HomeMy WebLinkAbout2009-092-09/15/2009-APPROVING THE HARMONY TECHNOLOGY PARK METROPOLITAN DISTRICT NOS. 1 THROUGH 3 CONSOLIDATED SERVICE PL RESOLUTION 2009-092
OF THE COUNCIL OF THE CITY OF FORT COLLINS
APPROVING THE HARMONY TECHNOLOGY PARK METROPOLITAN
DISTRICT NOS. 1 THROUGH 3 CONSOLIDATED SERVICE PLAN
WHEREAS, the provisions of Title 32, C.R.S. allow for the formation of a variety of
governmental entities to finance and operate public services and infrastructure; and
WHEREAS, on July 9, 2008, the City Council adopted Resolution 2008-069 creating a
Policy for Reviewing Proposed Services Plans for Title 32 Metropolitan Districts (the "City
Policy") setting forth criteria to be considered when a service plan is submitted for consideration;
and
WHEREAS, MAV Development Company has submitted a Consolidated Service Plan for
Harmony Technology Park Metropolitan District Nos. 1 through 3 (the"Districts")whose Districts'
boundaries are wholly within the corporate limits of the City; and
WHEREAS, the Consolidated Service Plan submitted to the City outlines the terms and
conditions under which the Districts will be authorized to exist; and
WHEREAS, the City Council held a public hearing on September 15, 2009, regarding the
Consolidated Service Plan; and
WHEREAS, the City Council has reviewed the Consolidated Service Plan and considered
the testimony and evidence presented at the public hearing; and
WHEREAS,the Special District Act requires that any Service Plan submitted to the District
Court for the creation of a Special District must first be approved by resolution of the governing
body of the municipality within which the District lies; and
WHEREAS, it appears that City Council should approve the Consolidated Service Plan for
the Harmony Technology Park Metropolitan District Nos. 1 through 3.
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF
FORT COLLINS, COLORADO, AS FOLLOWS:
Section 1. That the City Council hereby determines that the requirements of the Policy
for Reviewing Proposed Services Plans for Title 32 Metropolitan Districts and of 32-1-204.5,C.R.S.
have been satisfied by the Consolidated Service Plan for Harmony Technology Park Metropolitan
District Nos. 1 through 3.-
Section 2. That the City Council determines that the City's notification requirements
have been complied with regarding the public hearing on the Service Plan.
Section 3. The City Council hereby finds that:
a. There is sufficient existing and projected need for organized service in the
area to be serviced by the Districts.
b. The existing service in the area to be served by the Districts is inadequate for
present and projected needs.
C. The Districts are capable of providing economical and sufficient service to
the area within the proposed boundaries.
d. The area to be included in the Districts has, or will have, the financial ability
to discharge the proposed indebtedness on a reasonable basis.
e. Adequate service is not, or will not be, available to the area through the
county or other existing municipal of 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.
g. The proposal is in substantial compliance with a master plan adopted
pursuant to Section 30-28-106, 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.
i The creation of the Districts will be in the best interests of the area proposed
to be served.
Section 4. That the City Council's findings are based solely upon the evidence in the
Service Plan as presented at the public hearing and the City has not conducted any independent
investigation of the evidence. The City makes no guarantee as to the financial viability of the
Districts or the achievability of the results.
Section 5. That the City Council hereby approves the Harmony ,Technology Park
Metropolitan District Nos. 1 through 3 Consolidated Service Plan, attached hereto as Exhibit "A"
and incorporated herein by this reference.
Section 6. That the City Council's approval of the Service Plan is not a waiver or a
limitation upon any power, which the City Council is legally permitted to exercise with respect to
the property subject to the Districts.
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Passed and adopted at a regular meeting of the Cou i f the City of Fort Colli this 15th
day of September A.D. 2009.
