HomeMy WebLinkAbout14696RESOLUTION NO. 14696
A RESOLUTION APPROVING THE SERVICE PLAN FOR PIKES
PEAK PARK METROPOLITAN DISTRICT NOS. 1-5
WHEREAS, the Service Plan for Pikes Peak Park Metropolitan District Nos. 1-5 was filed
with the City Clerk (the “City Clerk”) of the City of Pueblo, a Colorado Municipal Corporation (the
“City”), pursuant to Sections 32-1-204.5, C.R.S.; and,
WHEREAS, the City Council of the City (the” Council”) held a public hearing on said
Service Plan on September 13, 2021; and,
WHEREAS, notice of said public hearing was duly published in the “Pueblo Chieftain,” a
newspaper of general circulation within the boundaries of the District, on August 24, 2021; and,
WHEREAS, the Council has considered the Service Plan in reference to the information
and criteria required and set forth in Section 32-1-202(2) and Section 32-1-203(2), C.R.S., and in
light of testimony and other evidence presented to it at said public hearing; and,
WHEREAS, the Council hereby finds that the Service Plan should be approved as
provided herein, pursuant to Section 32-1204.5, C.R.S; NOW, THEREFORE,
BE IT RESOLVED BY THE CITY COUNCIL OF PUEBLO, that:
SECTION 1.
The information contained within the Service Plan for the Pikes Peak Park Metropolitan
District Nos. 1-5 satisfies the requirements of Section 32-1-202(2), C.R.S.
SECTION 2.
Evidence satisfactory to the Council of each of the following was presented, as provided
in Section 32-1-203(2), C.R.S.:
a. There is sufficient existing and projected need for organized service in the area to
be served by the proposed Districts; and
b. The existing services in the areas to be served by the proposed Districts are
inadequate for present and projected needs; and
c. The Districts are capable of providing economical and sufficient services to the
areas within its proposed boundaries; and
d. The areas to be included in the Districts does have, and will have, the financial
ability to discharge the proposed indebtedness on a reasonable basis.
SECTION 3.
The requirements of Section 32-1-204.5, C.R.S., and of the applicable provisions of the
Pueblo Municipal Code, if any, relating to the contents and standards for approval of the Service
Plan, have been fulfilled.
SECTION 4.
The Council hereby approves and authorizes the attachment of this Resolution to the
Petition for organization of the Districts in accordance with Section 32-1-205, C.R.S. and Section
32-1-301, C.R.S.
SECTION 5.
The officers and staff of the City are authorized to perform any and all acts consistent with
the intent of the Resolution to implement the policies and procedures described herein.
SECTION 6.
This Resolution shall become effective immediately upon final passage and approval.
INTRODUCED September 13, 2021
BY: Robert Schilling
MEMBER OF CITY COUNCIL
APPROVED:
PRESIDENT OF CITY COUNCIL
ATTESTED BY:
CITY CLERK
City Clerk’s Office Item # J-4
BACKGROUND PAPER FOR PROPOSED
RESOLUTION
COUNCIL MEETING DATE: September 13, 2021
TO: President Lawrence W. Atencio and Members of City Council
CC: Nicholas A. Gradisar, Mayor
VIA: Marisa Stoller, City Clerk
FROM: Scott Hobson, Acting Director of Planning and Community Development
SUBJECT: A RESOLUTION APPROVING THE SERVICE PLAN FOR PIKES PEAK PARK
METROPOLITAN DISTRICT NOS. 1-5
SUMMARY:
The property owner who is the proponent for the creation of the Pikes Peak Park Metropolitan
Districts Nos.1-5 established under Title 32 of the Colorado Revised Statutes has submitted a
Service Plan to the City for the proposed districts. The area where the districts would be
established totals approximately 74 acres, with the eastern 40-acre area being annexed into the
City of Pueblo on August 23, 1965, by Ordinance No. 2986. The western 34-acre area was
annexed into the City of Pueblo on July 9, 1973, by Ordinance No. 3720. A future inclusion area
within city limits, totaling approximately 9.24 acres, is also included in the service plan. A master
plan for the property was approved as the Foothills Park Master Plan by the City’s Planning and
Zoning Commission on September 10, 1975. The Foothills Subdivision, A Special Area Plan was
recorded on September 11, 2000. In accordance with the requirements of Title 32, Section 32-1-
204.5, C.R.S., the City Council is required to approve the Service Plan of the districts prior to
proceeding with the remaining steps to form the district under state statutes.
PREVIOUS COUNCIL ACTION:
None.
BACKGROUND:
City Council’s approval of the Service Plan for the Pikes Peak Park Metropolitan Districts Nos. 1-
5 (“Service Plan”) is the initial step in creating a metropolitan district under Title 32 of the Colorado
Revised Statutes. The proposed metropolitan districts are contained within the area that is north
th
of West 24 Street and east of Pueblo Boulevard (SH45). The Service Plan encompasses the
areas of the five metropolitan districts that coincides with the boundary of the Foothills
Subdivision, A Special Area Plan. The Service Plan allows for the financing, construction,
operation and maintenance of the facilities and improvements described within the service area.
The metropolitan districts are proposed to be formed as separate distinct legal entities from the
City with their own elected boards of directors under the Colorado Special District Act. The districts
will have the authority, subject to voter approval, to impose mill levies on properties in the districts
for the specific purposes, including the operation of the district’s authorized services and debt
payments, as described in the Service Plan. The proposed metropolitan districts may not deviate
in a material manner from the requirements of the Service Plan.
The Service Plan consists of a financial analysis and general engineering plans showing how
proposed facilities and services will be provided and financed. The approval of the Service Plan
by City Council does not imply any approval by the City of any development or improvement plan
that is utilized or described in the Service Plan.
Pikes Peak Park District Nos. 1-5 will be organized to finance, construct, own, manage and
operate the public improvements throughout the development areas. The Coordinating District
will be responsible for managing the construction and operation of the public facilities and
improvements within the development areas, and for providing funding to support costs related to
the necessary services and improvements. The Financing Districts (District No. 2, District No. 3,
District No. 4, and District No. 5) will be responsible for financing their respective share of the
improvements and associated operations and maintenance costs.
The area proposed to be included within the boundaries of District No. 1, the Coordinating District,
will initially contain approximately 0.34 acres. The area proposed to be included within the
boundaries of District No. 2, a Financing District, will initially contain approximately 28.61 acres.
The area proposed to be included within the boundaries of District No. 3, a Financing District, will
initially contain approximately 29.69 acres. The area proposed to be included within the
boundaries of District No. 4, a Financing District, will initially contain approximately 5.79 acres.
The area proposed to be included within the boundaries of District No. 5, a Financing District, will
initially contain approximately 4.63 acres. The Service Plan allows for the boundaries of districts
to be adjusted from time to time in accordance with the provisions of the Service Plan.
The Service Plan allows for the design, acquisition, construction, installation and financing of
certain water, sanitation, street, safety protection, park and recreation, transportation, mosquito
control, security, covenant enforcement, and fire protection improvements and services within
and without the Coordinating District’s boundaries. The City is not obligated to own, operate, or
maintain any of the improvements provided by the districts. Although any of the improvements
that will ultimately be accepted by the City will be required to be designed and constructed in
compliance with City Standards and provisions of the Municipal Code. Those improvements not
dedicated to City for ownership, operation, and maintenance may be owned, operated, and
maintained by the districts or other appropriate entities.
To finance both the on-site and off-site improvements, the Financial Plan provides for a maximum
mill levy the Districts may impose for the payment of principal of and interest on Debt at sixty (60)
mills.
FINANCIAL IMPLICATIONS:
The approval of the Service Plan does not impose any liability on the City nor create any
responsibility or liability on the part of the City for any of the District’s obligations.
BOARD/COMMISSION RECOMMENDATION:
Not applicable.
STAKEHOLDER PROCESS:
The notice of the filing of the Service Plan with the City Clerk has been distributed to all existing
taxing districts within the service area of the proposed district. The notice of the hearing on the
proposed Service Plan has been provided to the taxing districts.
ALTERNATIVES:
If the Service Plan is not approved or not approved in the timeframe to meet the State Statutory
requirements for the proponents to conduct an election to form the district, the proponents will not
be able to hold another election, per state statutes until May 2022.
RECOMMENDATION:
Approval of the Resolution.
Attachments:
Proposed Resolution
Services Plan for the Pikes Peak Park Metropolitan District, Nos. 1-5
Service Plan Review Application
Legal Notice for Public Hearing on Service Plan
CONSOLIDATED
SERVICE PLAN
FOR
PIKES PEAK PARKMETROPOLITAN
DISTRICT NOS. 1-5
CITY OF PUEBLO, COLORADO
Prepared by:
2154 East Commons Avenue, Suite 2000
Centennial, Colorado 80122
(303) 858-1800
Submitted on:August 6, 2021
Approved on: _______, 2021
TABLE OF CONTENTS
I.INTRODUCTION..................................................................................................................1
II.PURPOSEOFTHE DISTRICT.............................................................................................2
III.PROPOSEDSTRUCTURE ....................................................................................................3
IV.DISTRICTBOUNDARIES/MAPS........................................................................................4
V. PROPOSEDLAND USE/POPULATION PROJECTIONS ..................................................5
VI. DESCRIPTION OF TYPES OF IMPROVEMENTS ANDPROPOSED SERVICES ..........6
Types ofImprovements ...................................................................................................6
1.Sanitation....................................................................................................................7
2.Water ...........................................................................................................................8
3.Streets..........................................................................................................................8
4.Safety Protection .........................................................................................................8
5.Park and Recreation ....................................................................................................9
6.Transportation .............................................................................................................9
7.Mosquito Control......................................................................................................10
8.Fire Protection ...........................................................................................................10
9.Security .....................................................................................................................11
10.Covenant Enforcement..............................................................................................11
11.Other Powers .............................................................................................................11
Standards ofConstruction/Statement ofCompliance..................................................13
Limitations of the District’s Powers ...............................................................................14
Disclaimer .......................................................................................................................14
VII.DISSOLUTION/CONSOLIDATION..................................................................................15
VIII. PROPOSEDAGREEMENTS..............................................................................................16
Coordinated Services ofDistricts ...............................................................................16
AdditionalIntergovernmental Agreements and Agreements with Private Entities ...... 16
Voter Authorization ........................................................................................................16
IX. ASSESSEDVALUATION ..................................................................................................17
X. ESTIMATED OPERATION COSTS...................................................................................17
XI. FINANCIAL PLAN/PROPOSED INDEBTEDNESS.........................................................18
General ............................................................................................................................18
Mill Levy ........................................................................................................................20
CostSummaryand Bond Development ..........................................................................23
XII.OTHERREQUIREMENTS.................................................................................................23
XIII. CONCLUSION .....................................................................................................................26
LISTOFEXHIBITS
EXHIBIT A Legal Descriptions of the Districts’ Boundaries
EXHIBITBLegalDescriptionofthe Future Inclusion Area
EXHIBIT C Boundary Map of the Districts and Future Inclusion Area
EXHIBIT D Vicinity Map
EXHIBIT E Description of Facilities and Costs
EXHIBITF-1Depiction of SanitationImprovements
EXHIBIT F-2 Depiction of Water Improvements
EXHIBIT F-3 Depiction of Streets and Safety Protection Improvements
EXHIBIT F-4Depiction of Drainage Improvements
EXHIBIT F-5 Depiction of Park and RecreationImprovements
EXHIBIT GFinancial Plan
EXHIBIT H District Coordinating Services Agreement
EXHIBIT I Noticeof SpecialDistrictDisclosureForm
I.INTRODUCTION
A.GeneralOverview.Thisserviceplan(“ServicePlan”)forPikes Peak Park
Metropolitan District Nos.1-5 (collectively, the “Districts”and each a “District”) is submitted for
special districtsproposed to be organized to serve the needs of the Pikes Peak Park development
(the “Development”) within the boundaries of the City of Pueblo, Colorado (“Pueblo” or the
“City”). A legal description and boundary map of each District is contained in Exhibit A and
Exhibit B to this Service Plan (the “Districts’ Boundaries”). A vicinity map showing the location
of the Districts is contained in Exhibit D to this Service Plan.
This Service Plan has been prepared to address the current plans for the
Development, which will be served by five metropolitan districtsas follows: Pikes Peak Park
Metropolitan District No. 1 (the “CoordinatingDistrict”), Pikes Peak Park Metropolitan District
No. 2 (“District No. 2”), Pikes Peak Park Metropolitan District No. 3 (“District No. 3”), Pikes Peak
Park Metropolitan District No. 4 (“District No. 4”), and Pikes Peak ParkMetropolitan District No.
5 (“District No. 5”).
Ingeneral,it is intended that theDistrictswillprovideforthefinance,construction,
operation,and maintenance ofthefacilitiesandimprovementsdescribedherein.TheDistricts
may enter into a District Coordinating Services Agreement(“IGA”), which is anticipated tobe
substantially similar to the form attached hereto as Exhibit H to coordinate the financing and
provision of certain operation, maintenance and administrative services for the Project.
