HomeMy WebLinkAbout23-84 Approving Consolidated Service Plan for Vistas at Saddleback Metro District Nos 1-3 08-23-2023RESOLUTION III« "ILIA: BOARD OF TRUgSTEES III<. `I"IJE T WN OF
PLAN FOR THE N"ISTAS AT SADDLEBACK METROPOLITAN
DISTRICTNOS. 1-3
WIJEREAS, the Board of TrUstc:es of the rvl`ov n of Firestone ('13oaarc ") has received at
request to review and approve the Consolidated Service Plan (-Service Plan' Ior Vistas at
atcfcllel atck iM r°opoli a District Nos. 1- istricIs" ), n
WFIEREAS. following notice as required by law. the Board condUc°tecl at public hearing
on the retfraest on AUgUst 23, 2023. and now- desires to approve the Service Plan.
THEREFORE, BE IT RESOLVED BY THE BOARD I O 'rRUSTEES OF T14E
TOWN OF FIRESTONE, COLORADO:
Section I The Board of TrUstees ofthe ToNvit ofFirestone finds than:
() The Service Plan for the Districts s ksaas filed in the office ofthe planning n
eveloprttent Department of'the To n of Firestorte.and
(h) Pursuant to statute. the Board cal' Trust s of the 'l`a>w n ofJircstone has authority"
to review the Service Platt N ith reference to need, service and economic
feasibility. and
(e) .l lle Board of` sl rtastees of tine Town of firestone has reviewed tits: Service Platt,
the evidence and related exhibits. and has determined that the same meets the
rtrrrnici aal approval criteria tinder the Special District Act. and. therefore." has
determined to adopt as resolution of'approval o `the Service Plan fior the Districts.
Section') 1-1pon consideration of'the Service Plan for the; Districts" and evidence presented
-it the public hearing on the Seri ice plan, the Board Of Tr°crstees of the "f own off"xirestone sloes
finat deterntine and declare, as requires- by ,ss 3-1;-20 (?). '.R.S.. as follows:;
(aa) Thal there is Arffieiertt existing and pro ectecl treed fear organized service in the
area to be serviced hY the Districts,
(h) That the existing service in the area to be served by the Districts is inadequate for
present and rc eete l needs
(c) That the Districts are capable ot'providing economical and sufficient service to
the area within its proposed boundaries. and
(cl) That the area to be included in the Districts has, or Nvill have. the financial ability
to discharge e the pn.,lp sed indebtedness On ar reasonable basis.
Section 3In accordance with CKS. § '32-1-204.5(l)(c), the Board of Trustees hereby
approves the Service Plan for the Districts. as set forth in Exhibit A to this Resolut(on, subject to
and comingent upon compliance with the follo,.�Jng condition:
(a) The Districts shall not be authorized to issue Debt until the Districts have
reimbUrsed the Town b)r all the charges and fires it has incurred with its attorneys and consultant
relating to then- review of the Service Plan as approved herein,
It' any of' the above -stated conditions are riot met. the ']'own may revoke its approval of the
Service Plan by subsequent reSOILItiOn and pursue all legal and equitable rernedies available to it
for railure of'corripliance with SUCh conditions ol'approval,
INTRODUCED, READ AND ADOPTED thisA-3�t try 0r_A1
, , u & -k 2023.
TOWN OF l"IRF'STONF". COLORADO
___L.)rew Peterson. Mayor
EXHIBIT
Service I'lan
CONSOLIDATED SERVICE PLAN
FOR
VISTAS AT SADDLEBACK METROPOLITAN DISTRICT NOS. 1-3
Prepared
By
rn
WHITE BEAR ANKELE
ATTORNEYS AT' LAW
2154 East Commons Avenue, Suite 2000
Centennial, Colorado 80122
(303) 858-1800
Approval Date:
, 2023
I. INTRODUCTION........................................................................................................... 1
A. Purpose and Intent................................................................................................. 1
B. Need for the Districts............................................................................................ 1
C. Objective of the Town Regarding the Service Plan .............................................. 1
D. Consultants............................................................................................................2
II. DEFINITIONS................................................................................................................ 2
111. BOUNDARIES
IV. PROPOSED LAND USE, PROJECTED POPULATION PROJECTIONS, AND
CURRENT ASSESSED VALUATION........................................................................ 5
V. DESCRIPTION OF PROPOSED POWERS, IMPROVEMENTS, AND SERVICES
........................................................................................................................................... 6
A.
Powers of the Districts and Service Plan Amendment ......................................... 6
B.
Preliminary Engineering Survey.........................................................................
10
VI. FINANCIAL PROVISIONS........................................................................................
11
A.
General................................................................................................................II
B.
Maximum Voted Interest Rate and Maximum Underwriting Discount .............
12
C.
Mill Levies..........................................................................................................
12
D.
Debt Parameters..................................................................................................
13
E.
Debt Instrument Disclosure Requirement...........................................................
14
F.
Privately Placed Debt Limitation........................................................................
14
G.
TABOR Compliance...........................................................................................
15
H.
Districts' Organizational Costs and Operation and Maintenance Costs .............
15
I.
Town O&M Mill Levy........................................................................................
15
VII. ANNUAL REPORT...................................................................................................... 16
A. General................................................................................................................16
B. Reporting of Significant Events.......................................................................... 16
VIII. DISSOLUTION.............................................................................................................17
IX. DISCLOSURE NOTICES............................................................................................ 17
X. INTERGOVERNMENTAL AGREEMENT.............................................................. 18
XI. NON-COMPLIANCE WITH SERVICE PLAN ........................................................ 19
ii
LIST OF EXHIBITS
EXHIBIT A Vicinity Map
EXHIBIT B Initial Boundary Map and Legal Description
EXHIBIT C Financial Plan
EXHIBIT D Capital Plan - List of Public Improvements
EXHIBIT D-I List of Regional Improvements
EXHIBIT E Disclosure Notice
EXHIBIT F Intergovernmental Agreement
iii
A. Purpose and Intent.
The Districts are independent units of local government, separate and distinct from the Town. The
primary purpose of the Districts will be to finance the construction of the Public Improvements.
The Districts will provide ongoing operation and maintenance services as specifically set forth in
this Service Plan and in the Intergovernmental Agreement between the Town and the Districts.
This Service Plan is intended to accommodate the phasing of the Project and the infrastructure
needs of each phase. This Service Plan, including all exhibits hereto, supersedes all prior service
plans and service plan amendments.
B. Need for the Districts.
There are not currently other governmental entities, including the Town, located in the immediate
vicinity of the Districts that consider it desirable, feasible, or practical to undertake the planning,
design, acquisition, construction, installation, relocation, redevelopment, and financing of the
Public Improvements needed for the Project. The Districts are therefore necessary in order for the
Public Improvements required for the Project to be provided in the most economic manner
possible.
C. Objective of the Town Regarding the Service Plan.
The Town's objective in approving the Service Plan for the Districts is to authorize the Districts
to provide for the planning, design, acquisition, construction, installation, relocation, and
redevelopment of the Public Improvements from the proceeds of Debt to be issued by the Districts.
All Debt is expected to be repaid by taxes imposed and collected at a hill levy no higher than the
Maximum Debt Mill Levy, as the same may be increased as set forth in Section VLC.1; by Fees
as limited by Section V.A.20; and/or by Special Assessments as set forth in Section V.A.21.
This Service Plan is intended to establish a limited purpose for the Districts and explicit financial
constraints that are not to be violated under any circumstances. The primary purpose of the
Districts is to provide the Public Improvements associated with development pursuant to the
Approved Development Plan.
The Districts shall dissolve upon payment or defeasance of all Debt incurred or upon a court
determination that adequate provision has been made for the payment of all Debt, except that if
the Districts have ongoing operation and maintenance functions, the Districts shall not be required
to dissolve. Additionally, if the Boards of Directors of the Districts determine that the existence of
the Districts is no longer necessary to accomplish the purposes set forth in this Service Plan, the
Boards of Directors of the Districts shall promptly effectuate the dissolution of the Districts.
The Districts are authorized to finance the Public Improvements that can be funded from Debt
which is to be repaid from Fees, Special Assessments, or tax revenues collected from a mill levy
1
which shall not exceed the Maximum Debt Mill Levy, as well as other legally available sources of
revenue, and to maintain certain of the Public Improvements as set forth in this Service Plan and
the Agreement with the Town. It is the intent of this Service Plan to ensure to the extent possible
that no property bear an economic burden that is greater than that associated with revenues from
the Maximum Debt Mill Levy, the Maximum Operation and Maintenance Mill Levy, Fees, and
Special Assessments, even under bankruptcy or other unusual situations. Generally, the costs of
Public Improvements that cannot be funded within these parameters are not costs to be paid by the
Districts.
D. Consultants.
This Service Plan has been prepared by the following:
District Counsel
Blair Dickhoner
bdickhoner@wbapc.com
White Bear Ankele Tanaka & Waldron
2154 E. Commons Avenue, Suite 2000
Centennial, CO 80122
Underwriter
Jonathan Heroux
pjonathan.heroux@psc.com
Piper Sandler
1144 151h Street, Suite 2050
Denver, CO 80202
II. DEFINITIONS
District Engineer
Chris Shandor
cshandor@manhard.com
Manhard Consulting
1001 Bannock Street, Suite 107
Denver, CO 80204
In this Service Plan, the following terms shall have the meanings indicated below, unless the
context hereof clearly requires otherwise:
Approved Development Plan: means a development plan, subdivision development agreement,
final plat, or other land use application process established by the Town for the Project as approved
in its final form by the Town pursuant to the Town Code, as may be amended from time to time
pursuant to the Town Code, that identifies, among other things, the Public Improvements necessary
for facilitating development of property within the District Boundaries.
Board or Boards: means any one or all of the boards of directors of the Districts.
Capital Plan: means the Capital Plan described in Section V.B. which includes a list of the Public
Improvements financed by the Districts and the cost of the Public Improvements.
W
C.R.S.: means the Colorado Revised Statutes, as the same may be amended from time to time.
Debt: means bonds, notes, debentures, certificates, capital leases or other multiple fiscal year
obligations for the payment of which the Districts have promised to impose an ad valorem property
tax mill levy.
District or Districts: means any one or all of the Vistas at Saddleback Metropolitan District Nos.
1-3, inclusive.
District Boundaries: means the property within the Initial Boundaries, as such may be adjusted
from time to time in accordance with this Service Plan.
End User: means any owner, or tenant of any owner, of any taxable improvement within the
Districts who is intended to become burdened by the imposition of ad valorem property taxes
subject to the Maximum Debt Mill Levy. By way of illustration, a resident homeowner, renter,
commercial property owner, or commercial tenant is an End User. A person or entity that
constructs homes or commercial structures with the intention of selling to others is not an End
User.
External Financial Advisor: means a consultant that: (i) advises Colorado governmental entities
on matters relating to the issuance of securities by Colorado governmental entities, including
matters such as the pricing, sales, and marketing of such securities and the procuring of bond
ratings, credit enhancement, and insurance in respect of such securities; (ii) shall be an underwriter,
investment banker, or individual listed as a public finance advisor in the Bond Buyer's Municipal
Market Place; and (iii) is not an officer or employee of any of the Districts and has not been
otherwise engaged to provide services in connection with the transaction related to the applicable
Debt. If the Districts have engaged a municipal adviser that meets the foregoing criteria and has a
fiduciary duty to the Districts, the municipal adviser may fill the role of the External Financial
Advisor.
Fees: means any fee, rate, toll, penalty, or charge imposed or received by the Districts for services,
programs, or facilities provided by the Districts, as described in Section V.A.20 below.
Financial Plan: means the Financial Plan described in Section VI and attached as Exhibit C which
describes how the Public Improvements are expected to be financed and how the Debt is expected
to be incurred.
Initial Boundaries: means the boundaries of the Districts' area described in the Initial Boundary
Map and Legal Description, attached hereto as Exhibit B.
Intergovernmental Agreement: means the intergovernmental agreement between the Districts and
the Town, a form of which is attached hereto as Exhibit F. The Intergovernmental Agreement may
be amended from time to time by the Districts and the Town.
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Maximum Debt Mill Levy: means the maximum mill levy the Districts are permitted to impose
for payment of Debt as set forth in Section VI.C.1 below.
Maximum. Debt Mill Levy Imposition Term: means the period of time, commencing upon the date
when the Districts first issue any debt, in which the Districts' Debt mill levy may be imposed.
Maximum Operation and Maintenance Mill Levy- means the maximum mill levy the Districts are
permitted to impose for payment of Operation and Maintenance Costs, as set forth in Section
VI.C.2 below.
Mill Levy Adjustment: means, if, on or after January 1, 2023, there are changes in the method of
calculating assessed valuation or any constitutionally mandated tax credit, cut, or abatement, the
Maximum Debt Mill Levy and the Maximum Operation and Maintenance Mill Levy may be
increased or decreased to reflect such changes, such increases and decreases to be determined by
the Board in good faith (such determination to be binding and final) so that to the extent possible,
the actual tax revenues generated by the applicable mill levy, as adjusted for changes occurring on
or after January 1, 2023, are neither diminished nor enhanced as a result of such changes. For
purposes of the foregoing, a change in the ratio of actual valuation shall be deemed to be a change
in the method of calculating assessed valuation.
Operation and Maintenance Costs: means (1) planning and design costs of Public Improvements
identified by the Districts as being payable from its operation and maintenance mill levy; (2) the
costs of repair, replacement, and depreciation of the Public Improvements; (3) the costs of any
covenant enforcement and design review services, or other services, programs, and facilities the
Districts may provide; and (4) the costs of ongoing administrative, accounting, and legal services
to the Districts.
Project: means the development or property commonly referred to as Vistas at Saddleback.
Public Improvements: means a part or all of the improvements authorized to be planned, designed,
acquired, constructed, installed, relocated, redeveloped, and financed by the Districts as generally
described in the Special District Act and in accordance with the Approved Development Plan,
except as specifically limited in Section V below, which improvements benefit the property within
the Project and/or the District Boundaries, and which improvements will serve the future taxpayers
and inhabitants of the property within the Project and/or the District Boundaries, as determined by
the Boards of the Districts.
Regional Improvements: means those Public Improvements required by an Approved
Development Plan for the Project that: (a) lie outside the District Boundaries, and (b) have a
regional benefit beyond the Project to properties not included within the Districts, as more
specifically contemplated in, but not limited by, Exhibit D-1 of this Service Plan.
Service Plan: means this Consolidated Service Plan for the Districts, approved by the Town Board.
rd
Service Plan. Amendment: means an amendment to the Service Plan approved by the Town Board
in accordance with the Town's ordinance and the applicable state law.
Special Assessment: means the levy of an assessment within the boundaries of a special
improvement district pursuant to Section V.A.21 below.
Special District Act: means Title 32, Article 1 of the Colorado Revised Statutes, as amended from
time to time.
State: means the State of Colorado.
Taxable Property: means real or personal property which is subject to ad valorem taxes imposed
by the Districts.
Town: means the Town of Firestone, Colorado.
Town Board: means the Town Board of Trustees of the Town of Firestone, Colorado.
Town Code: means the Town Code of the Town of Firestone, Colorado.
Total Debt Limit: means twenty-three million ($23,000,000) which Total Debt Limit includes all
Debt issued by the Districts for Public Improvements.
Town O&M Mill Levy: means three (3) mills, to be imposed and collected by the Districts in
accordance with Section VI.I. below for purposes of defraying the Town's ongoing operation and
maintenance expenses associated with Public Improvements within or without the boundaries of
the Districts and which directly benefit the taxpayers, property owners, and residents of the
Districts.
III. BOUNDARIES
A Vicinity Map depicting the Project is attached hereto as Exhibit A. The area of the Initial
Boundaries includes approximately 34.5 acres, and the legal description and map of the Initial
Boundaries are set forth in Exhibit B. It is anticipated that the Districts' boundaries may change
from time to time as they undergo inclusions and exclusions pursuant to Section 32-1-401, C.R.S.,
and Section 32-1-501, C.R.S., subject to the limitations set forth in Section V.A.12-13 below.
IV. PROPOSED LAND USE, PROJECTED POPULATION PROJECTIONS,
AND CURRENT ASSESSED VALUATION
The property within the District Boundaries consists of approximately 34.5 acres of residential
property. The population of the District Boundaries at build -out is estimated to be approximately
450 people. The current assessed valuation of the property within the District Boundaries is
currently assumed to be zero dollars ($0.00) for purposes of this Service Plan, and the assessed
value of the property within the District Boundaries at build -out is expected to be sufficient to
reasonably discharge the Debt under the Financial Plan attached hereto as Exhibit C.
Approval of this Service Plan by the Town does not imply approval of the development of a
specific area within the District Boundaries, nor does it imply approval of the number of residential
units or the total site/floor area of commercial or industrial buildings identified in this Service Plan
or any of the exhibits attached thereto, which approvals shall be as set forth in an Approved
Development Plan.
Approval of this Service Plan by the Town in no way releases or relieves the developer of the
Project, or the developer, landowner, or subdivider of any property within the District Boundaries,
or any of their respective successors or assigns, of obligations to construct public improvements
for the Project or of obligations to provide to the Town such financial guarantees as may be
required by the Town to ensure the completion of the Public Improvements, or of any other
obligations to the Town under the applicable Approved Development Plan, the Town Code or any
applicable annexation agreement, subdivision agreement, or other agreements affecting the Project
property or development thereof.
V. DESCRIPTION OF PROPOSED POWERS, IMPROVEMENTS, AND
SERVICES
A. Powers of the Districts and Service Plan Amendment.
The Districts have the power and authority to provide the Public Improvements and related
operation and maintenance services as such power and authority are described in the Special
District Act and other applicable statutes, common law, and the Constitution, subject to the
limitations set forth herein, in the Approved Development Plan, and in the Intergovernmental
Agreement.
1. Operation and Maintenance Limitation. The purpose of the
Districts is to plan for, design, acquire, construct, install, relocate, redevelop, and finance the
Public Improvements. The Districts shall dedicate the Public Improvements to the Town or other
appropriate jurisdiction in a manner consistent with the Approved Development Plan, the
Intergovernmental Agreement, and other rules and regulations of the Town and applicable
provisions of the Town Code. The Districts are authorized, but not obligated, to own, operate, and
maintain Public Improvements not otherwise required to be dedicated to the Town or other public
entity, including but not limited to street improvements (including roads, curbs, gutters, culverts,
sidewalks, bridges, parking facilities, paving, lighting, grading, landscaping, and other street
improvements), traffic and safety controls, retaining walls, park and recreation improvements and
facilities, trails, open space, landscaping, drainage improvements (including detention and
retention ponds, trickle channels, and other drainage facilities), irrigation system improvements
(including wells, pumps, storage facilities, and distribution facilities), and all necessary equipment
and appurtenances incident thereto. Notwithstanding the foregoing, all parks, trails, and open
space not otherwise dedicated to the Town and owned by the Districts shall be open to the general
public free of charge. The Districts may provide covenant enforcement, design review services,
and other services to the residents, owners, and taxpayers within the Districts, pursuant to and in
accordance with § 32-1-1004(8) C.R.S. The Districts may impose a mill levy, Special
M
Assessments, and/or Fees to pay for Operation and Maintenance Costs in accordance with this
Service Plan and the Intergovernmental Agreement.
2. Fire Protection Limitation. The Districts shall not be authorized
to plan for, design, acquire, construct, install, relocate, redevelop, finance, operate or maintain fire
protection facilities or services, unless such facilities and services are provided pursuant to an.
intergovernmental agreement with the Town and the Frederick -Firestone Fire Protection District.
This provision shall not limit the Districts' authority to plan for, design, acquire, construct, install,
relocate, redevelop, or finance fire hydrants and related improvements installed as part of the water
system.
3. Television Relay and Translation Limitation, Mosquito Control,
and Other Limitations. Unless such facilities and services are provided pursuant to the
Intergovernmental Agreement, the Districts shall not be authorized to plan for, design, acquire,
construct, install, relocate, redevelop, finance, operate, maintain, or provide: (a) any television
relay and translation facilities and services, other than for the installation of conduit as a part of a
street construction project; (b) any mosquito control facilities and services; and (c) any solid waste
disposal, collection, and transportation facilities and services.
4. Limitation on Extraterritorial Service. The Districts shall be
authorized to provide services or facilities outside the Initial Boundaries or to establish fees, rates,
tolls, penalties, or charges for any services or facilities, only in accordance with an Approved
Development Plan, the Intergovernmental Agreement, or other agreement to which the Town is a
party or otherwise gives its written consent, as evidenced by resolution of the Town Board of
Trustees.
5. Telecommunication Facilities. The Districts agree that no
telecommunication facilities shall be constructed except pursuant to the Intergovernmental
Agreement and that no such facilities owned, operated, or otherwise allowed by the Districts shall
affect the ability of the Town to expand its public safety telecommunication facilities or impair
existing telecommunication facilities.
6. Construction Standards Limitation. The Districts will ensure that
the Public Improvements constructed by the Districts are designed and constructed in accordance
with the standards and specifications of the Town and of other governmental entities having proper
jurisdiction. The Districts will obtain the approval of civil engineering plans from the appropriate
jurisdiction and will obtain applicable permits for construction and installation of Public
Improvements prior to performing such work.
7. Zoning and Land Use Requirements. The Districts shall be subject
to all of the Town's zoning, subdivision, building code, and other land use requirements.
8. Growth Limitations. The Town shall not be limited in
implementing Board- or voter -approved growth limitations, even though such actions may reduce
or delay development within the Districts and the realization of District revenue.
7
9. Convey. The Districts agree to convey to the Town, upon
written notification from the Town and at no cost to the Town, any interest in real property owned
by the Districts that is necessary, in the Town's sole discretion, for any Town capital improvement
projects for transportation, utilities, or drainage, so long as such conveyance does not interfere
with the Districts' ability to construct, operate, and/or maintain Public Infrastructure, as the same
may be limited by this Service Plan.
10. Eminent Domain. The Districts shall not be authorized to exercise,
nor shall they use the power of eminent domain, except as otherwise provided pursuant to an
intergovernmental agreement with the Town.
11. Water Rights/Resources Limitation. The Districts shall not
acquire, own, manage, adjudicate, or develop potable water rights or resources except for the sole
purpose of transferring such water rights to the Town or to another governmental entity at the
direction of the Town. The Districts may be permitted to construct, finance, operate, and maintain
a non -potable water system for the development and may be permitted to own, manage, adjudicate,
and develop the non -potable water rights which will be used in such non -potable system, only if
required or authorized by an intergovernmental agreement with the Town, separate and distinct
from the Intergovernmental Agreement. Provided however that nothing herein shall prohibit the
Districts from reimbursing the developer of the Project for the costs of raw water.
12. Inclusion Limitation. From time to time, it may be necessary for
the Districts to adjust their respective boundaries, and each District may process inclusions of
property without providing notice to the Town as long as such property being included is within
the Initial Boundaries. Without prior written notice to the Town, the Districts shall not include
into their boundaries any property outside of the Initial Boundaries. No property will be included
within the Districts at any time unless such property has been annexed into the Town's corporate
limits.
