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HomeMy WebLinkAbout14833RESOLUTION NO. 14833 A RESOLUTION APPROVING THE SERVICE PLAN FOR WILDHORSE METROPOLITAN DISTRICT NOS. 1-5 WHEREAS, the Wildhorse Metropolitan District Nos. 1-5 was filed with the City Clerk (the “City Clerk”) of the City of Pueblo, a 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 March 28, 2022; 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 March 6, 2022 and March 12, 2022; 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 Wildhorse 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 March 28, 2022 BY: Larry Atencio MEMBER OF CITY COUNCIL APPROVED: PRESIDENT OF CITY COUNCIL ATTESTED BY: CITY CLERK City Clerk’s Office Item # K-1 BACKGROUND PAPER FOR PROPOSED RESOLUTION COUNCIL MEETING DATE: March 28, 2022 TO: President Heather Graham 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 WILDHORSE METROPOLITAN DISTRICT NOS. 1-5 SUMMARY: The property owner, Wild Horse Land and Holdings, LLC, who is the proponent for the creation of the Wildhorse Metropolitan Districts Nos.1-5 established under Title 32 of the Colorado Revised Statutes have submitted a Service Plan to the City for the proposed districts. The areas where the districts would be established totals approximately 179 acres. The properties were annexed into the City of Pueblo on January 24, 2022, by Ordinance Nos. 10103 and 10104. A master plan for the property was approved as the Wildhorse Overall Development Plan by the City’s Planning and Zoning Commission on March 9, 2022. 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 Wildhorse 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 located generally of the intersection of Colorado SH45 (Pueblo Boulevard) and US Highway 50W in the City and County of Pueblo. The Service Plan encompasses the areas of the five metropolitan districts that coincides with the boundary of the Wildhorse Annexation Nos 1 and 2. The Service Plan contains the finance, 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 board 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 description of the proposed services, financial analyses and general engineering plans showing how proposed facilities and services will be provided and financed. The plan provides a general description of the facilities to be constructed, general estimated costs, and the standards of such construction, including a statement of how the facility and service standards of the Districts are compliant with facility and service standards of the City. 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. Wildhorse Metropolitan Districts Nos. 1-5 will be organized to finance, construct, own, manage and operate the public improvements throughout the development areas. The Coordinating District may 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 Development that are not otherwise dedicated or conveyed to the City, the County, or other public entity or owners’ association. The Financing Districts (District No. 2, District No. 3, District No. 4, and District No. 5) will be responsible for financing its respective share of the improvements and associated operations and maintenance costs, as described in the respective plan for each Financing District. The area proposed to be included within the boundaries of District No. 1, the Coordinating District, will initially contain approximately 18.66 acres. The area proposed to be included within the boundaries of District No. 2, a Financing District, will initially contain approximately 26.93 acres. The area proposed to be included within the boundaries of District No. 3, a Financing District, will initially contain approximately 53.86 acres. The area proposed to be included within the boundaries of District No. 4, a Financing District, will initially contain approximately 13.62 acres. The area proposed to be included within the boundaries of District No. 5, a Financing District, will initially contain approximately 66.26 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 provides for the design, acquisition, construction, installation and financing of certain water, sanitation, street, safety protection, park and recreation, transportation, mosquito control, security, 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 district. 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 district 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 fifty (50) 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 November 2022. RECOMMENDATION: Approval of the Resolution. Attachments: Services Plan - Wildhorse Metropolitan District, Nos. 1-5 Service Plan Review Application Legal Notice for Public Hearing on Service Plan CONSOLIDATED SERVICE PLAN FOR WILDHORSE METROPOLITAN DISTRICT NOS. 1-5 CITY OF PUEBLO, COLORADO Prepared by: SPENCER FANE LLP 1700 Lincoln Street, Suite 2000 Denver, Colorado 80202 Submitted on: February 16, 2022 Approved on: , 2022 TABLE OF CONTENTS I. INTRODUCTION .................................................................................................................. 5 II. PURPOSE OF THE DISTRICT ............................................................................................. 7 III. PROPOSED STRUCTURE .................................................................................................... 7 IV. DISTRICT BOUNDARIES/MAPS ........................................................................................ 8 V. PROPOSED LAND USE/POPULATION PROJECTIONS .................................................. 9 VI. DESCRIPTION OF TYPES OF IMPROVEMENTS AND PROPOSED SERVICES ......... 10 Types of Improvements ......................................................................................................10 1. Sanitation ...................................................................................................................11 2. Water..........................................................................................................................11 3. Streets.........................................................................................................................12 4. Safety Protection ........................................................................................................12 5. Park and Recreation ...................................................................................................13 6. Transportation ............................................................................................................13 7. Mosquito Control ...................................................................................................... 14 8. Fire Protection ........................................................................................................... 14 9. Security ..................................................................................................................... 14 10. Other Powers ............................................................................................................. 15 Standards of Construction/Statement of Compliance ...................................................... 16 Limitations of the Districts Powers ................................................................................... 