PursuanttotherequirementsoftheSpecialDistrictControlAct,Section32-1-201
etseq., Colorado Revised Statutes (“C.R.S.”), this Service Plan consists of a financial analysis and
anengineering plan showing how the proposed facilities and services of the Districtswill be
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providedandfinanced.Theinformationprovidedherein ispreliminaryinnatureandissubjectto
change as development within the Districtsevolve.Approval of this Service Plan by the City
Council of the City of Pueblo (“City Council”) does not imply any approval of any development
or improvement plan that is utilized as a part of an exhibit in this Service Plan. The following items
are included in this Service Plan:
A. A description of the proposed services;
B.Afinancial planshowing howtheproposed servicesaretobefinanced;
C.A preliminary engineering orarchitectural survey showing how the proposed
services are to be provided;
D. A map of the Districts’ Boundaries, as hereafter defined, and an estimate of the
population and valuation for assessment ofthe Districts;
E. A general description of the facilities to be constructed and the standards of such
construction, including a statement of how the facility and servicestandards of the
Districts are compliant with facility and service standards of the City and of
municipalities and specialdistrictswhich areinterested parties;
F. A general description of the estimated cost, if any, of acquiring land, engineering
services,legal services, administrative services, initial proposed indebtedness
and estimated proposed maximum interest rates and discounts, and othermajor
expenses related to the organization and initial operation of the Districts; and
G. A description of anyarrangement or proposed agreement with any political
subdivision for the performance of any services between the Districts and such
other political subdivision.
II.PURPOSE OFTHE DISTRICT
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Approximately seventy-four (74) acres of theDevelopment is currently within the
boundaries of the Cityandapproximately eight (8) Acres is expected to be annexed to the City and
is shown within the Future Inclusion Area is depicted in Exhibit Band Exhibit C.The property
withinthe ServiceArea (defined herein) is located generally East of Pueblo Boulevard andNorth
th
of W. 24Street in the City and County of Pueblo.The Development is now vacant and is not
presently served with the facilities and services to be provided by the Districts. The Development
is being developed by Neighborworks Southern Colorado, or its affiliates, successors or assigns
(the “Developer”). Neither the City nor any other special district has plans to provide such services
and facilities within a reasonable time and on a comparable basis. Therefore, it is necessary that
the Districts be able to provide the inhabitants of the Development with water, sewer, street, safety
protection, parks and recreation, transportation, mosquito control, security services, covenant
enforcement, and fire protection services and to dedicate, when appropriate, some of the public
improvements to the City, the Pueblo Fire Department (the “Fire Department”), or to such other
entity as appropriate.
III.PROPOSED STRUCTURE
Services will be provided to the Development by the Coordinating District together with
District No. 2, District No. 3, District No. 4, and District No. 5. The Districts will be organized to
finance, construct, own, manage and operate the public improvements throughout the
Development. District No. 2, District No. 3, District No. 4, and District No. 5 (collectively, the
“Financing Districts”) will be organized to coordinate their efforts in order to provide public
services to the Development in the most efficient mannerpossible.The Coordinating Districtmay
provide administrative services for and on behalf of the Financing Districts. The Coordinating
District may own, operate and maintain the public facilities and improvements within the
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Developmentthatare not otherwise dedicated or conveyed to the City, the County, or other public
entityor owners’association.Each Financing District maybe responsiblefor any and all costs,
fees, charges and expenses incurred by the Coordinating District in providing administrative
services and operations and maintenance services. The Districts may enter into the IGA which will
set forth the arrangements for the financing, construction, and operations of the improvements
contemplated herein for the Development. It is anticipated that the property within the Districts’
Boundaries will be developed for residential uses.
The multiple district structure, comprised of the Coordinating District together with the
Financing Districts, is proposed because it provides several benefits to the inhabitants of the
Development and the City. Multiple districts will assure that: 1) the necessary services and
improvements can be financed in the most favorable and efficient manner; 2) all the services and
improvements needed for the Development will be available when needed through managed
development; and 3) a reasonable mill levy and reasonable tax burden on all residential,
commercial, and industrial property within the Districts will be maintained through managed
financing, coordinated completion of infrastructure improvements and coordinated operations and
maintenance services.In order to maintain flexibility and best serve the Development, the Districts
may coordinate their efforts through alternative structures not specifically contemplated herein.
IV.DISTRICTBOUNDARIES/MAPS
The area proposed to be included within the Districts’ Boundaries initially consists of
approximately seventy-four (74) acres. Legal descriptions and maps of the Districts’ Boundaries
are attached hereto as Exhibit A and Exhibit B. A vicinity map of the Development is attached
as Exhibit C. The Districts’ Boundaries as they may be changed from timeto time, as well as the
4
Future Inclusion Area (defined below),shallbecollectivelyreferredtohereinas the“Service
Area.”
The property described on Exhibit B, and depicted in Exhibit C, attached hereto and
incorporated herein, is owned by the Developer and is anticipated to be included into the
Development following annexation to the City (the “Future Inclusion Area”).
Only boundary adjustments which add to, or subtract from, the total acreage of the Districts
shall be considered a material modification of this Service Plan and shall require the prior written
approval for the City Council. No additional approval from the City Council shall be required for
boundary adjustments which do not increase or decrease the total acreage of the Districts; so long
as the total acreage of the Districts does not change, the Districts’ individual boundaries may be
adjusted as the Districts deem necessary to account for development pace, infrastructure phasing
requirements, and other market conditions. Such adjustments shall be effected pursuant to Sections
32-1-401 et seq., and 32-1-501 et seq., C.R.S.
The boundaries of the Districts shall not overlap unless the aggregate mill levy for
payment of debt of the overlapping Districts will not at any time exceed the Debt Mill Levy
Limit.
V.PROPOSED LAND USE/POPULATION PROJECTIONS
The property within theDistrictBoundaries is now undeveloped and is not presently served
with the facilities and/or services proposed to be provided by the Coordinating District, nor does
Pueblo or any other special district have any plans to provide such services within a reasonable
time and on a comparable basis.
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The Development, which is approximately seventy-four (74) acres, is entirely within the
boundaries of the City. It is anticipatedthat the property within the District2, District 3, and
District 4boundarieswill be developed with approximately six hundred four(604)residential
units, including single family detached and attached homes and multifamily units, with a projected
population of 1510 persons based on a ratio of 2.5 residents per household.It is anticipated District
5’s boundaries will be developed with approximately thirty two thousand (32,000) square feet of
office and retail space. The future development within the Service District may be developed for
residential use after development plans for District 2, District 3, and District 4 are finalized.
VI.DESCRIPTION OF TYPES OF IMPROVEMENTS AND PROPOSED SERVICES
The following paragraphs providea description of the types of improvements and proposed
services to be provided by the Districts. The City shall not be obligated to own, operate, or maintain
any of the improvements provided by the Districts. Those improvements not dedicated to the City
for ownership, operation, and maintenance may be owned, operated andmaintainedbythe
Districtsor other appropriate entities.
TypesofImprovements. The Districtsplan to provide for the design,
acquisition, construction, installation and financing of certain water, sanitation, street, safety
protection, park and recreation, transportation, mosquito control, security, covenant
enforcement, and fire protection improvements and services within and without the District
Boundaries. This Service Plan describes those improvements anticipated for constructionand
the services the Districts anticipate providing. The improvements and services will benefit all
of the property owners and residents within the Development. A general description of each
type of improvement and service to be provided by the Districts follows this paragraph, and
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Exhibit E lists the improvements planned to be provided for the property within the Service
Area and estimated costs of such facilities (the “Improvements”). The improvements generally
depicted and described in Exhibits F-1 through F-5 have been presented for illustration only.
The exact design, sub-phasing of construction and location of the improvements will be
determined at the time of the submittal of the site development plan and, if approved by the
City, such decisions shall not be considered to be a material modification of this Service Plan.
The Districts shall have the authority to finance improvements for such properties subject to the
debt issuance limitations set forth in Section XI, Paragraph A hereof.
1. Sanitation. The Districts shall have the power to provide for the design,
acquisition, construction, financing, completion, and installation of a local sanitary sewage
collection and transmission system which may include, but shall not be limited to, collection mains
and laterals, lift stations, transmission lines, and/or storm sewer, flood and surface drainage
facilities and systems, including detention/retention ponds and associated irrigation facilities, and
all necessary, incidental, and appurtenant facilities, land and easements, together with extensions
of and improvements to said system within andwithout the Districts’Boundaries. The Districts
may provide for sanitary sewage collection and transmission through the purchase of capacity in
existing collection mains and transmission lines.
Except asotherwise provided herein, it is anticipated that, following
acceptance by the City, the City will own, operate, and maintain any sanitation improvements
constructed by the Districts. It is anticipated that storm water improvements will be dedicated to
and accepted by the Cityfor ongoing ownership and maintenance obligations. TheDistrictsshall
have the authority to install and maintain landscaping improvements in the vicinity of said storm
water improvements.
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2. Water. The Districts shall have the power to provide for the design,
acquisition, construction, financing, completion, and installation of a complete potable and non-
potable local water, transmission, and distribution system, which may include, but shall not be
limited to, transmission lines, distribution mains and laterals, pressure reducing stations, irrigation
facilities, storage facilities, water supply, water rights, land and easements, and all necessary,
incidental, and appurtenant facilities, together with extensions of and improvements to said system
within and without the Districts’ Boundaries.
It is anticipated that the Board of Water Works of Pueblo, Colorado will
own, operate and maintain any water system and any water system improvements for the
Development and any future included areas.
3. Streets. The Districts shall have the power to provide for the design,
acquisition, construction, financing, completion, and installation of street improvements,
including curbs, gutters, culverts, and other drainage facilities, acceleration and deceleration
lanes, sidewalks, bike paths and pedestrian ways, median islands, paving, lighting, parking lots,
grading, landscaping and irrigation, together with all necessary, incidental, and appurtenant
facilities, land and easements, together with extensions of and improvements to said facilities
within and without the Districts’Boundaries.
It is anticipated that, following acceptance by the City, the Citywill own
and maintain any streets andstreet improvements within theDevelopment.
4. Safety Protection. The Districts shall have the power to provide for the
design, acquisition, construction, financing, completion, and installation of facilities and/or
services for a system of traffic and safety controls and devices on streets and highways and at
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railroad crossings, including, but not limited to, signalization, signing and striping, together with
all necessary, incidental, and appurtenant facilities, land and easements, together with
extensions of and improvements to said facilities within and without the Districts’ Boundaries.
Following acceptance by the appropriate entities, it is anticipated that any
safety protection improvementswill betransferred tothe City for ownership,operation and
maintenance.
5.ParkandRecreation. The Districtsshall have the power to provide for the
design, acquisition, construction, financing, completion, and installation of parks and
recreational facilities and programs including, but not limited to, parks, bike paths and
pedestrian ways, open space, landscaping, cultural activities, water bodies, irrigation facilities,
and other active and passive recreational facilities, programs, and events, and all necessary,
incidental and appurtenant facilities, land and easements, together with extensions of and
improvements to said facilities within and without the Districts’Boundaries.
Following acceptance by the appropriate entities, it is anticipated that some
of the park and recreation improvements that may be constructed by the Districtswill be owned,
operated,and maintained by the Cityand, subject to the City’s consent, some of the improvements
may be operated and maintained by the Coordinating District,applicable Financing District,or
other appropriate owners associations.
6. Transportation. The Districts shall have the power to provide for the
design, acquisition, construction, financing, completion, and installation of a system to transport
the public by bus, rail, or any other means of conveyance, or combination thereof, or pursuant
to contract, including park and ride facilities and parking lots, structures and facilities; together
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with all necessary, incidental and appurtenant facilities, land and easements, and all necessary
extensions of and improvements to said facilities or systems within and without the Districts’
Boundaries.
Following acceptance by the appropriate entities, it is anticipated that any
transportation improvements will be transferred to the City or other appropriate entity for
ownership, operation, and maintenance.
7.MosquitoControl. The Districtsshall have the power to provide for the
eradication and control of mosquitoes, including, but not limited to, elimination or treatment of
breeding grounds and purchase, lease, contracting or other use of equipment or supplies for
mosquito control within and without the Districts’Boundaries. It is anticipated that any
mosquito control improvements will be maintained by an owner’s association, the Coordinating
District, applicable Financing District, or the City.
8. Fire Protection. The Fire Department currently provides fire protection
service to property within the Service Area. The Coordinating District shall have the power to
provide for the financing of and design, acquisition, construction, completion, installation,
operation and maintenance of facilities and equipment for fire protection, including fire stations,
ambulance and emergencymedical response and rescue services, hazardous material services,
diving and grappling stations and all necessary, incidental and appurtenant facilities, land and
easements, together with extensions of and improvements to said systems within and without
the Districts’boundaries. Following acceptance, the fire protection improvements and facilities
will be transferred to the Fire Department for ownership, operation and maintenance. The
Districts’authority to provide fire protection services and facilities shall be subject to an
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agreement between eachDistrict and the Fire Department pursuant to Section 32-1-
107(3)(b)(IV), C.R.S. It is the express intent of this Service Plan that eachDistricts’authority
to provide fire protection service and facilities shall be exercised cooperatively with the existing
Fire Department, rather than authorize the creation of an independent fire department as a part
of each District.
9. Security. The Districts shall have the power to furnish security services
for any area within the Service Area. Prior to furnishing any security services, the Districtsshall
provide written notification to, consult with, and obtain the prior written consent of the Pueblo
Chief of Police and any applicable master association or similar body having authority in its
charter or declaration to furnish security services within the Service Area.
10. Covenant Enforcement. The District shall have the power to provide
covenant enforcement and design review services within the Service Area if the Districtsand
the governing body of a master association or similar body contract for such services, or if the
declaration, rules and regulations, or any similar document containing the covenants to be
enforced for the area within the Service Area name the Districtsas the enforcement or design
review entity. The Districtsshall have the power to provide covenant enforcement and design
review servicesonlyifrevenuesusedtoprovidesuchservicesarederivedfromthe area inwhich
theserviceis furnished.
11. Other Powers. In addition to the enumerated powers, the Districtsshall also
have the following authority:
(a) Plan Modifications. To modify thisService Plan in accordancewith
the statutoryprocedures set forth in Section 32-1-207, C.R.S.
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(b) Phasing, Deferral. Without modifying this Service Plan, to defer,
forego, reschedule, or restructure the financing and construction of certain improvements and
facilities, to better accommodate the paceof growth, resource availability, and potential
inclusionsofproperty within the Districts in accordance with SectionIV hereinabove.
