOUNTS ARE RECENED EACH YEAR FROM AN INCREASE_ IN THE TOWN SALES TAX RATE FROM 2.0 PERCENT TO 3.0 PERCENT AND IMPOSITION OF SUCH 3.0 PERCENT SALES TAX UPON THE SALE OF FOOD FOR DOMESTIC HOME CONSUMPTION, AND IN CONNECTION THEREWITH, SHALL AN ORDINANCE BE APPROVED PROVIDING FOR SUCH 1.0 PERCENT INCREASE AND FOOD TAX TO COMMENCE ON JANUARY I, 2007 AND END ON DECEMBER 31, 2017, WITH ALL REVENUES DERNED FROM SUCH 1.0 PERCENT INCREASE AND 3.0 PERCENT FOOD TAX TO BE COLLECTED, RETAINED AND SPENT EXCLUSNELY FOR CAPITAL IMPROVEMENT PUPROSES, AS DEFINED IN C.R.S. 29-1-111(4), FOR FIRESTONE CENTRAL PARK AND THE FIRESTONE REGIONAL SPORTS COMPLEX; AND SHALL THE TOWN BE PERMITTED TO COLLECT, RETAIN AND EXPEND ALL REVENUES DERNED FROM THE FULL 3.0 PERCENT SALES TAX AS A VOTER-APPROVED REVENUE CHANGE AND AN EXCEPTION TO LIMITS WHICH WOULD OTHERWISE APPLY UNDER ARTICLE X, SECTION 20 OF THE COLORADO CONSTITUTION OR ANY OTHER LAW? YES NO Section 2. The Board of Trustees may submit additional ballot issues or other referred measures to appear on the ballot of the November 7, 2006 special municipal election by the adoption of an appropriate resolution or ordinance as required by law. Section 4. The officers and employees of the Town are hereby authorized and directed to take all necessary and appropriate action to effectuate the provisions of this Resolution in accordance with Colorado law. Section S-Pursuant to C.R.S. Section 31-10-102.7, the Town will utilize the requirements and procedures of the Uniform Election Code of 1992, articles I to 13 of title I, C.R.S., as amended, in lieu of the Colorado Municipal Election Code of 1965, article IO of title 31, C.R.S., as amended, with respect to the special municipal election to be held on November 7, 2 2006, and such election shall be conducted as part of a coordinated election. INTRODUCED, READ AND ADOPTED this 7-#-i day of ScphmfiRr , 2006. TOWN OF FIRESTONE, COLORADO .•.. •·· ······• ... 10'1ltl ··•. . s£-i'\. .,_ . . . . ·-.. ..•• Mi P S;;e ~ Be~n Mayor 11-o*~ A 9nl2006 6:00 PM[sjl] S:\Frrcs1.one\Resohnion\Elcction Questions 2006-9-07-06 Clc:3n Draft 3 RESOLUTION NO. ~'37 A RESOLUTION APPROVING AN INTERGOVERNMENTAL AGREEMENT BETWEEN THE TOWN OF FIRESTONE AND THE WELD LIBRARY DISTRICT WHEREAS, there has been proposed an Intergovernmental Agreement ("Agreement") between the Town of Firestone and the Weld Library District ("District"), to provide for the construction of a library building in Firestone ("Library"), and the provision of library services to the citizens and residents of Firestone and other residents of the District; and WHEREAS, such Agreement sets forth the agreement of the Town and the District regarding the construction of the Library and sets forth the rights, obligations, and responsibilities of the Town and the District, financial and otherwise; and WHEREAS, the Town is authorized to enter into such Agreement and finds that such Agreement is in the best interests of the Town and its citizens. NOW THEREFORE, BE IT RESOLVED BY THE BOARD OF TRUSTEES OF THE TOWN OF FIRESTONE, COLORADO: Section ] , The proposed Intergovernmental Agreement between the Town of Firestone and the Weld Library District, to provide for the construction of a library building in Firestone and the provision of library services to the citizens and residents of Firestone and other residents of the District, is hereby approved in essentially the same form as the copy of such Agreement accompanying this resolution. Section 2 The Mayor is hereby authorized to execute the Agreement on behalf of the Town, and is further authorized to negotiate and approve on behalf of the Town such revisions to the Agreement as the Mayor determines are necessary or desirable for the protection of the Town, so long as the essential terms and conditions of the Agreement are not altered. INTRODUCED, READ, and ADOPTED this 7..../11 day of ,5 epi"<lh h.t r , 2006. ATTEST: fit!rftlllJ_p own Clerk 911/2006 8:36 AMlcdl] S:\f'~\Llbrmy.lGAapproval.res.docOia.ucrlGAra TOWN OF FIRESTONE, COLORADO .:11,tichael P. Simone D~nn1s BeY--fion Mayor -A-trl:i,"' RESOLUTION NO. 12..k.:.38 SERIES2006 A RESOLUTION APPROVING A SPECIAL USE PERMIT FOR KERR-McGEE ROCKY MOUNTAIN CORPORATION TO LOCATE AN OIL AND GAS WELL WITHIN THE TOWN OF FIRESTONE. WHEREAS, Kerr-McGee Rocky Mountain Corporation (hereinafter "Kerr-McGee" or "Applicant") has submitted to the Board of Trustees of the Town of Firestone an application for a special use permit to locate within the Town an oil and gas well referred to as the Homestead 4-4 Well;and WHEREAS, Kerr-McGee has submitted the application and supporting materials pursuant to Chapter 15.48 of the Firestone Municipal Code; and WHEREAS, all materials related to the proposed special use have been reviewed by Town Staff and found with conditions to be in compliance with Town of Firestone subdivision, zoning, and oil & gas ordinances, Development Regulations, and related Town ordinances, regulations, and policies; and WHEREAS, the Firestone Planning and Zoning Commission on September 20, 2006 held a properly noticed public hearing on the proposed special use permit application, and has forwarded to the Board of Trustees a recommendation of approval with conditions; and WHEREAS, after a duly-noticed public hearing, at which evidence and testimony were entered into the record, the Board of Trustees finds the special use request for the Homestead 4-4 Well should be approved subject to certain conditions. NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF TRUSTEES OF THE TOWN OF FIRESTONE, COLORADO: Section J The Board of Trustees hereby approves the special use permit request of Kerr- McGee Rocky Mountain Corporation for location of the Homestead 4-4 Well within the Town of Firestone, in the location more particularly described in Exhibit A attached hereto, subject to the following conditions: I. The production facilities, as developed or modified, shall be of a low profile style, with a maximum height not to exceed twelve (12) feet. 2. The Town's special use approval shall expire on the date of expiration of the Oil and Gas Conservation Commission Permit to drill the well or one year from the date of Town approval, whichever is later, if operations for the well are not commenced by such date. In the event special use approval expires, the Applicant shall apply for a new special use permit pursuant to Chapter 15.48 of the Firestone Town Code. 3. Oil and gas operations shall be conducted in compliance with all federal, state, and local laws, rules and regulations, including but not limited to the Colorado Oil and Gas Conservation Commission permit for such well and the final special use permit application materials approved by the Town Board, which materials will be incorporated therein by reference. Applicant shall provide to the Town copies of all state approved permits, waivers, variances and subsequent notices filed with the state and affecting the well. 4. Prior to entering the site, Applicant shall obtain from the Town necessary building permits and notices to proceed. 5. Prior to moving the drilling rig onto the well site, Applicant shall obtain from the Town and Weld County necessary permits to move the drilling rig equipment within the Town and County. 6. Applicant shall provide to the Town copies of any executed surface damage agreements or memoranda thereof respecting operation of the well. 7. In the exercise of its rights pursuant to this special use approval, Applicant shall avoid any damage or interference with any Town installations, structures, utilities, or improvements. Applicant shall be responsible for all damages to such interests of the Town that are caused by the Applicant. 8. Applicant at its sole expense shall control fugitive dust at the well site and on access roads on an as-needed basis. Methods and chemicals used for dust control shall comply with Town ordinances and regulations. 9. The oil/gas well facilities shall utilize setbacks as specified in the Colorado Oil and Gas Conservation Commission Rules and Regulations or the Firestone Town Code, whichever is more restrictive. The well site and tank battery and separator areas shall be secured and screened by chain link fencing with "solid" tan aluminum or vinyl lathing. 10. Water sources for drilling activities shall be from the Town of Firestone, if a water tap is utilized. 11. Machinery at the site shall be well-oiled and well-maintained to mitigate noise. 12. To the extent reasonably possible, orient the drill rig and associated motors and exhaust systems such that they point away from existing residences in the vicinity. 2 I 3. Drill rigs shall, to the extent reasonably possible, be equipped with higher quality noise reducing mufflers. 14. During drilling, use a tarp around drilling floor and drawworks to muffle sound. 15. Deliveries and construction traffic to and from the site shall, whenever possible, be scheduled during daylight hours. 16. To the extent reasonably possible, keep the door to the drill rig engine closed. 17. Revise plans to conform to redline comments of the Town Engineer. 18. The use of pump jacks shall be limited to those running on electric motors. 19. The drilling rig used for drilling operations shall be Model CAZA-54 or equivalent type of drill rig. 20. Pursuant to Section 15.48.040.C.4 and 6 of the Firestone Municipal Code, provide evidence that the proposed emergency response plan and fire protection plan are acceptable to the appropriate fire district. PASSED AND ADOPTED this zrday of ,Se efem tic , 2006. ~~ Michael P. Simone Mayor EXHIBIT A: Well Location The approximate location of the proposed Homestead 4-4 Well is southeast of the intersection of Zinnia Avenue (Road 26) and Ingalls Street (Road 17), and the le\al description for the location is the NW/4NW/4 of Section 4, Township 2 North, Range 67 West, 6 P.M. 09/25/2006 5:43 PM (Uh) S:\F"trestonc'&bdivisiom\KerrMcOee ('06).TB.rculoc 4 RESOLUTION NO. 00-3 9 A RESOLUTION FINDING SUBSTANTIAL COMPLIANCE FOR AN ANNEXATION PETITION FILED WITH THE TOWN OF FIRESTONE, COLORADO, KNOWN AS THE KUGEL SECOND ANNEXATION TO THE TOWN OF FIRESTONE, AND SETTING A PUBLIC HEARING THEREON. WHEREAS, a petition for annexation of certain property to be known as the Kugel Second Annexation has been filed with the Town Clerk of the Town of Firestone, Colorado, and referred to the Board of Trustees of the Town for a determination of substantial compliance with applicable law; and WHEREAS, the Board of Trustees wishes to permit simultaneous consideration of the subject property for annexation and zoning, if requested in the petition; and WHEREAS, the Board of Trustees has reviewed the petition and desires to adopt by Resolution its findings in regard to the petition. NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF TRUSTEES OF THE TOWN OF FIRESTONE, COLORADO: Section 1. The petition, the legal description for which is attached hereto as Exhibit A and incorporated herein by reference, is in substantial compliance with the applicable laws of the State of Colorado. Section 2. Section 3. in the petition. No election is required under C.R.S. § 31-12-107(2). No additional terms and conditions are to be imposed except any provided for Section 4. The Board of Trustees will hold a public hearing for the purpose of determining if the proposed annexation complies with C.R.S. §§ 31-12-104 and 31-12-105, and will hold a public hearing to determine the appropriate zoning of the subject property, ifrequested in the petition, at the Firestone Town Hall, 151 Grant Avenue, Firestone, Colorado 80520, on Thursday, November 9, 2006 at 7:00 P.M. Section S. Any person may appear at such hearing and present evidence relative to the proposed annexation, or the proposed zoning if requested in the petition. Section 6. Upon completion of the hearing, the Board of Trustees will set forth, by resolution, its findings and conclusions with reference to the eligibility of the proposed annexation, and whether the statutory requirements for the proposed annexation have been met, and further, will determine the appropriate zoning of the subject property ifrequested in the petition. 1 Section 7.. If the Board of Trustees concludes, by resolution, that all statutory requirements have been met and that the proposed annexation is proper under the laws of the State of Colorado, the Board of Trustees may pass one or more ordinances annexing the subject property to the Town of Firestone, and will pass one or more ordinances zoning the subject property if requested in the petition. ::J,1-,. INTRODUCED, READ, and ADOPTED this Z[_ day of ':>edzm t)t(, 2006. O'JflS/2006 S:29 PM [kkh)S:IF~onc\Annc.ution\Kugd 2nd (ROW) comp res.doc 2 Michael P. Simone Mayor EXHIBIT A LEGAL DESCRIPTION KUGEL SECOND ANNEXATION LEGAL DESCRIPTION OF KUGEL SECOND ANNEXATION TO THE TOWN OF FIRESTONE KNOW ALL MEN BY THESE PRESENTS THAT THE TOWN OF FIRESTONE, BEING THE SOLE OWNER AND PROPRIETOR OF THE FOLLOWING DESCRIBED LAND TO WIT: A STRIP OF LAND, 20.00 FEET IN WIDTH, LOCATED IN THE NORTH ONE-HALF OF SECTION 18, TOWNSHIP 2 NORTH, RANGE 67WEST OF THE6TH P.M., COUNTY OF WELD, STATE OF COLORADO, BEING THE SAME PORTION OF LAND AS DESCRIBED IN AN EASEMENT DEED FOR USE AS A PUBLIC RIGHT-OF-WAY AS RECORDED AT RECEPTION No. 2732951, BEING MORE PARTICULARLY DESCRIBED AS FOLLOWS: COMMENCING AT THE NORTH QUARTER CORNER OF SAID SECTION 18, FROM WHICH THE NORTHWEST CORNER OF SAID SECTION 18 BEARS N89"30'49'W (BASIS OF BEARING) (PREVIOUSLY RECORDED AS N89°30'43"W), WITH ALL OTHER BEARINGS RELATIVE THERETO; THENCE S00°17'52"E, 30.00 FEET (PREVIOUSLY RECORDED AS S00°17'56"E, 30.00 FEET) ALONG THE WEST LINE OF THE NORTHEAST QUARTER OF SAID SECTION 18 TO THE TRUE POINT OF BEGINNING; THENCE S89°15'53"E, 2591.29 FEET (PREVIOUSLY RECORDED AS S89°15'55"E, 2591.37 FEET) TO THE WESTERLY RIGHT-OF-WAY LINE OF COUNTY ROAD 15; THENCE S00°53'21 "E, 20.00 FEET (PREVIOUSLY RECORDED AS S00°53'19"E, 20.01 FEET) ALONG THE WESTERLY RIGHT-OF-WAY LINE OF SAID COUNTY ROAD 15; THENCE N89°15'53"W, 2591.50 FEET (PREVIOUSLY RECORDED AS N89°15'55'W, 2591.57 FEET) TO THE WEST LINE OF THE NORTHEAST QUARTER OF SAID SECTION 18; THENCE N89°30'49'W, 2079.21 FEET (PREVIOUSLY RECORDED AS N89°30'43'W, 2079.10 FEET) TO THE EASTERLY RIGHT-OF-WAY LINE OF THE FORMER UNION PACIFIC RAILROAD COMPANY AS RECORDED IN THE OFFICE OF THE WELD COUNTY CLERK AND RECORDER IN BOOK 305 AT PAGE 15, ALSO BEING THE EASTERLY LINE OF THAT PARCEL OF LAND CONVEYED TO THE TOWN OF FIRESTONE AS RECORDED IN THE OFFICE OF THE WELD COUNTY CLERK AND RECORDER UNDER RECEPTION NO. 2538622 IN BOOK 1596; THENCE ALONG SAID EASTERLY LINE N00°16'49"E, 20.00 FEET; THENCE S89°30'49"E, 2079.01 FEET (PREVIOUSLY RECORDED AS S89°30'43"E, 2078.90 FEET) TO THE WEST LINE OF THE NORTHEAST QUARTER OF SAID SECTION 18 AND THE TRUE POINT OF BEGINNING. SAID PARCEL CONTAINS 2.14 ACRES MORE OR LESS (93,397 SQUARE FEET). HAVE CAUSED THE ABOVE DESCRIBED TRACT OF LAND TO BE ANNEXED UNDER THE NAME OF KUGEL SECOND ANNEXATION TO THE TOWN OF FIRESTONE, COLORADO. 3 RESOLUTIONNO. 0~-40 A RESOLUTION FINDING SUBSTANTIAL COMPLIANCE FOR AN ANNEXATION PETITION FILED WITH THE TOWN OF FIRESTONE, COLORADO, KNOWN AS THE FIRESTONE 7TH ANNEXATION TO THE TOWN OF FIRESTONE, AND SETTING A PUBLIC HEARING THEREON. WHEREAS, a petition for annexation of certain property to be known as the Firestone 7th Annexation has been filed with the Town Clerk of the Town of Firestone, Colorado, and referred to the Board of Trustees of the Town for a determination of substantial compliance with applicable law; and WHEREAS, the Board of Trustees wishes to permit simultaneous consideration of the subject property for annexation and zoning, if requested in the petition; and WHEREAS, the Board of Trustees has reviewed the petition and desires to adopt by Resolution its findings in regard to the petition. NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF TRUSTEES OF THE TOWN OF FIRESTONE, COLORADO: Section 1. The petition, the legal descriptions for which are attached hereto as Exhibit A and incorporated herein by reference, is in substantial compliance with the applicable laws of the State of Colorado. Section 2. Section 3. in the petition. No election is required under C.R.S. § 31-12-107(2). No additional terms and conditions are to be imposed except any provided for Section 4. The Board of Trustees will hold a public hearing for the purpose of determining if the proposed annexation complies with C.R.S. §§ 31-12-104 and 31-12-105, and will hold a public hearing to determine the appropriate zoning of the subject property, if requested in the petition, at the Firestone Town Hall, 151 Grant Avenue, Firestone, Colorado 80520, on Thursday, November 9, 2006 at 7:00 P.M. Section 5. Any person may appear at such hearing and present evidence relative to the proposed annexation, or the proposed zoning if requested in the petition. Section 6. Upon completion of the hearing, the Board of Trustees will set forth, by resolution, its findings and conclusions with reference to the eligibility of the proposed annexation, and whether the statutory requirements for the proposed annexation have been met, and further, will determine the appropriate zoning of the subject property if requested in the petition. 1 Section 7. If the Board of Trustees concludes, by resolution, that all statutory requirements have been met and that the proposed annexation is proper under the laws of the State of Colorado, the Board of Trustees may pass one or more ordinances annexing the subject property to the Town of Firestone, and will pass one or more ordinances zoning the subject property if requested in the petition. INTRODUCED, READ, and ADOPTED this 2-9,-#, day ofSej>Rm /Ji ( , 2006. ./~ov,JN ·• .•...•. Sf-~L J . . .. ·.· .. ·· ~cilguJ wnClerk 09n5/2006 S:36 PM (kkb)S:\Frrcstone\An:ncxation\rlrestonc 7th (ROW) comp res.doe 2 Y'l.~ Michael P. Simone Mayor EXHIBIT A LEGAL DESCRIPTION FIRESTONE SEVENTH ANNEXATION A PARCEL OF LAND LOCATED IN THE EAST HALF OF SECTION 12, AND THE EAST HALF OF SECTION 13; TOWNSHIP 2 NORTH, RANGE 68 WEST OF THE 6TH PRINCIPAL MERIDIAN; COUNTY OF WELD, STATE OF COLORADO, BEING MORE PARTICULARLY DESCRIBED AS FOLLOWS: PARCEL A BEGINNING AT THE NORTHEAST CORNER OF SAID SECTION 12, TOWNSHIP 2 NORTH, RANGE 68 WEST, AND CONSIDERING THE NORTH LINE OF THE NORTHEAST QUARTER OF SAID SECTION 12 TO HAVE AN ASSUMED BEARING OF S89°53'08''W WITH ALL OTHER BEARINGS CONTAINED HEREIN RELATIVE THERETO; THENCE S01°46'29''W, 47.66 FEET; THENCE N88°44'09''W, 458.78 FEET; THENCE N88°26'36''W, 223.80 FEET; THENCE N01°46'29"E, 50.00 FEET; THENCE S88°26'35"E, 682.56 FEET TO THE POINT OF BEGINNING AND ALSO, PARCEL B BEGINNING AT THE SOUTHEAST CORNER OF SAID SECTION 13, TOWNSHIP 2 NORTH, RANGE 68 WEST; AND CONSIDERING THE EAST LINE OF THE NORTHEAST QUARTER OF SAID SECTION 13 TO HAVE AN ASSUMED BEARING OF S00°15'18''W WITH ALL OTHER BEARINGS CONTAINED HEREIN RELATIVE THERETO; THENCE S00°15'18''W, 1,881.33 FEET; THENCE N89°04'42''W, 50.00 FEET; THENCE N00°15'18"E, 1,881.33 FEET; THENCE N89°12'58''W, 73.45 FEET; THENCE N00°50'24"E, 50.00 FEET; THENCE S89°09'37"E, 65.62 FEET; THENCE 23.75 FEET ALONG A NON-TANGENT CURVE TO THE LEFT HAVING A RADIUS OF 14.95 FEET, A CENTRAL ANGLE OF 91 °00'58", AND A CHORD WHICH BEARS N45°31 '18"E, 21.33 FEET; THENCE N00°05'34"E, 427.74 FEET; THENCE S89°54'29"E, 42.00 FEET; THENCE S00°05'34''W, 493.46 FEET TO THE POINT OF BEGINNING. AND ALSO, PARCELC COMMENCING AT THE EAST QUARTER CORNER OF SECTION 13, TOWNSHIP 2 NORTH, RANGE 68 WEST; 3 THENCE N89°39'07'W, 30.00 FEET TO THE POINT OF BEGINNING; THENCE S00°15'28'W, 2,146.76 FEET; THENCE N89°51'35'W, 30.00 FEET; THENCE N00°15'28"E, 2,146.87 FEET; THENCE S89°39'07"E, 30.00 FEET TO THE POINT OF BEGINNING SAID PARCELS CONTAIN 4.98 ACRES (216,892 SQUARE FEET) MORE OR LESS AND IS SUBJECT TO ALL RIGHTS-OF-WAY, EASEMENTS AND RESTRICTIONS OF RECORD OR THAT NOW EXIST ON THE GROUND. 4 RESOLUTION NO. Otz~ '-{ / A RESOLUTION FINDING SUBSTANTIAL COMPLIANCE FOR AN ANNEXATION PETITION FILED WITH THE TOWN OF FIRESTONE, COLORADO, KNOWN AS THE CAMBRIA CROSSING ANNEXATION TO THE TOWN OF FIRESTONE, AND SETTING A PUBLIC HEARING THEREON. WHEREAS, a petition for annexation of certain property to be known as the Cambria Crossing has been filed with the Town Clerk of the Town of Firestone, Colorado, and referred to the Board of Trustees of the Town for a determination of substantial compliance with applicable law; and WHEREAS, the Board of Trustees wishes to permit simultaneous consideration of the subject property for annexation and zoning, if requested in the petition; and WHEREAS, the Board of Trustees has reviewed the petition and desires to adopt by Resolution its findings in regard to the petition. NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF TRUSTEES OF THE TOWN OF FIRESTONE, COLORADO: Section I. The petition, the legal description for which is attached hereto as Exhibit A and incorporated herein by reference, is in substantial compliance with the applicable laws of the State of Colorado. Section 2. Section 3. in the petition. No election is required under C.R.S. § 31-12-107(2). No additional terms and conditions are to be imposed except any provided for Section 4. The Board of Trustees will hold a public hearing for the purpose of determining if the proposed annexation complies with C.R.S. §§ 31-12-104 and 31-12-105, and will hold a public hearing to determine the appropriate zoning of the subject property, if requested in the petition, at the Firestone Town Hall, 151 Grant Avenue, Firestone, Colorado 80520, on Thursday, November 9, 2006 at 7:00 P.M. Section 5. Any person may appear at such hearing and present evidence relative to the proposed annexation, or the proposed zoning if requested in the petition. Section 6. Upon completion of the hearing, the Board of Trustees will set forth, by resolution, its findings and conclusions with reference to the eligibility of the proposed annexation, and whether the statutory requirements for the proposed annexation have been met, and further, will determine the appropriate zoning of the subject property if requested in the petition. 1 Section 7. If the Board of Trustees concludes, by resolution, that all statutory requirements have been met and that the proposed annexation is proper under the laws of the State of Colorado, the Board of Trustees may pass one or more ordinances annexing the subject property to the Town of Firestone, and will pass one or more ordinances zoning the subject property if requested in the petition. '11, INTRODUCED, READ, and ADOPTED this,2£__ day of...JJ.r;;J:i,~L ~~~~w,n,Y yHegwd own Cler~ 9/2S/2006 4;◄7 PM(sjl]S:\Fu-estonc\Amic:wion\Cambria Crossing.comp res.doc 2 Michael'P. Simone Mayor EXHIBIT A LEGAL DESCRIPTION CAMBRIA CROSSING ANNEXATION 3 RESOLUTION NO. ()&:, -Lf d-. A RESOLUTION APPROVING THE 2006 FIRESTONE, COLORADO MASTER PLAN WHEREAS, the Planning Commission held a public hearing on the proposed 2006 Firestone, Colorado Master Plan for the Town's planning area, notice of which was provided to the public; and WHEREAS, on October 4, 2006, the Planning Commission adopted the 2006 Master Plan; and WHEREAS, the Board of Trustees wishes to approve said 2006 Master Plan as attached hereto and incorporated herein by reference. NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF TRUSTEES OF THE TOWN OF FIRESTONE, COLORADO: Section 1. The 2006 Firestone, Colorado Master Plan, including the maps and other matters described and incorporated therein and attached thereto, is hereby approved as the master plan for the physical development of the Town of Firestone, subject to the conditions set forth in Exhibit A attached hereto and incorporated herein by this reference. Section 2. A certified copy of the 2006 Master Plan, as modified in accordance with Exhibit A hereto, shall be filed with the Clerk and Recorder of Weld County. Section 3. Existing resolutions or motions, or parts of resolutions or motions, covering the same matters as embraced in this resolution are hereby repealed, except that this repeal shall not affect or prevent any proceedings pursuant to any resolution or motion herein repealed prior to the effective date of this resolution. INTRODUCED,READ,andADOPTEDthis /:1...µ.,dayof Qdz>lli r 2006. TOWN OF FIRES OLORADO fYh Michael P. Simone, Mayor JQ.'09n.006 5:06 PM [kkh] S:\f'U'eStone\Resolution\Master Plan '06.doc EXHIBIT A 2006 Firestone, Colorado Master Plan Conditions of Approval I. Fix typographical and grammatical errors throughout. 2. Modify Plan pursuant to comments from the Town Engineer and Town Attorney. 3. Replace special district maps or other reference maps to reflect updated information (e.g., boundary of Recreation District). 4. Use updated Parks and Trails Phase I map, which includes a trail across Booth Farm Park and across the St. Vrain Ranch development. 5. Use updated Drainage map. 6. Add disclaimer on map accuracy. 7. Enlarge the Parks Trails and Open Space map. 8. Include large overall Master Plan map in back of document. 9. Clarify that Mixed Use is along First Street, between McClure and Grant. 10. Make the western end of the Municipal Growth Boundary consistent with state park's western boundary. 11. In Section 12. 7, delete from first sentence the phrase "except for low density single family residential." 12. Add the following note to the map legend for Figure 22, Firestone Master Plan Map: "The land use designations, as well as the designations of C/OF areas within MU areas, are illustrative only and are not intended to depict parcel-specific locations, specific locations of C/OF areas within MU areas, or exact acreages for specific uses." RESOLUTION NO. 06-J../ 3 A RESOLUTION CONCERNING A PETITION FOR THE ANNEXATION OF PROPERTY TO THE TOWN OF FIRESTONE, COLORADO, KNOWN AS THE ST. VRAIN STATE PARK ANNEXATION NO. 1 TO THE TOWN OF FIRESTONE, AND FINDING THE AREA PROPOSED TO BE ANNEXED ELIGIBLE FOR ANNEXATION. WHEREAS, a petition for annexation of property described in Exhibit A attached hereto, to be known as the St. Vrain State Park Annexation No. 1 to the Town of Firestone, has been filed with the Board of Trustees of the Town of Firestone; and WHEREAS, pursuant to state law, the Town Board has held a hearing and desires to adopt by Resolution its findings in regard to the petition and eligibility for annexation. NOW, THEREFORE, BE IT RESOLVED BY THE TOWN BOARD OF THE TOWN OF FIRESTONE, COLORADO: Section I. The Town Board finds and concludes that: I. It is desirable and necessary that the territory described in Exhibit A attached hereto and incorporated herein be annexed to the Town of Firestone. 2. The requirements ofC.R.S. §§ 31-12-104 and 31-12-105, as amended, exist or have been met, including: a. Not less than one-sixth of the perimeter of the area proposed to be annexed is contiguous with the Town of Firestone. b. A community of interest exists between the area proposed to be annexed and the Town of Firestone. c. The area proposed to be annexed is urban or will be urbanized in the near future. d. The area proposed to be annexed is integrated with or is capable of being integrated with the Town of Firestone. e. No land within the boundary of the territory proposed to be annexed which is held in identical ownership, whether consisting of one tract or parcel of real estate or two or more contiguous tracts or parcels of real estate, has been divided into separate parts or parcels without the written consent of the 1 landowner or landowners thereof, unless such tracts or parcels were separated by a dedicated street, road, or other public way. f. No land within the boundary of the area proposed to be annexed which is held in identical ownership, whether consisting of one tract or parcel of real estate or two or more contiguous tracts or parcels of real estate, comprising twenty acres or more, and which, together with the buildings and improvements situated thereon, has an assessed value in excess of two hundred thousand dollars ($200,000.00) for ad valorem tax purposes for the year next preceding the annexation, has been included within the area proposed to be annexed without the written consent of the landowners. g. No annexation proceedings have been commenced for any portion of the territory proposed to be annexed for the annexation of such territory to another municipality. h. The annexation of the territory proposed to be annexed will not result in the detachment of area from any school district. 1. The annexation of the territory proposed to be annexed will not have the effect of extending the boundary of the Town of Firestone more than three miles in any direction from any point of the boundary of the Town of Firestone in any one year. J. The territory proposed to be annexed is comprised of 92.406 acres, more or less. k. The 2006 Master Plan adopted by the Board of Trustees of the Town of Firesotne shall serve as the plan for the area proposed to be annexed, in accordance with C.R.S. § 31-12-105(1)(e). I. Any portion of a platted street or alley to be annexed will result in the entire width of the street or alley having been included within and made a part of the Town of Firestone and reasonable access will not be denied to any landowners, owners of any easement, or the owners of any franchise adjoining any platted street or alley which is to be annexed to the Town of Firestone but is not bounded on both sides by the Town of Firestone. 3. Four copies of an annexation map of the area proposed to be annexed have been submitted to the Town Board and are on file with the Town. 2 4. Upon the annexation ordinance becoming effective, all land within the area proposed to be annexed will become subject to all ordinances, resolutions, rules, and regulations of the Town of Firestone, except that general property taxes of the Town of Firestone, if applicable, shall become effective as of the January I next ensuing. 5. No election for annexation of the area proposed to be annexed has been held in the preceding twelve months, and no election is required under C.R.S. § Section 31-12- 107(2) or-112. 6. No additional terms and conditions are to be imposed other than those set forth in the annexation petition or otherwise agreed to by all owners. 7. The landowners of one hundred percent ( 100%) of the areas proposed to be annexed signed the petition requesting annexation, in compliance with Article II, Section 30 of the Colorado Constitution and C.R.S. § Section 31-12-107(1). Section 2. The Town Board concludes that all statutory requirements have been met, that the proposed annexation is proper under the laws of the State of Colorado and the area proposed to be annexed is eligible for annexation to the Town. The Town Board, acting in its legislative capacity and pursuant to authority granted to it by state law, may adopt one or more ordinances annexing the subject property to the Town of Firestone. w, INTRODUCED, READ, and ADOPTED this )L day of ()cl-,; her , 2006. ~ 3 Michael P. Simone Mayor EXHIBIT A LEGAL DESCRIPTION ST. VRAINSTATEPARKANNEXATIONN0.1 A tract of land located in the SEl/4 of Section 3, T2N, R68W of the 6th P.M., County of Weld, State of Colorado, described as follows: COMMENCING at the El/4 Corner of said Section 3, from which the Southeast Corner of said Section 3 bears S00°29'13"W, 2668.40 feet (Basis of Bearing), thence S89°40'll''W, 234.90 feet along the North Line of the SEl/4 of said Section 3 to the Westerly Line of Parcel No. 12 Rev. 2 of Interstate Highway No. 25 conveyed to The Department of Highways, State of Colorado, as described in Special Warranty Deed recorded April 15, 1958, in Book 1500 at Page 553 of the records of Weld County, Colorado; Thence Southerly, 30.02 feet along the arc of a curve concave to the East and along the Westerly Line of said Parcel No. 12 Rev. 2 of Interstate Highway No. 25 [Project I 092-1 (l)] to the Southerly Right-of-way Line of Weld County Road No. 24.5 and the TRUE POINT OF BEGINNING, said arc having a radius of 11595.00 feet, a central angle of 0°08'54", and being subtended by a chord that bears S02°28'04''E, 30.02 feet; Thence continuing Southerly, 181.38 feet along the arc of said curve and along the Westerly Line of said Parcel No. 12 Rev. 2 of Interstate Highway No. 25, said arc having a radius of 11595.00 feet, a central angle of 0°53'47", and being subtended by a chord that bears S02°59'24''E, 181.38 feet; Thence S03°49'47"E, 1252.90 feet along the Westerly Line of said Parcel No. 12 Rev. 2 of Interstate Highway No. 25 to an angle point thereof; Thence S01°46'17"E, 169.47 feet along the Westerly Line of said Parcel No. 12 Rev. 2 of Interstate Highway No. 25 to the Northerly Line of that tract of land conveyed to James F. Holmes as described in Warranty Deed recorded April 26, 1972, in Book 666 as Reception No. 1588448 of the records of Weld County, Colorado; Thence N89°41'40''W, 573.20 feet along the Northerly Line of that tract of land as described in said Book 666 as Reception No. 1588448 to the Northwest Corner thereof, also being the Northeast Corner that tract of land conveyed to Saul Lissauer and Janice H. Lissauer as described in Warranty Deed recorded February 3, 1969, in Book 605 as Reception No. 1527013 of the records of Weld County, Colorado; 4 Thence N89°41'40"W, 585.70 feet along the Northerly Line of that tract of land as described in said Book 605 as Reception No. 1527013 to the Northwest Corner thereof; Thence S02°09'28"W, 376.24 feet along the Westerly Line and along the Westerly Line extend Southerly of that tract of land as described in said Book 605 as Reception No. 1527013 to the Northwest Corner of LONGMONT CENTENNIAL INN SUBDIVISION, a subdivision located in the SEl/4 of said Section 3, County of Weld, State of Colorado, according to the plat recorded as Reception No. 2119091 of the records of Weld County, Colorado; Thence S02°08' 09"W, 586. 59 feet along the Westerly Line of said LONGMONT CENTENNIAL INN SUBDIVISION to the Northerly Line of Parcel No. 38 of State Highway No. 119 [Project S-SU-0072(2)-SEC.2] conveyed to The Department of Highways, State of Colorado, as described in Special Warranty Deed recorded January 6, 1971, in Book 638 as Reception No. 1559975 of the records of Weld County, Colorado; Thence N89°46'03''W, 1059.96 feet along the Northerly Line of said Parcel No. 38 of State Highway No. 119 to the Westerly Line of RADEMACHER RECORDED EXCEPTION NO. 2534, a recorded exemption located in the SEl/4 of said Section 3, County of Weld, State of Colorado, according to the plat recorded as Reception No. 2733409 of the records of Weld County, Colorado; Thence N00"26'2l"E, 937.33 feet along the Westerly Line of said RADEMACHER RECORDED EXCEPTION NO. 2534 to an angle point thereof; Thence N84 ° 17' 24 "E, 240. 58 feet along the Westerly Line of said RADEMACHER RECORDED EXCEPTION NO. 2534 to an angle point thereof; Thence N05°37'24''E, 1588.60 feet along the Westerly Line of said RADEMACHER RECORDED EXCEPTION NO. 2534 to the Southerly Right-of- way Line of said Weld County Road No. 24.5; Thence N89°40'll''E, 1754.28 feet along the Southerly Right-of-way Line of said Weld County Road No. 24. 5 to the TRUE POINT OF BEGINNING. Area= 92.406 acres, more or less. 10/09/2006 12:31 PM{kkh] S:\FlfCSlOnc\Aanaatlon\S1VrainStllle:Puk I.res.doc 5 RESOLUTION NO. 06-L/ 'i A RESOLUTION CONCERNING A PETITION FOR THE ANNEXATION OF PROPERTY TO THE TOWN OF FIRESTONE, COLORADO, KNOWN AS THE ST. VRAIN STATE PARK ANNEXATION NO. 2 TO THE TOWN OF FIRESTONE, AND FINDING THE AREA PROPOSED TO BE ANNEXED ELIGIBLE FOR ANNEXATION. WHEREAS, a petition for annexation of property described in Exhibit A attached hereto, to be known as the St. Vrain State Park Annexation No. 2 to the Town of Firestone, has been filed with the Board of Trustees of the Town of Firestone; and WHEREAS, pursuant to state law, the Town Board has held a hearing and desires to adopt by Resolution its findings in regard to the petition and eligibility for annexation. NOW, THEREFORE, BE IT RESOLVED BY THE TOWN BOARD OF THE TOWN OF FIRESTONE, COLORADO: Section 1. The Town Board finds and concludes that: I. It is desirable and necessary that the territory described in Exhibit A attached hereto and incorporated herein be annexed to the Town of Firestone. 2. The requirements ofC.R.S. §§ 31-12-104 and 31-12-105, as amended, exist or have been met, including: a. Not less than one-sixth of the perimeter of the area proposed to be annexed is contiguous with the Town of Firestone. b. A community of interest exists between the area proposed to be annexed and the Town of Firestone. c. The area proposed to be annexed is urban or will be urbanized in the near future. d. The area proposed to be annexed is integrated with or is capable of being integrated with the Town of Firestone. e. No land within the boundary of the territory proposed to be annexed which is held in identical ownership, whether consisting of one tract or parcel of real estate or two or more contiguous tracts or parcels of real estate, has been divided into separate parts or parcels without the written consent of the 1 landowner or landowners thereof, unless such tracts or parcels were separated by a dedicated street, road, or other public way. f. No land within the boundary of the area proposed to be annexed which is held in identical ownership, whether consisting of one tract or parcel of real estate or two or more contiguous tracts or parcels of real estate, comprising twenty acres or more, and which, together with the buildings and improvements situated thereon, has an assessed value in excess of two hundred thousand dollars ($200,000.00) for ad valorem tax purposes for the year next preceding the annexation, has been included within the area proposed to be annexed without the written consent of the landowners. g. No annexation proceedings have been commenced for any portion of the territory proposed to be annexed for the annexation of such territory to another municipality. h. The annexation of the territory proposed to be annexed will not result in the detachment of area from any school district. 1. The annexation of the territory proposed to be annexed will not have the effect of extending the boundary of the Town of Firestone more than three miles in any direction from any point of the boundary of the Town of Firestone in any one year. J. The territory proposed to be annexed is comprised of 407.861 acres, more or less. k. The 2006 Master Plan adopted by the Board of Trustees of the Town of Firesotne shall serve as the plan for the area proposed to be annexed, in accordance with C.R.S. § 31-12-IOS(l)(e). I. Any portion of a platted street or alley to be annexed will result in the entire width of the street or alley having been included within and made a part of the Town of Firestone and reasonable access will not be denied to any landowners, owners of any easement, or the owners of any franchise adjoining any platted street or alley which is to be annexed to the Town of Firestone but is not bounded on both sides by the Town of Firestone. 3. Four copies of an annexation map of the area proposed to be annexed have been submitted to the Town Board and are on file with the Town. 2 4. Upon the annexation ordinance becoming effective, all land within the area proposed to be annexed will become subject to all ordinances, resolutions, rules, and regulations of the Town of Firestone, except that general property taxes of the Town of Firestone, if applicable, shall become effective as of the January I next ensuing. 5. No election for annexation of the area proposed to be annexed has been held in the preceding twelve months, and no election is required under C.R.S. § Section 31-12- 107(2) or -112. 6. No additional terms and conditions are to be imposed other than those set forth in the annexation petition or otherwise agreed to by all owners. 7. The landowners of one hundred percent (100%) of the areas proposed to be annexed signed the petition requesting annexation, in compliance with Article II, Section 30 of the Colorado Constitution and C.R.S. § Section 31-12-107(1). Section 2. The Town Board concludes that all statutory requirements have been-met, that the proposed annexation is proper under the laws of the State of Colorado and the area proposed to be annexed is eligible for annexation to the Town. The Town Board, acting in its legislative capacity and pursuant to authority granted to it by state law, may adopt one or more ordinances annexing the subject property to the Town of Firestone. INTRODUCED, READ, and ADOPTED this /)'f',day of odvlur , 2006. Mayor 3 EXIIlBITA LEGAL DESCRIPTION ST. VRAIN ST ATE PARK ANNEXATION NO. 2 A tract of land located in Section 3 and in the El/2 of Section 4, T2N, R68W of the 6th P.M., County of Weld, State of Colorado, described as follows: COMMENCING at the El/4 Corner of said Section 3, from which the Southeast Corner of said Section 3 bears S00°29'13''W, 2668.40 feet (Basis of Bearing), thence S89°40'11"W, 234.90 feet along the North Line of the SEl/4 of said Section 3 to the Westerly Line of Parcel No. 12 Rev. 2 of Interstate Highway No. 25 [Project I 092-1 (1)] conveyed to The Department of Highways, State of Colorado, as described in Special Warranty Deed recorded April 15, 1958, in Book 1500 at Page 553 of the records of Weld County, Colorado, and the TRUE POINT OF BEGINNING; Thence Southerly, 30.02 feet along the arc of a curve concave to the East and along the Westerly Line of said Parcel No. 12 Rev. 2 of Interstate Highway No. 25 to the Southerly Right-of-way Line of Weld County Road No. 24.5, said arc having a radius of 11595.00 feet, a central angle of 0°08'54", and being subtended by a chord that bears S02°28'04''E, 30.02 feet; Thence S89°40'11"W, 1754.28 feet along the Southerly Right-of-way Line of Weld County Road No. 24.5 to the Westerly Line of RADEMACHER RECORDED EXCEPTION NO. 2534, a recorded exemption located in the SEl/4 of said Section 3, County of Weld, State of Colorado, according to the plat recorded as Reception No. 2733409 of the records of Weld County, Colorado; Thence S05°37'24''W, 1588.60 feet along the Westerly Line of said RADEMACHER RECORDED EXCEPTION NO. 2534 to an angle point thereof; Thence S84°17'24"W, 240.58 feet along the Westerly Line of said RADEMACHER RECORDED EXCEPTION NO. 2534 to an angle point thereof; Thence S00°26'21"W, 937.33 feet along the Westerly Line of said RADEMACHER RECORDED EXCEPTION NO. 2534 to the Northerly Line of Parcel No. 38 of State Highway No. 119 [Project S-SU-0072(2)-SEC.2] conveyed to The Department of Highways, State of Colorado, as described in Special Warranty Deed recorded January 6, 1971, in Book 638 as Reception No. 1559975 of the records of Weld County, Colorado; 4 Thence N89°46'03"W, 385.18 feet along the Northerly Line of said Parcel No. 38 of State Highway No. 119 to an angle point thereof; Thence N75°58'33''W, 105.70 feet along the Northerly Line of said Parcel No. 38 of State Highway No. 119 to an angle point thereof; Thence N89°33'03"W, 1642.70 feet along the Northerly Line of said Parcel No. 38 of State Highway No. 119 to the Easterly Line of that tract of land conveyed to Elmer Moore and Clara Moore as described in Warranty Deed recorded June 22, 1972, in Book 670 as Reception No. 1592181 of the records of Weld County, Colorado; Thence N00°47 '14"E, 406.18 feet along the Easterly Line of that tract of land as described in said Book 670 as Reception No. 1592181 to the Northeast Corner thereof; Thence N89°32'46"W, 355.00 feet along the Northerly Line of that tract of land as described in said Book 670 as Reception No. 1592181 to the Northwest Corner thereof, also being the Northeast Corner of that tract of land conveyed to Distribution Holdings, Inc. as described in Warranty Deed recorded June 9, 1969, in Book 610 as Reception No. 15324 69 of the records of Weld County, Colorado; Thence N89°32'46''W, 405.00 feet along the Northerly Line of that tract of land as described in said Book 610 as Reception No. 1532469 to the Easterly Right-of-way Line of Weld County Road No. 7; Thence S00°47'14"W, 356.25 feet along said Easterly Right-of-way Line of Weld County Road No. 7 to the Northerly Line of said Parcel No. 38 of State Highway No. 119; Thence N89°33' 03"W, 30. 00 feet along the Northerly Line of said Parcel No. 38 of State Highway No. 119 to the West Line of the SWl/4 of said Section 3, also being a point along the Northerly Line of Parcel No. 33 of State Highway No. 119 [Project S-SU- 0072(2)-SEC.2] conveyed to The Department of Highways, State of Colorado, as described in Special Warranty Deed recorded April 3, 1970, in Book 623 as Reception No. 1544823 of the records of Weld County, Colorado; Thence N89°28'52''W, 30.00 feet along the Northerly Line of said Parcel No. 33 of State Highway No. 119 to the Westerly Right-of-way Line of said Weld County Road No. 7; Thence N00°47'14''E, 2457.33 feet along the Westerly Right-of-way 5 Line of said Weld County Road No. 7 to the North Line of the SEl/4 of said Section 4; Thence N00°26'53''E, 2567.48 feet along the Westerly Right-of-way Line of said Weld County Road No. 7 to the Southerly Right-of-way Line of Weld County Road No. 26; Thence N89° 33' 07 "E, 30. 00 feet along the Southerly Right-of-way Line of said Weld County Road No. 26 to the West Line of the NWl/4 of said Section 3; Thence S89°33' 30"E, 30. 00 feet along the Southerly Right-of-way Line of said Weld County Road No. 26 to the Easterly Right-of-way Line of said Weld County Road No. 7; Thence S00°26'53"W, 30.80 feet along the Easterly Right-of-way Line of said Weld County Road No. 7 to the Northerly Line of that tract of land conveyed to State of Colorado as described in Warranty Deed recorded May 14, 2004, as Reception No. 3180239 of the records of Weld County, Colorado; Thence S66°10'0l"E, 189.54 feet along the Northerly Line of that tract of land as described as said Reception No. 3180239 to an angle point thereof; Thence S03°35'13"E, 232.66 feet along the Northerly Line of that tract of land as described as said Reception No. 3180239 to an angle point thereof; Thence S85°07'19''E, 244.69 feet along the Northerly Line of that tract of land as described as said Reception No. 3180239 to a Northeasterly Corner thereof, also being the Northwesterly Corner of that tract of land conveyed to State of Colorado as described in Warranty Deed recorded May 14, 2004, as Reception No. 3180238 of the records of Weld County, Colorado; The following courses and distances are along the Northerly Line of that tract of land as described as said Reception No. 3180238: Thence S85°07'19"E, 67.05 feet; Thence S49°30'20''E, 332.51 feet; Thence S05°40'35"E, 489.21 feet; Thence S87°38'47''E, 444.29 feet; Thence S80°50'20"E, 338.03 feet; 6 Thence N71°32'07''E, 267.23 feet; Thence N61°05'07"E, 239.25 feet; Thence N40°32'44''E, 884.75 feet to the East Line of the NWl/4 of said Section 3; Thence leaving the Northerly Line of that tract of land as described as said Reception No. 3180238, S00°57'02"W, 443.31 feet along the East Line of the NWl/4 of said Section 3 to the Northerly Line of that tract of land conveyed to The State of Colorado as described in Quit Claim Deed recorded April 25, 2002, as Reception No. 2945897 of the records of Weld County, Colorado; Thence N23°35'13"E, 53.22 feet along the Northerly Line of that tract of land as described as said Reception No. 2945897 to an angle point thereof, also being an angle point of that tract of land conveyed to State of Colorado as described in Warranty Deed recorded October 7, 1991, as Reception No. 2265474 of the records of Weld County, Colorado; Thence N73°24'40"E, 1383.42 feet along the Northerly Line of that tract of land as described as said Reception No. 2265474 to an angle point thereof; Thence N50°27'13"E, 440.00 feet along the Northerly Line of that tract of land as described as said Reception No. 2265474 to an angle point thereof; Thence S89°51'47"E, 568.77 feet along the Northerly Line of that tract of land as described as said Reception No. 2265474 to the Westerly Line of Parcel No. 3 of Interstate Highway No. 25 [Project NH-IRCX 025-3(109)] conveyed to Department of Transportation, State of Colorado, as described in Warranty Deed recorded May 21, 1999, as Reception No. 2695322 of the records of Weld County, Colorado; Thence S00 O 25' 26"W, 7. 50 feet along the Westerly Line of said Parcel No. 3 of Interstate Highway No. 25 to the Southwest Corner thereof; Thence S89°50'54"E, 131.24 feet along the Southerly Line of said Parcel No. 3 of Interstate Highway No. 25 to the Westerly Line of Parcel No. 10 Rev. of Interstate Highway No. 25 [Project I 092-1 (1)] conveyed to The Department of Highways, State of Colorado, as described in Special Warranty Deed recorded April 2, 1958, in Book 1499 at Page 596 of the records of Weld County, Colorado; 7 Thence S00 O 22' 4 3"W, 67. 4 7 feet along the Westerly Line of said Parcel No. 10 Rev. of Interstate Highway No. 25 to the Northerly Line of that tract of land as described as said Reception No. 2945897; Thence continuing S00°22'43"W, 1913.60 feet along the Westerly Line of said Parcel No. 10 Rev. of Interstate Highway No. 25 to a point of curve to the left thereof; Thence Southerly, 561.00 feet along the arc of said curve and along the Westerly Line of said Parcel No. 10 Rev. of Interstate Highway No. 25 to the TRUE POINT OF BEGINNING, said arc having a radius of 11595.00 feet, a central angle of 2°46'20", and being subtended by a chord that bears S01°00'27"E, 560.95 feet. EXCEPT a tract of land located in the SWl/4 of Section 3 T2N, R68W of the 6th P.M., County of Weld, State of Colorado, described as follows: COMMENCING at the El/4 Corner of said Section 3, from which the Southeast Corner of said Section 3 bears S00°29'13''W, 2668.40 feet (Basis of Bearing), thence S89°40'11"W, 2648.64 feet along the North Line of the SEl/4 of said Section 3 to the Cl/4 Corner of said Section 3; Thence S89°41'06"W, 2143.59 feet along the North Line of the SWl/4 of said Section 3 to the Easterly Line of that tract of land conveyed to Willard Guill as described in Warranty Deed recorded May 14, 1969, in Book 609 as Reception No. 1531360 of the records of Weld County, Colorado; Thence S00°47'14"W, 30.01 feet along the Easterly Line of that tract as described in said Book 609 as Reception No. 1531360 to the Southerly Right-of-way Line of Weld County Road No. 24.5 and the TRUE POINT OF BEGINNING; Thence continuing S00°47'14''W, 450.08 feet along the Easterly Line of that tract as described in said Book 609 as Reception No. 1531360 to the Southeast Corner thereof; Thence S89°41'06''W, 453.83 feet along the Southerly Line of that tract as described in said Book 609 as Reception No. 1531360 to the Easterly Right-of-way Line of Weld County Road No. 7; Thence N00 O 4 7' 14 "E, 4 50. 08 feet along the Easterly Right-of-way Line of said Weld County Road No. 7 to the Southerly Right-of-way Line of said Weld County Road No. 24.5; Thence N89°41'06"E, 453.83 feet along the Southerly Right-of-way Line of said Weld County Road No. 24. 5 to the TRUE POINT OF BEGINNING. 8 Total Area= 407.861 acres, more or less. 10/09/2006 12:JS PM [kkhl S:\Fuestonc\Anncxation\S1Vrain.5wcPm\ 1.res.doc 9 RESOLUTION NO. 06-L/5 A RESOLUTION CONCERNING A PETITION FOR THE ANNEXATION OF PROPERTY TO THE TOWN OF FIRESTONE, COLORADO, KNOWN AS THE ST. VRAIN STATE PARK ANNEXATION NO. 3 TO THE TOWN OF FIRESTONE, AND FINDING THE AREA PROPOSED TO BE ANNEXED ELIGIBLE FOR ANNEXATION. _) WHEREAS, a petition for annexation of property described in Exhibit A attached hereto, to be known as the St. Vrain State Park Annexation No. 3 to the Town of Firestone, has been filed with the Board of Trustees of the Town of Firestone; and WHEREAS, pursuantto state law, the Town Board has held a hearing and desires to adopt by Resolution its findings in regard to the petition and eligibility for annexation. NOW, THEREFORE, BE IT RESOLVED BY THE TOWN BOARD OF THE TOWN OF FIRESTONE, COLORADO: Section I. The Town Board finds and concludes that: I. It is desirable and necessary that the territory described in Exhibit A attached hereto and incorporated herein be annexed to the Town of Firestone. 2. The requirements ofC.R.S. §§ 31-12-104 and 31-12-105, as amended, exist or have been met, including: a Not less than one-sixth of the perimeter of the area proposed to be annexed is contiguous with the Town of Firestone. b. A community of interest exists between the area proposed to be annexed and the Town of Firestone. c. The area proposed to be annexed is urban or will be urbanized in the near future. d. The area proposed to be annexed is integrated with or is capable of being integrated with the Town of Firestone. e. No land within the boundary of the territory proposed to be annexed which is held in identical ownership, whether consisting of one tract or parcel of real estate or two or more contiguous tracts or parcels of real estate, has been divided into separate parts or parcels without the written consent of the I landowner or landowners thereof, unless such tracts or parcels were separated by a dedicated street, road, or other public way. f. No land within the boundary of the area proposed to be annexed which is held in identical ownership, whether consisting of one tract or parcel of real estate or two or more contiguous tracts or parcels of real estate, comprising twenty acres or more, and which, together with the buildings and improvements situated thereon, has an assessed value in excess of two hundred thousand dollars ($200,000.00) for ad valorem tax purposes for the year next preceding the annexation, has been included within the area proposed to be annexed without the written consent of the landowners. g. No annexation proceedings have been commenced for any portion of the territory proposed to be annexed for the annexation of such territory to another municipality. h. The annexation of the territory proposed to be annexed will not result in the detachment of area from any school district. 1. The annexation of the territory proposed to be annexed will not have the effect of extending the boundary of the Town of Firestone more than three miles in any direction from any point of the boundary of the Town of Firestone in any one year. J. The territory proposed to be annexed is comprised of 114.374 acres, more or less. k. The 2006 Master Plan adopted by the Board of Trustees of the Town of Firesotne shall serve as the plan for the area proposed to be annexed, in accordance with C.R.S. § 31-12-l0S(l)(e). I. Any portion of a platted street or alley to be annexed will result in the entire width of the street or alley having been included within and made a part of the Town of Firestone and reasonable access will not be denied to any landowners, owners of any easement, or the owners of any franchise adjoining any platted street or alley which is to be annexed to the Town of Firestone but is not bounded on both sides by the Town of Firestone. 3. Four copies ofan annexation map of the area proposed to be annexed have been submitted to the Town Board and are on file with the Town. 2 4. Upon the annexation ordinance becoming effective, all land within the area proposed to be annexed will become subject to all ordinances, resolutions, rules, and regulations of the Town of Firestone, except that general property taxes of the Town of Firestone, if applicable, shall become effective as of the January I next ensuing. 