17 Disclaimer ...........................................................................................................................18 VII. DISSOLUTION/CONSOLIDATION ..................................................................................19 VIII. PROPOSED AGREEMENTS .............................................................................................. 19 Coordinated Services of Districts ....................................................................................... 19 Additional Intergovernmental Agreements and Agreements with Private Entities........... 20 Voter Authorization............................................................................................................ 20 IX. ASSESSED VALUATION .................................................................................................. 20 X. ESTIMATED OPERATION COSTS ................................................................................... 20 XI. FINANCIAL PLAN/PROPOSED INDEBTEDNESS .........................................................21 General ............................................................................................................................... 21 Mill Levy ........................................................................................................................23 Cost Summary and Bond Development................................................................................ 26 XII. OTHER REQUIREMENTS ................................................................................................. 27 XIII. CONCLUSION..................................................................................................................... 29 LIST OF EXHIBITS EXHIBIT A Legal Descriptions of the Distric Boundaries EXHIBIT B Legal Description of the 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 EXHIBIT F-1 Depiction of Sanitation Improvements EXHIBIT F-2 Depiction of Water Improvements EXHIBIT F-3 Depiction of Streets and Safety Protection Improvements EXHIBIT F-4 Depiction of Drainage Improvements EXHIBIT F-5 Depiction of Park and Recreation Improvements EXHIBIT G Financial Plan EXHIBIT H District Coordinating Services Agreement EXHIBIT I Notice of Special District Disclosure Form I. INTRODUCTION Metropolitan A. General Overview. This service plan Service Plan) for Wildhorse District Nos. 1-5 (collectively, the Distric and each a District) is submitted for special districts proposed to be organized to serve the needs of the Wildhorse development (the Development) within the boundaries of the City of Pueblo, Colorado Puebl or the City. A legal description of each District is contained in Exhibit A. An initial boundary map is included in Exhibit B to this Service Plan (the District 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 districts as follows: Wildhorse Metropolitan District No. 1 (the Coordinating District, Wildhorse Metropolitan District No. 2 (istrict No. 2), Wildhorse Metropolitan District No. 3 (istrict No. 3), Wildhorse Metropolitan District No. 4 (istrict No. 4), and Wildhorse Metropolitan District No. 5 (istrict No. 5). In general, it is intended that the Districts will provide for the finance, construction, operation, and maintenance of the facilities and improvements described herein. The Districts may enter into an Intergovernmental District Facilities Construction and Service Agreement (IGA, which is anticipated to be 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. Pursuant to the requirements of the Special District Control Act, Section 32-1-201 et seq., Colorado Revised Statutes C.R.S., this Service Plan consists of a financial analysis and 5 anengineeringplanshowinghowtheproposedfacilitiesandservicesoftheDistrictswillbe provided and financed. The information provided herein is preliminary in nature and is subject to change as development within the Districts evolve. 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. A financial plan showing how the proposed services are to be financed; C. A preliminary engineering or architectural survey showing how the proposed services are to be provided; D. A map of the District Boundaries, as hereafter defined, and an estimate of the population and valuation for assessment of the 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 service standards of the Districts are compliant with facility and service standards of the City and of municipalities and special districts which are interested 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 other major expenses related to the organization and initial operation of the Districts; and G. A description of any arrangement or proposed agreement with any political subdivision for the performance of any services between the Districts and such other political subdivision. 6 II. PURPOSE OF THE DISTRICT The Development is within the boundaries of the City. The property within the Service Area (defined herein) is located generally north of the intersection of Colorado 45 and US-50 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 Wild Horse Land and Holdings, LLC, or its affiliates, successors or assigns (the Develope. 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, 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 inancing Districts) will be organized to coordinate their efforts in order to provide public services to the Development in the most efficient manner possible. The Coordinating District may 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 Development that are not otherwise dedicated or conveyed to the City, the County, or other public 7 entityorownerassociation.EachFinancing Districtmayberesponsibleforanyandallcosts, 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 and commercial 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. DISTRICT BOUNDARIES/MAPS The area initially proposed to be included within the Distric Boundaries consists of approximately One Hundred and Seventy-Nine (179) acres. Legal descriptions and maps of the District Boundaries are attached hereto as Exhibit A and Exhibit B. A vicinity map of the Development is attached as Exhibit C. The District Boundaries as they may be changed from time to time, as well as the Future Inclusion Area (defined below), shall be collectively referred 8 tohereinastheServiceArea. The property described on Exhibit B, and depicted in Exhibit C, attached hereto and incorporated herein, is the uture Inclusion A. 