13. Exclusion Limitation. From time to time, it may be necessary for
the Districts to adjust their respective boundaries, and each District may process exclusions of
property without providing notice to the Town as long as such property being excluded is within
the Initial Boundaries. Any exclusion of property located outside of the Initial Boundaries shall
require prior written notice to the Town. The Districts shall not exclude from their boundaries
property upon which a Debt mill levy has been imposed for the purpose of the inclusion of such
property into another district that has been or will be formed under the Special District Act, without
the prior written consent of the Town, as evidenced by resolution of the Town Board of Trustees.
14. Overlap Limitation. The boundaries of a District shall not overlap
with any other district or District if such overlap will cause the District's mill levy to exceed the
Maximum Debt Mill Levy or the Maximum Operation and Maintenance Mill Levy.
15. Total Debt Issuance Limitation. The Districts shall not issue Debt
in excess of the Total Debt Limit. The Total Debt Limit shall not be applicable to refunding or
refinancing of Debt authorized to be issued pursuant to the Service Plan unless the principal
amount of the refunding bonds exceeds the principal amount originally issued, in which case the
difference shall count against the Total Debt Limit. At no time during their existence shall the
Districts have Debt outstanding in excess of the Total. Debt Limit.
16. Sales and Use Tax. The Districts shall not exercise their Town
sales and use tax exemption.
17. Monies from Other Governmental Sources. The Districts shall not
apply for or accept Conservation Trust Funds, Great Outdoors Colorado Funds, or other funds
available from or through governmental or non-profit entities that the Town is eligible to apply
for, except pursuant to the Intergovernmental. Agreement. This Section shall not apply to specific
ownership taxes, which shall be distributed to and be a revenue source for the Districts without
any limitation.
18. Consolidation Limitation. The Districts shall not file a request
with any Court to consolidate with another Title 32 district without the prior written consent of the
Town, as evidenced by resolution of the Town Board of Trustees.
19. Subdistrict Limitation. The Districts shall not create any
subdistrict pursuant to Section 32-1-1101, C.R.S. without the prior written consent of the Town,
as evidenced by resolution of the Town Board of Trustees.
20. Fees. If authorized by the Intergovernmental Agreement, the
Districts may impose and collect Fees for services, programs, or facilities furnished by the
Districts, and may from time to time increase or decrease such fees, and may use the revenue from
such fees for the repayment of Debt, capital costs, or Operation and Maintenance Costs and for the
payment of any indebtedness of the Districts.
21. Special Assessments. If authorized in the Intergovernmental
Agreement, the Districts may establish one or more special improvement districts within their
District Boundaries and may levy a Special Assessment with the special improvement district in
order to finance all or part of the costs of any Public Improvements to be constructed or installed
that the Districts are authorized to finance.
22. Revenue Bonds Limitation. The Districts shall not issue revenue
bonds, except as set forth in this Section. At least sixty-three (63) days prior to issuing any revenue
bonds, the issuing District must provide notice of its intent to issue revenue bonds to the Town
Manager. At least thirty-five (35) days prior to issuing any revenue bonds, the issuing District must
submit all relevant details of such issuance to the Town Manager, including the proposed
documents pursuant to which such revenue bonds will be issued. On or before the date of issuance
of any revenue bonds, the issuing District must provide the Town with a copy of the general
counsel opinion addressed to the District which states that the District is not required by law to
amend the Service Plan to effectuate the issuance of the revenue bonds.
I
23. Public Improvement Fee and Sales Tax Limitation. The Districts
shall not impose, collect, receive, spend, or pledge to any Debt any fee, assessment, tax, or charge
which is collected by a retailer in the Districts on the sale of goods or services by such retailer and
which is measured by the sales price of such goods or services, except as provided pursuant to an
agreement with the Town, approved by the Town Board.
24. Bankruptcy Limitation. All of the limitations contained in this
Service Plan, including, but not limited to, those pertaining to the Maximum Debt Mill. Levy, the
Maximum Operation and Maintenance Mill Levy, and Fees have been established under the
authority of the Town to approve a Service Plan pursuant to Section 32-1-204.5, C.R.S. It is
expressly intended that such limitations:
a. Shall not be subject to set -aside for any reason or by any
court of competent jurisdiction, absent a Service Plan Amendment; and
b. Are, together with all other requirements of Colorado law,
included in the "political or governmental powers" reserved to the State under the U.S. Bankruptcy
Code (11 U.S.C.) Section 903, and are also included in the "regulatory or electoral approval
necessary under applicable bankruptcy law" as required for confirmation of a Chapter 9
Bankruptcy Plan under Bankruptcy Code Section 943(b)(6).
The filing of any bankruptcy petition by any District shall constitute, simultaneously with such
filing, a material departure of the express terms of this Service Plan, thus necessitating a material
modification that must be submitted to the Town for its consideration as a Service Plan
Amendment.
25. Reimbursement Agreement. If the Districts utilize reimbursement
agreements to obtain reimbursements from third -party developers or adjacent landowners for costs
of improvements that benefit third -party landowners, such agreements shall be done in accordance
with the Town Code. If a reimbursement agreement exists or is entered into for an improvement
financed by the Districts, any and all resulting reimbursements received for such improvement
shall be deposited in the Districts' debt service fund and used for the purpose of retiring the
Districts' debt.
26. Service Plan Amendment Requirement. This Service Plan has
been designed with sufficient flexibility to enable the Districts to provide required services and
facilities under evolving circumstances, without the need for numerous amendments. Actions of
any District, which violate the limitations set forth in V.A. above or in VII.0 or VII.D, shall be
deemed to be material modifications to this Service Plan and the Town shall be entitled to all
remedies available under State and local law to enjoin such actions of the offending District.
B. Preliminary Engineering Survey.
The Districts have the authority to provide for the planning, design, acquisition, construction,
installation, relocation, redevelopment, maintenance, and financing of the Public Improvements.
10
A Capital Plan, including a list of the Public Improvements developed by the Districts and the cost
of the Public Improvements is attached hereto as Exhibit D. The Districts shall be authorized to
construct Public Improvements that shall be more specifically defined in each applicable Approved
Development Plan, the Intergovernmental Agreement, or other agreement to which the Town is a
party or otherwise gives its written consent, as evidenced by resolution of the Town. Board of
Trustees. The estimated costs of the Public Improvements which may be planned for, designed,
acquired, constructed, installed, relocated, redeveloped, maintained, or financed was prepared
based upon a preliminary engineering survey and estimates derived from the zoning on the
property within the Districts and is approximately seventeen million, six hundred forty-nine
thousand, six hundred eighty-nine dollars ($17,649,689).
All of the Public Improvements constructed by the Districts will be designed in such a way
as to ensure that the Public Improvements standards will be compatible with those of the Town
and shall be in accordance with the requirements of the Approved Development Plan. All
construction cost estimates are based on the assumption that construction conforms to applicable
local, State, or Federal requirements.
C. Multiple District Structure.
It is anticipated that the Districts, collectively, will undertake the planning, design,
acquisition, construction, installation, and financing of the Public Improvements and Regional
Improvements contemplated herein. Specifically, the Districts may enter into one or more
intergovernmental agreements governing the relationship between and among the Districts with
respect to the planning, design, acquisition, construction, installation, and financing of the Public
Improvements and Regional Improvements contemplated herein and with respect to the
administration, operation, and maintenance of the Districts. Such intergovernmental agreements
between and among the Districts, and all amendments thereto, shall be designed to help ensure the
orderly development of the Public Improvements and Regional Improvements and essential
services in accordance with the requirements of this Service Plan. To the extent the Districts enter
into an intergovernmental agreement that constitutes a Debt, such intergovernmental agreement
shall have a term of no longer than forty (40) years from its effective date. Upon the expiration of
its term, any intergovernmental agreement constituting Debt shall be of no further effect and the
associated Debt shall be fully discharged and no longer an obligation of the Districts.
VI. FINANCIAL PROVISIONS
A. General.
The Districts are authorized to provide for the planning, design, acquisition, construction,
installation, relocation, and/or redevelopment of the Public Improvements from their revenues and
by and through the proceeds of Debt to be issued by the Districts. The Districts may impose a mill
levy on taxable property within their boundaries as a primary source of revenue for repayment of
Debt and for Operation and Maintenance Costs. The Districts may also rely upon various other
revenue sources authorized by law. At the Districts' discretion, these may include the power to
assess Fees as provided in Section 32-1-1001(l), C.R.S., as amended from time to time and as
11
limited by Section V.A.20 above, and the Districts may impose Special Assessments as provided
in Section 32-1-1101.7, C.R.S. and in accordance with Section V.A.21, above.
The Financial Plan for the Districts, which is attached hereto as Exhibit C, reflects that the
Districts will issue no more Debt than the Districts can reasonably expect to pay from revenues
derived from the Maximum Debt Mill Levy, Fees, Special Assessments, and other legally available
revenues. The Districts may issue such Debt on a schedule and in such year or years as the Districts
determine shall meet the needs of the Financial Plan referenced above and phased to serve
development as it occurs.
B. Maximum Voted Interest Rate and Maximum Underwriting Discount.
The interest rate on any Debt is expected to be the market rate at the time the Debt is issued.
In the event of a default, the proposed maximum interest rate on any Debt is not expected to exceed
eighteen percent (18%). The proposed maximum underwriting discount will be four percent (4%).
Debt, when issued, will comply with all relevant requirements of this Service Plan, State law and
Federal law as then applicable to the issuance of public securities.
C. Mill Levies.
1. The Maximum Debt Mill Levy, which shall be subject to a Mill
Levy Adjustment, is the maximum mill levy the Districts are permitted to impose upon the taxable
property within the Districts for payment of Debt. The Maximum Debt Mill Levy for each District
shall be fifty-five (55) mills, subject to a Mill Levy Adjustment, for so long as the total amount of
aggregate Debt of a District imposing its Maximum Debt Mill Levy, combined with the Debt of
any District that is pledging its Maximum Debt Mill Levy to the same debt service obligations,
exceeds fifty percent (50%) of the combined assessed valuation of the particular Districts. It is
anticipated that the Districts will undertake the planning, design, acquisition, construction,
installation, development, and financing of certain Regional Improvements as described in Exhibit
D-1 and required by an Approved Development Plan for the Project, and any additional regional
improvements the Districts agree to address. It is expected that prior to financing and construction
of the Regional Improvements, the Town and the developer of the Project will enter into an
agreement whereby the parties agree to share the costs of the Regional Improvements. However,
if such agreement is not reached, the Maximum Debt Mill Levy the Districts are permitted to
impose for the payment of Debt may be increased to fifty-five (55) mills, subject to a Mill Levy
Adjustment.
At such time as the total amount of aggregate Debt of the Districts is equal to or less than
fifty percent (50%) of the Districts' assessed valuation, either on the date of issuance of any Debt
or at any time thereafter, the mill levy to be imposed to repay such portion of Debt shall not be
subject to the Maximum Debt Mill Levy and, as a result, the mill levy may be imposed at such a
rate as is necessary to pay the Debt service on such Debt, without limitation of rate increase;
provided, however, that after any conversion to an unlimited mill levy, the Districts shall not issue
additional Debt that would cause the aggregate Debt to exceed 50% of the Districts' then -assessed
value. For the purposes of the foregoing, the Boards may further provide that such Debt shall
12
remain secured by such increased mill levy, notwithstanding any subsequent change in the
Districts' Debt to assessed value ratio.
2. The Maximum Operation and Maintenance Mill Levy, which shall.
be subject to a Mill Levy Adjustment, shall be the maximum mill levy the Districts are permitted
to impose upon the taxable property within the Districts for payment of Operation and
Maintenance Costs, and shall be 55.000 mills until such time that the Districts issue Debt. After
the Districts issue Debt, the .Maximum Operation and Maintenance Mill Levy shall be 1.0.000
mills, subject to the Mill Levy Adjustment. The Maximum Operation and Maintenance Mill Levy
shall apply to the Districts' ability to increase their mill levy, as necessary for provision of
operation and maintenance services to their taxpayers and service users until such time as End
Users cast the majority of affirmative votes taken by the Districts' Boards of Directors at a meeting
authorizing an increase of such Maximum Operation and Maintenance Mill Levy, at which time
the mill levy may be such amount as is necessary to pay the Operation and Maintenance Cost. For
avoidance of doubt, the imposition of the 10-mill operation and maintenance mill levy shall be in
addition to the Maximum Debt Mill Levy and the Town's operation and maintenance mill levy.
D. Debt Parameters.
1. All Debt issued by the Districts must be issued in compliance with
the requirements of Section 32-1-1101, C.R.S. and all other requirements of State law. On or
before the effective date of approval of an Approved Development Plan by the Town, the Districts
shall not: (a) issue any Debt; (b) impose a mill levy for the payment of Debt by direct imposition
or by transfer of funds from the operating fund to the Debt service funds; (c) impose and collect
any Fees used for the purpose of repayment of Debt; or (d) levy any Special Assessments.
2. At least sixty-three (63) days prior to issuing any Debt, the issuing
District must provide notice of its intent to issue Debt to the Town Manager. At least thirty-five
(35) days prior to issuing any Debt, the issuing District must submit all relevant details of such
issuance to the Town Manager, including the proposed documents pursuant to which such Debt
will be issued. On or before the date of issuance of any Debt, the issuing District must provide the
Town with a copy of the general counsel opinion addressed to the District which states that the
District is not required by law to amend the Service Plan to effectuate the issuance of the Debt.
3. The Districts shall not pledge any revenue or property of the Town
as security for the indebtedness set forth in this Service Plan. Approval of this Service Plan shall
not be construed as a guarantee by the Town of payment of any of the Districts' obligations, nor
shall anything in the Service Plan be construed so as to create any responsibility or liability on the
part of the Town in the event of default by the Districts in the payment of any such obligation.
4. The Districts shall not issue Debt in excess of the Total Debt
Limit, which Total Debt Limit includes any Debt issued for Public Improvements; provided that
the foregoing shall not include the principal amount of Debt which has been refinanced or refunded
unless the principal amount of the refunding bonds exceeds the principal amount of the bonds to
be refunded, in which case the difference shall count against the Total Debt Limit.
13
5. Any Debt issued by the Districts with a pledge or which results in
a pledge that exceeds the Maximum Debt Mill Levy (subject to the Mill Levy Adjustment) shall
be deemed a material modification of this Service Plan pursuant to Section 32-1-207, C.R.S. and
shall not be an authorized issuance of Debt unless and until such material modification has been
approved by the Town as part of a Service Plan Amendment. The Town shall be entitled to all.
remedies available at law to enjoin such actions of the Districts, including the remedy of enjoining
the issuance of additional authorized but unissued debt, until such material modification is
remedied.
6. The Maximum Debt Mill Levy Imposition. Term shall not exceed
forty (40) years from the date upon which the Districts first issue any Debt. Upon expiration of
the Maximum Debt Mill Levy Imposition Term, the Districts shall not impose a levy for repayment
of any and all Debt (or use the proceeds of any mill levy for repayment of Debt) on any single
property within the District Boundaries, unless a majority of the Boards of Directors of the Districts
are End Users and have voted in favor of a refunding of a part or all of the Debt and such refunding
will result in a net present value savings as set forth in Section 11-56-101, C.R.S.; et sec. Any
Debt, issued with a mill levy pledge or which results in a mill levy pledge, that exceeds the
Maximum Debt Mill Levy Imposition term shall be deemed a material modification of this Service
Plan and shall not be an authorized issuance of Debt unless and until such material modification
has been approved by the Town by a service plan amendment.
E. Debt Instrument Disclosure Requirement.
In the text of each Bond and any other instrument representing and constituting Debt, the Districts
shall set forth a statement in substantially the following form:
By acceptance of this instrument, the owner of this Bond agrees and consents to all
of the limitations in respect of the payment of the principal of and interest on this
Bond contained herein, in the resolution of the Districts authorizing the issuance of
this Bond and in the Service Plan for creation of the Districts.
Similar language describing the limitations in respect of the payment of the principal of and interest
on Debt set forth in this Service Plan shall be included in any document used for the offering of
the Debt for sale to persons, including, but not limited to, a developer of property within the
boundaries of the Districts.
F. Privately Placed Debt Limitation.
Prior to the issuance of any privately placed Debt, the Districts shall obtain the certification of an
External Financial Advisor substantially as follows:
We are [I am] an External Financial Advisor within the meaning of the Districts'
Service Plan.
14
We [1] certify that (1) the net effective interest rate (calculated as defined in Section
32-1-103(12), C.R.S.) to be borne by [insert the designation of the Debt] does not
exceed a reasonable current [tax- exempt] [taxable] interest rate, using criteria
deemed appropriate by us [me] and based upon our [my] analysis of comparable
high yield securities; and (2) the structure of [insert designation of the Debt],
including maturities and early redemption provisions, is reasonable considering the
financial circumstances of the Districts.
For purposes of this Section, "privately placed debt" includes any Debt that is sold to a private
entity, including financial institutions, developers, or other private entities, and which no offering
document related to such sale is required. "Privately placed debt" does not include the sale of Debt
to an underwriter who purchases Debt from the Districts with a view to the distribution to investors
of Debt.
In no event shall Debt that is privately placed with a developer or owner of the property to be
benefitted with Public Improvements bear interest at a rate that accrues at a compounding rate.
Each instrument evidencing Debt or an annually appropriated obligation that is privately placed
with a developer or owner of the property to be benefitted with Public Improvements shall provide
that the Districts' obligations thereunder shall be discharged forty (40) years after the date that
such obligation is issued regardless of whether such obligation is paid in full.
G. TABOR Compliance.
The Districts will comply with the provisions of TABOR. In the discretion of the Boards,
the Districts may set up other qualifying entities to manage, fund, construct, and operate facilities,
services, and programs. To the extent allowed by law, any entity created by the Districts will
remain under the control of the Districts' Boards, and any such entity shall be subject to and bound
by all terms, conditions, and limitations of the Service Plan and the Intergovernmental Agreement.
H. Districts' Organizational Costs and Operation and Maintenance Costs.
The Districts' Organizational Costs, including the estimated engineering services, legal
services, and administrative services, together with the estimated costs of the Districts'
organization and initial operations, are eligible for reimbursement from Debt proceeds.
In addition to the capital costs of the Public Improvements, the Districts will require
operating funds for Operation and Maintenance Costs, including administration, and to plan and
cause the Public Improvements to be constructed and maintained, and for ongoing administrative,
accounting, and legal costs.
I. Town O&M Mill Lew.
Commensurate with the initial imposition of a debt service mill levy, the Districts hereby
agree that they shall impose the Town O&M Mill Levy. The Districts' obligation to impose and
collect the revenues from the Town O&M Mill Levy shall begin when the Districts first impose a
15
debt service mill levy and shall not be required to be imposed prior to such date. The Districts'
imposition of a Town O&M Mill Levy shall be memorialized in the Intergovernmental Agreement
required by Section X below. The revenues received from the Town O&M Mill. Levy shall be
remitted to the Town annually or in accordance with the specific timeframe referenced in the
Intergovernmental Agreement. Revenues generated by the Town O&M Mill Levy and the
Districts' obligation to remit said revenues to the Town on an annual basis, as required by this
Service Plan and the Intergovernmental Agreement, shall not be included within or subject to the
Total Debt Limit. The Town O&M Mill Levy shall be separate and apart from the Maximum Debt
Mill Levy and the Maximum Operation and Maintenance Mill Levy.
VII. ANNUAL REPORT
A. General.
The Districts shall be responsible for submitting an annual report to the Town Clerk no
later than April 30th of each year.
B. Reporting of Significant Events.
The annual report shall include information as to any of the following, pursuant to Sections
32-1-207(3)(c) and (d), C.R.S., as may be amended from time to time:
1. Boundary changes made or proposed to the Districts' boundaries
as of December 31 st of the prior year.
2. Intergovernmental agreements entered into or terminated with
other governmental entities.
3. Copies of the Districts' rules and regulations, if any, as of
December 31 st of the prior year.
4. A summary of any litigation which involves the Public
Improvements as of December 31 st of the prior year.
5. Status of the Districts' construction of the Public Improvements as
of December 31 st of the prior year.
6. A list of all facilities and improvements constructed by the
Districts that have been dedicated to and accepted by the Town or other service provider providing
service to the property in the Districts, as of December 31St of the prior year.
of the prior year.
7. The final assessed valuation of the Districts as of December 31 st
8. A copy of the current year's budget.
16
9. A copy of the audited financial statements, if required by the
"Colorado Local Government Audit Law," Part 6 of Article 1 of Title 29, or the application for
exemption from audit, as applicable. Such audit shall be provided prior to October 31 st of each
calendar year.
10. Notice of any uncured events of default by the Districts, which
continue beyond a ninety (90) day period, under any Debt instrument.
11. Any inability of the Districts to pay their obligations as they come
due, in accordance with the terms of such obligations, which continue beyond a ninety (90) day
period.
VIII. DISSOLUTION
Upon an independent determination of the Town Board that the purposes for which the
Districts were created have been accomplished, the Districts shall dissolve upon payment or
defeasance of all Debt incurred or upon a court determination that adequate provision has been
made for the payment of all Debt, except that if the Districts have ongoing operation and
maintenance functions, the Districts shall not be required to dissolve. Such determination may be
made with respect to any one or more individual Districts or the Districts as a whole, at the
discretion of the Town Board. Additionally, if a Board of Directors of any of the Districts
determines that the existence of that District is no longer necessary to accomplish the purposes set
forth in this Service Plan, the Board of Directors of that District shall promptly effectuate the
dissolution of that District.
INVENIMTOJIGM NMI
A. In order to notify future End Users who are purchasing residential lots or
dwellings units in the District Boundaries that they will be paying, in addition to the property taxes
owed to other taxing governmental entities, property taxes imposed by the Districts to pay Debt
and Operation and Maintenance Costs, the Districts shall, prior to the issuance of Debt:
1. Prepare and submit to the Town Manager for his or her approval a written
notice to purchasers of property within the Districts, in substantially the form
attached hereto as Exhibit E (the "Disclosure Notice"). After approval of the
Disclosure Notice by the Town Manager, the Districts shall record the Disclosure
Notice in the Weld County Clerk and Recorder's Office against all property not
already owned by an End User; and
2. Use reasonable efforts to assure that all builders of residential lots
or dwelling units within the Districts provide the Disclosure Notice to each
potential End User purchaser of a residential lot or dwelling unit in the District
Boundaries before that purchaser enters into a written agreement for the purchase
and sale of that residential lot or dwelling unit.
17
B. To ensure that potential residential buyers are educated about the Districts,
the Districts will also use reasonable efforts and due diligence to provide the Disclosure Notice to
the developer or home builders for prominent display at all sales offices, and by inspecting the
sales offices within the Districts' boundaries on a quarterly basis to assure the information
provided is accurate and prominently displayed.
C. Within six (6) months of the date of approval of this Service Plan, the
Districts will create a public website on which the Districts will timely post information related to
upcoming meetings and elections, and will make available relevant District documents and
information, including, but not limited to, the Service Plan, Board meeting minutes, annual
budgets, audits, and annual reports.
D. The Districts will provide annual notice to all eligible electors of the
Districts, in accordance with Section 32-1-809, C.R.S. In addition, the Districts shall record a
District public disclosure document and a map of the District Boundaries with the Clerk and
Recorder of each County in which District property is located, in accordance with Section 32-1-
104.8, C.R.S.