Mayor ,
ATTEST:
City Clerk `
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EXHIBIT A
CONSOLIDATED SERVICE PLAN
FOR
HARMONY TECHNOLOGY PARK METROPOLITAN DISTRICT NOS , 1 =3
CITY OF FORT COLLINS, COLORADO
Prepared by :
WHITE, BEAR & ANKELE,
PROFESSIONAL CORPORATION
1805 Shea Center Drive, Suite 100
Highlands Ranch, Colorado
September 3, 2009
EXHIBIT A
TABLE OF CONTENTS
1 . INTRODUCTION . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . I
A . Purpose and Intent. I
Be Need for the Districts , * I * I " . . * owe 2
C . Objective of the City Regarding Districts ' Service Plan . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2
11 . DEFINITIONS . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3
III . BOUNDARIES . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6
IV . PROPOSED LAND USE AND ASSESSED VALUATION . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 7
V . DESCRIPTION OF PROPOSED POWERS , IMPROVEMENTS AND
SERVICES . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 7
A . Powers of the Districts and Service Plan Amendment. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 7
1 . Operations and Maintenance . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 7
2 , Development Standards . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 18
3 . Privately Placed Debt Limitation . 8
4 . Inclusion and Exclusion Limitation . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9
5 , Maximum Debt Authorization. 9
6 . Monies from Other Governmental Sources . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9
T Consolidation Limitation . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9
8 . Eminent Domain Limitation, 9
9 , Service Plan Amendment Requirement. 10
Be Infrastructure Preliminary Development Plan. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 10
Vl . FINANCIAL PLAN . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 11
A . General . . 11 11 11 11 11
Be Maximum Voted Interest Rate and Maximum Underwriting Discount. . . . . . 12
C . Maximum Mill Levies . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0 , 0000012
D . Debt Issuance and Maturity, 13
E . Security for Debt. 13
F. TABOR Compliance . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 14
G. Districts ' Operating Costs . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 14
H . Elections . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 14
VII . ANNUAL REPORT . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 14
A . General , . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 14
Be Reporting of Significant Events . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1111111 . 11114
VIII . DISSOLUTION . , . , . , . , . we 11 11 11 11 11 11 15
IX . PROPOSED AND EXISTING INTERGOVERNMENTAL AGREEMENTS
AND EXTRATERRITORIAL SERVICE AGREEMENTS . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 16
i
EXHIBIT A
X . MATERIAL MODIFICATIONS . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 16
XI . CONCLUSION . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 17
XII . RESOLUTION OF APPROVAL . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 17
295346- 13 ii
EXHIBIT A
LIST OF EXHIBITS
EXHIBIT A- 1 Legal Description of Project Area Boundaries
EXHIBIT A- 2 Legal Description of District No . 1
EXHIBIT A-3 Legal Description of District No . 2
EXHIBIT A-4 Legal Description of District No . 3
EXHIBIT B - 1 Project Area Boundary Map
EXHIBIT B -2 District No . 1 Boundary Map
EXHIBIT B -3 District No . 2 Boundary Map
EXHIBIT B -4 District No . 3 Boundary Map
EXHIBIT C Vicinity Map
EXHIBIT D Infrastructure Preliminary Development Plan
EXHIBIT E Financial Plan
295346- 13 iii
EXHIBIT A
I. INTRODUCTION
A . Purpose and Intent.
The Districts, which are intended to be independent units of local
government separate and distinct from the City, are governed by this Service Plan which
has been prepared in accordance with the City Policy. Except as may otherwise be
provided for by State or local law or this Service Plan, the Districts ' activities are subject
to review by the City only insofar as they may deviate in a material manner from the
requirements of this Service Plan . The Districts are needed to provide Public
Improvements to the Project for the benefit of property owners within the Districts and
other local development and will result in enhanced benefits to existing and future
business owners and/or residents of the City. The primary purpose of the Districts will be
to finance the construction of these Public Improvements .
The Districts are being organized under a multiple-district structure . As the
Project is anticipated to be built over an extended period of time, this will allow for a
phased absorption of the Project and corresponding Public Improvements . Additionally,
such structure assures proper coordination of the powers and authorities of the
independent Districts and avoids confusion regarding the separate, but coordinated,
purposes of the Districts that could arise if separate service plans were used. Under such
structure, District No . 1 , as the service district, is responsible for managing the
construction and operation of the facilities and improvements needed for the Project.
District No . 2 and District No . 3 , as the financing districts , are responsible for providing
the funding and tax base needed to support the Financial Plan for capital improvements .
The continued operation of District No . 1 , as the service district which owns and operates
the public facilities throughout the Project, and the continued operation of District No . 2
and District No . 3 , as the financing districts that will generate the tax revenue sufficient
to pay the costs of the capital improvements , creates several benefits . These benefits
include, inter alia : ( 1 ) coordinated administration of construction and operation of Public
Improvements, and delivery of those improvements in a timely manner; (2) maintenance
of equitable mill levies and reasonable tax burdens on all commercial areas of the Project
through proper management of the financing and operation of the Public Improvements ;
and (3 ) assured compliance with state laws regarding taxation in a manner which permits
the issuance of tax exempt Debt at the most favorable interest rates possible.
Currently, development of the Project is anticipated to proceed in phases .