(c)AdditionalServices.Exceptasspecificallyprovidedherein,to
provide such additionalservices and exercisesuch powers asare expresslyorimpliedlygranted
tospecial districts by Colorado law, including but not limited to those powers delineated in
Section 32-1-1004,C.R.S., as the same may beamended from time to time.
(d) Subdistricts. Withthe prior consent of City Council,theDistricts
shall have the authority pursuant to Section 32-1-1101(1)(f)(I), C.R.S. and Section 32-1-
1101(1.5)(a) through (1.5)(e), C.R.S., to divide the Districtsinto one or more areas consistent
with the services, programs and facilities to be furnished therein.
(e) SpecialImprovement Districts. With the priorconsentofCity
Council, the Districts shall beauthorized to establish special improvementdistricts within the
Service Area as provided in Section 32-1-1101(1)(g), C.R.S., and shall have the authority to
exerciseallpowersnecessaryandrelatedtosuchspecialimprovementdistrictsaspermitted
by Section32-1-1101(1)(g),C.R.S.
(f) Enterprises.The Districts’ Boards may set up enterprisesto
manage, fund, and operate such facilities, services, and programs as may qualify for enterprise
statususing the procedures and criteria provided in Article X, Section 20, ColoradoState
Constitution.To the extent provided by law, any enterprise established by the Districts’Boards
will remain under the control of eachDistricts’ Board.
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Standards ofConstruction/Statement ofCompliance. Any facilities, which the
Districtsmay construct pursuant to this Service Plan, if constructed, shall be constructed in
accordance with the following provisions:
1.The sanitary sewer treatment and/or collection facilities will be designed,
constructed and maintained in accordance with the standards of the Colorado Department of
Health, the City, and other applicable local, state or federal rules and regulations.
2.The Districts’ water system will be constructed and maintained in
accordance with the standards of the Board of Water Works of Pueblo, Colorado, the Colorado
Department of Public Health and Environment (“CDPHE”) or otherjurisdictions, as appropriate.
3.All streets and safety protection facilities to be dedicated to the City will be
constructed in accordance with the standards and specificationsofthe City.
4.All storm sewers and facilities will be constructed in accordance with the
standards and specifications of the Cityand other local jurisdictions, as appropriate.
5.All parks and recreational facilities and/or services will be constructed in
accordance with engineering anddesign requirements appropriatefor thesurroundingterrain, and
shallbein compliancewithstandards ofthe Cityor otherlocalpublicentities,asappropriate.
6.All transportation facilities and/or services will be provided in accordance
withthestandardsandspecificationsofthe City,ifany,orotherlocalpublicentities,asappropriate.
9.Allmosquitocontrolactivitiesand/orprogramswillbeprovidedin
accordance with the standards and specifications of the CDPHE, the City,andotherapplicable
local, state and federal regulations.
13
10.All fire protection facilities and services will be designed, constructed and
maintained in accordance with the standards of the City, the Fire Department and any other
applicablelocal, stateorfederal rules andregulations.
The Districts will require its engineers to implement a planto assure thatthe
standards by which the facilities are to be constructed are in accordance with the specifications of
the Cityand any other party which will have jurisdiction over the design and/or construction of
such facilities.
LimitationsoftheDistrict’sPowers
1.The Districtswill ensurethatanyfacilitieswhichthe Districts may construct
pursuant to this Service Plan are designed and constructed in accordance with the standardsand
specifications of the City and of other governmental entities having proper jurisdiction. The
Districts will obtain the City’s approval of civil engineering plans and will obtain applicable
permits for construction and installation of all such facilities prior toperformingallsuch work.
2.The Districts shall not exercise theirpower of eminent domain without the
prior written consent of the City Council. This restriction on the Districts’ exercise of the eminent
domain power is being voluntarily acquiesced to by the Districts and shall not be interpreted in
any way as a limitation on the Districts’ sovereign powers and shall not negatively affect the
Districts’ status as a political subdivision of the State as conferred by the Special District Act.
Disclaimer.
1.The financial information and other representations contained in this
ServicePlan have not been independently reviewed or verified by the City and the City disclaims
any opinionas to the accuracyorreliability of same.
14
2.The City has no legal obligation to accept, for ownership and maintenance
purposes,anyfacilitieswhich theDistrictsmayconstructpursuantto thisServicePlan.
3. The City is not and never shall be obligated topayany of the debt obligations
of the Districts. The faith and credit of the City will not be pledged for the repayment of any debt
or other financial obligation of any Districts. This will be clearly stated on all offering circulars,
prospectuses, or disclosure statements associated with any securities issued by any District. The
Districts shall not utilize the “City of Pueblo’’ name in the name of any District. In the text of each
Bond and any other instrument representing and constituting the debt or other multi-fiscal year
obligation of any of the Districts, there shall be set forth a statement in substantially the following
form:
By acceptance of this instrument, the owner of this Bond \[or other debt obligations\]
agrees and consents to all of the limitations in respect of the payment of the
principal of and interest on this Bond \[or other debt obligations\] contained herein,
in the resolution of the District authorizing the issuance of this Bond \[or other debt
obligations\] and in the Service Plan for the District.
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 Districts’ Boundaries.
VII.DISSOLUTION/CONSOLIDATION
At the request of Pueblo or if the Districts’ Boards deem it to bein the best interests of the
Districts that the Districts be dissolved, the Districts shall initiate and diligently pursue dissolution
in accordance with Section 32-1-701 et seq., C.R.S., at such time as: (1) Pueblo agrees to provide
or cause to be provided substantially the same level of operations and maintenance (if any) of the
Districts’ facilities as the Districts have provided, (2) all of the proposed improvements and
15
facilities have been constructed andconveyedtothe Cityorotherappropriateentity,and(3)alldebt
incurredforsuchfacilitieshasbeenrepaid or arrangement for repayment has been madein
accordance with State law.The City Council may consent to thedissolution byresolution.
Except with respect to a consolidation among the Districts, a request shall not be filed with
any court to consolidate with another Title 32 districtwithout thepriorwritten consent of the City
Council.
VIII.PROPOSEDAGREEMENTS
CoordinatedServicesofDistricts. As discussed in this Service Plan, the
relationship between the Coordinating Districtand the Financing Districts may be established
through the proposed IGA. The IGA is anticipated to provide the procedures for coordinated
financing, budgeting, and administrative oversight and management.
Additional Intergovernmental Agreements and Agreements with Private
Entities. To the extent practicable, the Districts may enter into additional intergovernmental
and private agreements to better ensure long-term provision and effective management of the
public improvements and services. Agreements may also be executed with property owners
associations and other service providers. Any additional intergovernmental agreements are
authorized pursuant to Colorado Constitution, Article XIV, §18 (2)(a) and Section 29-1-201 et
seq., C.R.S.
VoterAuthorization. To the extent necessary to comply with statutory and/or
Constitutional requirements for approval of debt or long-term financial obligations, the terms of
the aforementioned intergovernmental agreements and any other intergovernmental agreement
16
deemed necessary to effectuate the long-term plans of the Districtswill be submitted to the
electors of the Districtsfor approval. The Districtsshall have the authority to obtain the required
voter authorization in order to exercise its rights and obligations under such agreements and to
enter into the agreements without further approval of Pueblo.
IX.ASSESSED VALUATION
The Financial Plan for the Districts is attached hereto as Exhibit G. For purposes of the
Financial Plan, the property within the Service Area is assumed to have a current assessed
valuation of $65,250.00. The projected build-out and assessed valuation for the property within
the Service Area is set forth in the Financial Plan.
X.ESTIMATED OPERATION COSTS
Subjecttotheapplicablewarranty,the Districts intend to dedicate certain facilities
constructed or acquired, to the appropriate jurisdiction for operations and maintenance. Certain
facilities completed within theboundaries of the Financing Districts may be owned, operated
and/or maintained by the Coordinating District.
TherearestatutoryandconstitutionallimitsontheDistricts’ability toincrease its mill
levy for provision of operation and maintenance services without an election.The Districts
intend to obtain the necessary electoral approval to comply with the foregoinglimitations.The
Debt Mill Levy Cap, defined below, proposed for repayment of bonds does notapply to the
Districts’abilitiesto increase its mill levy as necessary for the provision ofoperationservices
to its taxpayersand serviceusers.
17
Inadditiontotheoperationsmilllevy,theDistrictsmayalsorelyuponvariousother
revenue sources authorized by law and this Service Plan to offset the expenses of each Districts’
management, operations,and maintenance. These may include revenues from other
governmental entities, developers, and other public or private entities, as well as the power to
assess fees, rates, penalties, or charges as provided in Title 32, Article 1, C.R.S., as amended.
The Districts shall have the authority to repay the Developer for amounts advanced for
operations expenses together with accrued interest thereon and to seek electorate approval for
such obligation to be deemed a multiple-fiscal year obligation, provided such obligation shall
be subordinate to the Districts’ bonds issued for capital improvements.
XI.FINANCIAL PLAN/PROPOSEDINDEBTEDNESS
General. The Financial Plan attached hereto as Exhibit G shows how the
proposed improvements and/or services may be financed, including the estimated costs, if any,
of acquiring land, engineering services, legal services, administrative services, proposed
indebtedness and estimated proposed maximum interest rates and discounts, and other major
expenses related to the organization and operation of the Districts. The Financial Plan
demonstrates that, at various projected levels of development, the Districtshavethe ability to
finance the proposed improvements identified herein and will be capable of discharging the
proposed indebtedness on a reasonable basis. The Financing Plan demonstrates one method that
might be used by the Districts to finance the cost of public improvements.
Pursuant to the IGA, the Financing Districts will be responsible for financing the
cost of certain of the improvements described on Exhibit E, and the Coordinating District will be
responsible for owning, operating and maintaining such improvements. The provision of facilities
18
by the Districtswill be primarily financed by the Districts’issuance of general obligation bonds,
revenue bonds, or other multiple fiscal year obligations,secured by, amongother sources of
revenue, the ad valorem taxing authority of the Financing Districts, with limitations as discussed
below.
In order to finance the improvements, the Financial Plan demonstrates the issuance
of approximately Thirteen Million Nine Hundred Fifty-Seven Thousand Dollars ($13,957,000) in
general obligation bonds. Prior to the issuance of any debt, the construction costs for necessary
improvements may be paid by the Developer, subject to subsequent acquisition by the Districts of
the completedimprovements and payment to the Developer of such construction costs, or
dedication of saidimprovements to the City or other appropriate entity and reimbursement by the
Coordinating District to the Developer for such construction costs. The Financial Plan
demonstrates the issuance of bonds and the anticipated repayment based on the projected
developmentin theFinancing Districts. The Financial Plan assumes the firstbond issuewilloccur
in 2022. The Districts shall have the authority to issue debt in the total aggregate principal amount
of Twenty-one Million Dollars ($21,000,000) (the “Debt Authority”). The incurrence of multiple
fiscal year debt obligations in excess of the Debt Authority shall be considered a material
modification of the Service Plan, which shall be subject to the statutory procedures set forth in
Section 32-1-207, C.R.S. The City shall never be liable for any of the District’s debt obligations
and any offering document accompanying the issuance of any debt and the face of any debt
instrument issued shall disclose that limitation.
If the Developer or other landowner constructs the public infrastructure and
conveys it to the City or the Districts in return for a reimbursement obligation, prior to making
19
suchreimbursement for such amounts, the Districtsmust receive the report of an independent
engineeror accountantconfirmingthattheamountof thereimbursement isreasonable.
PriortotheissuanceofanyprivatelyplacedDebtforcapitalrelatedcosts,the
District shall obtain the certification of an External Financial Advisor substantially as follows:
We are \[I am\] an External Financial Advisor within the meaning of the District’s
Service Plan.
We \[I\] certify that (1) the net effective interest rate (calculated as defined in Section
32-1-103(12), C.R.S.) to be borne by \[insert the designation of the Debt\] 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 consideringthe
financial circumstances of the District.
For purposes of the foregoing requirement, an “External Financial Advisor”isa
consultant that: (1) advises Colorado governmental entities on matters relating to the issuance of
securities by Colorado governmental entities, including matters such as the pricing, sales and
marketing of such securities and the procuring of bond ratings, credit enhancement and insurance
in respect of such securities; (2) shall be an underwriter, investment banker, or individual listed as
a public finance advisor in the Bond Buyer’s Municipal Market Place; and (3) is not an officerof
the District.
Mill Levy. The Districtsmay assess a mill levy on all taxable property in the
Districts’ Boundaries as a source of revenue for repayment of debt service and, as discussed
above, for operations.
Each of the Financing Districts shall only be required to fund on an annual basis,
the amount that the applicable Financing District would be capable of fundingthroughtax
20
revenuesresultingfromthe impositionoftheDebtMillLevyCap(definedherein).The maximum
mill levy the Districtsmay impose for the paymentofprincipalofandinterestonDebtshallbe
sixty (60) mills (the “Debt Mill Levy Cap”); provided that if, on or after January 1, 2019, there are
changes in the method of calculating assessed valuation or any constitutionally mandated tax credit,
cut or abatement; the mill levy limitation applicable to such debt may be increased or decreased to
reflect such changes, such increases or decreases to be determined by the Districts’ Boards in good
faith so that to the extent possible, the actual tax revenues generated by the mill levy, as adjusted
for changes occurring after January 1, 2019, are neither diminished nor enhanced as a result of
such changes. For purposes of the foregoing, a change in the ratio of actual valuation shall be
deemed to be a change in the method of calculating assessed valuation. Except as otherwise
provided in this Section XI.B., the Debt Mill Levy Cap shall not be increased unless first approved
by the City Council and as permitted by statute. Any such increase shall be considered a material
modification of the Service Plan.