X. INTERGOVERNMENTAL AGREEMENT
The form of the Intergovernmental Agreement required by the Town Code, relating to the
limitations imposed on the Districts' activities, is attached hereto as Exhibit F. The Districts shall
approve the Intergovernmental Agreement at their first Board meeting after approval of this
Service Plan and shall deliver the executed Intergovernmental Agreement to the Town. The
Intergovernmental Agreement may be amended from time to time by the Districts and the Town
and may include written consents and agreements of the Town as required throughout this Service
Plan (e.g., amendments to address the Districts' imposition of Fees for services, programs or
facilities furnished by the Districts pursuant to Section V.A.20 ("Fee Amendments")).
Alternatively, such written consents of the Town may be obtained by the Districts without
amending the Intergovernmental Agreement, and the Town and the Districts may execute
additional written agreements concerning matters set forth in this Service Plan. In the event that
the Districts propose any Fee Amendment to the Town, the Town Board shall make its
determination as to such Fee Amendment in writing to the Districts within sixty (60) days after
submittal of the Fee Amendment by the Districts, unless the Town and Districts mutually agree to
a different date.
The Districts are located within the Firestone South Urban Renewal Plan Area and
anticipate entering into a Cooperation Agreement with the Firestone Urban Renewal Authority
following their organization (the "FURA Agreement").
No intergovernmental agreements other than the Intergovernmental Agreement, the FURA
Agreement, and, if necessary, the Districts' intergovernmental agreements are anticipated. Except
for such Intergovernmental Agreement with the Town, any intergovernmental agreement proposed
regarding the subject matter of this Service Plan shall be subject to review and approval by the
Town prior to its execution by the Districts. Such Town review and approval shall be with
IN
reference to whether the intergovernmental agreement(s) are in compliance with this Service Plan,
the Intergovernmental Agreement, and the terms of the Approved Development Plan or other
instrument related to the Public Improvements.
XI. NON-COMPLIANCE WITH SERVICE PLAN
In the event it is determined that the Districts have undertaken any act or omission which
violates the Service Plan or constitutes a material departure from the Service Plan, the Town may
pursue for such violation all remedies available at law or in equity, including without limitation
affirmative injunctive relief to require the Districts to act in accordance with the provisions of this
Service Plan. To the extent permitted by law, the Districts hereby waive the provisions of Section
32-1-207(3)(b), C.R.S., and agree they will not rely on such provisions as a bar to the enforcement
by the Town of any provisions of this Service Plan.
XII. CONCLUSION
It is submitted that this Service Plan for the Districts, as required by Section 32-1-203(2),
C.R.S., establishes that:
1. There is sufficient existing and projected need for organized
service in the area to be serviced by the Districts;
2. The existing service in the area to be served by the Districts is
inadequate for present and projected needs;
3. The Districts are capable of providing economical and sufficient
service to the area within their proposed boundaries; and
4. The area to be included in the Districts has or will have the
financial ability to discharge the proposed indebtedness on a reasonable basis.
19
EXHIBIT A
Vicinity Map
GRAPHIC SCALE
(. IN FEET }:
1 inch = 2000 -ft.
U S:. SURVEY FEET'
711 IlMa
VISTAS AT t
VICINITY MAP
METRO DISTRICT
SADDLEBACK
GOLF COURSE
Io NOTE: (� SIE U�
THIS EXHIBIT DOES :NOT REPRESENT A MONUMENTED SURVEY. Ill tT®r-rprt7dG¢zram r 1�� � � �L' IJt�N Yr--
VISTAS AT SADDLEBACK
nhardT.
METRO DISTRICT VICINITY MAP
TOWN OF FIRESTONE, WEED COUNTY, COLt7RAD0
PRa. n�oR.: DJB SHEET
MKW
DRAWN BY..
CONSULTING ,
7600 East Orchard Road, Suite 150 N Greenwood: Village CO 80111 ph 303 708 0500 " man hard c,m � GE �.
n Civil Engineering I Surveying & Geospatial Services I GIS DATE: 0510512023
al Water Resourco Management I Construction Management scaLE, t"=2000' ADIFSCd41:4Q
EXHIBIT B
Initial Boundary Map and Legal Description
C 0 td S i t, $` E td
i
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zlowel I k ifili i 1 i
• -` i ` # • • # • i
STATE OF # •- `i# DESCRIBED AS • •
BASIS OF BEARINGS- THE SOUTH LINE OF THE SOUTHEAST QUARTER OF SAID
SECTION 19 BEARS SOUTH 89'30'5VEAST BETWEEN THE SOUTH QUARTER CORNE
• i # • # i 1 ` ' - ` i s 9
WWI
TAEABOTE PARCEL DESCRIPROII—MAb PH -`- is UNDER DIRECT • AND
` #38814
FOR AND ON BEHALF OF MANHARD CONSULTING
2023-07-12 P'.\Adifsco0l\dwg\Sure\Final Drawings\Exhikbits Surv\Metro District\AdifscoOl-MD1_desc.docx Sheet 1 of 2
Manhard Consulting - 7600 &mt Orchard Road, SwLe #f 0-N, Greenwood Milage, CO 80111 11 - 303. aCt8MOO - rnafmard c err
i.. +.. 1.'a I ..jury wf , ,.:.,£ ?
GRAPHIC SCALE
0 4P so
IN FEET
1 inch = 80 ft,
U.S, SURVEY FEET
' *Mw -Iw W k
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POINT OF COMMENCEMENT
EAST QUARTER CORNER
SECTION 19, T2N, R67W
FOUND 3.25" ALUMINUM CAP STAMPED
"PLS, 38042, EDWARD JAMES 2022"
4
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FOR AND ON BEHALF OF CD
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MANHARD CONSULTING
BASIS OF BEARINGS SOUTH LINE OF THE SOUTHEAST QUARTER OF
S89*30'51"E 21540�86' SECTION 19, TOWNSHIP 2 NORTH, RANGE 67 WEST —_jj
I/-
v
SOUTH QUARTER CORNER
SECTION 19, T2N, R67W SOUTHEAST CORNER OF SECTION 19, T2N, R67W
FOUND 3.25" BRASS CAP IN MONUMENT BOX FOUND 3.25" ALUMINUM CAP IN MONUMENT BOX
STAMPED "1952 BUREAU OF LAND MANAGEMENT" STAMPED "PLS 38042 EDWARD JAMES 2022"
NOTE
THIS.EXHIBIT DOES NOT REPRESENT A MONUMENTED SURVEY.
IT 15 INTENDED ONLY TO DEPICT THE ATTACHED LEGAL DESCRIPTION,
n r
ULTINC ,
,d Village, CO 80111 ph 303 708 0500 m,
PROJ. MDR.: DjB SHEET shard c'o'm DRAW"IM Sws OF
GIS DATE, 07/015/23 2 2
C 0 td S i t, $` E td
i
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PART OF THE SOUTHEAST QUARTER OF SECTION 19, TOWNSHIP 2 NORTH, RANGE 67
WEST OF THE SIXTH PRINCIPAL MERIDIAN, TOWN OF FIRESTONE, COUNTY OF WELD,
STATE OF COLORADO, DESCRIBED AS FOLLOWS:
BASIS OF BEARINGS: THE SOUTH LINE OF THE SOUTHEAST QUARTER OF SAID
SECTION 19 BEARS SOUTH 89°30'51" EAST BETWEEN THE SOUTH QUARTER CORNER
OF SAID SECTION 19 MONUMENTED WITH A 3 1/4" BRASS CAP IN MONUMENT BOX
STAMPED "1952 BUREAU OF LAND MANAGEMENT" AND THE SOUTHEAST CORNER OF
SAID SECTION 19 MONUMENTED WITH A 31/4" ALUMINUM CAP STAMPED "PLS 38042
EDWARC JAMES 2022"'WITH ALL OTHER BEARINGS RELATIVE THERETO.
COMMENCING AT THE SOUTHEAST CORNER OF SAID SECTION 19; THENCE NORTH
01°03'56" WEST, ALONG THE EAST LINE OF THE SOUTHEAST QUARTER OF SAID
SECTION 19, A -DISTANCE OF 879.79 FEET; THENCE DEPARTING SAID EAST LINE,
SOUTH 88055'42" WEST, A DISTANCE OF 40.00 FEET TO THE POINT OF BEGINNING;
THENCE SOUTH 43056'04" WEST, A`DISTANCE OF 21.21 FEET;
THENCE SOUTH 88°56'04" WEST A DISTANCE OF 380.49 FEET TO A POINT OF
CURVATURE;
THENCE ALONG THE ARC OF A TANGENT CURVE TO THE LEFT HAVING A CENTRAL
ANGLE OF 41 °07'54", A RADIUS OF 205.00 FEET, AN ARC LENGTH OF>147.17FEET, THE
CHORD OF WHICH BEARS SOUTH 68022'07" WEST, A DISTANCE OF 144.03 FEET;
THENCE SOUTH 47048'10" WEST, A DISTANCE OF 323.05 FEET;
THENCE NORTH 42011"50" WEST, A DISTANCE OF 32.78 FEET;
THENCE NORTH 01 °11'50" WEST, A DISTANCE OF 708.21 FEET;
THENCE SOUTH 88*48'10" WEST, A DISTANCE OF 179.90 FEET
THENCE NORTH 46'50'19" EAST, A DISTANCE OF 344.20 FEET;
THENCE NORTH 28053'19" EAST, A DISTANCE OF 148.30 FEET;
THENCE NORTH 06011" 19" EAST, A DISTANCE OF``123.20 FEET;
THENCE NORTH 88°56'04" EAST, A DISTANCE OF'631.74 FEET TO A POINT 40.00 FEET
WESTERLY OF SAID EAST LINE OF THE SOUTHEAST QUARTER OF SECTION 19;
THENCE SOUTH 01"03'56" EAST, PARALLEL WITH AND 40.00 FEET WESTERLY OF SAID
EAST LINE OF, A DISTANCE OF 935.84 FEET TO THE POINT OF BEGINNING.
2023-07 12 P:\Adifsco0l\dwg\Surv\Final Drawings\Exhibits Surv\Metro District\AdifscoOl-MD2 desc.docx Sheet l of 3
WrOiai,d t;r"€ salting - -7600 East Orc hw,d Road, Suii e 150-N, Greenwood Vilt age, CC B0111 * 303 708, 00 - maahard orn
t a�0 t d S i t, $` E
CONTAINING A CALCULATED AREA OF 781,412 SQUARE FEET OR 17.9388 ACRES,
MORE OR LESS.
I, JASON W. WNIECKI, A SURVEYOR LICENSED IN THE STATE OF COLORADO, DO'
HEREBY CERTIFY THAT THEABOVEPARCEL DESCRIPTION WAS PREPARED BY ME OR
UNDER MY DIRECT SUPERVISION AND CHECKING.
2023-07-12 P:\Adifsco0l\dwg\Sure\Final Drawings\Exhibits Surv\Metro District\AdifscoOl-MD2_descdocx Sheet 2 of 3
Manhatrd Consulting - 7600 Gust Orchard Road Suite 1550-N, Grectnwood'aPillagc, CC B0111 - 303,708,C7500 - manhard a,om
GRAPHIC SCALE
( IN FEET )
i inch = 250 ft.
U.S. SURVEY FEET
FOR AND ON BEHALF OF
MANHARD CONSULTING
EXHIBIT A
N88`56'04"E 631.74''
QUARTER CORNER
SECTION 19 T2N. R67W
FOUND 3,25" ALUMINUM CAP
MPED, "PLS 38042, EDWARD
DAMES 2022"
4C}'
I-»—w
wj
YOEAST
nC3
<MD
NO. 2
F
� t,412
S.F. (17.9388 AG.)
c0
0)
w
z c� '
cn
o'
Ct
UHLI
POINT OF
F
BEGINNING
00 n
S43'56'04"W
w
21.21'
z a
0-
D
Cn 1-
c
S88°56'0A "W
v
z
n 380.49'
U�
S88'55'42"W
ZRECEPTION
40,00'
'50"W _WARRANTYDEED
,32.78' NO. 4387530
CURVE TABLE
CURVE
DELTA
RADIUS
LENGTH
CHORD BEARING
CHORD
C1
41'07'54"
205.00'
147.17'
1 S68"22'07"W
144.03'
BASIS OF BEARINGS SOUTH LINE OF THE SOUTHEAST QUARTER OF
S89'30'51"E 2640,86' SECTION 19, TOWNSHIP 2'NORTH, :RANGE 67 WEST I
\ -SOUTH QUARTER CORNER'
POINT OF COMMENCEMENT)
R SECTION 19, T2N, R67W
SOUTHEAST CORNER
FOUND 3.25" BRASS CAP IN MONUMENT BOX
SECTION 19, T2N, R67W
STAMPED "1952 BUREAU OF LAND MANAGEMENT"
FOUND 3.25" ALUMINUM CAP IN
NNOTE—
THIS EXHIBIT DOES NOT REPRESENT A MONUMENTED SURVEY.
MONUMENT BOX. STAMPED
IT 15 INTENDED ONLY TO DEPICT THE ATTACHED LEGAL DESCRIPTION.
"PLS; 38042, EDWARD DAMES 2022"
z
a
� anhardTh
METROPOLOTAN DISTRICT NO.2
PT. OF THE SE 1J4 5EC. 19, T2N, R67W, 6TH P.M.
TOWN OF FIRESTONE, WELD COUNTY, COLORADO
CONSULTINCo
arsa. DJB
SHEET
760r0 East Orchard Road Suite 150 N, Greenwood Village, SO 80111 ph 303 76E^ 0500 ��^manhard com
DRnVM SY SWS
(771Q7}23
3 OFf
3
Civil Engineering I Surveying & Deospatial Services I GIS
DATE:
: Water Resource Management I Construction Management
scuE.. 1 — 250'
ADI:FSGOOi
C 0 td S i t, $` E td C
i
a r III III dr •
PART OF THE SOUTHEAST QUARTER OF SECTION 19, TOWNSHIP 2 NORTH, RANGE 67
WEST OF THE SIXTH PRINCIPAL MERIDIAN, TOWN OF FIRESTONE, COUNTY OF WELD,
STATE OF COLORADO, DESCRIBED AS FOLLOWS:
BASIS OF BEARINGS: THE SOUTH LINE OF THE SOUTHEAST QUARTER OF SAID
SECTION 19 BEARS SOUTH 89°30'51" EAST BETWEEN THE SOUTH QUARTER CORNER
OF SAID SECTION 19 MONUMENTED WITH A 3 1/4" BRASS CAP IN MONUMENT BOX
STAMPED "1952 BUREAU OF LAND MANAGEMENT" AND THE SOUTHEAST CORNER OF
SAID SECTION 19 MONUMENTED WITH A31/4" ALUMINUM CAP STAMPED"PLS 38042
EDWARD JAMES 2022"'WITH ALL OTHER BEARINGS RELATIVE THERETO.
COMMENCING AT THE EAST QUARTER CORNER OF SAID SECTION 19; THENCE SOUTH
88'56'04" WEST, A DISTANCE OF 40.00 FEET TO THE POINT OF BEGINNING;
THENCE SOUTH 01 003'56" EAST, PARALLEL WITH AND 40 FEET WESTERLY OF THE
EAST LINE OF SAID SOUTHEAST QUARTER, A DISTANCE OF 815.07 FEET;
THENCESOUTH88°56'04" WEST, A DISTANCE OF 631.74 FEET;
THENCE NORTH 38057'41" WEST, A DISTANCE OF'179.60 FEET;
THENCE NORTH 27*57'41" WEST, A DISTANCE OF 4890 FEET;
THENCE NORTH 62°02'19" EAST, A DISTANCE OF'5.00 FEET;'
THENCE NORTH 27057'41" WEST, A DISTANCE OF'319.50 FEET;
THENCE NORTH 49°02'19" EAST, A DISTANCE OF'635.50 FEET;
THENCE SOUTH 41 °07'41" EAST, A DISTANCE OF 30.00 FEET;
THENCE NORTH 49'02'19" EAST, A DISTANCE OF 518.08 FEET TO A POINT 40 FEET
WESTERLY OF THE EAST LINE OF THE NORTHEAST QUARTEROF SAID SECTION 19;
THENCE SOUTH 01 °03'02" EAST, PARALLEL WITH AND 40 FEET WESTERLY OF THE
EAST LINE OF SAID NORTHEAST QUARTER, A DISTANCE OF 374.41 FEET TO THE
POINT OF BEGINNING.
CONTAINING A CALCULATED AREA OF 694,876 SQUARE FEET OR 15.9521 ACRES,
MORE OR LESS.
2023-07 12 P'.\Adifsco0l\dwg\Surv\Final Drawings\Exhibits Surv\Metro District\Adifsco01-MD3_desc.docx Sheet l of 3
Wr iai,d CIu€ salting - -7600 East Orc hw,d Road. Suii e 150-Ni Greenwood Vilt age. CO 80111 * 303 708, 00 - manhard orn
t a�0 t d S i t, $` E
EXCEPT A PARCEL OF LAND DESCRIBED AS FOLLOWS:
COMMENCING AT THE EAST QUARTER CORNER OF SAID SECTION 19, MONUMENTED
WITH A 3114" ALUMINUM CAP STAMPED "PLS 38042 EDWARD JAMES 2022; THENCE
SOUTH 76°26'29" WEST, A DISTANCE OF 488.30 FEET TO THE POINT OF BEGINNING;
THENCE SOUTH 01 003'56° EAST, A DISTANCE OF 20.00 FEET;;
THENCE SOUTH 88o56'04" WEST, A'DISTANCE OF 75.00 FEET;
THENCE NORTH 01 °03'56" WEST, A DISTANCE OF 20.00 FEET;
THENCE NORTH 88056'04" EAST, A DISTANCE OF'75.00 FEET TO THE POINT OF
BEGINNING.
CONTAINING A CALCULATED AREA OF 1,500 SQUARE FEET OR 0.0344 ACRES, MORE
OR LESS.
REMAINING PARCEL CONTAINS A CALCULATED AREA OF 693,376 SQUARE FEET OR
159177 ACRES; MORE CAR LESS,
ALL LINEAL DISTANCES ARE REPRESENTED IN U.S. SURVEY FEET.
I, JASON W. WINIECKI, A SURVEYOR LICENSED IN THE STATE OF COLORADO, DO
HEREBY CERTIFY THAT THE ABOVE PARCEL DESCRIPTION WAS PREPARED BY ME OR
UNDER MY DIRECT SUPERVISION AND CHECKING;
JASON W. WINIECKI; P.L.S. 38814
FOR AND ON BEHALF OF MANHARD CONSULTING
2023-07-12 P:\Adifsco0l\dwg\Sure\Final Drawings\Exhibits Surv\Metro District\AdifscoOl-MD3_desc.docx Sheet 2 of 3
Manhard Consulting - 7600 Gust Orchard Road Suite 1550-N, Grectnwood'aPillagc, 00 80111 303,708,C1500 - manhard com
EXHIBIT A
POINT OF COMMENCEMENT -
MID NO. 3 & EXCEPTION PARCEL
GRAPHIC SCALE
EAST QUARTER CORNER SECTION 19, T2N, R67W
0 125 250 N
FOUND 3.25" ALUMINUM CAP STAMPED
"PLS, 38042, EDWARD DAMES' 2022"
( IN FEET)
1 inch = 251) ft
U.S. SURVEY FEET
�
S41'07'41"Egad P
mm'
POINT OF BEGINNING S88*56�040'
EXCEPTION PARCEL 0.0
NORTH LINE OF THE SOUTHEAST QUARTER OF
SECTION 19, TOWNSHIP 2 NORTH, RANGE 67 WEST
1_<3 - - - .' 6"V
S7
4S '8
L2
POINT OF
Xj
c� BEGINNING
MD NO. 1 MD NO. 3 0
L6
1,500 S.F. (0,0344 AC:)
(EXCEPTED PORTION)
MD NO. 3 so
693,376 S.F. (15.9178 AC.)
4' N62'02'19" E U)
N27*57'41 "IN
48.90'
N38'57'41 "W
179.60'
FOR AND ON BEHALF OF
MANHARD CONSULTING
BASIS OF BEARINGS SOUTH LINE OF THE SOUTHEAST QUARTER OF
S89'30'51"E 2640.86' SECTION 19, TOWNSHIP 2 NORTH, RANGE 67 WEST
F
�SOUTH QUARTER CORNER SOUTHEAST CORNER-T
SECTION 19, T2N, R67W SECTION 19, T2N, R67W
FOUND 3.25" BRASS CAP IN MONUMENT BOX FOUND 3.25" ALUMINUM CAP
STAMPED "1952 BUREAU OF LAND MANAGEMENT" IN MONUMENT BOX STAMPED
NOE -PLS, 38042, EDWARD JAMES 2022"
THIS EXHII31T DOES NOT REPRESENT A NIONUMENTED SURVEY,
IT 15 INTENDED ONLY TO DEPICT THE ATTACHED LEGAL DESCRIPTION,
rd,bid CONSULTING
7600 East Orchard Road, Suite 150-N, Greenwood Village, CO 80111 ph 303,708 0500 man hard com
Civil Engineering I Surveying & Geospatial Services I GIS
METROPOLOTAN DISTRICT NO. 3
PT. OF THE BE 1/4 SEC. 19, T2N, R67W, 6TH P
-OWN OF FIRESTONE, WELD COUNTY, COLOR
PRO,L MDR, DjB SHEET
DRAWN aY-. SwS OF
DATE, 07/07/23 3 3
SCALE 1 r= 250'
EXHIBIT C
Financial Plan
Firestone Vistas at Saddleback Metropolitan District
Weld County, Colorado
General Obligation Bonds, Series 2023
General Obligation Refunding & Improvement Bonds, Series 203
Service Plan
Bond Assumptions Series 2023 Series 2033 Total
Closing Date
12/1/2023
12/1/2033
First Gall Date
12/1/2028
12/1/2043
Final Maturity
12/1/2053
12/1/2063
Discharge Date
12/2/2063
12/2t2063
Sources of Funds
Par Amount
10,925,000-
19,805,000
Funds on Nand
0
1,037,220
Total
10,925,000
20,842,220
Uses of Funds
Project Fund
Refunding Escrow
0
10,580,000
Capitalized Interest
1,638,750
0
Reserve Fund
0
1,290000
Surplus Deposit
966,000
0
Cost of Issuance
468,500
299025
Total
10,925,000
20,842,220
Debt Features
Projected Coverage at Mill Levy Cap
1.00x
1.00x
Tax Status
Tax -Exempt
Tax -Exempt
Interest Payment Type
Current
Current
Rating
Non -Rated Investment
Grade
Coupon (Interest Rate)
5.000°l
3.000%
Annual Trustee Fee
$4,000
$4,000
Biennial Reassessment
Residential
6.009/o
6.00°l
Tax Authority Assumptions
Metropolitan District Revenue
Residential Assessment Ratio
Service Plan Base Year
202
Single Family Base Rate
6.959/
Single Family Current Rate
6.95%
Multi Family Base Rate
6.800
Multi Family Current Rate
6.80%
Debt Service Mills
Service Plan Mill Levy Cap
55.000
Maximum Adjusted Cap
55.000
Specific Ownership Tax
6.00%
County Treasurer Fee
1.50°l
Operations
Mill Levy
10.000
Town
Mill Levy
3.000
7r31/ 023
1
PIPERISANDLER
Firestone, Vistas at Saddloback Motropollion District
PIPERISANDLER
Firestone, Vistas at Saddloback Motropollion District
3
MMEMEM
Firestone Vistas at Saddleback Metropolitan District
k-st,,AdVM— F",�MWA U'.6 Ilmn" rwmwb,�SWUWRase,-j val-m
4,W) VA. co"-,bw Y� R.,—�t A,;WM Vah,. Ddi—W G.N�x,Jm Y-Y
2 Yw uv 2 Ytstit L. j
N Okf*,� 1 6 W%
2023
1,980,000
0
-
0
6,950%
0
2024
5,7$0,000
0
44
20,196,000
6765%
0
2025
6,730,000
574,200
44 -
40,795,920
62501Y.