5. No election for annexation of the area proposed to be annexed has been held in the preceding twelve months, and no election is required under C.R.S. § Section 31-12- 107(2) or -112. 6. No additional terms and conditions are to be imposed other than those set forth in the annexation petition or otherwise agreed to by all owners. 7. The landowners of one hundred percent (100%) of the areas proposed to be annexed signed the petition requesting annexation, in compliance with Article II, Section 30 of the Colorado Constitution and C.R.S. § Section 31-12-107(1). Section 2. The Town Board concludes that all statutory requirements have been met, that the proposed annexation is proper under the laws of the State of Colorado and the area proposed to be annexed is eligible for annexation to the Town. The Town Board, acting in its legislative capacity and pursuant to authority granted to it by state law, may adopt one or more ordinances annexing the subject property to the Town of Firestone. INTRODUCED, READ, and ADOPTED this /)""' day of O d-nht-r , 2006. Mayor 3 EXHIBIT A LEGAL DESCRIPTION ST. VRAIN STATE PARK ANNEXATION NO. 3 A tract of land located in the SEl/4 of Section 4, T2N, R68W of the 6th P.M., County of Weld, State of Colorado, described as follows: COMMENCING at the Southeast Corner of said Section 4, from which the Sl/4 Corner of said Section 4 bears S88°50'38"W, 2658.84 feet (Basis of Bearing), thence N00°47'14"E, 168.60 feet along the East Line of the SEl/4 of said Section 4 to the Northerly Line of Parcel No. 33 of State Highway No. 119 [Project S-SU-0072(2)-SEC.2] conveyed to The Department of Highways, State of Colorado, as described in Special Warranty Deed recorded April 3, 1970, in Book 623 as Reception No. 1544823 of the records of Weld County, Colorado; Thence N89°28'52"W, 30.00 feet along the Northerly Line of said Parcel No. 33 of State Highway No. 119 to an angle point thereof, also being the Westerly Right-of-way Line of Weld County Road No. 7 and the TRUE POINT OF BEGINNING; Thence S45°4l' 08"W, 71. 30 feet along the Northerly Line of said Parcel No. 33 of State Highway No. 119 to a point of non-tangent curve thereof; Thence Westerly, 538.81 feet along the arc of a curve concave to the South and along the Northerly Line of said Parcel No. 33 of State Highway No. 119 to a point tangent, said arc having a radius of 23020.00 feet, a central angle of 1"20'28", and being subtended by a chord that bears S89°34'22"W, 538.80 feet; Thence S88°54'08"W, 1984.80 feet along the Northerly Line of said Parcel No. 33 of State Highway No. 119 to the Westerly Line of that tract of land conveyed to State of Colorado as described in Correction Deed recorded November 21, 2003, as Reception No. 3128803 of the records of Weld County, Colorado; The following courses and distances are along the Westerly Line of that tract of land as described as said Reception No. 3128803: Thence Nl8°08'32"E, 297.38 feet; Thence N30°37'40"E, 193.21 feet; Thence N49°50'16''E, 109.42 feet; 4 T_hence N36°48'15"E, 176.24 feet; Thence N38°43'44"E, 185.84 feet; Thence N47°51'28"E, 152.70 feet; Thence N55°04'40"E, 167.31 feet; Thence N58°22'24"E, 172.27 feet; Thence N45°32'06"E, 131. 90 feet; Thence N28°51'50"E, 131.65 feet; Thence N00°28'38"E, 105.20 feet; Thence Nll 0 43'46"W, 157.42 feet; Thence N41°57'17"W, 322.43 feet; Thence N32°21'13"W, 123.02 feet; Thence N25°42'0l"W, 87.95 feet; Thence Nl9°14'42"W, 327.25 feet; Thence Nl6°07'll"W, 135.18 feet; Thence N07°00'48"E, 104.30 feet to the North Line of the SEl/4 of said Section 4; Thence leaving the Westerly Line of that tract of land as described as said Reception No. 3128803, N89°22'00"E, 2040.16 feet along the North Line of the SEl/4 of said Section 4 to the Westerly Right-of- way Line of said Weld County Road No. 7; Thence S00°47'14"W, 2457.33 feet along the Westerly Right-of-way Line of said Weld County Road No. 7 and the TRUE POINT OF BEGINNING. Area= 114.374 acres, more or less. 10/091Z006 12:44 PM [kkh] S:\F"tl'C$1onc\Anncwion\StVrainSwcParlc ).res.doc 5 TOWN OF FIRESTONE, COUNTY OF WELD, STATE OF COLORADO IN RE THE ORGANIZATION OF THE SPRINGS SOUTH METROPOLITAN DISTRICT, IN THE TOWN OF FIRESTONE, COUNTY OF WELD, STATE OF COLORADO RESOLUTION NO. 06-'f(,, RESOLUTION OF APPROVAL WHEREAS, pursuant to the provisions of Title 32, Article I, Part 2, C.R.S. as amended, the Board of Trustees of the Town of Firestone, County of Weld, State of Colorado, following due notice, held a public hearing on the proposed Service Plan for The Springs South Metropolitan District on the 26th day of October, 2006; and WHEREAS, the Board of Trustees has considered the 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 Service Plan for The Springs South Metropolitan District should be approved by the Board of Trustees, subject to certain conditions set forth below, in accordance with Section 32-1- 204.5(1 )(c), C.R.S. THEREFORE, BE IT RESOLVED BY THE BOARD OF TRUSTEES OF THE TOWN OF FIRESTONE, COLORADO: Section I. 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 Prominence Partners I, LLC, a Colorado limited liability company (the "Developer"), that all of the requirements of Title 32, Article I, Part 2, C.R.S., as amended, relating to the filing of a Service Plan for the proposed The Springs South 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 Developer, the Board of Trustees of the Town of Firestone, Colorado, has jurisdiction over the subject matter of this proposed special district pursuant to Title 32, Article I, part 2, C.R.S., as amended. Section 3. That, pursuant to Section 32-1-204.5, 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 and other evidence presented by and on behalf of the Developer, that: (a) There is sufficient existing and projected need for organized service in the area to be serviced by the proposed District; (b) The existing service in the area to be served by the proposed District is inadequate for present and projected needs; ( c) The proposed special district is capable of providing economical and sufficient service to the area within its proposed boundaries; (d) The area to be included in the proposed District has, or will have, the financial ability to discharge the proposed indebtedness on a reasonable basis; and (e) The creation of the proposed District will be in the best interests of the area proposed to be served. Section 4. That pursuant to Section 32-1-204.S(l)(c), C.R.S., the Board of Trustees hereby imposes the following conditions upon its approval of the Service Plan: (a) The Developer agrees that the Town Attorney will be given reasonable notice of all proceedings in the District Court of Weld County relating to the organization of the District (including notice as described in Section 32-1-304, C.R.S.). (b) The Developer agrees that, prior to the hearing date set by the District Cou11 of Weld County pursuant to Section 32-1-304, C.R.S., all fees and expenses which have been submitted to the Developer for payment by or on behalf of the Town or its attorneys or financial or other advisors shall have been paid in full. (c) Prior to the hearing date set by the District Court of Weld County pursuant to Section 32-1-304, C.R.S., the District shall fully comply with the provisions of Section 32-1-107(3), C.R.S. with respect to the overlapping of service areas. The District's authorization to provide services or facilities within any overlapping area is expressly conditioned upon the District first obtaining the written consent of each and every district whose service area is so overlapped. (d) Prior to the Mayor's execution of this Resolution, the fully and properly executed originals of the service plan certification page; property owners' consents; engineer's statement of reasonableness of capital costs; accountant's letter and forecasts; letters in support of market projections and absorption rates; underwriter's letters; legal counsel letter; bond counsel letter, and Developer's indemnity letter that are required under the Service Plan and set fo1th as the last page of the service plan text and in Exhibits D, E, G, H, I, J, and Part I of Exhibit K, shall be provided to the Town. (e) At its organizational meeting, the District shall execute the District indemnity letter and intergovernmental agreement with the Town that are required under the Service Plan and set forth in Part 2 of Exhibit Kand Exhibit N thereto, and shall provide the fully executed originals of such documents to the Town. If any of the above-stated conditions (a) through (d) are not met, the Town may file a motion with the District Court of Weld County requesting that the hearing on the organization of the District be delayed until such conditions are met, and Developer has represented that it will not oppose such motion. Further, if any of the above-stated conditions (a) through (e) are not met, the Town may pursue all legal and equitable remedies available to it for failure of compliance with such conditions of approval. Section 5. That the Service Plan of the proposed The Springs South Metropolitan District, as set forth in Exhibit A to this Resolution and dated October 26, 2006, 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., and subject to the revisions set forth in Exhibit B. Section 6. That a certified copy of this Resolution be filed in the records of the Town of Firestone and submitted to the Developer for the purpose of filing in the District Court of Weld County for further proceedings concerning the District. . S-IA RESOL YEO, ADOPTED AND APPROVED thisz.L._ day of Q c-h. her 2006. (SE AL) ATTEST: 1chael P. Simone Mayor 1 , COLORADO ~ CERTIFICATE I, Judy Hegwood, do hereby certify that the above and foregoing is a true, correct and complete copy of a resolution adopted by the Board of Trustees of the Town of Firestone, Colorado, at a public meeting held on the 26 th day of October, 2006. IN WITNESS Wrl);:REOF, I have heh1to set my hand and the seal of the Town of Firestone, Colorado, this 2 b"l!ay of O cfo r 2006. EXHIBIT A (Copy of Service Plan) EXHIBIT B REVISIONS TO THE SPRINGS SOUTH METRO POLIT AN DISTRICT SERVICE PLAN (Firestone Board of Trustees Meeting, October 26, 2006) I. Cover page, revision date, change "26." to 26,". 2. Table of Exhibits, change Exhibit G caption to read as follows: "Financial Plan; Forecasted Statement of Sources and Uses of Cash (with related schedules); Market Projection Consultant's Analysis; Developer's Letter in Support of Market Projections"; conform Exhibit G title page. 3. Page 12, line 5, insert space between "120" and "days". 4. Page 16, starting on line I, sentence beginning "The Accountant's forecasted statements of sources and uses ... ": delete entire sentence. 5. Page 18, line 7, change "each series of bonds" to "the bonds". 6. Page 18, line 9, change "each series of bonds" to "the bonds". 7. Page I 8, line 14, change "Bonds" to "bonds". 8. Page 22, line I 0, insert space between "50" and "mills". 9. Page 32, line 8 (item e): change "bond" to "bonds". 10. Page 35, line I 5, change "buildout" to "build-out". 11. Exhibit E: On Table of Exhibits, conform Exhibit E caption to conform to Exhibit E cover page ("Engineer's Estimate of Costs and Certification"). 12. Exhibit L: First page, 7'11 line under "District Purpose," change "Association" to "association". On Table of Exhibits, conform Exhibit L caption to Exhibit L cover page ("Form of District Disclosure Notice"). I 3. Exhibit M: Second line of third paragraph, insert "other" before "financial obligations". 14. Exhibit N: First line on second page (Section 2), insert "Article IV.a and" before "Article V.c". I 5. Exhibit N, beginning on second page (Section 6): Replace third sentence of section (beginning with "Such allocations will be used ... ") with the following text: "Such allocations will be used by the Town to finance public improvements in addition to those described in Exhibits E and F to the Service Plan. Such public improvements may be inside or outside the boundaries of the District and shall be within the types of public improvements 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 and safety controls, water, landscaping, storm sewers and flood and surface drainage, or park and recreation improvements and facilities). Such improvements shall be of benefit to the Town and the District and shall be specifically identified in an amendment to this Agreement which amendment shall be fully executed before the District incurs any financial obligations of any kind." 16. Exhibit N: Third page, Section 9, 4th line of section, delete "(3)"; 7'h line of section, delete "(I)". 17. Exhibit N: Fourth page, Section 12, 'last line, delete "and without amendment to the Service Plan." 18. Exhibit N: Fourth page, Section 17, last line, change "Parties" to "Party". 19. Exhibit 0: On Table of Exhibits, conform Exhibit O caption to conform to Exhibit 0 title page ("Resolution of Board of Trustees Approving Service Plan"). THE SPRINGS S,OUTH METROP·OLITAN DISTRICT SERVICE PLAN TOWN OF FIRESTONE, COLORADO REVISED OCTOBER 26. 2006 Prepared By WHITE, BEAR & ANKELE Professional Corporation 1805 Shea Center Drive, Suite l 00 Highlands, Ranch, Colorado 80129 TABLE OF CONTENTS I. Introduction................................................................................... 1 II. Purpose of the Proposed District ............................................................ 4 III. Boundaries, Population & Valuation ....................................................... 5 IV. Description of Proposed Facilities ........................................................... 7 a. Type of Improvements ............................................................... 7 b. Description of Existing Conditions ................................................ 9 c. Anticipated Development.. ......................................................... 9 d. Public Improvement Schedule ...................................................... 9 e. Town Construction Standards ...................................................... 9 f. Limitation on Eminent Domain ........................................... • ......... 10 g. Dedication of Improvements to the Town ........................................ 10 h. Ownership and Operation of Facilities by the District. ......................... 12 i. Acquisition of Land for Public Improvements ................................... 12 J. Services to be Provided by other Governmental Entities ....................... 13 k. Integration ........................ · ..................................................... 14 V. Financial Plan ................................................................................. 14 a. General ................................................................................. 15 b. Debt Issuance ......................................................................... 16 c. Required Transfers of Bond Proceeds to Town ............ : ..................... 18 d. Other Financial Restrictions, Limitations and Requirements .................. 19 e. Limited Mill Levy .................................................................... 22 f. Investor Suitability .......... : ........................................................ 23 g. Refunding Bonds ..................................................................... 23 h. Construction Financing Notes Issued to Developer ............................. 24 i. Identification of District Revenue .................................................. 25 j. No Town Financial Obligations or Town Security .............................. 25 k. District Operating Expenses....................................................... 26 I. Quinquennial Review ................................................................ 26 m. Letters ................................................................................. 26 VI. Landowners' Obligations as to Public Improvements................................. 27 VII. Annual Report ................................................................................. 28 VIII. Dissolution ...................................................................................... 29 IX. Consolidation .................................................................................. 31 X. Elections ....................................................................................... 31 XI. Indemnities ..................................................................................... 33 XII. Disclosure and Disclaimer; No Third-Party Rights ...................................... 33 XIII. Intergovernmental Agreements ............................................................. 34 XIV. Conservation Trust Fund ..................................................................... 35 XV. Modification of Service Plan ................................................................ 35 XVI. Failure to Comply with Service Plan ....................................................... 37 XVII. Resolution of Approval .......................................................... : ............ 38 XVIII. Severability .................................................................................... 38 XIX. Certification ............................................................................................................... 39 i TABLE OF EXHIBITS Exhibit A ExhibitB Exhibit C ExhibitD Exhibit E · Exhibit F Exhibit G Exhibit H Exhibit I Exhibit J Exhibit K Exhibit L ExhibitM ExhibitN Exhibit 0 Legal Description Boundary Map Vicinity Map Property Owner's Consent Engineering Estimates and Certificate of Probable Costs Location of Public Improvements · Financing Plan; Forecasted Cash Surplus Balances and Cash Receipts and Disbursements; Market Projection Consultant's Analysis; Developer's Letter in Support of Market Projections Underwriter's Letters Legal Counsel Letter Bond Counsel Letter Part I -Developer Indemnity Letter Part II -District Indemnity Letter Form of Disclosure Notice Form of Town Disclaimer Statement Form of Intergovernmental Agreement between District and Town Resolution of Town of Firestone Approving Service Plan 11 THE SPRINGS SOUTH METROPOLITAN DISTRICT SERVICE PLAN I. INTRODUCTION The Distric_t shall be named The Springs South Metropolitan District (the "District"). The purpose of the District is to finance certain streets, traffic safety controls, street lighting, water, landscaping, storm sewers and flood and surface drainage and park and recreation improvements for the development to be known as the Vogl South planned unit develo~ment (the "Vogl South development"); · The developer of the Vogl South development and the petitioner for the formation of the District is Prominence Partners I, LLC, a Colorado limited liability company ("Prominence") (Prominence and any successor developer of the Vogl South development shall be referred to herein as the "Developer"). The District is intended to provide for the financing of public improvements for the Vogl South development, but is not intended to be a District _with perpetual existence. The District will consist of approximately 115 acres and no changes in the District's boundaries are anticipated or authorized. The District shall be dissolved when its financial obligations are paid or provided for or when the Town of Firestone, Colorado (the "Town") requests dissolution, provided then-applicable statutory requirements are met, all as further described in this Service Plan, together with all exhibits hereto (the "Service Plan"). All public improvements and facilities that are financed, constructed, installed or acquired by the District shall be dedicated and conveyed to the Town or its designee and will be operated and maintained by the Town or its designee upon Town acceptance and completion of the District's warranty obligations. The Town may require that landscaping improvements dedicated and conveyed to the Town be maintained by an owners' association formed for the 1 Vogl South development, for the use and benefit of residents, taxpayers and property owners. The District shall not provide fire protection or emergency services, which fire protection and emergency services shall be provided by the Frederick-Firestone Fire Protection District, either directly or, with respect to emergency services, through contract. The District may exercise the statutory powers of a metropolitan district only to implement the provisions of this Sf?rvice Plan and only to the extent expressly authorized by and in a manner consistent with this Service Plan. All functions, activities, improvements, services and programs of the District are limited to those expressly authorized in this Service Plan, notwithstanding any different, additional or expanded powers or authority that may be granted to the District by any present or future statutory or regulatory provisions. The District is generally located south of Fh:estone Boulevard and east of Frontier Street. The proposed boundaries of the District are limited to those boundaries described in Exhibit A, attached hereto. This Service Plan has been prepared by the following Developer and participating consultants (the "Organizers"): Developer Prominence Partners I, LLC a Colorado limited liability company Daniel S. Smith Post Office Box 870 Firestone, Colorado 80520 (303) 833-5322 (303) 833-5748-facsimile dan@prominencedevelopment.com 2 District Counsel White, Bear & Ankele Professional Corporation Jennifer L. Gruber, Esq. 1805 Shea Center Drive, Suite 100 Highlands Ranch, Colorado 80129 (303) 858-1800 (303) 858-1801-facsimile jgruber@wbapc.com Financial Advisor D.A. Davidson & Co. Thomas R. Bishop 1600 Broadway, Suite 1100 Denver, Colorado 80202 (303) 764-5737 (303) 764-5770--facsimile tbishop@dadco.com Bond Counsel Sherman & Howard Blake T. Jordan, Esq. 633 17 th Street, Suite 3000 Denver, Colorado 80202 (303) 299-8364 (303) 298-0940--facsimile bjordan@sah.com Market Projection Consultant ORM Real Estate Advisors, LLC Derek R. Maunsell, MAI 4025 Automation Way, Unit F4 Ft. Collins, Colorado 80525 (970) 267-2900 (970) 530-0799-facsimile derekmaunsell@drrnrealestate.com Engineer JoelSeamons,P.E. Park Engineering Consultants 420 21 51 Avenue, Suite 101 Longmont, Colorado 8050 I (303) 651-6626 (303) 651-0331-facsimile joel@parkengineering.net Accountant J.W. Simmons & Associates, P.C. John Simmons 9155 East Nichols Avenue, Suite 330 Englewood, Colorado 80112 (303) 689-0833 (303) 689-0834-facsimile john@jwsimmons.com Pursuant to the requirements of the Special District Control Act, § 32-1-20 I, et seq., C.R.S., this Service Plan consists of a financial analysis and an engineering plan showing how the proposed facilities and services of the District will be provided and financed. As required by § 31-1-202(2), C.R.S., the following items are included in this Service Plan: a. A description of the proposed services; b. A financial plan showing how the proposed services are to be financed, including all elements required by§ 32-1-202(2)(b), C.R.S.; 3 c. A preliminary engineering or architectural survey showing how the proposed services are to be provided; d. A map of the proposed District's boundaries and an estimate of the population and valuation for assessment of the proposed District; e. A general description· of the facilities to be constructed and the standards for construction, including a statement of how the facility and service standards of the proposed District are compatible with facility and service standards of the Town and special districts which are interested.parties pursuant to§ 32-1-204(1), C.R.S.; f. A general description of the estimated cost of acquiring land, engineering services, legal services, administrative services, initial proposed indebtedness and estimated proposed maximum interest rates and discounts and other major expenses related to the organization and initial operation of the District; and g. A description of any arrangement or proposed agreement with any political subdivision for the performance of any services between the proposed District and such other political subdivision and, if available, a form of the agreement. . II. PURPOSE OF THE PROPOSED DISTRICT The District will finance the construction of public improvements for the Vogl South development, which improvements shall be constructed to Town standards, warranted by the District, and dedicated and conveyed to the Town or its designee as provided in this Service Plan, or as otherwise required by the Town. The Town may require that landscaping improvements dedicated and conveyed to the Town be operated and maintained by an owners' association formed for the Vogl South development, for the use and benefit of residents, 4 taxpayers and property owners. The public improvements shall be financed, in part, through the issuance of indebtedness as set forth in Article V, "Financial Plan". Except as specified in or pursuant to this Service Plan, the District shall not construct or own any improvements, shall not provide for any maintenance, repair or operation of any improvements, and shall not perform any services without the consent of the Town as evidenced by a resolution of approval of the Town of Firestone Board of Trustees (the "Board of Trustees"). In addition, the District will not contract with any other governmental entity to receive any services which are or may become available from the Town, or to provide any services to or within any other governmental entity, without the prior written consent of the Town .. The District shall not provide any services or facilities within any area of the District overlapping with the service area of another district without first obtaining the written consent of each and every district whose service area is so overlapped. The District shall dissolve when its financial obligations are paid or provided for, or otherwise upon request of the Town, subject to then-applicable statutory requirements, all_ as further provided in Article VIII. ID. BOUNDARIES, POPULATION & VALUATION The District consists of approximately 115 acres 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, is the sole owner of all property within the boundaries of the District. A letter from the Developer 5 consenting to the formation of this District is attached hereto as Exhibit D and incorporated herein by this reference. The Vogl South development is being developed for the anticipated construction of 285 single-family homes by Developer. The current population of the District is zero. The population of the District at full build-out is estimated to be 829 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 $7,424,726. The property is currently zoned Planned Unit Development (PUD), for various residential use categories. The current assessed value is approximately $6,760. The total overlapping mill levy imposed upon the property within the proposed District for tax collection year 2005 was approximately 68.420 mills. 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 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 originally in the District remain in the District, and on 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. 6 IV. DESCRIPTION OF PROPOSED FACILITIES a. Type oflmprovements. The District will provide for the financing, construction, acquisition and installation of public improvements consisting of streets, traffic and safety controls, street lighting, water, landscaping, storm sewers and flood and surface drainage and park and recreation improvements and facilities (as the foregoing terms are used in § 32-1-1004(2), C.R.S. and the sections referenced therein) within the boundaries of the District. The District is also authorized to finance park and recreation or other capital improvements of the Town that are identified by the Town and located outside of the District, as provided in Article V.c., below. With the exception of those public improvements specifically identified in Exhibit F and authorized by this Service Plan, the District shall not finance, construct, acquire or install any improvements outside the boundaries of the District unless: (1) the Town, by written determination of its Town Engineer, determines that such improvements are necessary to connect service for the District to the facilities of the Town of other entities involved in providing services to the District; and (2) such proposed improvements are approved in advance by resolution of the Board of Trustees. The property within the District will receive water service from the Town and no other source. The District may finance, design, construct and install Town water system improvements and facilities located within the boundaries of the District and may finance, design, construct and install any offsite water system improvements necessary to connect to the Town water system, if such offsite improvements are authorized in the manner set forth in the preceding. paragraph. However, all water system improvements within the District shall be dedicated and conveyed to and owned by the Town upon Town acceptance and completion of the District's warranty obligations. All water rights for water service to the property shall be 7 owned by the Town; the District shall not purchase, own, manage, adjudicate or develop any water rights or water resources. The Organizers of the District have prepared a preliminary engineering survey based on the Town's construction standards. The table, attached hereto as Exhibit E, lists all facilities which the District, subject to development approval of the Town, will be authorized to finance, acquire, design, construct, and install, including the costs in current dollars of each, together with an explanation of the methods, basis and/or assumptions used. A letter. concerning the reasonableness of the cost estimates,· and of the methods, bases and assumptions used, is included in Exhibit E. Subject to the debt limit set forth in Article V.b. of this Service Plan and the requirements of Article V .c., the District will be authorized to fund any combination of the improvements. The combined estimated cost of the improvements is $4,897,539, which exceeds the estimated debt capacity of the District. Funding for improvements not funded by the District shall remain the responsibility of the Developer. The Town is not responsible for assuming any of the costs of the improvements. Maps showing the locations of the public improvements to be financed by the District are attached as Exhibit F. All water improvements are anticipated to be constructed within street right-of-way, unless otherwise required by the Town. The District shall be authorized to finance, acquire, design, construct and install only those types of public improvements and facilities which are authorized under this Article IV and which are generally shown on Exhibit F (and which are included in the Exhibit E cost estimates), subject to the specific final design and approval thereof by the Town. Phasing of construction shall be determined by the District to meet the needs of the residents and taxpayers within its boundaries; provided, however, that 8 improvements shall be installed in compliance with any phasing plan approved for the Vogl South development at the request of the Developer. b. Description of Existing Conditions. The area is predominantly undeveloped. c. Anticipated Development. The Developer anticipates total build-out to occur by 2013, with the construction of 50 single-family residences in 2008, 50 single-family residences in 2009, 50 single-family residences in 2010, 50 single-family residences in 2011, 50 single-fami_ly residences in 2012 and 35 single-family residences in 2013, 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. d. Public Improvement Schedule. Construction of the public improvements will commence as soon as possible following approval of the Service Plan. The public improvements will be phased to meet the development schedule, and shall be installed in compliance with any phasing plan approved for the Vogl South development. e. Town Construction Standards. All proposed facilities and improvements· shall be designed and constructed in accordance with the standards and specifications established by the Town and in effect from time to time, and with applicable standards and _specifications of the federal government and State of Colorado. All proposed facilities and improvements shall be compatible with those of the Town. The District and its engineer have designed and shall design the facilities and improvements to 9 meet such standards, specifications and compatibility requirements of the Town. In addition, any water facilities proposed to be financed by the District and dedicated to the Central Weld County Water District shall be designed by the Central Weld County Water District, in accordance with the design standards of that District and the Town. The District will obtain from the Town approval of civil engineering plans and permits for construction and installation of facilities and improvements prior to the construction or installation thereof. The District shall be subject to all applicable provisions of the Firestone Municipal Code and to all Town rules, regulations and policies with respect to the conduct of its work on· the improvements, as in effect from time to time. f. Limitation on Eminent Domain. The District shall not exercise any power of dominant eminent domain against the Town and shall not exercise any power of eminent domain without the prior written consent of the Town. No exercise of eminent domain by the District is contemplated or authorized in this Service Plan, and any proposed use thereof shall be considered a material modification of this Service Plan, and shall be subject to the Town's prior written approval. g. Dedication oflmprovements to the Town. Except as specifically set forth within Article IV .h. of this Service Plan, the District shall dedicate and convey to the Town or its designee, or cause to be dedicated and conveyed to the Town or its designee, all public improvements and facilities, including, but not necessarily limited to, all streets, traffic and safety controls, street lighting, sidewalks, water, landscaping, storm sewers and flood and surface drainage and park and recreation improvements and facilities, as well as all rights-of-way, fee interests and easements necessary for access to and operation and maintenance of such improvements and facilities, to the extent such property 10 interests have not been acquired by the Town through the land use approval process. The District shall not operate or maintain any public improvements, except as necessary to comply with its warranty obligations hereunder. The District shall also dedicate and convey to the Town or its designee any other facilities and improvements contemplated in this Service Plan, together with necessary rights-of-way, fee interests and easements. All such improvements, facilities, easements and rights-of-way shall be conveyed to the Town or its designee immediately upon completion of construction, installation and expiration of the three-year warranty period that commences after the Town has issued a Conditional Acceptance as set forth below. All improvements, facilities, rights-of-way, fee interests and easements shall be conveyed and dedicated to the Town or its designee by instruments acceptable to the Town, free and clear of all liens and encumbrances, except those which are acceptable to the Town in its sole discretion. Failure to comply with the requirements of this Article IV shall be deemed to be an unauthorized material modification of this Service Plan. Once a public improvement to be· dedicated to the Town is constructed and installed, the Town shall. issue a "Conditional Acceptance" letter stating that the improvement has been constructed or installed in conformance. with the Town's standards, or shall issue a letter stating the corrections necessary to bring the improvement into compliance with Town standards for the issuance of such a "Conditional Acceptance" letter. The District at its expense shall promptly undertake any necessary corrections. Upon issuance of the "Conditional Acceptance" letter, the public improvements shall be warranted for three calendar years from the date of such "Conditional Acceptance", during which time the District shall maintain the improvements and correct all deficiencies therein as directed by the Town. At the conclusion of such three-year period, the Town shall issue a "Final Acceptance" letter if the public improvements conform to the Town's II specifications and standards, or shall issue a letter stating the correction necessary to bring the improvement into compliance with Town standards for the issuance of such a "Final Acceptance" letter. The District at its expense shall promptly undertake any necessary corrections. A "Final Acceptance closing" shall then be arranged and held (such closing in no event to occur more than 120days after the issuance of the "Final Acceptance" letter),-at which time the Town will issue a "Final Acceptance" for all public improvements to be accepted by it, and the District will execute and deliver to the Town all necessary instruments to dedicate and convey to the Town the improvements and facilities, and all necessary rights-of-way, fee interests and easements. h. Ownership and Operation of Facilities by the District. The District shall not be authorized to own or operate any improvements or facilities to be provided pursuant to this Service Plan, other than as necessary to permit the financing and construction thereof (including compliance by the District with its warranty obligations as provided in Article IV.g., above), except through approval by the Town by resolution or through an amendment to this Service Plan. Nothing herein shall limi.t the Town's authority to require that improvements and facilities be operated or maintained by an owners' association formed for the Vogl South development. i. Acquisition of Land fo~ Public Improvements. The District shall acquire at no cost to the Town all lands or interests in land required by the Town for construction of street, traffic and safety controls, street lighting, water, landscaping, storm sewers and flood and surface drainage, and park and recreation improvements being constructed or installed by the District. Such land or interests in land may .be acquired by the District by instruments of conveyance and/or plat dedication, in form and substance acceptable to the Town. All land and interests in land shall be conveyed to the Town or its designee at no cost 12 to the Town at such times and by such instruments of conveyance as the Town may reasonably require (but in no event shall such conveyances be made later than the "Final Acceptance closing" described in Article IV.g., above), free and clear of all liens and encumbrances, except those which are acceptable to the Town. Exceptions must be approved by the Town in advance and in writing. Failure to comply with this provision shall be deemed to be an unauthorized material modification of this Service Plan. j. Services to be Provided by other Governmental Entities. In order to serve the District's residents and taxpayers, the District proposes to finance, construct, acquire and install the public improvements authorized by this Service Plan, but the District is not authorized to and shall not provide any ongoing services, programs, functions or activities within the District. The District shall receive fire protection and emergency services from the Frederick-Firestone Fire Protection District, either directly or, with respect to emergency services, through contract. The District shall receive sanitary sewer service from the St. Vrain Sanitation District. The District shall not provide any sanitary sewer services. The District shall obtain a resolution from the Carbon Valley Park and Recreation District consenting to the overlapping boundaries for financing purposes only. The District shall not provide ongoing park and recreation services to the District. The District shall obtain a resolution from the Central Weld County Water District consenting to the overlapping boundaries for financing purposes only. The District shall not provide ongoing water services to the District. Nothing herein shall limit or discharge the District's responsibilities for operation, maintenance and repair of public improvements prior to their acceptance by the Town and conveyance to the Town or its designee, or limit or discharge the District's warranty obligations. 13 k. Integration. All facilities and improvements shall be constructed so as to be integrated with existing and planned facilities and improvements of the Town and other entities providing service to the Vogl Smith development. The District shall obtain from such other serving entities approval of the proposed_ plans for the facilities and improvements. The District shall provide the Town with copies of any submittals to such entities at the time of their submittal, and with copies of any approvals from such entities upon receipt. V. FINANCIAL PLAN This Article V describes the nature, basis, method of funding, debt and mill levy limits, and · other financial requirements and restrictions for the District's public improvements program and operations. Together with Exhibit G (accountant's compilation, including spreadsheet presentation of financial forecasts, related schedules, analyses and notes as to forecast assumptions, and the Market Projection Consultant's Analysis and Developer's Letter in Support of Market Projections),. attached hereto and incorporated herein, this Article V constitutes the Financial Plan for the District as required by § 32-l-202(2)(b), C.R.S. The Financial Plan includes estimated operations and administration costs (including any estimated costs of non-capitalized warranty maintenance), proposed indebtedness and estimated interest rates and discounts and other major expenses related to the organization and operation of the District. The Financial Plan projects the issuance of the debt and the anticipated repayment based on the development assumptions (including the market projections and absorption forecasts set forth therein) for property within the boundaries of the District. The Financial Plan demonstrates that, at the projected level of development, and with the projected Developer support, the proposed District has the ability to finance the facilities identified 14 herein, and will be capable of discharging the proposed indebtedness on a reasonable basis. a. General. The provision of improvements and facilities by the proposed District will be financed in part through the issuance of general obligation (limited tax) bonds (the "bonds"), secured by the ad valorem taxing authority of the proposed District and other District revenues, limited as provided below. For all purposes of this Service Plan, the terms "bonds," "general obligation bonds," "general obligation debt," "general obligation indebtedness," or any similar term shall mean limited tax general obligation bonds as further provided in V.e., below, while the term "financial obligations" means district financial obligations of any kind and may inciude (but is not limited to) such limited tax general obligation bonds. The Financial Plan anticipates the issuance of one series of bonds in 2009. The combined total estimated cost of the improvements is $4,897,539. The District has the capacity to issue general obligation bonds in t,he aggregate principal amount of approximately $3,825,000, projected to yield net bond proceeds of approximately $3,263,187 (which will be further reduced by the District's contribution of $750,533 to the Town, as provided in Article V .c., below). Accordingly, it is currently anticipated that the bond proceeds will be insufficient to allow for repayment of approximately $2,384,885, which will be contributed by the Developer; 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 other changed circumstances), 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 Limited Mill Levy 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 be made· principally from bond proceeds and shall not exceed the amount advanced by the 15 • Developer for capital costs. The Accountant's forecasted statements of sources and uses of cash in Exhibit G do not include the above-described Developer contribution to the costs of District public improvements. 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. b. Debt Issuance. The District intends to issue one series of general obligation bonds in the aggregate principal amount of approximately $3,825,000. The aggregate principal amount of all general obligation bonds and construction financing notes (i.e., all 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 $4,207,500, excep_t to the extent otherwise provided in Article V.g., with respect to refunding bonds, and in Article V.h., 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 proceeds of the bonds issued by the District (after deduction of reasonable amounts for capitalized interest, capitalized reserves (if any) and issuance costs, and after deduction of the required contributions to the Town pursuant to Article V.c., below) will be immediately deposited into an escrow account held by the bond trustee. The escrow documentation for the bonds shall provide that no bond proceeds are to be released from such ·escrow account until building permits representing a total of at least $1,719,432 in projected assessed valuation (as certified to the bond trustee by an authorized officer of the District), which is estimated to be represented by 66 single family dwelling units, 16 have been issued by the Town and all public improvements required to serve the single-family dwelling units for which such building permits have been issued have been completed and initially accepted by the Town in accordance with the Town subdivision requirements and subdivision agreement. The requirements of this paragraph are hereinafter referred to as the "Escrow Rel~ase Threshold." Once the Escrow Release Threshold has been reached, bond proceeds will be released from the escrow account into an unrestricted account on a pro-rata basis as building pennits are issued by the Town, as further described below. The amount of bond proceeds released into the unrestricted account will be on a per-unit basis .. For example, the proceeds from the bonds (net of reasonable amounts for capitalized interest and issuance costs, and after deduction of the required contributions to the Town pursuant to Article V.c., below) are projected to be $2,512,654. Therefore, for each building permit issued by the Town (over and above those building pennits relied on for compliance with the Escrow Release Threshold), approximately $11,450 per single-family dwelling unit will be transferred from the escrow account to the unrestricted account for each building pennit issued by the Town; provided, however, that such transfers from the escrow account shall not be made unless all public improvements required to. serve the single-family dwelling units for which such additional building permits have. been issued have been completed and initially accepted by the Town in accordance with the Town subdivision requirements and subdivision agreement. By depositing net bond proceeds into an escrow account and releasing portions of such proceeds only upon the conditions described above, the Town, its taxpayers and residents can be assured that payment of the bonds will be supported by continuing development. To the extent development does not occur, the escrow account will be used to pay bonds within the time · 17 required by any applicable federal requirements for tax-exempt bonds, but in no event later tban tbree years from tbe date of issue. Accordingly, this structure reduces tbe risk of excessive debt burden on tbe tax base of tbe District._ The District's Investment Banker has indicated tbat issuance of building permits is a generally accepted lending criterion for special district debt, and tbat accordingly, the escrow release requirements will evidence sufficient development activity witbin the District to support repayment of tbe corresponding debt. The projected par amount of each series of bonds is an estimate only. The actual amount of bonds issued will be subject to tben current actual and projected assessed valuation and market conditions as tbey exist at tbe time of issuance of each series of bonds and will be issued only in compliance witb tbe above- stated debt limit and all otber requirements and restrictions of this Service Plan. c. Required Transfers of Bond Proceeds to Town. The District will pay to tbe Town for deposit into tbe Town's capital improvements fund a total of $750,533 of tbe District's total net bond proceeds (tbe "Town contribution"), which shall be paid to tbe Town concurrently witb tbe issuance and delivery of the Bonds (anticipated to occur in 2009). By agreement between tbe Town and tbe District (to be evidenced by a supplement to tbe intergovernmental agreement between tbe Town and tbe District as provided in Article XIII and Exhibit N), tbe funds so paid to tbe Town shall be used by the Town to finance public improvements in addition to those described in Exhibits E and F. Such public improvements may be inside or outside tbe boundaries of the District and shall be witbin the types of public improvements tbat 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 sewers and flood and surface drainage, or park and recreation 18 improvements and facilities). Such 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 (the "IGA Amendment"), which IGA Amendment shall be fully executed before the District incurs apy financial obligations of any kind. The Developer 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 District's 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, stating the District's 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. 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 allocations 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 19 construction financing notes) actually issued by the District shall not exceed the debt limit of $4,207,500, as stated in Article V.b., above. Any increase in the amount of general obligation debt (together with construction financing notes) actually issued in excess of the projected amounts shown in Exhibit G will be cons\stent with the District's debt capacity at the time of such issuance .(based on higher than anticipated assessed values, lower interest rates, or other changes from projected circumstances). All bonds of the District will be sold for cash: The authorized maximum voted interest rate is 15% per annum and the maximum underwriting discount is 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 be a fixed rate and shall not exceed 300 basis points above the 30-year "AAA" Municipal Market Data rate in effect at the time the bonds . are sold. The term of any bonds_issued by the District shall not exceed 30 years .. Estimated interest rates used in Exhibit G are based on information furnished by the 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. 20 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 limitations stated herein, and subject to the provisions as to the. Limited Mill Levy as set forth below. All financial obligations of the District are subject to the provisions as to the Limited Mill Levy and other limitations as set forth below. -Other than ad valorem property taxes, specific ownership taxes, facilities fees (as'limited below), amounts capitalized from bond proceeds, and investment income on the foregoing, no District revenues shall be.pledged to aoy financial obligations of the District. 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 Piao, and such ao amendment sl)all be considered a material modification of the Service Plan. ·The District anticipates the imposition of facilities fees as set forth in Article V.i., below aod as reflected in the Financial Plan contained in Exhibit G. The District is not authorized to impose any user charges or any taxes other than ad valorem property taxes as provided in this Service Plan. All bonds of the District shall be structured utilizing a commercial bank with trust powers as trustee to hold the bond proceeds aod debt service funds aod 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 state and federal legal requirements, including without limitation § .32-1~ 21 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. Limited Mill Levy. "Limited Mill Levy" shall mean an ad valorem mill levy or levies (a mill being equal to 1/1 0 of I¢ per dollar of assessed valuation) imposed upon all taxable property in the District each year in an amount sufficient to pay the principal of, premium if any, and interest on the District's bonds as the same become due and payable, and to make up any deficiencies in any debt service reserve for the bonds, which mill levy or levies for debt service purposes shall not exceed a total of 50mills; provided however, that if the ratio of actual valuation to assessed valuation for residential real property (presently 7.96%, as shown in Exhibit G) is changed pursuant to Article X, section 3(1)(b) of the Colorado Constitution and legislation implementing such constitutional provision (which changes shall be determined in relation to 2006 as the base year), the Limited Mill Levy of 50 mills for debt service purposes as provided herein will be increased or decreased (as to all taxable property in.the District) to reflect such changes so that, to the extent possible, the actual tax revenues generated by the debt service mill levy, .as adjusted, are neither diminished nor enhanced as a result of such changes ("Gallagher adjustment"). The Limited Mill Levy shall be an enforceable limit on all District mill levies for debt service purposes. In addition to the Limited Mill Levy applicable to all District mill levies for debt service purposes, the total of all other District mill levies for administration, warranty maintenance (to the extent not capitalized), other operating expenses and all other purposes, shall be limited to six mills, as adjusted by the Gallagher adjustment. 