The Districts may impose a mill levy to defray operations, maintenance, and
administrative expenses of each District, as deemed necessary to pay for such expenditures. The
Districts shall not impose or attempt to impose a mill levy or fees in lieu of a mill levy on any of
the property conveyed or dedicated to the City as provided in this Service Plan.
The proposed maximum voted interest rate is estimated at eighteen percent (18%)
and the maximum discount at five percent (5%). The exact interest rates, term and discounts will
be determined at the time the bonds are sold by the Districts, and will reflect market conditions at
the time of sale. The Districts may also issue notes, certificates, debentures, or other evidences of
indebtedness, including, but not limited to, contracts that extend beyond one year, on parity with
or subordinate to debt issued pursuant to the Debt Authority, subject to the limitations set forth
21
herein.Ifauthorizedintheballotquestions,refundingbondsmaybeissuedasdetermined bythe
Districts’Boardsand,if so authorized,are not subject to the Debt Authority.Further, ifauthorized
in the ballot questions, the refunding of any debt issued to the Developer, or its affiliates, or any
other entity shall not be subject to the Debt Authority, so as to avoid the double counting of debt
pursuant to the Debt Authority. The Districts may capitalize interest to permit payment of interest
during the time lapse between development of taxable properties and the collection of significant
tax revenues therefrom. Interest income through the reinvestment of construction funds,
capitalized interest, and annual tax receipts will provide additional funds. Theserevenue sources
should be sufficienttoretirethe proposed indebtedness if growth occurs as projected; otherwise,
increases in the mill levy and/or the imposition of rates, tolls, fees and charges may be necessary,
but in no event shall the debt service mill levy exceed the Debt Mill Levy Cap.
ADistrict shall not impose a debt service mill levy which exceeds forty (40) years
after the year of its initial imposition of such debt service mill levy unless (1) a majority of the
Board of Directors of the District imposing the mill levy are residents of such District, and (2) such
Board has voted in favor of issuing debt with a term which requires or contemplates the imposition
of a debt service mill levy for a longer period of time than the limitation contained herein.
The Districts may impose and collect fees, rates, tolls, and charges (“Fees”) as a
source of revenue for repayment of debt, capital costs, and/or for operations and maintenance. No
Fees related to the funding of costs of a capital nature shall be authorized to be imposed upon or
collected from taxable property owned or occupied by an End User (defined as a resident
homeowner, renter, commercial property owner, or commercial tenant, but excluding the business
entity that constructs homes or commercial structures) which has the effect, intentional or
otherwise, of creating a capital cost payment obligation in any year on any taxable property owned
22
or occupied by an End User.Notwithstanding any of the foregoing, the restrictions in this
definition shall not apply to any Fees imposed upon or collected from taxable property for the
purposeof fundingoperation and maintenancecosts of the Districts.
All debt issued by the Districts must be issued in compliancewith therequirements
of Section 32-1-1101, C.R.S. and all other requirements of Colorado law.
Cost Summary and Bond Development. The Financial Plan reflects the amount
of bonds to be sold to finance the completion, construction, acquisition and/or installation of the
Improvements, including all costs and expenses related to the anticipated bond issuances. The
amount of bonds soldwill be based upon the final engineering estimates and/or actual
construction contracts. Organizational costs, including legal fees, accounting fees, and
capitalized engineering costs, for the Districts are expected to be paid from the proceeds of the
first bond issue.
The Financial Plan projects the anticipated flow of funds and is based upon
estimates of constructionand project needs for bond proceeds to finance the improvements. The
FinancialPlan setsforthareasonableestimateofgrowthwithinthe DistrictsandallowstheBoards
ofDirectorsa measureof flexibility such that the Districtsneed not incur debt in excess of what it
needs tomeet agrowingpopulation’s demandsforfacilities and services.
XII.OTHERREQUIREMENTS
The Districtsshall be subject to the following additional requirements:
A. Annual Report. Unless otherwise directed by the City Manager or the Mayor, as
applicable, each District, that is not otherwise deemed “inactive” in accordance with the Special
23
District Act,shall be responsible for submitting an annual report to the CityManager’s Office or
st
the Mayor’s Office, as applicable, no later than August 1of each yearfollowingtheyearinwhich
the Order and Decree creatingsuch District has been recorded. The Annual Report shall include
the following information and such other information as might be requested by the City Manager
or the Mayor, as applicable:
1. Boundary changes made or proposed to the Districts’ Boundaries as
st
of December 31of theprioryear.
2. IntergovernmentalAgreement withother governmental entities, either
st
entered into or proposed as of December 31 of the prior year.
st
3. Copies of each Districts’ rules and regulations, if any as of December 31 of
the prior year.
4. A summary ofanylitigation which involves the Districts’ improvementsas
st
ofDecember31 of theprior year.
5. Status of each Districts’ construction of theimprovements as of
st
December 31of the prior year.
6.A list of all facilities and improvements constructed by eachDistrict that
st
havebeen dedicatedto andaccepted bythe Cityas of December31 of the prior year.
7. The assessed valuation of each District for the current year.
8. Current year budget including a description of the improvements to be
constructed in such year.
9.Audit of each Districts’financial statements, for the year endingDecember
st
31 of the previous year, prepared in accordance with generally accepted accounting principlesor
audit exemption, if applicable.
24
10.Notice of any uncured eventsof default byeachDistrict, whichcontinue
beyond aninety(90)dayperiod, underanydebt instrument.
11. Any inability of each District to pay its obligations as they come due, in
accordance with the terms of such obligations, which continue beyond a ninety (90) day period.
B.MoniesfromOtherGovernmentalSources.TheDistrictsshallnotapplyforor
accept Conservation Trust Funds, Great Outdoors Colorado Funds, or other funds available from
or through governmentalor nonprofitentities that the City is eligible to apply for, except pursuant
to an intergovernmental agreement with the City. This Paragraph shall not apply to specific
ownership taxes which shall be distributed to and a revenue source for the Districts without any
limitation.
C. Disclosureto Purchasers.TheDistricts will use all necessary and appropriateefforts
toassurethatall developers of the property located within the Districts provide written notice to all
purchasers of property in the Districts regarding the Debt Mill Levy Cap, as well as a general
description of the District authority to impose and collect taxes, rates, fees, tolls and charges. The
form of notice shall be substantially in the form of Exhibit I hereto; provided that such form may
be modified by the Districtsso long as a new form is submitted to the City prior to modification.
Within ninety (90)days of approval of this Service Plan, the Districts shallrecorda disclosure
form with the PuebloCounty Clerk and Recorder against all property included in the initial
Districts’Boundaries andprovidearecorded copyto the CityClerk’sOffice.
D. Material modificationsof this Service Plan, exceptas contemplated herein,shallbe
subject to approval bythe City in accordance with the provisions of Section 32-1-207, C.R.S.
25
XIII.CONCLUSION
ItissubmittedthatthisServicePlanforPikes Peak ParkMetropolitanDistrictNos. 1-5,
as required by Section 32-1-203 C.R.S., as amended, establishes that:
A. There is sufficient existing and projected need for organized service in the area to
be serviced by the proposed Districts;
B. The existing service in the area to be served by the proposed Districts is inadequate
for present and projected needs;
C.The proposed Districts are capable of providing economical and sufficient service
tothe area within its proposed boundaries and to the area within the Service Area; and
D. The area to be included in the proposed Districts has, and will have, the financial
ability to discharge the proposed indebtedness on a reasonable basis.
E. Adequate service is not, and will not be, available to the area through the City, or
other existing municipal or quasi-municipal corporations, including existing special districts,
withina reasonabletime and on acomparable basis;
F. The facility and service standards of the Districtsare compatible with the facility
and servicestandards ofthe City within which the Districts are to be located;
G. The proposal is in substantial compliance with a master plan adopted by the City
pursuant to Section 31-23-206, C.R.S.;
H. The proposalis in compliance with any duly adopted county, regional, or state long-
range waterquality management plan for the area; and
26
I.ThecreationoftheDistrictsisinthebestinterestsoftheareaproposedto be
served.
27
EXHIBIT A
LegalDescriptionsof the Districts’ Boundaries
A-1
EXHIBIT A
LAND DESCRIPTION
OVERALL BOUNDARY
PIKESPEAK PARK METROPOLITAN DISTRICT
A parcel of land located in a portion of the S1/2 of Section 22, Township 20 South,
th
P.M. in the County of Pueblo and State of Colorado and being
Range 65 West of the 6
more particularly described as follows:
Considering the North line of the W1/2of the SE 1/4 Section 22, Township 20 South,
th
Range 65 West of the 6 P.M. to bear N. 88°35’17” E., and all bearings contained
herein being relative thereto.
Beginning at the E 1/16 corner of Section 22, Township 20 South, Range 65 West;
thence N. 88°22’52” E. along the north line of Block 9 in Irving Park according to the
recorded plat as filed for record in the office of the Pueblo County Clerk on May 3, 1890
in Book 5, Pages 46 and 47, a distance of 161.71 feet to a point on the westerly right-
of-way line of Canal Street; thence S. 31°56’48” E., a distance of 95.79 feet; thence S.
34°59’13” E., a distance of 95.79 feet; thence S. 31°56’48” E., a distance of 556.10 feet
to a point on the southerly right-of-way line of Columbia Avenue; thence S. 88°22’52”
W., a distance of 710.60 feet to the east line of Block 2 of Foothills Subdivision, A
Special Area Plan according to the recorded plat as filed for record in the office of the
Pueblo County Clerk at Reception No. 1349438; thence S. 01°24’41” E., a distance of
th
325.83 feet to a point on the north right-of-way line of 24
Street as presently located;
thence S. 88°26’38” W., a distance of 1297.38feetto a point on the east line of Block 1
according to the aforementioned Foothills Subdivision, A Special Area Plan; thence S.
01°26’48” E., a distance of 24.38 feet to the southeast corner of said Block 1; thence S.
th
88°12’06” W. along said Block 1 and the north right-of-way line of 24 Street, a
distance of 958.15 feet; thence along the arc of a curve to the right whose radius is
955.00 feet, a distance of 192.56 feet to the southeast corner of said Block 1; thence N.
09°45’15” E., a distance of 68.75 feet; thence along the arc of a curve to the left whose
radius is 250.00 feet, a distance of 51.49 feet; thence N. 02°02’44” W., a distance of
97.52 feet; thence S. 87°57’16” W., a distance of 112.64 feet; thence N. 61°27’20” W.,
a distance of 303.19 feet; thence N. 51°49’57” E., a distance of 98.48 feet; thence N.
23°50’01” E., a distance of 341.66 feet; thence N. 43°10’03” W., a distance of 77.92
feet; thence N. 03°19’57” E., a distance of 119.88 feet; thence N. 42°19’57” E., a
distance of 143.86 feet; thence N. 86°19’57” E., a distance of 122.86 feet; thence N.
01°24’18” W., a distance of 243.75 feetto the northeast corner of Block 1; thence N.
88°35’17” E.along the north line of said Foothills Subdivision, A Special Area Plan, a
distance of 2400.34 feet to the Point of Beginning.
Containing83.584 acres, more or less.
Prepared by: NORTHSTAR ENGINEERING AND SURVEYING, INC.
th
111 E. 5 Street
Pueblo, Colorado 81003
August 5, 2021
JN 20 014 00
EXHIBIT A
LAND DESCRIPTION
DISTRICT NO. 1
PIKESPEAK PARK METROPOLITAN DISTRICT
A parcel of land located in a portion of the SE 1/4 of Section 22, Township 20 South,
th
Range 65 West of the 6 P.M. in the County of Pueblo and State of Colorado and being
more particularly described as follows:
Considering the North line of the W1/2of the SE 1/4Section 22, Township 20South,
th
P.M. to bear N. 88°35’17” E., and all bearings contained
Range 65 West of the 6
herein being relative thereto.
Commencing at the C 1/4 corner of Section 22, Township 20 South, Range 65 West;
thence S. 05°33’31” E., a distance of 557.86 feet to the Point of Beginning; thence S.
01°26’48” E., a distance of 75.00 feet; thence S. 88°33’12” W., a distance of 200.16
feet; thence N. 01°26’48” W., a distance of 75.00 feet; thence N. 88°33’12” E., a
distance of 200.16 feet to the Point of Beginning.
Containing 0.34 acres, more or less.
Prepared by: NORTHSTAR ENGINEERING AND SURVEYING, INC.
th
111 E. 5
Street
Pueblo, Colorado 81003
August 5, 2021
JN 20 014 00
EXHIBIT A
LAND DESCRIPTION
DISTRICT NO. 2
PIKESPEAK PARK METROPOLITAN DISTRICT
A parcel of land located in a portion of the SE 1/4 of Section 22, Township 20 South,
th
Range 65 West of the 6 P.M. in the County of Pueblo and State of Colorado and being
more particularly described as follows:
Considering the North line of the W1/2of the SE 1/4Section 22, Township 20South,
th
P.M. to bear N. 88°35’17” E., and all bearings contained
Range 65 West of the 6
herein being relative thereto.
Beginning at the E 1/16 corner of Section 22, Township 20 South, Range 65 West;
thence S. 01°24’41” E., a distance of 918.23 feet; thence S. 88°26’38” W., a distance of
71.82 feet; thence S. 01°33’22” E., a distance of 100.00 feet; thence S. 88°26’38” W., a
distance of 894.00feet; thence N. 01°33’22” W., a distance of 100.00 feet; thence S.
88°26’38” W., a distance of 291.76 feet; thence N. 01°26’48” E., a distance of 921.40
feet; thence N. 88°35’17” E., a distance of 1258.14 feet to the Point of Beginning.