0
2026
0
1,661,700
44 2,447,755
64,255,594
6, 9 W"
1,403,622
2027
0
1,W,700
64,255,594
6,950v.
2,835,316
2028
0
0
3,855,336
68,110,929
6,9501XI
4,465,764
2029
0
0
-
68,110,029
6,95011
4,465,764
mo
0
0
4,086,656
72,197,585
6,95ov.
4733,710
2031
0
0
72,19TS85
6,950%
4,733,710
2032
0
0
4,331,855
76,529,440
6,950%
6,017,732
2033
0
0
76,529,440
6 950%
5,017,732
2034
0
0
4,591,766
81,121,206
6.9601y.
5,318.796
2035
0
0
81,121.206
6950
5,318,796
2036
0
0
4,867,272
85,088,479
e.950%
5,637,024
2037
0
0
-
$5,988,479
6,950%
5,637,024
2038
0
0
5159,309
91,147,788
6.9509.
5,9761,49
2039
0
0
91,147188
6950%
6,976,199
2040
0
0
5,468,867
96,616,655
6 9504.
6,334,771
2041
0
0
96,616,655
6,960lk
6,334,771
2042
0
0
5,796,999
102,413.654
6,9501m,
6,714,858
2043
0
0
102,41S,654
6,950%
6,714,858
2044
0
0
6,144M9
108,558,473
6,9150%
7A17,749
2045
0
0
108,558,473
6.950111{
7,117,749
2046
0
0
6,613,508
115,071,982
6.9507u
7,544,814
2047
0
0
-
116,071,982
6,950%
7,544,814
2048
0
0
6,904,319
121,976,301
6,9509.
7,997,503
2040
0
0
-
121,976,301
WDSOW
7,1997,503
2050
0
0
7,318,578
129,204,87.4
6,950%
8,477,353
2051
0
0
-
120,294,879
6,0501Y.
8,477,353
2052
0
0
7.757,693
137,052,571
6,950%
8,985,994
2063
0
0
137,052,571
&9S0V.
8,935,994
2054
0
0
8,223,154
145,275126
6950%
9,525.154
2055
0
0
145,275,726
6,950%
9525154
2056
0
0
8,716,544
153,992,260
6,950136
1 0,096,663
2057
0
0
-
153,992,269
6 9$0w.
10,096,603
2058
0
0
0-239'536
163,231,8015
6,950%
10,702,463
2059
0
0
-
163,231,805
6.950%
10,702,463
2060
0
0
9.75;3,90e
173,026,714
6,950%
11,344,610
2M
0
0
173:025714
6.950v.
11,344,610
2062
0
0
1
10,381,543
183407,257
6,9501Y.
12,M,287
2063
0
0
-
183,407,257
6,950%
12,025,287
I'-- I— V �*I-k D 1 01 "0 Z� ,, I I 12"12
4
=Emmm
Firestone Vistas at Saddleback Metropolitan Distdiat
Hm.,JwW11
6ft Vwnwd Cumukh. stawb4y kwwJ valw, m
NA—W Rmwairr )I A0.4'Muo xwx,,rw't Whlim Y.r
2 Wv, Lag
00%
2023
0
6,8001,16
c
2024
0
6,7659
2025
150
39,01$,000
6,80096
2026
150 2,340,900
81,151.200
6 800%
2027
-
$1,151,200
6,8001Y
2,653,02(
2028
4M4,072
$6,020,272
6,800N,
5,518,281
2029
-
86,020272
6,800%
5,518,28' ,
2030
5,161,216
91,ISI,488
6,800%
5,UW�
2031
91;101,488
6,8001Y.
5,649,3V
2032
5,470,889
96,652,378
6.800'Y
6,200,341
2033
96,652,379
6,8001v
6200,341
2034
5,799,143-
102,451M0
GZ001Y.
6,572,36' ,
2035
-
102,461,520
0,80V. 0"
61572,3&
2036
6,147,091
108,598,611
6800%,
6,966,70
2037
-
108,598,611
6,800%
6,965,7M
2038
6,515,917
$15114,528
6800%
7384,70(
2039
115,114,528
6-800'y.
7,384,70(
2040
6,906,872
122,021,400
6800%
7,827,M
2041
122,021,400
6,800%
7,827,78E
2042
7,321,284
129.342,6$4
6.8001A
8,297,45!
2043
-
129,342,684
6800%
8,297,45!
2044
7,7W,561
137,103,245
SSW/.
8,795,30,
201*
137,103,245
6.800"m
8,795,30
2046
8,226.195
145,329,440
&800%
9,323,021
2047
145,329.440
6,800%
9,323,021
2048
s719,766
154,049,206
6,800%
9,882,4W
2049
-
154,Wa 206
6Z40IX
9,892,40,
2050
9,242W
163,292,156
6A001y"
10,475,34(
2051
-
163,292,158
6,80014
10,475,34(
2052
9197,529
173,089,698
6A00%
11,103,W"
2053
173,09,688
6,8WA
11,103,86-,
2054
10,385,381
183,475,069
6 8001Y
11,770,M
2056
-
183,475,069
6,800%
11,770kM
2056
11,008,504
194,483,573
6800%
12,476.30!
2057
194A83,573
680011,
12,476,30!
2058
1 1,M,01 4
206,152,588
6,8001Y.
13224,W,
2059
206,152,588
6.800%
13,224,8&
2060
12,369,155
218,521,743
6,8001Y
14,018,37f
2061
218,521,743
6,800%,
14,018,37(
2062
13,111,305
231,W3,047
&800%
UM9,47?
2063
231,633,047
6A001%
14,869,47z
Tot2i
$00 152,822,747
Firestone Vistas
at 5addielxack Metropolitan District
Raveture
TOW
Disulc1 mi I 8Yy v-o n im
Ey4wnsg
TOW
A--d Wk.,"
G�thi F.i�t I uvy
T7at+t miff i c v
.p-*, 0%imsr,%bT
C. -nty Ti 3mr Ann A
Tl A,, F-
R%wm Au
+:.dka-tamp Y.�ra
ias;t¢arsw
Tt m
,. 'plat Sr»t *3r
bts,0(56 Cab .
go 5696
fir.06tG .
1 50`#+
5ht70t3 T4tt;{+:tt
2022
0
0000
0
0
0
0:
:0.
2023
0
0.000
0
0
0
0:
;0,..
2024
0
55.000
0
0
0
(4,000)
{4,006)
2025
574,200
5$.000
31,423
1.1685
(471)
K000
28,937'
2026
3,065322
55,000
167750
10.,065
(2,516).
(4000)
171,298
2027.
7.150,036
58,000
301,286:
23,477
0,869)
(4,000)
:. ,804
2028
9,984,045
$5.000
546,377
32,783
(8196)
€4,006
$66,9 4
2029.
$984,045
55400
546,377
$2,783
(8,196):
(4,000)
S",954.
2030
10,%3;088
$5000.
679.159
34.:75t1
(81687)
(4000)
601,222:
2031
10593.O8S
55.000
579,159
34,750
(8,687)
(4,000)
601,
2032
11.,218,073
55400
613,909
30,835
(9,209}
(4,000)
637,535:.
20,19
11,218,073
55000
513,909
36,835
(91209).
(4,000)
6STA S:
2034
11,891,158
55000
650,744
39,045
(97+1)
(4,000)
: 676,027
2035
11;891,158
55.000
650,744-
39,045
{9 m)
(4,000
'; 676,027
20336
12,604.627
55,000
689;788
41,367
(10,347):
(4,0001
716,829::
2037.
12,604,627
55.000
688,788
41,387
(10.347)
(4,006)
716,M,
2035
13,860,906
55.000:
731,176
43,871
(10,968).
(4,000)
760,078:
2039
13,360,905
55,000
7$1,176
43,871
(10,968)
(4,000)
760,078
2040.
14,162,559
$6,000
775.046
46,503
(11,626)
(4000)
305,923
2041:
14,162,559
55000
775046
46,503
01162%
(4000)
505,923'.
2042
15,012,311
55.000
521,549
49,293
(12,323)
(41000)
854,519.
2043
15,012,313
55.000
821,549
49,293
021323}.
€4,006,,
854,699'.
2044
15913,051
55.000
$70,842.
52,251
(13,063)
(4,000)
qw,030'.
2045
15,913,051
$5,000
970,842
52,261
63,0c3)..
(4,000)
W,5,030
2046
16,867,835
55.000
923;092..
55,386
(13,846)
(4,000)
960,631
2047
16,867 83$
$5,000
923,i392
55„386
(13,846)
(4,000)
,631
2048.
17879905.
$5,000
978;478..
58,709
(14,677)
(4006
: 1,018,
20+49
17,876505
55.000
978,478
58,709
(14,677j
(4000)
1,018,509
2050
18,952;699
55400
1,037,166
62,231
(15,5558).
(4,000)
1,079,SW
2051
18,952,699
55.000
1,037186
62,231
(15,558}:
(4,000)
1.079,860
2052
20,089,861
55,000
1099,418
55.965
(16.491)
4.000
:: 1,144,891:
2053
20,069„$61
$5.000
1,099,418.
05.,965
:(16491).
(4,000)
1,144,01
2054:
21;295;252
55,000
1,165,389
59,923
(17,481)
(4000)
1,213,826
2055
21,295,252
55000
1165;383.
69,923
(17,481).
(4006
1,213,828..
2056
22,572,S68
55.000
1,235,306
741 U
(18,53a)
(4000)
: 1,266,894'.
2057:
22,572,968
55.000
1,235,306
7+4115
(18,530)
(4,000)
1,286,694
2058:
23,927,M
55000
1,309,424.
76,565
(19441).
(4000)
;: 1,344,340
2059
23,927,346
55.000
1,309,424
78,565
(19,641)
4000
:. 1,304,348'.:
2060
25,362,986
55:000
1,387.989
83,279
(20,820):
(4000)
1,446,449.
2061.
25,362,966
55.000
1387,989
83,279
(20.820):
(4000)
1,446,449
2062
20884766
55.000
1,471,269
88,276
(22,069)
(4,000
I,M,475+.
2063:
26,884,766
55:000
1,471,268
88,27E
1 (22,069).
(4,0001
:. 1,539,476
i:S zu a, «rL.6kai YA( I ia.",Ni,37 IY. 011.v r
6,,
PIPERISANDLER
Firestone Vistas at Saddleback Metropolitan District
7
Firestone Vistas
at Saddleback Metropolitan district
Revenue � O&M
Total
rations Mill Levy Revenue
Expense
Total
A -A ltrkae aft
ow imu L.vy OW M1€ Lv,,y 54bas W Ow - hip
t:-Oy €rua-
Flew mP.'
COAT; a YN'r
ecrkk.:.;#m" I-s;
Fwe
0 ofWatima,
10600 lap 90. OX ti 00%
1ti0`N,
10 000 T",q t
2022
0
10.000 0 0
0
0<
2023
0
10:000 0 0
0
0:
2024
0
10,000 0 0
0
0
2025
574200
10,000 $,742 343
(86)
51999:
2026
31065,322
10;000 30,653 1;no
(460)
: 32,023':
2027
7150,036
:10AI0 71,500 4,269
(1,073)
74„6%
2028
5.984,045
WON 99,840 5,9545
0,498)
104,303<
2029
9984,045
%000: 99,840 5,950
:(11495
104,303:
2030
10,583„088
10:000 105,831 6.318
(1158
:: 110,562:
2031
10.583;08$
10:000 105,831 6,318
(11567
;110,562•
2032
11218073
10;00D 112,10 6,697
(11683)
117,19,5
2033
11,218073
10,000 112,181 6,697
(116w)
:: 117,195:
2034
11,891,158
10.000 118,912 7,099
(1,784)
124,227'.
2035.
11AK156
10.000 118,912. 7,099
0,784
'124,227:
2036
1260027
10,000 126:046. 7.525
(1,691)
131,681'
2037
1260027
10-000 126,046 7,525
(1,891)
134,681'';
2038
13.360,905
10.000 133,609 7;876
(2,004)
;139,581;
2030
13.360,g06
10,000 133,609 7,576
(2,004)
538a561.
2040
14,162559
10,000 141,626 8455
(2,124)
!147,966
2041
14.162.559
10.000 141 AN 8,455
(2124)
141,956'.:
2042
15.01231$
10,000 150.123 8,962
:(2,252)
:155,
2043
15012,313
10.400 150,128 8,962
(2,252)
166,834
2044
15,913,051
10,000 159,131 9,500
(2,387)
166,244.
2045
15.913,051
10,000 159,131 91500
(2,38
:.. 166,244'.
2046
16,867,835
10000. 168,678 10.070
(2,530)
176,218'.
2047
16,867,835
10,000. 168,678: 10,070.
(21530)
176,210
2048
17879905
10,000 178,799 10,674
{2,682)
186,791.
2049
17879;905
10.000 178,799: 10,674
(2.682)
+186,791`
2050
18,452,609
10.000 1819,627 : 11,215
(2,848)
197,00
2051
18,952,699
10,000 189,527 11,315
(2,843)
'. 197,990i
2052
20,088:861
10.000 200,899 11,994
(31013)
209,879
2053
20,080,861
10:000. 200,899 11.994
(3,013)
': 209.875
2054
21,295,252
10,000 212,953 12,713
(3,194)
222,472!
2055
i1295,252
10,000 212,953 12713
(3,194)
222,472.
2056
22,572,968
10.;000 225,730 13,476
:(3,386)
236,920:
2067
22,572968
10:000. 225,730 13,476
(3,366)
i2235,8 0.:
205'0
23,927;346
l0000 239,273 14,285
{3589)
240,969'.
2059
23927,346
10.000 23.9,273 14,295
(3.,5991
249,069:
2060
25,362,980
10.000 253,63it iS;142
(9804
264.967`
24
25,362 SSr1
10,000 253,63o 16;142
:(3,s04)
264.967
2062
26,684766
10,000 268,846 16450
(4;033)
280,065'
20G3
26,984,766
10,000: 213$,848 16,050
(4.033`
280,866
.. z+. waf #kxt sY+x RgL^�sani (Ff.nt >>x�x 914tx 7£+tttrl
Firestone Vistas
at Saddleback Metropolitan district
Revenue � Town
Total
Operations Mill Levy Revenue
Expense
TOM
Amses. dVd.m
Tow M,111-y £4uh WOtan-hip
I m+n M.11 L.vy
tJ-ayirxa-
1x44"nmk%:A4 '
cdle wo yw
C.4'. ol, 7-s
Fw
'QBn G"P. 90.50%.. 600A6
1ti0`X
2022
0
3,000 0 0
0
0
2023
0
3.000 0 0
0
a
2024
0
31000 0 0
0
0:
2025
574,200
3,000 1,723 103
(26)
1,800
2026
3065,322
3:000 9,196 549
(138)
9,607
2027
7,150,036
3000 21450 1,281
(822j
22„409:
2028
9,964.045
:3 000 29,952 1.78&
("9
31,231::
2029
8984,045
3,000 29,952 1,788
(40
i 31051
2030
14583,088
31000 31,749 1,895
(4476)
33,168'.
2031
10583,088
$:000 31,749 105
(476)
33,10
2032
11,218,073
:3:000 3$;654 2,009
(505)
36,169
2033
11,218,073
3:000 33,654 2,009
: (505)
35,159:
2034
11,891,156
3060 35,673 2,130
(535)
37,20
2035
11,891,158
3.Qt74 35,673 2.130
(535
37,268`
2036
12,60027
3.000 37,81+4 2.257
(567)
39,504.
2037
12,604A27
3,000 37,814 2,257
: (567)
$9,604
2038
13,360,905
3,000 40,063 2.393
(601)
41,874i
2030
18160,905
:$.000 40,083 2,393
(601)
41,874.
2040
14,162,559
3,000 42,486 2,537
:.(637)
44,$87:
2041
14,162,559
3.000 42,485 2,537
(637)
44387;
2042
15,012,313
S.000 45,037 2,685
(676)
0450
2043
15,012,313
3000 45,037 2,689
(676)
47,050
2044
15,913,051
3.000: 47,739 2,850
(716)
40,873':
2045
15,413,051
3;000 47,738 21860.
(716
49,873'
2046
16,867;835
3,000: 50,604 3,021
(759)
: 52,805
2047
16867,835
3,000. 50,604 3,021
(755)
52,865
2048
17,879,905
31000 53,W 3.1202
(805)
9607.
2049
17,870;905
3.000 53.640 3,202
(805)
56,037':
2050
18.962 69-4
3,000 56,858 3„394
(863)
59,400
2051
18,952,699
3000. 56,858 3,394
(853)
: 59,400:.