Each phase will require the extension of public services and facilities . The multiple
district structure will assure that the construction and operation of each phase is primarily
administered by a single board of directors consistent with a long-term construction and
operations program. Use of District No . 1 as the entity responsible for construction of
each phase of the Public Improvements and for management of operations will facilitate a
well-planned financing effort through all phases of construction and will assist in
assuring coordinated extension of services .
EXHIBIT A
The multiple district structure will also help assure that Public
Improvements will be provided when they are needed, and not sooner. Appropriate
development agreements between District No . 1 and the Developer of the Project will
allow the postponement of financing for improvements which may not be needed until
well into the future, thereby helping property owners avoid the long-term carrying costs
associated with financing improvements too early. This , in turn, allows the full costs of
Public Improvements to be allocated over the full build-out of the Project and helps avoid
disproportionate cost burdens being imposed on the early phases of development.
Allocation of the responsibility for paying Debt for Public Improvements
and capital costs will be managed through development of a unified financing plan for
those improvements and through development of an integrated operating plan for long-
term operations and maintenance. Use of District No . 1 as the service district, to manage
these functions , will help assure that the phasing of the Public Improvements will occur
as logical and necessary as to conform to development plans approved by the City and
will help maintain reasonably uniform mill levies and fee structures throughout the
coordinated construction, installation, acquisition, financing and operation of Public
Improvements throughout the Project. Intergovernmental agreements among the Districts
will assure that the roles and responsibilities of each District are clear in this coordinated
development and financing plan.
B . Need for the Districts .
There are currently no other governmental entities , including the City,
located in the immediate vicinity of the Districts that, at this time, can financially
undertake the planning, design, acquisition, construction, installation, relocation,
redevelopment, and financing of the Public Improvements needed for the Project.
Formation of the Districts is therefore necessary in order for the Public Improvements
required for the Project to be provided in the most economic manner possible .
C . Objective of the City Regarding Districts ' Service Plan .
The City ' s objective in approving the Service Plan for the Districts is to
authorize the Districts to provide for the planning, design, acquisition, construction,
installation, relocation and redevelopment of the Public Improvements from the proceeds
of Debt to be issued by the Districts . The Districts project to issue a total of Fourteen
Million Eight Hundred Thousand Dollars ($ 14, 800,000. 00) . All Debt is projected to be
repaid by the imposition of a Debt Service Mill Levy not expected to exceed Thirty (30)
mills . In no event shall the Debt Service Mill Levy exceed the Maximum Mill Levy as
described in Section VI. C . herein . Debt which is issued within these parameters (as
further described in the Financial Plan and Section VI. C . herein) will insulate property
owners from excessive tax burdens to support the servicing of the Debt and will result in
a timely and reasonable discharge of the Debt. The City shall, under no circumstances , be
responsible for the Debts of the Districts and the City' s approval of this Service Plan
295346- 13 2
EXHIBIT A
shall in no way be interpreted as an agreement, whether tacit or otherwise, to be
financially responsible for the Debts of the Districts or the construction of Public
Improvements .
This Service Plan is intended to establish a limited purpose for the Districts
and explicit financial constraints that are not to be violated under any circumstances . The
primary purpose is to provide for the Public Improvements associated with the Project
and regional improvements as necessary. Ongoing operational and maintenance activities
are allowed as addressed in this Service Plan to the extent that the Districts have
sufficiently demonstrated that such operations and maintenance functions are in the best
interest of the City and the existing and future taxpayers of the Districts . As further
detailed in Section VI.C . herein, the aggregate of the Debt Service Mill Levy and
Operations and Maintenance Mill Levy shall not exceed the Maximum Mill Levy.
It is the intent of the Districts to dissolve upon payment or defeasance of all
Debt incurred or upon a court determination that adequate provision has been made for
the payment of all Debt. However, if the Districts have authorized operation and
maintenance functions under this Service Plan, or if by agreement with the City it is
desired that the Districts shall continue to exist, then the Districts shall not dissolve but
shall retain the power necessary to impose and collect taxes or fees to pay for costs
associated with said operations and maintenance functions and/or to perform agreements
with the City.
The Districts shall be authorized to finance the Public Improvements that
can be funded from Debt to be repaid from tax revenues collected from a mill levy which
shall not exceed the Maximum Mill Levy and which shall not exceed the Maximum Debt
Authorization and Maximum Debt Maturity Term. It is the intent of this Service Plan to
ensure to the extent possible that, as a result of the formation and operation of the
Districts , no taxable property bears a tax burden that is greater than the Maximum Mill
Levy in amount, even under bankruptcy or other unusual situations . Generally, the costs
of Public Improvements that cannot be funded within these parameters are not costs to be
paid by the Districts .