Containing 28.61 acres, more or less.
Prepared by: NORTHSTAR ENGINEERING AND SURVEYING, INC.
th
111 E. 5 Street
Pueblo, Colorado 81003
August 5, 2021
JN 20 014 00
EXHIBIT A
LAND DESCRIPTION
DISTRICT NO. 3
PIKESPEAK PARK METROPOLITAN DISTRICT
A parcel of land located in a portion of the SW1/4 of Section 22, Township 20South,
th
Range 65 West of the 6 P.M. in the County of Pueblo and State of Colorado and being
more particularly described as follows:
Considering the North line of the W1/2of the SE 1/4 Section 22, Township 20 South,
th
Range 65 West of the 6 P.M. to bear N. 88°35’17” E., and all bearings contained
herein being relative thereto.
Beginning at the C 1/4 corner of Section 22, Township 20 South, Range 65 West;
thence S. 01°26’48” E., a distance of 556.40 feet; thence S. 88°33’12” W., a distance of
200.16 feet; thence S. 01°26’48” E., a distance of 75.00 feet; thence N. 88°33’12” E., a
distance of 200.16; thence S. 01°26’48” E., a distance of 290.00 feet; thence S.
88°33’12” W., a distance of 299.38 feet; thence S. 01°26’48” E., a distance of 100.00
feet; thence S. 88°33’12” W., a distance of 497.70 feet; thence along the arc of a curve
to the left whose radius is 275.00 feet, a distance of 143.95 feet; thence N. 61°27’20”
W., a distance of 263.71 feet; thence along the arc of curve to the left whose radius is
250.00 feet, a distance of 76.16 feet; thence S. 02°02’44” E., a distance of 119.65 feet;
thence S. 87°57’16” W., a distance of 112.64 feet; thence N. 61°27’20” W., a distance
of 303.19 feet; thence N. 51°49’57” E., a distance of 98.48 feet; thence N. 23°50’01”
E., a distance of 341.66 feet; thence N. 43°10’03” W., a distance of 77.92 feet; thence
N. 03°19’57” E., a distance of 119.88 feet; thence N. 42°19’57” E., a distance of 143.86
feet; thence N. 86°19’57” E., a distance of 122.86 feet; thence N. 01°24’18” W., a
distance of 243.75 feet; thence N. 88°35’17” E., a distance of 1102.20 feet to the Point
of Beginning.
Containing 29.69 acres, more or less.
Prepared by: NORTHSTAR ENGINEERING AND SURVEYING, INC.
th
111 E. 5 Street
Pueblo, Colorado 81003
August 5, 2021
JN 20 014 00
EXHIBIT A
LAND DESCRIPTION
DISTRICT NO. 4
PIKESPEAK PARK METROPOLITAN DISTRICT
Parcels of land located in a portion of the S 1/2 of Section 22, Township 20 South,
th
Range 65 West of the 6 P.M. in the County of Pueblo and State of Colorado and being
more particularly described as follows:
Considering the North line of the W1/2of the SE 1/4 Section 22, Township 20 South,
th
Range 65 West of the 6 P.M. to bear N. 88°35’17” E., and all bearings contained
herein being relative thereto.
PARCEL A
Commencing at the C 1/4 corner of Section 22, Township 20 South, Range 65 West;
thence S. 51°20’22” W., a distance of 1410.04 feet to the Point of Beginning; thence S.
61°27’20” E., a distance of 263.71 feet; thence along the arc of a curve to the left
whose radius is 275.00 feet, a distance of 143.95 feet; thence N. 88°33’12” E., a
distance of 497.70 feet; thence S. 01°26’48” E., a distance of 256.13 feet; thence S.
88°12’06” W., a distance of 698.76 feet; thence along the arc of a curve to the right
whose radius is 955.00 feet, a distance of 192.56 feet; thence N. 09°45’15” E., a
distance of 68.75 feet; thence along the arc of a curve to the left whose radius is
250.00 feet, a distance of 51.49 feet; thence N. 02°02’44” W., a distance of 217.77
feet; thence along the arc of a curve to the right whose radius is 250.00 feet, a distance
of 76.16 feet to the Point of Beginning.
Containing 5.79 acres, more or less.
PARCEL B
Commencing at the E1/16 corner of Section 22, Township 20 South, Range 65 West;
thence S. 01°24’41” E., a distance of 918.23 feet to the Point of Beginning; thence S.
01°24’41” E., a distance of 330.08 feet; thence S. 88°26’38” W., a distance of 964.99
feet; thence N. 01°33’22” W., a distance of 230.08 feet; thence N. 88°26’38” E., a
distance of 894.00 feet; thence N. 01°33’22” W., a distance of 100.00 feet; thence N.
88°26’38” E., a distance of 71.82 feet to the Point of Beginning.
Containing 5.26 acres, more or less.
Prepared by: NORTHSTAR ENGINEERING AND SURVEYING, INC.
th
111 E. 5 Street
Pueblo, Colorado 81003
August 5, 2021
JN 20 014 00
EXHIBIT A
LAND DESCRIPTION
DISTRICT NO. 5
PIKESPEAK PARK METROPOLITAN DISTRICT
A parcel of land located in a portion of the S1/2 of Section 22, Township 20 South,
th
Range 65 West of the 6 P.M. in the County of Pueblo and State of Colorado and being
more particularly described as follows:
Considering the North line of the W1/2of the SE 1/4 Section 22, Township 20 South,
th
Range 65 West of the 6 P.M. to bear N. 88°35’17” E., and all bearings contained
herein being relative thereto.
Commencing at the C 1/4 corner of Section 22, Township 20 South, Range 65 West;
thence S. 14°16’30” W., a distance of 957.23 feet to the Point of Beginning; thence N.
88°29’57” E., a distance of 591.14 feet; thence S. 01°33’22” E., a distance of 330.08
feet; thence S. 88°26’38” W., a distance of 332.39 feet; thence S. 01°26’48” E., a
distance of 24.38 feet; thence S. 88°12’06” W., a distance of 259.38 feet; thence N.
01°26’48” W., a distance of 356.13 feet to the Point of Beginning.
Containing 4.63 acres, more or less.
Prepared by: NORTHSTAR ENGINEERING AND SURVEYING, INC.
th
111 E. 5 Street
Pueblo, Colorado 81003
August 5, 2021
JN 20 014 00
EXHIBIT B
Legal Descriptionofthe Future Inclusion Area
B-1
EXHIBIT
LAND DESCRIPTION
FUTURE INCLUSION
PIKESPEAK PARK METROPOLITAN DISTRICT
A parcel of land located in a portion of the SE 1/4 of Section 22, Township 20 South,
th
Range65 West of the 6P.M. in the County of Pueblo and State of Colorado and being
more particularly described as follows:
Considering the North line of the W 1/2 of the SE 1/4 Section 22, Township 20 South,
th
Range 65 West of the 6 P.M. to bear N. 88°35’17” E., and all bearings contained
herein being relative thereto.
Beginning at the E 1/16 corner of Section 22, Township 20 South, Range 65 West;
thence N. 88°22’52” E. along the north line of Block 9 in Irving Park according to the
recorded plat as filed for record in the office of the Pueblo County Clerk on May 3, 1890
in Book 5, Pages 46 and 47, a distance of 161.71 feet to a point on the westerly right-
of-way line of Canal Street; thence S. 31°56’48” E., a distance of 95.79 feet; thence S.
34°59’13” E., a distance of 95.79 feet; thence S. 31°56’48” E., a distance of 556.10 feet
to a point on the southerly right-of-way line of Columbia Avenue; thence S. 88°22’52”
W., a distance of 710.60 feet to the east line of Block 2 of Foothills Subdivision, A
Special Area Plan according to the recorded plat as filed for record in the office of the
Pueblo County Clerk at Reception No. 1349438; thence N. 01°24’41” W., a distance of
922.50 feet to the Point of Beginning.
Containing 9.24 acres, more or less.
Prepared by: NORTHSTAR ENGINEERING AND SURVEYING, INC.
th
111 E. 5 Street
Pueblo, Colorado 81003
August 5, 2021
JN 20 014 00
EXHIBITC
BoundaryMaps of the Districts and Future Inclusion Area
C-1
EXHIBIT D
Vicinity Map
D-1
EXHIBIT E
Description of Facilities and Costs
E-1
Cost Estimate Pikes Peak Park Metropolitan District
Date: August 6, 2021
Assumed Quantity UM Unit Price Extended
POTABLE WATER
8" WATERMAIN 16,902 LF $62.50 $1,056,375.00
FIRE HYDRANTS 35 EA $7,750.00 $271,250.00
8" VALVES 161 EA $2,431.25 $391,431.25
8" CROSS 8 EA $3,750.00 $30,000.00
8" MISC FITTINGS 30 EA $937.50 $28,125.00
8" TEE 43 EA $1,868.75 $80,356.25
TIE IN 5 EA $8,125.00 $40,625.00
8" BLOW OFF 25 EA $2,493.75 $62,343.75
WATER SERVICES 474 EA $1,625.00 $770,250.00
Total $2,730,756.25
SANITARY SEWER
8" Sewer Main 15,687 LF $81.25 $1,274,568.75
Sewer manholes 12-14 76 EA $6,637.50 $504,450.00
Tie-In 5 EA $11,875.00 $59,375.00
Sewer Services 474 EA $2,687.50 $1,273,875.00
TOTAL $3,112,268.75
STORM SEWER
36" STORM 5,334 LF $266.25 $1,420,177.50
36" FES 6 EA $4,493.75 $26,962.50
STORM MANHOLE 14 EA $6,025.00 $84,350.00
INLETS 22 EA $11,187.50 $246,125.00
MISC CONCRETE 1 LS $118,750.00 $118,750.00
RIPRAP INSTALLATION 3,000 TN $117.50 $352,500.00
OUTLET STRUCTURE 3 EA $31,250.00 $93,750.00
TOTAL $2,342,615.00
EARTH WORK FOR SITE AND PONDS
CLEAR AND GRUBB 79 AC $431.25 $34,068.75
TOPSOIL STRIP AND STOCKPILE 52,574 CY $2.81 $147,864.38
CUT FILL 224,298 CY $4.13 $925,229.25
TOPSOIL PLACEMENT 52,575 CY $2.25 $118,293.75
OVER EXCAVATE AND RECOMPACT
ROADWAYS 4' 86,649 CY $5.94 $514,478.44
TOTAL $1,739,934.56
STREET CONSTRUCTION
COLLECTOR STREET
6" ASPHALT ON 11" ROADBASE 15,679 SY $61.05 $957,202.95
RESIDENTAL STREET
4" ASPHALT SECTION ON 10" ROADBASE 38,477 SY $50.03 $1,924,811.93
ALLEY
4" ASPHALT ON 10" ROADBASE 14,548 SY $50.03 $727,763.70
CURB AND GUTTER COLLECTER AND
RESIDENTIAL 28,964 LF $29.94 $867,109.75
MISC CONCRETE PANS ETC. 1 LS $355,500.00 $355,500.00
MISC EARTHWORK AND CLEANUP 1 LS $312,500.00 $312,500.00
5' SIDEWALKS 4" THICK 173784 SF $6.88 $1,194,765.00
STRIPING 14482 LF $1.88 $27,153.75
GENERAL CONDITIONS 1 LS $489,821.00 $489,821.00
STOP SIGNS 35 EA $1,000.00 $35,000.00
TOTAL $6,891,628.08
GRAND TOTAL
ALL PHASES $16,817,202.64
*THIS IS AN ESTIMATE ONLY. ACTUAL CONSTRUCTIONS COSTS MAY VARY.
*ESTIMATE DOES NOT INCLUDE THE
FOLLOWING:
ENVIRONMENTAL CONTROL INSTALLATION AND MAINTENANCE
RE-VEGITATION
ALL ENGINEERING FEES
ALL MAIN EXTENSION AGREEMENT/TAP FEES
THIS ESTIMATE IS PUT TOGETHER USING PRELIMINARY LAYOUT INFORMATION PROVIDED BY NORTHSTAR ENGINEERING
EXHIBIT F-1
Depiction of Sanitation Improvements
F-1
EXHIBIT F-2
Depiction of Water Improvements
F-2
EXHIBIT F-3
Depiction of Streets and Safety Protection Improvements
F-3
EXHIBIT F-4
Depiction of Drainage Improvements
F-4
EXHIBIT F-5
Depiction of Park and Recreation Improvements
F-5
EXHIBIT G
Financial Plan
G-1
1
2
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EXHIBIT H
District Coordinating Services Agreement
H-1
DISTRICT COORDINATINGSERVICES AGREEMENT
This DISTRICT COORDINATINGSERVICESAGREEMENT(this“Agreement”)
is made and entered as of __________, 2021 (the “Effective Date”), by and among PIKES
PEAK PARK METROPOLITAN DISTRICT NO. 1(the “CoordinatingDistrict”) and
PIKES PEAK PARK METROPOLITAN DISTRICT NOS. 2, 3, 4, and 5 (each a “Financing
District,” and collectively the “Financing District(s)”),individually referred to herein as a
“District” or “Party” or, the Coordinating District and the Financing Districts collectively referred
to herein as the “Districts” or “Parties,” as the context indicates. The Districts are each quasi-
municipal corporations and political subdivisions of the State of Colorado.