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 District 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 the District Boundaries 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. The Development, which is approximately one hundred and seventy-nine (179) acres, is entirely within the boundaries of the City. It is anticipated that the property within the District 4 boundaries will be developed with approximately two-hundred and seventy (270) multi-family residential rental units, with a 9 projected populationof540 personsbasedonaratioof2.0residentsperhousehold.It is anticipated that the property within the District No. 1 boundaries will be developed to include an 84,500 square foot office-warehouse space. It is anticipated that the property within the District 2 boundaries will be developed to include approximately 162,500 square feet of retail space. It is anticipated that the Property within the District 3 boundaries will be developed with approximately 176,240 square feet of commercial space, a 50,000 square foot auto dealership, a 4,000 square foot auto service space, and a 160 room hotel. It is anticipated that the property within the District 5 boundaries will be developed with an approximately 439,850 square foot office-warehouse space. VI. DESCRIPTION OF TYPES OF IMPROVEMENTS AND PROPOSED SERVICES The following paragraphs provide a 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 and maintained by the Districts or other appropriate entities. A. Types of Improvements. The Districts plan to provide for the design, acquisition, construction, installation and financing of certain water, sanitation, street, safety protection, park and recreation, transportation, mosquito control, security, and fire protection improvements and services within and without the District Boundaries. This Service Plan describes those improvements anticipated for construction and 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 Exhibit E lists the improvements planned to be provided for the property within the Service Area and estimated 10 costs ofsuch facilities(theImprovements.Theimprovementsgenerally 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 and without the District Boundaries. The Districts may provide for sanitary sewage collection and transmission through the purchase of capacity in existing collection mains and transmission lines. Except as otherwise 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 City for ongoing ownership and maintenance obligations. The Districts shall have the authority to install and maintain landscaping improvements in the vicinity of said storm water improvements. 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- 11 potable localwater,transmission,anddistributionsystem,whichmay include,butshallnotbe 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 District Boundaries. 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 District Boundaries. It is anticipated that, following acceptance by the City, the City will own and maintain any streets and street improvements within the Development. 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 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 District Boundaries. Following acceptance by the appropriate entities, it is anticipated that any safety protection improvements will be transferred to the City for ownership, operation and 12 maintenance. 5. Park and Recreation. The Districts shall 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 District Boundaries. Following acceptance by the appropriate entities, it is anticipated that some of the park and recreation improvements that may be constructed by the Districts will be owned, operated, and maintained by the City and, subject to the Citys 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 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 District 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 13 ownership,operation,and maintenance. 7. Mosquito Control. The Districts shall 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 District Boundaries. It is anticipated that any mosquito control improvements will be maintained by an owns association, the Coordinating District, applicable Financing District, or the City. The Coordinating District shall have the power to provide 8. Fire Protection. 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 emergency medical 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 District boundaries. Following acceptance, the fire protection improvements and facilities will be transferred to the Fire Department for ownership, operation and maintenance. The Distric authority to provide fire protection services and facilities shall be subject to an agreement between each District 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 each Districauthority 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 Districts shall 14 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. Other Powers. In addition to the enumerated powers, the Districts shall also have the following authority: (a) Plan Modifications. To modify this Service Plan in accordance with the statutory procedures set forth in Section 32-1-207, C.R.S. (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 pace of growth, resource availability, and potential inclusions of property within the Districts in accordance with Section IV hereinabove. (c) Additional Services. Except as specifically provided herein, to provide such additional services and exercise such powers as are expressly or impliedly granted to special districts by Colorado law, including but not limited to those powers delineated in Section 32-1-1004, C.R.S., as the same may be amended from time to time. (d) Subdistricts. With the prior consent of City Council, the Districts 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 Districts into one or more areas consistent with the services, programs and facilities to be furnished therein. (e) Special Improvement Districts. With the prior consent of City Council, the Districts shall be authorized to establish special improvement districts within the 15 ServiceAreaasprovidedinSection32-1-1101(1)(g),C.R.S.,andshallhavetheauthority to exercise all powers necessary and related to such special improvement districts as permitted by Section 32-1-1101(1)(g), C.R.S. (f) Enterprises. The Distric Boards may set up enterprises to manage, fund, and operate such facilities, services, and programs as may qualify for enterprise status using the procedures and criteria provided in Article X, Section 20, Colorado State Constitution. To the extent provided by law, any enterprise established by the District Boards will remain under the control of each District Board. Standards of Construction/Statement of Compliance. Any facilities, Districts may construct pursuant to this Service Plan, if constructed, shall be which the 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 Distric 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 (DPHE) or other jurisdictions, as appropriate. 3. All streets and safety protection facilities to be dedicated to the City will be constructed in accordance with the standards and specifications of the City. 4. All storm sewers and facilities will be constructed in accordance with the standards and specifications of the City and other local jurisdictions, as appropriate. 5. All parks and recreational facilities and/or services will be constructed in accordance with engineering and design requirements appropriate for the surrounding terrain, and 16 shallbeincompliancewithstandardsoftheCityorotherlocalpublicentities,as appropriate. 6. All transportation facilities and/or services will be provided in accordance with the standards and specifications of the City, if any, or other local public entities, as appropriate. 7. All mosquito control activities and/or programs will be provided in accordance with the standards and specifications of the CDPHE, the City, and other applicable local, state and federal regulations. 8. 