II. DEFINITIONS
In this Service Plan, the following terms which appear in a capitalized format
herein shall have the meanings indicated below, unless the context hereof clearly requires
otherwise :
Approved Development Plan : means a development plan or other process
established by the City (including but not limited to approval of a final plat or PUD by
the City Council) for identifying, among other things , Public Improvements necessary for
facilitating development of property within the Service Area as approved by the City
pursuant to the City Code and as amended pursuant to the City Code from time to time.
295346- 13 3
EXHIBIT A
Board or Boards : means the Board of Directors of any of the Districts , or the
boards of directors of all of the Districts , in the aggregate .
Bond, Bonds or Debt: means bonds or other financial obligations for which a
District has promised to impose an ad valorem property tax mill levy, and other legally
available revenue, for payment. Such terms do not include intergovernmental agreements
pledging the collection and payment of property taxes in connection with a service
district and taxing district(s) structure, if applicable, and other contracts through which a
District procures or provides services or tangible property.
City: means the City of Fort Collins , Colorado .
City Code : means the Code of the City of Fort Collins and any regulations , rules,
or policies promulgated thereunder, as the same may be amended from time to time .
City Council : means the City Council of the City of Fort Collins , Colorado .
City Policy : means the City of Fort Collins , Colorado Policy for Reviewing
Proposed Service Plans for Title 32 Metropolitan Districts as adopted and approved by
the City Council on July 9 , 2008 .
Debt Service Mill Levy : means the mill levy the Districts project to impose for
payment of Debt as set forth in the Financial Plan and Section VI . below .
Developer: means MAV Development Company (MAVD) , a Michigan
corporation .
District: means Harmony Technology Park Metropolitan District No . 1 , Harmony
Technology Park Metropolitan District No . 2, or Harmony Technology Park Metropolitan
District No . 3 individually.
District No . 1 : means Harmony Technology Park Metropolitan District No . 1 .
District No . 2 : means Harmony Technology Park Metropolitan District No . 2 .
District No . 3 : means Harmony Technology Park Metropolitan District No . 3 .
Districts : means Harmony Technology Park Metropolitan District No . 1 , Harmony
Technology Park Metropolitan District No. 2, and Harmony Technology Park
Metropolitan District No . 3 collectively.
District Organization Date : means the date the order and decree issued by the
Larimer County District Court as required by law for the District or Districts is recorded
with the Larimer County Clerk and Recorder.
295346- 13 4
EXHIBIT A
External Financial Advisor: means a consultant that : ( 1 ) is qualified to advise
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 or, in the
City' s sole discretion, other recognized publication as a provider of financial projections ;
and (3 ) is not an officer or employee of the Districts .
Financial Plan : means the Financial Plan described in Section VI which is
prepared by an External Financial Advisor in accordance with the requirements of the
City Code and describes (a) how the Public Improvements are to be financed; (b) how the
Debt is expected to be incurred; and (c) the estimated operating revenue derived from
property taxes for the first budget year through the year in which all District Debt is
expected to be defeased. In the event the Financial Plan is not prepared by an External
Financial Advisor, the Financial Plan is accompanied by a letter of support from an
External Financial Advisor. This Financial Plan is intended to represent only one
example of debt issuance and financing structure of the Districts, any variations or
adjustments in the timing or implementation thereof shall not be interpreted as material
modifications to this Service Plan.
Infrastructure Preliminary Development Plan : means the Infrastructure
Preliminary Development Plan as described in Section V .B . which includes : (a) a
preliminary list of the Public Improvements to be developed by the Districts ; (b) an
estimate of the cost of the Public Improvements ; and (c) the map or maps showing the
approximate location( s) of the Public Improvements . The Districts ' implementation of
this Infrastructure Preliminary Development Plan is subject to change conditioned upon
various external factors including, but not limited to, site conditions, engineering
requirements, City, county or state requirements, land use conditions , and zoning
limitations .
Material Obligation :_ means any obligation between the District and the City which
has been identified as a Material Obligation by the City in writing .
Maximum Mill Levy: means the maximum mill levy each of the Districts is
permitted to impose under this Service Plan for payment of Debt and administration,
operations , and maintenance expenses as set forth in Section VLC . below .
Maximum Debt Authorization : means the total Debt the Districts are permitted to
issue as set forth in Section V . A. 5 and supported by the Financial Plan .