2052
20084,861
3.00t 60;270 3,598
(904)
62,9"
2053
:20.089061
3:000 60,270 3;598
(804)
62,964:
2054
21,295,252
3,000 63,886 3,814
(958')
66„741
2055
21,295,252
31000 63,886 2,814
(058)
+ 66,741
2056
22.572;96S
3,000 67,71E 4,043
(1,016)
70,746:
2067
22.572,9 8
3,000 67,719 4,043
(1,016)
70,746
2058
23,927,346
3.000 71,782 4,285
0,077)
74,991
2059
23927,34E
3,000 71,782 4,265
(1,07r
74,951
2060
25,362,986
3.000 76,089 4543
(1,141)
79,490
2061
25,362,986
3,000 76,089 4;543
(1„141)
79.490
2062
26,884,766
3.000 00,654. 4.815
(1;210)
$4,260
20G3
26,684766
3kw 80,654. 4,815
(1,210`
04,260
Tatai
1,683,749 112,460
(2S,256
i:.967.953r
9
FIRESTONE VISTAS AT SADDLEBACK METROPOLITAN DISTRICT
Weld County, Colorado
GENERAL OBLIGATION BONDS, SERIES 2023
Dated Date 12/01/2023
Delivery Date 12/01/2023
Sources:
Bond Proceeds:
Par Amount 10,925,000.00
10,925,000,00
uses:
Project Fund Deposits:
Project Fund 7,851,75000
Other Fund Deposits:
Capitalized Interest Fund 1,638,750:00
Surplus Deposit 966,000.00
2,604,750.00
Cost of Issuance:
Cost of Issuance 250,000,00
Underwriter's Discount:
Underwriter's Discount 218,500.00
10,925,000,00
Jul 28, 2023 11:52 am Prepared by Piper Sandier Special District Group (Finance 8.901 Firestone Vistas at Saddleback MD:B 072723-23A)
M
BOND SUMMARY STATISTICS
FIRESTONE SADDLEBACK METR P01-tTA" SoRic
Weld County, Colorado
GENERAL OBLIGATION BONDS, SERIES 2023
Dated Date
12/01/2023
Delivery Date
12/01/2023
Last Maturity
12/01/2053
Arbitrage Yield
5.000000%
True Interest Cost (TIC)
5,151990%
Net interest Cost (NIC)
5.086353%
All -in TIC
5.331490%
Average Coupon
5.000000%
Average Life (years)
23,161
Duration of Issue (years)
13,574
Par Amount
10,925,000,00
Bond Proceeds
10,925,000.00
Total Interest
12,651,500.00
Net Interest
12,870,000.00
Total Debt Service
23,576,500.00
Maximum Annual Debt Service
1,144,500.00
Average Annual Debt Service
785,883.33
Underwriter's Fees (per $1000)
Average Takedown
Other Fee
20.000000
Total Underwriter's Discount 20.000000
Bid Price 98.000000
Par Averacie ,overage
Bond Component Value Price Coupon 6fe
Term Bond Due 2053 10,925,000.00 100,000 5.000% 23.161
10,925,000.00 23,161
All -In
Arbitrage
TIC
TIC
Yield
ParValue
10,925 000 00
10,925,000.00
10,925,000.00
• Accrued Interest
• Premium (Discount)
- Underwfter`s Discount
(218,500.00)
(218,500.00)
- Cost of Issuance Expense
(250,000.00)
- Other Amounts
Target Value
10,706,500.00
10,456,500.00
10,925,000.00
Target Date
12/01/2023
12/01/2023
12/01/2023
Yield
5151990%
5.331490%
5.000000%
Jul 28, 2023 11:52 am Prepared by Piper Sandier Special District Group (Finance 8.901 Firestone Vistas at Saddleback MD:B-072723-23A)
im
FIRESTONE VISTAS AT SADDLEBACK METROPOLITAN DISTRICT
Weld County, Colorado
GENERAL OBLIGATION BONDS, SERIES 2023
maturity
Bond Component Date
Amount
Rate
Yield
Price
Term Bond Due 2053:
12/01/2024
5.000%
&000%
100.000
12/01/2025
5. 00%
5,000%
100.000
12/01/2026
5.000%
5.000%
100.000
12/01/2027
5,000%
M00%
100.000"
12/01/2028
20,000
5.000%
5:000%
100.000
12/0112029
20,000
5.000%
5.000%
100.000
12/01/2030
55,000
5.000%
5.000%
100.000
12/01/2031
55,000
5.000%
5,000%
100,000
12/01/2032
95,000
5,000%
5.000%
100,000
12/0112033
100,000
5.000%
5,000%
100.000
12/01/2034
145,000
5.000%
5,000%
100.000
12/01/2035
150,000
5,000%
5.000%
100.000
12/01/2036
200,000
5.000%
5.000%
100.000
12/01/2037
210,000
5,000%
5.000%
100.000
12/01/2038
265,000
5.000%
5,000%
100.000
12/01/2039
275,000
5,000%
5.000%
100.000
12/01/2040
335,000
5,000%
5,000%
100,000
12/01/2041
355,000
5,000%
5.000%
100.000
12/01/2042
420,000
5,000%
5.000%
100.000
12/01/2043
440,000
5.000%
5.000%
100,000
12/01/2044
515,000
5.000%
5,000%
100.000
12/01/2045
540,000
5,000%
5,000%
100.000
12/01/2046
620,000
5,000%
5,000%
100.000
12/01/2047
655,000
5.000%
5.000%
100.000
12/01/2048
745,000
5.000%
5.000%
100,000
12/01/2049
780,000
5,000%
5,000%
100,000
12/01/2050
880,000
5.000%
5.000%
100,000
12/01/2051
925,000
5.000%
5.000%
100.000
12/01/2052
1,035,000
5.000%
5,000%
100.000
12/01/2053
1,090,000
5.000%
5.000%
100.000
10,925,000
Dated Date 12/01/2023
Delivery Date 12/01/2023
First Coupon 06/01/2024
Par Amount
10,925,000.00
Original Issue Discount
Production
10,925,000.00 100.000000%
Underwriter's Discount
(218,500.00) (2,000000%)
Purchase Price
10,706,500.00 98,000000%
Accrued Interest
Net Proceeds 10,706,500.00
Jul 28, 2023 11:52 am Prepared by Piper Sandier Special District Group (Finance 8.901 Firestone Vistas at Saddleback MD:B 072723-23A)
12
NET DEBT SERVICE
FIRESTONE VISTAS AT SADDLEBACK METROPOLITAN DISTRICT
Weld County, Colorado;
GENERAL OBLIGATION BONDS, SERIES 2023
Period
Ending
Principal
Coupon
Interest
Total
Debt Service
Capitalized
interest
Fund
Net
Debt Service
12/01/2024
546,250
546,250
546,250
12/01 /2025
546,250'
546,250
546,250
12/01/2026'
546,250
546,250
546,250
12/01/2027
546,250
546,250
546,250
12/01/2028
20,000
5.000%
546250
566,250
566,250
12/01/2029'
20,000
5.000%
545,250
565,250
565,250
12/01/2030`
55,000'
5.000°%
544,250
599,250
599,250
12/01/2031
55,000
5.000%
541,500
596,500
596,500
12/01 /2032
95,000
5.000%
538,750
633,750
633,750
12/01/2033
100,000
5.000%
534,000
634,000
634,000
12/01/2034
145,000
5.000°%
529,000
674,000
674,000
12/01/2035'
150,000
5.000%
521,750
671,750
671,750
12/01/2036'
200,000
5.000°%
514,250
714,250
714,250
12/01/2037
210,000
5,000%
504,250
714,250
714,250
12/01/2038
265,000
5.000%
493,750
758,750
758,750
12/01/2039
275,000
5,000%
480,500
755,500
755,500
12/01 /2040
335,000
5.000%
466,750
801,750
801,750
12/01/2041
355,000
5.000%
450,000
805,000
805,000
12/01/2042-
420,000'
5,000%
432,250
852,250
852,250
12/01/2043
440,000
5.000°%
411,250
851,250
851,250
12/01/2044
515,000
5.000%
389,250
904,250
904,250
12/01 /2045
540,000
5,000%
363,500
903,500
903,500
12/01/2046
620,000
5.000%
336,500'
956,500
956,500
12/01/2047
655,000
5.000%
305,500"
960,500
960,500
12/01/2048
745000
5.000%
272,750:
1,017,750
1,017,750
12/01/2049'
780,000
5.000%
235,500
1,015,500
1,015,500
12/01/2050`
880,000
5.000%
196,500
1,076,500
1,076,500
12/01/2051
925000
5,000°%
152500
1,077,500
1,077,500
12/01/2052;
1,035,000
5.000%
106,250
1,141,250
1,141,250
12/01/2053
1,090,000
5.000%
54,500
1,144,500
1,144,500
10,925,000
12,651,500
23,576,500
1,638,750
21,937,750
Jul 28, 2023 11:52 am Prepared by Piper Sandier Special District Group (Finance 8.901 Firestone Vistas at Saddleback MD:B 072723-23A)
13
FIRESTONE VISTAS AT SADDLEBACK METROPOLITAN DISTRICT
Weld County, Colorado
GENERAL OBLIGATION BONDS, SERIES 2023
Annual
Period Debt Debt
Ending Principal Coupon Interest Service Service
06101/2024-
273i125
273;125
12/0112024
273,125
273,125
546,250
06101/2025
273,125
273,125
12101/2025
273,125
273,125
546,250
06/01/2026
273,125
273,125
12/01/2026
273,125
273,125
546,250
06101/2027
273,125
273125
12/01/2027'
273,125
273;125
546,250
06/01/2028
273,125
273,125
12/01/2028
20,000"
5,000%
273,125
293,125
566,250
06/01/2029
272,625
272,625
12101/2029"
20,000
5,000%
272,625
292,625
565,250
06/01 /2030
272,12.5
272125
12/01/2030
55,000
5.000%
272,125
327,125
599,250
06101/2031
270,750:
270,760
12101/2031
55,000
5.000°%0
270,750:
325,750
596,500
06/0112032
269,375
269,375
12101/2032
95,000
5,000%
269,375
364,375
633,750
06/01/2033
267,000-
267,000
12/01/2033'
100,000:
5.000%
267,000
367,000
634,000
06101/2034
264,500:
264,500
12/01/2034
145,000
5.000%
264,500
409,500
674,000
0610112035
260,875
260,875
12/01/2035
150,000
5,000%
260,876
410,875
671,750
06/01/2036
257,125
257125
12/01/2036
200,000
5.000%
257,125
457,125
714,250
06/01/2037
252,125
252,125
12/01/2037
210,000
5.000%
252,125
462,125
714,250
06/01/2038
246,875
246,875
12/01/2038
265,000
5.000%
246,875
511,875
758,750
06/01/2039
240,2.50
240,250
12/01/2039
275,000
5,000%
240,250
515,250
755,600
0610112040
233,375
233,375
12101/2040
335,000
5.000%
233,375
568,375
801,750
06/01/2041
225,000
225,000
12101/2041
355,000
5.000°l0
225,000
580,000
805,000
06/01/2042
216,125
216125
12/01/2042
420,000:
5.000%
216,125
636,125
852,250
06/01/2043
205,625
205,625
12/01/2043
440,000
5.000%
205,625
645,625
851,250
06/0112044
194,625
194,625
12101/2044
515,000
5.000%
194,625
709,625
904,250
06/01/2045
181750
181,750
12101/2045
540,000
5.000%
181,750
721,750
903,500
06/01/2046
168,250
168,250
12/01/2046
620,000
5,000%
168,250
788,250
956,500
06/01/2047
152,750
152,750
12/01/2047
655,000
5,000%
152,750
807,750
960,600
06/01/2048
136,375
136,375
12/01/2048
745,000
5.000%
136,375
881,375
1,017,750
0610112049
117,750
117,750
12101/2049
780,000
5.000%
117,750
897,750
1,015,500
06/01/2050
98,250
98,250
12101/2050
880,000
5M0%
98,250
978,250
1,076,500
06/01/2051
76250-
76,250
12/01/2051
925,000
5,000%
76;250
1,001250
1,077,500
06/01/2052
53,125
53,125
12/01/2052
1,035,000
5.000%
53,125
1,088,125
1,141,250:
06/01/2053
27,250
27,250
12/01P2053
1,090,000:
5000%
27,250
1,117,250
1,144,500
10,925,000
12,651,500
23,576,500
23,576,500
Jul 28, 2023 11:52 am Prepared by Piper Sandler Special District Group (Finance 8.901 Firestone Vistas at Saddleback MD:8 072723-23A)
14
Weld County, Colorado rl GENERAL OBLIGATION BONDS, SERIES 2023
Call Table: CALL
Call Date Call Price
12/0112028
103M
12/01/2029
102,00
12/01/2030
101.00
12/01/2031
100.00
Jul 28, 2023 11:52 am Prepared by Piper Sandier Special District Group (Finance 8.901 Firestone Vistas at Saddleback MD:B-072723-23A)
15
FIRESTONE VISTAS AT SADDLEBACK METROPOLITAN DISTRICT
Weld County, Colorado
GENERAL OBLIGATION BONDS, SERIES 2023
Period Proposed Proposed Debt Service TotalAdf Revenue Unused Debt Service
Ending Principal Debt Service Adjustments Debt Service Constraints Revenues Coverage
12/01/2024
546,250
(546,250)
(4,000)
(4,000)
12/01/2025
546,250
(546,250)
28,837
28,837
12/01/2026
546,250
(546,250)
171,298
171,298
12/01/2027
546 250=
646,250
404,894
(141,356)
74.12%
12/01/2028
20,000
566,250
566,250
566,964
714
100.13%
12/01/2029
20,000
566,260
565,250
566,964
1,714
100M%
12101/2030
55,000
599,250
599,250
601,222
1,972
100.33%
12/01/2031
55,000
596,500
596,500
601,222
4,722
100.79%
12/01/2032
95,000
633,750
633,750
637,635
3,785
100,60%
12/01/2033
100,000
634,000
634,000
637,635
3,535
100.56%
12/01/2034
145,000
674,000
674,000
676,027
2,027
100.30%
12/01/2035
150,000
671,750
671,750
676,027
4,277
100.64%
12/01/2036
200,000
714,260
714,250
716,829
2,579
100.36%
12/01/2037
210,000
714,250
714,250
716,829
2,579
100.36%
12/01/2038i
265,000
758,750
758,760
760,078
1,328
100.18%
12/01/2039
275,000
755,500
755,500
760,078
4,578
100.61%
12/01/2040
335,000
801,750
801,750
805,923
4,173
100,52%
12/01/2041
355,000
805,000
805,000
805,923
923
100.11%
12/01/2042
420,000
852,250
852,250
854,519
2,269
10027%
12/01/2043
440,000
851,250
851,250
854,519
3,269
100M%
12/01/2044
515,000
904,250
904,250
906,030
1,780
100.20%
12/01/2045
540,000
903,500
903,500
906,030
2,530
100.28%
12/01/2046
620,000
956,500
956,500
960,631
4,131
100.43%
12/01/2047
656,000
960,500
960,500
960,631
131
100,01%
12/01/2048
745,000
1,017,750
1,017,750
1,018,509
759
100.07%
12/01/2049
780,000
1,016,600
1,016,500
1,018,509
3,009
100.30%
12/01/2050
880,000
1,076,500
1,076,500
1,079,860
3,360
100,31%
12/01/2051
925,000
1,077,500
1,077,600
1,079,860
2,360
10022%
12/01/2052
1,035X0
1,141,250
1,141,250
1,144,891
3,641
10032%
12/01/2053
1,090,000
1,144,500
1,144,500
1,144,891
391
100.03%
10,925,000
23,576,500
(1,638,750)
21,937,760
22,059,065
121,315
Jul 28, 2023 11:52 am Prepared by Piper Sandier Special District Group (Finance 8.901 Firestone Vistas at Saddleback MD:B 072723-23A)
16
FIRESTONE VISTAS AT SADDLEBACK METROPOLITAN DISTRICT
Weld County, Colorado
GENERAL OBLIGATION REFUNDING BONDS, SERIES 2033
Dated Date 12/01/2033
Delivery Date 12/01/2033
Sources:
Bond Proceeds:
Par Amount
19,805,000.00
Other Sources of Funds:
Surplus Fund
1,037,220,00
20,842,220.00
Uses,
Project Fund Deposits:
Project Fund
8,673,195,00
Refunding Escrow Deposits:
Cash Deposit
10,580,000.00
Other Fund Deposits:
Debt Service Reserve Fund
1,290,000.00
Cost of Issuance:
200,000,00
Underwriter's Discount:
Underwriter's Discount
99,025,00
20,842,220.00
Jul 28, 2023 12:00 pm Prepared by Piper Sandler Special District Group (Finance 8.901 Firestone Vistas at Saddleback MD:13 072723-33R,33R)
17
FIRESTONE VISTAS AT SADDLEBACK METROPOLITAN DISTRICT
Weld County, Colorado
GENERAL OBLIGATION REFUNDING BONDS, SERIES 2033
Dated Date
12/01/2033
Delivery Date
12/01/2033
Last Maturity
12/01/2063
Arbitrage Yield
3.000000%
True Interest Cost (TIC)
3.032402%
Net Interest Cost (NIC)
3,022947%
All -in TIC
3,098521%
Average Coupon
3.000000%
Average Life (years)
21.789
Duration of Issue (years)
15,691
Par Amount
19,805,000,00
Bond Proceeds
19,805,000,00
Total= Interest
12, 946 050,00
Net Interest
13,045,075:00
Total Debt Service
32,751,050.00
Maximum Annual Debt Service
2,822,200.00
Average Annual Debt Service
1,091,701.67
Underwriter's Fees (per $1000)
Average Takedown
Other Fee
5,000000
Total Underwriter's Discount 5.000000
Bid Price 99,500000
Par Average Averaae
Bond Component Value Price Coupon Life
Term Bond due 2063 19,805,000.00 100,000 3,000% 21,789
19,805,000.00 21.789
All -In Arbitrage
TIC TIC Yield
ParValue 19,805 000 00 19,805,000.00 19,805,000.00
• Accrued Interest
• Premium (Discount)
- Underwriter's Discount (99,025.00) (99,025.00)
- Cost of Issuance Expense (200,000.00)
- Other Amounts
Target Value
Target Date
Yield
12/01/2033
&032402%
Bonn=
12/01/2033
&098521%
12/01/2033
&000000%
Jul 28, 2023 12:00 pm Prepared by Piper Sandler Special District Group (Finance 8.901 Firestone Vistas at Saddleback MD:13 072723-33R,33R)
18
FIRESTONE VISTAS AT SADDLEBACK METROPOLITAN DISTRICT
Weld County, Colorado
GENERAL OBLIGATION REFUNDING BONDS, SERIES 2033
maturity
Bond Component Date
Amount
Rate
Yield
Price
Term Bond due 2063:
12/01/2034
80,000
3.000%
3.000%
100.000
12/01/2035
80,000
3.000%
3.000%
100.000
12/01/2036
125,000
3.000%
3,000%
100.000
12/01/2037
130,000
3.000%
3.000%
100.000'
12/01/2038
175,000
3.000%
3,000%
100.000
12/01/2039
180,000
3.000%
3.000%
100.000
12/01/2040
230,000
3.000%
3.000%
100.000
12/01/2041
240,000
3.000%
3.000%
100.000
12/01/2042
295,000
3,000%
&000%
100.000
12/01/2043
305,000
3.000%
3.000%
100,000
12/01/2044
365,000
3,000%
3.000%
100.000
12/01/2045
375,000
3,000%
3,000%
100.000
12/01/2046
440,000
3.000%
3i000%
100.000
12/01/2047
455,000
3,000%
3,000%
100.000
12/01/2048
525,000
3.000%
&000%
100.000
12/01/2049
540,000
3,000%
3.000%
100,000
12/01/2050
620,000
3,000%
3.000%
100,000
12/01/2051
640,000
3.000%
&000%
100.000
12/01/2052
720,000
3.000%
3.000%
100.000
12/0112053
745,000
3,000%
3.000%
100.000
12/01/2054
835,000
3,000%
3,000%
100.000
12/01/2055
860,000
3.000%
3.000%
100.000
12/01/2056
960,000
3.000%
3.000%
100.000
12/01/2057
990,000
3.000%
3.000%
100,000
12/01/2058
1,095,000
3,000%
3.000%
100,000
12/01/2059
1,130,000
3,000%
3,000%
100,000
12/01/2060
1,245,000
3.000%
3.000%
100.000
12/01/2061
1,280,000
3.000%
3.000%
1100M0
12/01/2062
1,405,000
3,000%
3,000%
100.000
12/01/2063
2,740,000
3.000%
&000%
100.000
19,805,000
Dated Date 12/01/2033
Delivery Date 12/01/2033
First Coupon 06/01/2034
Par Amount
19,805,000.00
Original Issue Discount
Production
19,805,000.00 100.000000%
Underwriter's Discount
(99,025.00) (0,500000%)
Purchase Price
19 705,975 00 99,500000%
Accrued 1nterest
Net Proceeds 19,705,975.00
Jul 28, 2023 12:00 pm Prepared by Piper Sandler Special District Group (Finance 8.901 Firestone Vistas at Saddleback MD:13 072723-33R,33R)
19
NET DEBT SERVICE
FIRESTONE VISTAS AT SADDLEBACK METROPOLITAN DISTRICT
Weld County, Colorado
GENERAL OBLIGATION REFUNDING BONDS, SERIES 2033
Period
Ending
Principal
Coupon
Interest
Total
Debt Service
Debt Service
Reserve Fund
Net
Debt Service
12/01/2034
80,000
3.000%
594,150
674,150
674,150
12/01/2035
80,000
3.000%
591,750
671,750
671,750
12/01/2036
125000
3.000%
589,350
714,350
714,350
12/01/2037
130,000
3.000%
585,600
715,600
715,600
12/01/2038
175000
3.000%
581,700
756,700
756,700
12/01 /2039
180,000
3.000%
576,450
756,450
756,450
12/01/2040
230,000
3.000%
571,050
801,050
801,050
12/01/2041
240000
3.000%
564,150
804,150
804,150
12/01/2042
295,000
3.000%
556,950
851,950
851,950
12/01/2043
305,000
3.000%
548,100
853,100
853,100
12/01/2044
365,000
3.000%
538,950
903,950
903,950
12/01/2045'
375,000
&000%
528,000`
903,000
903,000
12/01/2046
440000
3.000%
516,750
956,750
956,750
12/01/2047
455000
3.000%
503,550
958,550
958,550
12/01/2048
525,000
3.000oj
489,900
1,014,900
1`,014,900
12/01/2049'
540,000
3.000%
474,150
1,014,150
1,014,150
12/01/2050
620,000
3,000%
457,950
1,077,950
1,077,950
12/01/2051
640,000
3,000%
439,350
1,079,350
1,079,350
12/01 /2052`
720,000
3.000%
420,150
1,140,150
1,140,150
12/01/2053
745,000
3.000%
398,550
1,143,550
1,143,550
12/01/2054
835,000
&000%
376,200'
1,211,200
1,211,200
12/01/2055
860000
3.000%
351,150
1,211,150
1,211,150
12/01/2056'
960,000
3.000%
325,350
1,285,350
1,285,350
12/01/2057`
990,000
3,000%
296,550
1,286,550
1,286,550
12/01/2058
1,095,000
3.000%
266,850
1,361,850
1,361,850
12/01/2059`
1„130,000
3.000%
234,000
1,364,000
1,364,000
12/0112060
1,245,000
3.000 0
200,100
1,445,100
1,445,100
12/01/2061
1,280000
3.000%
162,750
1,442,750
1,442,750
12/01/2062
1,405,000
3.000%
124,350
1,529,350
1,529,350
12/01/2063
2,740000
3.000%
82,200'
2,822,200
1,290,000
1,532,200
19,805000
12,946,050
32,751,050
1,290,000
31,461,050
Jul 38, 2023 12:00 pm Prepared by Piper Sandler Special District Group (Finance 8.901 Firestone Vistas at Saddleback MD:13_072723-33R,33R)
20
FIRESTONE VISTAS AT SADDLEBACK METROPOLITAN DISTRICT
Weld County, Colorado
GENERAL OBLIGATION REFUNDING BONDS, SERIES 2033
Annual
Period Debt Debt
Ending Principal Coupon Interest Service Service
06101/2034
297075
297,075
12/01 /2034
80,000
3.000%
297:075
377,075
674,150
06101/2035
295,875
295,875
1210 1 P2035
80,000
3,000%
295,875
375,875
671,750
06/01/2036
294,675
294,675
12/01 /2036
125,000
3.000%
294,675
419,675
714,350
06101/2037
292 800
292,800
12/01 12037
130,000
3.000%
292:800
422,800
715,600
06/01/2038
290,850
290,850
12/01/2038
175,000
3,000%
290,850
465,850
756,700
06/01/2039
288,225
288,225
12101/2039
180,000
3.000%
288,225
468,225
756,450
06/01/2040
285,52,5
285,525
12/01/2040
230,000
3.000%
285,525
515,525
801,050
06101/2041
282,075
282,075
12/01/2041
240,000
3.000%
282,075
522,075
804,150
06/0112042
278,475
278,475
12101/2042
295,000
3,000%
278,475
673,475
851,950
06/01/2043
274,050
274,060
12/0112043
305,000
3.000%
274,050
579,050
853,100
06/01/2044
269,475
269,475
12/01/2044
365,000
3,000%
269,475
634,475
903,950
06/01/2045
264,000
264,000
12/01/2045
375,000
3.000%
264,000
639,000
903,000