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 applicable local, state or federal rules and regulations. The Districts will require its engineers to implement a plan to assure that the standards by which the facilities are to be constructed are in accordance with the specifications of the City and any other party which will have jurisdiction over the design and/or construction of such facilities. Limitations of the Districts Powers 1. The Districts will ensure that any facilities which the Districts may construct pursuant to this Service Plan are designed and constructed in accordance with the standards and specifications of the City and of other governmental entities having proper jurisdiction. The Districts will obtain the Citys approval of civil engineering plans and will obtain applicable permits for construction and installation of all such facilities prior to performing all such work. 2. The Districts shall not exercise their power of eminent domain without the prior written consent of the City Council. This restriction on the Distric 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 Distric sovereign powers and shall not negatively affect the 17 DistricstatusasapoliticalsubdivisionoftheStateasconferredbytheSpecialDistrictAct. Disclaimer. 1. The financial information and other representations contained in this Service Plan have not been independently reviewed or verified by the City and the City disclaims any opinion as to the accuracy or reliability of same. 2. The City has no legal obligation to accept, for ownership and maintenance purposes, any facilities which the Districts may construct pursuant to this Service Plan. 3. The City is not and never shall be obligated to pay any 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 insubstantially 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. 18 VII. DISSOLUTION/CONSOLIDATION At the request of Pueblo or if the Distric Boards deem it to be in 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 District facilities as the Districts have provided, (2) all of the proposed improvements and facilities have been constructed and conveyed to the City or other appropriate entity, and (3) all debt incurred for such facilities has been repaid or arrangement for repayment has been made in accordance with State law. The City Council may consent to the dissolution by resolution. Except with respect to a consolidation among the Districts, a request shall not be filed with any court to consolidate with another Title 32 district without the prior written consent of the City Council. VIII. PROPOSED AGREEMENTS Coordinated Services of Districts. As discussed in this Service Plan, the relationship between the Coordinating District and 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 19 publicimprovements andservices.Agreementsmayalsobeexecutedwithpropertyowners 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. Voter Authorization. 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 deemed necessary to effectuate the long-term plans of the Districts will be submitted to the electors of the Districts for approval. The Districts shall 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 $0. 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 Subject to the applicable warranty, the Districts intend to dedicate certain facilities constructed or acquired, to the appropriate jurisdiction for operations and maintenance. Certain facilities completed within the boundaries of the Financing Districts may be owned, operated and/or maintained by the Coordinating District. 20 There are statutory and constitutional limits on the Districability to increase 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 foregoing limitations. The Debt Mill Levy Cap, defined below, proposed for repayment of bonds does not apply to the Distric abilities to increase its mill levy as necessary for the provision of operation services to its taxpayers and service users. In addition to the operations mill levy, the Districts may also rely upon various other revenue sources authorized by law and this Service Plan to offset the expenses of each District 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 Distric bonds issued for capital improvements. XI. FINANCIAL PLAN/PROPOSED INDEBTEDNESS 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 Districts have the ability to 21 financetheproposedimprovements identifiedhereinandwillbecapableofdischargingthe 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 by the Districts will be primarily financed by the Districissuance of general obligation bonds, revenue bonds, or other multiple fiscal year obligations, secured by, among other 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 Seventy Million One Hundred Twenty Thousand Dollars ($70,120,000) in general obligation bonds in 2022. The bonds are projected to be refunded by new bonds which will include an additional Thirty One Million Thirty Five Thousand Five Hundred Dollars ($31,035,500) in 2023. 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 completed improvements and payment to the Developer of such construction costs, or dedication of said improvements 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 development in the Financing Districts. Each District shall have the authority to issue debt in the amount of EIGHTY MILLION DOLLARS ($80,000,000) with a total combined limit for all of the Districts of EIGHTY MILLION DOLLARS ($80,000,000) (the bt Authority). The incurrence 22 ofmultiple fiscalyeardebtobligationsinexcessoftheDebtAuthority shallbeconsidereda 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 Districts 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 such reimbursement for such amounts, the Districts must receive the report of an independent engineer or accountant confirming that the amount of the reimbursement is reasonable. Prior to the issuance of any privately placed Debt for capital related costs, 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 Districts Service Plan. We \[I\] certify that (1) the net effective interest rate (calculated as defined in Section 32-1-103(12), C.R.S.) to be borne by \[insert the designation of the Debt\] does not exceed a reasonable current \[tax-exempt\] \[taxable\] interest rate, using criteria deemed appropriate by us \[me\] and based upon our \[my\] analysis of comparable high yield securities; and (2) the structure of \[insert designation of the Debt\], including maturities and early redemption provisions, is reasonable considering the financial circumstances of the District. For purposes of the foregoing requirement, an External Financial Advisor is a consultant that: (1) advises Colorado governmental entities on matters relating to the issuance of securities by Colorado governmental entities, including matters such as the pricing, sales and marketing of such securities and the procuring of bond ratings, credit enhancement and insurance in respect of such securities; (2) shall be an underwriter, investment banker, or individual listed as a public finance advisor in the Bond Buyes Municipal Market Place; and (3) is not an officer of 23 the District. Mill Levy. The Districts may assess a mill levy on all taxable property in the District 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 funding through tax revenues resulting from the imposition of the Debt Mill Levy Cap (defined herein). The maximum mill levy the Districts may impose for the payment of principal of and interest on Debt shall be fifty (50) 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 Distric 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 24 thepropertyconveyedordedicatedtotheCityasprovidedinthisServicePlan. 