22 f. Investor Suitability. Except as provided below in this Article V .f. as to rated bonds, the offering and sale of the District's bonds shall not involve a public offering, and the District's bonds shall be offered and sold only to financial institutions or institutional investors within the meaning of§ 32-l- 1101(6)(a)(IV), § 32-1-103(6.5) and§ 11-59-103(8), C.R.S. The District shall provide for and shall utilize appropriate minimwn denominations and mechanisms and procedures for transfers and exchanges of bonds that are reasonably designed to insure continuing compliance with such limitation of sales to financial institutions or institutional investors. · If the District's bonds are rated in one of the four highest investment grade rating categories by one or more nationally recognized organizations which regularly rate such obligations, compliance with the insti_tutional investor limitation set forth above shall not be required. g. Refunding bonds. General obligation refunding bonds may be issued by the District to defease original issue bonds in compliance with applicable law, but any such refunding shall not extend the maturity of the bonds being refunded nor increase the total debt service thereon and shall (notwithstanding the provisions of§ 32-1-l 101(6)(b), C.R.S.) meet the requirements of§ 32-l- 1101(6)(a), C.R.S. Refunding bonds shall not be subject to the debt limit stated in Article V.b., above, provided that such refunding bonds demonstrate net present value debt service savings; but if such refunding bonds do not demonstrate net present value debt service savings, any increase in principal amount of the refunding bonds over the principal amount of bonds being refunded shall be subject to such debt limit. Any issuance of refunding bonds must comply with Article V .f., above ("Investor Suitability"), Except to the extent otherwise expressly provided in this Article V.g., all limitations, restrictions and requirements of this Service Plan with respect to general obligation bonds of the District shall be applicable to refunding bonds, including, 23 without limitation, Limited Mill Levy, debt limit, maximum interest rate, maximum discount, maximum term, prohibition on acceleration, bank trustee requirement and opinion requirements. h. Construction Financing Notes Issued to Developer. The District may issue construction financing notes to the Developer to evidence the District's obligation to reimburse the Developer's advances for . construction costs; any Developer advances which are not so reimbursed shall be treated as Developer contributions as described in Article V.a., above. Such notes shall be subject to the following restrictions set forth above for general _obligation bonds: Limited Mill Levy, debt limit, maximum term, prohibition on acceleration, and opinion as to Service Plan compliance; but such notes shall not · be subject to the above-stated bank trustee requirement or bond counsel opinion requirements. The repayment of construction financing notes from proceeds of an equal or lesser principal amount of the District's bonds shall not be treated as an increase in the principal amount of District debt for purposes of the debt limit under this Service Plan. Such notes shall not be general obligations of the District, shall bear·no interest (see Exhibit G), shall be issued only to the Developer (arid therefore shall be not be subject to any underwriting discount), and shall not be sold, transferred, assigned, participated or used as security for any borrowing. The Developer hereby represents that it is an accredited investor, as that term is defined under§§ 3(b) and (4)(2) of the federal "Securities Act of 1933" by regulation adopted thereunder by the Securities an_d Exchange Commission, and the Developer.agrees that it will also be such an accredited investor if and when it acquires such notes. Such notes shall be paid from proceeds of the District's general obligation bonds (when and if received by the District, and subject to: (i) prior payment of amounts payable to the Town as provided in Article V.c., above; and (ii) the escrow requirements of V.b., above); otherwise the notes will be unsecured obligations of the District. 24 To the extent that any of such notes are outstanding when the District's general obligation bonds are also outstanding, payments on the notes may be made only if such payments do not adversely affect the District.'s ability to pay its general obligation bonds. The Developer solely assumes the risk of nonpayment or other default on such notes, including, without limitation, delay, inability or failure of the District to sell or issue its general obligation bonds. 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 administration. Mill levies imposed by the District for debt service purposes shall not exceed 50 mills, and mill levies imposed by the District for administration, operations and all other purposes shall not exceed six mills, except for Gallagher adjustments permitted under V.e., above. Although the mill levies imposed may vary depending on the timing and terms of the District's bond issue, when projected increases in valuation occur, and how much money is needed for District operations and admini~tration, it is estimated that a mill ·levy of approximately 45 mills will produce revenue sufficient to support debt service and administration, non-capitalized warranty maintenance and other operating expenses throughout the repayment period. The District also anticipates the imposition of facilities fees in amounts which shall not exceed $1,500 per single- family dwelling unit within the District. No other fees or user charges shall be imposed by the District. j. No Town Financial Obligations or Town Security . 'l)ie Town and the District are separate legal entities. The Town will not be a party to and will not be obligated with respect to any financial obligations of the District, and the District will not pledge any Town funds or assets for security for any financial obligations of the District. 25 k. District Operating Expenses. The District will require sufficient operating funds to plan and cause the public improvements to be constructed. The costs are expected to include: organizational, legal, engineering, accounting, compliance with state reporting and other administrative requirements, and (to the extent not capitalized) debt issuance costs and compliance with warranty obligations. The first year's operating budget (for 2006) is estimated to be $10,000. The operating budget amounts shown in Exhibit G are expected to be sufficient to enable the District to comply with any non-capitalized warranty obligations as described in Article IV.g., above. Until the District receives sufficient revenue from ad valorem taxes and other District sources, funds for District organizational costs, operations and administration will be contributed by the Developer. I. Quinquennial Review. Pursuant to§ 32-1-1101.5, C.R.S., the District shall submit application for a quinquennial finding of reasonable diligence in every fifth calendar year after the calendar year in which the District's ballot issue to incur general obligation indebtedness is approved by its electorate. Upon such application, the Board. of Trustees may accept such application or hold a public hearing thereon and take such actions as are permitted by law. The District shall be responsible for payment of the Town consultant and administrative costs associated with such review, and the Town may require a deposit of the estimated costs thereof. The Town shall have all powers concerning the quinquennial review as provided by statutes in effect from time to time. m. Letters. There is attached hereto as Exhibit H an underwriter's letter stating its intention to underwrite the District's bonds as proposed in this Financial Plan. There is attached hereto as Exhibit I a letter from legal counsel for the District stating that the petition for organization of the District, this Service Plan, notice and hearing procedures in connection _therewith, and provisions 26 thereof (including without limitation provisions as to the District's financial obligations, mill levies, fees and other revenue sources, as well as the intergove=ental agreement provided for in Article XIII and Exhibit N) meet the requirements of titles 11 and 32, C.R.S., and other applicable law. There is attached hereto as Exhibit J a letter from bond counsel for the District (i) stating that provisions for payments of bond proceeds to the Town for deposit into the Town's capital improvements funds are authorized and permissible under currently applicable laws, and that the District is authorized by currently applicable laws to undertake such borrowing and make such payments of bond proceeds to the Town; and (ii) describing any significant legal or tax requirements or restrictions that the Town will be expected to comply with in connection with such payments. VI. LANDOWNERS' OBLIGATIONS AS TO PUBLIC IMPROVEMENTS The creation of the District shall not relieve the Developer, any other landowner or subdivider of property within the District, or any of their respective successors or assigns, of obligations to construct public improvements for the Vogl South development, of the obligation to enter into a subdivision improvements agreement regarding such improvements, or of obligations to provide to the Town letters of credit as required by the Town to ensure the completion of such public improvements, or of any other obligations to the Town under Town ordinances, rules, regulations or policies, or under other agreements affecting the property within the District or the Vogl South development, or any other agreement between the Town and the Developer (or any such landowner, subdivider or successors or assigns). 27 VII. ANNUAL REPORT The District shall be responsible for submitting an annual report to the Town within 120 days from the conclusion of the District's fiscal year. Failure of the District to submit such report shall not constitute a material modification hereof, unless the District refuses to submit such report within 30 days after a written request from the Town to do so. The District's fiscal year shall end on December 31 st of each year. The content of the annual ·report shall include information as to the following matters which occurred during the year: a. . Boundary changes made or proposed; b. Intergovernmental Agreements entered into or proposed; c. Changes or proposed changes in the District's policies; d. Changes or proposed changes in the District's operations; e. Any changes in the financial status of the District including any issuance of financial obligations or any change in revenue projections or operating costs; f. A summary of any litigation and notices of claim involving the District; g. Proposed plans for the year immediately following the year summarized in the annual report; h. Status of construction of public improvements; i. The current assessed valuation in the District; and j. A schedule of all taxes imposed and tax or other revenues received in the report year, and proposed taxes to be imposed, and identified revenues to be received in the following year and the revenues raised or proposed to be raised therefrom. The foregoing list shall not be construed to excuse the requirement for prior written Town approval of those matters that are considered material modifications of this Service Plan or for 28 any other required Town approval. The annual report shall be signed by the President and attested by the Secretary of the District. Along with the annual report, and at any more frequent intervals as reasonably requested by the Town, the District shall provide to the Town a currently dated and written certificate, signed by the President and Secretary of the District, certifying that the District is in full compliance with this Service Plan. If the District is not in full compliance with this Service Plan, the certificate shall include a detailed statement describing such noncompliance, and the District shall cooperate fully with the Town in providing further information as to, and promptly remedying, any sucb noncompliance. The Town reserves the right, pursuant to § 32-l-207(3)(c) and (d), C.R.S., to request reports from the District beyond the mandatory statutory five year reporting report. The District shall provide the Town with a copy of the District's financial statement annually. In years in which an independent audit is not conducted, the District shall provide the Town with a copy of the application for exemption and the response by the State Auditor. In addition to the foregoing, the District shall cooperate with the Town by providing prompt responses to all reasonable requests by the Town for information, and the District shall permit the Town to inspect all public improvements and facilities and all books and records of the District. VIII. DISSOLUTION Promptly when all of the general obligation bonds to be issued by the District have been paid (or when provision for payment thereof has been made through establishment of an escrow as provided by§ 32-l-702(3)(b), C.R.S.), the District will so notify the Town and will cooperate fully with the Town in taking all steps necessary under then applicable law to dissolve the District (including, without limitation: formulating a plan of dissolution; executing the District's 29 consent to dissolve pursuant to§ 32-1~704(3)(b), C.R.S.; making any necessary agreements as to continuation or transfer of warranty maintenance and other services, if any, which are then being provided by the District; submitting a petition for dissolution to the District Court; and, conducting any required dissolution election). In addition, at any time after the District has issued all of its general obligation bonds (excluding refunding bonds) as contemplated by the Financial Plan, upon the Town's request, the District will cooperate fully with the Town to dissolve the District pursuant to a plan for dissolution stating that there are outstanding financial obligations anci providing that the District will continue in existence (with the Town Board of Trustees serving as the District Board of Directors if the Town so elects) to such extent as is necessary to adequately provide for the payment of such financial obligations, as provided in §§ 32-l-702(3)(c) and 32-l-707(2)(c), C.R.S. To the extent that any financial obligations are owned by the D_eveloper, the Developer shall cooperate fully with the Town to dissolve the District. Also, on or after December 31, 2010, if the District has not issued any of its general obligation bonds, and, irrespective of whether any, some or all of the District's bonds have been issued, on or after. December 31, 2012, the Town shall have the right to require the District to dissolve in accordance with applicable law, and the District will cooperate fully with the Town to dissolve the District. To the maximum extent permitted by law, the above-stated agreements to cooperate in dissolution of the District shall be binding on the undersigned Developer (which is the owner of I 00% of the land in the District) and shall also be binding on its successors in title to any and all land in the District (including the nominees for the initial Board of Directors set forth in Article X hereof and succeeding directors who own land within the District); and such agreements shall obligate all such persons to cooperate fully with the Town as described above, including without 30 limitation, the signing of petitions, execution of consents, and voting in favor of dissolution in any required election. If prior to. the issuance of any bonds or the incurrence of any other financial obligations by the District, the District wishes to dissolve in accordance·with applicable law, the Town shall consent to such dissolution. IX. CONSOLIDATION The District shall not file a request with the District Court to consolidate with another district without the prior written approval of the Board of Trustees. X. ELECTIONS Following approval of this Service Plan by the Town, and after acceptance .of the organizational petition and issuance of orders from the District Court, elections on the questions of organizing the District and approving bonded indebtedness and various agreements described herein, including the intergovernmental agreement between the Town and the District contemplated in Article XIII and Exhibit N hereof, will be scheduled. All elections will be conducted as provided in the court orders, the Uniform Election Code of 1992 (as amended from time to time), and Article X §20 of the Colorado Constitution (the "TABOR Amendment"), and are currently planned for November 7, 2006, but may be held on any legally permitted date. However, once the District conducts an election to authorize its proposed general obligation bonds, the District shall not call or conduct any subsequent election with the purpose or effect of extending the time for quinquennial review pursuant to § 32-1-1101.5, C.R.S. and Article V.l hereof. The election questions are expected to include whether to organize the District, election 31 of initial directors, and TABOR Amendment ballot issues and questions. Thus, the ballot may deal with the following topics (in several questions, but not necessarily using the exact divisions shown here): a. Whether to organize the District, b. Membership and terms of the initial board members, c. Approval of new taxes, d. Approval of maximum operational mill levies, e. Approval of bond and other financial obligations, f. Approval of an initial property tax revenue limit, g. Approval of an initial total revenue limit, h. Approval of an initial fiscal year spending limit, and i. Approval of a four year delay in voting on ballot issues. Ballot issues may be consolidated as approved in court orders. Promptly upon approval by the District's electorate, the District shall provide the Town with copies of all approved ballot issues. The petitioners intend to follow both the letter and the spirit of the Special District Act, the Uniform Election Code and the TABOR Amendment during organization of the District Future elections to comply with the TABOR Amendment may be held as determined by the elected Board of Directors of the District. The following persons, who are or will be owners of property within the District, are anticipated to be nominated for the initial board of directors of the District: Daniel S. Smith 6485 Silverleaf Avenue Firestone, Colorado 80504 Chris Chou 1321 Red Mountain Drive Longmont, Colorado 80501 32 Donna M. Smith 6485 Silverleaf Avenue Firestone, Colorado 80504 Ruth Chou 1000 Ithaca Drive Boulder, Colorado 80305 XI. INDEMNITIES Keith H. Zook 4675 Tanglewood Trail Boulder, Colorado 80301 The fully executed Prominence Partners I, LLC Indemnity Letter attached hereto as Part I of Exhibit K is submitted by the Developer to the Town as part of this Service Plan. The follil of the District Indemnity Letter attached hereto as Part II of Exhibit K shall be executed by the District and delivered to the Town immediately upon follilation of the District. The District shall not incur any financial obligations of any kind or otherwise perfollil any functions authorized under this Service Plan until the District Indemnity Letter has been duly executed by the District and delivered to the Town. The execution of such Indemnity Letters are material considerations in the Town's approval of this Service Plan, and the Town has relied thereon in approving this Service Plan. XII. DISCLOSURE AND DISCLAIMER; NO THIRD-PARTY RIGHTS The District will also record a statement against the property within the District which will include notice of the existence of the District, anticipated mill levy and maximum allowed mill levy. The follil of the notice is attached hereto and incorporated herein as Exhibit L, subject to any changes requested by the Town in the future. In addition, there is attached hereto as Exhibit M a follil of the Town's disclaimer statement. The District shall conspicuously include this disclaimer statement, or any modified or substitute statement hereafter furnished by the Town, in all offering materials used in connection with any bonds or other financial 33 obligations of the District ( or, if no offering materials are used, the District shall deliver the disclaimer statement to any prospective purchaser or investor with respect to such bonds· or financial obligations). No changes shall be_ made to the disclosure and the disclaimer set forth in Exhibits L and M, respectively, except as directed by the Town. Neither this Service Plan, the intergovernmental agreement to be. entered into between the Town and the District as described in Article XIII below, nor any other related agreements shall be construed to impose upon the Town any duties to or confer any rights against the Town upon, any bondholders, purchasers, investors, lenders or other third parties. XIII. INTERGOVERNMENTAL AGREEMENTS The District shall enter into an intergovernmental agreement with the Town which shall be in substantially the form set forth in Exhibit N. The District shall execute and deliver the intergovernmental agreement to the Town immediately upon formation ·of the District. The District shall not incur any financial obligations of any kind or otherwise perform any functions authorized under this Service Plan until the intergovernmental agreement has been executed and delivered to the Town. · The execution of such intergovernmental agreement is a material consideration in the Town's approval of this Service Plan, and the Town has relied thereon in approving this Plan. No other intergovernmental agreements are proposed at this time. Any intergovernmental agreements proposed to be entered into by the District shall be subj eel to review and approval by the Board of Trustees prior to their execution by the District. Failure of the District to obtain such approval shall constitute an unauthorized material modification of this Service Plan. 34 XIV. CONSERVATION TRUST FUND The District shall not apply for or claim any entitlement to funds from the Conservation Trust Fund or other funds available from or through governmental or nonprofit entities for which the Town is eligible to apply; The District shall remit to the Town any and all conservation trust funds which it receives. XV. MODIFICATION OF SERVICE PLAN The District shall obtain the prior written approval of the Town before making any material modifications to this Service Plan. Material modifications require a Service Plan amendment and include modifications of a basic or essential nature, including, but not limited to, the following: I. Any change in the stated purposes of the District or additions to the types of facilities, improvements, programs, activities or functions provided by the District; 2. Any issuance by the District of financial obligations not expressly authorized by this Service Plan, or under circumstances inconsistent with the District's financial ability to discharge such obligations as shown in the buildout, assessed valuation and other forecasts contained in Exhibit G, or any change in debt limit, change in revenue type (including, without limitation, the imposition of any tax other than ad valorem property tax as provided in this Service Plan) or change in maximum mill levy ( except for any necessary Gallagher adjustment as provided in Article V.e., above); 3. Any change in the types of improvements or change of more than 15% in the estimated costs of improvements from what is stated in Exhibit E of this Service Plan that adversely impact the District's financial ability to discharge its financial obligations; 35 4. Failure by the District to comply with the requirements of Article V.c. of this Service Plan or Section 6 of the intergovernmental agreement (the form of which is attached hereto as Exhibit N) concerning transfer of bond proceeds to the Town; 5. Failure by the District to enter into the intergovernmental agreement (the form of which is attached hereto as Exhibit N) or failure to execute and deliver the District indemnity letter (the form of which is attached hereto as Exhibit K, Part II) immediately upon the District's formation as provided in Articles XIII and XI, respectively, of this Service Plan, or failure to enter into the IGA Amendment as provided in Article V.c.; 6. Failure to comply with the requirements of this Service Plan concerning the dedication of improvements or the acquisition and conveyance of lands or interests in land; 7. The failure of the District to develop any capital facility proposed in this Service Plan when·necessary to service approved development"within the District; 8. Any proposed use of the powers set forth in §§ 32-1-ll0l(l)(f) and -1101(1.5), C.R.S., respecting division of the District; 9. The occurrence of any event or condition which is defined under the Service Plan or intergovernmental agreement as necessitating a service plan amendment; 10. The default by the District under any intergovernmental agreement; 1 I. Any of the events or conditions enumerated in § 32-1-207(2), C.R.S., of the Special District Act; or 12. Any action or proposed action by the District which would interfere with or delay the planned dissolution of the District as provided in Article VIll hereof. (The examples above are only examples and are not an exclusive list of all actions which may be identified as a material modification.) 36 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 any request by the District for modification of this Service Plan or administrative approval by the Town of any request hereunder. The Town may require a deposit of such estimated costs. XVI. FAILURE TO COMPLY WITH SERVICE PLAN In the event it is determined that the District has undertaken any act or omission which violates the Service Plan or constitutes a material departure from the Service Plan (including, without limitation, any material modification of the Service Plan as described in Article XV which is not duly authorized by the Town), the Town may utilize the remedies set forth in the statutes to seek to enjoin the actions of the District, or may withhold issuance of any permit, authlrization, · acceptance or other administrative approval for the Vogl South development, or may pisue any other remedy available at law or in equity, including affirmative injunctive relief to require the District to act in accordance with the provisions of this Service Plan. The District shall pay any and all costs, including attorneys' fees, incurred by the Town in enforcing any provision of the Service Plan. To the extent permitted by law, the District_hereby waives the provisions of§ 32-l-207(3)(b), C.RS., and agrees it will not rely on such provisions as a bar to the enforcement by the Town of any provisions of this Service Plan. 37 XVII. RESOLUTION OF APPROVAL The Developer and other proponents of the proposed District agree to and shall incorporate the Board of Trustee's Resolution of Approval, including any conditions on such approval, into the Service Plan presented to the appropriate district court. Such resolution shall be attached as Exhibit 0. XVIII. SEVERABILITY If any portion of this Service Plan is held invalid or unenforceable for any. reason by a court of competent jurisdiction, such portion shall be deemed severable and its invalidity or its unenforceability shall not cause the entire Service Plan to be terminated. Further, with respect to any portion so held invalid or unenforceable, the District and Town agree to pursue a Service Plan amendment or take such other actions as may be necessary to achieve to the greatest degree possible the intent of the affected portion. 38 XIX. CERTIFICATION This Service Plan is submitted to the Town by the undersigned Developer, which is the District petitioner, and with the consent of all propertY owners of all property within the boundaries of the proposed District. The undersigned has caused written notice of the Town's hearing on the proposed Service Plan to be duly given to all "interested parties" within the meaning of§ 32-1-204, C.R.S., and will or has caused all other required filings to be made and all other applicable procedural requirements to be met The infonnation contained in this Service Plan is true and correct as of this date. PROMINENCE PAR1NERS I, LLC, a Colorado limited liability company By: Prominence Development Corp., a Colorado Corporation, its Manager Daniel S. Smith, Executive Vice-President October 26, 2006 EXHIBIT A Legal Description Legal Description for Vogl Land -South Parcel A parcel of land being the Northwest quarter of Section 8; except the North 871.2 feet of the East 500 feet, the South 1904.4 feet of the West 719.75 feet and the North 755 feet of the West 380 feet, Township 2 North, Range 67 West of the 6th P.M., County of Weld, State of Colorado. Commencing at the Northwest corner of said Section 8 whence the Southwest corner of said Northwest quarter bears South 00°00'00" East 2659.469 feet, said line fonning the basis of bearings for this description;-thence along the North line of said Northwest quarter, North 89°09'38" East 380.04 feet to the true point of beginning; Thence continuing North 89°09'38" East 1808.95 feet; thence along a line 500.02 feet Westerly from and parallel with the East line of said Northwest quarter, South 00°23'23" East 871.23 feet; thence along a line 871.2 feet Southerly from and parallel with the North line of said Northwest quarter, North 89°09'38" East 500.02 feet to a point in the East line of said Nor\hwest quarter; thence South 00°23'23" East 1789.35 feet to the Southeast corner of said Northwest quarter; thence along the South line of said Northwest quarter, South 89°11 '19" West 1987.26 feet; thence along a line 719.75 feet Easterly from and parallel with the West line of said Northwest quarter, North 00°00'00" East 1888.20 feet; thence North 88°59'00" West 339.80 feet; thence along a line 380.0 feet Easterly from and parallel with the West line of the Northwest quarter, North 00°00'00" East 760.60'feet to the true point of beginning. The north 30.00' of said parcel is excepted from this parcel due to an exception recorded October 14, 1889 in Book 86 at Page 273. The parcel ofland (after the exception has been deducted) contains 115.53 acres. EXHIBITB Boundary Map SEC.&, 12N,, A87W. &TH P.M. !Ni COO. SEC. SEC. 7, 1'2H, R&7W, mt P.M. L ___ _ W ROW (sount OT stCTlON ~E:) SEC. II. ffll. RlfflV. &TH P.M, 11S.SJ ACRES (DOES NOT INQJJD£ THE EXISTING 3f1 ROW. DOES \NCWDE TltE 30' OF PROPOSED ROW lHAT W.U. BE: 0£DICAlED TO lHE llJYm) ...... ,.., Rll'7W, 1TH P.IL SEC. a, 1'2H, R87W. IS1H P.M. ,.._ f8 REBAR lfflt 0: AWM. CAP LSf23MO 1994 PER U<NJ. REOCH> DATED 1-18-95 PI.SfZ3500 EXHIBITC Vicinity Map BENCHMARK SEC. 5 SEC. I BLVD SEC. 12 SEC. 8 SABLE AVE SEC. 13 SEC. 18 SE • 17 EXHIBITD Property Owner's Consent Town of Firestone Post Office Box 100 Firestone, Colorado 80520 October 26, 2006 RE: Proposed The Springs South Metropolitan District (the "District") To Whom It May Concern: Promioence Partners I, LLC, a Colorado limited liability company, is the owner of the property attached hereto as Exhibit A, which property is proposed to constitute the boundaries of the District. The. purpose of this letter is to advise that I, Daniel S. Smith, as Executive Vice President of Prominence Development . Corp., a Colorado Corporation, as Manager of Prominence Partners I, LLC, consent to the organization of the District. STATE OF COLORADO COUNTY OF WELD PROMINENCE PAR1NERS I, LLC, a Colorado limited liability company · By: Prominence Development Corp., a Colorado Corporation, its Manager Daniel S. Smith, Executive Vice-President ) . ) ss ) Subscribed and sworn to before me on this 26 th day of October 2006, by Daniel S. Smith, as Executive Vice President of Promioence Development Corp., a Colorado Corporation, as Manager of Promioence Partners I, LLC, a Colorado limited liability company. [SEAL] Notary Public My commission expires __________ . The Springs South\Scrvicc Plan JLOl426081106 0773.0003 EXHIBIT A Legal Description for Vogl Land -South Parcel A parcel of land being the Northwest quarter of Section 8; except the North 871.2 feet of the East 500 feet, the South 1904.4 feet of the West 719.75 feet and the North 755 feet of the West 380 feet, Township 2 North, Range 67 West of the 6th P.M., County of Weld, State of Colorado. Commencing at the Northwest comer of said Section 8 whence the Southwest comer of said Northwest quarter bears South 00°00'00" East 2659.469 feet, said line forming the basis of bearings for this description; thence along the North line of said Northwest quarter, North 89°09'38" East 380.04 feet to the true point of beginning; Thence continuing North 89°09'38" East 1808.95 feet; thence along a line 500.02 feet Westerly from and parallel with the· East line of said Northwest quarter, South 00°23 '23" East 871.23 feet; thence along a line 871.2 feet Southerly from and parallel with the North line of said Northwest quarter, North 89°09'38" East 500.02 feet to a point in the East line of said Northwest quarter; thence South 00°23'23" East 1789.35 feet to the Southeast comer of said Northwest quarter; thence along the South line of said Northwest quarter, South 89°11 '19" West 1987.26 feet; thence along a line 719.75 feet Easterly from and parallel with the West line of said Northwest quarter, North 00°00'00" East 1888.20 feet; thence North.88°59'00" West 339.80 feet; thence along a line 380.0 feet Easterly from and parallel with the West line of the Northwest quarter, North 00°00'00" East 760.60 feet to the true point of beginning. The north 30.00' of said parcel is excepted from this parcel due to an exception recorded Ociober 14, 1889 in Book 86 at Page 273. · The parcel of land (after the exception has been deducted) contains 115.53. acres. EXHIBITE Engineer's Estimate of Costs and Certification THE SPRINGS SOUTH METROPOLITAN DISTRICT PUBLIC IMPROVEMENTS ESTIMATE OF PROBABLE CONSTRUCTION COSTS CONSTRUCTION ITEM QTY UNIT UNIT COST STORM SEWER 5' Type R Inlets 6 EA 3,270.00 15' Type R Inlet I EA 6,580.00 Single Type C Inlet 4 EA 5,000.00 Double Type C Inlet 4 EA 8,000.00 Type 13 combination Inlet 2 EA 7,000.00 Type 13 Inlet 2 EA 4,500.00 4' Manholes 8 EA 1,965.00 5' Manholes 10 EA 2,527.00 18" RCP 467 LF 40.00 24"RCP 45 LF 50.00 30"RCP 1,364 LF 55.00 36"RCP 33 LF 60.00 42"RCP 573 LF 80.00 30"RCP FES wffrash Rack 1 EA 1,215.00 42"RCP FES wffrash Rack 1 EA 2,000.00 24"HDPE 302 LF 60.00 30"HDPE 695 LF 70.00 24" HDPE FES wffrash Rack I EA 1,100.00 30" HDPE FES wffrash Rack 3 EA 1,200.00 4'x20' box culvert 158 LF 1,000.00 Wingwalls 2 EA 1,700.00 75' riprap weir 300 CY 50.00 Grass swales 2 LS 2,000.00 Detention Pond 1 LS 50,000.00 Outlet Structure 1 EA 5,000.00 Subtotal WATERLINE 8" Water Line 12,794 LF 25.00 811 Bends · 60 EA 296.00 8" Water Valve & Box 52 EA 940.00 8 11 Tee 13 EA 394.00 8" Cross 1 EA 486.00 811 x8"x6 11 Tee 24 EA 300.00 6" Water Line 536 LF 20.00 8" Plug, Thrust Block, & temp blowoff I EA 908.00 Air Relief Valve 4 EA 1,330.00 Taps (285 SFE) . 285 EA 660.00 Tie into existing system 2 EA 1,000.00 Fire Hydrant Assemblies 24 EA 2,700.00 Subtotal TOTAL COST 19,620.00 6,580.00 20,000.00 32,000.00 14,000.00 9,000.00 15,720.00 25,270.00 18,680.00 2,250.00 75,020.00 1,980.00 45,840.00 1,215.00 2,000.00 18,120.00 48,650.00 1,100.00 3,600.00 158,000.00 3,400.00 15,000.00 4,000.00 50,000.00 5,000.00 596,045.00 319,850.00 17,760.00 48,880.00 5,122.00 486.00 7,200.00 10,720.00 908.00 5,320.00 188,100.00 2,000.00 64,800.00 671,146.00 August 22, 2006 THE SPRINGS SOUTH METROPOLITAN DISTRICT PUBLIC IMPROVEMENTS ESTIMATE OF PROBABLE CONSTRUCTION COSTS CONSTRUCTION ITEM QTY UNIT UNIT COST STREET -WCR #24 8" Full Depth HBP 1,992 SY 22.46 Subgmde Preparation 1,992 SY 1.69 Curb Return 4 EA 1,800.00 Signage & Strioing I LS 10,000.00 Subtotal STREET -On Site Median Curb & Gutter 434 LF I 1.04 Mountable Curb, Gutter, & Sidewalk 25,320 LF 20.50 6" Full Depth Asphalt 42,956 SY 16.50 7" Full Depth Asphalt 212 SY 19.48 Subgmde Preparation 62,165 SY 1.69 Street Lights 55 EA 2,400.00 Handicap Ramp 51 EA 621.60 6' Crosspan 13 EA 1,750.00 Postal Pads (for mailboxes) 12 EA 721.50 Speed Limit Signs 12 EA 449.00 Stop & Street Signs 16 EA 954.00 Subtotal LANDSCAPING Trees & shrubs 601 EA 194.29 Mulch & Weed Barriar 9,815 SF 1.00 Edging 1,615 LF 2.00 Manicured Landscape 216,927 SF 0.40 Native _Seed Landscape 2,794,610 SF 0.25 Irrigation 226,742 SF 0.99 Play Equipment I EA 100,000.00 Benches I EA 1,000.00 Shade Structure I EA 27,000.00 Entry Signs 2 EA 35,000.00 Subtotal EARTHWORK.&-EROSION CONTROL _ Cut Earth and recompact 140,000 CY 1.50 Straw Bale Barrier 12 EA 66.00 Silt Fence 5,669 LF 1.30 Inlet Protection 19 EA 135.00 Vehicle Tracking · 2 EA 799.00 Ripmp 40 CY 55.00 Subtotal TOTAL ESTIMATE Construction Contingency I 0% GRAND TOTAL TOTAL COST 44,740.32 3,366.48 7,200.00 10,000.00 65,306.80 4,791.36 519,060.00 708,774.00 4,129.76 105,058.62 132,000.00 31,701.60 22,750.00 8,658.00 5,388.00 15,264.00 1,557,575.34 116,768.29 9,815.00 3,230.00 86,770.80 698,652.50 224,474.58 100,000.00 1,000.00 27,000.00 70,000.00 1,337,711.17 210,000.00 792.00 7,369.70 2,565.00 1,598.00 2,200.00 224,524.70 4,452,309.01 445,230.90 $ 4,897,539.92 August 22, 2006 Aug-31-06 09:SSA PARK ENGINEERING l II I PARK ENGINEERING CONSULTANTS . . August 31, 2006 Town of Firestone I 51 Grant Avenue Firestone, Colorado 80520 RE: Proposed "The Springs South Metropolitan District" To Whom It May Concern: I, Joel Seamons, a Registered Professional Engineer in the State of Colorado, have reviewed the Engineer's Estimate of Probable Construction Costs within the Service Plan for The Springs South Metropolitan District in the Town of Firestone, Colorado. The Engineer's Estimate of Probable Construction Costs was based on the following information and assumptions: A. The quantities for each item were based on a conceptual design of public improvements prepared by Park Engineering Consultants that was not reviewed or approved by appropriate governing agencies. B. Unit Costs were based on recent bid costs for similar projects. These costs represent improvements being constructed in accordance with Town standards. · Based on these assumptions, I believe t:hat the Engineers Estimate of Probable Construction Costs contained within the Service Plan for The Springs South Metropolitan District is reasonable for the public improvements portion of this project. Additionally, I have reviewed the exhibits of the location of public improvements within the Service Plan for the district (Service District Roadways, Storm Drainage System, Water Distribution System, Parks and Open Space) and believe the exhibits represent the conceptual design of the public improvements prepared by Park Engineering Consultants. Sincerely, Park Engineering Consultants Joel Seamons, P.E. · Senior Project Engineer P.02 420 21st Ave. Suite 101 • Longmont, CO 80501 • (303) 651-6626 • FAX (303) 651-0331 E-mail don@parkengineering.net EXHIBITF Location of Public Improvements NO SCALE '1 i 'i NOlES, WCR 15 TO BE PAVED FROM INTERSECTION TO NORlH ENO OF COMMERCIAL PARCEL t. lHla<NESS OF LOCAL STREE'TS: e• FULl DEPnt ASPHALT. 2. lHICKNESS OF ENTRYWAYS: -r ML DEPTH ASPHALT. 3. 'IHICKNESS OF AR'TmlAI.. STREETS: a• FUU DEPlH ASPHALT. F.! PARK ENGINEERING CONSULTANTS 42.0 21ST A\nfUE. QITE 101 UlffCMatT C:O. ll0SO'I (JCD)GSl-flW SPRINGS SOUlH MElROP()IJTAN DlstRJCT STREET IMPROVEMENTS NOTES: 1. ON-snE WA1ER LINE TO BE e•. NO SCALE PARK ENGINEERING CONSULTANTS 420 219T A'vOlt.E. sum: 101 IDIGM0NT CD. 1511501 (lGl)ll.!11-418%8 E SPRINGS SOU1H MElROP(llJTAN DIS1RlCT WATER LINE IMPROVEMENTS .. ..,. 367-2 8 RIPRAP PROVIDED T STORM OUn.ETS DETENTION ~t POND "- RIPRAP PROVIDED T STORM DUn.ETS RIPRAP PROVIDED AT STORM OUTLETS NO SCALE PARK ENGINEERING CONSULTANTS 420 21ST Am«£. SIJTE 101 LCltGMONT CO. IS050l (303)551-flZI THE SPRJNOS SOUTH ME1ROP0UTAN DISIRICT STORM SEWER IMPROVEMENTS i1i ~ 0 ii Q. ii F ~ 0 REGIONAL lRAIL SYSTEM NO SCALE u' < ., ~ i1i ~ cl z z < :,: <.> w '-' < z < 0: 0 Ii \i i 1 NOTtS, 1. TOTAL MANICURED LANDSCAPE: 4.96 AC (215,935 SF) 2. TOTAi.. NATI~ LANDSCAPE: 37.24 AC (1,162,026 Sf) ' ' I ' ' I ' ' 10.65 A~ FUTURE S~OOl SITE ' F.! I ! ' I ! ' I ENlRY 3 1--1--(FUT\JRE) PARK ENGINEERING CONSULTANTS 4ZO 21ST A.'1tHUE. SUITE 101 LONGMONT CO. ll0501 (Jm)el•AUI 1HE SPRINGS SOUlK MF:TROPOUTAN DISIRICT LANDSCAPE IMPROVEMENTS EXHIBITG Financial Plan Forecasted Cash Surplus Balances and Cash Receipts and Disbursements Market Projection Consultant's Analysis Developer's Letter in Support of Market Projections The Springs South Metropolitan District Forecasted Statement of Sources and Uses of Cash For the Years Ending December 31, 2006 through 2039 J. W. Simmons & Associates, P. C. To the Petitioners of the Proposed The Springs South Metropolitan District Firestone, Colorado Certified Public Accountants We have compiled the accompanying forecasted statements of sources and uses of cash of the proposed Springs South Metropolitan District (Exhibit I), the related projected debt service schedule (Exhibit Ill and an analysis of absorption, facilities fees and assessed values (Exhibit 1111 for the years ending December 31, 2006 through 2039, in accordance with standards established by the American Institute of Certified Public Accountants. A compilation is limited to presenting in the form of a forecast information that is the representation of management and does not include evaluation of the support for the assumptions underlying the forecast. We have not examined the forecast and, accordingly, do not express an opinion or any other form of assurance on the accompanying statements or assumptions. Furthermore, there will usually be differences between the forecasted and actual results, because events and circumstances frequently do not occur as expected, and those differences may be material. We have no responsibility to update this report for events and circumstances occurring after the date of this report. PRELIMINARY DRAFT .... SUBJECT TD CHANGE October 26, 2006 9155 East Nichols Avenue., Suite 330, Centennial, Colorado 80112-3443 Telephone (303) 689-0833 Fax (303) 689-0834 The Springs South Metropolitan District Summary of Significant Assumptions and Accounting Policies December 31, 2006 through 2039 The foregoing forecast presents, to the best of the Developer's knowledge and belief, the expected cash receipts and disbursements for the forecast period. Accordingly, the forecast reflects its judgement as of October 26, 2006. The assumptions disclosed herein are those that the Developer believes are significant to the forecast. There will usually be differences between the projected and actual results, because events and circumstances frequently do not occur as expected, and those differences may be material. The purpose of this forecast is to show the amount of funds available for District operations, capital improvements and debt retirement with the issuance of a proposed bond issue totaling $3,825,000 in 2009. Note 1: Ad Valorem Taxes The· primary source of revenue for the District will be the collection of ad valorem taxes. Residential property is projected to be assessed at 7.96% of market values. Market values for 285'single family homes are estimated to average $300,000 as of 2006. Finished lots are projected at 10% of completed market values per lot. Market values are projected to inflate at 2% per year until built. After a home is built, it is assumed to inflate at 2% biennially thereafter. Exhibit Ill details the projected absorption, market values and related assessed values. Property is assumed to be assessed annually as of January 1st. Property included in this forecast is assumed to be assessed on the January 1st subsequent to completion. The forecast recognizes the related property taxes as revenue in the subsequent year. The County Treasurer currently charges a 1.5% fee for the collection of property taxes. These charges are reflected in the accompanying forecast as an expenditure. The mill levy imposed by the Districts are proposed to equal 6.00 mills for operations and 39.00 mills for debt service for a total levy of 45.00 mills. · The forecast assumes that Specific Ownership Taxes collected on motor vehicle registrations will be 10% of property taxes collected. It is projected that the percentage of the Specific Ownership Taxes attributable to the Debt Service mill levy will be pledged to the Series 2009 bonds and the percentage attributable to the General Fund mill levy will be used to pay for operating expenses. Note 2: Interest Income Interest income is assumed to be earned at 4.0% per annum. Interest income is based on the year's beginning cash balance and an estimate of the timing of the receipt of revenues and the outflow of disbursements during the course of the year. · Note 3: Facilities Fees The Springs South Metropolitan District Summary of Significant Assumptions and Accounting Policies December 31, 2006 through 2039 The District anticipates the imposition of a $1,500 facilities fee on each single family home. The fee will be collected upon the issuance of a building permit and it is forecasted that the fees will be pledged to the Series 2009 Bonds. Facilities fees are forecasted to be collected on 85 lots in 2008 and 50 lots for each year from 2009 through 2012. Note 4: Bond Assumptions The District proposes the issuance of general obligation bonds totaling $3,825,000 in December 2009. The bonds are projected to carry a coupon rate of 7.0% and mature 30 years from their issuance. It is anticipated that the bonds will be secured by a limited mill levy not to exceed 50.000 mills (adjusted for changes in the ratio of assessed values to market values), a portion of the Specific Ownership Taxes attributable to the Debt Service Fund mill levy and the facilities fees described in Note 3. $750,533 is to be transferred to the Town of Firestone's Capital Improvement Fund in full at the time of issuance. Net bond proceeds will be placed in escrow and can be released for repayment of developer advances and improvements on a pro rata basis as building permits are issued by the Town of Firestone. Exhibit II reflects the proposed repayment schedule of these bonds. The following table reflects the proposed sources and uses of funds for the issues. Series 2009 Sources: Uses: Note 5: District Improvements Bond proceeds Issuance costs Capitalized interest Town's Capital Improvement Fund Available for District improvements and repayment of developer advances $3,825,000 153,000 408,813 750,533 2,512,654 $3,825,000 Construction costs are estimated to total $4,897,539 and are projected to be paid from 2007 through 2011. Construction costs in the amount of $2,384,885 are not expected to be paid from bond proceeds. These costs are projected to be contributed to the District by the developer. Note 6: Operating and Administrative Expenses Administrative expenses for legal, accounting, audit, management and insurance are estimated to be $10,000 per year until 2008 when they are forecasted to increase to $35,000. Commencing in 2009 operating and administrative expenses are projected to inflate at 1 % per year. Operating expenses incurred prior to the collection of ad-valorem taxes are expected to be funded by developer contributions totaling $137,662. Exhibit I Springs South Metropolitan District Forecasted Sources and Uses of Cash For the Years Ended December 31, 2006 through 2039 20!!9 2lilO 2lill 2.0J..Z 2lllJ General Fund • Beginning cash available 0 0 0 0 0 101 101 0 IOI 101 8,087 20,070 Revenues Property taxes 1,290,054 0 0 0 2,610 10,116 17,718 25,827 33,737 41,696 45,630 46,542 Specific ownership taxes 129,005 0 0 0 261 1,012 1,772 2,583 3,374 4,170 4,563 4,654 Interest income 0 Developer contributions 137,662 10,000 10,000 35,000 32,518 24,728 16,837 8,398 181 1,556,721 10,000 10,000 35,000 35,389 35,855 36,327 36,808 37,291 45,866 50,193 51,196 Expenditures County treasurer fees 19,351 0 0 0 39 152 266 387 506 625 684 698 Operating expenses 1,332,292 10,000 10,000 35,000 35,350 35,704 36,061 36,421 36,785 37,153 37,525 37,900 1,351,643 10,000 10,000 35,000 35,389 35,855 36,326 36,809 37,291 37,779 38,209 38,598 Ending cash available 205,078 0 0 0 101 101 0 101 101 8,087 20,070 32,669 Mill levy 0.000 6.000 6.000 6.000 6.000 6.000 6.000 6.000 6.000 6.000 6.000 Capital Projects Fund • Beginning cash available 0 0 0 0 0 1,717,467 1,144,978 572,489 IOI IOI IOI IOI Revenues Bond proceeds• GO Bonds 3,825,000 3,825,000 Developer advances 2,512,654 1,702,851 809,803 Developer contribution 2,384,885 397,298 534,209 1,453,378 8,722,539 0 1,702,851 1,207,101 3,825,000 534,209 1,453,378 0 0 0 0 0 Expenditures Issuance costs 153,000 0 153,000 Trans fer to Debt Service 408,813 408,813 Repay developer advances 2,512,654 795,187 572,489 572,489 572,489 Town improvements 750,533 750,533 District improvements 4,897,539 1,702,851 1,207,101 534,209 1,453,378 8,722,539 0 1,702,851 1,207,101 2,107,533 1,106,698 2,025,867 572,489 0 0 0 0 Ending cash available IOI 0 0 0 1,717,467 1,144.978 572.489 IOI IOI IOI IOI IOI See Summary of Significant Assumptions and Accounting Policies Exhibit I Springs South Metropolitan District Forecasted Sources and Uses of Cash For the Years Ended December 31, 2006 through 2039 20.lll! 20.lll 2llll 2lllZ Zill Debt Service Fund • Beginning cash available 0 0 0 0 127,500 632,638 517,953 455,663 450,460 427,050 460,430 522,773 Revenues Property taxes 8,344,390 0 0 0 16,965 65,752 115.168 167,876 219,288 271,025 296,593 302,525 Specific ownership taxes. 834,439 0 0 0 1,697 6,575 11,517 16,788 21,929 27,103 29,659 30,252 Facilities fees 427,500 127,500 75,000 75,000 75,000 75,000 0 Transfer from Capital Projects 408,813 0 408,813 Interest income 265,118 0 0 2,918 8,725 7,503 7,401 8,413 ' 9,067 10,290 11,165 10,280,260 0 0 127,500 505,393 156,051 209,188 267,064 249,630 307,195 336,542 343,942 Expendit~res Debt service -Series 2009 9,901,350 267,750 267,750 267,750 267,750 267,750 267,750 292,750 Trustee fees 60,000 2,000 2,000 2,000 2,000 2,000 2,000 2,000 County treasurer fees 125,166 0 0 0 254 986 1,728 2,518 3,289 4,065 4,449 4,538 10,086,516 0 0 0 254 270,736 271,478 272,268 273,039 273,815 274,199 299;288 Ending cash available 193,745 0 0 127,500 632,638 517,953 455,663 450,460 427,050 460,430 522,773 567;427 Mill levy 0.000 39.000 39.000 39.000 39.000 39.000 39.000 39.000 39.000 39.000 39:000 Total Mill Levy 0.000 45.000 45.000 45.000 45.000 45.000 45.000 45.000 45.000 45.000 45.000 Assessed valuation (OOO'sl Beginning 0 0 0 435 -1,686 2,953 4,305 5,623 6,949 7,605 New construction 7,425 0 435 1,242 1,267 1,292 1,318 . 1,214 656 0 Inflation (2.0% biennial) 2,220 9 59 112 152 Ending 9,645 0 0 0 435 1,686 2,953 4,305 5,623 6,949 7,605 7,757 See Summary of Significant Assumptions and Accounting Policies Exhibit I Springs South Metropolitan District Forecasted Sources and Uses of Cash For the Years Ended December 31, 2006 through 2039 Zlill 2lW! 2!!Zl 2!!22 201.J Zll2& 2025 General Fund I Beginning cash available 32,669 44,888 57.734 70,194 83,294 95,999 109,357 122,312 135,933 140,033 144,630 148,808 Revenues Property taxes 46,542 47.473 · 47.473. 48.423 48.423 49,391 49,391,' 50,379 41,982 42,822 42,822 43,678 Specific ownership taxes 4,654 4.747 4,747 4,842 4,842 4,939 4,939 5,038 4,198 4,282 4,282 4,368 Interest income Developer contributions 51,196 52,220 52,220 53,265 53.265 54,330 54,330 55.417 46,181 47,104 47,104 48,046 Expenditures County treasurer fees 698 712 712 726 726 741 741 756 630 642 642 655 Operating expenses 38,279 38,662 39,048 39.439 39,833 40,232 40,634 41,040 41.451 41,865 42,284 42,707 38,977 39,374 39.760 40,165 40,560 40,972 41,375 41.796 42,080 42,507 42,926 43,362 Ending cash available 44,888 57,734 70,194 83,294 95,999 109,357 122,312 135,933 140,033 144,630 148,808 153,492 Mill levy 6.000 6.000 6.000 6.000 6.000 6.000 6.000 6.000 5.000 5.000 5.000 5:000 Capital Projects Fund I Beginning cash available IOI IOI IOI (01 101 101 IOI IOI IOI IOI IOI IOI Revenues Bond proceeds • GO Bonds Developer advances Developer contribution 0 0 0 0 0 0 0 0 0 0 0 0 Expenditures Issuance costs Transfer to Debi Service Repay developer advances Town improvements District improvements 0 0 0 0 0 0 0 0 0 0 0 0 Ending cash available 101 101 101 101 101 IOI IOI IOI IOI IOI 101 IOI See Summary of Significant Assumptions and Accounling Policies Exhibit I Springs South Metropolitan District Forecasted Sources and Uses of Cash For the Years Ended December 31, 2006 through 2039 2l!2l 2llZ2 Zill 2!!21 2l!2> Debt Service Fund • Beginning cash available 567,427 609,660 646,275 632,854 618,845 604,097 589,926 576,083 558,928 543,469 526,217 501,888 Revenues Property taxes 302,525 308,575 269,014 274,394 274,394 279,882 279,882 285,480 285,480 291,190 291,190 297,013 Specific ownership taxes 30,252 30,858 26,901 27,439 27,439 27,988 27,988 28,548 28,548 29,119 29,119 29,701 Facilities fees Transfer from Capital Projects Interest income 11,993 12,711 12,448 12,173 11,884 11,606 11,335 10,999 10,695 10,357 9,880 9,409 344,770 352,144 308,364 314,007 313,718 319,477 319,206 325,027 324,723 330,666 330,189 336,124 Expenditures Debt service • Series 2009 296,000 308,900 315,750 321,900 322,350 327,450 326,850 335,900 333,900 341,550 348,150 353,700 Trustee lees 2,000 2,000 2,000 2,000 2,000 2,000 2,000 2,000 2,000 2,000 2,000 2,000 County treasurer fees 4,538 4,629 4,035 4,116 4,116 4,198 4,198 4,282 4,282 4,368 4,368 4,455 302,538 315,529 321,785 328,016 328,466 333,648 333,048 342,182 340,182 347,918 354,518 360:155 Ending cash available 609,660 646,275 632,854 618,845 604,097 589,926 576,083 558,928 543,469 526,217 501,888 477;856 Mill levy 39.000 39.000 34.000 34.000 34.000 34.000 34.000 34.000 34.000 34.000 34.000 34'.000 Total Mill levy 45.000 45.000 40.000 40.000 40.000 40.000 40.000 40.000 39.000 39.000 39.000 39.000 Assessed valuation (OOO'sl Beginning 7,757 7,757 7,912 7,912 8,070 8,070 8,232 8,232 8,396 8,396 8,564 8,564 New construction 0 0 Inflation (2.0% biennial) 155 158 161 165 168 171 Ending 7,757 7 912 7,912 8,070 8,070 8,232 8,232 8,396 8,396 8,564 8,564 8,736 See Summary of Significant Assumptions and Accounting Policies Exhibit I Springs South Metropolitan District Forecasted Sources and Uses of Cash For the Years Ended December 31. 2006 through 2039 2llJ,'l 21W 21!3, W6 2ll.J1 General Fund I Beginning cash available 153.492 157.750 162,523 166,862 171,727 176,147 181,105 185,610 190,662 195,252 200.401 Revenues Property taxes 43,678. 44,552 44,552 45,443 45,443 46,352 46,352 47,279 47,279 48,225 48,225 Specific ownership taxes 4,368 ' 4.455 4,455 4,544 4,544 , 4,635 4,635 4,728 4,728 4,822 4,822 Interest income Developer contributions 48,046 49,007 49,007 49,987. 