06/0112046
258,375
258,375
12/01/2046
440,000
3,000%
258,375
698,375
956,750
06/01/2047
251,775
251,775
12/01/2047
455,000
3.000%
261,775
706,775
958,550
06/01/2048
244,950
244,950
12/01/2048
525,000
3.000%
244,950
769,950
1,014,900
06/01/2049
237,075
237,075
12/01/2049
.540,000
3,000%
237,075
777,075
1,014,150
06101/2050
228,975
228,975
12101/2050
620,000
3.000%
228,975
848,975
1,077,950
06/01/2051
219,675
219,675
12101/2051
640,000
3.000%
219,675
859,675
1,079,350
06/01/2052
210,07.5
210,075
12/01/2052
720,000
3.000%
210,075
930,075
1,140,150
06/01/2053
199,275
199,275
12101/2053
745,000
3.000%
199,275
944,275
1,143,550
06/01/2054
188,100
188,100
12/01/2054
835,000
3.000%
188,100
1,023,100
1,211,200
06/01/2055
175,575
175,575
12/01/2055
860,000
3.000%
175,575
1,035,575
1,211,150
06101/2056
162,675
162,675
12/01/2056
960,000
3.000%
162,675
1,122,675
1,285,350
06/0112057
148,275
148,275
12101/2057
990,000
3,000%
148,275
1,138,276
1,286,550
06/01/2058
133,425
133,425
12/01/2058
1,095,000
3.000%
133,425
1,228,425
1,361,850
06/0112059
117,000
117,000
12101/2059
1,130,000
3.000%
117,000
1,247,000
1,364,000
06101/2060
100,050
100,060
12/01/2.060
1,245,000
3,000%
100,050
1,345,050
1,445,100
06/01/'2061
81,375
81,375
12/01/2061
1,280,000
3.000%
81,375
1,361375
1,442,750
06Y0112062
62,175
62,175
12/01/2062
1,405,000
3,000%
62,175
1,467,175
1,529,350
06101/2063
41,100
41,100
12/01/2063
2,740,000
3.000%
41,100
2,781,100
2,822,200
19,805,000
12,946,050
32,751,050
32,751,050
Jul 28, 2023 12:00 pm Prepared by Piper Sandier Special District Group (Finance 8,901 Firestone Vistas at Saddleback MD:B_072723-33R,33R)
91
FIRESTONE VISTAS AT SADDLEBACK METROPOLITAN DISTRICT
Weld County, Colorado
GENERAL OBLIGATION REFUNDING BONDS, SERIES 2033
Call Table: CALL
Call Date Call Price
12/0112043 100.00
Jul 28, 2023 12:00 pm Prepared by Piper Sandler Special District Group (Finance 8.901 Firestone Vistas at Saddleback MD:13 072723-33R,33R)
22
SUMMARY OF BONDS REFUNDED
FIRESTONE VISTAS AT SADDLEBACK METROPOLITAN DISTRICT
Weld County, Colorado
GENERAL OBLIGATION REFUNDING BONDS, SERIES 2033
maturity
Bond Date
interest
Rate
Par
Amount
Call
Date
call
Price
Series 2023A - Current Interest Bonds, 23A, TERM53:
12/01/2034
5,000%
145,000
12/01/2033
100.000
12/01/2035
5.000%
150,000
12/01/2033
100.000
12/01/2036
5.000%
200,000
12/01/2033
100.000
12/01/2037
5.000%
210,000
12/01/2033
100,000
12/01/2038
5.000%
265,000
12/01/2033
100.000
12/01/2039
5.000%
275,000
12/01/2033
100.000
12/01/2040
5,000%
335,000
12/01/2033
1 MOW
12/01/2041
5M0%
355,000
12/01/2033
100.000
12/01/2042
5.000%
420,000
12/01/2033
100.000
12/01/2043
5,000%
440,000
12/01/2033
100.000
12/01/2044
5.000%
515,000
12/01/2033
100,000
12/01/2045
5.000%
540,000
12/01/2033
100.000
12/01/2046
5.000%
620,000
12/01/2033
100L00
12/01/2047
5.000%
655,000
12/01/2033
100.000
12/01/2048
5,000%
745,000
12/01/2033
100,000
12/01/2049
5,000%
780,000
12/01/2033
100.000
12/01/2050
5,000%
880,000
12/01/2033
100.000
12/01/2051
5.000%
925,000
12/01/2033
100.000
12/01/2052
5.000%
1,035,000
12/01/2033
100.000
12/01/2053
5.000%
1,090,000
12/01/2033
100.000
10,580,000
Jul 28, 2023 12:00 pm Prepared by Piper Sandler Special District Group (Finance 8.901 Firestone Vistas at Saddleback MD:13 072723-33R,33R)
23
URMUE���
FIRESTONE VISTAS AT SADDLEBACK METROPOLITAN DISTRICT
Weld County, Colorado
GENERAL OBLIGATION REFUNDING BONDS, SERIES 2033
Dated Date 12/01/2033
Delivery Date 12/01/2033
Period Principal
Ending Redeemed Total
12/01/2033 10,580,000 10,580,000.00
10,580,000 10,580,000.00
Jul 28, 2023 12:00 pm Prepared by Piper Sandler Special District Group (Finance 8.901 Firestone Vistas at Saddleback MD:13 072723-33R,33R)
24
BOND SOLUTION
FIRESTONE VISTAS AT SADDLEBACK METROPOLITAN DISTRICT
Weld County, Colorado
GENERAL OBLIGATION REFUNDING BONDS, SERIES 2033
Period
Ending
Proposed
Principal
Proposed
Debt Service
Debt Service
Adjustments
TotalAdf
Debt Service
Revenue
Constraints
Unused
Revenues
Debt Service
Coverage
12/01/2034
80,000
674,150
674,150
676,027
1,877
100.28%
12/01/2035
80,000
671,750
671,750
676,027
4,277
12/01/2036
125,000
714,350
714,350
716,829
2,479
100M%
12/01/2037
130,000
715,600
715,600
716,829
1,229
100.17%
12/01/2038
175,000
756,700
766,700
760,078
3,378
100.45%
12/01/2039
180,000
756,450
766,450
760,078
3,628
100A8%
12/01/2040
230,000
801,050
801,050
805,923
4,873
100.61%
12/01/2041
240,000
804,150
804,150
805,923
1,773
100,22%
12/01/2042
295,000
861,950
851,950
854,519
2,569
100,30%
12/01/2043
305,000
853,100
863,100
854,519
1,419
100.17%
12/01/2044
365,000
903,950
903,950
906,030
2,080
100,23%
12/01/2045
375,000
903,000
903,000
906,030
3,030
100,34%
12/01/2046<
440,000
956,750
956,750
960,631
3,881
100.41%
12/0112047
455,000
958,550
958,550
960,631
2,081
100.22%
12/01/2048
525,000
1,014,900
1,014,900
1,018,509
3,609
100.36%
12/01/2049
540,000
1,014,150
1,014,150
1,018,509
4,359
100.43%
12/01/2050
620,000
1,077,950
1,077,950
1,079,860
1,910
100,18%
12/01/2051
640,000
1,079,350
1,079,350
1,079,860
510
100.05%
12101/2052
720,000
1,140,150
1,140,150
1,144,891
4,741
100.42%
12/01/2053
745,000
1,143,550
1,143,550
1,144,891
1,341
100.12%
12/01/2054
835,000
1,211,200
1,211,200
1,213,825
2,625
100.22%
12/01/2055
860,000
1,211,150
1,211,150
1,213,825
2,675
100.22%
12/01/2056
960,000
1,285,350
1,285,350
1,286,894
1,544
100.12%
12/01/2057
990,000
1,286,550
1,286,660
1,286,894
344
100,03%
12/01/2058
1,095,000
1,361,850
1,361,850
1,364,348
2,498
100.18%
12/01/2069
1,130,000
1,364,000
1,364,000
1,364,348
348
100,03%
12/01/2060
1,246,000
1,445,100
1,445,100
1,446,449
1,349
100.09%
12/01/2061
1,280,000
1,442,750
1,442,750
1,446,449
3,699
100,26%
12/01/2062
1,405,000
1,529,350
1,529,350
1,533,476
4,126
10027%
12/01/2063
2,740,000
2,822,200
(1,290,000)
1,532,200
1,533,476
1,276
100.08%
19,805,000
32,751,050
(1,290,000)
31,461,050
31,536,579
75,529
Jul 28, 2023 12:00 pm Prepared by Piper Sandier Special District Group (Finance 8.901 Firestone Vistas at Saddleback MD:B-072723-33R,33R)
im
EXHIBIT D
Capital Plan - List of Public Improvements
CONCEPTUAL ENGINEER'S OPINION OF PROBABLE COST
1W VISTAS AT SADDLEBACK - FRONTIER STREET AND GRANT AVENUE IMPROVEMENTS
1b TOWN OF FIRESTONE, COLORADO
Hanhard, APRIL 2023
SCHEDULE I - EXCAVATION AND GRADING IMPROVEMENTS
1 Grading
9.5 ACRE
$35,000.00
$332,500.00
2 Over Excavation
43,550 CY
$6.00
$261,300.00
3 Concrete Washout
2 EACH
$4,500.00
$9,000.00
4 Construction Entrance
1 LUMPSUM
$5,000.00
$5,00000
TOTAL SCHEDULE I - EXCAVATION AND GRADING IMPROVEMENTS $607,800.00
SCHEDULE II- UNDERGROUND IMPROVEMENTS
STORM SEWER IMPROVEMENTS
1
15" HDPE Storm Sewer Pipe
50
LF
$55.00
$2,750.00
2
15" RCP Storm Sewer Pipe
150
LF
$65:00
$9,750.00
3
18" HDPE Storm Sewer Pipe
450
LF
$60.00
$27,000.00
4
24" RCP Storm Sewer Pipe
80
LF
$75.00
$6,000.00
5
Precast Concrete Flared End Section w/G rate 19'
1
EACH
$2,200.00
$2,200.00
6
Precast Concrete Flared End Section w/Grate 24'
2
EACH
$2,600.00
$5,200.00
7
6 Type R Inlet
8
EACH
$9,000.00
$72,000.00
8
Storm Manhole
4
EACH
$5,000.00
$20,000.00
9
Inlet Filter
8
EACH
$400.00
$3,200.00
10
Culvert Protection
1
EACH
$400.00
$400.00
TOTAL SCHEDULE 11 - UNDERGROUND IMPROVEMENTS
$148,500,00
SCHEDULE III -OFF-SITE ROADWAY IMPROVEMENTS
1
Aggregate Base Course
30,000
SY
$18.00
$540,000j00
2
Subgrade Preparation
45,000
SY
$4.00
$180,000.00
3
Hot -Mix Asphalt
30,000
SY
$44.00
$1,320,000.00
4
Concrete Curb 15
15,500
LF
$20.00
$310,000.00
5
Concrete Curb 2.5
26,800
LF
$30.00
$804,000.00
6
Storm Sewer Removal
50
LF
$30.00
$1,500.00
7
Pavement Removal
960
SY
$15.00
$14,400.00
8
Sawcut Pavement, Full Depth
300
LF
$3.50
$1,050.00
9
PCC Sidewalk - 6" with Subbase
40,400
SF
$7.00
$282,800.00
10
Sanitary Manhole Frame Adjustment
10
EACH
$500.00
$5,000.00
11
Valve Box Adjustment
1
EACH
$500.00
$500.00
12
Concrete Median
67,500
SF
$7.00
$472,500.00
13
Signage and Striping
I
LS
$80,000.00
$80,000.00
14
Street Lights
10
EACH
$15,000.00
$150,000.00
TOTAL SCHEDULE III - OFF -SITE ROADWAY IMPROVEMENTS $4,161,750.00
SUBTOTAL SCHEDULES 1-111 $4,918,050.00
CONTINGENCY @ 261/6 $1,229,51300
TOTAL $6,147,563,00
TOTAL PER LINEAR FOOT (ASSUMES 5,445 LF) $1,129:03
CONCEPTUAL ENGINEEWS OPINION OF PROBABLE COST
1W VISTAS AT SADDLEBACK - FRONTIER STREET AND GRANT AVENUE IMPROVEMENTS
1b TOWN OF FIRESTONE, COLORADO
Hanhard, APRIL 2023
C 0 H S U L T Y A C
Prepared By: Manhard Consulting, Ltd.
1001 Bannock Street, Suite 107
Denver, Colorado 80204
NOTES:
1.) This Engineer's Opinion of Probable Cost is made on the basis of Engineer's experience and qualifications using plan quantities
and represents Engineer's best judgment as an experienced and qualified professional engineer generally familiar with the
construction industry, However, since the Engineer has no control over the cost of labor, materials, equipment or services
furnished by others, or over the Contractor's methods of determining prices, or over competitive bidding or market conditions, or
over quantities of work actually performed, Engineer cannot and does not guarantee that proposals, bids or actual Construction
Cost will not vary from Opinions of Probable Cost prepared by Engineer. This Opinion of Probable Construction Cost is limited to
those items stated herein and does not include permit fees, recapture costs, consultant fees landscaping, dewatering,
maintenance, bonds or the like.
2.) This conceptual cost estimate assumes a full build -out of each roadway. Additional discussions with the Town may determine the
full sections are not required for both roadways at this time.
3.) The conceptual cost estimate assumes the construction of Frontier Street from Grant Avenue to Panorama Avenue.
4.) The conceptual cost estimate assumes the construction of Grant Avenue from Frontier Street to Sherilynn Circle.
5) The conceptual cost estimate does not contemplate any further improvements to the existing sanitary or watermain
improvements within the existing right-of-way
6.) The conceptual cost estimate does not contemplate the removal and replacement or relocation of any of the existing dry utilities.
CONCEPTUAL ENGINEERS OPINION OF PROBABLE COST
1W VISTAS AT SADDLEBACK - MULTIFAMILY
hil TOWN OF FIRESTONE, COLORADO
Hanhard, APRIL 2023
ITEM DESCRIPTION QUANTITY UNIT UNIT PRICE EXTENSION
1
Overlot Grading
15
ACRE
$35,000.00
$525,000.00
2
Fine Grading
15
ACRE
$15,000.00
$225,000.00
3
Over Excavation
90,000
CY
$6:00
$540,000.00
4
Silt Fence
1,700
LF
$100
$5,100.00
5
Concrete Washout
1
EACH
$4,500.00
$4,500.00
6
Construction Entrance
I
LUMP SUM
$5000.00
$5,000.00
TOTAL SCHEDULE I - EXCAVATION AND GRADING IMPROVEMENTS $1,304,600.00
SCHEDULE II- UNDERGROUND IMPROVEMENTS
A.
SANITARY SEWER IMPROVEMENTS
1
8" PVC Sanitary Sewer
3,000
LF
$90.00
$270,000.00
2
6" PVC Sanitary Service
900
LF
$35;00
$31,500.00
3
4' Diameter Manhole
14
EACH
$10,000.00
$140,000,00
4
Connection to Existing Manhole
1
EACH
$30,000.00
$30,000.00
SUBTOTAL A - SANITARY SEWER IMPROVEMENTS
$471,500.00
B.
WATER MAIN IMPROVEMENTS
1
8" PVC Water Main
2,500
LF
$70.00
$175,000.00
2
6" Water Service
900
LF
$45.00
$40,500.00
3
8" Valve and Box
11
EACH
$2,200.00
$24,200.00
4
Fire Hydrant with Auxiliary Valve
12
EACH
$6,000.00
$72,000.00
5
Flushing Hydrant
1
EACH
$1'000.00
$1,000.00
6
Pressure Connection with Valve Box
2
EACH
$6,000.00
$12,000.00
SUBTOTAL B - WATER MAIN IMPROVEMENTS
$324,700.00
C.
STORM SEWER IMPROVEMENTS
1
12" HDPE Storm Sewer Pipe
600
LF
$50.00
$30,000.00
2
15" HDPE Storm Sewer Pipe
250
LF
$55.00
$13,750.00
3
18" HDPE Storm Sewer Pipe
600
LF
$60.00
$36,000.00
4
24" HDPE Storm Sewer Pipe
1,000
LF
$70.00
$70,000.00
5
30" HDPE Storm Sewer Pipe
200
LF
$70.00
$14,000.00
6
36" RCP Storm Sewer Pipe
350
LF
$90.00
$31,500.00
7
48" RCP Storm Sewer Pipe
50
LF
$150.00
$7,500.00
8
54" RCP Storm Sewer Pipe
200
LF
$175.00
$35,000.00
9
Precast Concrete Flared End Section w/Grate 15"
1
EACH
$2,000.00
$2,000.00
10
Precast Concrete Flared End Section w/Grate 36"
1
EACH
$3,500.00
$3,500.00
11
Precast Concrete Flared End Section w/Grate 48"
1
EACH
$4,500.00
$4,500.00
12
Precast Concrete Flared End Section w/Grate 54"
1
EACH
$5,000.00
$5,000.00
13
Outlet Control Structure
1
EACH
$20,000:00
$20,000.00
14
Type 13 Inlet
20
EACH
$4,600.00
$92,000.00
15
5' Type R Inlet
3
EACH
$9,000.00
$27,000,00
16
Storm Manhole
9
EACH
$5'000.00
$45,000.00
17
Inlet Filter
24
EACH
$400.00
$9,600.00
18
Yard Drain System
1
EACH
$200,000.00
$200,000.00
SUBTOTAL C - STORM SEWER IMPROVEMENTS $646,350.00
CONCEPTUAL ENGINEERS OPINION OF PROBABLE COST
VISTAS AT SADDLEBACK - MULTIFAMILY
hil TOWN OF FIRESTONE, COLORADO
APRIL 202
ITEM DESCRIPTION QUANTITY UNIT UNIT PRICE EXTENSION
TOTAL SCHEDULE 11 - UNDERGROUND IMPROVEMENTS (A-C)
$1,442,5%00
SCHEDULE III - ON -SITE HARDSCAPE IMPROVEMENTS
1 Aggregate Base Course;
24,200
SY
$18.00
$435,600.00
2 Subgrade Preparation
36,000
SY
$4.00
$144,000.00
3 Hot -Mix Asphalt
24,200
SY
$44.00
$1,064,800.00
4 Concrete Curb
6,850
LF
$20.00
$137,000.00
5 PCC Sidewalk w/ Subbase
17,700
SF
$7 00
$123,900.00
6 Signage and Striping
1'
LS
$30,000.00
$30,00000
7 Street Lights
8
EACH
$15 000.00
$120,000.00
TOTAL SCHEDULE III - ON -SITE HARDSCAPE IMPROVEMENTS
$2,055,300.00
SUBTOTAL SCHEDULES 1-111
$4,802,450.00
CONTINGENCY @ 25%
$1,200,613.00
TOTAL
$6,003,063.00
TOTAL PER MULTIFAMILY UNIT (ASSUMES 324 UNITS)
$18,528.00
Prepared By Manhard`Consulting, Ltd.
1001 Bannock Street, Suite 107
Denver, Colorado 80204
NOTE: This Engineer's Opinion of Probable Cost is made on the basis of Engineer's experience and qualifications using plan quantities;
and represents Engineer's best judgment as an experienced and qualified professional engineer generally familiar with the construction
industry. However, since the Engineer has no control over the cost of labor;; materials, equipment or services furnished by others, or over
the Contractors methods of determining; prices, or over competitive bidding or market conditions, or over quantities of work actually
performed, Engineer cannot and does not guarantee that proposals; bids or actual Construction Cost will not vary from Opinions of
Probable Cost prepared by Engineer. This Opinion of Probable Construction Cost is limited to those items stated herein and does not
include permitfees, recapture costs, consultant fees landscaping, dewatering, maintenance, bonds or the like.
CONCEPTUAL ENGINEERS OPINION OF PROBABLE COST
VISTAS AT SADDLEBACK - SHARED DRIVE ACCES
TOWN OF FIRESTONE, COLORADO
Hanhard, APRIL 2023
SCHEDULE 1- EXCAVATION AND GRADING IMPROVEMENTS
I Excavation Cut to Fill
1
ACRE
$25,000.00
$25,000.00
2 Over Excavation
3,000
CY
$6.00
$18,000.00
3 Sift Fence
600
LF
$3.00
$1,800.00
4 Construction Entrance
1
LUMP SUM
$5,000.00
$5,000.00
TOTAL SCHEDULE I - EXCAVATION AND GRADING IMPROVEMENTS $49,800.00
SCHEDULE II- UNDERGROUND IMPROVEMENTS
A.
STORM SEWER IMPROVEMENTS
1
12" HDPE Storm Sewer Pipe
400
LF
$50,00
$20,000.00
2
18" HDPE Storm Sewer Pipe
400
LF
$60.00
$24,000.00
3
30" HDPE Storm Sewer Pipe
100
LF
$70.00
$7,000.00
4
Type R Inlet
4
EACH
$9,000.00
$36,000.00
5
Storm Manhole
1
EACH
$5,000.00
$5,00000
6
Inlet Filter
4
EACH
$400:00
$1,600.00
7
Precast Concrete Flared End Section w/Grate 30"
1
EACH
$3,000.00
$3,000.00
SUBTOTAL A - STORM SEWER IMPROVEMENTS
$96,600.00
B.
WATER MAIN IMPROVEMENTS
1
8" PVC Water Main
900
LF
$70,00
$63,000.00
2
Pressure Connection with Valve Box
1
EACH
$6,000.00
$6,000.00
3
8" Valve and Box
3
EACH
$2,200.00
$6,600.00
4
Fire Hydrant with Auxiliary Valve
3
EACH
$6,000.00
$18,000.00
SUBTOTAL B -'WATER MAIN IMPROVEMENTS $93,600.00
TOTAL SCHEDULE 11 - UNDERGROUND IMPROVEMENTS $190,200,00
[.-I*] I I=[ 50 IN =1 I InA 0 &11 k 11 =11111: FA V 91*91-11:2 =1 I LTI 1:2 zTqTj =1 6 1 =1 0111
1
Aggregate Base Course
2,000
SY
$18.00
$36,000.00
2
Subgrade Preparation
3,000
SY
$4.00
$12,000.00
3
Hot -Mix Asphalt
2,000
SY
$44.00
$88,000.00
4
Concrete Curb
1,000
LF
$20.00
$20,000.00
5
Signage and Striping
1
LS
$1,250.00
$1,250.00
6
Street Lights
4
EACH
$15,000.00
$60,000.00
TOTAL SCHEDULE III - ON -SITE HARDSCAPE IMPROVEMENTS $217,250.00
SUBTOTAL SCHEDULES 1-111 $457,250.00
CONTINGENCY @ 25% $114,313.00
TOTAL $571,563,00
CONCEPTUAL ENGINEERS OPINION OF PROBABLE COST
VISTAS AT SADDLEBACK - SHARED DRIVE ACCES
TOWN OF FIRESTONE, COLORADO
Manhard, APRIL 2023
Prepared By: Manhard Consulting, Ltd.
1001 Bannock St, Suite 107
Denver, Colorado 80204
NOTE: This Engineer's Opinion of Probable Cost is made on the basis of Engineer's experience and qualifications using plan quantities
and represents Engineers best judgment as an experienced and qualified professional engineer generally familiar with the construction
industry. However, since the Engineer has no control over the cost of labor, materials, equipment or services furnished by others, or over
the Contractor's methods of determining prices, or over competitive bidding or market conditions, or over quantities of work actually
performed, Engineer cannot and does not guarantee that proposals, bids or actual Construction Cost will not vary from Opinions of
Probable Cost prepared by Engineer. This Opinion of Probable Construction Cost is limited to those items stated herein and does not
include permit fees, recapture costs, consultant fees landscaping, dewatering, maintenance, bonds or the like.
CONCEPTUAL ENGINEER'S OPINION OF PROBABLE COST
VISTAS AT SADDLEBACK - TOWNHOMES
TOWN OF FIRESTONE, COLORADO
APRIL 2023
ITEM DESCRIPTION QUANTITY
SCHEDULE 1 - EXCAVATION AND GRADING IMPROVEMENTS
UNIT
UNIT PRICE
EXTENSION
1
OverlotGrading
20
ACRE
$35,000.00
$700,000.00
2
Over Excavation
80,000
CY
$6.00
$480,000.00
3
Silt Fence
1,600
LF
$3.00
$4,800.00
4'.
Concrete Washout
1
EACH
$4,500.00
$4,500.00"
5`
Construction Entrance
1
LUMP SUM
$5,000.00`
$5,000.00
TOTAL SCHEDULE I - EXCAVATION AND GRADING IMPROVEMENTS'
$1,194,300.00
SCHEDULE II- UNDERGROUND IMPROVEMENTS
A.
SANITARY SEWER IMPROVEMENTS
1
8" PVC Sanitary Sewer
4,000
LF
$60.00
$240,000.00
2
4' Diameter Manhole
14
EACH
$6,500.00
$91,000.00
3
4" Sanitary Service
120
EACH
$1,800.00
$216,000.00
4
Connection to Existing Manhole
1
EACH
$3,000.00
$3,000.00
SUBTOTAL A - SANITARY SEWER IMPROVEMENTS
$550,000.00
B.
WATER MAIN IMPROVEMENTS
1
8" PVC Water Main
3,600
LF
$70.00
$252,000.00
2`
8" Valve and Box
24
EACH
$2,200.00
$52,800.00
3`
Fire Hydrant with Auxiliary Valve
8
EACH
$6,000 00
$48,000.00
4
Flushing Hydrant
1
EACH
$1,000.00
$1,000.00
5
1" Service Tap
132
EACH
$1,200.00
$158,400.00
6'
Pressure Connection with Valve Box
1
EACH
$6,000.00
$6,000.00'
7
Dry Connection
1
EACH
$2,500.00'
$2,500.00
SUBTOTAL B -WATER MAIN IMPROVEMENTS
$520,700.00°
C.