Maximum Debt Maturity Term: means the maximum term for repayment in full of
a specific District Debt issuance as set forth in Section VI .D . below .
295346- 13 5
EXHIBIT A
Operations and Maintenance Mill Lev X: means the mill levy the Districts project
to impose for payment of administration, operations , and maintenance costs as set forth in
the Financial Plan and Section VI. below .
Project: means the development or property commonly referred to as Harmony
Technology Park.
Project Area Boundaries : means the boundaries of the area described in the Project
Area Boundary Map and the legal description attached hereto as Exhibit A- 1 .
Project Area Boundary Map : means the map attached hereto as Exhibit B - 1 ,
describing the overall property that incorporates the Project.
Public Improvements : means a part or all of the improvements authorized to be
planned, designed, acquired, constructed, installed, relocated, redeveloped and financed
as generally described in the Special District Act, except as specifically limited in Section
V below to serve the future taxpayers and property owners of the Service Area as
determined by the Board of the Districts .
Service Area: means the property within the Project Area Boundary Map after
such property has been included within the Districts .
Service Plan : means this service plan for the Districts approved by the City
Council .
Service Plan Amendment : means an amendment to the Service Plan approved by
the City Council in accordance with applicable state law .
Special District Act or "Act" : means Article 1 of Title 32 of the Colorado Revised
Statutes , as amended from time to time .
State : means the State of Colorado .
Vicinity Map : means a map of the regional area surrounding the Project.
III. BOUNDARIES
The Project Area Boundaries includes approximately One Hundred Thirteen ( 113 )
acres . A legal description of the Project Area Boundaries is attached as Exhibit A- 1 . The
Project Area Boundaries are divided into Three (3 ) separate and distinct Districts (District
No . 1 , District No . 2 and District No . 3 ) , legal descriptions for which are attached hereto
as Exhibits A-2, A- 3 , and A-4 respectively. A Project Area Boundary Map is attached
hereto as Exhibit B - 1 , and maps of District No . l , District No . 2, and District No . 3 are
included as Exhibits B -2, B -3 , and B -4 respectively. Finally, a Vicinity Map is attached
hereto as Exhibit C . It is anticipated that the Districts ' Boundaries may change from time
295346- 13 6
EXHIBIT A
to time as they undergo inclusions and exclusions pursuant to Section 32- 1 -401 , et seq. ,
C . R. S . , and Section 32- 1 -501 , et seq. , C . R. S . , subject to the limitations set forth in Article
V below .
IV. PROPOSED LAND USE AND ASSESSED VALUATION
The Service Area consists of approximately One Hundred Thirteen ( 113 ) acres of
commercial land. The current assessed valuation of the Service Area is approximately
Zero Dollars ($0) and, at build out, is expected to be Seventy-Two Million Three
Hundred Thirty-Four Thousand and Forty Dollars ($72, 334,040 . 00) . This amount is
expected to be sufficient to reasonably discharge the Debt as demonstrated in the
Financial Plan . The total development potential of the Project is in excess of One Million
( 1 ,000,000) square feet of commercial business and technology office space which
translates into over One Hundred Fifty Million Dollars ($ 150,000,000 . 00) of investment
and approximately Two Thousand (2,000) employees .
Approval of this Service Plan by the City does not imply approval of the
development of a specific area within the Districts , nor does it imply approval of the total
site/floor area of commercial buildings or space which may be identified in this Service
Plan or any of the exhibits attached thereto or any of the Public Improvements , unless the
same is contained within an Approved Development Plan.
V. DESCRIPTION OF PROPOSED POWERS, IMPROVEMENTS AND
SERVICES
A . Powers of the Districts and Service Plan Amendment.
The Districts shall have the power and authority to acquire, construct and
install the Public Improvements within and without the boundaries of the Districts as
such power and authority is described in the Special District Act, and other applicable
statutes , common law and the State Constitution, subject to the limitations set forth
herein .
If, after the Service Plan is approved, the State Legislature includes
additional powers or grants new or broader powers for Title 32 districts by amendment of
the Special District Act or otherwise, any or all such powers shall be deemed to be a part
hereof and available to or exercised by the Districts upon prior administrative approval of
the City concerning the exercise of such powers . Such approval by the City shall not
constitute a material modification of this Service Plan .