49,987 50,987 50,987 52,007 52,007 53,047 53,047 Expenditures County treasurer fees 655 668 668 682 682 695 695 709 709 723 723 Operating expenses 43,134 43,565 44,001 44,441 44,885 45,334 45.787 46,245 46.708 47,175 47,646 43,789 44,233 44,669 45,122 45,567 46,029 46.483 46,954 47.417 47,898 48,370 Ending cash available 157,750 162,523 166,862 171,727 176,147 181,105 185,610 190,662 195,252 200,401 205,078 Mill levy 5.000 5.000 5.000 5.000 5.000 5.000 5.000 5.000 5.000 5.000 5.000 Caeital Projects Fund I Beginning cash available IOI 101 101 (01 (01 101 IOI 101 101 101 IOI Revenues Bond proceeds• GO Bonds Developer advances Developer contribution 0 0 0 0 0 0 0 0 0 0 0 Expenditures Issuance costs Transfer to Debt Service Repay developer advances Town improvements District improvemenls 0 0 0 0 0 0 0 0 0 0 0 Ending cas~ available IOI IOI IOI IOI IOI IOI IOI IOI 101 IOI IOI See Summary of Significant Assumptions and Accounting Policies Exhibit I Springs South Metropolitan District Forecasted Sources and Uses of Cash For the Years Ended December 31, 2006 through 2039 illJ ~ .20:!, 20.Jli 2ll3Z Debt Service Fund I Beginning cash available 477,856 448,754 427,225 402,460 382,172 355,714 331,233 303,354 275,316 239,532 212,506 Revenues Property taxes 297,013 302,954 302,954 309,013 309,013 315,193 315,193 321,497 321,497 327,927 327,927 Specific ownership taxes 29,701 30,295 30,295 30,901 30,901 31,519 31,519 32,150 32,150 32,793 32,793 Facilities fees Transfer from Capital Projects Interest income 8,838 8,416 7,931 7,533 7,014 6,534 5,987 5,438 2,391 2,124 1,938 335,553 341,665 341,180 347,447 346,928 353,246 352,700 359,084 356,038 362,843 362,658 Expenditures Debt service • Sl!ries 2009 358,200 356,650 359,400 361,100 366,750 371,000 373,850 380,300 385,000 382,950 374,500 Trustee fees 2,000 2,000 2,000 2,000 2,000 2,000 2,000 2,000 2,000 2,000 2,000 County treasurer fees 4,455 4,544 4,544 4,635 4,635 4,728 4,728 4,822 4,822 4,919 4,919 364,655 363,194 365,944 367,735 373,385 377,728 380,578 387,122 391,822 389,869 381,419 Ending cash available 448 754 427 225 402 460 382 172 355 714 331 233 303 354 275316 239 532 212 506 193 745 Mill levy 34.000 34.000 34.000 34.000 34.000 34.000 34.000 34.000 34.000 34.000 34.000 Total Mill Levy 39.000 39.000 39.000 39.000 39.000 39.000 39.000 39.000 39.000 39.000 39.000 Assessed valuation {000's) Beginning 8,736 8,736 8,910 8,910 9,089 9,089 9,270 · 9,270 9,456 9,456 9,645 New construction 0 0 0 0 0 0 0 0 Inflation (2.0% biennial) 175 178 182 185 189 Ending 8 736 8 910 8 910 9 089 9 089 9 270 9 270 9456 9456 9645 9 645 See Summary of Significant Assumptions and Accounting Policies Exhibit II Springs South Metropolitan District Schedule of General Obligation Debt• Series 2009 For the years Ended December 31, 2009 to 2039 Annual l'w l'!inwl ~ lnlliill llifil Balance 2009 3,825,000 2010 133,875 3,825,000 2010 133,875 267,750 3,825,000 2011 133,875 3,825,000 2011 133,875 267,750 3,825,000 2012 133,875 3,825,000 2012 133,875 267,750 3,825,000 2013 133,875 3,825,000 2013 133,875 267,750 3,825,000 2014 133,875 3,825,000 2014 133,875 267,750 3,825,000 2015 133,875 3,825,000 2015 133,875 267,750 3,825,000 2016 133,875 3,825,000 2016 25.000 7.00% 133,875 292,750 3,800,000 2017 133,000 3,800,000 2017 30,000 7.00% 133,000 296,000 3,770,000 2018 131,950 3,770,000 2018 45,000 7.00% 131,950 308,900 3,725,000 2019 130,375 3,725,000 2019 55,000 7.00% 130,375 315,750 3,670,000 2020 128,450 3,670,000 2020 65,000 7.00% 128,450 321,900 3,605,000 2021 126,175 3,605,000 2021 70,000 7.00% 126,175 322,350 3,535,000 2022 123,725 3,535,000 2022 80,000 7.00% 123,725 327,450 3,455,000 2023 120,925 3,455,000 2023 85,000 7.00% 120,925 326,850 3,370,000 2024 117,950 3,370,000 2024 100,000 7.00% 117,950 335,900 3,270,000 2025 114,450 3,270,000 2025 105,000 7.00% 114,450 333,900 3,165,000 2026 110,775 3,165,000 2026 120,000 7.00% 110,775 341,550 3,045,000 2027 106,575 3,045,000 2027 135,000 7.00% 106,575 348,150 2,910,000 2028 101,850 2,910,000 2028 150,000 7.00% 101,850 353,700 2,760,000 2029 96,600 2,760,000 2029 165,000 7.00% 96,600 358,200 2,595,000 2030 90,825 2,595,000 2030 175,000 7.00% 90,825 356,650 2,420,000 2031 84,700 2,420,000 2031 190,000 7.00% · 84,700 359,400 2,230,000 2032 78,050 2,230,000 2032 205,000 7.00% 78,050 361,100 2,025,000 2033 70,875 2,025,000 2033 225,000 7.00% 70,875 366,750 1,800,000 2034 63,000 1,800,000 2034 245,000 7.00% 63,000 371,000 1,555,000 2035 54,425 1,555,000 2035 265,000 7.00% 54,425 373,850 1,290,000 2036 45,150 1,290,000 2036 290,000 7.00% 45,150 380,300 1,000,000 2037 35,000 1,000,000 2037 315,000 7.00% 35,000 385,000 685,000 2038 23,975 685,000 2038 335,000 7.00% 23,975 382,950 350,000 2039 12,250 350,000 2039 350,000 7.00% 12,250 374,500 0 3,825,000 6,076.350 9,901,350 See Summary of Significant Assumptions and Accounting Policies Exhibit Ill Springs South Metropolitan District Forecasted Schedules of Absorption, Facilities Fees, Market Values and Assessed Values For the Years Ended December 31, 2006 through 2016 Schedule of Absoretion I Single Family Prooertv descrintion Eouivatenl 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 Total Single Family Homes 100.00% 50 50 50 50 50 35 285 Finished Lots 50 .0 0 0 0 1151 1351 0 Schedule of Facilities Fees I I Facilities Fee 1,500 127,500 75,000 75,000 75,000 75,000 0 0 0 0 427,500! Schedule of Market Values I Market Value 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 Total Single family Homes 300,000 0 0 15,606,000 15,918,120 16,236,482 16,561,212 16,892,436 12,061,200 0 0 0 93,275,450 Finished Lots 30,000 1,500,000 0 0 0 0 1450,0001 (1,050,0001 0 Totals 0 1,500,000 15,606,000 15,918,120 16,236,482 16,561,212 16,442,436 11,011,200 0 0 0 93,275,450 Schedule of Assessed Valuation I Assessment to Market Ratio 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 Total Residential Homes 7.96% 0 0 1,242,238 1,267,082 1,292,424 1,318,272 1,344,638 960,071 0 0 0 7,424,726 Finished Lots 29.00% 435,000 0 0 0 0 1130,5001 1304,5001 0 Totals 0 435,000 1,242,238 1,267,082 1,292,424 1,318,272 1,214,138 655,571 0 0 0 7,424,726 Cumulative 0 435,000 1,677,238 2,944,320 4,236,744 5,555,016 6,769,154 7,424,726 7,424,726 7,424,726 7,424.726 Collection Yr 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 See Summary of Significant Assumptions and Accounting Policies II t1RJ DRM REAL ESTATE ADVISORS, LLC 11B (:unsulting. Rt•scurch & V1.1iu:1tion .· October 26, 2006 Mr. Dan Smith, Executive Vice President Prominence Development Corporation P.O. Box 870 Firestone, Colorado Ms. Jennifer L. Gruber, Esq. WHITE, BEAR & ANKELE PROFESSIONAL CORPORATION 1.805 Shea Cent.er Drive, Suite I 00 Highlands Ranch, Colorado 80129 and Town of Firestone Town Planner ISi Grant Avenue P.O. Box 100 Firestone, Colorado 80520 Re: The Proposed Vogl South Residential Development The Springs South Metropolitan District (Proposed r~side11tial subdivision developmem comaining 285 single-family lots) Near SWC Firestone_ Boulevard and Frontier Street Firestone, Colorado Dear Sir or Madam: · I was engaged by Prominence Development Corporation to prepare a residential market analysis forlhe above referenced property for development planning. Jn preparing the study, I reviewed relevant portions of the service plan dated October 26, 2006 relating to the above referenced proposed .district. Included in the study, I have made an estimate of the projected absorption for the development based on historical and projected trends for the area. Based on the analysis presented within this market study, I have projected a rate of absorption for the subject's proposed 285 single-family residential units lo be in the area of SO units annually. Th.e rate of absorption is based on historical and projected trends for the area as well as the location of the property and the projected size of the lots to be marketed at the property. Please feel welcome to call anytime at the numbers. as they appear below if you have any questions. Respectfully submitted, f\111\REAL ESTATE ADVISORS, LLC ~1-~aunsell, MAI (970) 214-829 t -Direct Principal Certified General Appraiser -State of Colorado CG40002 I 54 ( 12131/07) 4025 Automation Way, Unit F4 • Fort Collins, Colorado 80525 Phone (970) 267-2900 • Fox (970) 530-0799 PROMINENCE PARTNERS I, LLC Board of Trustees Town of Firestone Post Office Box 100 Firestone, Colorado 80520 October 26, 2006 RE: A,nalysis of Absorption: fotentiais · The Vogl $outli i>ey~l,:ipine,;it OearTown Trustees: The lmdetsigned Developer and proponent in connection with the proposed The Spri,ngs South Metropolitan Di~ict, through related par:ties,. has been involved in two major planned residential communities totaling 422 single family residential housing units plus 44" acres commercial land and 20" multi-family land in the Okotoks, Alberta, Caruida area over the last eight years in addition to the Vogl Lands -North Parc,el which is immediately adjacent to the north of the Vogl Lands -South Parcel ("The Proposed Vogl South Development'.'). With this experience, we have utilized our relationships with area homebuilders currently operating in the Colorado housing ,;narket, tog~er with consul'8tion With our other independent· .marketing consultants; to independently verify the opinions expressed in the above-referenced analysis c.onducted by ORM Real Estate Ad~ors, lLC. We have reviewed the ORM analysis and support its findings. The.analysis of absorption potentials also satisfactorily confirms our projections and we request that it be admitted as a part of Toe Springs South Metropolitan Di~ct formation application. · Please do not hesitate to call with any quesµons you have about this-correspondence. Very truly ybura,_ PROMINENCE P AR1NERS I, LLC, a: Colorado limited liability cc,mpany · By: Prominence Development Corp., a Colorado Corporation, its Manager . -,"' v/ ... , .. / ~ ,, ,' ·' /'~ ..,.....?_,.,...,. e,J_.,,·.,···.l Daniel S. Smith, Executive Vice-President ' ' PROMINENCE PARTNERS I, LLC. • P.O. BOX 870 • FIRESTONE, CO• BOS20 • USA PHONB: (303} sn·-J~l2 • FAX: (303) 833-5148 • W\YW.PllOMINBNCBDliV6LOl"M"BNT.oom EXHIBITH Underwriter's Letters October 26, 2006 Town of Firestone 151 Grant A venue Firestone, Colorado 80520 ■ 0.A. Davidson & Co. member SIPC RE: Proposed The Springs South Metropolitan District To Whom It May Concern: As part of the service plan approval process, you have asked about the relationship between the investment bankers and the proposed The Springs South Metropolitan District. We are engaged with the petitioners of the proposed District to serve as underwriters for the District's voter authorized debt once sufficient credit support can be identified based on assessed value or guarantees provided by the landowners. The structure represented in the financing plan involves non-rated bonds issued to a third party, which we believe will be marketable based on the growth assumptions also included in this plan. In this proposed structure, the debt would be sold to institutional investors and secured by an escrow of bond proceeds, which would be released on a pro rata basis upon receipt of building permits. You also requested an explanation of the level of credit risk associated with the types of financing planned for this District. As with most start-up special Districts, this District expects to market bonds to third parties to raise capital for infrastructure before the entire project is complete. The level of risk taken by a bondholder and the interest rate required for the financing, decrease as development occurs; Our recent special district underwritings vary from bonds sold at-8% with land in the District sold to builders and no homes constructed to refunding bonds issued with most of the homes built at interest rates of 5% with "AAA" rated insurance. In the case of "AAA" rated, insured bonds, the underlying Districts generally have debt/AV ratios of 50% or less. The interest rate assumptions contained in the Service Plan are reasonable based on current market conditions. Because the financing in this District is intended to pay for public infrastructure, we issue bonds as close to the time the infrastructure is needed as possible. During the period when homes are being constructed but are not yet on the tax rolls, the District is projected to meet its debt service obligations with capitalized interest and facilities fees. While this does increase the bondholders' risk; the bondholders understand that risk and are compensated in the interest rate on the bonds. With regard to the Town's risk, we know of no example where a municipality was implicated in a special district default and see no legal argument for such implication. O.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 The Springs South Metro District Service Plan Letter Page2o/2. In the process cif underwriting bonds for a non-rated metropolitan district, one key criterion is the level of builder activity. Methods of evaluating such activity include contracts for sale of land in the District to builders, closing of land in the District to builders, model home construction and sales activity, building permits and certificates of occupancy. This Service Plan includes an escrow mechanism with release of bond proceeds based on building permits in the District. We hope this letter helps to clarify the financing model represented in the financing plan and the current market for special district bonds. Please call if you have any questions or require further clarification. Senior Vice President ~IR. h (. . Senior Vic::ident ■ 0.A. Davidson & Co. m11mber SIPC D.A. Davidson & Co. August 11, 2006 Petitioners for The Springs South Metropolitan District Board of Directors c/o Dan Smith Prominence Development Corp. POBox870 . Firestone, CO 80S20 RE: Letter of Intent -Proposed Ti,e Springs SouJ/1 Metropol/Ja11 District Dear Petitioners: member SIPC The petitioners are in the process of organizing the proposed The Springs South Metropolitan District (the "District"). Once the District is organized it is anticipated that the District will authorize and issue bonds (the "Bonds"). The Petitioners desire to engage the seivices of D.A. Davidson, a Division .of D.A. Davidson & Co. Fixed Income Capital Markets, its successors or assigns ("D.A. Davidson") regarding the crestion of the District and the process lesding to the sale of those bonds. Section 1, Arrangements Before Sale. There are several arrangements, which must be made before any sale of bonds can occur. These arrangements include, but are not limited to: Developing a Plan of Finance. In concert with bond counsel and District management, D.A. Davidson will prepare a plan of expected development, future capital improvements, revenues, expenses, and debt repayment Once such a plan is prepared and approved by the Proposed Board, various debt structures can be analyzed within the plan to determine what will work best for the District Strncturiog. Once a financing structure bas been selected by the Proposed Board, the terms of the debt (such as the sources of payment, the nature of the security, maturity schedule, the rights of redemption prior to maturity, etc.) must be determined, taldng into account both the interests of the District and the expectations of investors. Legal CounseL Legal counsel will be selected and engaged by the District to prepare the legal proceeding.9 necessary to authorize the debt, to assist in the preparation of disclosure documents necessary to sell the securities, and to render certain approving opinions when the securities are delivered. All fees and expenses of legal counsel selected hereunder shall be paid only from the proceeds derived upon sale of the Bonds. D.A. Davidson & Co. Fixed Income Capilal Markets 1600 Broadway, Suite 1100 • Denver, Colorado 80202-4922 • (303) 7-000 • (800) 942-7SS7 • Fax (303) 764-5770 www,dadavidson,com D.A. Davidson & Co. MomborSIPC The Springs South Metropolitan District Letter of Engagement Page2of4 Ratings. The ratings, which may be obtained for the bonds, are likely to have a significant effect on the rates of inmrest at which the bonds can be.sold. If it is demrmined to be in the District's best interest to obtain these ratings, D.A. Davidson will assist the District in preparing and submitting applications to the rating agencies along with detailed information about the District, the debt and aoy credit enhancement Credit Enhancement. By providing investors_ with a guarantee of timely payments on the debt, for even a limited time period, the purchase of credit enhancement can produce a net reduction in financing costs. D.A. Davidson will assist the District in investigating the availability of bond insurance, letters of credit or other fonns of credit enhancement and assist the District in determining the _cost effectiveness of these products. Disclosure to Investors. In connection with the issuance of bonds by the District and the sale and delivery of securities to ultimate investors, material information about the District and the transaction must be compiled in a disclosure document for distribution to prospective purchasers. All set forth above under Legal Counsel, the Disttict will engage the services of counsel to assist in the preparation of such disclosure documents and advise the District and Underwriter about sales practices, regulatory requirements, and security matters. If disclosure counsel is engaged as the Disttict's counsel, D.A. Davidson, will expect to receive the benefit of their lO(b}-5 opinion as well. In contemplation of submitting an offer to underwrite the bonds, we will assist the District in making these arrangements. By accepting this letter and accepting our assistance in making these arrangements, the District will not incur any obligation except to pay from the Bond proceeds the expenses as provided in Sections 4 and 6 of this letter. Our active participation in making these arrangements should not and cannot be construed by the District as a promise to underwrite the bonds or as an assurance that the bonds can be sold. Section 2. Underwriting. At such time as the arrangements for the sale of the securities have · been successfully completed, it is our intention to submit for consideration by the Petitioners our offer to underwrite the bonds. Our offer will be submitted in the form of a bond purchase agreement and will set forth terms of the purchase such as the rates of interest, the amount of any original issue premium or discount, our underwriting compensation (not to exceed 2 percent of the principal amount of the.bonds and not less than $30,000), and the date and conditions for delivery of the bonds. Until the District liCcepts our offer, there will be no obligation for this firm to purchase the bonds from the District In consideration for our work performed pursuant to Section 1, above, the District agrees that it will net consider other underwriting proposals unless D.A. Davidson bas first declined to undemTite the transaction on tenns and conditions acceptable to the Disttict Section 3. Remarlteting. In the event that the District issues bonds that are remarketed within their term, the District will have to engage a remarketing agent qualified to remarket the bonds on each remarketing date. If an underwriting agreement is reached between D.A. Davidson and the District, D.A. Davidson will submit an offer to serve as remarketing agent to the District for compensation not to exceed .25 percent of the amount of bonds annually remarketed. In further consideration for our work performed pursuant to Section 1, above, the District agrees that as long D.A. Davidson & C.O. membo, tlPC: The Springs South Metropo/ittln District Letter of Engagement Page3 o/4 as D.A. Davidson is the lead underwriter, it wiil provide D.A. Davidson with the option to submit a proposal to act as remarketing agent alid that it will not consider other proposals to act as remarketing agent unless and until the D.A. Davidson proposal for remarketing bas been rejected. Section 4. Payment of Expenses. Expenses will be incurred to make the arrangements for the sale of the bonds before their delivery and the receipt of proceeds by the District but such expenses will not be obligations of the District unless advance authorization bas been obtained from the District All of tho expenses incurred in connection with the authorization, sale, and delivery of tho bonds, including rating application, letter of credit fees and related expenses, insurance premiums, bond, disclosure and underwriter's counsal and our out-of-pocket expenses for any travel outside of Colorado shall be paid only from the proceeds derived upon sale of the Bonds. Section 5. Not an Offer to Buy. This letter of intent is !!!l! an offer to purchase or a guarantee that we will make an offer to purchase tho District's bonds in tho future. Our offer to purchase, if made, will·only be made by a bond purchase agreement prepared by our counsel and reviewed by the District and its counsel afu:r the successful conclusion of the pre-sale arrangements described in Section 1 and the completion of other preliminary matters. This letter serves to summarize tho steps we hope will lead to an underwriting of bonds at a future date at which time both D.A. Davidson and the District will incur and assume additional obligations as set forth in the bond purchase agreement Section 6. Private Placement of Debt, If the District determines that a private placement of debt to developer or other related parties would be in its best interest, tho District agrees it will utilize the services ofD.A. Davidson as an advisor for a fee-of 1% of the debt distributed. Section 7. Term of Letter Agreement This letter agreement shall remain in full force and effect until such time as the Petitioners of the District notify D.A. Davidson & Company in writing of its intent to terminate this letter agreement, provided that no such action or notice shall be effective until afu:r August 1, 2008. D.A. Davidson & Company may resign as invesbnent banker to the District and terminate this letter agreement by providing written notification with no less than 60 days prior notice to the District Sectioil 8.-Dlegal Aliens -Public Contracts for Services. D.A. Davidson certifies that it shall comply with the provisions ofCRS 8-17.5-101, et seq. D.A. Davidson shall not knowingly employ or contract with an illegal alien to perform work under this Agreement or enter into a contract with a subcontractor that knowingly employs or contracts with an illegal alien to perform work under this Agreement D.A. Davidson represents, warrants, and agrees that it (i) has verified that it does not employ any illegal aliens, through participation in the Basia Pilot Employment Verification Program administered by the Social Security Administration and the Deparbnent of Homeland Security, or (ii) otherwise will comply with the requirements of CRS 8-175-102(2)(b)(I). D.A. Davidson shall comply with all reasonable requests made in the course of an investigation by the Colorado Departinent of Lab9r and Employment If D.A. Davidson fails to comply with any requirement of this provision or CRS 8-17.5-101, et seq., the District may terminate this contract for breach of contract, and D.A. Davidson shall be liable for actual and consequential damages to the 'District o.A. Davidson & Co. m11mb111 SIPC · The Springs South Metropolitan District Letter of Engagement Page4of4 If D.A. Davidson obtains actual knowledge that a subcontractor performing work under this Agreement knowingly employs or contracts with an illegal alien, D.A. Davidson shall: (a) (b) Notify the subcontractor and the District within three days that D.A. Davidson has actual knowledge that the subcontractor is employing or contracting with an illegal alien; and Terminate the subcontract with the subcontractor if within three days of receiving the notice required pursuant to sub-paragraph (a) above, the subcontractor does not stop employing or contracting with the illegal alien, or provides information tn establish that the subcontractor has not lmowingly employed or contracted with an illegal· alien. Section 9. ·!Aeceptance. The petitioners or other authorized officers of the developer may indicate their desire-to proceed with the delivery of these investment banking services upon the basis set forth in this letter by executing one copy of this letter and returning it tn us. Respectfully submitted, D.A. Davidson, a Division ofD,A. Davidson & Co. Fixed Income Capital Markets . . . 31.i:@(Z Senior Vice President Senfor Vice President · ACCEPTED this 1 4th ·day of_..:.A:.::u::agc::U::Sc.::tc_ ____ __,.2006. Proposed The Springs Soutb Metro11olitan District IIBy Prominence Partners IL LLC, Developer/Petitioner :: Pr'2:Zi2;?' its Manager . Autborized Officer Daniels. Smith, Executive Vice-President D.A. Davidson & Co. m(l!Tlbar SIPC EXHIBIT I · Legal Counsel Letter GARYR.WHITB KRISTBN D. BEAR WILLIAM P. Ammut, Ja WHITE. BEAR . ANKELE K. SHAN Au.EN GEORCB M. RoWLEY }BNNIPBR L GaUBE.R .. Town of Firestone Post Office Box 100 Firestone, Colorado 80520 PROFESSIONAL CORPORATION ATTORNEYS AT LAW October 26, 2006 RE: Organization of The Springs South Metropolitan District V1croa J. MUNTEANU jOSBPH J. Lico CnmuAM.BEYER MEusSA E. RYAN ffmDtjUHL• CuNT C. WALDRON This firm has acted as counsel to the Petitioners in connection with the organization of The Springs South Metropolitan District (the "District"). Pursuant to the requirements of V.m. of the Service Plan for the District, this letter confirms that the petition for organization of the District filed with the Town on September 5, 2006, the Service Plan for the District, as approved on October 26, 2006, and the petition, notice, hearing and other procedures in connection with the approval of the Service Plan, have met the requirements of the Special District Act,§§ 32-1- 101, et seq., C.R.S., and that the provisions of the Service Plan, including, without limitation, provisions as to the structure and terms of the District's financial obligations, mill levies, fees and other revenue sources, as well as the Intergovernmental Agreement to be entered into by the District and the Town as provided in the Service Plan, are consistent with applicable provisions of titles 11 and 32, C.R.S., and other applicable law. Please be advised, however, that this firm has not been engaged as bond counsel to the District, nor will this firm serve as bond counsel at any time for the District. This letter does not purport to offer any opinion of the type customarily required to be given by bond counsel with regard to any bond transaction of the District. This letter is limited to the use of the addressee as set forth above, and may not be relied upon by other parties or in connection with any future sale, resale or transfer of bonds and may be relied upon only as stated herein. This letter may not be used, quoted or referred to, in whole or in part, for any other purpose without the prior, written consent of the firm. The Springs South\Scrvicc Plan JL01524 Very truly yours, WHITE, BEAR & ANKELE Professional Corporation 1024.0003 1805 SHBA CsNTBR DruVl!, SUITE 100 • HIGHLANDS R.ANcH, CoLORADo 80129 TELEPHONE (303) 858-1800 • FACSIMILE (303) 858-1801 • Also licensed in Florida ... Aho /J.urued in N~ Mako EXHIBIT J Bond Counsel Letter Town of Firestone I 51 Grant A venue Post Office Box 100 Firestone, Colorado 80520 October 26, 2006 Re: The Springs South Metropolitan District We have been asked to write this letter in our capacity as bond counsel to the proposed The Springs South Metropolitan District (the "District"). The Service Plan for the District provides in part as follows: "The District will pay to the Town for deposit into the Town's capital improvements fund a total of$750,533 of the District's total net bond proceeds (the "Town contribution"), which shall be paid to the Town concurrently with the issuance and delivery of the Bonds (anticipated to occur in 2009). By agreement between the Town and the District (to be evidenced by a supplement to the intergovernmental agreement between the Town and the District as provided in Article XIII and Exhibit N), the funds so paid to the Town shall be used by the Town to finance public improvements in addition to those described in Exhibits E and F. Such public improvements may be inside or outside the boundaries of the District and shall be within the types of public improvements 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 sewers and flood and surface drainage, or park and recreation improvements and facilities). Such 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 (the "IGA Amendment"), which IGA Amendment shall be fully executed before the District incurs any financial obligations of any kind." We have been asked to confirm that the foregoing is an acceptable use of bond proceeds. Town of Firestone, Colorado October 26, 2006 Page2 The answer is in the affirmative. The District is specifically authorized by statute to provide improvements which benefit the District, whether such improvement are inside or outside the boundaries of the District, and to enter into intergovernmental agreements. Whether the District provides such improvements directly, or does so by contracting with the Town, does not in our view affect the validity or tax-exempt status of the bonds. We know of no reason why tax· restrictions on this use of bond proceeds would differ from tax restrictions generally applicable to other governmental bond issues for capital purposes. The foregoing presumes that the improvements are of the type the District is permitted to provide under the Service Plan and organizational documents, and are of benefit to the District and its residents. As with all bond issues, as a condition of giving our opinion on the bonds, we would need certification as to the use of all proceeds, including these proceeds. Such certification would be requested from the District and possibly from the Town, depending upon the circumstances; however, if the Town enters into an agreement to so apply such proceeds, we would rely upon the Town's promises thereunder unless we had knowledge that other factors called that reliance into question. · I hope this responds to your request. If you have further questions, please feel free to call me. Sincerely, SHERMAN & HOW ARD L.L.C. Blake T. Jordan, Esq. EXHIBITK Part I -Developer Indemnity Letter Part II -District Indemnity Letter PROMINENCE PARTNERS I, LLC Town of Firestone Pqst Office -Box l 00 Firestone, Colotado.80520 October 26, 2006 RE: The Springs: South Metropolitan District Ladies and Gentlemen: This Indemnity Letter (the "Indemnity Letter'') is delivered by the undersigned Prominence Partners I, LLC, a Colorado limited liability company ("Prominence") in order to induce the Town of Firestone (the "Town") to appr.ove the Service Plan, includinjl all amendments. l).eretofore or hereafter made thereto (the "Service Plan") for The Springs· South Metropolitan District (the "District''). In consideration of the Town;s approval of the Service Plan, Prominence, for. and on behalf of itself and its tran.sfe)."eeS, successors and assigns, represents·, warrants, covenants and agrees to and for the· benefit of the. Town as follows: 1. Prominence hereby waives and releases any present or future claims it might·have against the Town or the Town's. elected.or appointed officers, employees, l!gents or contractors in any manner related to .or connected with the Service Plan or any action or omission with respect thereto. Prominence :further hereby agrees to indemnify and ·hold harmless the Town and ·the Town's elected and appointed officers, employees, agents and contractors, from and against any and.all liabilities resulting from any and all claims, demands, suits, actions or other proceedings of whatsoever kind ohiatute rnad~ or brought by any tlrird party, fucluding attorn,eys' fees and expense.s and court costs, wl\icl;i di:J;ectly-or inditeqtlj, or p~orte<lly anse out of or are in aii.y lllaDller·related to or C!>ll!l~ with·aii.y of the following: (a) tli.e Service Plan or any doeuiI!efit or instrument cont;iined or teferred to thei:ein; or (b) the formation. of the District or _any actions. or omissions of Prominence, the District, the Town or any other person or-entity in connection with the District, including, without limitation, any bonds or other financial obligations of the District or any offering documents or other disclosures made in connection therewith. Prominence further agrees to investigate, handle, respond to and to provide defense for and defend· against, or at the Town's option.to pay the attomeys' fees and expenses for counsel of the Town's choice for, any such liabilities, claims, demands, suits,-actions or other ptoce~gs. It is understood and agreed that the Town does not waive or intend. to waive the motietarY limits (presently $150,000 per person and $600,000 per occurrence) or any other rights, immunities or protections provided by the Colorado Governmental Immunity Act, §§ 24-10-101, et seq., C.R._S., as from time to time amended, or otherwise available to the Town, its officers or its employees. PROMlN·ENCE PARIN°BRS I, LLC. • P.O. BOX 870 • FIRESTONE, CO• 80520 • USA PHOttl!: (303) 833-5322 • FAX: (303') 833-5748 • www.Ptt.OM1-NBNCBDE.Vtii.01'M(INT.c~m If) PROMINENCE -2-Oct9p_er 26, 200.6 2. Prominence hereby represents and warrants to the Town that it will be an .accredited investor if and when it acquires any construction financing notes. 3. Prominence believes and represents that the asswnptions, projections and forecasts contained in the District's financial plan (Article V and Exhibit G of the Service Plan) are reasonable. 4. Prominence hereby consents to the Town Disclaimer Statement contained, in Ej<ltibit M to the Service Plan, acknowledges the town's right to modify the Town Disclaimer Statemen\, and wa:i ves and releases the Town from any claims Prominence might have based on or relating to the use Qf .Qr any stilrements· made or to be made in such Town Disclaimer . Starement.(includmg any modifications thereto). 5. It is understood and agreed, and Prominence hereby expressly acknowledges, that the Town, -in acting to approve the Service Plan, has relied upon the provisions of this Indemnity Letter. 6. This Indemnity Le.tter has been duly authorized and executed on behalf of Ptomµience, and Prominence. hereby .represents and:wanaµts that it has taken or. will take any and all action necessaiy Qr .ilppr<;>priate to make this Indemnity Letter binding on any present or future transferees, successor and assigns. Very truly yours, PROMINENCE P ARlNERS I, LLC, a Colorado limited liability company By: Prominence Development Corp., a Colorado Corporation, its Manager Daniel S. Smith, Executive Vice-President PROMINENCE DBVELOPMBNT CORP.• P.O. BOX 870 • FIRESTONE, CO• 80520 • USA 'PHONB: (.303) 833·S3"22 • Fj\.X: (303) Sll-'748 • www.P·ROMINRNCBDll\l!LOPt.18NT.com Town of Firestone Post Office Box 100 Firestone, Colorado 80520 [Date of Organizational Meeting} RE: The Springs South Metropolitan District Ladies and Gentlemen: This Indemnity Letter (the "Indemnity Letter") is delivered by The Springs South Metropolitan District (the "District") in order to comply with the Service Plan, including all amendments heretofore or hereafter made thereto (the "Service Plan") for the District. In consideration of the Town's approval of the Service Plan, the District, for and on behalf of itself and its transferees, successors and assigns, represents, warrants, covenants and agrees to and for the benefit of the Town as follows: 1. The District hereby waives and releases any present or future claims it might have against the Town or the Town's elected or appointed officers, employees, agents or contractors in any manner related to or connected with the Service Plan or any action or omission with · respect thereto. To the fullest extent permitted by law, the District hereby agrees to indemnify and hold harmless the Town and the Town's elected and appointed officers, employees, agents and contractors, from and against any and all liabilities resulting from any and all claims, demands, suits, actions or other proceedings of whatsoever kind or nature made or brought QY any third party, including attorneys' fees and expenses and court costs, which directly or indirectly or purportedly arise out of or are in any manner related to or connected with any of the following: (a) the Service Plan or any document or instrument contained or referred to therein; or (b) the formation of the District or any actions or omissions of the District, the Town, Prominence Partners I, LLC, a Colorado limited liability company ("Prominence"), or any other person or entity in connection with the District, including, without limitation, any bonds or other financial obligations of the District or any offering documents or other disclosures made in connection therewith. The District further agrees to investigate, handle, respond to and to provide defense for and defend against, or at the Town's option to pay the attorneys' fees and expenses for counsel of the Town's choice for, any such liabilities, claims, demands, suits, actions or other proceedings. It is understood and agreed that neither the District nor the Town waives or intends to waive the monetary limits (presently $150,000 per person and $600,000 per occurrence) or any other rights, immunities or protections provided by the Colorado Governmental Immunity Act, §§ 24-10-101, et seq., C.R.S., as from time to time amended, or otherwise available to the Town, the District, or their officers or employees. · 2. The District hereby consents to the Town Disclaimer· Statement contained in Exhibit M to the Service Plan; agrees that the District will include such Town Disclaimer Statement or any modified or substitute Town Disclaimer Statement hereafter furnished by the Town to the District in all offering materials used in connection with any bonds or other financial obligations of the District (or, if no.offering materials are used, the Town Disclaimer Statement will be given by the District to any prospective purchaser, investor or lender in connection with any bonds or other financial obligations of the District); and waives and releases the Town from any claims the District might have based on or relating to the use of or any statements made or to be made in such Town Disclaimer Statement (including any modifications thereto). 3. It is understood and agreed, and the District hereby expressly acknowledges, that the Town, in acting to approve the Service Plan, has relied upon tlie provisions of this Indemnity Letter. 4. This Indemnity Letter has been duly authorized and executed on behalf of the District, and the District hereby represents and warrants that it has taken or will talce any and all action necessary or appropriate to make this Indemnity Letter binding on any present or future transferees, successor and assigns. The Springs South/Service Plan JLO!S28 1024.0003 Very truly yours, THE SPRINGS SOUTH METROPOLITAN . DISTRICT President EXHIBITL Form of District Disclosure Notice THE SPRINGS SOUTH METROPOLITAN DISTRICT WELD COUNTY, COLORADO •••••••••••••••••••••••••••••••••••••••••••••••••••••••••••••••••••••••••••••••••••••••••••••••••••••• DISCLOSURE STA.TEMENT Pursuant to Article XII of the Service Plan of The Springs South Metropolitan District •••••••••••••••••••••••••••••••••••••••••••••••••••••••••••••••••••••••••••••••••••••••••••••••••••••• DISTRICT ORGANIZATION: The Springs South Metropolitan District (the "District"), Weld Cowity, Colorado is a quasi- . municipal corporation and political subdivision of the State of Colorado duly organized and existing as a metropolitan district pursuant to Title 32, Colorado Revised Statutes. The District was declared organized and an existing metropolitan district on ---~ 2006, pursuant to an Order and Decree Organizing District and Issuance . of Certificates of Election for The Springs South Metropolitan District, issued in the District Court of Weld Cowity, Colorado. The Order and Decree was recorded in the records of the Weld Cowity Clerk and Recorder on ____ ~ 2006 at Reception# ____ _ The District is located entirely within the corporate limits of the Town of Firestone, Colorado, in Weld Cowity. The legal description of the property forming the bowidaries of the District is described in Exhibit A. DISTRICT PURPOSE: The Springs South Metropolitan District was organized as a "financing only'' district for the purpose of financing streets, street lighting, traffic and safety controls, water, landscaping, storm sewers and flood and surface drainage, and park and recreation improvements, all in accordance with its Service Plan approved by the Board of Trustees of the Town of Firestot;te. When completed, improvements shall be dedicated to the Town of Firestone or other governmental entities, all for the use and benefit of residents and taxpayers, or operated and maintained by contract with an owners' Association formed for the Vogl South development The District's Service Plan is on file and available for review at the office of the District's general counsel, White, Bear and Ankele Professional Corporation, 1805 Shea Center Drive, Suite 100, Highlands Ranch, Colorado 80129, and at the office of the Town Clerk, Town of Firestone, 151 Grant Avenue, Firestone, Colorado 80520. TAX LEVY INFORMATION: The primary· source of revenue for the District is ad valorem property taxes. Property truces are determined annually by the District's Board of Directors and set by the Board of Cowity Commissioners for Weld Cowity as to rate or levy based upon the assessed valuation of the property within the District. The levy is expressed in terms of mills. A mill is 1/1,000 of the assessed valuation, and a levy of one mill equals $1 of tax for each $1,_000 of assessed value. The financial forecast for the District (as set forth in its Service Plan) assumes that the_ District will be able to set its tax levy at approximately forty-five (45.000) mills (or less) for 2007 through 2039 for debt service and administration purposes. Except for certain adjustments permitted by the Service Plan to compensate for legally required changes in valuation ratios, the District shall not impose a debt service mill levy in excess of fifty (50.000) mills and shall not impose a mill levy for administration, warranty maintenance and other operating expenses in excess of six (6.000) mills. District taxes are collected as part of the property tax bill from Weld County. STATE OF COLORADO COUNTY OF WELD THE SPRINGS SOUTH METROPOLITAN DISTRICT President ) ) ss. ) The foregoing instrument was acknowledged before me this __ day of ____ _ 200_. by ____________ as President of The Springs South Metropolitan District. WITNESS my hand and official seal. My commission expires: Notary Public The Springs South\Scrvicc Plan JL01532 1024.0003 EXlllBIT A (Legal Description of District) • Legal Description for · Vogl Land-South Parcel A parcel of land being the Northwest quarter of Section 8; except the North 871.2 feet of the East 500 feet, the South 1904.4 feet of the West 719.75 feet and the North 755 feet of the West 380 feet, Township 2 North, Range 67 West of the 6th P.M., County of Weld, . State of Colorado. · Commencing at the Northwest comer of said Section 8 whence the Southwest comer of said Northwest quarter bears South 00°00'00" East 2659.469 feet, said line forming the basis of bearings for this description; thence along the North line of said Northwest quarter, North 89°09'38" East 380.04 feet to the true point of beginning; Thence continuing North 89°09'38" East I 808.95 feet; thence along a line 500.02 feet Westerly from and parallel with the East line of said Northwest quarter, South 00°23 '23" East 871 .23 feet; thence along a line 871.2 feet Southerly from and parallel with the North line of said Northwest quarter, North 89°09'38" East 500.02 feet to a point in the East line of said Northwest quarter; thence South 00°23'23" East 1789.35 feet to the Southeast comer of said Northwest quarter; thence along the South line of said Northwest quarter, South 89°11'19" West 1987.26 feet; thence along a line 719.75 feet Easterly from and parallel with the West line of said Northwest quarter, North 00°00'00" East 1888.20 feet; thence North 88°59'00" West 339.80 feet; thence along a line 380.0 feet Easterly from and parallel with the West line of the Northwest quarter, North 00°00'00" East 760.60 feet to the true point of beginning. The north 30.00' of said parcel is excepted from this parcel due to an exception recorded October 14, 1889 in Book 86 at Page 273. The parcel of land (after the exception has been deducted) contains 115.53 acres. EXHIBITM Form of Town Disclaimer Statement TOWN OF FIRESTONE, COLORADO-DISCLAIMER STATEMENT As a requirement imposed in its formation process, The Springs South Metropolitan District (the "District") is obligated to the Town of Firestone (the "Town") to include this disclaimer statement in all offering materials used in connection with any bonds or other financial obligations of the District ( or, if no offering materials are used, to give this disclaimer statement to any prospective purchaser, investor or lender in connection with any such bonds or other financial obligations of the District). The date of this disclaimer statement is ___________ .. [Insert date of offering materials or date disclaimer statement is otherwise delivered, unless Town directs a different date]. The Town has not reviewed or participated in the preparation of any offering materials or any other disclosure documentation relating to any bonds or financial obligations of the District or any other materials to which this Disclaimer Statement is appended. Other than this Disclaimer Statement, no statement of any kind is authorized to be made by or on behalf of the Town in any offering materials or any other disclosure documentation relating to any bonds or other financial obligations of the District. The Town and the District are separate legal entities. The Town is not a party to and is not obligated with respect to any borrowings, financings, bonds or other financial obligations of the District. As a statutory requirement for the formation of the District, the Town approved a Service Plan containing financial and other information furnished by the District's organizers. The Town's approval of the Service Plan: was based upon such information furnished by the District's organizers, without independent investigation by the Town. The District's Service Plan was prepared in 2006 and not in connection with the offering of any bonds or other financial obligations. The Town's approval of the District's Service Plan should not be relied upon by prospective purchasers, bondholders, investors or lenders in evaluating the investment quality of the District's bonds or other financial obligations .. The Service Plan and related agreements do not impose upon the Town any duties to, nor confer any rights against the Town upon, any purchasers, investors, lenders, bondholders or other third parties. By purchasing or otherwise accepting any bond or other financial obligation of the District, the owner, holder, investor or lender waives and releases any then existing or future claim against the Town or the Town's elected or appointed officers, employees, agents or contractors in any manner related to or connected with. the District or its Service Plan or any action or omission with respect thereto. EXHIBITN Form of Intergovernmental Agreement between District and Town INTERGOVERNMENTAL AGREEMENT BY AND BETWEEN TIIE TOWN OF FIRESTONE, COLORADO AND THE SPRINGS SOUTH METROPOLITAN DISTRICT This INTERGOVERNMENTAL AGREEMENT (the "Agreement'') is entered into this __ day of . 200_, by and between the TOWN OF FIRESTONE, COLORADO, a municipal corporation of the State of Colorado (the "Town"), and TIIE SPRINGS SOUTH METROPOLITAN DISTRICT, a quasi-municipal corporation and political subdivision of the State of Colorado (the "District"), collectively referred to herein as the "Parties". RECITALS WHEREAS, the District was organized to finance certain public improvements, all as are more specifically set forth in the District's Service Plan, dated ____ .. 2006, and approved by the Town on _____ .., 2006, by Resolution No. 06-_ (the "Service Plan"); and WHEREAS, the Service Plan makes reference to and requires the execution of an intergovernmental agreement between the Town and the District; and WHEREAS, the Town and the District have determined it to be in the best interests of their respective taxpayers, residents and property owners to enter into this Agreement; NOW, THEREFORE, for and in consideration of the covenants and mutual agreements herein contained, and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the Parties hereto agree as follows: COVENANTS AND AGREEMENTS I. APPLICATION OF LOCAL LAWS. The District hereby acknowledges that the property within its boundaries shall be subject to all ordinances, rules and regulations of the Town, including without limitation, ordinances, rules and regulations relating to zoning, subdividing, building and land use, and to all related Town land use policies, master plans, related plans and intergovernmental agreements. 2. NATURE OF DISTRICT. The District agrees that it is organized for the purpose of financing certain public improvements for the area within its boundaries only ( except to the extent otherwise specifically provided in Article V .c of the Service Plan), which area is designated as the proposed Vogl South development, and that the District's purposes, powers, facilities, functions and activities are to be limited and governed by the Service Plan. The District shall fully comply with all provisions, requirements, restrictions and limitations of the Service Plan. The District is not intended to and shall not provide facilities or service outside its boundaries ( except as otherwise specifically provided in Article V .c of the Service Plan). Further, the District is not intended to and shall not exist perpetually, but instead shall be dissolved in accordance with the Service Plan and this Agreement. The District shall not provide any services or facilities within any area of the District overlapping with the service area of another district without first obtaining the written consent of each and every district whose service area is so overlapped. 3. CHANGE IN BOUNDARJES. The District agrees that, as set forth in the Service Plan, inclusion of properties within, or any exclusion of properties from, its boundaries shall constitute a material modification of the Service Plan; any purported inclusion or exclusion that has not been approved by the Town pursuant to the procedures applicable to a material modification of the Service Plan shall be void and of no effect. 4. TOWN APPROVAL REQUIREMENTS: REVIEW OF DISTRICT SUBMITTALS. The District agrees that any Town approval requirements contained in the Service Plan (including, without limitation, any Service Plan provisions requiring that any change, request, action, event or occurrence be treated as a Service Plan amendment proposal or be deemed a "material modification" of the Service Plan) shall remain in full force and effect, and such Town approval shall continue to be required, notwithstanding any future change in law modifying or repealing any statutory provision concerning service plans, amendments thereof or modifications thereto. The District agrees to reimburse the Town for all reasonable administrative and consultant costs incurred by the Town for any Town review of reports, plans, submittals, proposed modifications or requests for administrative approvals, or other materials or requests provided to-the Town by the District pursuant to the Service Plan, this Agreement, state law or the Firestone Municipal Code. The Town may require a deposit of such estimated costs. 5. OWNERSHIP OF IMPROVEMENTS: LIMITED FUNCTIONS. The Parties agree that the District shall be a "financing only" district and shall not be permitted to undertake ownership, operation or maintenance of any public improvements, facilities or services, except as specifically set forth in the Service Plan. All functions, activities, improvements, services ani:I programs of the District are limited .to those expressly authorized in the Service Plan, notwithstanding any different, additional or expanded powers or authority that may be granted to the District by any present or future statutory or regulatory provisions. 6. ALLOCATION OF FINANCING PROCEEDS. The Parties agree, and the Town's approval of the Service Plan is expressly conditioned upon the requirement, that a total of $750,533 will be allocated from the District's net bond financing proceeds to the Town's capital improvements fund, which proceeds shall be paid to the Town at the time bonds are issued as provided for in the Service Plan. Such allocations shall be made as set forth in Article V.c of the Service Plan, which Article is incorporated herein by reference as though set forth in full. Such allocations will be used by the Town to finance capital improvements (either within 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, traffic safety controls, street lighting, water, storm drainage, park and recreation or landscaping improvements and facilities, which improvements shall be of benefit to the Town and the District and shall be specifically identified in an amendment to this Agreement which amendment shall be fully executed prior to the issuance of any District bonds. The District acknowledges and agrees that the provisions of this Agreement and the provisions of the Service Plan for concurrent 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 the District's Service Plan, and that the Town has relied thereon· in approving the District's Service Plan. Therefore, the District agrees that it shall include in and make available from ·the District's bond financing proceeds such $750,533 to be paid to the Town's capital improvements fund. The District further agrees that it shall not issue bonds without concurrently allocating and delivering to the Town the funds required by Article V.c of the Service Plan. The District further agrees that such delivery of bond proceeds to the Town shall be a condition of closing for the District's bonds. The District specifically agrees that the provisions of this Agreement and of the Service Plan for such concurrent allocation of bond proceeds to the Town shall run in favor of and shall be enforceable by the Town. The District represents and warrants that it has obtained all voter authorizations necessary to implement such provisions of this Agreement and the Service Plan, and that it will exercise its powers in accordance with and in furtherance of such provisions. · 7. CONSOLIDATION. The District shall not file a request with the District Court to consolidate with another district without the prior written approval of the Town. 8. DISSOLUTION. The District agrees that it shall take all action necessary to dissolve the District upon payment or defeasance of the District's bonds or otherwise upon the request of the Town, all as provided in the Service Plan. If prior to the issuance of any bonds or the incurrence of any financial obligations by the District, the District wishes to dissolve in accordance with applicable law, the Town shall consent to such dissolution. 9. NOTICE OF MEETINGS. The District agrees that it shall submit a copy of the written notice of every regular or special meeting and work session of the District's Board of Directors to the Office of the Firestone Town Administrator, by mail, facsimile or hand delivery, to be received at least three (3) days prior to such meeting. The District agrees that it shall also submit a complete copy of meeting packet materials for any such meeting to the Office of the Firestone Town Administrator, by mail, facsimile or hand delivery, to be received at least one (1) day prior to such meeting. 10. ANNUAL REPORT: OTHER INFORMATION. The District shail be responsible for submitting to the Town an. annual report pursuant to and as set forth in Article VII of the Service Plan. 11. ENTIRE AGREEMENT OF THE PARTIES. This written Agreement, together with the Service Plan, constitutes the entire agreement between the Parties and supersedes all prior written or oral agreements, negotiations, or representations and understandings of the Parties with respecHo the subject matter contained herein. 