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 herein. If authorized in the ballot questions, refunding bonds may be issued as determined by the Distric Boards and, if so authorized, are not subject to the Debt Authority. Further, if authorized 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. These revenue sources should be sufficient to retire the 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. A District 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. 25 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 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 purpose of funding operation and maintenance costs of the Districts. All debt issued by the Districts must be issued in compliance with the requirements of Section 32-1-1101, C.R.S. and all other requirements of 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 sold will 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 construction and project needs for bond proceeds to finance the improvements. The Financial Plan sets forth a reasonable estimate of growth within the Districts and allows the Boards 26 ofDirectorsameasureofflexibilitysuchthattheDistrictsneednotincurdebtinexcessofwhatit needs to meet a growing populations demands for facilities and services. XII. OTHER REQUIREMENTS The Districts shall 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 District Act, shall be responsible for submitting an annual report to the City Manags Office or st the Mayors Office, as applicable, no later than August 1of each year following the year in which the Order and Decree creating such 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 District Boundaries as of st December 31 of the prior year. 2. Intergovernmental Agreement with other governmental entities, either st entered into or proposed as of December 31of the prior year. st 3. Copies of each Distric rules and regulations, if any as of December 31 of the prior year. 4. A summary of any litigation which involves the Distric improvements as st of December 31 of the prior year. 5. Status of each construction of the improvements as of st December 31 of the prior year. 6. A list of all facilities and improvements constructed by each District that 27 st havebeendedicatedtoandacceptedbytheCityasofDecember31oftheprioryear. 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 Distric financial statements, for the year ending December st 31 of the previous year, prepared in accordance with generally accepted accounting principles or audit exemption, if applicable. 10. Notice of any uncured events of default by each District, which continue beyond a ninety (90) day period, under any debt 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. Monies from Other Governmental Sources. The Districts shall not apply for or accept Conservation Trust Funds, Great Outdoors Colorado Funds, or other funds available from or through governmental or nonprofit entities 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. Disclosure to Purchasers. The Districts will use all necessary and appropriate efforts to assure that all 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 Districts so 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 shall record a disclosure 28 formwiththePuebloCounty ClerkandRecorderagainstallpropertyincludedintheinitial District Boundaries and provide a recorded copy to the City Clerks Office. D. Material modifications of this Service Plan, except as contemplated herein, shall be subject to approval by the City in accordance with the provisions of Section 32-1-207, C.R.S. XIII. CONCLUSION It is submitted that this Service Plan for Wildhorse Metropolitan District Nos. 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 to the 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, within a reasonable time and on a comparable basis; F. The facility and service standards of the Districts are compatible with the facility and service standards of the City within which the Districts are to be located; 29 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 proposal is in compliance with any duly adopted county, regional, or state long- range water quality management plan for the area; and I. The creation of the Districts is in the best interests of the area proposed to be served. 30 Wildhorse Metropolitan Districts No.1 Metropolitan District Boundary Legal description 01/31/2022 th A parcel of land located in the SW ¼ of Section 10, Township 20 South, Range 65 West, of the 6 Principal Meridian, said parcel being more particularly described as follows: Basis of Bearings to be the east line of the W ½ of the E ½ of the SW ¼ of Section 10, Township 20 South, th Range 65 West of the 6 Principal Meridian to bear N 01 degrees 40 minutes 27 seconds monumented , all bearings contained herein to be relative thereto. Commencing at the Southeast corner of the of the W ½ of the E ½ of SW ¼ of said Section 10; thence N 01 degrees 40 minutes 27 seconds E along the east line of the said W ½ of the E ½ of the SW ¼ of Section 10, a distance of 1,690.16 feet to the Point of Beginning; thence S 88 degrees 51 minutes 22 seconds W, a distance of 1,022.07 feet; thence along a curve to the right whose radius is 1,500.00 feet and whose center bears S 76 degrees 33 minutes 36 seconds, a distance of 171.54 feet; thence N 20 degrees 00 minutes 00 seconds E, a distance of 300.00 feet; thence along a curve to the right whose radius is 1,235.00 feet a distance of 664.97 feet to the north line of the said W ½ of the E ½ of the SW ¼ of Section 10; thence N 88 degrees 57 minutes 11 seconds E along the north line of the said W ½ of the E ½ of the SW ¼ of Section 10, a distance of 516.84 feet to the northeast corner of the said W ½ of the E ½ of the SW ¼ of Section 10; thence S 01 degrees 40 minutes 27 seconds W along the east line of the said W ½ of the E ½ of the SW ¼ of Section 10, a distance of 971.53 feet to the Point of Beginning. Containing 18.66 acres more or less. Prepared by: NORTHSTAR ENGINEERING AND SURVEYING, INC. th 111 E. 5 Street Pueblo CO. 81003 January 31, 2022 JN 1804400 Wildhorse Metropolitan Districts No. 2 Metropolitan District Boundary Legal description 01/31/2022 A parcel of land located in section 9 and the SW ¼ of Section 10, Township 20 South, Range 65 West, of th the 6 Principal Meridian, EXCEPT that portion conveyed to the State Department of Highways in rule and order recorded May 8, 1975 in Book 1813 at Page 36, said parcel being more particularly described as follows: Basis of Bearings to be the east line of the W ½ of the E ½ of the SW ¼ of Section 10, Township 20 South, th Range 65 West of the 6 Principal Meridian to bear N 01 degrees 40 minutes 27 seconds monumented , all bearings contained herein to be relative thereto. Commencing at the Southeast corner of the of the W ½ of the E ½ of SW ¼ of said Section 10; thence S 89 degrees 10 minutes 16 seconds W, along the south line of the SW ¼ of said Section 10, a distance of 612.25 feet; thence along the north line of the State Highway No. 50 right-of-way as presently located, the following four (4) courses: 1.thence N 55 degrees 35 minutes 35 seconds W, a distance of 166.17 feet; 2.thence N 23 degrees 35 minutes 46 seconds W, a distance of 141.19 feet; 3.thence N 06 degrees 04 minutes 05 seconds W, a distance of 385.19 feet; 4.thence N 74 degrees 30 minutes 12 seconds W, a distance of 140.29 feet to the Point of Beginning; thence along the north line of the State Highway No. 50 right-of-way and Lot 1, Block 1 of Hwy 50 West CDOT Maintenance Facility