STORM SEWER IMPROVEMENTS
1
12" HDPE Storm Sewer Pipe
400
LF
$50.00
$20,000.00
2
15" HDPE Storm Sewer Pipe
400
LF'
$55.00
$22,000.00"
3
18" HDPE Storm Sewer Pipe
850
LF
$60.00
$51,000.00
4
24" HOPE Storm Sewer Pipe
200
LF
$70.00;
$14,000.00
5
36" RCP Storm Sewer Pipe
650
LF
$90.00
$58,500.00
6
5' Type R inlet
22
EACH
$9,000.00
$198,000.00
7
Storm Manhole
10
EACH
$5,000.00
$50,000.00
S
Inlet Filter
22
EACH
$400.00
$8,800.00
9
Connection to Existing Structure
1
EACH
$1,600.00
$1,600.00
SUBTOTAL C -STORM SEWER IMPROVEMENTS
$423,900.00
TOTAL SCHEDULE 11 - UNDERGROUND IMPROVEMENTS (A-C)
$1,494,600.00
SCHEDULE III -ON-SITE HARDSCAPE IMPROVEMENTS'
1
Aggregate Base Course
9,600
SY
$18.00;
$172,800.00
2
Subgrade Preparation
15,350
SY
$4.00
$61,400.00
3
Hot -Mix Asphalt
9,600
SY
$44.00
$422,400.00
4
Concrete Curb
6,900
LF
$35.00
$241,500.00
5
PCC Sidewalk w/ Subbase
30,000
SF'
$7.00'
$210,000.00
e
Signage and Striping
1
LS
$25,000.00
$25,000.00
7
Street Lights
8
EA
$15,000.00
$120,000.00
CONCEPTUAL ENGINEER'S OPINION OF PROBABLE COST
VISTAS AT SADDLEBACK - TOWNHOMES
TOWN OF FIRESTONE, COLORADO
APRIL 2023
TOTAL SCHEDULE III -ON-SITE HARDSCAPE IMPROVEMENTS $1,253,100.00
SUBTOTAL SCHEDULES 1-111 $3,942,000.00
CONTINGENCY @25% $985,500.00
TOTAL $4,927,500.00
Prepared By: Manhard Consulting, Ltd.
-
1001 Bannock Street, Suite 107
Denver, Colorado 80204
NOTE: This Engineer's Opinion of Probable Cost is made on the basis of Engineers experience and qualifications using plan quantities
and represents Engineer's best judgment as an experienced: and qualified professional engineer generally familiar with the construction
industry; However, since the Engineer has no control over the cost of labor; materials, equipment or services furnished by others, or
over the Contractor's methods of determining prices, or over competitive bidding or market conditions, or over quantities of work actually
performed; Engineer cannot and does not guarantee that; proposals, bids or actual Construction Cost will not vary from Opinions of
Probable Cost prepared by Engineer. This Opinion of Probable Construction Cost is limited to those items stated herein and does not
include permit fees, recapture costs, consultant fees landscaping, dewatering, maintenance, bonds or the like.
EXHIBIT D-I
List of Regional Improvements
VISTAS AT SADDLEBACK. - REGIONAL IMPROVEMENTS
ENGINEER'S OPINION OF PROBABLE GUST
nhard. TOWN OF FIRESTONE, COLORADO
61712023
ITEM DESCRIPTION QUANTITY UNIT UNIT PRICE. EXTENSION
1 Earthwork (Cut to Fill):. 47.47 ACRE $12 000.00
2 Overexcavation 103800 CY S450
3. Erosion Control 1 EACH $90,000:00
4: Clear and Grub 4T47 :ACRE 5800:00
5 Overlot Grading 47,47 ACRE $8,000.00
SCHEDULE .I-. UNDERGROUND IMPROVEMENTS
A:
SANITARY. SEWER IMPROVEMENTS
1
8" PVC Sanitary Sewer
2300
LF
$90,00
$207,00040
2
Manhole:
10
EACH
$7,500,00
$75,000.00
3:
Manhole -Construct Over Existing Sewer:
1
EACH
$45,000.00
$45,000,00
SUBTOTAL A. - SANITARY SEWER IMPROVEMENTS
$327,000:00
IS,
WATER MAIN IMPROVEMENTS
1
e"Water: Main
1000
LF.
$70,00
$70,000.00
2
8" Valve and Box .
4
EACH
$4,000.00
$16,000,00
3
Fire Hydrant Assembly
5..
EACH
$7,500:00
$37,500,00
d:
Valve Box :Adjustment
4
EACH
$500,00
$2,000.00
5:
Pressure: Connection
1
EACH
$20,000.00
$20,000.00
SUBTOTAL B. - WATER MAIN IMPROVEMENTS
$145,500:00
C;
STORM AND DRAINAGE IMPROVEMENTS
1
15' Storm Sewer Pipe
29
LF
$80.00
$2,320,00
2:
21' Storm Sower Pipe
596
LF
911000
$65,560,00
:3
24' Storm Sewer Pipe
60
LF
$120:00
$7,200 00
4'.
27' Storm Sewer Pipe.
123
LF
S130.00
$15,990,00
:5:
30" Storm Sewer Pipe
311
:LF
$160.00
$49,760,00
6
36' Storm Sewer Pipe
38
LF
$160.00
$6,840 00
7
66" Storm Sewer Pipe:..
331
LF
S200 00
$66,200,00
8
Precast Concrete Flared End Section wtGrate 15"
1
EACH
$2,000,00
$2 000.00
9
Precast Concrete Flared End Section wlGrate 21"
1
EACH
$2;400;00
$2,400.00
10
Precast Concrete Flared End Section wtGrate 24"
1
EACH
$2,800.00
$2,800.00
11
Precast Concrete Flared. End Section wtGrate27"
1
EACH
$3,200.00
$3.,200.00
12
Precast Concrete Flared End Section wtGrate30"
2
EACH
$3,500 00
$7,000,00
13
Precast Concrete Flared. End Section w/Grate:66"
1
EACH
$8.'000:00
$$ 000-00
14
5'Type'R'Inlet:.
8
EACH
$8,900.00
$71,200.00
.15
10' Type:'R`.Intet
4
EACH
$12,500,00
$50,000.00
16
Manhole
5
EACH
$6,084,00
$36,504.00
17
Trickle Channel
:500
LF.
$60,00
$30,000,00
18
Faraday
1
EACH
$25000.00
$25,000:00
19
initial Surcharge Area
1
EACH
$15,000:00
$15,000,00
20
Pond Outlet Structure.
1
EACH
$60,000.00
$60,000::00
21
Culvert Protection
1
EACH
S400.00
$400,00
SUBTOTAL C -STORM AND DRAINAGE IMPROVEMENTS $527,374,00
TOTAL SCHEDULE 11- UNDERGROUND IMPROVEMENTS $999,874.00
SCHEDULE fit ROADWAY IMPROVEMENTS
9
Subgrade'Preparation
51900
BY
$4 00
$207,600,00
2.
Aggregate Base Course - 6.0"
36200 .
Sy
$18.00
$651,600,00
3
Asphalt Concrete Surface -5;0"
36200
BY
$45,00
$1,629,000,00
4
30" Curb & Gutter
10100
LF
$35.00
$353,500.00
5
18"Curb &Gutter
12500
LF
$20.00
$250,00000
8
PCC Sidewalk - 6" with Subbase
55900
SF
S8.00
$447,200.00
7
Signage and Striping
1
LS
$80,000.00
$80,000:00
8.
Street Light
18
EACH
$15,000,00
$270,000,00
9
8' Crasspan
6 :
EACH
$8,000,00
$48,000,00
10
Sawcut
302.95
LF.
$3.50
$1,060:33
11
Concrete Median
67500
SF
$7.00
$472,500,00
12
Pavement. Removal
1000
SY
$15,00
$15,000,00
13
Sanitary Manhole Frame. Adjustment
10
EACH
$500,00
$5,00000
14
Valve Box Adjustment:
1
EACH
$50000
$600,00
15
Storm Sewer Removal
50
LF
$30:00
$1500:00
TOTAL SCHEDULE III -ROADWAY IMPROVEMENTS
$4,432,460.33
TOTAL. SCHEDULE 1411
MOBILIZATION @ 5 k-..
SURVEYING @59%
CONSTRUCTION MANAGEMENTITESTING: @ 12-A
CONTINGENCY @16%
$SS76;810:33
$348,840d52
$348,840.62
$837,217.24
$1,046,621 66
TOTAL. :$9,668;230A6
Prepared By Manhard Consulting Ltd,
7600 E Orchard Read Suite 150-N
Greenwood Village,. Colorado 80111.
EXHIBIT E
Disclosure Notice
Special District Disclosure
ATTENTION HOMEBUYER: You are purchasing a home that is located within Vistas at Saddleback
Metropolitan District Nos. 1-3 (the "Districts"). The Districts have the authority to issue bonds or other debt to
pay for development improvements and levy taxes and fees on all properties within the Districts for debt
repayment and ongoing operations and maintenance.
Name of District:
Vistas at Saddleback Metropolitan District Nos. 1-3
Contact Information for District:
c/o White Bear Ankele Tanaka & Waldron
21.54 E. Commons Ave, Suite 2000
Centennial, CO 80122
District Website:
www.sdaco.com
District Boundaries:
See attached map. It is conceivable that additional boundary
adjustments may be made to include or exclude property from the
Districts. Any such boundary adjustment is subject to prior
approval by the owners of the property and must be considered at
a public hearing of the Districts' Boards of Directors.
Purpose of the District:
The Districts were organized pursuant to C.R.S. § 32-1-101 et
seq. The Districts were created to assist with the planning,
design, acquisition, construction, installation, operation,
maintenance, relocation, and financing of certain public
improvements serving the Vistas at Saddleback project
located in the Town of Firestone, Colorado (the "Town") and
described further in the Districts' Consolidated Service Plan.
The Districts may dedicate certain public improvements to the
Town or other appropriate jurisdiction. The operations and
maintenance of public improvements dedicated to the Town
or other appropriate jurisdiction shall rest with the Town or
other appropriate jurisdiction, as the case may be.
Public improvements not dedicated to the Town or other
appropriate jurisdiction may be owned, operated, and
maintained by the Districts. The Districts have authority to
impose property taxes and other fees, rates, tolls, penalties, or
charges to fund the construction and operation and
maintenance of improvements as set forth in the Consolidated
Service Plan.
A copy of the Districts' Consolidated Service Plan can be
found on the Districts' website or by contacting the Districts
at the Districts' contact information above.
Owners Associations:
Certain services may be provided within the Districts by one or
more property owner associations organized as Colorado nonprofit
organizations. If a property owners association is established,
property owners will be subject to fees and assessments payable to
the association which will be separate from and in addition to any
fees or assessments payable to the Districts.
Authorized Types of District Taxes:
Debt Mill Levy, Operating Mill Levy, and Town O&M Mill
Levy.
These mill levies result in taxes you will owe to the Districts
and are described further below.
Districts' Total Debt Issuance Authorized
$23,000,000
per the Districts' Consolidated Service
Plan:
District Improvements Financed by Debt:
The Districts intend to issue or have already issued debt to pay
for all improvements described in the Districts' Consolidated
Service Plan.
Maximum Debt Mill Levy that may be
Maximum Debt Mill Levy: 55.000 Mills
levied annually on properties within the
Districts to pay back debt:
This Mill Levy may fluctuate based on changes in assessment rates.
At such time as the total amount of aggregate Debt of a district is
equal to or less than fifty percent (50%) of that district's assessed
valuation, either on the date of issuance of any Debt or at any time
thereafter, the mill levy to be imposed to repay such portion of Debt
shall not be subject to the Maximum Debt Mill Levy and, as a result,
the mill levy may be imposed at such a rate as is necessary to pay the
Debt service on such Debt, without limitation of rate increase;
provided, however, that after any conversion to an unlimited mill
levy, the District shall not issue additional Debt that would cause the
aggregate Debt to exceed 50% of that district's then assessed value.
For the purposes of the foregoing, the Board may further provide that
such Debt shall remain secured by such increased mill levy,
notwithstanding any subsequent change in the District's Debt -to -
assessed -value ratio.
Ongoing Operations and Maintenance
The Districts intend to impose an Operations and Maintenance
Services of the Districts:
Mill Levy to pay for ongoing administration, operation, an
maintenance obligations.
Maximum Operating Mill Levy that may be
Maximum Operating Mill Levy: 55 Mills until such time a district
levied annually on properties within the
issues Debt. After that district issues debt, the Maximum Operation
Districts to pay for the ongoing operations
and Maintenance Mill Levy shall be 10 Mills, subject to the Mill
and maintenance described above.
Levy Adjustment.
This Mill Levy may fluctuate based on changes to residential
assessment rates.
The Operating Mill Levy is distinct from the Debt Mill Levy taxes
and cannot be used to repay Debt.
The Maximum Operation and Maintenance Mill Levy shall apply to
the Districts' ability to increase their mill levies as necessary for
provision of operation and maintenance services to their taxpayers
and service users until such time as End Users cast the majority of
affirmative votes taken by a district's Board of Directors at a
meeting authorizing an increase of such Maximum Operation and
Maintenance Mill Levy, at which time the mill levy may be such
amount as is necessary to pay the Operation and Maintenance Cost.
Maximum Town O&M Mill Levy that is
Maximum. Town O&M Mill Levy: 3 mills
required to be levied annually on properties
within the Districts and transferred to the
Town.
District Fees:
The Districts may impose and collect Fees for services, programs,
and facilities furnished by the Districts; may from time to time
increase or decrease such fees; and may use the revenue from such
fees for the repayment of Debt, capital costs, or Operation and
Maintenance costs and for the payment of an indebtedness of the
Districts.
Other Taxing Entities to which you will pay
taxes:
** This information is based upon the
property taxes levied on property within
the Districts imposed in 2023 for collection
in 2024 and is intended only to provide
approximations of the total overlapping
mill levies within the Districts. The stated
mill levies are subject to change, and you
should contact the Weld County Assessor's
office to obtain the most accurate and up to
date information.
Sample Calculation of Taxes Owed for a Residential Property within the Districts:
Assumptions:
Average market value of home in the District is $500,000
Debt Mill Levy is 55 mills
Operating Mill Levy is 10 mills
Town O&M Mill Levy is 3 mills
Total Metropolitan District mill levies = 68 mills
Calculation of Metropolitan District Taxes:
$500,000 x .06765 = $33,825 (Assessed Valuation)
$33,825 x .068 mills = $2,300 per year in taxes
Total Additional Mill Levies from Other Taxing Entities: mills = $ annual taxes
TOTAL [YEAR] PROPERTY TAXES FOR A HOME COSTING $ _ $
VISTAS AT SADDLEBACK
GRAPHIC SCALE METRO DISTRICT
t IN FEET) VICINITY MAP
i inch..= 2000 ft.
U.S. SURVEY FEET'
SADDLEBACK
GOLF COURSE
� NOTE:_
THIS EXHIBIT DOES NOT REPRESENT A MONUMdENTED SURVEY: IN ttiir�(im rlmiir amdb[umm c�m`NkYt�--� ❑GH /.-=
Ri VISTAS AT SADDLEBACK
< METRO DISTRICT VICINITY MAP
Hanhard
TOWN OFPIRESTONE, WELD COUNTY, COLOFL
RROJ MOR.: DJB SHEET
CONSULTINICMKW
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1
EXHIBIT F
Intergovernmental Agreement
INTERGOVERNMENTAL AGREEMENT BETWEEN
THE TOWN OF FIRESTONE, COLORADO AND
VISTAS AT SADDLEBACK METROPOLITAN DISTRICT NOS. 1-3
This INTERGOVERNMENTAL AGREEMENT (the "Agreement") is made and entered into
as of this _day of 2023, by and between the TOWN OF FIRESTONE, a statutory
town organized and existing under the laws of the State of Colorado (the "Town"), and VISTAS AT
SADDLEBACK METROPOLITAN DISTRICT NOS. 1-3, each a quasi -municipal corporation and
political subdivision of the State of Colorado (each a "District" and collectively, the "Districts"). The
Town and the Districts are collectively referred to as the Parties.
WITNESSETH:
WHEREAS, C.R.S. § 29-1-203 authorizes the Parties to cooperate and contract with one
another regarding functions, services, and facilities each is authorized to provide; and
WHEREAS, the Districts were organized to provide those services and to exercise powers as
are more specifically set forth in the Districts' Consolidated Service Plan approved by the Town on
2023 (the "Service Plan"); and
WHEREAS, the Service Plan makes reference to and requires the execution of an
intergovernmental agreement between the Town and the Districts; and
WHEREAS, the Town has approved the preliminary plat for the Property; and
WHEREAS, the Parties have determined that any capitalized term not specifically defined in
this Agreement shall have that meaning as set forth in the Service Plan; and
WHEREAS, the Parties have determined it to be in the best interests of their respective
taxpayers, residents, and property owners to enter into this Agreement to comply with the Service
Plan and to address certain matters related to the organization, powers, and authorities of the Districts.
NOW, THEREFORE, 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:
1. Operations and Maintenance. The Districts shall dedicate the Public Improvements
to the Town or other appropriate jurisdiction or owners association in a manner consistent with the
Approved Development Plan, the Service Plan, this Agreement, and other rules and regulations of
the Town, and applicable provisions of the Town Code. The Districts are authorized, but not
obligated, to own, operate, and maintain Public Improvements not otherwise required to be
dedicated to the Town or other public entity, including but not limited to street improvements
(including roads, curbs, gutters, culverts, sidewalks, bridges, parking facilities, paving, lighting,
grading, landscaping, and other street improvements), traffic and safety controls, retaining walls,
park and recreation improvements and facilities, trails, open space, landscaping, drainage
improvements (including detention and retention ponds, trickle channels, and other drainage
facilities), irrigation system improvements (including wells, pumps, storage facilities, and
distribution facilities), and all necessary equipment and appurtenances incident thereto.
Notwithstanding the foregoing, all parks, trails, and open space not otherwise dedicated to the Town
and owned by the Districts shall be open to the general public free of charge. The Districts may
provide covenant enforcement, design review services, and other services to the residents, owners,
and taxpayers within the Districts pursuant to and in accordance with § 32-1-1004(8) C.R.S. The
Districts may impose a mill levy, Special. Assessments, and/or Fees to pay for Operation and
Maintenance Costs in accordance with the Service Plan.
2. Town O&M Mill Levy. Commensurate with the initial imposition of a debt service
mill levy, the Districts hereby agree that they shall impose the Town O&M Mill Levy. The Districts'
obligation to impose and collect the revenues from the Town O&M Mill Levy shall begin when the
Districts first impose a debt service mill levy and shall not be required to be imposed prior to such
date. Revenues generated by the Town O&M Mill Levy and the Districts' obligation to remit said
revenues to the Town on an annual basis, as required by the Service Plan and this Agreement, shall
not be included within or subject to the Total Debt Limit. The Town O&M Mill Levy shall be
separate and apart from the Maximum Debt Mill Levy and the Maximum Operation and Maintenance
Mill Levy.
3. Maximum Debt Mill Levy. The Maximum Debt Mill Levy, which shall be subject to
a Mill Levy Adjustment, is the maximum mill levy the Districts are permitted to impose upon the
taxable property within the Districts for payment of Debt. The Maximum Debt Mill Levy for each
District shall be fifty-five (55) mills, subject to a Mill Levy Adjustment, for so long as the total
amount of aggregate Debt of a District imposing its Maximum Debt Mill Levy, combined with the
Debt of any District that is pledging its Maximum Debt Mill Levy to the same debt service
obligations, exceeds fifty percent (50%) of the combined assessed valuation of the particular
Districts. It is anticipated that the Districts will undertake the planning, design, acquisition,
construction, installation, development, and financing of certain Regional Improvements as
described in Exhibit D-1 of the Service Plan and required by an Approved Development Plan for the
Project, and any additional regional improvements the Districts agree to address. It is expected that
prior to financing and construction of the Regional Improvements, the Town and the developer of
the Project will enter into an agreement whereby the parties agree to share the costs of the Regional
Improvements. However, if such agreement is not reached, the Maximum Debt Mill Levy the
Districts are permitted to impose for the payment of Debt may be increased to fifty-five (55) mills,
subject to a Mill Levy Adjustment.
At such time as the total amount of aggregate Debt of a District imposing its Maximum Debt
Mill Levy, combined with the Debt of any District that is pledging its Maximum Debt Mill Levy to
the same debt service obligations, is equal to or less than fifty percent (50%) of the Districts' assessed
valuation, either on the date of issuance of any Debt or at any time thereafter, the mill levy to be
imposed to repay such portion of Debt shall not be subject to the Maximum Debt Mill Levy and, as
a result, the mill levy may be imposed at such a rate as is necessary to pay the Debt service on such
Debt, without limitation of rate increase; provided, however, that after any conversion to an unlimited
mill levy, the Districts shall not issue additional Debt that would cause the aggregate Debt to exceed
50% of the Districts' then -assessed value. For the purposes of the foregoing, the Boards may further
provide that such Debt shall remain secured by such increased mill levy, notwithstanding any
subsequent change in the Districts' Debt to assessed value ratio.
4. Fire Protection. The Districts shall not be authorized to plan for, design, acquire,
construct, install, relocate, redevelop, finance, operate, or maintain fire protection facilities or
services, unless specifically provided for pursuant to an intergovernmental agreement with the Town
and the Firestone Fire Protection District. This provision shall not limit the Districts' authority to
plan for, design, acquire, construct, install, relocate, redevelop, or finance fire hydrants and related
improvements installed as part of the water system.
5. Television Relay and Translation, Mosquito Control, and Other Limitations. The
Districts shall not be authorized to plan for, design, acquire, construct, install, relocate, redevelop,
finance, operate, maintain, or provide: (a) any television relay and translation facilities and services,
other than for the installation of conduit as a part of astreet construction project; (b) any mosquito
control facilities and services; and (c) any solid waste disposal, collection, and transportation
facilities and services, unless specifically provided for in a separate agreement with the Town.
6. Construction Standards. The Districts will ensure that the Public Improvements
constructed by the Districts are designed and constructed in accordance with the standards and
specifications of the Town and of federal and state governmental entities having proper jurisdiction.
The Districts will obtain the Town's approval of civil engineering plans and will obtain
applicable permits for construction and installation of Public Improvements prior to performing
such work.
7. Issuance of Privately Placed Debt. Prior to the issuance of any privately placed Debt,
the Districts shall obtain the certification of an External Financial Advisor substantially as follows:
We are [I am] an External Financial Advisor within the meaning of
the Districts' Service Plan.
We [I] certify that (1) the net effective interest rate (calculated as
defined in Section 32-1-103(12), C.R.S.) to be borne by the Districts
for the [insert the designation of the Debt] does not exceed a market
[tax-exempt] [taxable] interest rate, using criteria deemed appropriate
by us [me] and based upon our [my] analysis of comparable high
yield securities; and (2) the structure of [insert designation of the
Debt], including maturities and early redemption provisions, is
reasonable considering the financial circumstances ofthe Districts.
8. Inclusion and Exclusion. From time to time, it may be necessary for the Districts to
adjust their respective boundaries and each District may process inclusions of property without
providing notice to the Town as long as such property being included is within the Initial
Boundaries. Without prior written notice to the Town, the Districts shall not include into their
boundaries any property outside of the Initial Boundaries. No property will be included within the
Districts at any time unless such property has been annexed into the Town's corporate limits. The
Districts may exclude from their boundaries any property within the District Boundaries. Any
exclusion of property located outside of the Initial Boundaries shall require prior written notice to
the Town. The Districts shall not exclude from their boundaries property upon which a Debt mill
levy has been imposed for the purpose of the inclusion of such property into another district that
has been or will be formed under the Special District Act, without the prior written consent of the
Town, as evidenced by resolution of the Town Board of Trustees.
9. Total Debt Issuance. The Districts shall not issue Debt in excess of $23,000,000.
The debt issuance limitation shall not be applicable to refunding or refinancing of Debt authorized
to be issued pursuant to the Service Plan unless the principal amount of the refunding bonds exceed
the principal amount originally issued, in which case the difference shall count against the Total
Debt Limit. At no time during their existence may the Districts have Debt outstanding in excess of
the Total Debt Limit.