12. AMENDMENT. This Agreement may be amended, modified, changed or terminated in whole or in part only by a written agreement duly authorized and executed by the Parties hereto and without amendment to the Service Plan. 13. ENFORCEMENT. The Parties agree that this Agreement may be enforced in law or in equity for specific performance, injunctive or other appropriate relief, including damages, as may be available according to the laws and statutes of the State of Colorado. 14. VENUE. Venue for the trial of any action arising out of any dispute hereunder shall be in Weld County District Court. 15. BENEFICIARIBS. Except as otherwise stated herein, this Agreement is intended to describe the rights and responsibilities of and between the named parties and is not intended to, and shall not be deemed to, confer any rights upon any persons or entities not named as parties. 16. EFFECT OF INVALIDITY. If any portion of this Agreement is held invalid or unenforceable for any reason by a court of competent jurisdiction as to either.party or as to both Parties, such portion shall be deemed severable and its invalidity or its unenforceability shall not cause the entire agreement to be terminated. Further, with respect to any portion so held invalid or unenforceable, the District and Town agree to take such actions as may be necessary to achieve to the greatest degree possible the intent of the affected portion. 17. ASSIGNABILITY. Other than as specifically provided for in this Agreement, neither the Town nor the District shall assign their rights or delegate their duties hereunder without the prior written consent of the other Parties. 18. SUCCESSORS AND ASSIGNS. Subject to Paragraph 17 hereof, this Agreement and the rights and obligations created hereby shall be binding upon and inure to the benefit of the Parties hereto and _their respective successors and assigns. [Remainder of page intentionally left blank/. ATTEST: By: Secretary ATTEST: By: Its: The Springs South\.Servicc Plan JL00910 1024.0003 THE SPRINGS SOUTH METROPOLITAN DISTRICT By: President TOWN OF FIRESTONE By: Its: EXHIBITO Resolution of Board of Trustees Approving Service Plan RESOLUTION NO. Ofo--'/1 A RESOLUTION APPROVING SPECIAL USE PERMITS FOR KERR-MCGEE ROCKY MOUNTAIN CORPORATION TO LOCATE THREE OIL AND GAS WELLS WITHIN THE TOWN OF FIRESTONE. WHEREAS, Kerr-McGee Rocky Mountain Corporation (hereinafter "Kerr-McGee" or "Applicant") has submitted to the Board of Trustees of the Town of Firestone an application for special use permits to locate within the Town three oil and gas wells referred to as the proposed Junction 11-2, 12-2, and 22-2 Wells; and WHEREAS, Kerr-McGee has submitted the application and supporting materials pursuant to Chapter 15.48 of the Firestone Municipal Code; and WHEREAS, all materials related to the proposed special use permits have been reviewed by Town Staff and found with conditions to be in compliance with Town of Firestone subdivision, zoning, and oil & gas ordinances, Development Regulations, and related Town ordinances, regulations, and policies; and WHEREAS, the Firestone Planning and Zoning Commission on October 18, 2006 held a properly noticed public hearing on the proposed special use application, and has forwarded to the Board of Trustees a recommendation of approval with conditions; and WHEREAS, after a duly-noticed public hearing, at which evidence and testimony were entered into the record, the Board of Trustees finds the special use request for the Junction 11-2, 12- 2, and 22-2 Wells should be approved subject to certain conditions. NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF TRUSTEES OF THE TOWN OF FIRESTONE, COLORADO: Section ] The Board of Trustees hereby approves the special use permit request of Kerr- McGee Rocky Mountain Corporation for location of the Junction 11-2, 12-2, and 22-2 Wells within the Town of Firestone, in the locations more particularly described in Exhibit A attached hereto, subject to the following conditions: I. The production facilities, as developed or modified, shall be of a low profile style, with a maximum height not to exceed twelve (12) feet. 2. The Town's special use approval shall expire on the date of expiration of the Oil and Gas Conservation Commission Permit to drill the well or one year from the date of Town approval, whichever is later, if operations for the well are not commenced by such date. In the event special use approval expires, the Applicant shall apply for a new special use permit pursuant to Chapter 15.48 of the Firestone Town Code. 3. Oil and gas operations shall be conducted in compliance with all federal, state, and local laws, rules and regulations, including but not limited to the Colorado Oil and Gas Conservation Commission permit for such well and the final special use permit application materials approved by the Town Board, which materials will be incorporated therein by reference. Applicant shall provide to the Town copies of all state approved permits, waivers, variances and subsequent notices filed with the state and affecting the well. 4. Prior to entering the site, Applicant shall obtain from the Town necessary building permits and notices to proceed. S. Prior to moving the drilling rig onto the well site, Applicant shall obtain from the Town and Weld County necessary permits to move the drilling rig equipment within the Town and County. 6. Applicant shall provide to the Town copies of any executed surface damage agreements or memoranda thereof respecting operation of the well. 7. In the exercise of its rights pursuant to this special use approval, Applicant shall avoid any damage or interference with any Town installations, structures, utilities, or improvements. Applicant shall be responsible for all damages to such interests of the Town that are caused by the Applicant. 8. Applicant at its sole expense shall control fugitive dust at the well site and on access roads on an as-needed basis. Methods and chemicals used for dust control shall comply with Town ordinances and regulations. 9. The oil/gas well facilities shall utilize setbacks as specified in the Colorado Oil and Gas Conservation Commission Rules and Regulations or the Firestone Town Code, whichever is more restrictive. The well site and tank battery and separator areas shall be secured and screened by chain link fencing with "solid" tan aluminum or vinyl lathing. 10. Water sources for drilling activities shall be from the Town of Firestone, if a water tap is utilized. 11. Machinery at the site shall be well-oiled and well-maintained to mitigate noise. 12. To the extent reasonably possible, orient the drill rig and associated motors and exhaust systems such that they point away from existing hotel in the vicinity. 2 13. Drill rigs shall, to the extent reasonably possible, be equipped with higher quality noise reducing mufflers. 14. During drilling, use a tarp around drilling floor and drawworks to muffle sound. 15. Deliveries and construction traffic to and from the site shall, whenever possible, be scheduled during daylight hours. 16. To the extent reasonably possible, keep the door to the drill rig engine closed. 17. Revise plans to conform to redline comments of the Town Engineer. 18. The use of pump jacks shall be limited to those running on electric motors. 19. The drilling rig used for drilling operations shall be Model CAZA-54 or equivalent type of drill rig. 20. Pursuant to Section 15.48.040.C.4 and 6 of the Firestone Municipal Code, provide evidence that the proposed emergency response plan and fire protection plan are acceptable to the appropriate fire district. PASSED AND ADOPTED this Zb'-11-day of Q c--fu&v , 2006. IM!w'2006 2:49 PM(sjl) S:\f"ll'C5lOOC~arMcGcc Junctior(3 wdls).Board,rcs.doc • mrC-'-- Michael P. Simone, Mayor EXHIBIT A: Well Locations The approximate location of the proposed Junction 11-2, Junction 12-2 and Junction 22-2 wells are northeast of the intersection of Interstate 25 and Firestone Boulevard (Hwy 119) within the Del Camino Junction Business Park P.U.D. The legal description for the location of the wells is as follows: NW/4SW/4 of Section 2, Township 2 North, Range 68 West, 6tll P.M. (surface location); Junction 11-2 bottom hole location NE/4SW/4 of Section 2, Township 2 North, Range 68 West, 6tll P.M.; Junction 12-2 bottom hole location NW/4SW/4 of Section 2, Township 2 North, Range 68 West, 6tll P.M.; Junction 22-2 bottom hole location SE/4NW/4 of Section 2, Township 2 tJ, North, Range 68 West, 6 P.M. ' ' 4 RESOLUTION NO. O(e-'-ff A RESOLUTION APPROVING A FINAL PLAT AND FINAL DEVELOPMENT PLAN FOR VALUE PLACE HOTEL WHEREAS, there has been submitted to the Board of Trustees of the Town of Firestone a request for approval of a final plat for the Del Camino Junction Business Park Third Minor Plat and a final development plan for Value Place Hotel, to be located on Lot 6 of the Del Camino Junction Business Park Third Minor Plat; and WHEREAS, all materials related to the proposed final plat and final development plan have been reviewed by Town Staff and the Firestone Planning and Zoning Commission and found with conditions to be in compliance with Town of Firestone subdivision and zoning ordinances, Development Regulations, and related Town ordinances, regulations, and policies; and · WHEREAS, the Firestone Planning and Zoning Commission has held a properly noticed public hearing on the application, and has forwarded to the Board of Trustees a recommendation of approval, with conditions; and WHEREAS, the Board of Trustees has duly considered the proposed final plat and final development plan and has held a properly noticed public hearing on the application; and WHEREAS, the Board of Trustees finds that the proposed final plat and final development plan should be approved subject to certain conditions. NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF TRUSTEES OF THE TOWN OF FIRESTONE, COLORADO: Section J. The Board of Trustees of the Town of Firestone does hereby approve the proposed final plat for the Del Camino Junction Business Park Third Minor Plat and the proposed final development plan for the Value Place Hotel to be located on Lot 6 of the Del Camino Junction Business Park Third Minor Plat, subject to the conditions set forth on Exhibit A attached hereto and incorporated herein by reference. i--f" I I_ INTRODUCED, READ AND ADOPTED this L day of Ocro .l'.U. Y-, 2006. Mayor General EXIIlBIT A Subdivision and Final Development Plan Conditions of Approval Value Place Hotel I. Execute a Subdivision Agreement as prepared by the Town Attorney. 2. Modify the applications pursuant to redline comments from the Town Engineer, Town Planner and Town Attorney. 3. Confirm inclusion into the Frederick-Firestone Fire Protection District. 4. Remove the word "proposed" ( e.g., Address section) in the FOP so that it reads as a final document. 5. Colors for all exterior elevations shall be limited to those presented at the Town Board public hearing. 6. Exterior materials and finishes shall be limited to those set forth on the materials board presented at the Town Board hearing. 7. Provide a complete and updated title commitment with the mylars. FDP 8. Provide total building square feet. 9. In the Land Use section, confirm that residential and condominium use of the property is prohibited, including without limitation any conversion to residential condominium and any rentals that do not qualify as lodging rentals under chapter 3. IO of the Town Code. 10. Complete missing information in the Water Dedication section, showing total water dedication requirement as directed by the Town Engineer. 11. Clarify that tractor-trailer commercial trucks will not be permitted to park in the parking lot and provide signage to so note. 12. In the Setbacks section, also note that setbacks are shown in the Site Summary Table on Sheet I. 13. Increase the access drive width to a distance specified by the Town Engineer. 14. Modify landscape plan to show additional landscaping as presented at the Town Board public hearing. 15. Site lighting detail shall be compatible with the development just to the west. A revised site lighting plan consistent with the foregoing shall be submitted for review and approval by the Town Planner. 16. Revise the Environmental Mitigation block on Sheet 6 to indicate that the Phase I Environmental Site Assessment did not identify any conditions requiring further investigation or remediation. 17. The Third Minor Plat shows a 20-foot Utility and Drainage Easement along the west lot line of the property. Show this easement on Sheet 7. 18. Identify the "utility easement to be recorded via separate document" referenced in Note 1 on Sheet 8. 19. Text for electronic message board shall be limited to information concerning on-premises activities and operations of this hotel facility, such as room rates, on-site meetings and similar information. Plat 20. Revise Town Approval block to reference the resolution number of Town Board approval. 21. Include lenders' consent blocks, in a form approved by the Town Attorney, for all lien holders. 22. Delete the title information from the bottom of the sheet, as this information appears in the title block. Additional Conditions 23. Modify irrigation plan as presented at the Town Board public hearing. 24. Add stone or brick to front exterior on the three panels, so that the building is more compatible with surrounding buildings. The material used shall be as presented on the material board submitted at the Town Board public hearing. 25. If the building does not receive a certificate of occupancy within three years, the FDP approval shall lapse and must be resubmitted. 26. Provide detail for HV AC units that is consistent with information presented at Town Board public hearing. 27. Add low profile ornamental shrubs and perennial landscaping along Business Park Circle. 28. Revise trash enclosure to show a gate of some material other than wood. 29. Relocate trees further away from curb. 30. Add utility providers to FOP. 31. Label elevations north, south, east and west. 32. Provide black nylon awning over each entrance door. 33. Eliminate one-shutter detail for windows on north and south elevations. 34. Limit pole height to lesser of 60 feet or the minimum height necessary for an unobstructed v.iew of the sign from I-25, as determined by the Town Administrator. 35. Add an approximately three-foot high band of brick along base of remaining portions of front elevation that do not have brick. Brick material shall be that presented at the Town Board public hearing. ICV2711JXl69:06AM{sjl]S:\Facstonc\5utx!Msiom\VcluePlaoeHold.FDP.TB.~doc(Fu:ml) RESOLUTION NO. 0 b-4 q A RESOLUTION APPROVING AN INTERGOVERNMENTAL AGREEMENT BETWEEN THE ST A TE OF COLORADO, COUNTY OF WELD, TOWN OF MEAD AND THE TOWN OF FIRESTONE REGARDING THE ELIMINATION OF A PORTION OF THE 1-25 FRONTAGE ROAD BETWEEN SH 119 AND SH 66. WHEREAS, the State of Colorado, for the use and the benefit of the Department of Transportation (COOT) has proposed to widen Interstate 25 between SH 119 and SH 66, which will necessitate the elimination of a portion of the east frontage road; and WHEREAS, it is the intent of COOT, Weld County, Town of Mead and the Town of Firestone for COOT to transfer the remaining portion of the frontage road from M.P. 241.33 to the northern right-of-way line to Weld County and the Town of Firestone; and WHEREAS, COOT will transfer $3.7 million to Weld County and the Town of Mead for the purpose of constructing Weld County Road 9 ½, and reestablishing the access to the frontage road; and WHEREAS, it is the intent of the Town of Firestone to participate with COOT, Weld County and the Town of Mead in the elimination of a portion of the 1-25 Frontage Road, as more fully described in the Intergovernmental Agreement; and WHEREAS, the Town is authorized to enter into such Agreement and finds that such Agreement is in the best interests of the Town and its citizens .• NOW THEREFORE, BE IT RESOLVED BY THE BOARD OF TRUSTEES OF THE TOWN OF FIRESTONE, COLORADO: Section ] . The proposed Intergovernmental Agreement between the State of Colorado for the use and benefit· of the Department of Transportation, the County of Weld, the Town of Mead, and the Town of Firestone to eliminate a portion of the 1-25 Frontage Road between SH 119 and SH 66 is hereby approved in essentially the same form as the copy of such Agreement accompanying this resolution. Section 2 The Mayor is hereby authorized to execute the Agreement on behalf of the Town, and is further authorized to negotiate and approve on behalf of the Town such revisions to the Agreement as the Mayor determines are necessary or desirable for the protection of the Town, so long as the essential terms and conditions of the Agreement are not altered. . .JI,.. INTRODUCED, READ, and ADOPTED this rd.L day of O d-o bar , 2006. ATTEST: JM3f2006 4: IS PM(dnl] S:\Fin:stonc\R.molution\CDOT !GA 1-2S Ff"OIIUl8e Rood.doc TOWN OF FIRESTONE, COLORADO Michael P. Simone Mayor RESOLUTION NO. Ofo-50 A RESOLUTION APPROVING A FINAL DEVELOPMENT PLAN FOR THE CARBON VALLEY REGIONAL LIBRARY WHEREAS, there has been submitted to the Board of Trustees of the Town of Firestone a request for approval of a final development plan for the Carbon Valley Regional Library, to be located on Lot I of the Final Plat, Firestone Central Park First Filing Minor Subdivision; and WHEREAS, all materials related to the proposed final development plan have been reviewed by Town Staff and the Firestone Planning and Zoning Commission and found with conditions to be in compliance with Town of Firestone subdivision and zoning ordinances, Development Regulations, and related Town ordinances, regulations, and policies; and WHEREAS, the Firestone Planning and Zoning Commission has held a properly noticed public hearing on the application, and has forwarded to the Board of Trustees a recommendation of approval, with conditions; and · WHEREAS, the Board of Trustees has duly considered the proposed final development plan and has held a properly noticed public hearing on the application; and WHEREAS, the Board of Trustees finds that the proposed final development plan should be approved subject to certain conditions. NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF TRUSTEES OF THE TOWN OF FIRESTONE, COLORADO: Section ] . The Board of Trustees of the Town of Firestone does hereby approve the proposed final development plan for the Carbon Valley Regional Library to be located on Lot I of the Final Plat, Firestone Central Park First Filing Minor Subdivision, subject to the conditions set forth on Exhibit A attached hereto and incorporated herein by reference. INTRODUCED, READ AND ADOPTED this qcµ,day of f\OWh<lli [ , 2006. TOWN OF FIRE4 NE, COLORADO bfl/4--- ATTEST: ~~~ofrJi own Clerk 11/6/200612:JI PM (sjl) S:\F"ircstonc\Subdivisions\Libnuy.FDP.TB.re:s(PC redline).doc General EXHIBIT A Final Development Plan Conditions of Approval Carbon Valley Regional Library I. Modify documents pursuant to comments from the Town Engineer (pursuant to the attached memo dated October 25, 2006) and Town Attorney. 2. · Remove the Final Plat sheets from the final mylar submittal. Final Development Plan General 3. Increase the font size pursuant to Section 2.10 F. of the Regulations. 4. Add a Firestone Information Block to all sheets pursuant to Section 2.10 B. of the Regulations. 5. When showing the external boundary of Lot 1, show the bearing and distances (or at least the distances) along the exterior. 6. Place north arrows and scales on each map sheet. 7. Remove the sidewalk from Lot I. 8. Provide a Water Demand Calculations section as required by Section 10.5.16 of the Regulations and as directed by the Town Engineer in the noted October 25, 2006 memo. 9. Confirm that the plot files for the map sheets are correct. Assure that title blocks, existing topography, proposed spot elevations, etc., are not faded to the point that they are illegible. I 0. Modify the appropriate map sheet to address the fact that there are three light fixtures on the lighting plan that conflict with potable water facilities. Two fixtures are too close to proposed waterlines and the other is on top of the proposed water meter. Either the lights or the water facilities need to be moved. 11. The curb returns at the two access points need to include the handicapped ramps. 12. Revegetation shown on the landscape plan is limited to the site. The grading plan extends beyond the limits of the property. Revise both the grading plan and the landscape plan to make clear that all disturbed areas are to be reseeded. The "offsite" disturbances need to be reseeded and mulched. A seed mix, method of seeding, and mechanically crimped straw mulch applied at 2 tons per acre needs to be noted on these sheets. 13. Label Park Avenue on all sheets that show the street right-of-way lines. 14. The lighting plan should detail any security lighting included on the building. 15. Add a note to the FOP text that describes cooperation with the Town in the future to provide one or more trail connections to the planned public square to the south and to the sidewalk along Park A venue. 16. Work with Town Staff to develop an installation and management plan for the native seed areas. Sheet 1 r egal Description 17. Remove "Exhibit A," as such reference does not relate to this FOP. 18. Show the title "Legal Description" in bold font. Vicinity Map 19. Modify the Vicinity Map to reflect only Lot I and add a north arrow and scale. Project Concept 20. Replace "Master Plan" with "Preliminary Development Plan". 21. After the word "square" add "as shown". Building Design 22. Add a period after "will allow" in the second sentence, then capitalize the next word to start a new sentence. Site Design 23. Replace "from a new interim road developed by the Town of Firestone" with "from Park Avenue, which is being constructed by the Town." 24. In the second paragraph, move and combine the drainage information with the information in the Drainage section below. I !tilities 25. Complete the sentence at the end of the first paragraph that is cu_t off. 26. Modify the Utilities section title to the "Utilities and Services" section. Clarify in a table format as shown below: Utilities Water Town of Firestone • Sanitary Sewer Electrical St. Vrain Sanitation District United Power Gas Services Police Fire Kinder Morgan Town of Firestone Frederick Firestone Fire Protection District 27. Move the second and third paragraphs and combine them with the Drainage section. T .aodscape Design 28 .. In the second sentence, replace "our" with "the" and add "this FOP" after "intention". 29. In the next to last sentence of the first paragraph, replace "we" with "the FOP". Project Directory 30. Remove the duplications of the Clients and Architects. Also, replace "Client" with "Owner/Developer." 31. Add the Civil Engineer and Surveyor information. 32. Adjust the formatting of the text columns. Site Piao Approval Black 33. Remove "Site Plan" from the title. 34. In the first sentence, capitalize "Trustee" and :•colcirado." 35. Adjust the formatting of the Attestation section. Site Piao Acceptance Black 36. Remove "Site Plan" from the title. 37. In the first sentence, change "PDP" to "FOP". 38. Adjust the formatting of the Notary block. Sheet Iodex 39. Remove the Final Plat sheets from the index. Sheet 2: Site Plan 40. Show the Park Avenue right-of-way line. 41. Show metes and bounds legal description. 42. Identify the scale and include a north arrow. 43. The final plat for Firestone Central Park First Filing Minor Subdivision identifies gas lines crossing the western and southeastern portions of this Lot I. Show these lines and any related easements, note reception numbers as applicable, and indicate whether the lines are to be relocated or to remain. 44. Identify the location of street lights, mailbox, book drop, and trash disposal area. Sheet 3: Lighting Plan 45. Show specific details for site lighting, including height, color and manufacturer, which details shall be submitted to the Town Planner for review and approval. Sheet 9: Landscape Plan 46. Show where the irrigation system will connect to the public system. 47. -Add Patio detail to the FOP. 48. Confirm that the windward side of the building is the proper location for the English Oak trees. 49. Consider additional landscaping in the parking lot medians and along the east side of Lot I outside of the right-of-way. · 50. In the Irrigation Notes, remove the repetitive information that is already stated on Sheet I. Sheet 12: Details 5 I. Provide a detail of the flagpole noted on Sheet 9. 52. Provide a detail of the bike rack shown on Sheet 9. 53. Provide a detail of the mailbox shown on Sheet 9. Additional Conditions 54. Add a note that the color of each door shall match the color of the wall where the door is located. 55. Consider incorporating flower beds into the landscape plan. 56. Write out acronym "LEEDS" on Sheet I. 57: Expand narrative regarding exterior of building. 58. Work with Town staff to address sidewalk on east side of the building. 59. Add crosswalk and stop sign for book drop. 60. Add all sidewalks from landscape plan to the site plan. 61. Confirm on photometric plan there will be no drift off site. 62. Provide additional landscaping, including evergreens, and coordinate with staff to provide additional landscaping along Park Avenue. 63. Review planting spacing for deciduous trees. 64. Consider darker, warmer exterior colors that more resemble the 3-dimensional exhibit. 65. Add parking lot arrows to pavement design. 66. Widen the access off Park Avenue to a width as directed by the Town Engineer. 67. Consider adding an outdoor area for storytime. RESOLUTION NO. 06-5 / A RESOLUTION CONCERNING A PETITION FOR THE ANNEXATION OF PROPERTY TO THE TOWN OF FIRESTONE, COLORADO, KNOWN AS THE KUGEL SECOND ANNEXATION TO THE TOWN OF FIRESTONE, AND FINDING THE AREA PROPOSED TO BE ANNEXED ELIGIBLE FOR ANNEXATION. WHEREAS, a petition for annexation of property described in Exhibit A attached hereto, to be known as the Kugel Second Annexation, has been filed with the Board ofTrustees of the Town of Firestone; and WHEREAS, pursuant to state law, the Town Board has held a hearing and desires to adopt by Resolution its findings in regard to the petition and eligibility for annexation. NOW, THEREFORE, BE IT RESOLVED BY THE TOWN BOARD OF THE TOWN OF FIRESTONE, COLORADO: Section 1. The Town Board finds and concludes that: I. It is desirable and necessary that the territory described in Exhibit A attached hereto and incorporated herein be annexed to the Town of Firestone. 2. The requirements ofC.R.S.§§31-12-104 and 31-12-105, as amended, exist or have been met, including: a. Not less than one-sixth of the perimeter of the area proposed to be annexed is • contiguous with the Town of Firestone. b. A community of interest exists between the area proposed to be annexed and the Town of Firestone. c. The area proposed to be annexed is urban or will be urbanized in the near future. d. The area proposed to be annexed is integrated with or is capable of being integrated with the Town of Firestone. e. No land within the boundary of the territory proposed to be annexed which is held in identical ownership, whether consisting of one tract or parcel of real estate or two or more contiguous tracts or parcels of real estate, has been divided into separate parts or parcels without the written consent of the I landowner or landowners thereof, unless such tracts or parcels were separated by a dedicated street, road, or other public way. f. No land within the boundary of the area proposed to be annexed which is held in identical ownership, whether consisting of one tract or parcel of real estate or two or more contiguous tracts or parcels of real estate, comprising twenty acres or more, and which, together with the buildings and improvemel)ts situated thereon, has an assessed value in excess of two hundred thousand dollars ($200,000.00) for ad valorem tax purposes for the year next preceding the annexation, has been included within the area proposed to be annexed without the written consent of the landowners. g. No annexation proceedings have been commenced for any portion of the territory proposed to be annexed for the annexation of such territory to another municipality. h. The annexation of the territory proposed to be annexed will not result in the detachment of area from any school district. 1. The annexation of the territory proposed to be annexed will not have the effect of extending the boundary of the Town of Firestone more than three miles in any direction from any point of the boundary of the Town of Firestone in any one year. J. The territory proposed to be annexed is comprised of2. l 4 acres, more or less. k. A plan is in place, pursuant to C.R.S. § 3 J-12-105(l)(e). I. Any portion of a platted street or alley to be annexed will result in the entire width of the street or alley having been included within and made a part of the Town of Firestone and reasonable access will not be denied to any landowners, owners of any easement, or the owners of any franchise adjoining any platted street or alley which is to be annexed to the Town of Firestone but is not bounded on both sides by the Town of Firestone. 3. Four copies of an annexation map of the area proposed to be annexed have been submitted to the Town Board and are on file with the Town. 4. Upon the annexation ordinance becoming effective, all land within the area proposed to be annexed will become subject to all ordinances, resolutions, rules, and regulations of the Town of Firestone, except that general property taxes of the Town of Firestone, if applicable, shall become effective as of the January I next ensuing. 5. No election for annexation of the area proposed to be annexed has been held in the 2 preceding twelve months, and no election is required under C.R.S. § Section 31-12- 107(2) or -112. 6. No additional terms and conditions are to be imposed. 7. The landowners of one hundred percent (I 00%) of the areas proposed to be annexed signed the petition requesting annexation, in compliance with Article II, Section 30 of the Colorado Constitution and C.R.S. § Section 31-12-107(1). Section 2. The Town Board concludes that all statutory requirements have been met, that the proposed annexation is proper under the laws of the State of Colorado and the area proposed to be annexed is eligible for annexation to the Town. The Town Board, acting in its legislative· capacity and pursuant to authority granted to it by state law, may adopt one or more ordinances annexing the subject property to the Town of Firestone. 1./t, INTRODUCED, READ, and ADQPTED this'l_ day of ~Olf-l 111.b v , 2006. yY) Michael P. Simone Mayor ATTEST: I l/61'2006 2:S0 PM (cdl) S:\YucstoDC\Annc::ution\Kugd 2nd (ROW} dig.res.doc 3 EXHIBIT A LEGAL DESCRIPTION KUGEL SECOND ANNEXATION KNOW ALL MEN BY THESE PRESENTS THAT THE TOWN OF FIRESTONE, BEING THE SOLE OWNER AND PROPRIETOR OF THE FOLLOWING DESCRIBED LAND TO WIT: A STRIP OF LAND, 20.00 FEET IN WIDTH, LOCATED IN THE NORTH ONE-HALF OF SECTION 18, TOWNSHIP 2 NORTH, RANGE 67 WEST OF THE 6TH P.M., COUNTY OF WELD, STATE OF COLORADO, BEING THE SAME PORTION OF LAND AS DESCRIBED IN AN EASEMENT DEED FOR USE AS A PUBLIC RIGHT-OF-WAY AS RECORDED AT RECEPTION No. 2732951, BEING MORE PARTICULARLY DESCRIBED AS FOLLOWS: COMMENCING AT THE NORTH QUARTER CORNER OF SAID SECTION 18, FROM WHICH THE NORTHWEST CORNER OF SAID SECTION 18 BEARS N89°30'49"W (BASIS OF BEARING) (PREVIOUSLY RECORDED AS N89°30'43"W), WITH ALL OTHER BEARINGS RELATIVE THERETO; THENCE S00°17'52"E, 30.00 FEET (PREVIOUSLY RECORDED AS S00°17'56"E, 30.00 FEET) ALONG THE WEST LINE OF THE NORTHEAST QUARTER OF SAID SECTION 18 TO THE TRUE POINT OF BEGINNING; THENCE S89°15'53"E, 2591.29 FEET (PREVIOUSLY RECORDED AS S89°15'55"E, 2591.37 FEET)TO THE WESTERLY RIGHT-OF-WAY LINE OF COUNTY ROAD 15; THENCE S00°53'21 "E, 20.00 FEET (PREVIOUSLY RECORDED AS S00°53'19"E, 20.01 FEET) ALONG THE WESTERLY RIGHT-OF-WAY LINE OF SAID COUNTY ROAD 15; THENCE N89°15'53"W, 2591.50 FEET (PREVIOUSLY RECORDED AS N89°15'55"W, 2591.57 FEET) TO THE WEST LINE OF THE NORTHEAST QUARTER OF SAID SECTION 18; THENCE N89°30'49"W, 2079.21 FEET (PREVIOUSLY RECORDED AS N89°30'43"W, 2079.10 FEET) TO THE EASTERLY RIGHT-OF-WAY LINE OF THE FORMER UNION PACIFIC RAILROAD COMP ANY AS RECORDED IN THE OFFICE OF THE WELD COUNTY CLERK AND RECORDER IN BOOK305 AT PAGE 15,ALSO BEING THEEASTERL Y LINE OF THAT PARCEL OF LAND CONVEYED TO THE TOWN OF FIRESTONE AS RECORDED IN THE OFFICE OF THE WELD COUNTY CLERK AND RECORDER UNDER RECEPTION NO. 2538622 IN BOOK 1596; THENCE ALONG SAID EASTERLY LINE N00°16'49"E, 20.00 FEET; THENCE S89°30'49"E, 2079.01 FEET (PREVIOUSL y RECORDED AS S89°30'43"E, 2078.90 FEET) TO THE WEST LINE OF THE NORTHEAST QUARTER OF SAID SECTION 18 AND THE TRUE POINT OF BEGINNING. SAID PARCEL CONTAINS 2.14 ACRES MORE OR LESS (93,397 SQUARE FEET). HA VE CAUSED THE ABOVE DESCRIBED TRACT OF LAND TO BE ANNEXED UNDER THE NAME OF KUGEL SECOND ANNEXATION TO THE TOWN OF FIRESTONE, COLORADO. 4 RESOLUTION NO. 06-5 ..J_ A RESOLUTION CONCERNING A PETITION FOR THE ANNEXATION OF PROPERTY TO THE TOWN OF FIRESTONE, COLORADO, KNOWN AS THE FIRESTONE 7TH ANNEXATION TO THE TOWN OF FIRESTONE, AND FINDING THE AREA PROPOSED TO BE ANNEXED ELIGIBLE FOR ANNEXATION. WHEREAS, a petition for annexation of property described in Exhibit A attached hereto, to be known as the Firestone 7th Annexation, has been filed with the Board of Trustees of the Town of Firestone; and WHEREAS, pursuant to state law, the Town Board has held a hearing and desires to adopt by Resolution its findings in regard to the petition and eligibility for annexation. NOW, THEREFORE, BE IT RESOLVED BY THE TOWN BOARD OF THE TOWN OF FIRESTONE, COLORADO: Section 1. The Town Board finds and concludes that: I. It is desirable and necessary that the territory described in Exhibit A attached hereto and incorporated herein be annexed to the Town of Firestone. 2. The requirements ofC.R.S. §§ 31-12-104 and 31-12-105, as amended, exist or have been met, including: a. Not less than one-sixth of the perimeter of the area proposed to be annexed is contiguous with the Town of Firestone. b. A community of interest exists between the area proposed to be annexed and the Town of Firestone. c. The area proposed to be annexed is urban or will be urbanized in the near future. d. The area proposed to be annexed is integrated with or is capable of being integrated with the Town of Firestone. e. No land within the boundary of the territory proposed to be annexed which is held in identical ownership, whether consisting of one tract or parcel of real estate or two or more contiguous tracts or parcels of real estate, has been divided into separate parts or parcels without the written consent of the landowner or landowners thereof, unless such tracts or parcels were separated by a dedicated street, road, or other public way. f. No land within the boundary of the area proposed to be annexed which is held in identical ownership, whether consisting of one tract or parcel of real estate or two or more contiguous tracts or parcels of real estate, comprising twenty acres or more, and which, together with the buildings and improvements situated thereon, has an assessed value in excess of two hundred thousand dollars ($200,000.00) for ad valorem tax purposes for the year next preceding the annexation, has been included within the area proposed to be annexed without the written consent of the landowners. g. No annexation proceedings have been commenced for any portion of the territory proposed to be annexed for the annexation of such territory to another municipality. h. The annexation of the territory proposed to be annexed will not result in the detachment of area from any school district. 1. The annexation of the territory proposed to be annexed will not have the effect of extending the boundary of the Town of Firestone more than three miles in any direction from any point of the boundary of the Town of Firestone in any one year. J. The territory proposed to be annexed is comprised of 4.98 acres, more or less. k. A plan is in place, pursuant to C.R.S. § 31-12-l0S(l)(e). I. If any portion of a platted street or alley is to be annexed, the annexation will result in the entire width of the street or alley having been included within and made a part of the Town of Firestone and reasonable access will not be denied to any landowners, owners of any easement, or the owners of any franchise adjoining any platted street or alley which is to be annexed to the Town of Firestone but is not bounded on both sides by the Town of Firestone. 3. Four copies of an annexation map of the area proposed to be annexed have been submitted to the Town Board and are on file with the Town. 4. Upon the annexation ordinance becoming effective, all land within the area proposed to be annexed will become subject to all ordinances, resolutions, rules, and regulations of the Town of Firestone, except that general property taxes of the Town of Firestone, if applicable, shall become effective as of the January I next ensuing. 5. No election for annexation of the area proposed to be annexed has been held in the 2 preceding twelve months, and no election is required under C.R.S. § Section 31-12- 107(2) or -112. 6. No additional terms and conditions are to be imposed. 7. The landowners of one hundred percent (I 00%) of the areas proposed to be annexed signed the petition. requesting annexation, in compliance with Article II, Section 30 of the Colorado Constitution and C.R.S. § Section 31-12-107(1 ). Section 2. The Town Board concludes that all statutory requirements have been met, that the proposed annexation is proper under the laws of the State of Colorado and the area proposed to be annexed is eligible for annexation to the Town. The Town Board, acting in its legislative capacity and pursuant to authority granted to it by state law, may adopt one or more ordinances annexing the subject property to the Town of Firestone. ""' INTRODUCED, READ, and ADOPTED this L day of V\ Dlf-l M..bt, r , 2006. Michael P. Simone Mayor ATTEST: diit~~~oocl' u Hegwo own Clerk 3 EXHIBIT A LEGAL DESCRIPTION FIRESTONE SEVENTH (7th ) ANNEXATION A PARCEL OF LAND LOCATED IN THE EAST HALF OF SECTION 12, AND THE EAST HALF OF SECTION 13; TOWNSHIP 2 NORTH, RANGE 68 WEST OF THE 6TH PRINCIPAL MERIDIAN; COUNTY OF WELD, STATE OF COLORADO, BEING MORE PARTICULARLY DESCRIBED AS FOLLOWS: PARCEL A BEGINNING AT THE NORTHEAST CORNER OF SAID SECTION 12, TOWNSHIP 2 NORTH, RANGE 68 WEST, AND CONSIDERING THE NORTH LINE OF THE NORTHEAST QUARTER OF SAID SECTION 12 TO HA VE AN ASSUMED BEARING OF S89°53'08"W WITH ALL OTHER BEARINGS CONTAINED HEREIN RELATIVE THERETO; THENCE S0l 0 46'29"W, 47.66 FEET; THENCE N88°44'09"W, 458.78 FEET; THENCE N88°26'36"W, 223.80 FEET; THENCE NO I 0 46'29"E, 50.00 FEET; THENCE S88°26'35"E, 682.56 FEET TO THE POINT OF BEGINNING AND ALSO, PARCELB BEGINNING AT THE SOUTHEAST CORNER OF SAID SECTION 13, TOWNSHIP 2 NORTH, RANGE 68 WEST; AND CONSIDERING THE EAST LINE OF THE NORTHEAST QUARTER OF SAID SECTION 13 TO HA VE AN ASSUMED BEARING OF S00°15'18"W WITH ALL OTHER BEARINGS CONTAINED HEREIN RELATIVE THERETO; THENCE S00°15'18"W, 1,881.33 FEET; THENCE N89°04'42"W, 50.00 FEET; THENCE N00°15'18"E, 1,881.33 FEET; THENCE N89°12'58"W, 73.45 FEET; THENCE N00°50'24"E, 50.00 FEET; THENCE S89°09'37"E, 65.62 FEET; THENCE 23.75 FEET ALONG A NON-TANGENT CURVE TO THE LEFT HA YING A RADIUS OF 14.95 FEET, A CENTRAL ANGLE OF 91 °00'58", AND A CHORD WHICH BEARS N45°3 I '18"E, 21.33 FEET; THENCE N00°05'34"E, 427.74 FEET; THENCE S89°54'29"E, 42.00 FEET; THENCE S00°05'34"W, 493.46 FEET TO THE POINT OF BEGINNING. 4 AND ALSO, PARCEL C -, COMMENCING AT THE EAST QUARTER CORNER OF SECTION 13, TOWNSHIP 2 NORTH, RANGE 68 WEST; • . THENCE N89°39'07"W, 30.00 FEET TO THE POINT OF BEGINNING; THENCE S00°15'28"W, 2,146.76 FEET; THENCE N89°51'35"W, 30.00 FEET; THENCE N00°15'28"E, 2,146.87 FEET; THENCE S89°39'07"E, 30.00 FEET TO THE POINT OF BEGINNING SAID PARCELS CONTAIN 4.98 ACRES (216,892 SQUARE FEET) MORE OR LESS AND IS SUBJECT TO ALL RIGHTS-OF-WAY, EASEMENTS AND RESTRICTIONS OF RECORD OR THAT NOW EXIST ON THE GROUND. 11/612006 2:36 PM [Gil] S:\F'trc:$tl,l!IC\AJIIltXBtion\f'lfCStOne 7th (ROW) dig.res.doc 5 RESOLUTION NO. 0&: 53 .. A RESOLUTION APPROVING THE TOWN OF FIRESTONE PREMIUM ONLY PLAN. WHEREAS, the Board of Trustees of the Town of Firestone desires to provide certain benefits to the employees of the To.wn of Firestone. NOW THEREFORE, BE IT RESOLVED BY THE BOARD OF TRUSTEES OF THE TOWN OF FIRESTONE, COLORADO: Section ] . The proposed Town of Firestone Premium Only Plan, Case Number HN408606 with Ceridian Benefits Services, Inc. is hereby established and adopted effective as of September I, 2006, in essentially the same form as the copy of the Plan and Amendment accompanying this resolution. Section 2 The Mayor is hereby authorized to execute the plan documents on behalf of the Town, and is further authorized to negotiate and approve on behalf of the Town such revisions to the plan documents as the Mayor determines are necessary or desirable for the protection of the Town, so long as the essential terms and conditions of the plan documents are not altered. ...µ._ INTRODUCED, READ, and ADOPTED this..1__ day of Qd1/eMh-t r: , 2006. ATTEST: 1001/2006 9;22 AM{dn:IS:\F"ircstone\Resolution\Caf'e1c:ria Plan 2006.doc TOWN OF FIRESTONE, COLORADO A/I/--- Michael P. Simone Mayor CASE NUMBER: HN408606 THE TOWN OF FIRESTONE PREMIUM ONLY PLAN Effective: October 1, 2006 COPYRIGHT 2005 CERIDIAN BENEFITS SERVICES, INC. ARTICLE I PURPOSE OF PLAN Section 1.0 I Purpose. ARTICLE II DEFINITIONS Section 2.01 Defined Terms. Section 2.02 Construction. ARTICLE III ELIGIBILITY TABLE OF CONTENTS Section 3.01 Eligibility to Participate. Section 3 .02 Participation Requirements. ARTICLE IV BENEFITS Section 4.01 Benefit Options. Section 4.02 Premium Payment Option. ARTICLE V BENEFIT ELECTION PROCEDURES Section 5.01 Benefit Elections. Section 5.02 Failure to Enroll. Section 5 .03 Automatic Termination of Participation. Section 5 .04 Election Modifications Required by the Administrator. ARTICLEVI PREMIUMPAYMENT Section 6.01 Premium Payment Authorization. Section 6.02 Automatic Termination of Authorization. Section 6.03 Payment During Leave. ARTICLE VII NONDISCRIMINATION Section 7 .0 I Nondiscrimination. ARTICLE VIII GENERAL PROVISIONS Section 8.0 I Administration. Section 8.02 Amendment and Termination. Section 8.03 Termination of Employment. Section 8.04 Exclusive Benefit. Section 8.05 Spendthrift Clause. Section 8.06 Employer Liability. Section 8.07 Related Employers. Section 8.08 Governing Law. THE TOWN OF FIRESTONE PREMIUM ONLY PLAN ARTICLE I. PURPOSE OF PLAN. Section 1.01. Purpose. The purpose of this Plan is to furnish eligible Employees of the Employer with a choice of receiving certain taxable or non-taxable benefits. It is intended that this Plan qualify as a "cafeteria plan" within the meaning of Section 125(d) of the Code, and that certain benefits that an eligible Employee elects to receive be eligible for exclusion from such Employee's income under Section 125 of the Code. ARTICLE II. DEFINITIONS. Section 2.01. Defined Terms. (a) "Adnrinistrator" means the Employer, or any other person or organization subsequently designated as such by TOWN OF FIRESTONE with the authority and responsibility to manage and adnrinister the Plan. (b) "Cash Option" means the option where the Employee receives his full compensation in cash forgoing the Premium Payment Option. ( c) "COBRA" means the Consolidated Omnibus Budget Reconciliation Act of 1986, as amended. ( d) "Code" means the Internal Revenue Code of 1986, as amended. (e) "Compensation" means W-2 wages and other taxable compensation from the Employer for any Plan Year. (f) "Effective Date" means October 1, 2006. (g) "Employee" means any common law Employee of the Employer. The term Employee shall not include any person employed by the Employer at a location outside the United States or an individual characterized by the Employer as an independent contractor. (h) "Employer" means TOWN OF FIRESTONE or its successor(s). However, where appropriate, the term "Employer" shall also mean an Affiliate that is the employer of a particular Participant. (i) "Employer Credits" means dollars into the Plan with respect to a Participant made independently by the Employer, which may be used for purposes of purchasing benefits through the Plan. G) "FMLA Leave" means a leave of absence provided to an Employee of the Employer under the Family and Medical Leave Act of 1993, as amended. (k) "Highly Compensated Individual" means a highly compensated individual as defined in Code Section 125 (e)(2). (I) "Highly Compensated Participant" means a highly compensated participant as defined in Code Section 125 (e)(I). (m) "Insurance Plan" means the plan(s) maintained by the Employer to provide accident and health benefits and/or group term life to the Employer's Employees, which is partially or fully insured by an independent third party. (n) ''Key Employee" means a Key Employee as defined in Code Section 416 (i)(l). ( o) "Participant" means any Employee of the Employer who, on or after the Effective Date applies to participate in the Plan and meets the requirements of Section 3.01. (p) "Premium Payment Option" means the option to pay Insurance Plan premiums on a pre-tax basis through the Plan. ( q) "Plan" means the cafeteria plan herein contained, as amended from time to time, which shall be !mown as "TIIE TOWN OF FIRESTONE PREMIUM ONLY PLAN." (r) "Plan Year" meaqs the twelve-(12) month period beginning January I and ending December 31. Section 2.02. Construction. Wherever appropriate, words used in the singular may include the plural, or the plural may be read as the singular; and the masculine may include the feminine. ARTICLE ID. ELIGIBILITY. Section 3.01. Eligibility to Participate. (a) An Employee who regularly works 30 hour(s) per week and has completed a period of I day(s) of consecutive employment with the Employer may become a Participant in the Plan, counting periods that an Employee is on leave required under FMLA or during an absence from work for duty in the uniformed service of the United States of America. (b) Any Employee whose employment is covered by a collective bargaining agreement shall become eligible to participate in this Plan only upon agreement between the Employer and the Employee's bargaining representative or written direction by the Employer after satisfaction of any collective bargaining obligation under the National Labor Relations Act. Any such Employee's date of participation shall be that determined through collective bargaining, or as may otherwise be lawfully determined by the Employer. 3.02. Participation Requirements (a) An Employee of the Employer who makes an election to allocate contributions to the Plan shall become a Participant on the later of: (i) The Effective Date; or (ii) The first day of the month coincidental with or next following the date the Employee completes the standards of Section 3 .0 I. (b) Any Participant whose employment with the Employer tenninates because of a bona fide tennination, and who is rehired, may be reinstated as a Participant, on the first day of the month coincidental with or next following the date the Employee completes I day(s) of consecutive employment. (c) Notwithstanding anything in this Section 3.02 to the contrary, the Administrator may, at any time, exclude one or more Highly Compensated Individuals or Key Employees from participation in the Plan if such exclusion is necessary to maintain the statutory non-taxable status of benefits received under this Plan by other Key Employees. Such exclusion shall be accomplished in a nondiscriminatory manner and shall be based on such facts and circumstances as the Administrator deems to be appropriate. ARTICLE IV. BENEFITS. Section 4.01. Benefit Options. A Participant may, pursuant to the procedures described in Article V: '-4: (a) (b) Elect to receive the Cash Option, or to have a portion of it applied by the Employer toward the cost of the Premium P1'yment Option described below: Elect to have any Employer Credits allocated under this Plan applied by the Employer toward the cost of the Premium Payment Option described below: (i) The amount of Employer Credits shall be detennined annually by the Employer and communicated to Participants and Eligible Employees during the enrollment period in a timely fashion. Employer Credits will be available for application under the Plan ratably with respect to each payroll period during a Plan Year. (ii) Employer Credits may be applied with respect to the Premium Payment Option toward the cost of premiums for the Insurance Plan(s) for the coverage elected by the Participant. Employer Credits may be applied with respect to any of the Insurance Plans providing accident or health benefits and/or group term life benefits. Section 4.02. Premium Payment Option. Benefits shall be provided through, and in accordance with the provisi_ons of, the Insurance Plan(s). The maximum amount of Employer Credits and Compensation a Participant may elect to _have applied on a pre-tax basis toward the cost of the Premium Payment Option for any Plan Year or a portion thereof is the cost of premiums under the most expensive Insurance Plan(s) available to the Participant. ARTICLE V. BENEFIT ELECTION PROCEDURES. Section 5.01. Benefit Elections. (a) The Administrator shall prescribe suitable forms to be utilized by Participants in electing benefit options under the Plan. (b) The benefit period under the Plan shall be the Plan Year. Benefit elections for any Plan Year shall be made, in accordance with procedures prescribed by the Administrator, prior to or, in the case of a new Participant, prior to his effective date of participation in the Plan. ( c) There will be an enrollment period during which the Employees can enroll in and select benefits available under the Plan prior to (i) The first day of a Plan Year during which an Employee is eligible to participate in the Plan; or (ii) The first day, during a Plan Year, of the month after the date that a new Employee becomes eligible to participate in the Plan, in accordance with the standards of Section 3 .0 I. ( d) An enrollment form must be completed and returned to the Administrator prior to the end of the enrollment period for an election to be effective. ( e) Prior to the beginning of each subsequent Plan _Year with respect to which this Plan continues in effect, there will be an enrollment period during which a Participant will have the opportunity to elect a different or new benefit election under the Plan effective for the subsequent Plan Year. (f) A Participant's benefit election for any Plan Year shall be irrevocable; provided, a Participant may revoke or modify a benefit election during a current Plan Year if the revocation or modification is on account of a change in the Participant's status. A change in status shall be determined in accordance with regulations promulgated by the Internal Revenue Service under Code Section 125. Any revocation or modification must be consistent with the reason such revocation or modification was pemritted. Any such revocation or modification shall be on a form prescribed by the Administrator and shall be effective as of the first pay period after such form is completed and returned to the Administrator. (g) A Participant may revoke or modify a benefit election during a current Plan Year if the revocation or modification is on account of a Qualified Medical Child Support Order (QMCSO) or other Judgments or Orders under 29 USC Section I !69(a); on account of the special enrollment rights of the Health Insurance Portability and Accountability Act of 1996 (HIP AA); on account of an employee, spouse or dependent becomes entitled to coverage under Part A or Part B of Medicare or Medicaid or on account of a COBRA Qualifying Event. (h) A Participant, on account of an FMLA Leave, may revoke his benefit election. When he returns from FMI..A Leave after having revoked his benefit elections on account of taking FMLA Leave he may have his benefit elections reinstated on the same terms as prior to taking FMLA Leave, to the extent that reinstatement is required under the FMLA Leave. A reinstated Participant shall not have a greater right to benefits for the remainder of the Plan Year than a Participant who is continuously working during the Plan Year. Section 5.02. Failure to Enroll. (a) Ifan Employee fails to return an initial election form prior to the end of the enrollment period, the Employee will be deemed to have elected the Cash Option. However, an eligible Employee will be allowed to make an election to participate in the Plan during a succeeding enrollment period if he or she wishes. (b) If a Participant does not return an election form for a subsequent Plan Year, then that Participant shall be considered to have made the same elections as in the prior Plan Year, subject to the current terms, conditions, and limitations of each benefit option available at that time. Section 5.03. Automatic Termination of Participation. Participation under this Plan shall automatically terminate on the date on which the Participant's employment with the Employer terminates. Section 5.04. Election Modifications Required by Administrator. (a) Notwithstanding anything in this Plan to the contrary, the Administrator may, at any time, require all or any class of Employees to amend the amount of any Premium Payment Option authorization by them for a Plan Year or the Administrator may take such other actions as it deems appropriate in the event the Administrator determines that such amendments or other actions are necessary or advisable in order to: (i) Satisfy the nondiscrimination requirements imposed on this Plan by any provision of the Code and any rules or regulations issued pursuant thereto (ii) Prevent any Participant or class of Participants from having to recognize more income for Federal income tax purposes from the receipt of optional benefits hereunder than would otherwise be recognized due to the application of any provision of the Code, or rules or regulations issued pursuant thereto; or (iii) Maintain the statutory nontaxable status of benefits received under this Plan pursuant to the requirements of the applicable provisions of the Code, including, without limitation, a modification of elections by Highly Compensated Participants or Key Employees, with or without the consent of such Employees. (b) The Administrator may divide Employees into two or more classes for purposes of this Section 5.04 provided that such classification shall be nondiscriminatory, based on such facts and circumstances as the Administrator determines to be appropriate including, but not limited to, scheduled hours or other relevant considerations. Any required amendment of elections as permitted by this Section 5 .04 shall be made pursuant to and in accordance with such rules, regulations and procedures as the Administrator may from time to time adopt in the exclusive exercise of its discretion. ARTICLE VI. PREMIUM PAYMENT. Section 6.01. Premium Payment Option Authorization. (a) Each Participant who timely elects the Premium Payment Option under Article IV must authorize the Employer to reduce his Compensation for the Plan Year or allocate Employer Credits under this Plan in an amount equal to the Participant's cost of premiums under the Insurance Plan(s) for coverage elected by the Participant, subject to automatic adjustment in the event of an insignificant change in the Participant's cost of premiums under the Insurance Plan(s). (b) Premium Payment Option authorizations for any Plan Year shall be entered into, in accordance with procedures prescribed by the Administrator, prior to the first day of the Plan Year or, in the case of a new Participant, prior to his effective date of participation in the Plan. ( c) A Premium Payment Option authorization for any Plan Year shall be irrevocable as provided in Section 5.0l(f). A Participant may, however, revoke or modify a Premium Payment Option authorization during a current Plan Year if the revocation or modification is on account of a change in the Participant's status. Additionally, if the premium amount ofan Insurance Plan significantly increases or the coverage of an Insurance Plan is significantly curtailed or modified, a Participant may revoke a Premium Payment Option authorization during a current Plan Year and, in lieu thereof, receive on prospective basis coverage under another Insurance Plan with similar coverage, if similar coverage is available. A change in status shall be determined in accordance with regulations promulgated by the Internal Revenue Service under Code Section 125. ( d) Any such revocation or modification shall be on a form prescribed by the Administrator and shall be effective as of the first pay period after such form is completed and returned to the Administrator. Section 6.02. Automatic Termination of Authorization. Premium Payment Option authorizations made under this Article shall automatically terminate on the date on which the Participant's employment with the Employer terminates. Section 6.03. Payment During Leave. With respect to Participants who go on leave which is Employer-approved or FMLA Leave, contributions required or permitted to be made by them under the Plan may be made by one of the following methods, which must be nondiscriminatory, as agreed between the Employee on leave and the Employer before the commencement of the leave of absence or the applicable coverage period: (a) Contributions may be made by the Employee on leave on a regular basis (generally on an after-tax basis); (b) Contributions may be made by the Employee on leave by pre-payment (generally on a pre-tax basis with respect to the same Plan Year during which the leave occurs); or ( c) Contributions advanced by the Employer on behalf of the Employee on leave may be re-paid by the Participant when he returns from leave on either a pre-tax basis with respect to the same Plan Year during which the leave occurs or on an after-tax basis. ( d) Contributions may be revoked by the Employee on FMLA Leave and when he returns from leave, he may reinstate those contributions according to Section 5.0l(h) ARTICLE VII. NONDISCRIMINATION. Section 7.01. Nondiscrimination. (a) Notwithstanding anything in this Plan to the contrary, this Plan shall not discriminate in favor of Highly Compensated Individuals as to eligibility to participate. (b) Notwithstanding anything in this Plan to the contrary, this Plan shall not discriminate in favor of Highly Compensated Participants as to contributions or benefits. ( c) The statutory non-taxable benefits provided to Key Employees under the Plan shall not exceed 25% of the aggregate of such statutory non-taxable benefits provided for all Employees under the Plan. (d) All Employees who are treated as employed by a single employer under subsections {b), (c) or (m) of Section 414 of the Code shall be treated as employed by a single employer for purposes of this Article VII. ARTICLE VIII. GENERAL PROVISIONS. Section 8.01. Administration. (a) The Administrator shall serve at the pleasure of the Employer or designated officer of the Employer. The Administrator shall construe and interpr~t this Plan, and shall decide all questions of eligibility and benefits. · Any.such determination and decision of the Administrator shall be final, conclusive, and binding upon all parties affected thereby, unless arbitrary and capricious. This Plan is intended to be interpreted in accordance with and qualify as a "cafeteria plan" under Section 125 of the Code. To the extent any provisions contained herein are inconsistent with this Code section, such provisions are hereby modified to conform therewith. (b) The Administrator shall establish uniform rules, procedures and interpretations as appropriate for the administration of the Plan, to be consistently applied to all Participants in like circumstances. ( c) Any administrative discretion under the Plan shall be based solely on clearly defined and ascertainable criteria set forth in the Plan. Section 8.02. Amendment and Termination. This Plan may be amended or terminated at any time by the Employer. Upon termination of the Plan, Participant's benefits shall become payable as the Employer may direct. The Employer shall inform the Participants of any changes, amendments or termination of this Plan. Section 8.03. Termination of Employment. If a Participant has authorized the Premium Payment Option and that Participant's employment terminates for any reason, the Participant shall continue to receive such benefits to the extent provided for by the terms of the Insurance Plan(s). Section 8.04. Exclusive Benefit. Amounts available for elective use under this Plan shall be used for the exclusive benefits of Employees and their dependents. The Plan, however, does not grant any Employee the right to be retained in the service of the Employer. Section 8.05. Spendthrift Clause. Benefits payable under this Plan may not be assigned, alienated, transferred, pledged or encumbered, nor shall any such benefit be subject to claims of or seizure by legal process by creditors. Section 8.06. Employer Liability. (a) (b) Benefits payable under this Plan will be paid solely from the general assets of the Employer, without interest or earned credit of any land . • No Employee, Participant, dependent or beneficiary shall have any right or interest in any assets of the Employer upon termination of this Plan, their employment or otherwise, except as specifically provided under this Plan, and then only to the extent of the benefits payable under this Plan. Section 8.07. Related Employers. If the Employer is a member of a controlled group of corporations, the Employer may, by resolution, authorize other members of the controlled group to adopt this Plan. Section 8.08. Governing Law. To the extent the laws of any State shall apply, this Plan shall be construed, administered and enforced in accordance with the laws of the State of COLORADO. IN WITNESS WHEREOF, the Employer has caused this Plan to b_e executed as of the Effective Date. CERIDIAN BENEFITS' SERIVCES, INC. By: ATTEST: By: 11/3/2006 10:09 AM[drd)S:\Firestone\Agreements\Ceridian Amendment.doc ·• AMENDMENT TO CASE NUMBER HN408606 THE TOWN OF FIRESTONE PREMIUM ONLY PLAN The Town of Firestone Premium Only Plan between the Town of Firestone and Ceridian Benefits Services, Inc., Case Number HN408606 is hereby amended as follows: I. Section 4.0l(a) is revised in its entirety to read as follows: (a) Elect to receive the Cash Option, or to have a portion of it applied by the Employer toward the cost of the Premium Payment Option described below in Section 4.02. 