1 . Operations and Maintenance . The purpose of the Districts is to plan
for, design, acquire, construct, install, relocate, redevelop and finance the Public
Improvements . The Districts shall dedicate the Public Improvements to the City or other
appropriate jurisdiction or owners association in a manner consistent with the Approved
295346- 13 7
EXHIBIT A
Development Plan and applicable provisions of the City Code . Additionally, the Districts
shall be authorized to operate and maintain any part or all of the Public Improvements ,
however, the Districts ' authorization to perform operations and maintenance services , if
any, shall expire after Twenty (20) years from the District Organization Date unless the
City Council approves the Districts ' continuation of such services . Thereafter, the
Districts shall be required to seek City Council approval to provide such services every
Ten ( 10) years . However, any failure to obtain such approvals shall not constitute a
material modification unless such approval is not obtained Forty-Five (45 ) days after
written notice of the need to request such approval is received by the Districts from the
City.
2 . Development Standards . The Districts will ensure that the Public
Improvements are designed and constructed in accordance with the standards and
specifications of the City and of other governmental entities having proper jurisdiction, as
applicable. The Districts directly or indirectly through the Developer will obtain the
City' s approval of civil engineering plans and will obtain applicable permits for
construction and installation of Public Improvements prior to performing such work.
Unless waived by the City, the Districts shall be required, in accordance with the City
Code, to post a surety bond, letter of credit, or other approved development security for
any Public Improvements to be constructed by the Districts . Such development security
may be released when the Districts have obtained funds , through bond issuance or
otherwise, adequate to insure the construction of the Public Improvements . Any
limitation or requirement concerning the time within which the City must review the
Districts ' proposal or application for an Approved Development Plan or other land use
approval is hereby waived by the Districts .
3 . Privately Placed Debt Limitation . Prior to the issuance of any
privately placed Debt, a 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 the District for the [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.
295346- 13 8
EXHIBIT A
4 . Inclusion and Exclusion Limitation . The Districts shall be entitled to
include within their boundaries any property within the Project Area Boundaries without
prior approval of the City Council . The Districts shall also be entitled to exclude from
their boundaries any property within the Project Area Boundaries so far as, within a
reasonable time thereafter, the property is included within the boundaries of another
District. All other Inclusions or exclusions shall require the prior approval of the City
Council by written agreement with the District and, if approved, shall not constitute a
material modification of this Service Plan.
5 , Maximum Debt Authorization. The Districts anticipate Fifteen
Million Five Hundred Sixty-Two Thousand One Hundred Eight Dollars ($ 15 , 562, 108 ) in
project costs in 2009 dollars as set forth in Exhibit D , and anticipate issuing
approximately Fourteen Million Eight Hundred Thousand Dollars ($ 14, 800,000) (the
"Maximum Debt Authorization") in Debt to pay a portion of such costs as set forth in
Exhibit E. The Districts shall not issue Debt in amounts greater than $ 14, 800,000 . The
Districts must seek administrative approval by the City, which approval is in the sole
discretion of the City, to issue Debt in excess of the Maximum Debt Authorization to pay
the actual costs of the Public Improvements set forth in Exhibit D plus inflation,
contingencies and other unforeseen expenses associated with such Public Improvements .
Such administrative approval by the City shall not constitute a material modification of
this Service Plan so long as increases are reasonably related to the Public Improvements
set forth in Exhibit D and any Approved Development Plan.
6 . Monies from Other Governmental Sources . The Districts shall not
apply for or accept Conservation Trust Funds , Great Outdoors Colorado Funds , or other
funds available from or through governmental or non-profit entities for which the City is
eligible to apply for, except pursuant to an intergovernmental agreement with the City.
This Section shall not apply to specific ownership taxes which shall be distributed to and
a revenue source for the Districts without any limitation.
7 . Consolidation Limitation . The Districts shall not file a request with
any Court to consolidate with another Title 32 district without the prior written consent of
the City, unless such consolidation is among the Districts themselves, which shall not
require approval of the City.
8 . Eminent Domain Limitation. The Districts shall not exercise their
statutory power of eminent domain without first obtaining administrative approval from
the City. Said exercise of the Eminent Domain Power will require the administrative
approval of the City as demonstrated by the execution of an intergovernmental agreement
between the City and Districts , and only be allowed to facilitate the construction of
Public Improvements pertinent to the Project. This restriction on the Eminent Domain
power by the Districts is being exercised voluntarily and shall not be interpreted in any
way as a limitation on the Districts ' sovereign powers and shall not negatively affect the
295346- 13 9
EXHIBIT A
Districts status as political subdivisions of the State of Colorado as allowed by Article 1 ,
Title 32, Colorado Revised Statutes .