No. 1, as presently located, the following six (6) courses: 1.thence N 74 degrees 30 minutes 12 seconds W, a distance of 301.02 feet; 2.thence S 10 degrees 48 minutes 11 seconds W, a distance of 460.12 feet; 3.thence S 67 degrees 53 minutes 08 seconds W, a distance of 309.71 feet; 4.thence S 77 degrees 32 minutes 17 seconds W, a distance of 312.70 feet; 5.thence S 77 degrees 48 minutes 53 seconds W, a distance of 152.37 feet; 6.thence N 88 degrees 08 minutes 38 seconds W, a distance of 178.88 feet; thence N 29 degrees 39 minutes 59 seconds W, a distance of 2672.16 feet; thence N 63 degrees 10 minutes 55 seconds W, a distance of 171.72 feet; thence N 23 degrees 28 minutes 29 seconds W, a distance of 627.50 feet; thence along a curve to the left whose radius is 500.00 feet and whose center bears N 31 degrees 44 minutes 55 seconds E, a distance of 86.56 feet; thence S 68 degrees 10 minutes 13 seconds E, a distance of 872.50 feet; thence along a curve to the left whose radius is 500.00 feet a distance of 190.50 feet; thence N 90 degrees 00 minutes 00 seconds E, a distance of 152.75 feet; thence S00 degrees 00 minutes 00 seconds E, a distance of 255.86 feet to the north line of State Highway No. 50 right-of-way as presently located and the Point of Beginning. Containing 26.93 acres more or less. Prepared by: NORTHSTAR ENGINEERING AND SURVEYING, INC. th 111 E. 5 Street Pueblo CO. 81003 January 31, 2022 JN 1804400 Wildhorse Metropolitan Districts No. 3 Metropolitan District Boundary Legal description 01/31/2022 A parcel of land located in section 9 and the SW ¼ of Section 10, Township 20 South, Range 65 West, of th the 6 Principal Meridian, EXCEPT that portion conveyed to the State Department of Highways in rule and order recorded May 8, 1975 in Book 1813 at Page 36, said parcel being more particularly described as follows: Basis of Bearings to be the east line of the W ½ of the E ½ of the SW ¼ of Section 10, Township 20 South, th Range 65 West of the 6 Principal Meridian to bear N 01 degrees 40 minutes 27 seconds monumented , all bearings contained herein to be relative thereto. Beginning at the Southeast corner of the of the W ½ of the E ½ of SW ¼ of said Section 10; thence S 89 degrees 10 minutes 16 seconds W, along the south line of the SW ¼ of said Section 10, a distance of 612.25 feet; thence along the north line of the State Highway No. 50 right-of-way as presently located, the following four (4) courses: 1.thence N 55 degrees 35 minutes 35 seconds W, a distance of 166.17 feet; 2.thence N 23 degrees 35 minutes 46 seconds W, a distance of 141.19 feet; 3.thence N 06 degrees 04 minutes 05 seconds W, a distance of 385.19 feet; 4.thence N 74 degrees 30 minutes 12 seconds W, a distance of 140.29 feet; thence N 00 degrees 00 minutes 00 seconds E, a distance of 255.86 feet; thence N 90 degrees 00 minutes 00 seconds W, a distance of 152.75 feet; thence along a curve to the right whose radius is 500.00 feet a distance of 190.50 feet; thence N 68 degrees 10 minutes 13 seconds W, a distance of 872.50 feet; thence along a curve to the right whose radius is 500.00 feet a distance of 226.32 feet; thence N 49 degrees 24 minutes 52 seconds E, a distance of 69.38 feet; thence N 00 degrees 40 minutes 42 seconds E, a distance of 219.06 feet; thence N 88 degrees 51 minutes 22 seconds E, a distance of 2,309.15 feet to the east line of the W ½ of the E ½ of the SW ¼ of said Section 10; thence S 01 degrees 40 minutes 27 seconds W along the east line of the said W ½ of the E ½ of the SW ¼ of Section 10, a distance of 1,690.16 feet to the southeast corner of the said W ½ of the E ½ of the SW ¼ of Section 10 and the Point of Beginning. Containing 53.86 acres more or less. Prepared by: NORTHSTAR ENGINEERING AND SURVEYING, INC. th 111 E. 5 Street Pueblo CO. 81003 January 31, 2022 JN 1804400 Wildhorse Metropolitan Districts No. 4 Metropolitan District Boundary Legal description 01/31/2022 th A parcel of land located in section 9, Township 20 South, Range 65 West, of the 6 Principal Meridian, said parcel being more particularly described as follows: Basis of Bearings to be the east line of the W ½ of the E ½ of the SW ¼ of Section 10, Township 20 South, th Range 65 West of the 6 Principal Meridian to bear N 01 degrees 40 minutes 27 seconds monumented , all bearings contained herein to be relative thereto. Commencing at the Southeast corner of the of the W ½ of the E ½ of SW ¼ of said Section 10; thence S 89 degrees 10 minutes 16 seconds W, along the south line of the SW ¼ of said Section 10, a distance of 612.25 feet; thence along the north line of the State Highway No. 50 right-of-way and Lot 1, Block 1 of Hwy 50 West CDOT Maintenance Facility No. 1, as presently located, the following nine (9) courses: 1.thence N 55 degrees 35 minutes 35 seconds W, a distance of 166.17 feet; 2.thence N 23 degrees 35 minutes 46 seconds W, a distance of 141.19 feet; 3.thence N 06 degrees 04 minutes 05 seconds W, a distance of 385.19 feet; 4.thence N 74 degrees 30 minutes 12 seconds W, a distance of 441.31 feet; 5.thence S 10 degrees 48 minutes 11 seconds W, a distance of 460.12 feet; 6.thence S 67 degrees 53 minutes 08 seconds W, a distance of 309.71 feet; 7.thence S 77 degrees 32 minutes 17 seconds W, a distance of 312.70 feet; 8.thence S 77 degrees 48 minutes 53 seconds W, a distance of 152.37 feet; 9.thence N 88 degrees 08 minutes 38 seconds W, a distance of 178.88 feet; thence N 29 degrees 39 minutes 59 seconds W, a distance of 672.16 feet to the Point of Beginning; thence N 29 degrees 39 minutes 59 seconds W, a distance of 596.96 feet; thence N 45 degrees 34 minutes 43 seconds W, a distance of 664.66 feet; thence N 88 degrees 51 minutes 22 seconds E, a distance of 921.50 feet; thence S 36 degrees 19 minutes 40 seconds E, a distance of 37.05 feet; thence along a curve to the left whose radius is 1,019.00 feet and whose radius bears N 53 degrees 42 minutes 09 seconds E, a distance of 255.96 feet; thence S 49 degrees 24 minutes 52 seconds W, a distance of 69.38 feet; thence along a curve to the left whose radius is 500.00 feet and whose center bears N 47 degrees 45 minutes 52 seconds E, a distance of 139.77 feet; thence S 23 degrees 28 minutes 29 seconds W, a distance of 627.50 feet; thence S 63 degrees 10 minutes 55 seconds W, a distance of 171.72 feet to the Point of Beginning. Containing 13.62 acres more or less. Prepared by: NORTHSTAR ENGINEERING AND SURVEYING, INC. th 111 E. 5 Street Pueblo CO. 81003 January 31, 2022 JN 1804400 Wildhorse Metropolitan Districts No. 5 Metropolitan District Boundary Legal description 01/31/2022 A parcel of land located in section 9 and the SW ¼ of Section 10, Township 20 South, Range 65 West, of th the 6 Principal Meridian, said parcel being more particularly described as follows: Basis of Bearings to be the east line of the W ½ of the E ½ of the SW ¼ of Section 10, Township 20 South, th Range 65 West of the 6 Principal Meridian to bear N 01 degrees 40 minutes 27 seconds monumented , all bearings contained herein to be relative thereto. Commencing at the Southeast corner of the of the W ½ of the E ½ of SW ¼ of said Section 10; thence S 89 degrees 10 minutes 16 seconds W, along the south line of the SW ¼ of said Section 10, a distance of 612.25 feet; thence along the north line of the State Highway No. 50 right-of-way and Lot 1, Block 1 of Hwy 50 West CDOT Maintenance Facility No. 1, as presently located, the