2. A new Section 4.0l(b)(iii) ishen,by added to·read as follows: (iii) Iri no· event may the Employer Credits be available under the Cash Option. Employer Credits that are not used to purchase the Premium Payment Option will be retained by the Employer and the Participant will have no right to those unused Employer Credits. 3. The Effective Date of the Plan shall be September I, 2006. 4. This Amendment shall be effective as of the Effective Date of the Plan. 5. All other terms and conditions of the Plan shall remain the same. IN WITNESS WHEREOF, the parties have caused this Amendment to the Plan to be executed as of the effective date,ofthe Plan. Michael P. Simone, Mayor_ ATTEST: Firestone A Commu11ity /11Motio11 Finance Department MEMORANDUM Date: November 6, 2006 To: Mayor Simone and Board of Trustees From: Patricia A. Nelson, Treasurer Re: Premium Only Plan -(POP) Attached please find the Town of Firestone Premium Only Plan -Case Number: HN 408606, Amendment to Case Number: HN408606, and A Resolution Approving the Town of Firestone Premium Only Plan. The Premium Only Plan is required by the Internal Revenue Service to be in place at the beginning of each plan year, September I, 2006 thru August 31, 2007, for the purpose of employee pre-paid deductions regarding the health benefit package. Thank you. o.G,sY f\-F Ll)(lek,n 5rd;ea_s RESOLUTION No. Olo-SL/- A RESOLUTION APPROVING THE FORM OF A PIF COLLECTION SERVICES AND TRUSTEE AGREEMENT RELATING TO THE DEVELOPMENT OF FIRESTONE CITY CENTRE WHEREAS, the Town of Firestone, Colorado (the 'Town") has approved and executed an Amended and Restated Public Improvements Reimbursement Agreement, dated as of July 31, 2006 (the "PIRA") among the Town, American Furniture Warehouse Co. and THF Firestone Development, L.L.C. (collectively, the "Developers") relating to the financing of public i_mprovements in connection with the development of the Firestone City Centre; and WHEREAS, pursuant to Section 4.05 of the PIRA, the Town has the right to approve the form of the PIF Collection Services and Trustee Agreement (the "Agreement") prior to its execution by the Developers; and WHEREAS, a form of the Agreement has been filed with the Town Clerk of the Town; and WHEREAS, the Board of Trustees of the Town finds that the approval of the form of the Agreement is in the best interests of the Town. NOW THEREFORE, BE_IT RESOLVED BY THE BOARD OF TRUSTEES OF THE TOWN OF FIRESTONE, COLORADO: Section I. The form of the Agreement, in substantially the form attached hereto as Exhibit A and incorporated herein by this reference, is hereby approved. The approval hereby given includes any minor corrections or revisions that shall be made to the Agreement, as deemed necessary by the parties thereto, and that are agreed to in writing by the Town's Finance Director. Section 2. In consideration of Section 4.9 of the Agreement that provides that the Town is an express third party beneficiary of the Agreement with respect to certain provisions thereof, the Town hereby agrees to be bound by Sections 2.3 and 4.5(d) of the Agreement. Section 3. The officers, employees and agents of the Town are hereby authorized and directed to take all action necessary or appropriate to effectuate the provisions of the PIF Trustee Agreement. I INTRODUCED, READ, and ADOPTED this 16th day ofNovember, 2006. TOWNOFFIRJE~ ~d~ Michael Simone Mayor 2 EXHIBIT A (Attach PIF Collection Services and Trustee Agreement) 3 MEMORANDUM To: Board of Trustees, Town of Firestone, Colorado From: Sarah P. Tasker -Sherman & Howard L.L.C. Date: November 9, 2006 Re: PIF Collection Services and Trustee Agreement The Town has entered into an Amended and Restated Public Improvements Reimbursement Agreement (the "PIRA"), dated July 3 I, 2006, with American Furniture Warehouse Co. and THF Firestone Development, L.L.C. (collectively, the "Developers"). The PIRA is intended to help finance the construction of certain public improvements in connection with the development of a retail area at I-25 and Firestone Boulevard to be known as the Firestone City Centre. Under the PIRA, the Developers will impose a public improvements fee in the amount of 1.25% (the "Credit PIF") on the sale or provision of goods or services in the project area that are subject to the Town's sales tax or use tax (on building materials only). On August 24, 2006, the Board of Trustees of the Town adopted an ordinance that granted a corresponding 1.25% credit against the Town's sales tax and use tax (on building materials only) occurring within the project area. Under the PIRA, the Credit PIF revenues are to be remitted to a third party trustee and then disbursed by the trustee to the Developers to pay for the costs of the eligible public improvements. The Town has the right under the PIRA to approve the form of the agreement between the Developers and the Trustee that will govern the collection and disbursement of Credit PIF revenues. At its meeting on November 16, 2006, the Board of Trustees will be considering whether to approve the form of a PIF Collection Services and Trustee Agreement (the "PIF Trustee Agreement"), among the Developers and Special District Management Services, Inc., serving as PIF trustee (the "Trustee"). Under the PIF Trustee Agreement, all Credit PIF revenues will be remitted by the retailers directly to the Trustee. The Trustee will deposit the Credit PIF revenues into a separate account. Disbursements of Credit PIF revenues can be made by the Trustee to the Developers only upon receiving a requisition by the Developers that sets forth the qualified public improvement expenditures and that contains a certification from an independent engineer. The Developers must simultaneously submit the requisition to the Town's Finance Director. The Finance Director has the right to object to all or a portion of the requisition request, and if an objection is filed with the Trustee, the Credit PIF revenues will not be disbursed to the Developers until the dispute is resolved. The PIF Trustee Agreement sets forth the form of requisition that must be submitted by the Developers and also contains an exhibit that sets forth a schedule of eligible costs, which is subject to an overall cap of $II million plus accrued interest as set forth in the PIRA. The PIF Trustee Agreement provides that it is subject in all respects to the terms and conditions of the PIRA and that the terms and conditions of the PIRA will control over any conflicting terms and conditions of the PIF Trustee Agreement. Wbile the Town is not a party to the PIF Trustee Agreement, the Town is an express third party beneficiary with respect to Credit PIF revenues that the Trustee receives or disburses during the term of the PIF Trustee Agreement. PIF COLLECTION SERVICES AND TRUSTEE AGREEMENT THIS PIF COLLECTION SERVICES AND TRUSTEE AGREEMENT (as defined in Exhibit A of this Agreement, this "Agreement"), dated as of I\Ol)Ln'lb tt' I ~ , 2006, is by and between SPECIAL DISTRICT MANAGEMENT SERVICES, INC., a Colorado corporation (as defined in Exhibit A of this Agreement, "SDMS"), AMERICAN FURNITURE WAREHOUSE CO., a Colorado Corporation (as defined in Exhibit A of this Agreement, "AFW"), THF FIRESTONE DEVELOPMENT, L.L.C., a Missouri limited liability company (as defined in Exhibit A of this Agreement, "TFD"), AFW FIRESTONE PUBLIC IMPROVEMENT COMPANY, INC., a Colorado nonprofit corporation (as defined in Exhibit A of this Agreement, the "AFW PIC"), and TFD FIRESTONE CITY CENTRE PUBLIC IMPROVEMENT COMPANY, INC., a Colorado nonprofit corporation (as defined in Exhibit A of this Agreement, the "TFD PIC"). RECITALS This Agreement is made with reference to the following facts: A. Capitalized terms used in this Agreement have the meanings set forth in Exhibit A of this Agreement. Each of the Exhibits to this Agreement are incorporated into and made a part of this Agreement. B. The Developers and the Town have entered into the PIRA. Pursuant to the PIF Covenant and the PIRA: (i) Developers have imposed a PIF (Public Improvements Fee) on certain sales, provision of goods or services, and certain other transactions occurring within Firestone City Centre; (ii) the PIF will consist of two components, the Credit PJF (which may be replaced under certain circumstances by the Contingent PIF, as provided in the PIF Covenant) and the Add-On PIF; (iii) the Credit PIF Revenues (or Contingent PIF Revenues, if applicable) will be used to contribute to the financing of the AFW Improvements and the TFD Improvements pursuant to the terms and conditions of the PIRA and the PIF Covenant; and (iv) the Add-On PIF Revenues will be used for such other purposes as may be permitted under the PIF Covenant. C. The PICs' and the Developers' receipt and use of the Credit PIF Revenues is subject to the terms and conditions of the PIRA and the PIF Covenant. The PICs' and Developers' receipt and use of the Add-On PIF Revenues (and the Contingent PIF Revenues, if applicable) is subject only to the terms and conditions of the PIF Covenant. D. The PIF Covenant designates the PICs as the initial PIF Collecting Agents (as defined in the PIF Covenant) to receive the PJF Revenues. Pursuant to the terms of the PIRA and with the concurrence of the Town and the Developers, the PICs wish to appoint SDMS, and SDMS desires to accept such appointment, as the PIF Collecting Agent/Trustee (as defined in the PIRA) to collect, receive, disburse and account for all Credit PIF Revenues in accordance with the terms and conditions of the PIRA and the PIF Covenant as set forth in this Agreement. 69J6J19 E. As an administrative convenience, and with Developers' concurrence, each PIC also wishes to appoint SDMS, and SDMS wishes to accept such appointment, as their agent to collect, receive, disburse and account for all Add-On PIF Revenues (and Contingent PIF Revenues, if applicable) in accordance with the terms and conditions of the PIF Covenant as set forth in this Agreement. AGREEMENT NOW, THEREFORE, for and in consideration of the mutual agreements, promises and covenants herein contained, the Parties mutually undertake, promise, and agree for themselves, their respective representatives, successors and assigns, as follows: SECTION 1 PIF COLLECTING AGENT FUNCTIONS 1.1. Appointment of SDMS as Agent of PI Cs. (a) Appointment and Acceptance. The PICs hereby appoint SDMS as their agent, and SDMS hereby accepts such appointment, for purposes of (i) receiving, collecting, accounting for and administering all PIF Revenues paid by PIF Obligors, and (ii) remitting and disbursing all PIF Revenues to the P!Cs (or as otherwise required pursuant to this Agreement) during the term of and subject to the terms and conditions of this Agreement. By the execution of this Agreement, SDMS accepts the responsibility of receiving the PIF Revenues from PIF Obligors and depositing such PIF Revenues in the Credit/Contingent PIF Trust Account, the AFW Add-On PIF Account or the TFD Add-On PIF Account, as applicable, within two (2) business days after receipt thereof, subject to the terms and conditions of this Agreement. (b) Agency Relationship. SDMS is not the agent of any Person other than the PICs and will have only those responsibilities expressly set forth in this Agreement. (c) Ownership of PIF Revenues. Notwithstanding the appointment of SDMS as the P!Cs' agent for the purposes and subject to the limitations set forth in this Agreement, the PI Cs are the lawful beneficiaries of the PIF Revenues in accordance with the terms of the PIF Covenant. SDMS hereby acknowledges that, as more fully set forth in this Agreement, the PIF Revenues collected pursuant to this Agreement are the property of the P!Cs and that SDMS will distribute the PIF Revenues to the AFW PIC and/or to the TFD PIC, as applicable (or as otherwise required pursuant to this Agreement), in accordance with the terms of this Agreement. 1.2. Notification to SDMS of Sales Fee Obligors. Each Developer and each PIC will employ commercially reasonable efforts to provide SDMS with prior written notice of each new Sales Fee Obligor engaging or intending to engage in PIF Sales of which such Developer or PIC has knowledge, such notice to be delivered before the initial Fee Remittance Date applicable to such Sales Fee Obligor. Additionally, SDMS will coordinate with the Finance Director to obtain notification from the Town of each new sales tax or business license issued to a PIF Obligor within Firestone City Centre. SDMS will maintain a written list of each active Sales Fee Obligor within Firestone City Centre, which list will include a designation of whether each such Sales 6926H.9 2 Fee Obligor is located within the TFD Property or within the AFW Property (a "Sales Fee Obligor List"). SDMS will include a current copy of the Sales Fee Obligor List within each Monthly PIF Report, and will coordinate with the Finance Director to ensure that the Sales Fee Obligor List is updated to reflect each Sales Fee Obligor which then holds a valid sales tax license issued by the Town. In preparing and updating the Sales Fee Obligor List, SDMS will be entitled to rely exclusively on the information provided by the Developers, the PJCs and the Finance Director with no independent obligation of SDMS to investigate or verify the information. 1.3. Remittance or PIF Revenues to SDMS. In performing its obligations under this Agreement, SDMS will be entitled to rely on all reports furnished pursuant to the following Subsections 1.3(a), (b) and (c) without any obligation to investigate or independently verify the information in such reports. 6926)2.9 (a) Credit PIF Revenues. For so long as the Credit PIF is imposed pursuant to the terms and conditions of the PJF Covenant: 1. PJF Sales. Each Sales Fee Obligor is obligated to: (i) calculate the Credit PIF amount due and payable on PJF Sales conducted by such Sales Fee Obligor during the relevant Reporting Period; (ii) complete and submit to SDMS a Credit PJF Report (to be submitted to SDMS concurrently with the corresponding Add-On PJF Report) covering all transactions occurring during the applicable Reporting Period and setting forth the amount of Credit PIF Revenues due for such Reporting Period; and (iii) remit such Credit PIF Revenues to SDMS, together with the corresponding Credit PJF Report, on or before the Fee Remittance Date applicable to such Reporting Period. 2. Construction Activities. Each Use Fee Obligor is obligated to prepare and deliver to the applicable PIC a Credit PJF Report, together with the applicable Credit PJF amount, to the TFD PIC or the AFW PIC, as applicable, concurrently with the applicable PIC's performance, pursuant to the PJF Covenant, of its design review functions, certification of architectural review/payment of applicable Credit PIF amount, and approval of the relevant Construction Activity. The applicable PIC will then remit the Credit PIF Report (to be submitted concurrently with the corresponding Add-On PIF Report), together with the applicable Credit PIF Revenues, to SDMS on or before the Fee Remittance Date for such Construction Activity. (b) Add-On PIF Revenues. For so long as the Add-On PJF is imposed pursuant to the terms and conditions of the PIF Covenant: I. PJF Sales. Each Sales Fee Obligor is obligated to: (i) calculate the Add-On PIF amount due and payable on PJF Sales conducted by such Sales Fee Obligor during the relevant Reporting Period; (ii) complete and submit to SDMS an Add-On PIF Report (to be submitted to SDMS concurrently with the corresponding Credit PJF Report or, if applicable, Contingent PIF Report) covering all transactions occurring during the applicable Reporting Period and setting forth the amount of Add-On PIF Revenues due for such Reporting Period; and (iii) remit such Add-On PIF Revenues to SDMS, together 3 with the corresponding Add-On PIF Report, on or before the Fee Remittance Date applicable to such Reporting Period. 2. Construction Activities. Each Use Fee Obligor is obligated to prepare and deliver to the applicable PIC an Add-On PIF Report, together with the applicable Add-On PIF amount, to the TFD PIC or the AFW PIC, as applicable, concurrently with the applicable PIC's performance, pursuant to the PIF Covenant, of its design review functions, certification of architectural review/payment of applicable Add- On PIF amount, and approval of the relevant Construction Activity. The applicable PIC will then remit the Add-On PIF Report (to be submined concurrently with the corresponding Credit PIF Report or, if applicable Contingent PIF Report), together with the applicable Add-On PIF Revenues, to SDMS on or before the Fee Remittance Date for such Construction Activity. (c) Contingent PIF Revenues. if applicable pursuant to the PIF Covenant, in lieu of complying with the Credit PIF requirements described in Subsection l.3(a), and for so long as the Contingent PIF is imposed pursuant to the terms and conditions of the PIF Covenant: I. PIF Sales. Each Sales Fee Obligor will be obligated to: (i) calculate the Contingent PIF amount due and payable on PIF Sales conducted by such Sales Fee Obligor during the relevant Reporting Period; (ii) complete and submit to SDMS a Contingent PIF Report (to be submitted to SDMS concurrently with the corresponding Add-On PIF Report) covering all transactions occurring during the applicable Reporting Period and setting forth the amount of Contingent PIF Revenues due for such Reporting Period; and (iii) remit such Contingent PIF Revenues to SDMS, together with the corresponding Contingent PIF Report, on or before the Fee Remittance Date applicable to such Reporting Period. 2. Construction Activities. Each Use Fee Obligor will be obligated to prepare and deliver to the applicable PIC a Contingent PIF Report, together with the applicable Contingent PIF amount, to the TFD PIC or the AFW PIC, as applicable, concurrently with the applicable PIC's performance, pursuant to the PIF Covenant, of its design review functions, certification of architectural review/payment of applicable Contingent PIF amount, and approval of the relevant Construction Activity. The applicable PIC will then remit the Contingent PIF Report (to be submitted concurrently with the corresponding Add-On PIF Report), together with the applicable Contingent PIF Revenues, to SDMS on or before the Fee Remittance Date for such Construction Activity. 1.4. Deposit of PIF Revenues by SDMS. Not later than the second (2 nd ) business day after receipt of any PIF Revenues from PIF Obligors, SDMS will deposit such PIF Revenues as follows: 69l6l2'il (a) Credit PIF Revenues. SDMS will deposit all Credit PIF Revenues in the Credit/Contingent PIF Trust Account. All Credit PIF Revenues will be held and maintained in the Credit/Contingent PIF Trust Account, subject to disbursement by 4 6926J1.9 SDMS in its trustee capacity to the PICs in accordance with the terms and conditions of Section 2. (b) Add-On PIF Revenues. SDMS will determine, based on the Sales Fee Obligor List and Add-On PIF Reports, and without independent investigation or verification, whether each individual PIF Obligor from which it has received Add-On PIF Revenues is located within the AFW Property or within the TFD Property and will deposit all Add-On PIF Revenues in the appropriate account as set forth below. Upon depositing such funds as provided below, SDMS will have no further obligation with respect to such Add-On PIF Revenues ( except with respect to the preparation, distribution and retention of relevant records, reports and audits as required by other provisions of this Agreement), and the applicable PIC may thereupon utilize such Add-On PIF Revenues for any purpose authorized pursuant to the PIF Covenant. 1. AFW Property. SDMS will deposit all Add-On PIF Revenues received from PIF Obligors located within the AFW Property in the AFW Add-On PIF Account. 2. TFD Property. SDMS will deposit all Add-On PIF Revenues received from PIF Obligors located within the TFD Property in the TFD Add-On PIF Account. (c) Contingent PIF Revenues. To the extent PIF Obligors are required under the terms of the PIF Covenant to collect and remit Contingent PIF Revenues in lieu of Credit PIF Revenues, SDMS will deposit all Contingent PIF Revenues in the Credit/Contingent PIF Trust Account, subject to disbursement by SDMS in its trustee capacity to the PI Cs in accordance with the terms and conditions of Section 2. (d) Establishment of Accounts. Initially, the Credit/Contingent PIF Trust Account, the AFW Add-On PIF Account and the TFD Add-On PIF Account will be established with Wells Fargo Bank, at the Lakewood branch located at 143 S. Union Blvd., Lakewood, Colorado, subject to the following: I. Credit/Contingent PIF Trust Account. The Credit/Contingent PIF Trust Account will be a non-interest bearing account established using SDMS' Federal Employer Identification Number. SDMS' authorized representative(s) will be the only signatories. This account may be moved from the Wells Fargo Bank branch location identified above to another bank only upon SDMS' receipt ofwrinen instructions therefor executed by the Finance Director and the authorized representatives of the TFD PIC and the AFW PIC. 2. AFW Add-On PIF Account. The AFW Add-On PIF Account will be established by the AFW PJC upon such terms as it deems appropriate using the AFW PJC's Federal Employer Identification Number. The AFW PIC's authorized representative(s), or such designees as the AFW PJC in its discretion may authorize, will be the only signatories, and SDMS will not be a signatory on this account or have authority to transfer funds from or draw checks on this account. The AFW PIC may 5 move this account from the Wells Fargo Bank branch location identified above to another bank only upon after providing SDMS with thirty (30) days' prior written notice thereof, together with written instructions for SDMS' deposit of funds therein. 3. TFD Add-On PIF Account. The TFD Add-On PIF Account will be established by the TFD PIC upon such terms as it deems appropriate using the TFD PIC's Federal Employer Identification Number. The TFD PIC's authorized representative(s), or such designees as the TFD PIC in its discretion may authorize, will be the only signatories, and SDMS will not be a signatory on this account or have authority to transfer funds from or draw checks on this account. The TFD PIC may move this account from the Wells Fargo Bank branch location identified above to another bank only upon after providing SDMS with thirty (30) days' prior written notice thereof, together with written instructions for SDMS' deposit of funds therein. SECTION 2 CREDIT PIF/CONTINGENT PIF TRUSTEE FUNCTIONS 2.1. Duties. The P!Cs hereby appoint SDMS as trustee, and SDMS hereby accepts such appointment, for purposes of performing all trustee duties and responsibilities as set forth in this Section 2 with respect to the Credit PIF Revenues and, to the extent applicable, the Contingent PIF Revenues. During the term of this Agreement, SDMS will receive all Credit PIF Revenues and, to the extent applicable, Contingent PIF Revenues from PIF Obligors, and will deposit all Credit PIF Revenues and, to the extent applicable, Contingent PIF Revenues in the Credit/Contingent PIF Trust Account as required by Subsection l .4(a) and, to the extent applicable, Subsection l.4(c). SDMS will thereafter hold in trust and administer the Credit PIF Revenues and, to the extent applicable, Contingent PIF Revenues deposited in the Credit/Contingent PIF Trust Account as provided in this Section 2. 2.2. Trustee Functions. During the term of this Agreement and for so long as the Credit PIF or the Contingent PIF, if applicable, is imposed pursuant to the terms and conditions of the PIF Covenant, and until all Credit PIF Revenues and all Contingent PIF Revenues, if applicable, have been disbursed pursuant to the terms and conditions of this Section 2, SDMS will perform the following trustee functions: 6926)2.9 (a) Deposit of Credit/Contingent PIF Revenues. Pursuant to Subsections l.4(a) and l.4(c), SDMS will deposit all Credit PIF Revenues and Contingent PIF Revenues in the Credit/Contingent PIF Trust Account to be established pursuant to Subsection l.4(d)I. (b) Title to Credit/Contingent PIF Revenues. Except as provided in Section 2.3, title to the Credit PIF Revenues and the Contingent PIF Revenues on deposit in the Credit/Contingent PIF Trust Account from time to time will remain vested in the P!Cs, or in SDMS on behalf of the Pl Cs, but subject always to the use thereof required to be made by the provisions of this Agreement, the PIF Covenant and the PIRA. SDMS will hold all such Credit PIF Revenues and Contingent PIF Revenues in the Credit/Contingent PIF Trust Account as a special trust account separate and wholly segregated from all other securities and funds of SDMS. Notwithstanding the foregoing, 6 6926)2.9 the PIF Revenues on deposit in the Credit/Contingent PIF Trust Account will not be subject to checks drawn by the P!Cs, the Developers or the Town, or otherwise subject to their order, except for Certifications of Eligible Costs submitted by the PICs in accordance with Subsection 2.2(c) and except for investment instructions as set forth in Subsection 2.2(a). (c) Certification of Eligible Costs. As each PIC incurs Eligible Costs (including reimbursement obligations to the applicable Developer for Eligible Costs incurred and advanced by the Developer pursuant to the reimbursement agreements between the applicable PIC and the applicable Developer), and as a condition precedent to SDMS' disbursement of Credit PIF Revenues and/or Contingent PIF Revenues from the Credit/Contingent PIF Trust Account in reimbursement therefor, the applicable PIC will deliver to SDMS, with a copy thereof delivered concurrently to the Finance Director, a properly completed and fully executed Certification of Eligible Costs containing all information required therein. To the extent that either PIC incurs additional Accrued Interest on the principal amount of Eligible Costs submitted in a prior month for which it has not received reimbursement from SDMS pursuant to Subsection 2.2(d) (e.g., because there were not sufficient funds available for disbursement from the Credit/Contingent PIF Account,) the PIC may include such additional Accrued Interest for the next succeeding month in a subsequent Certification of Eligible Costs for such next succeeding month until fully reimbursed therefor. Each PIC will submit no more than one (I) Certification of Eligible Costs in any given month, and will submit each such Certification of Eligible Costs on or before the 201h of that month (or the next following business day if the 20 1h is not a business day). For purposes of the foregoing, a Certification of Eligible Costs may be mailed, faxed, emailed, delivered by messenger service or hand delivered to SDMS and the Finance Director and, if mailed, will be deemed submitted by the 20 1h of the month if it is post-marked on or before the 20 1h. Any Certification of Eligible Costs that is not timely submitted on or before the 20'h of a particular month pursuant to the foregoing will be deemed submitted to SDMS and the Finance Director as of the immediately following month. After timely receipt of a Certification of Eligible Costs, SDMS will either: (i) disburse funds to the certifying PIC as requested therein pursuant to Subsection 2.2(d); or (ii) deliver to the certifying PIC a written notice that the Certification of Eligible Costs is not Facially Valid, together with a detailed explanation of the reasons for the determination of invalidity, with a concurrent copy to the Finance Director, no later than the first (l") business day of the month following receipt of the applicable Certification of Eligible Costs. The applicable PIC may submit a corrected Certification of Eligible Costs which cures the asserted invalidity, or may submit a detailed written response to SDMS' notice of invalidity with a concurrent copy to the Finance Director further justifying the matter(s) to which objection has been made or otherwise disputing the basis of the objection. If the applicable PIC disputes SDMS' determination of invalidity and such dispute is not resolved within forty-five (45) days after the date of SDMS' written notice of invalidity, either SDMS or the applicable PIC may submit the dispute for resolution pursuant to Section 4.23. (d) Disbursement and Allocation of Credit/Contingent PIF Revenues. For each month during the term of this Agreement, SDMS will make disbursements of Credit PIF Revenues and/or Contingent PIF Revenues to the applicable PIC(s) in reimbursement 7 69l6J19 of Eligible Costs (including reimbursements for Eligible Costs by the applicable PIC to the applicable Developer for principal advanced and Accrued Interest thereon pursuant to reimbursement agreements executed by such parties) only upon timely receipt of a Facially Valid Certification of Eligible Costs as provided in Subsection 2.2(c). In performing its obligations pursuant to this Subsection 2.2(d), SDMS will be responsible for confirming that each Certification of Eligible Costs contains all required information and certifications and is otherwise Facially Valid, but will be entitled to rely on the accuracy of the Certifications of Eligible Costs and will have no obligation to further investigate or independently verify the information certified or otherwise set forth therein. On or before the fifth (S'h) business day of each month during the term of this Agreement, but not before the first (1 51 ) business day of such month, SDMS will disburse to each PIC, as applicable, an amount of Credit PIF Revenues and/or Contingent PIF Revenues equal to the amount set forth in Facially Valid Certifications of Eligible Costs that was timely submitted pursuant to Subsection 2.2(c) in the immediately preceding month and, to the extent either or both P!Cs have pending and unpaid Facially Valid Certifications of Eligible Costs for prior months, in prior months; provided, however, that SDMS' obligation to disburse such funds is subject to the availability of funds in the Credit/Contingent PIF Trust Account, including compliance with any minimum balance requirement imposed with respect to the Credit/Contingent PIF Trust Account by the financial institution with which the Credit/Contingent PIF Trust Account is maintained from time to time, and is further subject to the overall Cap Amount and the provisions of this Subsection 2.2(d) and the objection rights of the Finance Director pursuant to Subsection 2.2(e). SDMS will make and maintain an accounting of the amount of Credit PIF Revenues and/or Contingent PIF Revenues that have been disbursed to the AFW PIC and/or the TFD PIC, respectively, for the AFW Improvements and the TFD Improvements, respectively (based solely on the Certifications of Eligible Cost submitted to SDMS by the applicable PIC pursuant to Subsection 2.2(c)), to reimburse the AFW PIC for the AFW Costs and to reimburse the TFD PIC for the TFD Costs, and will include an updated summary of the same in each Monthly PIF Report and each annual audit. SDMS will allocate each monthly disbursement of Credit PIF Revenues and or Contingent PIF Revenues between AFW and TFD, as follows: I. AFW Costs. The AFW PIC will be entitled to receive reimbursement from funds on deposit in the Credit/Contingent PIF Trust Account a maximum aggregate amount of Credit PIF Revenues and/or Contingent PIF Revenues equal to the AFW Costs (together with Accrued Interest). 2. TFD Costs. The TFD PIC will be entitled to receive reimbursement from funds on deposit in the Credit/Contingent PIF Trust Account a maximum aggregate amount of Credit PIF Revenues and/or Contingent PIF Revenues equal to the TFD Costs (together with Accrued Interest). 3. Allocation Between P!Cs. (A) Prior to the date on which either PIC has received Credit PIF Revenues and/or Contingent PIF Revenues sufficient to fully reimburse the AFW Costs or the TFD Costs (together with Accrued Interest), as applicable, 8 SDMS will disburse available Credit PIF Revenues and/or Contingent PIF Revenues on deposit in the Credit/Contingent PIF Trust Account in the following allocation: (i) AFW PIC-34.14%; and (ii) TFD PIC -65.86%. In implementing this Subsection 2.2(d)3(A), SDMS will disburse available Credit PIF Revenues and/or Contingent PIF Revenues in the foregoing allocations as applied to reimbursement requests pursuant to Certifications of Eligible Costs submitted pursuant to Subsection 2.2(c) during any period in which both the AFW PIC and the TFD PIC have Facially Valid Certifications of Eligible Costs pending and unpaid. However, if either PIC does not have a pending and unpaid Facially Valid Certification of Eligible Costs at a time when Credit PIF Revenues and/or Contingent PIF Revenues are available for reimbursement and the other PIC does have a pending unpaid Facially Valid Certification of Eligible Costs submitted to SDMS, then SDMS will be authorized to disburse up to I 00% of the then available Credit PIF Revenues and/or Contingent PIF Revenues to satisfy such PIC's pending and unpaid Facially Valid Certification(s) of Eligible Costs; provided, however, that for purposes of the foregoing any Certification of Eligible Costs that is in whole or in part the subject of a notice of invalidity pursuant to Subsection 2.2(c) or an objection pursuant to Subsection 2.2(e) will be deemed a provisionally Facially Valid Certification of Eligible Costs and SDMS will not disburse up to 100% of the then available Credit PIF Revenues and/or Contingent PIF Revenues to the other PIC, but will instead disburse any undisputed amount pursuant to the allocations set forth above and hold the disputed allocation in the Credit/Contingent PIF Trust Account pending resolution of the dispute. (B) After the date on which either PIC (but not both PICs) has received full reimbursement of the AFW Costs or TFD Costs (together with Accrued Interest), as applicable, SDMS will disburse up to I 00% of available Credit PIF Revenues and/or Contingent PIF Revenues then on deposit in the Credit/Contingent PIF Trust Account to the other PIC upon receipt of a Facially Valid Certification of Eligible Costs. After all AFW Improvements and TFD Improvements to be constructed have been constructed and granted final acceptance by the Town, and to the extent that one of the PICs (as reflected in one or more Facially Valid Certifications of Eligible Costs submitted in accordance with and subject to the tenns and conditions of the PIRA and this Agreement) has incurred actual costs for Eligible Expenses in excess of the total TFD Costs or total AFW Costs, as applicable, as set forth in Exhibit H of this Agreement, SDMS will be authorized, subject to the overall Cap Amount, to allocate and disburse to the PIC with excess Eligible Costs an amount of Credit PIF Revenues and/or Contingent PIF Revenues up to the amount of Credit PIF Revenues and/or Contingent PIF Revenues, if any, that were not utilized by the other PIC. 4. Allocation Between Principal and Accrued Interest; FIFO Principles. For purposes of accounting for the allocation of Accrued Interest and principal reduction of each PIC's respective allocation of the Cap Amount with respect to each monthly disbursement of Credit PIF Revenues and/or Contingent PIF Revenues, SDMS will apply available funds first to payment of Accrued Interest and then to principal. Subject to the foregoing and to Subsection 2.2(d)3, to the extent SDMS has at 9 6926319 any time received Facially Valid Certifications of Eligible Costs in an amount that exceeds the amount of Credit PIF Revenues and/or Contingent PIF Revenues available for disbursement from the Credit/Contingent PIF Account, SDMS will apply funds as they become available for subsequent monthly disbursements to satisfy such previously received Facially Valid but unpaid Certifications of Eligible Costs in the order in which they were submitted. In complying with the foregoing, SDMS will be entitled to rely on the accuracy of the Certificates of Eligible Costs for determining the amount of Accrued Interest without obligation to investigate or independently verify the information contained therein. 5. Priority of Credit/Contingent PIF Revenues. Pursuant to and as more fully set forth in Subsection 2.2(g), if the Credit/Contingent PIF Trust Account contains both Credit PIF Revenues and Contingent PIF Revenues, in disbursing funds as provided in Subsection 2.2(d), SDMS will disburse first from Credit PIF Revenues (and interest earned thereon) then on deposit in the Credit/Contingent PIF Trust Account, and will disburse from Contingent PIF Revenues (and interest earned thereon) then on deposit in the Credit/Contingent PIF Trust Account only after all Credit PIF Revenues (and interest earned thereon) have been disbursed. 6. Example for Purposes of Illustration. By way of example only and for avoidance of doubt, the following example illustrates the methodology to be used by SDMS in disbursing funds from the Credit/Contingent PIF Trust Account and accounting therefor: (A) In Month x, SDMS has received in the immediately preceding month and has on hand from prior months pending and unpaid Facially Valid Certifications of Eligible Costs: (i) from the AFW PIC, a total of $5,000,000, consisting of $3,500,000 principal and $1,500,000 Accrued Interest; and (ii) from the TFD PIC, a total of $3,000,000, consisting of $2,000,000 principal and $ I ,000,000 Accrued Interest. The Credit/Contingent PIF Trust Account contains $500,000 of available Credit PIF Revenues and $500,000 of available Contingent PIF Revenues. SDMS will disburse and account for the PIF Revenues as follows: (1) from the available Credit PIF Revenues, (I) to the AFW PIC, a total of$170,700 (34.14% of$500,000) to be applied to Accrued Interest; and (II) to the TFD PIC, a total of $329,300 (65.86% of $500,000) to be applied to Accrued Interest; and then (2) from available Contingent PIF Revenues, (I) to the AFW PIC, a total of $170,700 (34.14% of $500,000) to be applied to Accrued Interest; and (II) to the TFD PIC, a total of $329,300 (65.86% of $500,000) to be applied to Accrued Interest. In this example, after making the foregoing disbursements and assuming it receives no additional Certifications of Eligible Costs in the interim, SDMS will have pending and unpaid Facially Valid Certifications of Eligible Costs to be paid in future months: (a) from the AFW PIC, a total of $4,658,600, consisting of $3,500,000 principal and $1,158,600 Accrued Interest; and (b) from the TFD PIC, a total of $2,341,400, consisting of $2,000,000 principal and $341,400 Accrued Interest. 10 691(l)J9 (e) Right of Finance Director to Object to Certification of Eligible Costs. After timely receipt of a copy of a Certification of Eligible Costs pursuant to Subsection 2.2(c), the Finance Director may deliver to SDMS, with a copy thereof to the certifying PIC, on or before the last business day of the month in which the Finance Director receives the Certification of Eligible Costs, a written objection to all or any designated portion of the Certification of Eligible Costs, together with a detailed explanation of the basis upon which the Finance Director objects to the validity of the disbursement request. If SDMS receives a timely objection from Finance Director, it will disburse any funds that are not subject to the objection as otherwise provided in Subsection 2.2(d), but will not disburse any funds which are subject to dispute and will instead hold such funds in the Credit/Contingent PIF Trust Account pending resolution of the dispute. Any party to a dispute that is not resolved within forty-five (45) days may submit the dispute for resolution pursuant to Section 4.23. (f) Absolute Ceiling on Amounts Payable. Any disbursement of Credit PIF Revenues and/or Contingent PIF Revenues on deposit in the Credit/Contingent PIF Trust Account will be counted against the Cap Amount. The aggregate amount of Credit PIF Revenues and/or Contingent PIF Revenues that the P!Cs collectively may receive for reimbursement of Eligible Costs pursuant the tenns and conditions of this Agreement will not exceed the Cap Amount, allocated to the AFW PIC and the TFD PIC, respectively, as set forth in Exhibit H. To the extent any Credit PIF Revenues remain on deposit in the Credit/Contingent PIF Trust Account after the Cap Amount (i.e., $1 I ,000,000 in principal, plus Accrued Interest) has been reach, SDMS will provide written notice thereof to the Finance Director and each PIC, and will remit such excess Credit PIF Revenues to the Town pursuant to written instructions to be provided by the Finance Director. To the extent any Contingent PIF Revenues remain on deposit in the Credit/Contingent PIF Trust Account after the Cap Amount has been reached, SDMS will provide written notice thereof to each PIC and will, unless otherwise directed in written instructions executed by each PIC and delivered to SDMS, remit such excess Credit PIF Revenues to the PICs using the allocation percentages set forth in Subsection 2.2(d)3(A). (g) Disposition of Funds Upon the Occurrence of a Sale/Use Tax Credi/ Termination. Upon the occurrence of a Sales/Use Tax Credit Termination prior to expiration of the Credit PIF Period, the PIF Covenant requires that PIF Obligors will be obligated to pay the Contingent PIF and to remit all Contingent PIF Revenues to SDMS. If under such circumstances there are Credit PIF Revenues then remaining on deposit in the Credit/Contingent PIF Trust Account, SDMS will maintain separate accounting of such Credit PIF Revenues, together with interest earned thereon, and will disburse all such Credit PIF Revenues prior to disbursing any Contingent PIF Revenues, including interest earned thereon then on deposit or subsequently received, in the following priority: I. to the extent that the Cap Amount has not been reached and either PIC has one or more pending Certifications of Eligible Costs for which SDMS has not disbursed Credit PIF Revenues to reimburse the applicable PIC (including principal and Accrued Interest advanced by the applicable Developer for Eligible Costs pursuant to a reimbursement agreement with the applicable Developer), or either PIC notifies SDMS in I I writing that it has Eligible Costs for which it has not yet submitted a Certification of Eligible Costs, SDMS will retain the Credit PIF Revenues in the Credit/Contingent PIF Trust Account until each PIC has been fully reimbursed for its Eligible Costs from Credit PIF Revenues disbursed pursuant to Certifications of Eligible Costs submitted in accordance with Subsection 2.2(c) or there are no Credit PIF Revenues remaining on deposit in the Credit/Contingent PIF Trust Account; 2. and then, after each PIC has been fully reimbursed for its portion of the Eligible Costs included in any Certification of Eligible Costs submitted to SDMS, and to the extent there are Credit PIF Revenues then remaining on deposit in the Credit/Contingent PIF Trust Account, SDMS will disburse such funds to the Town in accordance with written instructions to be provided by the Finance Director. Notwithstanding the occurrence of a Salesli.Jse Tax Credit Termination, all Credit PIF Revenues due and payable from ·PIF Obligors prior to the effective date of the Sales/Use Tax Credit Termination will continue to be collected by SDMS as otherwise provided in this Agreement and the PIF Covenant. 2.3. Post-Credit PIF Period. Provided there has not been a Sales/Use Tax Credit Termination prior to expiration of the Credit PIF Period, if the Town determines after expiration of the Credit PIF Period that termination of the Sales/Use Tax Credit may be precluded by or require a refund under Article X, Section 20 of the Colorado Constitution, the Finance Director may submit a written request in accordance with the PIRA that the P!Cs continue collecting the Credit PIF Revenues and remit the funds therefrom to the Town, in which case the Sales/Use Tax Credit will continue. Upon timely receipt of the Finance Director's request, Developers will continue to impose the Credit PIF in accordance with the PIRA and SDMS will continue to collect the Credit PIF Revenues pursuant to the PIF Covenant and this Agreement until such time as a Sale/Use Tax Credit Termination occurs. During such post-Credit PIF period, title to the Credit PIF Revenues generated from PIF Sales and/or Construction Activities occurring after expiration of the Credit PIF Period will be vested in the Town, and SDMS will account for such post-Credit PIF Period Credit PIF Revenues and interest earned thereon separately from any Credit PIF Revenues and interest earned thereon generated from PIF Sales and/or Construction Activities occurring prior to expiration of the Credit PIF Period (title to which will remain vested in the P!Cs as otherwise provided in this Agreement). SDMS will remit to the Finance Director all such post-Credit PIF Period Credit PIF Revenues actually collected, less SDMS' actual direct and indirect costs and expenses incurred, on a quarterly basis in arrears (i.e., funds for the prior quarter will be remitted at the end of the subsequent quarter), and SDMS is hereby authorized to deduct such fees and costs from available Credit PIF Revenues prior to remitting any funds to the Finance Director. Pursuant to Subsection 4.S(d), the Town will be responsible for all fees and costs incurred by SDMS in collecting, remitting and otherwise administering such Credit PIF Revenues during the Post-Credit PIF Period, including costs and fees billed after final disbursement of all remaining Credit PIF Revenues from the Credit/Contingent PIF Trust Account. Pursuant to its resolution adopted on November 16, 2006, the Town has approved the form of this Agreement and has agreed to be bound by the terms of this Section 2.3. 2.4. Fidelity Bond. Upon receiving a written request therefor from either PIC, SDMS wi II obtain and thereafter maintain in full force for so long and in such amount as set forth in such written request, a fidelity bond in a form and from an issuer approved by the requesting 6916)19 12 PIC(s). The cost of the fidelity bond will be a reimbursable expense of SDMS to be paid by the PICs pursuant to the Pro Raia Cost Allocation but without utilizing Credit PIF Revenues. SECTION3 PREPARATION AND DISTRIBUTION OF REPORTS; AUDITS 3.1. Preparation of Daily PIF Receipts Report by SDMS. For each business day within the term of this Agreement with respect to which it receives PIF Revenues from any PIF Obligor, SDMS will prepare a Daily PIF Receipts Report containing all information required therein with respect to all PIF Revenues received on the applicable date. SDMS will retain the original of each Daily PIF Receipts Report for a minimum of three (3) years after the last day of the relevant calendar year, together with the originals of each Credit PIF Report, each Add-On PIF Report and, if applicable, each Contingent PIF Report (together with all backup documentation submitted therewith) received on the relevant date from each PIF Obligor. 3.2. Preparation and Delivery of Monthly PIF Reports by SDMS. For each calendar month or portion thereof within the term of this Agreement, SDMS will prepare a Monthly PIF Report containing all information required therein with respect to all PIF Revenues received within such month. SDMS will retain the original of each Monthly PIF Report for a minimum of three (3) years after the last day of the relevant calendar year. On or before the I 5•h calendar day following the last day of the preceding calendar month, SDMS will deliver a copy of each Monthly PIF Report to each PIC, AFW, TFD and, for each month during which Credit PIF Revenues have been received or disbursed, the Finance Director. 