RECITALS
WHEREAS, the Districts have been duly and validly organized as quasi-municipal
corporations and political subdivisions of the State of Colorado, in accordance with the provisions
of §§ 32-1-101, et seq., Colorado Revised Statutes (the “Special District Act”), with the power to
provide for the financing, construction, installation, operation and maintenance of public
infrastructure and improvements, as described in the Special District Act, within and without their
respective boundaries, as authorized and in accordance with the Service Plan for the Districts, as
the same may be amended from time to time (the “Service Plan”); and
WHEREAS, pursuant to the Colorado Constitution Article XIV, Section 18(2)(a), and
§ 29-1-203, C.R.S., the Districts may cooperate or contract with each other to provide any function,
service or facility lawfully authorized to each, and any such contract may provide, inter alia, for
the sharing of costs, the imposition of taxes, and the incurring of debt; and
WHEREAS, § 29-1-201, C.R.S., permits and encourages governments to make the most
efficient and effective use of their powers and responsibilities by cooperating and contracting with
other governments; and
WHEREAS, pursuant to § 32-1-1001(1)(d)(I), C.R.S., the Districts are empowered to enter
into contracts and agreements affecting the affairs of the Districts; and
WHEREAS, the Districts were organized for the purpose of providing for the financing,
construction, installation, operation and maintenance of public infrastructure and improvements
serving an approximately seventy-four (74) acre mixed use development in the City of Pueblo (the
“City”), Pueblo County (the “County”), Colorado, referred to as “Pikes Peak Park Development”
(the “Development”); and
WHEREAS, at elections of the qualified electors of each of the Districts, duly called and
held on ____________ (the “Election”), in accordance with law and pursuant to due notice, a
majority of those qualified to vote and voting at the Election voted in favor of, inter alia, the
imposition of taxes for the purpose of providing certain public improvements and facilities (such
public improvements and facilities, to the extent authorized by the Service Plan, are referred to
herein as the “Public Improvements”), and entering into intergovernmental agreements or other
1
2354.2000; 1137650
contracts, without limit as to term, with other governmental entities and political subdivisions of
the state; and
WHEREAS, it is anticipated that certain of the Public Improvements will be dedicated or
otherwise conveyed to the City, the County, or other public entity, or to an owners’ association
within the boundaries of the Districts, and that the Coordinating District: (i) will own, operate and
maintain all Public Improvements within the boundaries of the Districts that are not dedicated to
the City, County, any other public entity, or an owners’ association; and (ii) may provide trash
service, architectural review, and covenant enforcement services to all or a portion of the property
within the boundaries of the Districts; and
WHEREAS, the Districts have evaluated their respective roles, responsibilities and
obligations with respect to the provision of administrative services, and ownership, operation and
maintenance of certain of the Public Improvements, and desire to enter into this Agreement for the
purpose of establishing the respective obligations of the Districts with respect to the coordination,
oversight, and funding of certain administrative costs of the Districts and costs related to the
continued operation and maintenance of certain of the Public Improvements within such Districts
which serve, and are for the benefit of, the Districts and the residents and taxpayers thereof; and
WHEREAS, based on the integrated nature of the Public Improvements and that the
Districts are part of an integrated project and coordination is necessary to maintain the integrity of
the project, the Districts have independently determined that implementation of this Agreement is
essential to the orderly administration of the affairs of the Districts and the coordinated operation
and maintenance of Public Improvements benefiting the Districts, their residents and taxpayers;
and
WHEREAS, the Districts have determined that coordination is also necessary to allow the
Districts to operate in the most cost effective manner and to take advantage of economies of scale
by eliminating the duplication of costs that would result without such coordination; and
\[OPTION: WHEREAS, the Districts intend on entering into a Pledge Agreement which
agreement will govern the roles, responsibilities and obligations of the Districts with respectto the
financing of capital costs related to the Public Improvements; and
\[OPTION: WHEREAS, the Districts anticipate that, upon completion of the
Development, the Districts will cooperate to consolidate or otherwise convey maintenance and
operations to only one District; and\]
WHEREAS, the Districts acknowledge that this Agreement does not impose any
obligations on the Districts with respect to capital costs for the Public Improvements; and
WHEREAS, it is in the best interest of the Districts and for the public health, safety,
convenience, and welfare of the residents of the Districts and of the general public that the Districts
enter into this Agreement for the purpose of coordination of the Administrative Services and O&M
Services, both as defined herein.
2
2354.2000; 1137650
TERMS AND CONDITIONS
NOW, THEREFORE, in consideration of the mutual covenants set forth herein, and for
other good and valuable consideration, the receipt and sufficiency of which are hereby
acknowledged, the Parties agree as follows:
1. Administrative Services. The Coordinating District agrees to perform the
administrative services described in Exhibit A, attached hereto and incorporated herein by this
reference (the “Administrative Services”), for and on behalf of the Financing Districts, in
compliance with all applicable federal, state, county and local or municipal body or agency
statutes, ordinances and regulations, provided that each Financing District observes and performs
the covenants and agreements set forth in this Agreement. The Coordinating District may suspend
or curtail Administrative Services in its discretion as necessary or appropriate to address funding
shortfalls that have occurred or are anticipated. The Coordinating District shall have the authority
to enter into service contracts with third-parties to provide any Administrative Services required
to be provided by the Coordinating District. In the event of any conflict between terms set forth
in the body of this Agreement and terms set forth in Exhibit A, the terms in the body of this
Agreement shall govern.
2. Ownership, Operation and Maintenance of Public Improvements. The
Coordinating District will own, operate and maintain all Public Improvements within the
boundaries of the Districts that are not otherwise dedicated or conveyed to the City, the County or
other public entity or owners’ association, in accordance with the Service Plan and any approved
development plans for the Project. The Coordinating District agrees to provide those operation
and maintenance services described in Exhibit B, attached hereto and incorporated herein by this
reference (the “O&M Services”) for the benefit of the Districts, provided that each Financing
District observes and performs the covenants and agreements set forth in this Agreement. The
Coordinating District may suspend or curtail O&M Services in its discretion as necessary or
appropriate to address funding shortfalls that have occurred or are anticipated. The Coordinating
District shall have the authority to enter into service contracts with third-parties to provide any
O&M Services required to be provided by the CoordinatingDistrict. The Coordinating District
may adopt rules, regulations, policies and procedures governing the Coordinating District’s
acceptance and, as applicable, reimbursement for any Public Improvements.
3. Payment for Administrative and O&M Services. The Financing Districts shall be
responsible for any and all costs, fees, charges and expensesincurred by the CoordinatingDistrict
(collectively, the “Costs”) in providing the Administrative Services and O&M Services
(collectively, the “Services”). Costs may includebut are not limited to,all fees of consultants
(including managers, accountants, engineers, attorneys, auditors, and other consultants), utility
charges, and service provider feesand charges.It is the desire and intent of the Districts that, to
the extent possible, the Costs for the Services be paid by the imposition by each Financing District
of an ad valorem mill levy against the taxable property lying within itsboundaries. Nevertheless,
nothing herein shall be construed as a limitation on the powers granted to the Financing Districts
by Colorado law to use alternative sources of revenue to paythe CoordinatingDistrict for the
Costs.
3
2354.2000; 1137650
4. Budget Process
a. Preliminary Budget. Each year the Coordinating District shall prepare and
submit to the Financing Districts a preliminary budget for the following fiscal year showing the
Services to be provided and the proposed Costs anticipated to be incurred by the Coordinating
District with respect to the Services (the “Preliminary Budget”). The Coordinating District shall
deliver the Preliminary Budget to the Financing Districts on or before October 15 of each year.
b. Budget Review and Approval. Unless otherwise agreed to by the Districts,
on or before November 1 of each year each Financing District shall either: (a) approve the
Preliminary Budget (in which case the Preliminary Budget shall become the “Final Budget” for
the applicable fiscal year, or (b) propose in writing to the Coordinating District additions to and/or
deletions from the Preliminary Budget. If any Financing District does not provide a proposal for
additions to and/or deletions from the Preliminary Budget in writing by November 1, such
Financing District shall be deemed to have approved the Preliminary Budget as presented. If any
Financing District does timely provide additions to and/or deletions from the Preliminary Budget,
the Districts shall discuss and attempt in good faith to reach an agreement with respect to the
Preliminary Budget on or before November 15 of each year.
c. Failure to Agree and Default Budget. In the event that the Coordinating
District and the Financing Districts are unable to agree with regard to any proposed additions
and/or deletions to the Preliminary Budget by November 15 of any year, then the Districts shall
submit the Preliminary Budget to a mutually selected mediator in an attempt to reach agreement
with respect to the Preliminary Budget. In the event the Districts cannot agree on a resolution to
the dispute related to the Preliminary Budget by December 1st of any year, the Preliminary Budget
with any revisions agreed to by the Districts to date shall be incorporated into and deemed to be
the Final Budget; provided, however, that such Final Budget shall not include expenditures totaling
the greater of: (1) 120% of the expenditures set forth and appropriated in the adopted budget for
the current fiscal year, as the same may have been amended; or (2) 120% of the expenditures set
forth in the Preliminary Budget that the Districts have agreed upon to date to be included in the
Final Budget for the ensuing year. The budgeting, appropriation, and payments of the amounts
called for in the Final Budget shall be made by the Financing Districts.
d. Budget Amendment. If after adoption of the Final Budget it appears to the
Coordinating District that Costs for the year will exceed amounts as set forth in the Final Budget
such that the Financing Districts will have to appropriate additional funds for the payment of the
Costs for the year, the Coordinating District shall notify the Financing Districts as soon as
reasonably practicable, and shall prepare and submit a proposed budget amendment to the Final
Budget (each a “Preliminary Budget Amendment”) to the Financing Districts for review and
comment. Within fifteen (15) days of submission of a Preliminary Budget Amendment to the
Financing Districts, each Financing District shall either: (a) approve the Preliminary Budget
Amendment (in which case the Preliminary Budget Amendment shall become the “Final Budget
Amendment”, or (b) propose in writing to the Coordinating District additions to and/or deletions
from the Preliminary Budget Amendment. If any FinancingDistrict does not provide a proposal
for additions to and/or deletions from the Preliminary Budget Amendment in writing within fifteen
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(15) days as required herein, such Financing District shall be deemed to have approved the
Preliminary Budget Amendment as presented. If any Financing District does timely provide
additions to and/or deletions from the Preliminary Budget Amendment, the Districts shall discuss
and attempt in good faith to reach an agreement with respect to the Preliminary Budget
Amendment within thirty (30) days of the submission of the Preliminary Budget Amendment to
the Financing Districts from the Coordinating District. In the event that the Coordinating District
and the Financing Districts are unable to agree with regard to any proposed additions and/or
deletions to the Preliminary Budget Amendment within the time provided herein, then the Parties
shall submit the Preliminary Budget Amendment to a mutually selected mediator in an attempt to
reach agreement with respect to a Final Budget Amendment. In the event the Districts cannot
agree on a Final Budget Amendment within the time set forth above, the Preliminary Budget
Amendment, with any revisions agreed to by the Districts to date, shall be incorporated into and
deemed to be the Final Budget Amendment; provided, however,that the Final Budget Amendment
shall not include expenditures totaling the greater of: (1) one hundred twenty percent (120%)
higher than the expenditures set forth and appropriated in Final Budget being amended by the Final
Budget Amendment, or (2) one hundred twenty percent (120%) of the expenditures set forth in the
Preliminary Budget Amendment that the Districts have agreed upon to date to be included in the
Final Budget Amendment. The budgeting, appropriation, and payments of the amounts called for
in said Final Budget Amendment shall be made by the FinancingDistricts.
5. Deposit. Unless otherwise agreed by the CoordinatingDistrict, each Financing
District, on or before the 15th day of each month, shall deposit with the Coordinating District an
amount equal to 1/12th of the annual Costs due from suchFinancing District as determined by the
Final Budget. Notwithstanding the foregoing, the Districtsacknowledge that the Financing
Districts may fund the Costs via the imposition of an ad valorem mill levy, and in such case, may
not have funds available during the first quarter of each fiscal year to make the payments set forth
herein. In such event, the Coordinating District agrees to defer collection of such amounts until
such time as the Financing Districts have collected the funds for the Costs via the collection of
taxes imposed through an ad valorem mill levy. All Costs due to the Coordinating District from
the Financing Districts shall be paid in lawful money of the United States of America by check
mailed or delivered, or by wire transfer, to the Coordinating District, or such other method as may
be mutually agreed to by the Districts. The Coordinating District shall keep a record of and account
for all deposits made by the Financing Districts in accordance with generally acceptable
accounting principles.
6. Fees and Charges.The Districts acknowledge that the Coordinating District will
incur certain direct and indirect costs associated with the provision of the O&M Services in order
to properly provide the O&M Services and to ensure that the health, safety and welfare of the
Districts and their inhabitants may be safeguarded. The Financing Districts further recognize and
acknowledge that the Coordinating District is providing the O&M Services for the direct benefit
of the Financing Districtsand the property owners within theirboundaries, and that pursuant to §
32-1-1001(1)(j)(I), C.R.S., the Coordinating District is authorized to fix and impose fees, rates,
tolls, penalties and charges for services or facilities furnished by the Coordinating District which,
until paid, shall constitute a perpetual lien on and against the property served. The Districts agree
that the CoordinatingDistrict may from time to time establish a fair and equitable fee to provide a
source of funding to pay for the O&M Services (the “User Fees”), which User Fees are to be
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reasonably related to the overall cost of providing the O&M Services, and be imposed on those
who are reasonably likely to benefit from or use the O&M Services (the “Users”). The Financing
Districts acknowledge that the Coordinating District will make a determinations as to the
appropriate User Fees, taking into account mill levy revenues to be received from the Financing
Districts in each fiscal year. The Financing Districts agree to cooperate with the Coordinating
District in the collection of all User Fees due and owing, including but not necessarily limited to
foreclosure as against the statutory perpetual lien associated with such User Fees.