following nine (9) courses: 1.thence N 55 degrees 35 minutes 35 seconds W, a distance of 166.17 feet; 2.thence N 23 degrees 35 minutes 46 seconds W, a distance of 141.19 feet; 3.thence N 06 degrees 04 minutes 05 seconds W, a distance of 385.19 feet; 4.thence N 74 degrees 30 minutes 12 seconds W, a distance of 441.31 feet; 5.thence S 10 degrees 48 minutes 11 seconds W, a distance of 460.12 feet; 6.thence S 67 degrees 53 minutes 08 seconds W, a distance of 309.71 feet; 7.thence S 77 degrees 32 minutes 17 seconds W, a distance of 312.70 feet; 8.thence S 77 degrees 48 minutes 53 seconds W, a distance of 152.37 feet; 9.thence N 88 degrees 08 minutes 38 seconds W, a distance of 178.88 feet; thence N 29 degrees 39 minutes 59 seconds W, a distance of 1,269.12 feet; thence N 45 degrees 34 minutes 43 seconds W, a distance of 664.66 feet to the Point of Beginning; thence N 45 degrees 34 minutes 43 seconds W, a distance of 443.08 feet; thence N 74 degrees 06 minutes 44 seconds W, a distance of 738.34 feet; thence N 25 degrees 46 minutes 43 seconds W, a distance of 494.36 feet; thence N 11 degrees 18 minutes 19 seconds W, a distance of 290.71 feet; thence N 02 degrees 50 minutes 55 seconds E, a distance of 379.17 feet; thence S 31 degrees 39 minutes 05 seconds E, a distance of 26.62 feet; thence along a curve to the left whose radius is 2,864.93 feet and whose center bears N 58 degrees 44 minutes 59 seconds, a distance of 574.22 feet; thence S 42 degrees 46 minutes 50 seconds E, a distance of 187.77 feet to the north line of the SE ¼ of the said Section 9; thence S 89 degrees 58 minutes 03 seconds E along the north line of the SE ¼ of said Section 9, a distance of 991.15 feet to a point on the east right-of-way line of Wildhorse Road as presently located; thence S 36 degrees 19 minutes 40 seconds E along said east right-of-way line of Wildhorse Road, a distance of 1221.24 feet; thence S 88 degrees 51 minutes 22 seconds W, a distance of 921.50 feet to the Point of Beginning. AND Commencing at the Southeast corner of the of the W ½ of the E ½ of SW ¼ of said Section 10; thence N 01 degrees 40 minutes 27 seconds E along the east line of the said W ½ of the E ½ of the SW ¼ of Section 10, a distance of 1,690.16 feet; thence S 88 degrees 51 minutes 22 seconds W, a distance of 1,022.07 feet to the Point of Beginning; thence S 88 degrees 51 minutes 22 seconds W, a distance of 1,287.08 feet; thence N 00 degrees 40 minutes 42 seconds E, a distance of 979.52 feet to the north line of said SE ¼ of Section 9; thence N 89 degrees 58 minutes 22 seconds E along the said north line of the SE ¼ of Section 9, a distance of 328.94 feet to the northeast corner of the said SE ¼ of Section 9; thence N 88 degrees 54 minutes 17 seconds E along the north line of the SW ¼ of said Section 10, a distance of 1,331.50 feet to the northwest corner of the W ½ of the E ½ of the SW ¼ of said Section 10; thence N 88 degrees 57 minutes 11 seconds E along the north line of the said W ½ of the E ½ of the SW ¼ of Section 10, a distance of 148.56 feet; thence along a curve to the left whose radius is 1,235.00 feet and whose radius bears S 39 degrees 06 minutes 13 seconds E, a distance of 665.97 feet; thence S 20 degrees 00 minutes 00 seconds W, a distance of 300.00 feet; thence along a curve to the left whose radius is 1,500.00 feet a distance of 171.54 feet to the Point of Beginning. Containing 66.26 acres more or less. Prepared by: NORTHSTAR ENGINEERING AND SURVEYING, INC. th 111 E. 5 Street Pueblo CO. 81003 January 31, 2022 JN 1804400 Wildhorse -5 Inclusion Area Legal description 01/31/2022 A parcel of land located in section 9 and the SW ¼ of Section 10, Township 20 South, Range 65 West, of th the 6 Principal Meridian, EXCEPT that portion conveyed to the State Department of Highways in rule and order recorded May 8, 1975 in Book 1813 at Page 36, said parcel being more particularly described as follows: Basis of Bearings to be the east line of the W ½ of the E ½ of the SW ¼ of Section 10, Township 20 South, th Range 65 West of the 6 Principal Meridian to bear N 01 degrees 40 minutes 27 seconds monumented , all bearings contained herein to be relative thereto. Beginning at the Southeast corner of the of the W ½ of the E ½ of SW ¼ of said Section 10; thence S 89 degrees 10 minutes 16 seconds W, along the south line of the SW ¼ of said Section 10, a distance of 612.25 feet; thence along the north line of the State Highway No. 50 right-of-way and Lot 1, Block 1 of Hwy 50 West CDOT Maintenance Facility No. 1, as presently located, the following nine (9) courses: 1.thence N 55 degrees 35 minutes 35 seconds W, a distance of 166.17 feet; 2.thence N 23 degrees 35 minutes 46 seconds W, a distance of 141.19 feet; 3.thence N 06 degrees 04 minutes 05 seconds W, a distance of 385.19 feet; 4.thence N 74 degrees 30 minutes 12 seconds W, a distance of 441.31 feet; 5.thence S 10 degrees 48 minutes 11 seconds W, a distance of 460.12 feet; 6.thence S 67 degrees 53 minutes 08 seconds W, a distance of 309.71 feet; 7.thence S 77 degrees 32 minutes 17 seconds W, a distance of 312.70 feet; 8.thence S 77 degrees 48 minutes 53 seconds W, a distance of 152.37 feet; 9.thence N 88 degrees 08 minutes 38 seconds W, a distance of 178.88 feet; thence N 29 degrees 39 minutes 59 seconds W, a distance of 1,269.12 feet; thence N 45 degrees 34 minutes 43 seconds W, a distance of 1,107.74 feet; thence N 74 degrees 06 minutes 44 seconds W, a distance of 738.34 feet; thence N 25 degrees 46 minutes 43 seconds W, a distance of 494.36 feet; thence N 11 degrees 18 minutes 19 seconds W, a distance of 290.71 feet; thence N 02 degrees 50 minutes 55 seconds E, a distance of 379.17 feet; thence S 31 degrees 39 minutes 05 seconds E, a distance of 26.62 feet; thence along a curve to the left whose radius is 2,864.93 feet and whose center bears N 58 degrees 44 minutes 59 seconds, a distance of 574.22 feet; thence S 42 degrees 46 minutes 50 seconds E, a distance of 187.77 feet to the north line of the SE ¼ of the said Section 9; thence S 89 degrees 58 minutes 03 seconds E along the north line of the SE ¼ of said Section 9, a distance of 991.15 feet to a point on the east right-of-way line of Wildhorse Road as presently located; thence S 36 degrees 19 minutes 40 seconds E along said east right-of-way line of Wildhorse Road, a distance of 1,258.29 feet; thence continuing along the said east right-of-way line of Wildhorse Road along a curve to the left whose radius is 1,019.00 feet and whose center bears N 53 degrees 42 minutes 09 seconds, a distance of 255.96 feet; thence N 00 degrees 40 minutes 42 seconds E, a distance of 1,198.59 feet to the north line of said SE ¼ of Section 9; thence N 89 degrees 58 minutes 22 seconds E along the said north line of the SE ¼ of Section 9, a distance of 328.94 feet to the northeast corner of the said SE ¼ of Section 9; thence N 88 degrees 54 minutes 17 seconds E along the north line of the SW ¼ of said Section 10, a distance of 1,331.50 feet to the northwest corner of the W ½ of the E ½ of the SW ¼ of said Section 10; thence N 88 degrees 57 minutes 11 seconds E along the north line of the said W ½ of the E ½ of the SW ¼ of Section 10, a distance of 665.40 feet to the northeast corner of the said W ½ of the E ½ of the SW ¼ of Section 10; thence S 01 degrees 40 minutes 27 seconds W along the east line of the said W ½ of the E ½ of the SW ¼ of Section 10, a distance of 2,661.69 feet to the southeast corner of the said W ½ of the E ½ of the SW ¼ of Section 10 and the Point of Beginning. Containing 179.34 acres more or less. Prepared by: NORTHSTAR ENGINEERING AND SURVEYING, INC. th 111 E. 5 Street Pueblo CO. 81003 January 31, 2022 JN 1804400 5b ЏЍЋЋЍБЊ͵Ќ 5b ЏЍЋЋЍБЊ͵Ќ Service Plan Gallagherization Base Current Assumption Service Plan Mill Levy Cap Maximum Adjusted Cap Target Mill Levy Sales PIF Lodging PIF 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 et seq. \[Signature page to follow.