9 , Service Plan Amendment Requirement. This Service Plan is general
in nature and does not include specific detail in some instances because development
plans have not been finalized. The Service Plan has been designed with sufficient
flexibility to enable the Districts to provide required services and facilities under evolving
circumstances without the need for numerous amendments . Modification of the general
types of services and facilities making up the Public Improvements , and changes in
proposed configurations , locations or dimensions of the Public Improvements shall be
permitted to accommodate development needs consistent with the then-current Approved
Development Plan( s) for the Project . The Districts shall be independent units of local
government, separate and distinct from the City, and their activities are subject to review
by the City only insofar as they may deviate in a material manner from the requirements
of the Service Plan. Any action of a District which: ( 1 ) violates the limitations set forth in
this Section V .A. or (2) violates the limitations set forth in Section VI. below, shall be
deemed to be a material modification to this Service Plan unless otherwise agreed by the
City as provided for in Section X of this Service Plan or unless otherwise expressly
provided herein . All other departures from the provisions of this Service Plan shall be
considered on a case-by-case basis as to whether such departures are a material
modification, unless otherwise expressly provided herein. Any determination by the City
that a departure is not a material modification shall be conclusive and final and shall bind
all residents , property owners and others affected by such departure .
To the extent permitted by law , a District may seek formal approval from
the City of modifications to this Service Plan which are not material, but for which the
District may desire a written amendment and approval by the City. Such approval may be
evidenced by any instrument executed by the City' s manager, City' s attorney, or other
specially designated representative of the City Council as to the matters set forth therein
and shall be conclusive and final . No District may amend this Service Plan in a manner
which materially affects any other District, in such other District' s sole discretion,
without such other District' s written consent.
B . Infrastructure Preliminary Development Plan .
The Districts shall have authority to provide for the planning, design,
acquisition, construction, installation, relocation, redevelopment, maintenance, and
financing of the Public Improvements within and without the boundaries of the Districts ,
to be more specifically defined in an Approved Development Plan . The Infrastructure
Preliminary Development Plan, including : ( 1 ) a list of the Public Improvements to be
developed by the Districts ; (2) an estimate of the cost of the Public Improvements ; and
(3 ) maps showing the approximate locations of the Public Improvements is attached
hereto as Exhibit D and is hereby deemed to constitute the preliminary engineering or
architectural survey required by Section 32- 1 -202(2) (c) , C . R. S . The maps contained in
295346- 13 10
EXHIBIT A
the Infrastructure Preliminary Development Plan are also available in size and scale
approved by the City ' s planning department.
As shown in the Infrastructure Preliminary Development Plan, the
estimated cost of the Public Improvements which may be planned for, designed,
acquired, constructed, installed, relocated, redeveloped, maintained or financed by the
Districts is approximately Fifteen Million Five Hundred Sixty-Two Thousand One
Hundred Eight Dollars ($ 15 ,562, 108 .00) .
The Districts shall be permitted to allocate costs between such categories of
the Public Improvements as deemed necessary in their discretion.
All of the Public Improvements described herein will be designed in such a
way as to assure that the Public Improvements standards will be consistent with or exceed
the standards of the City and shall be in accordance with the requirements of the
Approved Development Plan. All descriptions of the Public Improvements to be
constructed, and their related costs , are estimates only and are subject to modification as
engineering, development plans , economics , the City' s requirements , and construction
scheduling may require . Upon approval of this Service Plan, the Districts will continue to
develop and refine the Infrastructure Preliminary Development Plan and prepare for
issuance of Debt. All cost estimates will be inflated to then-current dollars at the time of
the issuance of Debt and construction. All construction cost estimates contained in the
Infrastructure Preliminary Development Plan assume construction to applicable local,
State or Federal requirements . Changes in the Public Improvements , Infrastructure
Preliminary Development Plan, or costs, which are approved by the City Council in an
Approved Development Plan, shall not constitute a material modification of this Service
Plan . Additionally, due to the preliminary nature of the Infrastructure Preliminary
Development Plan, the City shall not be bound by the Infrastructure Preliminary
Development Plan in reviewing and approving the Approved Development Plan and the
Approved Development Plan shall supersede the Infrastructure Preliminary Development
Plan .
VI. FINANCIAL PLAN
A . General .
The Districts shall be authorized to provide for the planning, design,
acquisition, construction, installation, relocation and/or redevelopment of the Public
Improvements from their revenues and by and through the proceeds of Debt to be issued
by the Districts . The Financial Plan for the Districts shall be to issue no more Debt than
the Districts can reasonably pay within Thirty (30) years for each series of Debt from
revenues derived from the Debt Service Mill Levy and other revenue sources authorized
by law . The Financial Plan for the Districts projects the need for a Debt Service Mill
Levy of no greater than Thirty (30) Mills . The Financial Plan further projects to satisfy all
295346- 13 11
EXHIBIT A
other financial obligations arising out of the Districts ' administrative and operations and
maintenance activities through the imposition of an Operations and Maintenance Mill
Levy of no greater than Five (5 ) Mills .