10. Monies from Other Governmental Sources. The Districts shall not apply for or accept
Conservation Trust Funds, Great Outdoors Colorado Funds, or other funds available from or
through governmental or non-profit entities that the Town is eligible to apply for, except as may be
specifically provided for herein. This Section shall not apply to specific ownership taxes, which
shall be distributed to and constitute a revenue source for the Districts without any Limitation.
11. Fees. The Districts may impose and collect Fees for services, programs, or facilities
furnished by the Districts, and may from time to time increase or decrease such fees, and may use
the revenue from such fees for the repayment of Debt, capital costs, or Operation and Maintenance
Costs and for the payment of any indebtedness of the Districts.
12. Consolidation; Dissolution. The Districts shall not file a request with any Court to
consolidate with another Title 32 district without the prior written consent of the Town, as evidenced
by resolution of the Town Board of Trustees. The Districts agree that they shall take all action
necessary to dissolve the Districts in accordance with the provisions of the Service Plan and
applicable state statutes.
13. Service Plan Amendment Requirement. Any action of the Districts which violates
the limitations set forth in Sections V.A.1-24 or VI.B-H of the Service Plan, or which constitutes a
material modification under the Town Code, shall be deemed to be a material modification to the
Service Plan and the Town shall be entitled to all remedies available under State and local law to
enjoin any such action(s) of the Districts. The Town may also seek damages for breach of this
Agreement arising from violations by the Districts of any provision of the Service Plan.
14. Applicable Laws. The Districts acknowledge that the property within their
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, and related plans.
15. Annual Report. The Districts shall submit an annual report ("Annual Report") to the
Town no later than April 30th of each year following the year in which the Order and Decree creating
the Districts has been issued, containing the information set forth in Section VII of the Service Plan.
16. Notices. All notices, certificates, or other communications hereunder shall be
sufficiently given and shall be deemed given when given by hand delivery, overnight delivery,
mailed by certified or registered mail, postage prepaid, delivered electronically (if confirmed
promptly telephonically), or dispatched by telegram or telecopy (if confinned promptly
telephonically), addressed to the following address or at such other address or addresses as any party
hereto shall designate in writing to the other party hereto:
To Town: Town of Firestone
151 Grant Ave.
Firestone, Colorado 80102
Attention: Town Manager
To Districts: Vistas at Saddleback Metropolitan District Nos. 1-3
c/o White Bear Ankele Tanaka & Waldron
2154 E. Commons Avenue, Suite 2000
Centennial, CO 801.22
Attention: Blair Dickhoner
bdickhoner@wbapc.com
All notices, demands, requests, or other communications shall be effective upon such
personal delivery or one (1) business day after being deposited with Federal Express or other
nationally recognized overnight air courier service or three (3) business days after deposit in the
United States mail. By giving the other party hereto at least ten (10) days' written notice thereof in
accordance with the provisions hereof, each of the Parties shall have the right from time to time to
change its address.
17. Miscellaneous.
a. Effective Date. This Agreement shall be in full force and effect and be legally binding
upon final approval of the governing bodies of the Parties.
b. Non -assignability. No party to this Agreement may assign any interest therein to any
person without the consent of the other party hereto at that time, and the terms
of this Agreement shall inure to the benefit of and be binding upon the respective
representatives and successors of each party hereto.
c. Amendments. This Agreement may be amended from time to time by written
amendment, duly authorized and signed by representatives of the Parties hereto.
d. Severability. If any section, subsection, paragraph, clause, phrase, or other provision
of this Agreement shall for any reason be held to be invalid or unenforceable, the
invalidity or unenforceability of such section, subsection, paragraph, clause, phase,
or other provision shall not affect any of the remaining provisions of this Agreement.
e. Execution of Documents. This Agreement may be executed in two (2) counterparts,
either of which shall be regarded for all purposes as one original.
f. Waiver. No waiver by either party of any term or condition of this Agreement shall
be deemed or construed as a waiver of any other term or condition, nor shall a
waiver of any breach be deemed to constitute a waiver of any subsequent breach,
whether of the same or of a different provision of this Agreement.
g. Default/Remedies. In the event of a breach or default of this Agreement by any party,
the non -defaulting party shall be entitled to exercise all remedies available at law or
in equity, specifically including suits for specific performance and/or monetary
damages. In the event of any proceeding to enforce the terms, covenants, or
conditions hereof, the prevailing party in such proceeding shall be entitled to obtain
as part of its judgment or award its reasonable attorneys' fees.
h. Governing Law and Venue. This Agreement shall be governed and construed under
the laws of the State of Colorado. Venue for all actions brought hereunder shall be
in the District Court in and for Weld County.
i. Inurement. Each of the terms, covenants, and conditions hereof shall be binding upon
and inure to the benefit of the Parties hereto and their respective successors and
assigns.
j. Paragraph Headings. Paragraph headings are inserted for convenience of reference
only.
k. No Third -party Beneficiaries. No person or entity who or which is not a party to this
Agreement will have any right of action under this Agreement.
1. Entirety. This Agreement merges and supersedes all prior negotiations,
representations, and agreements between the Parties hereto relating to the subject
matter hereof and this Agreement, which agreement serves to supplement the Service
Plan and, along with the Service Plan, constitutes the entire agreement between the
Parties concerning the subject matter hereof. Any previous intergovernmental
agreements between the Parties concerning the subject matter hereof are superseded
by this Agreement.
Remainder of page intentionally left blank; signature page follows
IN WITNESS MILRE"OF, this Agreement is executedby the Town n the Districts as of
the date first above written.
TOWN 01: FIRES"' ONE, COLORADO
Drew eterson, Mayor
VISTAS AT SADDLEBACK
METROPOLITAN DISTRICT NOS. 1-3
y--
President
By:
Secretary
CERTIFICATE CONCERNING NOTICES OF PUBLIC HEARING ON
CONSOLIDATED SERVICE PLAN
IN RE THE ORGANIZATION OF VISTAS AT SADDLEBACK METROPOLITAN
DISTRICT NOS. 1-3, TOWN OF FIRESTONE, STATE OF COLORADO
I, Emilee D. Hansen, a paralegal at the law firm of White Bear Ankele Tanaka & Waldron
Professional Corporation, acting on behalf of Vistas at Saddleback, LLC (the "Petitioners") for
the Vistas at Saddleback Metropolitan District Nos. 1-3 (the "Districts"), do hereby certify as
follows:
1. That the Board of Trustees of the Town of Firestone (the "Board of Trustees") set a
public hearing for August 23, 2023 at 6:30 p.m. at 9900 Park Avenue, Firestone,
Colorado 80504 (the "Hearing"), for the purpose of considering the Consolidated Service
Plan (the "Service Plan") for the Districts and to form a basis for adopting a resolution
approving, conditionally approving or disapproving the Service Plan;
2. That, pursuant to § 32-1-204(1), C.R.S., the Notice of Public Hearing on Consolidated
Service Plan, a copy of which is attached hereto as Exhibit A and incorporated herein by
this reference, was provided by U.S. mail on August 2, 2023, to the Petitioners and to the
governing body of any existing municipality or special district that has levied an ad
valorem tax within the next preceding tax year and that has boundaries within a radius of
three miles of the proposed Districts' boundaries, as set forth on the list attached hereto as
Exhibit B and incorporated herein by this reference;
3. That, pursuant to § 32-1-204(1), C.R.S., the Notice of Public Hearing on Consolidated
Service Plan, a copy of which is attached hereto as Exhibit A and incorporated herein by
this reference, was published on August 2 2023, in the Longmont Times -Call. A copy of
the Affidavit of Publication of Notice of Public Hearing on Consolidated Service Plan is
attached hereto as Exhibit C and incorporated herein by this reference;
4. That, pursuant to § 32-1-204(1.5), C.R.S., the Notice of Public Hearing on Consolidated
Service Plan, a copy of which is attached hereto as Exhibit A and incorporated herein by
this reference, was sent by U.S. mail on August 2, 2023 (which date is no more than
thirty days nor less than twenty days prior to the Hearing), to the property owners within
the proposed Districts as listed on the records of the County Assessor, as set forth on the
list attached hereto as Exhibit B and incorporated herein by this reference; and
5. That, pursuant to § 32-1-202(1)(a), C.R.S., the Notice of Public Hearing on Consolidated
Service Plan, a copy of which is attached hereto as Exhibit A and incorporated herein by
this reference, was provided by U.S. mail on August 2, 2023 to the Division of Local
Government.
2568.0003;#1333142v2
Signed this 17th day of August, 2023.
By:
Emil D. Hansen
2568.0003;#1333142v2
EXHIBIT A
TO CERTIFICATE OF MAILING AND PUBLICATION OF
NOTICE OF PUBLIC HEARING ON CONSOLIDATED SERVICE PLAN
(Notice of Public Hearing on Consolidated Service Plan)
#1333142v2
NOTICE OF PUBLIC HEARING ON CONSOLIDATED SERVICE PLAN
IN RE THE ORGANIZATION OF VISTAS AT SADDLEBACK METROPOLITAN DISTRICT
NOS. 1-3, TOWN OF FIRESTONE, STATE OF COLORADO
NOTICE IS HEREBY GIVEN that a Consolidated Service Plan (the "Service Plan") for the
proposed Vistas at Saddleback Metropolitan District Nos. 1-3 (each a "District") has been filed with
the Town of Firestone Town Clerk.
Pursuant to § 32-1-204.5, C.R.S., a public hearing on the Service Plan will be held by the Board of
Trustees of the Town of Firestone (the "Board of Trustees") on August 23, 2023, at 6:30 p.m., at
9900 Park Avenue, Firestone, Colorado 80504, or as soon thereafter as the Board of Trustees may
hear such matter.
The purpose of the hearing is to consider the Service Plan and to form a basis for adopting a
resolution approving, conditionally approving or disapproving the Service Plan.
A general description of the land contained within the boundaries of each proposed District is as
follows: a parcel of land located west of Weld County Road 15 (Frontier Street), east of Colorado
Blvd., north of Weld County Road 18 (Grant Avenue), and south of Weld County Road 20.
BY ORDER OF THE BOARD OF
TRUSTEES OF THE TOWN OF FIRESTONE
Published In: Longmont Times Call
Published On: August 2, 2023
2568.0003; #1331524v1
EXHIBIT B
TO CERTIFICATE OF MAILING AND PUBLICATION OF
NOTICE OF PUBLIC HEARING ON CONSOLIDATED SERVICE PLAN
(Mailing List)
#1333142v2
3-MILE RADIUS & OVERLAPPING ENTITIES
AIMS JUNIOR COLLEGE
PO BOX 69
GREELEY, CO 80632
BIGHORN URBAN RENEWAL AUTHORITY
PO BOX 100
C/O TOWN OF FIRESTONE
FIRESTONE, CO 80520
CARBON VALLEY PARK & REC
701 FIFTH STREET
FREDERICK, CO 80530
CARRIAGE HILLS METRO DISTRICT
2619 CANTON COURT, SUITE A
C/O CENTENNIAL CONSULTING GROUP, LLC
FORT COLLINS, CO 80525
CENTRAL COLORADO WATER (CCW)
3209 WEST 28TH STREET
GREELEY, CO 80634
CENTRAL COLORADO WATER SUBDISTRICT (CCS)
3209 WEST 28TH STREET
GREELEY, CO 80634
CENTRAL FIRESTONE URA (CFURA)
9950 PARK AVENUE
FIRESTONE, CO 80504
CENTRAL WELD COUNTY WATER (CWC)
2235 SECOND AVENUE
GREELEY, CO 80631
CLEARVIEW VILLAGES METRO DISTRICT
1700 LINCOLN STREET, SUITE 2000
C/O SPENCER FANS LLP
DENVER, CO 80203
COTTONWOOD HOLLOW COMMERCIAL METRO
2154 EAST COMMONS AVENUE, SUITE 2000
C/O WHITE BEAR ANKELE TANAKA & WALDRON
CENTENNIAL, CO 80122
COTTONWOOD HOLLOW RESIDENTIAL METRO
2154 EAST COMMONS AVENUE, SUITE 2000
C/O WHITE BEAR ANKELE TANAKA & WALDRON
CENTENNIAL, CO 80122
DACONO II URBAN RENEWAL AUTHORITY
512 CHERRY AVENUE
DACONO, CO 80514
TOWN OF DACONO
512 CHERRY AVENUE
DACONO, CO 80514
DACONO URBAN RENEWAL AUTHORITY
512 CHERRY AVENUE
DACONO, CO 80514
DENMORE METROPOLITAN DISTRICT NOS. 1-5
2154 EAST COMMONS AVENUE, SUITE 2000
C/O WHITE BEAR ANKELE TANAKA & WALDRON
CENTENNIAL, CO 80122
EAGLE BUSINESS PARK URBAN RENEWAL AUTHORITY
401 LOCUST ST.
FREDERICK, CO 80530
TOWN OF FIRESTONE
PO BOX 100
FIRESTONE, CO 80520
CITY OF FORT LUPTON
130 S. MCKINLEY AVE.
FORT LUPTON, CO 80621
FORT LUPTON FIRE
1121 DENVER AVENUE
FORT LUPTON, CO 80621
FREDERICK METRO DISTRICT
PO BOX 435
FREDERICK, CO 80530
TOWN OF FREDERICK
PO BOX 435
FREDERICK, CO 80530
FREDERICK-FIRESTONE FIRE
P.O. BOX 129
FREDERICK, CO 80530
GATEWAY TO FREDERICK MD NOS. 1-6
2154 EAST COMMONS AVENUE, SUITE 2000
C/O WHITE BEAR ANKELE TANAKA & WALDRON
CENTENNIAL, CO 80122
GODDING HOLLOW METRO DISTRICT
MCGEADY BECHER P.C.
450 E. 17TH AVE., SUITE 400
DENVER, CO 80203-1214
GREENS METRO DISTRICT
9227 E LINCOLN AVENUE, STE 200
C/O FROMM & COMPANY, LLC
LONE TREE, CO 80124
Q
#1333185v1
HIDDEN CREEK METRO DISTRICT
390 E CRESCENT PARKWAY, STE 300
C/O CLIFTONLARSONALLEN LLP
GREENWOOD VILLAGE, CO 80111
HIGH PLAINS LIBRARY
2650 W. 29TH STREET
GREELEY, CO 80631
HOMESTEAD RANCH METRO DISTRICT 4
1700 LINCOLN STREET, SUITE 2000
C/O SPENCER FANS, LLP
DENVER, CO 80203-4554
LEFT HAND WATER
6800 NIMBUS ROAD
LONGMONT, CO 80503
LONGMONT CONSERVATION
9595 NELSON ROAD
BOX D
LONGMONT, CO 80501
MAPLE RIDGE METRO DISTRICT
7400 EAST ORCHARD ROAD, SUITE 3300
C/O SETER & VANDER WALL, P.C.
GREENWOOD VILLAGE, CO 80111
MARKETPLACE METRO DISTRICT
2619 CANTON COURT, SUITE A
C/O CENTENNIAL CONSULTING GROUP, LLC
FORT COLLINS, CO 80525
MEADOWLARK BUSINESS PARK URBAN RENEWAL (MLURA)
401 LOCUST ST.
FREDERICK, CO 80530
MESA RIDGE METRO DISTRICT
4725 SOUTH MONACO STREET, SUITE 360
C/O ICENOGLE SEAVER POGUE, P.C.
DENVER, CO 80237
MINERS PARK METROPOLITAN DISTRICT NOS. 1 & 2
2154 EAST COMMONS AVENUE, SUITE 2000
C/O WHITE BEAR ANKELE TANAKA & WALDRON, P.C.
CENTENNIAL, CO 80122-1880
MINER'S VILLAGE URBAN RENEWAL (MVURA)
401 LOCUST ST.
FREDERICK, CO 80530
MOUNTAIN SHADOWS METRO DISTRICT
2154 EAST COMMONS AVENUE, SUITE 2000
C/O WHITE BEAR ANKELE TANAKA & WALDRON
CENTENNIAL, CO 80122
3
#1333185v1
MOUNTAIN VIEW FIRE PROTECTION DISTRICT
3561 N STAGECOACH ROAD
LONGMONT, CO 80504
NEIGHBORS POINT METRO DISTRICT
2154 EAST COMMONS AVENUE, SUITE 2000
C/O WHITE BEAR ANKELE TANAKA & WALDRON
CENTENNIAL, CO 80122
NORTHERN COLORADO WATER (NCW)
220 WATER AVENUE
BERTHOUD, CO 80513-9245
NORTHERN FIRESTONE URBAN RENEWAL (NFURA)
9950 PARK AVENUE
FIRESTONE, CO 80504
NP125 METRO DISTRICT
1700 LINCOLN STREET, STE 2000
C/O SPENCER FANS LLP
DENVER, CO 80203-4554
PINNACLE FARMS METRO DISTRICT
1700 LINCOLN STREET, STE 2000
C/O SPENCER FANE, LLP
DENVER, CO 80203
PLATTE VALLEY CONSERVATION
57 W BROMLEY LAND
BRIGHTON, CO 80601
PLATTEVILLE-GILCREST FIRE
PO BOX 407
PLATTEVILLE, CO 80651-0407
PROSPERITY METRO DISTRICT
7400 EAST ORCHARD ROAD, SUITE 3300
C/O SETER & VANDER WALL, P.C.
GREENWOOD VILLAGE, CO 80111
RIDGE LANDS METRO DISTRICT
4725 SOUTH MONACO STREET, SUITE 360
C/O ICENOGLE SEAVER POGUE, P.C.
DENVER, CO 80237
SCHOOL DIST RE1-GILCREST
14827 W.C.R.42
GILCREST, CO 80623
SCHOOL DIST RE1J-LONGMONT
395 SOUTH PRATT PARKWAY
LONGMONT, CO 80501
SCHOOL DIST RE8-FORT LUPTON
200 S. FULTON AVENUE
FORT LUPTON, CO 80621
0
#1333185v1
SILVERSTONE METRO DISTRICT NOS. 1-3
2154 EAST COMMONS AVENUE, SUITE 2000
C/O WHITE BEAR ANKELE TANAKA & WALDRON
CENTENNIAL, CO 80122
SKYVIEW MEADOWS METRO DISTRICT
2154 EAST COMMONS AVENUE, SUITE 2000
C/O WHITE BEAR ANKELE TANAKA & WALDRON
CENTENNIAL, CO 80122
SOUTHERN FIRESTONE URBAN RENEWAL (SFURA)
9950 PARK AVENUE
FIRESTONE, CO 80504
SPRINGS METRO DISTRICT
1641 CALIFORNIA STREET, SUITE 300
C/O MILLER & ASSOCIATES
DENVER, CO 80202
SPRINGS SOUTH METRO DISTRICT
1641 CALIFORNIA STREET, SUITE 300
C/O MILLER & ASSOCIATES
DENVER, CO 80202
ST VRAIN & LEFT HAND WATER (SVW)
1715 IRON HORSE DRIVE #250
LONGMONT, CO 80501
ST VRAIN SANITATION
11307 BUSINESS PARK CIRCLE
FIRESTONE, CO 80504
STONERIDGE METRO DISTRICT
7995 E PRENTICE AVENUE, STE 103E
C/O COMMUNITY RESOURCE SERVICES OF COLORADO, LLC
GREENWOOD VILLAGE, CO 80111
VILLAGE EAST COMMUNITY METRO DISTRICT
2619 CANTON COURT, SUITE A
C/O CENTENNIAL CONSULTING GROUP, LLC
FORT COLLINS, CO 80525
WELD COUNTY
BOARD OF COUNTY COMMISSIONERS
1150 O STREET
PO BOX 758
GREELEY, CO 80631
WESTVIEW METRO DISTRICT
2154 E COMMONS AVENUE, STE 2000
C/O WHITE BEAR ANKELE TANAKA & WALDRON
CENTENNIAL, CO 80122
5
#1333185v1
WILDFLOWER METRO DISTRICT NO. 2
200 W HAMPDEN AVENUE, STE 201
C/O VINTAGE HOMES AND LAND LLC
ENGLEWOOD, CO 80110-2407
DIVISION OF LOCAL GOVERNMENT
1313 SHERMAN ST, STE 521
DENVER, CO 80203
PETITIONERS)/PROPERTY OWNER(S)
VISTAS AT SADDLEBACK, LLC
1732 CRESTVIEW DR.
DURANGO, CO 81301
on
#1333185v1
EXHIBIT C
TO CERTIFICATE OF MAILING AND PUBLICATION OF
NOTICE OF PUBLIC HEARING ON CONSOLIDATED SERVICE PLAN
(Affidavit of Publication of Notice of Public Hearing on Consolidated Service Plan)
#1333142v2
Of PRINLIC ML4MNG 0#4 CONSOLIDATED SERVIDE PLAN
IN RE THE ORGANIZATION Of. VISTAS AT SADDLEBACK MET POLI.
TAN DISTRICT N(#S, 1.3„ TOWN OF FIRESTONE, STATE. Of COLORA,.
DO
NOTICE. IS HERVI Y GIVEN that a Consolidated Service Plan line r r Moun in Media;. �,.�. C
"Service Dian") for the pr a o"d Vistas at Saddona ck Metropretan
i
District Nos. 1.3 (each a " istrist") has turen flied with tire T*Wn of
Firestone Town Clerk.
PUBLISHER'S
Purl t to 32•1-204,15, C.R.S.: a poblo: h aring ran the vice Pla AFFIDAVIT
.
swill be held ry The Santa of Trustees of the Town at Firestone tthe
'Board of Trustees') on August 23„ 2023, at 6.30 lcm, at 9900 Park County of Souldiar
Avenue„ Firestone. Goatorado 80504, or Its saran thereafter as the
Board of Trustees may hear such matter, State of Colorado
The barriers of the hearing is to conskier the Service Phan, and to
farm a basis for adopter a resolution approving, conditionally ap-
proving or disapproving t e Service lean.
A general descriishon of the land contained within the boundaries.
of each rcd�r secs tsrstrrct i5 as follows: a el of land located The undersigned, nt _. their first duty Award
west of Vnid Ceoua Y Road 1 (frontier Street), east of Colorado
Blvi., r mrit vat Wets cu ty Raad aE tur : Avcouo), asd snvrh under oath, states and affirms as followers,
l ekt$ Couety Road 20
BY ORDER OF THE BOARD Of TRUSTEES OF THE OWN OF FIRE- 1, He/she Is the legal Advertising; Reviewer of
STONE
Putaishere Longmont Times Cate aAsrgust 2, 2023.1993437 Prairie Mountain Media LLC, publisher of the
Longmont Ties Call.
2, the Longmont Times Call Is newspaper
of general circulation that has been published
continuously and without interruption for at least
fifiy-tads weeks In Boulder County and
triesis the legal requisites for a legal newspaper
under Cc Ter. lgev. Stift, 24-70.103,
3, The notice that Is attached hereto is a true copy,
published In the Longmont Times Cadd
in Boulder County on the following date(s)
Ann 12023
i
Sigstalure
Sudssri and sw to me before rrse this
Qndday of
utarg Public
r-
SHAYLA NAJEAA
NOTARYLI
STATE
(SEAL� NOTARY ID 20174031965
Account: 1061175
Ad N rrrtser; 1993437
Fee: 1129,811