3.3. Reliance on PIF Obligors' Reports. In preparing the Daily PIF Reports and the Monthly PIF Reports, SDMS will be entitled to rely on the accuracy of the information contained in the Credit PIF Reports, Add-On PIF Reports and, if applicable, Contingent PIF Reports received from PIF Obligors from time to time without obligation to investigate or independently verify the information contained therein. 3.4. Provision of PIF Information. Within ten (10) days after receipt of written notice from the PICs or any other Person, and on or before January I of each calendar year, SDMS will provide each Sales Fee Obligor listed on the Sales Fee Obligor List with (i) all then current Information or policies and procedures adopted by the PICs regarding the calculation, payment and reporting of PIF Revenues, and (ii) all then current reporting forms (including Credit PIF Reports, Add-On PIF Reports and, if applicable, Contingent PIF Reports), procedures and other instructions concerning the collection and remittance of PIF Revenues to SDMS, including all information required under the PIF Covenant. In performing the foregoing obligation, SDMS will be entitled to rely on information supplied to it by the PICs and the Finance Director, and will coordinate with the PICs and the Finance Director to update all Information and relevant forms prior to distributing them to PIF Obligors. If any Party changes such reporting forms, procedures or other instructions, such Party will promptly communicate such changes to SDMS and the other Parties, and SDMS will provide notice thereof to all Sales Fee Obligors then listed on the Sales Fee Obligor List. It is the intent of the Parties hereto that all forms, reports and instructions will be substantially similar in forin to those used or required by COOR and/or the Town for remittance of Sales Taxes and Use Taxes, as applicable. SDMS will function as the primary contact for Sales Fee Obligors and Use Fee Obligors with respect to 692612.9 13 Infonnation and other fonns, procedures and instructions pertinent to collection and remittance of PIF Revenues, and will coordinate with the PI Cs with respect thereto. 692612 9 3.5. Delinquency Notices for Sales Fee Obligors. (a) First Delinquency Notices. Not later than the I 5th day following the applicable Fee Remittance Date, SDMS will send a first delinquency notice by certified mail to any Sales Fee Obliger that: (i) fails to remit PIF Revenues during the immediately preceding or any other prior Reporting Period; or (ii) SDMS has reasonably detennined based solely on information contained in the Sales Fee Obliger's Credit PIF Reports, Add-On PIF Reports and/or Contingent PIF Reports, without obligation to investigate or independently verify the accuracy of such information, to have remitted an incorrect amount for. any prior Reporting Period. In making any such delinquency detennination, SDMS will coordinate with the Finance Director as reasonably necessary. Such delinquency notice will state that interest at the Default Rate (as defined in the PIF Covenant) is automatically accruing on the delinquent amount of PIF Revenues and that the late charge (as set forth in the PIF Covenant) applies. SDMS will send copies of all first delinquency notices to the PICs, the Developers and, for so long as there has been no Sales/Use Tax Credit Termination, to the Finance Director, together with a report listing the name of each Sales Fee Obliger to whom a first delinquency notice was sent, the amount of such delinquency, and the period for which such Sales Fee Obligors are delinquent. (b) Second Delinquency Notices. Not later than the l 5th day following SDMS' issuance of the first delinquency notice as required by Subsection 3.S(a), SDMS will send a second delinquency notice by certified mail to any Sales Fee Obliger that has not paid any delinquent amount of PIF Revenues as specified in the first delinquency notice. SDMS will send copies of such second delinquency notices to the PICs, the Developers and, for so long as there has been no Sales/Use Tax Credit Termination, the Finance Director, together with a report listing the name of each Sales Fee Obliger to whom a second delinquency notice was sent, the amount of such delinquency, and the period for which such Sales Fee Obligors are delinquent. SDMS will not be obligated to distribute additional delinquency notices to any Sales Fee Obliger after the second delinquency notice. (c) Other Actions. In addition to the first and second delinquency notices provided for in Subsections 3.5(a) and 3.5(b), SDMS will, upon receipt of a written request therefor by either PIC, either Developer or the Finance Director, send a written notice to any Sales Fee Obliger whom the PIC(s), the Developer(s) or the Finance Director believes has not fully complied with its obligations under the PIF Covenant, specifying the nature and extent of such Sales Fee Obliger's non-compliance and requesting that such Sales Fee Obliger immediately remedy such non-compliance. Each requesting PIC, Developer and/or the Finance Director will provide SDMS with infonnation sufficient to enable SDMS to prepare and send such notice, and SDMS will provide a copy of all such notices to each PIC, each Developer and, so long as there has been no Sales/Use Tax Credit Termination·, the Finance Director. In sending the notice required by this Subsection 3.5(c), SDMS may rely upon the infonnation furnished by the 14 person requesting the notice without any obligation to investigate or independently verify such information. Other than the obligation to send the notices provided for in Subsections 3.S(a) and 3.S(b), SDMS will have no obligation to undertake any enforcement action of any nature. 3.6. Delinquency Notices for Use Fee Obligors. If either PIC, either Developer or the Finance Director believes that any Use Fee Obligor has failed to fully satisfy its obligation to pay any Credit PIF Revenues, Add-On PIF Revenues or, to the extent applicable, Contingent PIF Revenues owing with respect to any Construction Activity, or that the applicable PIC has failed to remit such PIF Revenues to SDMS after receiving payment thereof from a Use Fee Obligor, and provides written notice thereof to SDMS, SDMS will deliver written notice and demand for payment to the applicable Use Fee Obligor or PIC, and will deliver copies thereof to each PIC, each Developer and, for so long as there has been no Sales/Use Tax Credit Termination, to the Finance Director. SDMS will have no obligation to send any further notice or to independently investigate or verify whether any Use Fee Obligor or PIC has failed to pay, collect or remit any PIF Revenues with respect to any Construction Activity. 3. 7. Confidentiality of PIF Reports. Except to the extent required to be included in any report or to be made available for review and audit as required or permitted under the terms of this Agreement, SDMS will maintain in confidence all reports, information or data concerning Taxable Transactions or PIF Revenues received by SDMS from PIF Obligors unless otherwise required to be made public by law. All such information will be used only for purposes of collecting the PIF Revenues, enforcing PIF Obligors' obligations under the PIF Covenant, monitoring compliance with the provisions of the PIF Covenant, complying with SDMS' reporting obligations under this Agreement to the PI Cs, the Developers and the Finance Director, or as otherwise may be authorized under the PJF Covenant. 3.8. Audits. Within thirty (30) calendar days after the end of each calendar year, SDMS will prepare and deliver to an auditor approved in writing by the PICs all materials necessary for preparation of an audit of SDMS' accounting of all PIF Revenues received and disbursed in the immediately preceding calendar year. SDMS will exercise commercially reasonable efforts to cause the auditor to provide to SDMS an annual audited report setting forth the PIF Revenues received and disbursed by SDMS for the preceding calendar year for delivery to the PICs and, for so long as there has been no Sales/Use Tax Credit Termination, to the Finance Director within ninety (90) calendar days after the end of the preceding calendar year. In compiling the information to be provided for the audit, SDMS may rely on information provided as required or permitted under this Agreement without any further obligation to investigate or independently verify the accuracy of such information. Pursuant to the Pro Rata Cost Allocation, the PICs will reimburse SDMS for its reasonable costs and expenses incurred in performing and delivering the annual audit; provided, however, that no Credit PIF Revenues may be used to pay for such costs. At reasonable times during regular business hours, each PIC is hereby authorized to audit, or cause audits to be conducted of, SDMS' books and records with respect to the collection and disbursement of PIF Revenues. Additionally, at any time prior to one(!) year after SDMS has disbursed all Credit PIF Revenues from the Credit/Contingent PIF Trust Account, the Finance Director is hereby authorized to audit, or cause audits to be conducted at reasonable times during regular business hours of SDMS' books and records with respect to the collection and disbursement of Credit PIF Revenues, with the cost thereof to be 692632 9 15 paid by the P!Cs as provided above (except during the post-Credit PIF Period discussed in Section 2.3, with respect to which such costs will be paid by the Town). If an independent audit uncovers any deficiency in SDMS' perfonnance of its obligations under this Agreement, SDMS will promptly cure such deficiency and, to the extent such deficiency consists of SDMS' failure to disburse PIF Revenues to the PI Cs due to the negligence or misconduct of SDMS, SDMS will, within sixty (60) days after notice from the P!Cs, pay the full amount of such deficiency to the P!Cs, together with interest thereon at a rate equal to 2% above the prime rate published in the Wall Street Journal on the date of discovery of such deficiency and notice thereof to SDMS. The Party(ies) perfonning any such audit will bear the full costs and expense of perfonning such audit, and will reimburse SDMS for its reasonable costs and expenses incurred in connection therewith as provided above; provided, however, that SDMS will be responsible for all costs and expenses of any audit which discloses a material deficiency in SDMS' perfonnance of its obligations under this Agreement to the extent such deficiency is due to the negligence or misconduct ofSDMS. 6916l2 9 SECTION 4 GENERAL 4.1. Covenants of the Parties. (a) Representations and Warranties. Each Party hereby represents and warrants to and for the benefit of the other Parties: I. That it has full power and legal authority to enter into this Agreement; 2. That it has taken or perfonned all acts or actions that may be required by statute or charter to confinn its authority to execute, deliver and perfonn each of its obligations under this Agreement; and 3. That neither the execution and delivery of this Agreement, nor compliance with any of the tenns, covenants or conditions of this Agreement will result in a violation of or default under any other agreement or contract to which it is a party or by which it is bound. (b) Information. From time to time but not later than the last day of each calendar month commencing with the date of execution of this Agreement, each Party will, to the extent that it has actual knowledge thereof, provide to the other Parties a current listing of the name and address of each Sales Fee Obligor within Firestone City Centre and the date of opening of the Sales Fee Obligor's store or operation. Each Party will provide such other infonnation reasonably requested by the other Parties to allow such Parties to fulfill their respective obligations under this Agreement and the PIF Covenant, as applicable. (c) Cooperation. The Parties will cooperate with each other and will undertake any reasonably necessary action that is required to support or assist in the collection, remittance and reporting of all PIF Revenues payable by PIF Obligors pursuant to the PIF Covenant. 16 4.2. Nature of PIF. The Parties acknowledge and understand that: (i) the Public Improvements Fee is a charge imposed pursuant to the PIF Covenant for the benefit of the Developers, the P!Cs and other beneficiaries specified therein and not through the exercise of any power by the Town; (ii) the PIF Revenues are not tax revenues in any form; (iii) all PIF Revenues are the property of the Pl Cs to be used for the purposes set forth in the PIF Covenant and, with respect to the Credit PIF Revenues, subject to the terms and conditions of the PIRA; and (iv) SDMS' role in assisting the P!Cs to collect the PIF Revenues is derived through this Agreement and is limited by and will be exercised only in accordance with the terms of this Agreement. Notwithstanding any provision to the contrary herein, the PlCs are and will remain the "PIF Collecting Agent" as defined in the PIF Covenant, and the Parties expressly agree that, by entering into this Agreement, the P!Cs are not exercising their authority under the PIF Covenant to appoint SDMS as a successor PIF Collecting Agent. 4.3. Bankruptcy of PIF Obligors. If any Party receives actual notice in writing with respect to any action in the bankruptcy of any PlF Obligor, such Party will, as soon as practicable, give notice or convey copies of such notice which it received to the other Parties. 4.4. Limitation of SDMS Duties. The duties and responsibilities of SDMS are limited to those expressly and specifically stated in this Agreement. SDMS will not be liable or responsible for any loss resulting from any investment or reinvestment made pursuant to this Agreement and made in compliance with the provisions hereof. SDMS will not be personally liable or responsible for any act which it may do or omit to do hereunder, while acting with commercially reasonable care, except for duties expressly imposed upon SDMS hereunder or as otherwise expressly provided herein. SDMS will neither be under any obligation to inquire into or be in any way responsible for the performance or nonperformance by the Pl Cs, the Developers or the Town of any of their respective obligations under this Agreement, the PIF Covenant or the PIRA, nor will SDMS be responsible in any manner for the recitals, statements or provisions contained in this Agreement, the PIRA or the PIF Covenant, or in any proceedings taken in connection therewith, such recitals, statements and provisions being made solely by the P!Cs, the Developers and/or the Town, as applicable. Nothing in this Agreement creates any obligation or liability on the part of SDMS to anyone other than the PI Cs and the Developers. 4.5. Compensation. In consideration of SDMS' performance of services under this Agreement, SDMS will receive such fees, reimbursable expenses and extraordinary reimbursable expenses as determined by the Parties and described in Exhibit G. The rates described in Exhibit G will be subject to annual adjustment by the written mutual consent of the Parties. No new fee schedule will become effective until thirty (30) days after SDMS has given the PlCs written notice thereof. Except with respect to specific matters expressly addressed in other provisions of this Agreement to the contrary, the P!Cs will pay all fees and expenses owed to SDMS for its services pursuant to this Agreement, in accordance with the Pro Rata Cost Allocation, and such fees and expenses will not be paid from Credit PIF Revenues. Payment will be made to SDMS on a monthly basis for the prior month's fees and charges within thirty (30) days after receipt of SDMS' statement therefor. Without limitation of the foregoing: (a) The P!Cs will be solely responsible for payment of SDMS' costs and expenses for administration of the Credit PIF Revenues (except as provided in 6916)2 9 17 Subsection 4.5(d)) and, if applicable, Contingent PJF Revenues pursuant to this Agreement in accordance with the Pro Rata Cost Allocation. (b) The AFW PIC will be solely responsible for payment of SDMS' costs and expenses for administration of the Add-On PIF Revenues to be deposited into the AFW Add-On PIF Account. (c) The TFD PIC will be solely responsible for payment of SDMS' costs and expenses for administration of the Add-On PIF Revenues to be deposited into the TFD Add-On PIF Account. (d) The Town will be solely responsible for payment of SDMS' costs and expenses for administration of Credit PIF Revenues generated during the post-Credit PIF Period as contemplated by Section 2.3 and for audit expenses to the extent set forth in Section 3.8. Except as expressly provided in Sections 2.3 and 3.8, the Town will have no liability to SDMS with respect to payment of SDMS' fees, costs, expenses and/or charges pursuant to this Agreement. (e) The P!Cs will be solely responsible for payment of SDMS' reasonable costs and expenses, including attorneys' fees, incurred prior to execution of this Agreement for negotiation of this Agreement and for activities in furtherance of entering into this Agreement, such payment to be made in accordance with the Pro Rata Cost Allocation within thirty (30) days after receipt of SDMS' invoice therefor. 4.6. Resignation; Removal. SDMS may resign as the P!Cs' agent under this Agreement by submitting a written notice of resignation to the Pl Cs and, so long as Credit PIF Revenues remain in the Credit/Contingent PIF Trust Account given not less than three (3) months before the date upon which such resignation is intended to take effect. SDMS' resignation will be effective on the resignation date set forth in such notice. The P!Cs, with prior written consent of the Town for so long as Credit PIF Revenues remain in the Credit/Contingent PIF Trust Account, may remove SDMS as the P!Cs' agent for collection of the Credit PIF Revenues at any time with or without cause. Without the requirement of obtaining the Town's prior written consent, either PIC may remove SDMS as that PIC's agent for collection of the Add-On PIF Revenues of such PIC and both P!Cs by joint action may remove SDMS as the P!Cs' agent for collection of the Contingent PIF Revenues, if applicable. Any such removal action will be effective immediately upon delivery of joint written notice by the P!Cs of such removal to SDMS unless the notice specifies a later removal date. Notwithstanding any provision to the contrary in this Agreement, SDMS' obligation to remit to the P!Cs (or to the Town pursuant to Sections 2.2(f) and/or 2.3, if applicable) any and all PIF Revenues received by SDMS pursuant to the terms and conditions of this Agreement will survive any such resignation or removal until all such PIF Revenues have been remitted to the P!Cs (or to the Town pursuant to Sections 2.2(f) and/or 2.3, if applicable) or control over such funds has been transferred to a successor PIF Collecting Agent/Trustee (as defined in the PIRA). No resignation or removal of SDMS will take effect until a successor PIF Collecting Agent/Trustee (as defined in the PIRA) has been appointed by the PI Cs; provided, that if no successor is appointed by the end of 90 days after delivery of written notice to SDMS of such removal, SDMS may petition a court of competent jurisdiction to appoint a successor. 6926ll9 18 4.7. Assignment. Except as provided below with respect to the Town and for the collateral assignment of this Agreement by a PIC or a Developer to any secured lender of such PIC or Developer, which assignment will not require the consent of any other Party, this Agreement will not be assigned by any Party for any reason other than to a successor by operation of law or with the prior written consent of the other Parties. Notwithstanding the foregoing or any other provision of this Agreement, the Town will have all the rights and obligations of the P!Cs and the Developers during the post-Credit PIF Period referenced in Section 2.3 with respect to Credit PIF Revenues generated from PIF Sales and Construction Activities occurring during the post-Credit PIF Period, and the P!Cs and the Developers will have not rights or obligations with respect to Credit PIF Revenues generated from PIF Sales and Construction Activities occurring during the post-Credit PIF Period except as set forth in Section 2.3. 4.8. Successors. Whenever in this Agreement the P!Cs, the Developers, the Town or SDMS is named or is referred lo, such provision is deemed to include any successor of the Pl Cs, the Developers, the Town or SDMS, respectively, immediate or intermediate, whether so expressed or not. The rights and obligations under this Agreement may be transferred by any Party to a successor. Any corporation or other legal entity into which a Party may be merged or converted or with which a Party may be consolidated or any corporation or other legal entity resulting from any merger, conversion, sale, consolidation or transfer to which that Party may be a party or any corporation or other legal entity to which SDMS may sell or transfer all or substantially all of its assets will be the successor to SDMS without the execution or filing of any document or any further act, anything herein to the contrary notwithstanding. All of the stipulations, obligations, and agreements by or on behalf of and other provisions for the benefit of the PI Cs, the Developers, the Town or SDMS contained in this Agreement: (a) will bind and inure to the benefit of any such successor, and (b) will bind and inure to the benefit of any officer, board, council, agent, or instrumentality to whom or to which there will be transferred by or in accordance with law any relevant right, power, or duty of the Pl Cs, the Developers or SDMS, or of their successors. 4.9. Third Party Beneficiaries. The Town is an express third party beneficiary of this Agreement with respect to Credit PIF Revenues that SDMS receives and/or disburses during the term of this Agreement, and with respect to the provisions of this Agreement regarding payment of SDMS' compensation for its services under this Agreement. Enforcement of the terms and conditions of this Agreement, and all rights of action relating to such enforcement, will be strictly reserved to the Parties (and/or to the Town, as applicable hereunder) and their duly authorized successors and assigns. Nothing contained in this Agreement will give or allow any such claim or right of action by any other Person with respect to this Agreement. 4.10. Binding Effect. This Agreement will inure to the benefit of and will be binding upon the Parties and their duly authorized successors and assigns. 4.11. Amendment. This Agreement may only be amended, changed, modified or altered by an instrument in writing duly executed by each Party. 19 4.12. Computation of Time. In computing a period of days, the first day will be excluded and the last day will be included. If the last day of any period is not a business day, the period will be extended to include the next succeeding business day. If a number of months is to be computed by counting the months from a particular day, the period will end on the same numerical day in the concluding month as the day of the month from which the computation is begun, unless there are not that many days in the concluding month, in which case the period will end on the last day of that month. 4.13. Payments Due on a Day other than a Business Day. If the date for making any payment or the last day for performance of any act or the exercising of any right as provided in this Agreement will be a day other than a business day, such payment may be made, or such act performed, or such right may be exercised on the next succeeding business day with the same force and effect as if done on the nominal date provided in this Agreement. 4.14. Severability. If any provision of this Agreement is held invalid or unenforceable by any court of competent jurisdiction, such holding will not invalidate or render unenforceable any other provision hereof and this Agreement will be reformed to most completely effectuate the intent of the Parties as reflected in the Agreement prior to such severance, including the intent of the severed provision to the extent such provision may be so reformed to cure the invalidity or unenforceability. 4.15. Execution in Counterparts. This Agreement may be executed in several counterparts, each of which will be an original and all of which will constitute but one and the same instrument. 4.16. Applicable Law. This Agreement will be governed by and construed in accordance with the laws of the State of Colorado. 4.17. No Indemnification by SDMS. SDMS will have no obligation to indemnify, hold harmless or defend the P!Cs, AFW, TFD, the Town or any other Person for any purpose whatsoever. 4.18. Indemnification by PICs. Each PIC, by execution of this Agreement by its authorized representative, hereby agrees, the costs thereof to be allocated pursuant to the Pro Rata Cost Allocation, to indemnify, defend and hold SDMS, its officers, directors, stockholders, and employees harmless from any and all claims, liabilities, losses, actions, suits or proceedings · at law or in equity, or any other expenses, fees, or charges of any character or nature, which it may incur or with which it may be threatened under this Agreement arising from or out of any claim in connection with the performance of any of the obligations of SDMS to be performed under this Agreement (for purposes of this Section 4.18, collectively, "Liabilities") except to the extent such Liabilities are caused by the negligence, willful misconduct or material breach of this Agreement by SDMS, its officers or employees. 4.19. Relationship to PIRA and PIF Covenant. Each PIC and each Developer acknowledges that its performance under this Agreement is subject in all respects to the terms and conditions of the PIRA and the PIF Covenant, that the terms and conditions of the PIRA and the PIF Covenant will control over any conflicting terms and conditions of this Agreement, and 692632.9 20 represents and warrants to SDMS (and to the Town as a third party beneficiary pursuant to Section 4.9) that in submitting Certifications of Eligible Costs and otherwise performing its duties and exercising its rights under this Agreement it will comply with the terms and conditions of the PIRA and the P!F Covenant. As such, SDMS is authorized to presume that all actions taken by each PIC and each Developer in connection with this Agreement comply with the terms and conditions of the PIRA and the P!F Covenant and to act accordingly in performing its obligations under this Agreement. · 4.20. Captions. The captions or headings herein are for convenience only and in no way define, limit or describe the scope or intent of any provision or Section of this Agreement. 4.21. Time of the Essence. Time is of the essence in the performance of the obligations from time to time imposed upon SDMS by this Agreement. 4.22. Notice. Any notice or other information to be given hereunder will be delivered personally or mailed postage prepaid, return receipt requested, to the following addresses: lfto SDMS: With a required copy to: If to the Town: With required copies to: Special District Management Services, Inc. 14 I Union Boulevard Suite I 50 Lakewood, CO 80228 Attn: Deborah D. McCoy Cathy S. Krendl Krendl Krendl Sachnoff & Way, P.C. 370 I 7'h Street, Suite 5350 Denver, CO 80202 Town of Firestone 151 Grant Ave., Box JOO Firestone, CO 80520 Light, Harrington & Dawes, P.C. 1512 Larimer Street, Suite 300 Denver, Colorado 80202 and Sherman & Howard LLC 633 17th Street, Suite 3000 Denver, Colorado 80202-3622 Attn: Sarah P. Tasker 21 If to AFW and/or AFW PIC: With a required copy to: If to TFD and/or TFD PIC: With a required copy to: American Furniture Warehouse, Co. 8820 American Way Englewood, CO 80 I 12 Attn: Bob Schwartz Ronald L. Antonio Antonio Bates Bernard PC 3200 Cherry Creek S. Drive, Suite 380 Denver, Colorado 80209 THF Realty, Inc. 2127 Innerbelt Business Center Drive Suite 200 St. Louis, MO 63114 Attn: Michael Staenberg Otten, Johnson, Robinson, Neff & Ragonetti, P.C. 950 Seventeenth Street, Suite I 600 Denver, CO 80202 Attn: Munsey L. Ayers, Jr. or such other address as a Party may, by written notice to the other Party or Parties, hereafter specify. Any notice will be deemed to be given upon mailing. The Parties may also specify, in writing, a different method for conveying notices or information. 4.23. Dispute Resolution. Any dispute arising under this Agreement that is not resolved by the applicable Parties (and the Town, to the extent it is a party to the dispute), within forty-five ( 45) days or such other period as may be specifically set forth in this Agreement may be submitted by any of the Parties, including SDMS (and the Town, to the extent it is a party to the dispute), for binding arbitration to a single arbiter of the Judicial Arbiter Group, 1601 Blake Street, Suite 400 Denver, Colorado 80202, utilizing a trial to the court model under streamlined rules and procedures to be mutually agreed upon by the applicable Parties or, if the Parties are not able to agree, as directed by the arbiter. The arbiter's decision will be final and non-appealable to the courts. The PICs will, pursuant to the Pro Rata Allocation and without utilizing Credit PIF Revenues, pay all of SDMS' reasonably attorneys' fees and costs arising from an arbitration, except to the extent such fees and costs are caused by the negligence, willful misconduct or material breach of this Agreement by SDMS, its officers or employees. IN WITNESS WHEREOF, the PICs, the Developers and SDMS have caused this Agreement to be executed as of the day and year first above written. (Signature Pages Follow This Page) 692612 9 22 b926)2 9 AMERICAN FURNITURE WAREHOUSE, CO., a Colorado Corporation By: ______________ _ Jacob Jabs, President AFW FIRESTONE PUBLIC IMPROVEMENT COMPANY, a Colorado nonprofit corporation By: ______________ _ Name: --------------Ti tie: --------------- 23 6926ll.9 THF FIRESTONE DEVELOPMENT, L.L.C., a Missouri limited liability company By: THF Firestone Investors, L.L.C., its Manager By: Michael H. Staenberg, Manager TFD FIRESTONE CITY CENTRE PUBLIC IMPROVEMENT COMPANY, a Colorado nonprofit corporation By: _____________ _ Name: _____________ _ Title: ______________ _ 24 6926)2 9 SPECIAL DISTRICT MANAGEMENT SERVICES, INC., a Colorado corporation By: ______________ _ Deborah D. McCoy, President 25 EXHIBIT A Definitions For purposes of the attached PIF Collection Services and Trustee Agreement, the following tenns have the following meanings, unless the context requires otherwise. Further, unless the context requires otherwise, the singular of any tenn includes the plural, and any reference to a Section or Exhibit is to a Section or Exhibit of the attached PIF Collection Services and Trustee Agreement. 1. Accrued Interest. In accordance with the P!RA, Interest accrued on the Eligible Costs by application of a per annum simple interest rate equivalent to the lower of (i) Prime Rate (defined below) or (ii) 7.00% to the unreimbursed principal amount of AFW's Costs and/or TFD's Costs, as applicable, with interest to accrue on the unpaid principal amount beginning on the date that the Town issues its "conditional acceptance" letter accepting each phase of the AFW Improvements or TFD Improvements, as applicable, as detennined by reference to the applicable subdivision improvement agreement, and continuing through and including the date of payment. For purposes of this definition of Accrued Interest, "Prime Rate" means the prime rate as published in the Wall Street Journal on the first business day of each calendar month during the Credit PIF Period, and will be adjusted on a current monthly basis during the Credit PIF Period as of the first business day of each calendar month. 2. Add-On PIF. In accordance with the PIRA and the PIF Covenant, the component of the PIF which will be set at a rate not to exceed one percent (1.00%) in accordance with the tenns and conditions of the PIF Covenant, and which will be applied to Taxable Transactions (and such other transactions as may be authorized under the PIF Covenant from time to time) occurring within Firestone City Centre before the calculation of applicable Sales Taxes and/or Use Taxes, but which is not offset by a Sales/Use Tax Credit. For purposes of communications to PIF Obligors and/or the general public, the P!Cs may designate the Add-On PIF as the "Retail Sales Fee" or such other tenn as the P!Cs may detennine and designate in writing to SDMS, in which case the applicable fonns will be modified to reflect the desired tenninology and the tenn Add-On PIF as used in this Agreement will be construed in all instances to refer to Retail Sales Fee or such other tenn as the PI Cs have designated. 3. Add-On PIF Construction Activity(ies). Construction activities within Firestone City Centre that are subject to the Town's Use Tax, but excluding those transactions that the TFD PIC (with respect to the TFD Property) and/or the AFW PIC (with respect to the AFW Property), as applicable, expressly exclude from the definition of Add-On PIF Construction Activities in the Construction Activities Guidelines established from time to time pursuant to the PIF Covenant. 4. Add-On PIF Report. A report of Add-On PIF Revenues payable by each PIF Obligor, in the fonn set forth in Exhibit C (or as otherwise required by the Infonnation from time to time, a copy of which fonn is delivered to SDMS by the AFW PIC with respect to the AFW Property or by the TFD PIC with respect to the TFD Property in advance of its effective date) which, together with remittance of the Add-On PIF Revenues payable and a copy of the corresponding CDOR sales tax report, is: (i) with respect to each Sales Fee Obligor, to be 692631.9 A-I prepared by the Sales Fee Obligor and delivered to SDMS on or before each Fee Remittance Date for the immediately preceding Reporting Period; and (ii) with respect to each Use Fee Obligor, to be completed by the Use Fee· Obligor and delivered to the applicable PJC concurrently with the applicable PIC's certification of architectural review and approval for delivery by the applicable PlC to SDMS on or before the Fee Remittance Date for the relevant Construction Activity. 5. Add-On PIF Revenues. The revenues generated from imposition and collection of the Add-On PIF pursuant to the terms of the PIF Covenant, together with all interest earned thereon while on deposit with SDMS. 6. Add-On PIF Sale(s). The following transactions which are subject to the Add-On PIF pursuant to the PIF Covenant: (i) any exchange of goods or services for money or other media of exchange· that is subject to the Sales Tax and is initiated, consummated, conducted, transacted or otherwise occurs from or within any portion of Firestone City Centre; (ii) any additional transactions that the applicable PIC expressly includes within the definition of Add-On PIF Sales in the guidelines established by it from time to time pursuant to Section 5 of the PIF Covenant (which additionally included transactions may include, but are not limited to, retail sales occurring within Firestone City Centre that are to be delivered to a location outside the Town and which are for that reason not subject to the Sales Tax); but excluding (iii) any transactions that the TFD PlC (with respect to the TFD Property) and/or the AFW PIC (with respect to the AFW Property), as applicable, expressly excludes from the definition of Add-On PIF Sales in the guidelines established by it from time to time pursuant to Section 5 of the PIF Covenant. 7. AFW. American Furniture Warehouse Co., a Colorado corporation, together with its successors and assigns. 8. AFW Add-On PIF Account. The bank account to be established for the benefit of the AFW PIC for the purpose of SDMS depositing all Add-On PIF Revenues received from PIF Obligors who have engaged in PIF Sales and/or Construction Activities within the AFW Property during the applicable Reporting Period. 9. AFW Costs. As more particularly set forth in Exhibit H of this Agreement, and subject to the maximum amount set forth therein, the principal amount of the actual cost of the engineering, construction engineering, construction survey and construction (labor and materials) of the AFW Improvements that are eligible (together with Accrued Interest thereon) for reimbursement from the Credit PIF Revenues during the Credit PIF Period pursuant to the terms and conditions of the PIRA and as further set forth in this Agreement; excluding, however, costs for design, planning, legal, accounting, overhead or administrative staffing, financing, and other associated "soft" costs. 10. AFW Improvements. As designated and more particularly set forth in Exhibit H, those public improvements which, subject to the terms and conditions of the PIRA, AFW has the obligation to construct and with respect to which AFW is entitled to reimbursement of the AFW Costs. c.926)29 A-2 11. AFW PIC. The AFW Firestone Public Improvement Company, Inc., a Colorado nonprofit corporation, together with its successors and assigns. 12. AFW Property. That portion of Firestone City Centre which is legally described as Lot I, The First Replat of the American Furniture Warehouse Subdivision, Recorded on August 2, 2006, at Reception No. 3408227. 13. Agreement. This PIF Collection Services and Trustee Agreement between the Parties, as amended and supplemented from time to time. 14. Cap Amount. As allocated between the Developers pursuant to the PIRA and as further set forth in Exhibit H of this Agreement, the total aggregate principal amount of eleven million dollars ($11,000,000), plus Accrued Interest, which amount is the maximum amount of Credit PIF Revenues available under the terms and conditions of the PIRA to reimburse the PI Cs and/or the Developers for the AFW Costs and the TFD Costs, collectively. 15. CDOR. The Colorado Department of Revenue, which functions as the Town's collecting agent for Sales Tax. 16. Certification of Eligible Costs. A requisition for reimbursement of Eligible Costs submitted to SDMS in the form set forth in Exhibit B, pursuant to which a PIC may request and SDMS is authorized under the terms of this Agreement to disburse Credit PIF Revenues (and/or, to the extent applicable under the terms of the PIF Covenant, Contingent PIF Revenues) from the Credit/Contingent PIF Trust Account. 17. Construction Activity(ies). Collectively or individually, as applicable, Credit PIF Construction Activity(ies), Add-On PIF Construction Activity(ies), and/or Contingent PIF Construction Activity(ies) (if applicable). 18. Contingent PIF. In accordance with the PIF Covenant, the component of the PIF which will be imposed in lieu of the Credit PIF at a rate not to exceed one and twenty-five one hundredths percent (1.25%) if a Sales/Use Tax Credit Termination occurs. 19. Contingent PIF Construction Activity(ies). Construction act1v111es within Firestone City Centre that are subject to the Town's Use Tax, but excluding those transactions that the TFD PIC (with respect to the TFD Property) and/or the AFW PIC (with respect to the AFW Property), as applicable, expressly exclude from the definition of Contingent PIF Construction Activities in the Construction Activities Guidelines established from time to time pursuant to Section 6 of the PIF Covenant. 20. Contingent PIF Report. A report of Contingent PIF Revenues (if applicable) payable by each PIF Obligor, in the form set forth in Exhibit D (or as otherwise required by the Information from time to time, a copy of which form is delivered to SDMS by the AFW PIC with respect to the AFW Property or by the TFD PIC with respect to the TFD Property in advance of its effective date) which, together with remittance of the Contingent PIF Revenues payable and a copy of the corresponding COOR sales tax report, is: (i) with respect to each Sales Fee Obligor, to be prepared by the Sales Fee Obligor and delivered to SDMS on or before each Fee Remittance Date for the immediately preceding Reporting Period; and (ii) with respect A-3 to each Use Fee Obligor, to be completed by the Use Fee Obligor and delivered to the applicable PIC concurrently with the applicable PIC's certification of architectural review and approval for delivery by the applicable PIC to SDMS on or before the Fee Remittance Date for the relevant Construction Activity. 21. Contingent PIF Revenues. The revenues generated from the Contingent PIF, if any, together with all interest earned thereon while on deposit in the Credit/Contingent PIF Trust Account. 22. Contingent PIF Sale(s). The following transactions which may be made subject to the Contingent PIF upon the occurrence of a Sales/Use Tax Credit Termination: (i) any exchange of goods or services for money or other media of exchange that is subject to the Sales Tax and is initiated, consummated, conducted, transacted or otherwise occurs from or within any portion of Firestone City Centre; (ii) any additional transactions that the applicable PIC expressly includes within the definition of Contingent PIF Sales in the guidelines established by it from time to time pursuant to Section 5 of the PIF Covenant (which additionally included transactions may include, but are not limited to, retail sales occurring within Firestone City Centre that are to be delivered to a location outside the Town and which are for that reason not subject to the Sales Tax); but excluding (iii) any transactions that the TFD PIC (with respect to the TFD Property) and/or the AFW PIC (with respect to the AFW Property), as applicable, expressly excludes from the definition of Contingent PIF Sales in the Information. 23. Credit/Contingent PIF Trust Account. The bank account to be established for the benefit of the TFD PIC and the AFW PIC for the purpose of SDMS depositing all Credit PIF Revenues and Contingent PIF Revenues, if applicable, received from PIF Obligors who have engaged in PIF Sales and/or Construction Activities within Firestone City Centre during the application reporting period. 24. Credit PIF. The component of the PIF which is set at a rate of one and twenty-five one hundredths percent ( 1.25%) in accordance with the terms and conditions of the PIF Covenant and the PIRA, and which when applied to Taxable Transactions occurring during the Credit PIF Period will result in an offsetting credit against the Sales Tax and Use Tax obligation, as applicable, under the Code pursuant to the terms of the Sales/Use Tax Credit as provided in the PIRA. 25. Credit PIF Construction Activity(ies). Construction activities within Firestone City Centre that are subject to the Town's Use Tax. 26. Credit PIF Period. Pursuant to the PIRA, the period commencing on the later to occur of: (i) the date that the Sales/Use Tax Credit becomes effective, or (ii) the date on which the initial Taxable Transaction resulting from a retail sales transaction occurs within Firestone City Centre, and continuing until the earlier to occur of: (A) disbursement of Credit PIF Revenues in an amount sufficient to fully reimburse AFW for the AFW Costs and to fully reimburse TFD for the TFD Costs (including reimbursements to the applicable Developer of funds advanced, and Accrued Interest thereon, for Eligible Costs pursuant to reimbursement agreements that the applicable PIC has executed with the applicable Developer prior or 69261?9 A-4 subsequent to the effective date of this Agreement), subject to the Cap Amount; or (B) the 20th anniversary of the date on which the Credit PIF Period commences. 27. Credit PIF Report. A report of Credit PIF Revenues payable by each PIF Obligor, in the form set forth in Exhibit D (or as otherwise required by the Information from time to time, a copy of which form mutually agreed upon by the P!Cs is delivered to SDMS in advance of its effective date) which, together with remittance of the Credit PIF Revenues payable and a copy of the corresponding COOR sales tax report, is: (i) with respect to each Sales Fee Obligor, to be prepared by the Sales Fee Obligor and delivered to SDMS on or before each Fee Remittance Date for the immediately preceding Reporting Period; and (ii) with respect to each Use Fee Obligor, to be completed by the Use Fee Obligor and delivered to the applicable PIC concurrently with the applicable PIC's certification of architectural review and approval for delivery by the applicable PIC to SDMS on or before the Fee Remittance Date for the relevant Construction Activity. 28. Credit PIF Revenues. The revenues generated from the Credit PIF, together with all interest earned thereon while on deposit in the Credit/Contingent PIF Trust Account. 29. Credit PIF Sale(s). Any exchange of goods or services for money or other media of exchange that is subject to the Sales Tax and is initiated, consummated, conducted, transacted or otherwise occurs from or within any portion of Firestone City Centre. 30. Daily PIF Receipts Report. The written report that SDMS is required pursuant to Section 3.1 to prepare for each business day during the term of this Agreement with respect to which SDMS receives PIF Revenues, which report will contain the information and be in the form set forth in Exhibit E. 31. Developers. Collectively, TFD and AFW. 32. Eligible Costs. The aggregate total amount of the AFW Costs and the TFD Costs pursuant to the PIRA and Exhibit C thereof, as further set forth in Exhibit H of this Agreement, which costs are eligible for reimbursement from Credit PIF Revenues, subject to the Cap Amount and the other terms and conditions of this Agreement. 33. Exhibits. Individually, one of the following Exhibits to this PIF Collection Services and Trustee Agreement and/or, collectively, all of the following Exhibits to this PIF Collection Services and Trustee Agreement, as the context dictates, which Exhibits are incorporated into and made a part of this PIF Collection Services and Trustee Agreement: Exhibit A: Definitions Exhibit B: Form of Certification of Eligible Costs Exhibit C: Form of Add-On PIF Report Exhibit D: Form of Credit ?IF/Contingent PIF Report Exhibit E: Form of Daily PIF Receipts Report 6926129 A-5 Exhibit F: Form of Monthly PIF Report Exhibit G: SDMS Fee Schedule Exhibit ff Schedule of Eligible Costs and Allocation Thereof 34. Facially Valid. A Certification of Eligible Costs in the form attached as Exhibit B which: (i) has been fully completed; and (ii) has been executed by an authorized officer of the applicable PIC; and (iii) if it requests reimbursement for the principal amount of Eligible Costs for the AFW Improvements or TFD Improvements, as applicable, includes a completed Appendix A executed and certified by an engineer licensed in Colorado; and (iv) if it requests reimbursement for Accrued Interest, includes a completed Appendix B; and (v) with respect to which SDMS has not received from the Finance Director a written notice of objection pursuant to Subsection 2.2(e). 35. Fee Remittance Date. As applicable, (i) with respect to PIF Revenue payments to be made by Sales Fee Obligors, the date on which the corresponding Sales Tax amount is due and payable to COOR, and (ii) with respect to PIF Revenue payments to be made by Use Fee Obligors, the date which is three (3) business days after such Use Fee Obligor has made such payment to the TFD PIC or the AFW PIC, as applicable. 36. Finance Director. The finance director for the Town of Firestone, or any successor to the functions that are being performed by the Finance Director as of the date of this Agreement. 37. Firestone City Centre. The mixed-use commercial development project that Developers intend to develop on the AFW Property and the TFD Property. 38. Information. Any written information or guidelines, as amended and supplemented from time to time, prepared by the PICs and the Town, with the approval of the Developers regarding the calculation, payment and reporting of the Public Improvements Fee, including but not limited to the guidelines established by the PICs from time to time pursuant to Section 5 of the PIF Covenant. 39. Monthly PIF Report. The written report that SDMS is required under the terms of this Agreement to prepare for each calendar quarter during the term of this Agreement and distribute to each PIC, TFD, AFW and, at all times prior to the occurrence of a Sales/Use Tax Credit Termination, the Finance Director as provided in Section 3.2, which report will be in the form and contain the information set forth in Exhibit F. 40. Party(ies). Individually, a signatory to this Agreement and, collectively, the signatories to this Agreement. 41. Person. Any individual, partnership, corporation, limited liability company, association, trust or other type of entity or organization (including any Developer). 42. PIC(s). Individually or collectively as the context dictates, the TFD PIC and/or the AFW PIC, as applicable. 6926)2 9 A-6 43. PIF or Public Improvements Fee. Collectively, a public improvements fee comprised of the Add-On PIF, the Credit PIF and, if applicable, the Contingent PIF, to be assessed at a combined rate not to exceed two and twenty-five one hundredths percent (2.25%) pursuant to the PIF Covenant against: (i) all Construction Activities; and (ii) all PIF Sales. 44. PIF Covenant. That certain Declaration of Covenants Imposing and Implementing the Firestone City Centre Public Improvements Fee made as of October 1, 2006, by AFW and TFD, as declarants, and recorded in the real property records of the Weld County clerk and recorder on October 3, 2006, at Reception No. 3424647, as amended and supplemented from time to time in accordance with its terms. 45. PIF Obligor(s). Any Person(s) who, by virtue of being the seller in a PIF Sales transaction or engaging in a Construction Activity, is obligated to collect and remit a Public Improvements Fee pursuant to the terms of the PIF Covenant, and includes both Use Fee Obligors and Sales Fee Obligors. 46. PIF Revenues. Collectively, the Add-On PIF Revenues, the Credit PIF Revenues and the Contingent PIF Revenues (if applicable). 47. PIF Sales. Collectively, Add-On PIF Sales, Credit PIF Sales and Contingent PIF Sales (if applicable). 48. PIRA. The Amended and Restated Public Improvements and Reimbursement Agreement with an effective date of July 3 I, 2006, Recorded on August 2, 2006, at Reception No. 3408228, by and among the Town, AFW and TFD, as amended, supplemented or replaced from time to time in accordance with the terms and conditions set forth therein. 49. Pro Rata Cost Allocation. With respect to any payment to SDMS that is a joint obligation of the PICs, such cost will be allocated among the PICs pursuant to the following percentages, with each PIC to be severally liable for its pro rata allocation: (i) AFW PIC - 34.14%; and (ii) TFD PlC -65.86%. 50. Reporting Period. Pursuant to COOR regulations and/or any other applicable Town regulations, the period of time (which may be monthly, quarterly or such other frequency as the applicable regulations may require) with respect to which a Sales Tax obliger is required to file a periodic report of Taxable Transactions and remit Sales Taxes thereon. 51. Sales Fee Obligor(s). Any Person who engages in PIF Sales, and is therefore obligated to pay a Public Improvements Fee with regard to such PIF Sales pursuant to the terms of the PIF Covenant. 52. Sales Fee Obligor List. As defined in Section 1.2. 53. Sales Tax(es). That tax levied by the Town pursuant to the Sales Tax Ordinance. 54. Sales Tax Ordinance. Section 3.08 of the Town of Firestone Municipal Code, and any regulations promulgated pursuant thereto, as amended from time to time. 69211)2 9 A-7 ·-·····------ 55. Sales/Use Tax Credit. The credit against Town Use Tax (on building materials only) and Town Sales Tax on Taxable Transactions occurring within Firestone City Centre which the Town has adopted in accordance with Section 4.02 of the PIRA, the rate of which will be 1.25% at all times during the Credit PIF Period. 56. Sales/Use Tax Credit Termination. Any action or inaction by the Town, any court order, or any legislative act which has the legal effect of causing a termination, revocation or suspension of the Sales/Use Tax Credit. 57. SDMS. Special District Management Services, Inc., a Colorado corporation, together with its successors and any of its assigns as permined under the terms and conditions of this Agreement, which, pursuant to this Agreement, is the PIF Collecting Agent/Trustee as defined in the PIRA and contemplated in the PIF Covenant. 58. Taxable Transaction. The sale or provision of goods· or services within Firestone City Centre which are subject to the Town's Use Tax (on building materials only) and/or the Town's Sales Tax. 59. TFD. THF Firestone Development, L.L.C., a Missouri limited liability company, together with its successors and assigns. 60. TFD Add-On PIF Account. The bank account to be established for the benefit of the TFD PIC for the purpose of SDMS depositing all Add-On PIF Revenues received from PIF Obligors who have engaged in PIF Sales and/or Construction Activities within the TFD Property within the applicable Reporting Period. 61. TFD Costs. As more particularly set forth in Exhibit H of this Agreement, and subject to the maximum amount set forth therein, the principal amount of the actual cost of the engineering, construction engineering, construction survey and construction (labor and materials) of the TFD Improvements that are eligible (together with Accrued Interest thereon) for reimbursement from the Credit PIF Revenues during the Credit PIF Period pursuant to the terms and conditions of the PIRA and as further set forth in this Agreement; excluding, however, costs for design, planning, legal, accounting, overhead or administrative staffing, financing, and other associated "soft" costs. 62. TFD Improvements. As designated and more particularly set forth in Exhibit H, those public improvements which, subject to the terms and conditions of the PIRA, TFD has the obligation to construct and with respect to which TFD is entitled to reimbursement of the TFD Costs. 63. TFD PIC. The TFD Firestone City Centre Public Improvement Company, Inc., a Colorado nonprofit corporation, together with its successors and assigns. 64. TFD Property. That portion of Firestone City Center which is legally described as Lots 2, 3 and 4, The First Replat of the American Furniture Warehouse Subdivision, Recorded on August 2, 2006, at Reception No. 3408227, together with the Supplemental Property (as defined in the PIRA), to the extent TFD acquires title to the Supplemental Property and gives 692632 9 A-8 written notice to SDMS that the Supplemental Property has been acquired and incorporated into the TFD Property. 65. Town. The Town of Firestone, Colorado, a municipal corporation of the State of Colorado. 