7.Subject to Annual Appropriation and Budget. Notwithstanding anything contained
herein to the contrary, the Districts agree that the Districts’ obligations under this Agreement shall
extend only to monies appropriated for the purposes of this Agreement by the Board of each
District and shall not constitute a mandatory charge, requirement or liability in any ensuing fiscal
year beyond the then-current fiscal year. No provision of this Agreement shall be construed or
interpreted as a delegation of governmental powers by the Districts, or as creating a multiple-fiscal
year direct or indirect debt or other financial obligation whatsoever of the Districts, including,
without limitation, Article X, Section 20, or Article XI, Sections 1, 2 or 6 of the Constitution of
the State of Colorado.
8. Rules and Regulations. The Districts acknowledge and agree that the Coordinating
District may enact, from time to time, rules and regulations with respect to the Public
Improvements and Services. All rules and regulations, and amendments thereto, adopted and
placed in force by the Coordinating District from time to time shall be fully enforceable within all
Districts and against all Users. The Financing Districts agree to exercise authority and/or power
they may have to assist the CoordinatingDistrict in enforcing the Coordinating District’s rules and
regulations.
9. General Representations. In addition to the other representations, warranties and
covenants made by the Districts in this Agreement, the Districts make the following
representations, warranties and covenants to each other:
a. Each District has the full right, power and authority to enter into, perform
and observe this Agreement.
b. This Agreement is avalid, binding and legally enforceable obligation of the
Districts and is enforceable in accordance with its terms.
c. The Districts shall keep and perform all of the covenants and agreements
contained in this Agreement and shall take no action that could have the effect of rendering this
Agreement unenforceable in any manner.
10. Default, Remedies and Enforcement.
a. Events of Default. The violation of any provision of this Agreement by any
District, the occurrence of any one or more of the following events, and/or the existence of any
one or more of the following conditions shall constitute an “Event of Default” under this
Agreement.
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i. The failure to pay any payment when the same shall become due
and payable as provided herein and to cure such failure within three (3) business days of the giving
of notice by a District of such failure;
ii. The failure to perform or observe any other covenants, agreements,
or conditions in this Agreement on the part of any District and to cure such failure within ten (10)
days of receipt of notice from any of the other Districts of such failure; provided, however, that if
the applicable default is of a nature that the same is not reasonably susceptible of being cured
within such 10-day period, then the cure period shall extend so long as the defaulting District
commences its cure within such 10-day period and thereafter pursues the cure to completion by
the exercise of due diligence, as determined by the non-defaulting District(s);
iii. The filing of a voluntary petition under federal or state bankruptcy
or insolvency laws by a District or the appointment of a receiver for any of a District’s assets which
is not dismissed within thirty (30) days of such filing or appointment;
iv. Assignments by aFinancing District for the benefit of a creditor and
a failure to secure the release or termination of such assignments within thirty (30) days after the
making of such assignments; or
v. The dissolution, insolvency, or liquidation of a District and a failure
to cure such dissolution, insolvency or liquidation within ten (10) days of receipt of written notice.
b. Remedies on Occurrence of Events of Default. Upon the occurrence of an
Event of Default, the non-defaulting District(s) hereto shall have the following rights and
remedies:
i. In the event of breach of any provision of this Agreement, any non-
defaulting District may ask a court of competent jurisdiction to enter a writ of mandamus to compel
the Board of the defaulting District to perform its duties under this Agreement, and any non-
defaulting District may seek from a court of competent jurisdiction temporary and/or permanent
injunctions, or orders of specific performance, to compel the defaulting District to perform in
accordance with the obligations set forth under this Agreement.
ii. The non-defaulting Districts may protect and enforce their rights
under this Agreement by such suit, action, or special proceedings or remedies as they shall deem
appropriate, including without limitation any proceedings for specific performance of any
covenant or agreement contained herein, for the enforcement of any other appropriate legal or
equitable remedy, or for the recovery of damages caused by breach of this Agreement, including
attorneys’ fees and all other costs and expenses incurred in enforcing this Agreement or exercising
any available remedies. If, at any time, there shall cease to be electors in the Coordinating District,
or if no electors of the Coordinating District are willing to act as directors of the Coordinating
District, any Financing District may ask a court of competent jurisdiction to designate the proper
persons to assume control of the Coordinating District for purposes of causing the performance of
the Coordinating District’s obligations under this Agreement.
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iii.In the event the Event of Default is non-payment by a Financing
District, the CoordinatingDistrict may:
(a) Suspend the provision of the Services until such time as such
Financing District cures such Event of Default; and/or
(b) Impose User Fees directly upon the Users for the provision
of the O&M Services in lieu of collecting the Costs related to the O&M Services from such
Financing District. In such event, methods of collection of the User Fees shall be determined by
the Coordinating District. The Coordinating District shall have the right to delegate or assign such
impositions and collection power to a billing or service entity of its choice.
iv. To terminate this Agreement for any Event of Default that causes
the non-defaulting District(s) irreparable harm material to their aggregate interests under this
Agreement.
v. To take or cause to be taken such other actions as the non-defaulting
District(s) reasonably deem necessary.
c. Delay or Omission No Waiver. No delay or omission of any District to
exercise any right or power accruing upon any Event of Default shall exhaust or impair any such
right or power or shall be construed to be a waiver of any such Event of Default, or acquiescence
therein.
d. No Waiver of One Default to Affect Another; All Remedies Cumulative.
No waiver of any Event of Default hereunder by any District shall extend to or affect any
subsequent or any other then existing Event of Default or shall impair any rights or remedies
consequent thereon. All rights and remedies of the non-defaulting District(s) provided herein may
be exercised with or without notice, shall be cumulative, may be exercised separately, concurrently
or repeatedly, and the exercise of any such right or remedy shall not affect or impair the exercise
of any other right or remedy.
11. Termination. The Districts acknowledge that they are part of anintegrated project
and community, that the Public Improvementsarenot easily partitioned among the Districtsand
that cooperation in the termination processwill be necessary to ensure that the integrity and quality
of the community is maintained.
a. Administrative Services. A Financing District may terminate this
Agreement as it relates to the provision of Administrative Services by the Coordinating District
for thatFinancing District upon ninety (90) days’ written notice to the Coordinating District. If
this Agreement is terminated by any Financing District in relation to Administrative Services, the
Coordinating District shall be paid for Administrative Services performed for that Financing
District prior to such termination. In the event of termination of the Administrative Services, as
of the effective date thereof, the Coordinating District shall be fully relieved of any and all
obligation to provide such Administrative Services.
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b. O&M Services. The Financing Districts’ obligation to remit revenues to
the Coordinating District, and the Coordinating District’s obligation to provide the O&M Services,
shall only terminate after a written notice has been provided by one of the Districts to the other
Districts and an agreement is approved by each of the Financing Districts setting forththe matters
required in this Section 11(b) (the “Termination Agreement”). It shall be required that any such
Termination Agreement contain provisions to ensure that the Public Improvements are operated
effectively and economically and that the public health, safety, prosperity, and general welfareof
the residents and property owners within the Districts will be better served by the termination.
Such Termination Agreement shall be required to include: (1) a plan for the manner in which
ownership of the Public Improvements and ownership and maintenance shall be allocated and
transferred as between the Districts; (2) a plan for payment associated with any outstanding
obligations of the Coordinating District, as the same are incurred prior to the proposed date of
termination; (3) to the extent any of the Public Improvements have been financed directly by the
Coordinating District and such obligations remain outstanding, a plan for the payment of all such
obligations and/or debts; and (4) the manner in which outstanding agreements of the Coordinating
District may be terminated, cancelled, assigned or otherwise handled. The Termination Agreement
shall be required to include an indemnification from the Financing Districts to the Coordinating
District, which shall be acceptable to the Coordinating District and indemnify it against all injuries,
losses and other events of damage associated with any such outstanding agreements.
In the event the Districts are not able to reach an agreement, they shall submit the issues to
mediation and shall make a good faith effort to come to an agreement with the intent of reaching
a cooperative solution that will best serve the residents and property owners of the Districts, as a
whole. At such time as the provisions of the Termination Agreement are finalized in compliance
with the requirements above, the Public Improvements shall be transferred in accordance with the
provisions of the Termination Agreement and the Coordinating District shall be fully relieved of
all further obligations absent any such obligations being specifically agreed to by the Coordinating
District pursuant to the terms of the Termination Agreement.
12. Miscellaneous.
a. Relationship of Parties. This Agreement does not and shall not be construed
as creating a joint venture, partnership, or employer-employee relationship between the Districts.
The Districts intend that this Agreement be interpreted as creating only an ordinary contractual
relationship between them, without any fiduciary or other special duties. The Districts hereby
incorporate the RECITALS into this Agreement. It is also agreed that the conduct and control of
the work and functions required by this Agreement shall lie solely with the CoordinatingDistrict
which shall be free to exercise reasonable discretion in the performance of its duties under this
Agreement. No District shall, with respect to any activity, be considered an agent or employee of
any other District.
b. Assignment. Except as set forth herein or as contemplated in the Service
Plan, neither this Agreement, nor any of a District’s rights, obligations, duties or authority
hereunder may be assigned in whole or in part by any District without the prior written consent of
all the other Districts. Any such attempt of assignment without the requisite consent shall be
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deemed void and of no force and effect at the election of any District with consent rights. Consent
to one assignment shall not be deemed to be consent to any subsequent assignment, nor the waiver
of any right to consent to such subsequent assignment. Notwithstanding, nothing contained herein
shall prohibit the Coordinating District from engaging contractors, consultants, employees or other
third parties to perform the Services or any portion thereof, on behalf of the Coordinating District.
c. Modification. This Agreement may be modified, amended, changed or
terminated, except as otherwise provided herein, in whole or in part, only by an agreement in
writing duly authorized and executed by the Districts. No consent of any third party shall be
required for the negotiation and execution of any such agreement.
d. Integration. This Agreement contains the entire agreement betweenand
amongthe Districts regarding the subject matter hereof, and no statement, promise or inducement
made by any District or the agent of any District that is not contained in this Agreement or separate
written instrument shall be valid or binding.
e. Severability. If any covenant, term, condition or provision ofthis
Agreement shall, for any reason, be held to be invalidor unenforceable, the invalidity or
unenforceability of such covenant, term, condition or provision shall not affect anyother
provision contained in the Agreement, the intention being that such provisions are severable. In
addition, in lieu of such void or unenforceable provision, there shall automatically be added as part
of this Agreement a provision similar in terms to such illegal, invalid or unenforceable provision
so that the resulting reformed provision is legal, valid and enforceable.
f.District Dissolution. In the event any District seeks to dissolve pursuant to
§§ 32-1-701, et seq., C.R.S., as amended, it shall provide written notification of the filing or
application for dissolution to the other Districts concurrently with such filing.No District shall
seek to dissolve so long as this Agreement is in effect without the prior written consent of the other
Districts.
g. Survival of Obligations. Unfulfilled obligations of the Districts arising
under this Agreement shall be deemed to survive the expiration of this Agreement or termination
of this Agreement by court order. Said obligations shall be binding upon and inure to the benefit
of the Districts and their respective successors and assigns.
h. Governing Law. This Agreement shall be governed and construed in
accordance with the laws of the State of Colorado. Venue shall be proper in the county in which
the Districts are located.
i. Headings for Convenience Only. The headings, captions and titles
contained herein are intended for convenience and reference only and are not intended to construe
the provisions hereof.
j. Time Is of the Essence. Time is of the essence hereof; provided, however,
that if the last day permitted or the date otherwise determined for the performance of any act
required or permitted under this Agreement falls on a Saturday, Sunday or legal holiday, the time
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for performance shall be extended to the next succeeding business day, unless otherwise expressly
stated.
k. Persons Interested Herein. Nothing expressed or implied in this Agreement
is intended or shall be construed to confer upon, or to give to, any Person other than the Districts,
any right, remedy, or claim under or by reason of this Agreement or any covenants, terms,
conditions, or provisions thereof, and all of the covenants, terms, conditions, and provisions in this
Agreement by and on behalf of the Districts shall be for the sole and exclusive benefit of the
Districts acting through their respective Boards.This Agreement shall be construed as an
intergovernmental agreement among the Districts only. It is expressly agreed by the Districts that
no Person other than the Financing Districtsshall obtain any enforceable rights to service from the
Coordinating District, and, to this end, it is expressly declared by the Districts that no Person shall
be construed as a third party beneficiary of any kind of this Agreement except as expressly stated
herein.
l. Notices. Except as otherwise provided herein, all notices required under
this Agreement shall be in writing and shall be (a) hand-delivered, and in such instance, considered
effective upon delivery, (b) sent by registered or certified mail, return receipt requested, postage
prepaid, and in such instance, considered effective seventy-two (72) hours after deposit in the
United States mail with the proper address as set forth below, (c) sent by reputable overnight
courier, and in such instance, considered effective on the next business day, or (d) sent via email,
and in such instance considered effective upon receipt of an electronic delivery confirmation with
a hard copy to be sent no later than three (3) business days after electronic delivery confirmation
via one of the delivery methods specified in (a), (b) or (c) of this sentence, to the addresses of the
Parties herein set forth. Any party by notice so given may change the address to which future
notices shall be sent.
Coordinating District: Pikes Peak Park District No. 1
White Bear Ankele Tanaka & Waldron
Attorneys at Law
2154 East Commons Avenue, Suite 2000
Centennial, Colorado 80122
Attention: Blair M. Dickhoner, Esq.
(303) 858-1800 (phone)
(303) 858-1801 (fax)
bdickhoner@wbapc.com
Financing Districts: Pikes Peak Park District Nos. 2, 3, 4, and 5
White Bear Ankele Tanaka & Waldron
Attorneys at Law
2154 East Commons Avenue, Suite 2000
Centennial, Colorado 80122
Attention: Blair M. Dickhoner, Esq.