\] WHEN RECORDED RETURN TO: , CO 80 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: Metropolitan District Nos. 1-5 (the “Districts”) Contact Information for Districts: , Colorado 80 Type of Districts Metropolitan districts organized pursuant to C.R.S. 32-1-101 et seq. The Districts will provide operations and maintenance of certain public improvements within the 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 Landscaping within public right-of-way Fire protection improvements 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 within public right-of-way, including but not limited to street trees and Operated/Maintained by Districts: streetscape improvements 2354.2000: 1137653 Mill Levy Cap: Maximum Debt Mill Levy = (0) mills for Districts Nos. 1-5 (Note: This District may or may not be Maximum Operating Mill Levy = No maximum – set by Board of Directors 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 $80,000,000 for each District with total combined limit for all Districts of $80,000,000. Service Plan: $8,000,000 forStreetImprovements Voter Authorized Debt per Election for each District: $8,000,000 forParksandRecreation Improvements $8,000,000 forWaterImprovements $8,000,000 forSanitation Improvements $8,000,000 forTransportation Improvements $8,000,000 for Mosquito Control $8,000,000 for SafetyProtectionImprovements $8,000,000 forSecurityImprovements $8,000,000 forOperationsandMaintenance Debt $60,000,000 forRefunding $8,000,000 forDistrictIntergovernmentalAgreements as Debt $8,000,000 forReimbursementAgreements $8,000,000 forConstruction 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 0 mills Calculation: $250,000 x .0715 = $17,875 (Assessed Valuation) $17,875 x .00 mills = $. per year in taxes owed solely to the Special District (does not include operations and maintenance mill levy) CERTIFICATION OF MAILING AND PUBLICATION OF NOTICE OF HEARING IN RE THE ORGANIZATION OF WILDHORSE METROPOLITAN DISTRICT, CITY OF PUEBLO, COUNTY OF PUEBLO, STATE OF COLORADO IT IS HEREBY CERTIFIED by the undersigned, as follows: 1. That the City Council of the City of Pueblo, in Pueblo County, Colorado did set a hearing for th Monday, the 28 of March, 2022, at 7:00 p.m., or soon thereafter, at 1 City Hall Place, Pueblo, Colorado concerning the Service Plan and related documents for Wildhorse Metropolitan District Nos. 1-5 (collectively, s. 2. That, as part of said action, directions were given that a copy of the Notice of Public Hearing, attached as Exhibit A, be published one time in a newspaper of general circulation within the proposed Districts. 3. A copy of the Notice was published on March 6, 2022 in the Pueblo Chieftan as evidenced by the affidavit of publication attached hereto as Exhibit B. 4. A copy of the Notice indicating that the notice is on file Office of the City of Pueblo Planning and Community Development Department, 211 East D Street, Pueblo, CO 81003, was published on March 12, 2022 in the Pueblo Chieftan as evidenced by the affidavit of publication attached hereto as Exhibit C. 5. That, as part of said action, a copy of the Notice of Public Hearing was deposited in the United States first class mail on March 2, 2022, per the listing attached as Exhibit D, to the property owners of record within the boundaries of the District, to all taxing authorities within a 3-mile radius of the Districts; boundaries, as verified by the Pueblo . nd Executed this 22 day of March, 2022. /s/ Laura S. Heinrich Laura S. Heinrich, Attorney Spencer Fane LLP 1700 Lincoln Street, Suite 2000, Denver, CO 80203 EXHIBIT A NOTICE OF PUBLIC HEARING _______________________________________________________________________________ NOTICE OF PUBLIC HEARING ON CONSOLIDATED SERVICE PLAN _________________________________________________________________________________ IN RE THE ORGANIZATION OF WILDHORSE METROPOLITAN DISTRICT NOS. 1 - 5, CITY OF PUEBLO, COUNTY OF PUEBLO, STATE OF COLORADO _________________________________________________________________________________ PUBLIC NOTICE IS HEREBY GIVEN that there was filed with the City Clerk of the City for the proposed Wildhorse Metropolitan District Nos. 1- is now on file in the Office of the City Clerk of the City of Pueblo, and is available for public inspection. NOTICE IS FURTHER GIVEN that pursuant to Section 32-1-204, C.R.S., a public hearing on said Service Plan and related matters will be held before the City Council at 7:00 p.m. on Monday, March 28, 2022, at City Hall, 1 City Hall Place, Pueblo, Colorado. The purpose of the public hearing shall be to consider the adequacy of the Service Plan to form a basis for adopting a Resolution approving, conditionally approving, or disapproving the Service Plan. The Districts will consist of approximately 179 acres and will be generally located generally north of the intersection of Colorado 45 and US-50 in the City and County of Pueblo. The Districts shall be metropolitan districts and have the power and authority to provide the public improvements as described in the Service Plan as such power and authority is described in the Special District Act and other applicable statutes, common law and the Constitution, subject to the limitations set forth in the Service Plan and any intergovernmental agreement(s) between the proposed Districts and the City of Pueblo, as any or all of the same may be amended from time to time. It is proposed that the maximum mill levy the Districts may impose for the payment of principal of and interest on Debt be fifty (50) mills. It is also proposed that the Districts be authorized to impose a mill levy to defray operations, maintenance, and administrative expenses of each District, as deemed necessary to pay for such expenditures. NOTICE IS FURTHER GIVEN that pursuant to Section 32-1-203(3.5), C.R.S., as amended, no later than ten days prior to the public hearing on the Service Plan, any owner of real property within the proposed Wildhorse Metropolitan District Nos. 1-5 may file a petition with the City real property be excluded from the Districts. The City Council shall not be limited in its action with respect to the exclusion of property based upon such request. Any request for exclusion shall be acted upon before final action of the City Council concerning approval of the Service Plan. By: /s/ Marisa Stoller By: Marisa Stoller, City Clerk City of Pueblo, Colorado EXHIBIT B PROOF OF PUBLICATION DN 6557265.1 EXHIBIT C PROOF OF PUBLICATION DN 6557265.1 EXHIBIT D MAILING LIST Taxing Entities Pueblo County 2631 E. 4th Street Pueblo, CO 81001 City of Pueblo 1 City Hall Place Pueblo, CO 81003 Pueblo West Metro District PO Box 7005 Pueblo CO 81007 Pikes Peak Park Metropolitan District Nos. 1-5 2154 East Commons Avenue, Suite 2000 Centennial, CO 80122 Property Owner/Petitioner Wildhorse Land and Holdings LLC PO BOX 64140 Colorado Springs, CO 80962 DN 6557265.1