66. Use Fee Obligor(s). Any Person who engages in a Construction Activity, or hires another (e.g., a contractor) to engage in a Construction Activity, and is therefore obligated to pay a Public Improvements Fee with regard to such Construction Activity pursuant to the terms of the PIF Covenant. 67. Use Tax(es). The use tax (on building materials only) levied by the Town pursuant to the Use Tax Ordinance. 68. Use Tax Ordinance. Section 3.08 of the Town of Firestone Municipal Code, and any regulations promulgated pursuant thereto, as amended from time to time. A-9 EXHIBITB Form of Certification of Eligible Costs (Requisition/Certification for Disbursement of Credit/Contingent PIF Revenues) REQUISITION/CERTIFICATION NO._ Special District Management Services 141 Union Boulevard Suite 150 Lakewood, CO 80228 Re: Requisition for Reimbursement of Eligible Costs for Firestone City Centre Pursuant to Section 2 of the PIF Collecting Agent and Trustee Agreement, dated as of 2006 (the "PIF Trustee Agreement"), between AFW Firestone Public Improvement Company, TFD Firestone City Centre Public Improvement Company, American Furniture Warehouse Co., Inc., TIIF Firestone Development, L.L.C. and Special District Management Services, Inc., (Name of Requesting PIC) hereby requests Special District Management Services, Inc. to disburse Credit PIF Revenues (and/or Contingent PIF Revenues, if applicable) from the Credit/Contingent PIF Trust Account as detailed on the attached Appendix A and/or Appendix B. The Credit PIF Revenues (and/or Contingent PIF Revenues, if applicable) so disbursed will be used pursuant to and in accordance with the provisions of the PIRA (as defined in the PIF Trustee Agreement). The Eligible Costs for which reimbursement is requested are proper charges against the Credit/Contingent PIF Trust Account and have not been the basis of any previous Requisition. If this Requisition requests reimbursement of the principal, it is accompanied by a completed Appendix A certified by a licensed and registered Colorado civil engineer and if this Requisition requests reimbursement of Accrued Interest (as defined in the PIF Trustee Agreement), it is accompanied by a completed Appendix B. The signature of the authorized officer of the requesting entity set forth below certifies that the amounts set forth in Appendix A and/or Appendix B actually have been incurred and are Eligible Costs for reimbursement from the Credit/Contingent PIF Trust Account in accordance with the terms and conditions of the PIRA and the PIF Trustee Agreement. A copy of this Requisition has been forwarded to the Finance Director of the Town in accordance with the provisions of the PIRA and the PIF Trustee Agreement. The total amount submitted for reimbursement to the requesting entity through the date hereof, including the amount requested by this Requisition, is $ _____ ~ consisting of $ ____ of principal and $ _____ of Accrued Interest. The total amount actually received by the requesting entity to date is $ _____ ~ consisting of $ _____ of principal and $ _____ of Accrued Interest. WITNESS my hand this __ day of ______ _ (Requesting PICJ Authorized Officer 691631.9 B-1 Total: Appendix A to Requisition/Certification No._ Schedule of Improvements and Eligible Costs The undersigned hereby certifies pursuant to Section 2.2(c) of the PIF Collection Services and Trustee Agreement dated --~ 2006, and Section 4.08 of the Amended and Restated Public Improvements Reimbursement Agreement dated July 31, 2006, and recorded on August 2, 2006, at Reception No. 3408228, that: (i) I am a licensed and registered Colorado civil engineer; and (ii) the amounts set forth above are the actual amount of the costs of the (AFW or TFD, as applicable) Improvements for which reimbursement is being requested pursuant to this Certification of Eligible Costs. 6926)2.9 (Insert Company Name of Certifying Engineerf Name: Registration: ___________ _ B-2 I Appendix B to Requisition/Certification No._ Schedule of Accrued Interest Total Accrued Descriotion of Accrued Interest Calculation Amount . Total for this Certification: 6926)211 B-3 Interest EXHIBITC Form of Add-On PIF Report [_Follows this Page] 6926]2 9 C-1 FIRESTONE CITY CENTRE ADD-ON PIF RETURN [AFW Property or TFD Property] (A SEPARATE RETURN MUST BE FILED FDR EACH LOCATION) PERIOD CoVERED DUE DATE ACCT.# MAIL FORM TO: IAFW FIRESTONE PUBLIC IMPROVEMENT COMPANY, INC. OR TFO FIRESTONE CITY (Use State Taxpayer ID#) CENTRE PUBLIC IMPROVEMENT CoMPANY, INC., AS APPLICABLE) C/0 SPECIAL DISTRICT MANAGEMENT SERVICES, INC. 141 UNION BLVD, STE 150 LAKEWOOD, CO 80228 (303) 987-0835 RETURNS NOT POSTMARKED BY THE DUE DATE WILL BE SUBJECT TO INTEREST ANDIOR A LATE CHARGE GRoss SALES ANO SERVICE [TOT"'-RECEIPfli,llt~ltl!!WIM IIUiTeE Rfl'ORTEO :,·,,,,.,.~~"'0 ~•,-,.,;:,,.,;ne,>.W ,. -. ,,,•.,c,.~,1"''iV~1!!.· 1. INCUIDNG "'1 SAl.£1, 11:ENTAiS. W.SES. NIO SEIMCEI, BOTM TA.UBI.I .UW NON-TAWIIE} $ fl~~; r 0 • .iw~ 4, -~ ~~;'l-~!~~r,'.:;,f,;>:~:r~lt~Wf(_ .. ~i:0!~;!:rt{~ 2A. ADD-BADDEBTSCOlLECTEDWHICH WERE f>REVOJSI.Y DEDUCTED $ 5. AMOUNT CF Aoo-ON PIF fuNE 4 x 0.011 $ 2a. TOTAL.OF LMES 1 & 2A I 6. ADO EXCESS Aoo-ON PIF CCl.LECTED $ :)i;~~t}~~}-ti·?:q~~~~-#.{~:'.\'.~-:~;].;.;;.:r:~;;:. I 7. TOTAL ADD-ON PIF DUE f,-oo LINES 5 & 61 $ LATE CHARGE, IF MORE THAN 10 DAYS AFTER DUE 3A. NON-TAXABLE SERVICE AND lABoR SALES $ I 8. DATE: 10% OF FEES fl.DE 7x .10) "MW$100" $ SALES TO Go\l'ERNhlENTAL AGENCIES, RELIGIClJS OR INTEREST IF FILED OR POSTMARKED AFTER DUE DATE: 3B. QwurABI..E ORGA.NIZAOONS $ I 9. .049315%1'DAY n = 7 x.DCOl9315 l NUWEROAY$1.ATEI $ I TOTAL Due WITH LATE CHARGE AND INTEREST, IF liJIY Jc. SALES Cf GASOUNE AND CIGARETTES $ 10. IAODUNES 7 8 & 91 I SALES OF DRUGS BY PRESCRIPTION OR PROSTHETIC PR()R PERJ()O ADJUSTMENT Non:E OF 3D. DEVlCES s I 11. 0vERPAYMENT OR UNDERPAYMENT $ TOTAL DUE AND PAYABLE {IWtECKECICPAYABUTO [AFW FIRESTONE Pusuc IIIPROVEIIEIIT COP.tll'Y, /#C. OR I TFD FIRfUOltE Ctrr CBfTR! PuBUC lJtNtrNEIIEIIT 3E. TRAOE-tNSFOR TAXABLE RESALE $ 12. ColtPMtY /NI'!. AS ·' $ BAD DEBTS CKARGEOOFF, RETURNEDGooos, TRADE DISCOIJNTS AND AllOWANCES WHERE 3F. ADD-ON PIF WAS PAIDIWHOISCOt.llTiiARE NOT AU.OWEOI $ I SALES TO OTHER LICENSED OE.ALERS FOR 3G. l'URPOSES Cf T AXABl.E RESALE $ I COPIES OF YOUR COLORADO RETAIL SALES 3H. FOOD STAMPs/W.I.C. VOJCHERS $ I RETURN AND FIRESTONE CITY CENTRE CREDIT OTHER EXEMPTIONS AND DEDUCTIONS (ATTACH I PIF RETURN FOR THE SAME PERIOD MUST BE 31. ___ ,. $ ENCLOSED WITH THIS RETURN I TOTAL ExEIIPTIONS AHO DEDUCTIONS (Aoo UKH lA I 3. ""'°"'" ., $ TOTAL NET ASSESSABl.E SALES AND SERVICE {LPl:E I 4. ZemuslJN:Ell $ = ~-i~.~ ~t;;t;~GJ; --~~t~Ii~~¼.Jb11l;~~~~liif.~~l~~~&Mi11f.m;§!~~~:~~~~f :i:~ii f 2J1t ~~~;~l;LD~.-i,:.:. :·:: · . ; . ..: tffn;·~;;J.; .. : .\t ~,; t~~· -.~Hf.~i; :·.::~ ·:~:t~~~~lfl.::;;.~;fJ "\•1~~~~Jit. ~ . .... .... ·~·· . ..,. .-.,. . .. . . .. ~- COMPANY: TRADE NAME: ADDRESS: CITY: STATE: ZIP: PHONE: FAX: ~ HEREBY CERTIFY, UNDER PENALTY OF PERJURY, THAT TKE STATEMENTS llADE HEREIN ARE TO TKE BEST OF IIY KNOWLEDGE TRUE AND CORRECT. BY: Tnu: C<».IPANY: DATE: ······•------ EXHIBITD Form of Credit PIF/Cootingeot PIF Report [Follows this Page) 6926)2.9 D-1 FIRESTONE CITY CENTRE CREDIT PIF RETURN (A SEPARATE RETURN MUST BE FILED FOR EACH LOCATION) PERIOD COVERED DUE DATE ACCT. # MAIL FORM To: FIRESTONE CREDIT PIF TRUST ACCOUNT (Use Siam Ta,paye, ID#) C/0 SPECIAL DISTRICT MANAGEMENT SERVICES, INC, 141 UNION BLVO, STE 150 LAKEWOOD, CO 80228 1303) 987-0835 RETURNS NOT POSTMARKED BY THE DUE DATE WILL BE SUBJECT TO INTEREST ANoJOR A LATE CHARGE GROSS SAl..ES AND SERVICE (TOTJ.L IIHtJP15. llB1Rf MUI IM MUST II: REPORTED INCWCIMG AU SALES. RENTALS, I.EASES, ANtl SERVla:S. BOTK T-'Mlllf -'Ntl llON-TAAl&f) $ 2A. ADO-BAD DEBTS COLLECTED WHICH WERE PREVK>USL Y DEDUCTED I 5. AMOUNT OF CREDIT PIF IUNE 4 ll0.01251 2B. TOT AL Of l.lH£S 1 & 2A I 6, ADO EXCESS CREDIT PIF COI..LECTEO 7, TOTAL CREDIT PIF DUE !AOOUNES 5 & 6) LATE CHARGE, F MORE THAN 10 DAYS AFTER DUE 3A, NON•T AXA8LE SERVICE AND l.ABM SALES I I 8, DATE: 10%0FFEESt1nn:7x.10I "MIN$100" SALE.S TO GoVERNMENTAL AGENCIES, RELIGIOUS OR lNTEREST IF FILED OR POSTMARKED AFTER Due OATC: 38. CHARITABLE ORGmlZATIONS $ I 9. .049315%/DAY ll.lNE 7 X 00045315 X NUWER DAYSl),Tfl Jc. SALES Of GASOt.lNE AND CIGAREms I I TOTAL DUE WITH LATE CHARGE ANO INTEREST, IF AJ('( 10, (AOOI.INES7,8 &9} SAi.ES OF DRUGS BY PRESCRIPTION~ PROSTHETIC PRIOR PERia> AD.AJSTMENT NOTICE OF 3D. DEVICES $ I 11, 0vERPAYMENT OR UNDERPAYMENT TOTAL DUE AND PAYABLE (IIAXE CHECX PAYASLE TI> 3E, TRAOE-fNS FOR TAXABlE RESALE $ I ·soMS, 111:., TRUSTEE FOR flRfSTONE PIF TR1JST 12. ACCOUIIT"I BAO DEBTS CHARGED OFF, RET\/RNED Gooos, TRADE DISCOUNTS ANO AuOWANCES WHERE 3F, CREDIT PIF WJ.S PAID ICASKOSCOUNT&.I.RE IIOT ALLOfltD) $ I SALES $HIPPED OJT OF TOWN OF FIRES TONE 3G. IINC:l.LDEO IN ITEM I • .,,....e'I $ I I $ I $ s $ $ I SAi.ES TO OTHER LICENSED DEALERS FOR 3H, l'l!RPOSES OF T AXA8LE RESALE 31. FOODS TAMPS/W.I.C. VOUCHERS OTHER EXEMPTIONS AND DEDUCTIONS {ATTAClt I I $ I I COPIES OF YOUR COLORADO RETAIL SALES RETURN AND FIRESTONE CITY CENTRE ADD-ON PIF RETURN FOR THE SAME PERIOD MUST BE ENCLOSED WITH THIS RETURN! 3J. SCIE!llUI $ TOTAL ExEllPTIOMS AND DEDUCTlONS (ADD UMES lA I 3. ntR0UOII :IJI I TOTAL NET AsSESSABLE SALES AND SERVICE(lJN! I 4. 2eUUSIJICE3) ,, ... , ... :, COi.FAHY:. ____________________ _ TRAOENAAE: ___________________ _ AooREss:. ____________________ _ CITY:. ________ STATE:. ______ ZIP: ____ _ l'HONE: __________ FAX: _________ _ I, HEREBY CERTIFY, I/HOE.A PENALTY Of PERJURY, THAT THE STATEMENTS IIADE HEREIN ARE TO THE BEST OF 1ft KNOWlEDGE TRUE AND CORRECT. BY: _______________ _ TITlE:. _______________ _ COMPANY: ______________ _ DATE:, _______________ _ EXHIBITE Form of Daily PIF Receipts Report (Follows this Page] Cl926J2 9 E-1 Date: DAILY FIRESTONE CITY CENTRE ADD-ON PIF OBLIGOR RECEIPTS REPORT ------ PIF OBLIGOR AMOUNT OF REMITTANCE $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ TOTAL RECEIVED $ PIF OBLIGOR AMOUNT OF REMITTANCE $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ TOTAL RECEIVED $ DAILY FIRESTONE CITY CENTRE CREDIT PIF OBLIGOR RECEIPTS REPORT Date: ____ _ PIF OBLIGOR AMOUNT OF REMITTANCE $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ TOTAL RECEIVED $ 2 - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - EXHIBIT F Form of Monthly PIF Report !follows this Page] 6926)2.9 F-1 FORM OF MONTHLY FIRESTONE CITY CENTRE ADD-ON PIF OBLIGOR RECEIPTS REPORT Report for the Month of: _______ _ PIF Obllaor. Late Charges, lnteres~ Monthly Total t---------=.._,--,--------t Reported Net Assessable Amount of Add-On PIF Excess PIF Collected, t----,--,---.....,.,__,-------t Name Acct# Sales Due 11.0%) Prior Period Adi. Due Paid Olscraaancv $ -$ -$ -$ -$ -$ $ -$ -$ -$ -$ -$ $ -$ -$ -$ -$ -$ $ -$ -$ -$ -$ -$ $ -$ -$ -$ -$ -$ $ -$ -$ -$ -$ -$ $ -$ -$ -$ -$ -$ $ -$ -$ -$ -$ -$ $ -$ -$ -$ -$ -$ $ -$ -$ -$ -$ -$ $ -$ -$ -$ -$ -$ $ -$ -$ -$ -$ -$ $ -$ -$ -$ -$ -$ $ -$ -$ -$ -$ -$ $ -$ -$ -$ -$ -$ $ -$ -$ -$ -$ -$ $ -$ -$ -$ -$ -$ $ -$ -$ -$ -$ -$ $ -$ -$ -$ -$ -$ $ -$ -$ -$ -$ -$ $ -$ -$ -$ -$ -$ Total AFW Add-On PIF Revenues Received for the Month $ -$ -$ FORM OF MONTHLY FIRESTONE CITY CENTRE ADD-ON PIF OBLIGOR RECEIPTS REPORT Report for the Month of: _______ _ •; :,;:.~,."·.-~. S-'~-,-,,. ·. _;,,,,,~~'1£,,;.U:tti>'PROR§ ![/"· .. /.:-':" ~;f/;~ . ir'· -· :it~• ..... __ :·;'",•; -··-·:\=::-.,~ •. n-~·-=~-!~;•:•~ ..... -:.: - PIF Obllaor Late Charges, Interest, Reported Net Assessable Amount of Add-On PIF Excess PIF Collected, Name Acct# Salas Duell.0%1 Prior Period Adi. Due $ -$ -$ -$ $ -$ -$ -$ $ -$ -$ -$ $ -$ -$ -$ $ -$ -$ -$ $ -$ -$ -$ $ -$ -$ -$ $ -$ -$ -$ $ -$ -$ -$ $ -$ -$ -$ $ -$ -$ -$ $ -$ -$ -$ $ -$ -$ -$ $ -$ -$ -$ $ -$ -$ -$ $ -$ -$ -$ $ -$ -$ -$ $ -$ -$ -$ $ -$ -$ -$ $ -$ -$ -$ $ -$ -$ -$ Total TFD Add-On PIF Revenues Received for the Month $ .. ~-..,·..:.v,,; .. _,!.~-~ -:~-i .. ~ '!: ·"f. ~-::.:.-~""':-.a, ·-;!f ift!# ... -..:.-miJ"~T~~~;r-·. ..~, -·. . . Monthly Total Paid Dlacreoancy -$ -$ - -$ -$ - -$ -$ - -$ -$ - -$ -$ - -$ -$ - -$ -$ - -$ -$ - -$ -$ - -$ -$ - -$ -$ - -$ -$ - -$ -$ - -$ -$ - -$ -$ - -$ -$ - -$ -$ - -$ -$ - -$ -$ - -$ -$ - -$ -$ - -$ -$ - ·-/,:::·:·;ti<~-... ~-v-,.,,_ ..... : ~:ri.~~:.· ' -<•:, ;_:, .. . : . ·''/: -:< :\:-;;;-~: ... ---.. i J;r~~~}Jt</./ ,, . -~~&i~.--j"· ;.. -:'"' ···- FORM OF MONTHLY FIRESTONE CITY CENTRE CREDIT PIF OBLIGOR RECEIPTS REPORT Report for the Month of: _______ _ j';.~;\:--r ... ' ~-_-3 f~~=~-f?t:~.,,-~:::~~--.:;:_·· ·::· _'. ·. .. -y~~~-----•~-TF'b:P.Rp'.fl --~t:r!~: ·_:_:_ ·-{:fl~t. --":; . . PIFObllaar Late Charges, lntares~ Reported Net Assessable Amount of Add-On PIF Excess PIF Collected, Name Acct# Sales Duo 11.25%1 Prtor Period Adi. $ -$ -$ - $ -$ -$ - $ -$ -$ - $ -$ -$ - $ -$ -$ - $ -$ -$ - $ -$ -$ - $ -$ -$ - $ -$ -$ - $ -$ -$ - $ -$ -$ - $ -$ -$ - $ -$ -$ - $ -$ -$ - $ -$ -$ - $ -$ -$ - $ -$ -$ - $ -$ -$ - $ -$ -$ - $ -$ -$ - $ -$ -$ - Total Credit PIF Revenues Received for the Month -:~J~;t1::: ··: f~t➔r::;_:.: --~-r~;~~--., " Monthly Total Duo Paid Olscreoancy $ -$ -$ - $ -$ -$ - $ -$ -$ - $ -$ -$ - $ -$ -$ - $ -$ -$ - $ -$ -$ - $ -$ -$ - $ -$ -$ - $ -$ -$ - $ -$ -$ - $ -$ -$ - $ -$ -$ - $ -$ -$ - $ -$ -$ - $ -$ -$ - $ -$ -$ - $ -$ -$ - $ -$ -$ - $ -$ -$ - $ -$ -$ - $ -$ -$ - , ... .......... ,..,..;:~~:~~ . . ·-__ , ... ,., .. •··· . .. ·~_ .. __ _._~;f~%-~itr-!":;~. --... ~.:'.;~~; .--~..::t.. ,. . , . •. {. ... -•-:.· ~A-1,'_l.-:~!:'~;".:· :; .. -~,: . ·- Paid to: AFWPIC TFD PIC Disbursements During the Month: Date Check# Amt of Disbursement ! $ $ ! Total Credit PIF Revenue Received ! AFWPIC TFD PIC $ $ $ Month Year To Date -1 $ -1 $ -1 Total Credit PIF Revenue Paid to PICs Month Year To Date ~:~ . ~~;·i: :/~:m~~~]?t?I:?~0T~~:;;m;f,fi;:~::--r·, Credit PIF Trust Bank Account Wells Fargo Bank Account# xxxxxxxxxxx Per Wells Fargo Bank Statement Beginning Balance Deposits Checks Cleared Bank Fees Ending Bank Balance Checks Written But Not Cleared Ck# Ck# Ck# Deposits in Transit Total Total Deposits in Transit Ending Book Balance $ $ $ $ $ $ $ $ $ $ 6926)2 ll EXHIBIT G SDMS Fee Schedule [Follows this Page] G-1 SPECIA.L DISTRICT MANAGEMENT SERVICES, INC. CURRENT FEE SCHEDULE Hourly Rate Plus Expenses $130.00 EXHIBitH Schedule of Eligible Costs and Allocation Thereof Earth Work Fill/Earthwork $2,090,999 $1,058,410 $3,149,409 Clear, Grub, Stockpile $ 707,569 $ 46,492 $ 754,061 Surveying• $ 39,465 $ 9,587 $ 49,052 Soil Testing $ 73,627 $ 7,264 $ 80,891 Erosion Control $ 47,601 $ 22,338 $ 69,939 Total Earth Work Costs $2,959,261 $1,144,091 ' $4,103,352 Jake Jabs Boulevard Road $ 684,560 $ 251,645 $ 936,205 Water Line $ 204,171 $ 106,451 $ 310,622 Traffic Light $ 251,563 $ 251,563 Curb, Gutter & Sidewalk $ 470,025 $ 470,025 Lighting $ 163,516 $ 163,516 Landscaping $ 432,647 $ 432,647 TotarJake Jabs Blvd. C(!i;ts. $ ;2,206,482 $ : 358,096 $2,564,578 Firestone Boulevard Roadway Improvements $ 213,263 $ 213,263 Traffic Light $ 251,563 $ 251,563 Lighting $ 100,625 $ 100,625 Sidewalk $ 174,749 $ 174,749 Landscaping $ 371,236 $ 371,236 Total Firestone Blvd. Costs $1,111,436 $ 0.00-$1,111,436 1-25 Frontage Road, Accel/Decel $ 389,911 $ 389,911 $ 779,822 ----·----· West Side Decel $ 163,108 $ 163,108 Landscaping $ 39,878 $ 39,878 $ 592,897 Total 1-25.Frontage Costs . . . .. $ 389,911 $ 982,808 Internal Roads Internal Public Streets $ 912,378 $ 912,378 Sidewalk $ 190,181 $ 190,181 Lighting $ 113,203 $ 113,203 Landscaping $ 277,074 $ 277,074 --···--.. .. 6926JZ.9 H-1 TOTAL ELIGIBLE TFDCOSTS AFWCOSTS COSTS' Total Internal Roads $1,492,836 $ 0.00 $1,492,836 Other Storm Sewer $1,213,630 $ 462,600 $1,676,230 Santtary Sewer $ 398,435 $ 37,114 $ 435,549 ~--Water Line $1,000,238 $ 303,031 $1,303,269 Engineering Design' $ 280,000 $ 138,500 $ 418,500 Engineering Review and Inspection $ 274,825 $ 134,061 $ 408,886 Landscape Design ' $ 212,271 $ 212,271 Regional Trail Enhancements $ 731,141 $ 731,141 Firestone Entry Landscaping $ 72,035 $ 72,035 Firestone Entry Monumentation $ 100,625 $ 100,625 Total Other $4,283,200 $1,075,306 $5,358,506 Sub Total $12,646,112 $2,967,404 $15,613,516 Contingency -15% THF, 5% AFW $1,896,917 $ 148,370 $2,045,287 Fixed Costs Oil and Gas Relocation ' $ 80,000 $ 245,000 $ 325,000 CBT Water Shares $1,656,000 $ 184,000 $ 1,840,000 Total Fixed Costa $1,736,000 $ 429,000 $2,165,000 TOT Al ELIGIBLE COSTS ' $16,279,029 $3,544,774 $19,823,803 1 Pursuant to the PIRA (including Exhibit C thereof}, the items set forth in this Exhibit H are intended lo be ultimately owned, operated and maintained by the Town, or (as in the case of imported fill and compaction (Fill/Earthwork)) are intended lo benefit property to be owned by or dedicated to the Town. AFW Costs shown above are actual costs. TFD Costs shown above are estimates only, and may be re-allocated among the categories, except that total TFD Costs for SuNeying, Soil Testing, Engineering Design, Engineen·ng Review and Inspection and Landscape Design may be reallocated only among these same categories and total TFD Costs and AFW Costs for these categories may not exceed the aggregate amount of $1,989,000. ' Oil and Gas Relocation Costs are only for the relocation of oil and gas facilities that would negatively impact the construction of the AFW Improvements and/or TFD Improvements, such category limtted to $300,000 maximum in the aggregate. ' Notwtthstanding that the total amount of Eligible Costs listed above is $19,823,803, reimbursement of AFW Costs and TFD Costs is subject to the overall CAP Amount in the principal amount of $11,000,000 (plus Accrued Interest thereon). Subject to and as more specifically set forth in the attached PIF Collection Services and Trustee Agreement ("Trustee Agreement"), allocation of the Cap Amount between the AFW PIC and the TFD PIC will be as follows: 6926)2.9 H-2 (a) AFW Costs: Of the $11,000,000 Cap Amount, a total principal amount of $3,544,774 is allocated to the AFW Costs, which amount (together with Accrued Interest thereon) has been incurred prior to the effective date of the Trustee Agreement. Accordingly, after the effective date of the Trustee Agreement, the only additional amounts the AFW PIC will incur will be for Accrued Interest on the $3,544,744 principal amount of AFW Costs. To the extent it submits Facially Valid Certifications of Eligible Costs therefor as provided in the Trustee Agreement, the maximum amount of Credit PIF Revenues and/or Contingent PIF Revenues that the AFW PIC is eligible to receive for reimbursement of lhe AFW Costs (subject to adjustment pursuant to Section 2.2(d)3(B) of the Trustee Agreement) is $3,544,774 principal (plus Accrued Interest thereon). (b) TFD Costs: The balance of the $11,000,000 Cap Amount, in the principal amount of $7,455,256. is allocated to reimburse the TFD PIC for lhe TFD Costs. The TFD PIC (or TFD on the PIC's behalf) has incurred principal costs for a portion of this amount (together with Accrued Interest thereon) prior to the effective date of the Trustee Agreement. and will be incurring additional principal costs (and Accrued Interest thereon) after the effective date of the Trustee Agreement. To the extent it submits Facially Valid Certifications of Eligible Costs therefor as provided in the Trustee Agreement, the maximum amount of Credit PIF Revenues and/or Contingent PIF Revenues that the TFD PIC is eligible to receive for reimbursement of the TFD Costs (subject to adjustment pursuant to Section 2.2(d)3(B) of the Agreement) is $7,455,256 principal (plus Accrued Interest thereon). Notwithstanding that the total amount of TFD Costs listed above is $16,279,029, the maximum principal amount of TFD Costs that may be reimbursed from the CrediUContingent PIF Trust Account pursuant to the Trustee Agreement is $7,455,256 (subject to adjustment pursuant to Section 2.2(d)3(B) of the Trustee Agreement) plus Accrued Interest thereon. The $8,823,773 excess principal amount of TFD Costs shown above is included for the sole purpose of clarilying that the $7,455,256 maximum amount of TFD Costs that is reimbursable from the CrediUContingent PIF Trust Account pursuant to the PIRA (as defined in the Trustee Agreement) and the Trustee Agreement may be disbursed to reimburse the TFD PIC for its actual Eligible Costs within any of the categories of TFD Improvements reflected above. subject to the !imitations on re-allocation set forth in end note 1 above and l\lrther subject to the overall Cap Amount of $11,000,000 in principal costs. 6926J2 9 H-3 Firestone A Community IriMotiori FAX COVER SHEET COMPANY: # OF PA~ j FOLLOW: ZsJ u., -b<J/1 (} P 4/:-Ob -sz/ -P / F Co J Le cti'ori S ,-u, -u .s. ~ !YKrt,_,,.., A-x-/luMJ,d-k.1,(,,/i;.0 ) f/tvshll-< C"/f; (7✓,,}~ 0 URGENT fJ-roll REVI£i □ PLEASE COMMENT □ PLEASE REPLY O PLEASE RECYCLE NOTES/COMMENTS: 151 Grant Ave.• P.O. Box 100 • Firestone, CO 80520 (303) 833-3291 • FAX (303) 833-4863 f fu5$ -2 .,q -J<-{"s:o J / L , DATE TIME NOV.28. 2:26PM BATCH SEND LATER STANDARD * * * TRANSMISSION RESULT REPORT ( NOV.28.2006 2=27PM l * * * FAX HEADER: ADDRESS MODE SHERMAN & HOWARD TS C @ D CONFIDENTIAL FORWARDING DETAIL p E F TIME PAGE RESULT PERS. NAME 1'14"" P. 4 OK POLLING ECM FINE M > MEMORY REDUCTION P. 1 FILE 066 A Community In Motion FAX COVER SHEET COMPANY: # OF PAGES TO FOLLOW: DAT~ 11•1 l•O" 0 URGENT ~R REVIEW □ PLEASE COMMENT □ PLE..!.SB REPLY □ PLEASE RECYCLE 151 Grant Ave.• P.O. Box 100 • Firestone, CO S0520 (303) 833-3291 • PAX (303) 833-4863 '"t O ;,.i'C ·-f.1-:· A 1$1 * * * TRANSMISSION RESULT REPORT C NOV.28.2006 2:29PM) * * * FAX HEADER: DATE TIME ADDRESS MODE NOV.28. 2:28PM 3032981627 TES * BATCH L SEND LATER S STANDARD C CONFIDENTIAL @ FORWARDING D DETAIL TIME PAGE RESULT PERS. NAME 0'48" P. 4 OK P POLLING E ECM F FINE M MEMORY > REDUCTION P. 1 FILE 067 RESOLUTION NO. 06-S~ RESOLUTION TO ADOPT BUDGET TOWN OF FIRESTONE, COLORADO A RESOLUTION SUMMARIZING EXPENDITURES AND REVENUES FOR EACH FUND AND ADOPTING A BUDGET FOR THE TOWN OF FIRESTONE, COLORADO, FOR THE CALENDAR YEAR BEGINNING ON THE FIRST DAY OF JANUARY, 2007 AND ENDING ON THE LAST DAY OF DECEMBER, 2007. WHEREAS, the Board of Trustees of the Town of Firestone has directed the Town Administrator to prepare and submit a proposed budget to said governing body at the proper time; and WHEREAS, the Town Administrator has submitted a final proposed budget to this governing body on December 14, 2006 for its consideration; and WHEREAS, upon due and proper notice, published or posted in accordance with the law, said proposed budget was open for inspection by the public at a designated place, and interested taxpayers were given the opportunity to file or register any objections to said proposed budget; and WHEREAS, in accordance with Article X, Section 20 of the Colorado Constitution, approved by the voters on November 3, 1992, and "Amendment One Emergency Reserve" is included in the budget in a total amount estimated to equal three percent (3%) of the Town's fiscal year spending excluding bonded service, the final amount to be calculated when necessary final information is available to the Town; and WHEREAS, whatever increases may have been made in expenditures, like increases were added to the revenues, so that the budget remains in balance as required by law. NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF TRUSTEES OF THE TOWN OF FIRESTONE, COLORADO: Section 1. That the budget as submitted, amended, and as attached to this resolution, be, and the same hereby is, approved and adopted as the budget of the Town of Firestone for the year stated above. Section 2. That the budget hereby approved and adopted shall be signed by the Mayor and Town Clerk and made a part of the public records of the Town. 2006. Attest: INTRODUCED, READ AND ADOPTED this Michael Simone Mayor 2 day of{);~ emilEr: 2007 CONSOLIDATED BUDGET SUMMARY· SOURCES & USES OF FUNDS UOYemlTl(lfl!AI I '""" Fn:ud;i~F~ ~Ftlmll General I Special Revenue Funds I Debt Service I Capital Im emel'd Funds Pension Fund En19rprise Funds Description Genenil I .. ,,.. I ConHrvation I Highway& I FFA I ~ I o,~ I Old lmp,d I CIP °"'""' w-2007 Fund '""" Trust -· '""' ~ ...... Fee Fund Pension Fund '""' , ... , SOURCES OF FUNDS. Boginnlng Reserve• 1,048,533 374,541 132,800 504,276 22,784 59,188 7,133 230,515 3,929,488 41,645 1,140,129 7,489,033 Curren! Revenues: Taxes and Assessments 2,919,885 388,514 61,000 69,561 2,264,750 5,703,710 lmpad Fees 135,000 13,572 1,170,000 1,318,572 Ucensu and Permits 579,850 4,000 583,850 lntergovemlnllflUl:I 200,000 24,000 25,500 249,500 Char,;ie1 for 5etvices 97,200 1,607,760 1,704,960 rmes and Forteits 160,000 160,000 Interest, Donations. & Misc 30,000 15,000 4,000 21,000 300 2,977 300 500 115,000 4,000 65,000 258,077 Debt Proceeds 150,000 150,000 °"'" 23000 436000 1 000 8 500 130309 598 809 Total Currenl Revenues 3,712 735 786000 28000 661,714 300 63,977 69861 14,072 1,285,000 12,500 4 093,319 10 727 478 Other Soun:es: lntemal Transfers In 344 000 1100000 618 625 240000 100000 2 402 625 Total Other Soun:es 344 000 1,100,000 618,625 240,000 100000 2 402 625 Total SOurca of Funds 5,103,268 2,260,541 160,800 1,784,615 263,084 123,165 76,994 344,587 5,214,488 54,145 51233,448 20,619,138 USES OF FUNDS: Curren! Expenditures: Govemement Services 927,262 296,064 15,750 481,572 1,720,648 Finance 72,180 72,180 PlaMing & Development 106,750 50,000 156,750 Operations & Inspections 425,000 150,000 343,275 823,040 1,741,315 PublieSafety 1,923,091 1,923,091 PublieWoits 247,784 52,000 ' 299,764 Debt & Lease Service 55,000 30,606 61,086 155,000 71,770 13,620 387,082 Capital Expellditure 436,000 1,663,700 703,681 70,000 2,834,330 5,707,711 °"'" 34145 34145 ® Total Cutrenl Expenditures 4,193068 1946306 1 404,108 225 000 71,770 15750 4 186 707 12042707 Other Uaes: 2,402,625 ® Internal Transfers Out 100,000 50,000 320,000 1,932,625 ~g~-9101200 314,235 60,800 380,509 38,084 731165 5,224 _ 241587_ --31281,883 _ 381395 11046?41 61173,8041 Total Usoa of Funda 5,103,268 2,260,541 160,800 1,784,615 263,084 123,165 76,994 344,587 5 214,488 54,145 5,233,448 20,619,136 f..@=-14,445, 332_ )001 -rM ¼F,J;+,,,,uS ~ --r ¼N>'>t<-<i,;. . Town of Firestone Provisional Budget Request 2007 Budget General Highway Water Descriotion Fund Fund Park Fund Fund Total Potential Revenues Sales & Use Tax (by 2nd Ort) - lntergovernment Revenues & Fees - Water Sales - Impact Fees Grant Fees Sub-total Revenues $ -$ -$ -$ - Expenses Health & Welfare: Christmas & Flag Decorations & Expenses 5,000 5,000 - Signage - School Crossing -Flashing Lights 18,000 18,000 - Parks - Onorato Park Upgrades 200,000 200,000 - EmEJIO~ee Benefits & Personnel - Tuition Reimbursement 16,500 2,500 3,000 22,000 - Personnel - Administrative Assistant 30,000 -10,000 40,000 Accountant 30,000 15,000 45,000 Planner 1/11 45,000 45,000 Public Works -Mechanic Assistant 9,666 9,600 9,600 28,866 Assistant Utility Billing Clerk Benefits 16,053 1,344 4,844 22,241 Sub-total Expenses $ 152,219 $ 31,444 $ 200,000 $ 42,444 $ 426,107 Impact on Fund Balance $(152,219) $(31,444) $(200,000) $(42,444) $(426,107) RESOLUTION NO. 06-fr_ TOWN OF FIRESTONE, COLORADO A RESOLUTION APPROPRIATING SUMS OF MONEY TO THE VARIOUS FUNDS AND SPENDING AGENCIES, IN THE AMOUNTS AND FOR THE PURPOSES AS SET FORTH BELOW, FOR THE TOWN OF FIRESTONE, COLORADO, FOR THE 2007 BUDGET YEAR. WHEREAS, the Board of Trustees has adopted the annual budget in accordance with the Local Government Budget Law, on December 14, 2006; and WHEREAS, the Board of Trustees has made provision therein for revenues in an amount equal to total proposed expenditures as set forth in said budget; and WHEREAS, it is required by law but also necessary to appropriate the revenues provided in the budget to and for the purposes described below, so as not to impair the operation of the Town. NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF TRUSTEES OF THE TOWN OF FIRESTONE, COLORADO: Section 1. That the following sums are hereby appropriated from the revenues of each fund, for the purposes stated: General Fund Total General Fund Expenditures & Transfers $4,193,068 Park Fund Total Park Fund Expenditures & Transfers $1,946,306 Conservation Trust Fund Total Conservation Trust Fund Expenditures & Transfers $100,000 Highway and Streets Fund Total Street and Highway Fund Expenditures & Transfers $1,404,106 Water Fund Total Water Fund Expenditures & Transfers $4,186,707 Impact Fee Fund (old; per Ord. 347 and Res. 96-23) Total Impact Fund ( old) Expenditures & Transfers $320,000 Attest: Capital Improvement Fund Roadway Impact: Drainage Impact: Regional Park: New Administration Building: Under grounding: $618,625 $244,000 $800,000 $170,000 $100,000 Total Capital Improvement Fund Expenditures & Transfers Debt Service Fund Total Debt Service Fund Expenditures & Transfers Open Space Trust Total Open Space Trust Fund Expenditures & Transfers Pension Fund (Old Hire Plan) Total Pension Fund Expenditures & Transfers Firestone Finance Authority Fund Total Firestone Finance Authority Fund Total Appropriations & Transfers: $1,932,625 $71,770 $50,000 $15,750 $225,000 $14.445.332 INTRODUCED, READ, and ADOPTED this t1"' day of___,,D=e=ce=m=b=e.,__r _,, 2006. YY7 Michael Simone Mayor 2 BUDGET SUMMARY-ALL FUNDS Original Budget Adual 2004 Actual 2005 2006 Estimated 2006 Budget 2007 GENERAL FUND .. . Balance B~lnni!!Q of Year $ 794,936 $ 639,981 $ 762,580 $ . -857,808 $ 1,046,533 All Revenues Sources 2,883,333 3,602,403 3,326,222 3,675,353 4056,735 Total Resources Available 3,678,269 4,242,384 4,088,802 4,533,161 . 5,103,268 All EXnPnditures & Transfers 3038 268 3,384,576 3,548 445 ., 3,486,628 4 193 068 -- Eme~eng Reserves Reaulred 85,719 85,719 91,943 91,029 106,623 Total Fund Balance End of Year $ 639.981 I S 857 808 $ 540 357 $ 1046533 I$ 910 201 Mill Leyy 6.209 6.209 6.209 6.209 6,209 PARK FUND . . , . Balance B~!nnlng of Year $ 358,050 s 92,025 $ 320,671 328,570 374,541 All Revenues Sources 395,169 937 932 1,428,500 495,059 1,886,000 Total Resources Available 753,219 • 1,029,957 1,749,171 823 629 2,260,541 All Exaenditures & Transfers 661,194 701 387 1.734 892 · 449 087 1,946,306 . Emerge!'.!9' Reserves Reoulrerl 19,836 21,042 52,047 13,473 58,389 Total Fund Balance End or Year IS 92025 I$ 328 570 s 14279 I$ 374 541 I $ 314 235 CONSERVATION TRUST Balance B~lnnlng of Year $ 57,252 $ 77,902 102,580 $ 104,800 $ 132,800 All Revenues Sources 20,650 26,898 24,000 28,000 28,000 Total Resources Available 77,902 104,800 126,580 132,800 160,800 All Ex nditures & Transfers . . 100000 . 100,000 Total Fund Balance End of Year IS 77902 I$ 104.800 $ 26.580 I $ 132800 I$ 60.800 HIGHWAY & SREETS FUND Balance B~lnni~ of Year $ 584,382 $ (2,318 $ 438,327 s 568,769 s 504,276 Alt Revenues Sources 1,619,737 1,965,128 779,300 960,400 1,280,339 Total Resources Avallable 2,204,119 1,962.810 1,217,627 1,529,169 1,784,615 All Exoenditures & Transfers 2,206,437 1 394,041 967.234 1,024,893 1,404,106 Emergen9" Reserves R ulred 66,193 41,821 29,017 30,747 42,123 Total Fund Balance End of Year $ 12 318 s 568 769 I S 250 393 I $ 504 276 $ 380.509 ,. . ' WATER FUND . -' . Balance B~Jnnlng of Year 1,536,569 2,064,964 2,406,635 -2,394,836 1,140,129 All Revenues Sources 4,547,383 4,557,254 , 3,904,750 4,233,696 -~ 4,093,319 Total Resources Available 6,083,952 ., ~· 6,622,218 6,311,385 6,628,532 5,233,448 All Expenditures & Transfers 4,018 988 4,227,382 5 625,534 5 488403 4 186,707 Emerg~y Reserves Reouirerl 188,339 203,818 207,583 207,583 Total Fund Balance End of Year IS 2 064 964 $ 23948361$ 685 851 $ 1140.129 I$ 1 046.741 OLD IMPACT FEE FUND Balance Beginning of Year 596,165 701,003 224,883 234,443 230,515 Revenues 193,632 83,440 58,050 21,072 114,072 Total Resources Available 789,797 784,443 282,933 255,515 344,587 Expenditures 88 794 550,000 225,000 25000 320,000 Emergen9" Reserves Reauirerl 668 668 Total Fund Balance End of Year II 701 003 $ 234 443 I S 57933 I$ 230 515 $ 24 587 BUDGET SUMMARY-ALL FUNDS Original Budget Actual 2004 Adual 2005 2006 Estimated 2006 Budget 2007 .. CIPFUND .- ~ . . Balance B~Jnnl!!9: of Year 1,670,500 2,397,936 2,638,357 3,040,043 .. 3,929,488 Revenues 1,603,359 1,878,107. 1,578,500 1,407,500 1,285,000 Total Resources Available 3,273,859 4,276,043 4,216,857 4,447,543 5,214.488 Transfers 875,923 , 1,236,000 1,161,000 518,055 1932625 I I , I -. I " I Total Fund Balance End of Year IS 2397936 I$ 30400431$ 3 055 857 s 39294881$ 3 281 863 DEBT SERVICE FUND . . Balance B~Jnnlng of Year 1,801 1,694 $ 1,456 6,023 $ 7,133 Revenues 67,106 69,776 $ 69,888 69,888 69,861 Total Resources Available 68,907 71,470 71,344 75,911 76,994 Expenditures • 67,213 65447 $ 68 778 68,778 71770 I I Total Fund Balance End of Year IS 16941$ 6023 I$ 25661$ 7133 IS 5 224 Mill le~ 1.210 1.000 0.840 0.840 0.720 OPEN SPACE FUND Balance Beginni!!9 of Year -38,097 60,097 61,188 59,188 Revenues 38,097 23,091 22,500 23,000 63,977 Total Resources Avallable 38,097 61,188 82,597 84,188 123,165 Transfers -25,000 25,000 50,000 Eme~e Reserves Reciuired - Total Fund Balance End of Year IS 38097 I$ 611881$ 57597 I$ 59188 $ 73 185 OLD HIRE PENSION FUND . --·~ . Balance B~lnni!!9 of Year 50,529 48,254 45,992 • 45,092 . 41,645 Revenues 13,195 12.409 13,453 12,153 . . 12,500 Total Resources Avallable 63,724 60,663 59,445 57,245 54,145 Transfers/Exoenditures 15,470 15,571 15550 15,600 15,750 Emergen~ Reserves Reaulred . . Total Fund Balance End of Year $ 482541 $ 450921$ 43895 s 41 845 s 38 395 . FIRESTONE FINANCE AUTHORITY .. · . Balance B~lnnlng of Year . . 11,097 8,496 22,784 Revenues -2,045,056 2,270,000 110,600 · 240,300 Total Resources Available . 2,045,056 2,281,097 119,096 263,084 Transfers/Ex ndllures 2 036,560 2 270,000 96312 225,000 Emerge~ Reserves Rmiulred . 68,100 Total Fund Balance End of Year IS ·I$ 8498 $ 110971$ 22 784 $ 38084 I I I I I All FUNDS COMBINED Balance Beginning of Year 5,850,184 8,059,537 7,012,675 7,650,068 7,489,033 Revenues 11,381,661 15,201,494 13,475,163 11,036,721 13,130,103 Total Resources Avallable 17,031,845 21,261,031 20,487,838 18,688,789 20,619,136 Transfers/Expenditures 10 972 308 13 610.964 15741433 11197756 14 445 332 Emergency Reserves Required 360,955 353,268 380,590 342,831 275,235 All Funds Balance End of Year $ 6059 537 $ 7 650 087 $ 4 748 405 s 7.489.033 s 6.173.804 I I I I I I I I I I Total Mill Levv I 7.419 I 7.209 I 7.049 I 7.049 I 6.929 TRANSFERS BETWEEN FUNDS 2l)b6-Esilm•t• 2®7;e FUND ilTransfers I' l..nsfe.il .... 1Transfers1I snsfersn ~ 1--1n-1 Out 1-ln _ Out General Fund :, ' In -From CIP Fund (Admin Building) 100,000 ~ 100,000 In -From CIP Fund (Drainage) 10,000 . 10,000 244,000 . · 244,000 $ 10,000 $ . $ 10,000 $ 344,000 $ 344,000 Park Fund In -From Conservation Trust . . . 100,000 100,000 In -From Old Impact Fee Fund . . 250,000 250,000 In· From CIP Fund (Parks) . 750,000 . 750,000 $ . $ $ $ 1,100,000 $ 1,100,000 Conservation Trust Fund Out -To Firestone Finance Authority . . . . Out -To Park Fund . . . (100,000 1100,000 $ . $ $ $ . $ 1100,000 $ 1100,000 Highway & Streets Fund In -From CIP Streets 448,055 . 448,055 618,625 618,625 $ 448,055 $ . $ 448,055 $ 618,625 $ . $ 618,625 Old Impact Fee Fund In -From CIP Fund (Undergrounding) . . 100,000 100,000 Out -To Firestone Finance Authority (25,000) (25,000) . (70,000) (70,000) Out -To Par11: Fund . . . 1250,000 1250,000 $ $ 125,000 $ 125,000 $ 100,000 $ (320,000 $ 1220,000 CIP Fund Out -Highway & Streets Fund (448,055) (448,055) . (618,625) (618,625) Out -General Fund (Drainage) (10,000) (10,000) . (244,000) (244,000) Out -General Fund (Admin Building) (100,000) (100,000) Out -Park Fund . (750,000) (750,000) Out -To Firestone Finance Authority (Park) (25,000) (25,000) (50,000) (50,000) Out -To Firestone Finance Authority (Building) (35,000) (35,000) (70,000) (70,000) Out -To Impact Fee Fund . . . (100,000 1100,000 $ . $ (518,055 $ 1518,055 $ $ 11,932,825 $ 11,932,625 Open Space Fund Out -To Firestone Finance Authority . 125,000' 125,000 150,000 150,000 $ . $ (25,000 $ 125,000 $ $ 150,000 $ 150,000 Firestone Finance Authority Fund In -From Conservation Trust . In -From Open Space Fund 25,000 50,000 In -From Impact Fee Fund 25,000 70,000 In -From CIP Fund (Parks) 25,000 50,000 tn -From CIP Fund (Building) 35,000 70,000 $ 110,000 $ . $ 110,000 $ 240,000 $ $ 240,000 Total $ 568,055 $ (568,055 $ . $ 2,402,825 $ (2,402,625 $ . FUND RESERVES ANALYSIS BUDGET YEARS 2005-2006-2007 2005 Actual Beginning Ending Reserves Expenses Reserves Net Fund 1-1-05 Revenues Transfers 12-31-05 Chanae General Fund 639,981 3,602,403 3,384,576 857,808 217,827 Park Fund 92,025 937,932 701,387 328,570 236,545 Conservation Trust Fund 77,902 26,898 104,800 26,898 Highway & Streets Fund (2,318) 1,965,128 1,394,041 568,769 571,087 Water Fund 2,064,964 4,557,254 4,227,382 2,394,836 329,872 Old Impact Fee Fund 701,003 83,440 550,000 234,443 (466,560) CIP Fund 2,397,936 1,878,107 1,236,000 3,040,043 642,107 Debt Service Fund 1,694 69,776 65,447 6,023 4,329 Open Space Fund 38,097 23,091 61,188 23,091 Old Hire Pension Fund 48,254 12,409 15,571 45,092 (3,162) Firestone Finance Authority Fund 2 045 056 2 036 560 8496 8496 Total 6,059,537 15,201,494 13,610,964 7,650,067 1,590,529 2006 Estimates Beginning Estimated Est. Ending Reserves Estimated Expenses Reserves Net Fund 1-1-06 Revenues Transfers 12-31-06 Channe General Fund 857,808 3,675,353 3,486,628 1,046,532 188,725 Park Fund 328,570 495,059 449,087 374,541 45,972 Conservation Trust Fund 104,800 28,000 132,800 28,000 Highway & Streets Fund 568,769 960,400 1,024,893 504,276 (64,493) Water Fund 2,394,836 4,233,696 5,488,403 1,140,129 (1,254,707) Old Impact Fee Fund 234,443 21,072 25,000 230,515 (3,928) CIP Fund 3,040,043 1,407,500 518,055 3,929,488 889,445 Debt Service Fund 6,023 69,888 68,778 7,133 1,110 Open Space Fund 61,188 23,000 25,000 59,188 (2,000) Old Hire Pension Fund 45,092 12,153 15,600 41,645 (3,447) Firestone Finance Authority Fund 8496 110 600 96 312 22 784 14,288 Total 7,650,067 11,036,721 11,197,756 7,489,031 (161,036) 2007 Budaet Estimated Estimated Est. Ending Reserves Estimated Expenses Reserves Net Fund 1-1-07 Revenues Transfers 12-31-07 Channe General Fund 1,046,532 4,056,735 4,193,068 910,200 (136,333) Park Fund 374,541 1,886,000 1,946,306 314,235 (60,306) Conservation Trust Fund 132,800 28,000 100,000 60,800 (72,000) Highway & Streets Fund 504,276 1,280,339 1,404,106 380,509 (123,767) Water Fund 1,140,129 4,093,319 4,186,707 1,046,741 (93,388) Old Impact Fee Fund 230,515 114,072 320,000 24,587 (205,928) CIP Fund 3,929,488 1,285,000 1,932,625 3,281,863 (647,625) Debt Service Fund 7,133 69,861 71,770 5,224 (1,909) Open Space Fund 59,188 63,977 50,000 73,165 13,977 Old Hire Pension Fund 41,645 12,500 15,750 38,395 (3,250) Firestone Finance Authority Fund 22 784 240 300 225 000 38 084 15 300 Total 7,489,031 13,130,103 14,445,332 6,173,804 (1,315,229) Le..o-\.--l)u( 6-fl 1 . . vtvJ. \'<\\$5> \ ~ f<e2-so \ tA-\-~ ~ bls, -S'l · ~i~r\ I ;_W_b heo o_a . Ck , s'l :~Q (1~:ir-o.::t\ J=----- ( 1';--~~~· ti~~---· c=;;;;:;=====:=:=:~_ ~-=-====-?:: AMENDED CERTIFICATION OF VALUES Name of Jurisdiction: FIRESTONE New District: N USE FOR STATUTORY PROPERTY TAX REVENUE LIMIT CALCULATIONS (5.5% LIMIT) ONLY In accordance with 39-5-121(2)(a) and 39-5-128(1), C.R.S., The total Assessed Valuations for taxable year 2006 In Weld On DECEMB_ER 1, 2006 Are: Previous Year's Net Total Assessed Valuation: $ 83,287,660 Current Year's Gross Total Assessed Value t : $ 96,612,970 (-) Less TIF district increment, if any: $ 0 Current year's net total assessed valuation: $ 96,612,970 New Construction •: $ 6,432,060 Increased production of producing mine .. : $ 0 Annexations/Inclusions: $ 2,860,800 Previously exempt federal property••: $ 0 New primary Oil or Gas production from any $ 1,801,052 oil and gas leasehold or land (29-1-301(1 )(b) C.R.S.) •••: Taxes collected last year on omitted property $ 353.93 as of AUGUST 1 (29-1-301(1)(a) C.R.S.): Taxes abated and refunded as of AUGUST 1 $ 91.93 (29-1-301 (1 )(a) and 39-10-114(1 )(a)(l)(B) C.R.S.): :I: This value reflects personal property exemptions IF enacted by the jurisdiction as authorized by Art. X, Sec. 20(8)(b), Colo. Constitution • New Construction Is defined as: Taxable real property structures and the personal property connected with the structure . .... Jurisdiction must submit a certification to the Division of Local Government In order for a value to be accrued. (DLG52 & 52A) -Jurisdiction must submit an application to the Division of Local Government in order for a value to be accrued. (DLG 52B) USE FOR 'TABOR' LOCAL GROWTH CALCULATIONS ONLY In Accordance with the Art.X, Sec20, Colorado Constitution and 39-5-121(2)(b),C.R.S. The Actual Valuations for the Taxable Year 2006 In Weld On DECEMBER 1, 2006 Are: Current Year's Total Actual Value of All Real Property•: $ 690,032,411 ADDITIONS TO TAXABLE REAL PROPERTY: $ 58,881,710 Construction.of taxable real property improvements .. : Annexations/Inclusions: $ 3,980,894 Increased mining production"'**: $ 0 Previously exempt property: $ 0 Oil or Gas production from a new well: $ 2,058,345 Taxable real property omitted from the prevous year's tax $ 0 warrant.(Only the most current year value can be reported) : DELETIONS FROM TAXABLE REAL PROPERTY: $ 153,673 Destruction of taxable real property improvements: Disconnection/Exclusion: $ 0 Previously taxable property: $ 0 * This Includes the actual value of all taxable real property plus the actual value of religious, private schools, and charitable real property. -Construction Is defined as newly constructed taxable real property structures . ... Includes production from a new mine and Increase In· production of a producing mine. NOTE: All levies must be certified to the Board of County Commissioners no later than December 15, 2006 FILE COPY ---. CERTIFICATION OFT AX LEVIES for NON-SCHOOL Governments TO: County Commissioners' of Weld , Colorado. -------------------------~---- On behalf of the Town of Firestone (taxing entity) the Board of Trustees (governing body) of the Town of Firestone (local government) Hereby officially certifies the following mills to be levied against the taxing entity's GROSS $ 96,612,970 -~---.,--------------------..-assessed valuation of: (GROSS assessed valuation, Line 2 of the Certification of Valuation Form DLG 57 ~) Note: lflhe assessor certified a NET assessed valuation (AV) different than the GROSS AV due to a Tax Increment Financing (TIF) Area' the tax levies must be $ 96,612,970 -~-..-------------------- calculated using the NET AV. The taxing entity's total (NET assessed valuation, Line 4 of the Certification of Valuation Form DLG S7) property tax revenue will be derived from the·mill levy multiplied against the NET assessed valuation or:° Submitted: (not later than Dec. 15) _____ 1_2_11_5_12_0_0_6 ____ for budget/fiscal year (dd/mm/yyyy) PURPOSE (sec end notes for definitions and examples) 1. General Operating Expenses" 2. <Minus> Temporary General Property Tax Credit/ Temporary Mill Levy Rate Reduction' SUBTOTAL FOR GENERAL OPERA TING: 3. General Obligation Bonds and Interest' 4. Contractual ObligationsK 5. Capital ExpendituresL 6. Refunds/ AbatementsM 7. OtherN (specify): TOTAL • [Sum of General Operating] • Subtotal and Lines 3 to 7 Contact person: (print) Signed: LEVY2 6.209 mills -------- < 0.000 6.209 0.720 6.929 Daytime phone: Title: > mills lmms mills mills mills mills mills mills lmms 2007 (yyyy) REVENUE 2 $ 599,870.00 $< 0 > Is 599,870.00 $ 69,561.00 $ $ $ $ $ 1$ 669,431.271 Send one comp/e1ed copy of this rm to the Div sion of local Government (DLG), Room 521, 1313 Sherman Street, Denver, Colorado 80203 when the local government's adopted budget i submitted to DLG. Questions? Call DLG at (303) 866-2156. 1 If the taxing entity's boundaries include more than one county, you must certify the levies to each county. Use a separate form for each county and certify the same levies uniformly to each county per Article X, Section 3 of the Colorado Constitution. 2 Levies must be rounded to three decimal places and revenue must be calculated from the total NET assessed valuation (Line 4 of Form DLG57 on the County Assessor's final certification of valuation). Fonn DLG 70 (rev 8/06) Page I of4 CERTIFICATION OF TAX LEVIES, continued THIS SECTION APPLIES TO TITLE 32, ARTICLE 1 SPECIAL DISTRICTS THAT LEVY TAXES FOR PAYMENT OF GENERAL OBLIGATION DEBT (32-1-1603 C.R.S.). Taxing entities that are Special Districts or Subdistricts of Special Districts must certify separate mill levies and revenues to the Board of County Commissioners, one each for the funding requirements of each debt (32-1-1603, C.R.S.) Use additional pages as necessary. The Special District's or Subdistrict's total levies for general obligation bonds and total levies for contractual obligations should be recorded on Page I, Lines 3 and 4 respectively. CERTIFY A SEPARATE MILL LEVY FOR EACH BOND OR CONTRACT: BONDS': I. Purpose of Issue: Series: Date of Issue: Coupon Rate: Maturity Date: Levy: Revenue: 2. Purpose oflssue: Series: Date of Issue: Coupon Rate: Maturity Date: Levy: Revenue: CONTRACTSK: 3. Purpose of Contract: Title: Date: Principal Amount: Maturity Date: Levy: Revenue: 4. Purpose of Contract: Title: Date: Principal Amount: Maturity Date: Levy: Revenue: Use multiple copies of this page as necessary to report all bond and contractual obligations. Fonn DLG 70 (rev 8106) Page 2 of4 Notes: A Taxing Entity-A jurisdiction authorized by law to impose ad valorem property taxes on taxable property located within its territorial limits (please see notes B, C, and H below). For purposes of the DLG 70 only, a taxing entity is also a geographic area formerly located within a taxing entity's boundaries for which the county assessor certifies a valuation for assessment and which is responsible for payment of its share until retirement of financial obligations incurred by the taxing entity when the area was part of the taxing entity. For example: an area of excluded property formerly within a special district with outstanding general obligation debt at the time of the exclusion or the area located within the former boundaries of a dissolved district whose outstanding general obligation debt service is administered by another local governmentc. 8 Governing Body-The board of county commissioners, the city council, the board of trustees, the board of directors, or the board of any other entity that is responsible for the certification of the taxing entity's mill levy. For example: the board of county commissioners is the governing board ex officio of a county public improvement district (PIO); the board of a water and sanitation district constitutes ex officio the board of directors of the water subdistrict. c Local Government-For purposes of this line on Page I of the DLG 70, the local government is the political subdivision under whose authority and within whose boundaries the taxing entity was created. The local government is authorized to levy property taxes on behalf of the taxing entity. For example, for the purposes of this form: I. a municipality is both the local government and the taxing entity when levying its own levy for its entire jurisdiction; 2. a city is the local government when levying a tax on behalf of a business improvement district (BID) taxing entity which it created and whose city council is the BID board; 3. a fire district is the local government if it created a subdistrict, the taxing entity, on whose behalf the fire district levies property taxes. 4. a town is the local government when it provides the service for a dissolved water district and the town board serves as the board of a dissolved water district, the taxing entity, for the purpose of certifying a levy for the annual debt service on outstanding obligations. 0 GROSS Assessed Value -There will be a difference between gross assessed valuation and net assessed valuation reported by the county assessor only if there is a "tax increment financing" entity (see below), such as a downtown development authority or an urban renewal authority, within the boundaries of the taxing entity. The board of county commissioners certifies each taxing entity's total mills upon the taxing entity's Gross Assessed Value found on Line 2 of Form DLG 57. "Certification of Valuation by County Assessor, Form DLG 57 -The county assessor(s) uses this form (or one similar) to provide valuation for assessment information to a taxing entity. The county assessor must provide this certification no later than August 25 th each year and may amend it, one time, prior to December 10 th • F TIF Area-A downtown development authority (ODA) or urban renewal authority (URA), may form plan areas that use "tax increment financing" to derive revenue from increases in assessed valuation (gross minus net, Form DLG 57 Line 3) attributed to the activities/improvements within the plan area. The DOA or URA receives the differential revenue of each overlapping taxing entity's mill levy applied against the taxing entity's gross assessed value after subtracting the taxing entity's revenues derived from its mill levy applied against the net assessed value. c NET Assessed Value-The total taxable assessed valuation from which the taxing entity will derive revenues for its uses. It is found on Line 4 of Form DLG 57. "General Operating Expenses (DLG 70 Page 1 Line l}--The levy and accompanying revenue reported on Line I is for general operations and includes, in aggregate, all levies for and revenues raised by a taxing entity for purposes not lawfully exempted and detailed in Lines 3 through 7 on Page I of the DLG 70. For example: a fire pension levy is included in general operating expenses, unless the pension is voter-approved, if voter-approved, use Line 7 (Other). Form DLG 70 (rev 8/06) Page 3 of4 1 Temporary Tax Credit for Operations (DLG 70 Page 1 Line 2)-The Temporary General Property Tax Credit/ Temporary Mill Levy Rate Reduction of39-l-111.5, C.R.S. may be applied to the taxing entity's levy for general operations to effect refunds. Temporary Tax Credits (TTCs) are not necessary for other types of levies (non-general operations) certified on this form because these levies are adjusted from year to year as specified by the provisions of any contract or schedule of payments established for the payment of any obligation incurred by the taxing entity per 29-1-30 I ( I. 7), C.R.S., or they are certified as authorized at election per 29-l -302(2)(b), C.R.S. J General Obligation Bonds and Interest (DLG 70 Page 1 Line 3)-Enter on this line the total levy required to pay the annual debt service of all general obligation bonds. Per 29-1-30 I ( I. 7) C.R.S., the amount of revenue levied for this purpose cannot be greater than the amount of revenue required for such purpose as specified by the provisions of any contract or schedule of payments. Title 32, Article I Special districts and subdistricts must complete Page 2 of the DLG 70. K Contractual Obligation (DLG 70 Page 1 Line 4)-lf repayment of a contractual obligation with property tax has been approved at election and it is not a general obligation bond (shown on Line 3), the mill levy is entered on this line. Per 29-1-30 I (I. 7) C.R.S., the amount of revenue levied for this purpose cannot be greater than the amount of revenue required for such purpose as specified by the provisions of any contract or schedule of payments. L Capital Expenditures (DLG 70 Page 1 Line 5)-These revenues are not subject to the statutory property tax revenue limit if they are approved by counties and municipalities through public hearings pursuant to 29-1- 30 I ( 1.2) C.R.S. and for special districts through approval from the Division of Local Government pursuant to 29- 1-302( 1.5) C.R.S. or for any taxing entity if approved at election. Only levies approved by these methods should be entered on Line 5. M Refunds/Abatements (DLG 70 Page 1 Line 6)-The county assessor reports on the Certification of Valuation (DLG 57 Line 11) the amount of revenue from property tax that the local government did not receive in the prior year because taxpayers were given refunds for taxes they had paid or they were given abatements for taxes originally charged to them due to errors made in their property valuation. The local government was due the tax revenue and would have collected it through an adjusted mill levy if the valuation errors had not occurred. Since the government was due the revenue, it may levy, in the subsequent year, a mill to collect the refund/abatement revenue. An abatement/refund mill levy may generate revenues up to, but not exceeding, the refund/abatement amount from Form DLG 57 Line 11. 1. Please Note: If the taxing entity is in more than one county. as with all levies. the abatement levy must be uniform throughout the entity's boundaries and certified the same to each county. To calculate the abatement/refund levy for a taxing entity that is located in more than one county, first total the abatement/refund amounts reported by each county assessor, then divide by the taxing entity's total net assessed value, then multiply by 1,000 and round down to the nearest three decimals to prevent levying for more revenue than was abated/refunded. This results in an abatement/refund mill levy that will be uniformly certified to all of the counties in which the taxing entity is located even though the abatement/refund did not occur in all the counties. N Other (DLG 70 Page 1 Line 7)-Report other levies and revenue not subject to 29-1-30 I C.R.S. that were not reported above. For example: a levy for the purposes of television relay or translator facilities as specified in sections 29-7-101, 29-7-102, and 29-7-105 and 32-1-1005 (I) (a), C.R.S.; a voter-approved fire pension levy; a levy for special purposes such as developmental disabilities, open space, etc. Form DLG 70 (rev 8/06) Page 4 of 4 RESOLUTION NO. 0 l,-5 8 A RESOLUTION ESTABLISHING A FEE FOR THE PROVISION OF PORT ABLE BREA TH TESTS PROVIDED TO THE PUBLIC BY THE POLICE DEPARTMENT OF THE TOWN OF FIRESTONE, COLORADO. WHEREAS, the Board of Trustees finds that it is necessary to impose certain fees for services provided by the Town, which fees help ensure the Town is able to provide such services; and WHEREAS, the fee set by this resolution is reasonable and intended to defray the costs incurred by the Firestone Police Department in administering portable breath tests to members of the public. NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF TRUSTEES OF THE TOWN OF FIRESTONE, COLORADO: Section 1. A fee of six dollars ($6.00) per test shall be assessed for administering a portable breath test to any member of the public that requests such a test from the Town of Firestone Police Department. This fee shall not be assessed against any individual that submits to a portable breath test as part of a pending investigation of the Town of Firestone Police Department. Section 2. All prior resolutions or portions thereof inconsistent or conflicting with this resolution or any portion hereof are hereby repealed to the extent of such inconsistency or conflict. Section 3. The fees set by this resolution shall take on the date of adoption of this Resolution and may thereafter be amended from time to time by resolution of the Board of Trustees. "'"' PASSEDANDADOPTEDTHIS fl/ DAYOF C1ee.mh.tc , 2006. TOWN OF FIRESTONE, COLORADO ~ ~P. Simone, Mayor ---- ATTEST: 1 l/20fl006 8:27 PM (cdl] S:\FU'CSZone\Resolution\FceResohition (PBT) (11•20-06).doc I