(303) 858-1800 (phone)
(303) 858-1801 (fax)
bdickhoner@wbapc.com
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m. District Records. The Districts shall have the right to access and review
each other’s records and accounts, at reasonable times during the Districts’regular office hours,
for purposes of determining compliance by the Districts with the terms of this Agreement. Such
access shall be subject to the provisions of Public Records Act of the State of Colorado contained
in §§ 24-72-101, et seq., C.R.S. and any policies adopted by the District. In the event of disputes
or litigation between the Parties hereto, all access and requests for such records shall be made in
compliance with the Public Records Actand any applicable discovery rules.
n. Recovery of Costs. In the event of any litigation between or among the
Districts hereto concerning the subject matter hereof, the prevailingDistrict(s) in such litigation
shall receive from the losing District(s), in addition to the amount of any judgment or other award
entered therein, all reasonable costs and expenses incurred by the prevailing District(s) in such
litigation, including reasonable attorneys’ fees.
o. Compliance with Law. The Districts agree to comply with all federal, state
and local laws, rules and regulations which are now, or in the future may become applicable to the
Districts, to their business or operations, or to services required to be provided by this Agreement.
p. Instruments of Further Assurance. The Districts each covenant that they
will do, execute, acknowledge, and deliver or cause to be done, executed, acknowledged, and
delivered, such acts, instruments, and transfers as may reasonably be required for the performance
of their obligations hereunder.
q. Governmental Immunity. Nothing in this Agreement shall be construed to
waive, limit, or otherwise modify, in whole or in part, any governmental immunity that may be
available by law to the District, its respective officials, employees, contractors, or agents, or any other
person acting on behalf of the District and, in particular, governmental immunity afforded or available
to the District pursuant to the Colorado Governmental Immunity Act, §§ 24-10-101, et seq., C.R.S.
r.Counterpart Execution. This Agreement may be executed in several
counterparts, each of which shall be deemed an original, and all of which together shall constitute
one and the same instrument.
s. Negotiated Provisions. This Agreement shall not be construed more strictly
against one Party than against another, it being acknowledged that each Party has contributed
substantially and materially to the preparation of this Agreement.
\[Remainder of page intentionally left blank\]
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IN WITNESS WHEREOF, the Districts hereto have executed this Agreement as of the day
and year first above written.
(Signature Pages Follow)
PIKES PEAK PARKMETROPOLITAN
DISTRICTNO. 1
By:
President\[Officer of the District\]
ATTEST:
Secretary \[or blank\]
APPROVED AS TO FORM:
W HITE B EAR A NKELE T ANAKA & W ALDRON
Attorneys at Law
General Counsel to Pikes Peak Park Metropolitan
District No. 1
PIKES PEAK PARKMETROPOLITAN
DISTRICT NO. 2
By:
President\[Officer of the District\]
ATTEST:
Secretary \[or blank\]
PIKES PEAK PARK METROPOLITAN
DISTRICT NO. 3
By:
President\[Officer of the District\]
ATTEST:
Secretary \[or blank\]
PIKES PEAK PARK METROPOLITAN
DISTRICT NO. 4
By:
President \[Officer of the District\]
ATTEST:
Secretary \[or blank\]
PIKES PEAK PARK METROPOLITAN
DISTRICT NO. 5
By:
President \[Officer of the District\]
ATTEST:
Secretary \[or blank\]
EXHIBIT A
ADMINISTRATIVE SERVICES
TO BE PROVIDED BY THE COORDINATING DISTRICT
1. Serve as the “official custodian”and repository for the Financing Districts’
records, including, but not limited to, providing file space, incidental office supplies and
photocopying, meeting facilities and reception services.
2. Coordination of all Board meetings to include:
1. Preparation and distribution of agenda and information packets.
2. Preparation and distribution of meeting minutes.
3. Preparation, filing and posting of legal notices required in
conjunction with the meeting.
4. Other details incidental to meeting preparation and follow-up.
3. Ongoing maintenance of an accessible, secure, organized and complete
filing system for the Financing Districts’ official records.
4. Monthly preparation of checks and coordination of postings with an
accounting firm.
5. Periodic coordination with an accounting firm for financial report
preparation and review of financial reports.
6. Insurance administration, including evaluating risks, comparing coverage,
processing claims, completing applications, monitoring expiration dates, processing routine
written and telephone correspondence, etc., and ascertaining that all contractors and subcontractors
maintain required coverage for the Financing Districts’ benefit.
7. Election administration, including preparation of election materials,
publications, legal notices, pleadings, conducting training sessions for election judges, and
generally assisting in conducting the election.
8. Budget preparation, including preparation of proposed budget in
coordination with an accounting firm, preparation of required and necessary publications, legal
notices, resolutions, certifications, notifications and correspondence associated with the adoption
of the annual budget and certification of the tax levy.
9. Response to inquiries, questions and requests for information from the
Financing Districts’ property owners, residents and others.
Exhibit A, Page 1
10. Drafting proposals, bidding contract and construction administration, and
supervision of contractors.
11. Analysis of financial condition and alternative financial approaches, and
coordination and structuring of bond issue or other debt preparation.
12. Administration of the expenditure of any funds or proceeds related to any
loans, bonds, or other financial obligations issued by one or more of the Districts.
13. Oversight of investment of the Districts’ funds based on investment policies
in accordance with state law.
14. Provide liaison and coordination with other governments.
15. Coordinate activities and provide information as requested to an external
auditor engaged by the Coordinating District Board.
16. Supervise and ensure contract compliance of all service contractors.
17. Coordinate legal, accounting, management, engineering and other
professional services.
18. Assist any auditors in the preparation of its annual audit as required by the
laws of the State of Colorado.
19. Advise and assist the Financing Districts by analyzing the Financing
Districts’ long and short-term financial needs and presenting the Financing Districts with long and
short-term financial proposals (including structuring of bond or other forms of debt issuance) to
meet those needs.
20. Provide emergency communication services for the Coordinating District’s
facilities.
21. Perform such other services as may from time to time be reasonably
necessary in furtherance of securing the Financing Districts’ compliance with all applicable federal
and state statutes and regulations and with applicable county and local laws; provided, however,
that any and all expenditures in furtherance of these services shall be made and reimbursed in
accordance with this Agreement.
22. Contracting for the design, planning, engineering, construction and/or
acquisition, management, landscape architecture and engineering, soil testing and inspection, and
line and systems testing and inspection attributable to the Public Improvements.
23. Obtaining any and all real property interests necessary for the provision of
the Public Improvements.
Exhibit A, Page 2
24. Obtaining any and all governmental and/or administrative approvals
necessary to the provision of the Public Improvements, including provision for the payment of fees
associated therewith.
25. Performing and/or contracting for construction administration of
construction contracts by which the Public Improvements are constructed.
26. Contracting for the acquisition of water rights to the extent necessary for
the provision of the Public Improvements.
27. Administering collection of any amounts due to the Districts under any cost
recovery or other reimbursement agreement relating to the Public Improvements.
28. Engagement of consultants necessary in connection with provision of the
Administrative Services, including attorneys, accountants, engineers, managers, architects, soils
consultants, and any other consultant determined by the Coordinating District to be necessary or
appropriate to the provision of the Administrative Services.
29. In addition to these services, when other services are necessary in the
opinion of the Coordinating District, the Coordinating District may recommend the same to the
Financing Districts. The Coordinating District may, with the approval of the Financing Districts,
provide any Administrative Services to the Financing Districts in lieu of retaining consultants or
contractors to provide those services.
Exhibit A, Page 3
EXHIBIT B
O&M SERVICES
TO BE PERFORMED BY THE COORDINATING DISTRICT
1. Operation and maintenance of any Public Improvements not otherwise dedicated
or conveyed to any other governmental entity or owners association for the benefit of the Districts.
2. Maintain common areas, parks, entry monuments, landscaping, open space tracts,
recreational facilities and other community amenities.
3. Provide trash service, architectural review, and covenant enforcement services (as
applicable).
Exhibit B, Page 1
EXHIBIT I
Notice of SpecialDistrictDisclosure Form
I-1
WHEN RECORDED RETURN TO:
W HITE B EAR A NKELE T ANAKA & W ALDRON
2154 East Commons Avenue, Suite 2000
Centennial, CO 80122
Pikes Peak Park Metropolitan District Nos. 1-5
(In the City of Pueblo, Pueblo County, Colorado)
SPECIAL DISTRICT PUBLIC DISCLOSURE
Pursuant to § 32-1-104.8 C.R.S.
Name of Districts: Pikes Peak ParkMetropolitan District Nos.1-5 (the “Districts”)
Contact Information for Districts:White Bear Ankele Tanaka & Waldron
2154 E. Commons Avenue, Ste. 2000
Centennial, Colorado 80122
303.858.1800
Type of Districts Metropolitan districtsorganized pursuant to C.R.S. 32-1-101 et seq.The
Districts will provide operations and maintenance of certain public
improvements within the Pikes Peak Park development, which operations
and maintenance functions may be provided through intergovernmental
agreements.
Identify Districts’ Improvements Streets and safety protection improvements
Financed by Proposed Bonds: On and off-site utilities, including water and wastewater improvements
Storm Drainage improvements
Recreational facilities and park improvements, including, but not limited to,
entry parks, neighborhood parks, pocket parks, trails and pools
Landscaping within public right-of-way
Fire protection improvements including, but limited to, a fire station
Any other improvements authorized by the Special District Act, Article 1,
Title 32, C.R.S., subject to the limitations contained in the District’s Service
Plan.
Identify Services/Facilities Park and recreation related improvements, maintenance of landscaping
Operated/Maintained by Districts: within public right-of-way, including but not limited to street trees and
streetscape improvements, the provision of covenant control and
enforcement services to the extent such covenant control functions are not
provided by property owners associations within Pikes Peak Park
development.
2354.2000: 1137653
Mill Levy Cap: Maximum Debt Mill Levy = sixty (60) mills for Districts Nos. 1-5
Maximum Operating Mill Levy = No maximum – set by Board of Directors
(Note: This District may or may not be
to meet annual costs
certifying a mill levy at the time of
your purchase. Please verify by
The Maximum Debt Mill Levy shall be subject to a Mill Levy Adjustment.
contacting the District.)
Mill Levy Adjustment means, on or after January 1, 2019, if there are
changes in the method of calculating assessed valuation or any
constitutionally mandated tax credit, cut or abatement, the Maximum Debt
Mill Levy may be increased or decreased to reflect such changes, such
increases and decreases to be determined by the Board of Directors of the
District 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, 2019, are
neither diminished nor enhanced as a result of such changes. For purposes
of the foregoing, a change in the ratio of actual valuation shall be deemed to
be a change in the method of calculating assessed valuation.
Authorized Debt of the Districts per $,000,000.00.
Service Plan:
Voter Authorized Debt per Election for $,000,000 for Street Improvements
each District: $,000,000 for Parks and Recreation Improvements
$,000,000 for Water Improvements
$,000,000 for Sanitation Improvements
$,000,000 for Transportation Improvements
$,000,000 for Mosquito Control
$,000,000 for Safety Protection Improvements
$,000,000 for Security Improvements
$,000,000 for Operations and Maintenance Debt
$,000,000 for Refunding
$,000,000 for District Intergovernmental Agreements as Debt
$,000,000 for Reimbursement Agreements
$,000,000 for Construction Agreements
District Boundaries: A map of the Districts’ boundaries is attached hereto as Exhibit A. Please
note that the Districts’ boundaries may change from time to time. Please
contact the Districts for the latest information.
Sample Calculation of Debt Mill Levy Assumptions:
Cap for a Residential Property
Market value is $250,000
Debt Mill levy cap is 60 mills
Calculation:
$250,000 x .0715 = $17,875 (Assessed Valuation)
$17,875 x .060 mills = $1,0725.5 per year in taxes owed solely to the
Special District (does not include operations and maintenance mill levy)
NOTICE OF PUBLIC HEARINGON CONSOLIDATED SERVICE PLAN
IN RE THE ORGANIZATION OF PIKES PEAK PARKMETROPOLITAN DISTRICT NOS. 1-5,
CITY AND COUNTY OF PUEBLO, STATE OF COLORADO
NOTICE IS HEREBY GIVENthat,pursuant to §32-1-204(1), C.R.S., aConsolidatedService Plan
(the “Service Plan”) for the proposed Pikes Peak Park Metropolitan District Nos.1-5(each a
“District”)hasbeen filed with the City of Pueblo(the “City”).
A public hearing on theService Plan will be held by the City Council onSeptember13, 2021, at
7:00p.m., at Pueblo Memorial Hall, 1 City Hall Place, Pueblo, CO 81003.
The purpose of the hearing isto consider the Service Plan and to form a basis for adopting a
resolution approving, conditionally approving or disapproving the Service Plan. The proposed
Districtswill be metropolitan districtsthat may provide for the financing, design, acquisition,
installation, construction, operation, and maintenance of certain public improvementssuch as
water, sanitary sewer, street, traffic andsafety control, drainage and stormwater, parks and
recreation, transportation, and television relay and translation, mosquito and pest control, covenant
enforcement, and security, as authorized ineachDistrict’s Service Plan and the Colorado Special
District Act. A total mill levy cap of sixty (60)mills is proposed for eachDistrict, subject to certain
adjustments and release provisions set forth in the Service Plan.
A general description of the land contained within the boundaries of the proposed Districtsis as
follows: East of Pueblo Boulevard and North of W. 24th Street in the City and County of Pueblo.
Pursuant to §32-1-203(3.5), C.R.S.,any person owning property in theproposed Districtsmay
request that such property be excluded from the Districtsby submitting such request to the the City
no later than ten days prior to the public hearing.
BY ORDER OF THE CITY COUNCIL OF PUEBLO
Published In:Pueblo Chieftain
Published On:August 24, 2021
2401.0003; 1145949
Notice for Publication