The total Debt that the Districts shall be permitted to issue shall not exceed
the Maximum Debt Authorization; provided, however, that Debt issued to refund
outstanding Debt of the Districts , including Debt issued to refund Debt owed to the
Developer of the Project pursuant to a reimbursement agreement or other agreement,
shall not count against the Maximum Debt Authorization so long as such refunding Debt
does not result in a net present value increase . Subject to the limitations contained herein,
District Debt shall be issued on a schedule and in such year or years as the Districts
determine shall meet the needs of the Financial Plan referenced above and phased to
serve the Project as it occurs . All Bonds and other Debt issued by the Districts may be
payable from any and all legally available revenues of the Districts , including general ad
valorem taxes to be imposed upon all taxable property within the Districts . The Districts
may also rely upon various other revenue sources authorized by law . These will include
the power to impose development fees, rates , tolls , penalties , or charges as provided in
Section 32- 1 - 1001 ( 1 ) , C .R. S . , as amended from time to time.
The Maximum Debt Authorization, Debt Service Mill Levy, Operations ,
Maintenance Mill Levy, and all other financial projections and estimates contained in this
Service Plan are supported by the Financial Plan (Exhibit E) prepared by an External
Financial Advisor, GEORGE K. BAUM & COMPANY, INC . The Financial Plan and the
External Financial Advisor satisfy the requirements of the City Policy. The Financial
Plan is based on economic , political and industry conditions as they exist presently and
reasonable, conservative projections and estimates of future conditions . These projections
and estimates are not to be interpreted as the only method of implementation of the
Districts goals and objectives but rather a representation of one feasible alternative .
Other financial structures may be used so long as the Maximum Debt Authorization and
Maximum Mill Levy are not exceeded.
B . Maximum Voted Interest Rate and Maximum Underwriting Discount.
The interest rate on any Debt is expected to be the market rate at the time
the Debt is issued. In the event of a default, the proposed maximum interest rate on any
Debt is not permitted to exceed Twelve Percent ( 12% ) . The proposed maximum
underwriting discount will be Three Percent (3 % ) . Debt, when issued, will comply with
all relevant requirements of this Service Plan, State law and Federal law as then
applicable to the issuance of public securities .
C . Maximum Mill Levies .
The Maximum Mill Levy shall be the maximum mill levy the District is
permitted to impose upon the taxable property within the District and shall be Forty (40)
295346- 13 12
EXHIBIT A
mills , with the aggregate mill levy of the Districts subject to this same Maximum Mill
Levy. However, it is the Developer' s intent initially to voluntarily restrict the mill levy to
a total of Thirty-Five (35 ) mills in order to minimize the tax burden on property owners
within the Districts and provide additional security and cushion to future bondholders .
The combined Debt Service Mill Levy and Operations and Maintenance Mill Levy shall
under no circumstances exceed the Maximum Mill Levy. Allocation of the Debt Service
and Operations and Maintenance Mill Levies shall be left to the sole discretion of the
Districts ' Board. If, on or after January 1 , 2009 , there are changes in the method of
calculating assessed valuation or any constitutionally mandated tax credit, cut or
abatement, the preceding mill levy limitations may be increased or decreased to reflect
such changes , with such increases or decreases to be determined by the District' s Boards
in good faith ( such determination to be binding and final) , with administrative approval
by the City, so that to the extent possible, the actual tax revenues generated by the
Districts ' mill levies , as adjusted for changes occurring after January 1 , 2009 , are neither
diminished nor enhanced as a result of such changes . For purposes of the foregoing, a
change in the ratio of actual valuation to assessed valuation will be a change in the
method of calculating assessed valuation. If the total amount of aggregate Debt of any of
the Districts is equal to or less than Fifty Percent (50% ) of such District' s assessed
valuation, either on the date of issuance or at any time thereafter, the mill levy to be
imposed to repay such portion of Debt shall not be subject to the Maximum Mill Levy
and, as a result, the mill levy may be such amount as is necessary to pay the Debt service
on such Debt, without limitation of rate .
D . Debt Issuance and Maturity.
The scheduled final maturity of any Debt or series of Debt shall be limited
to Thirty (30) years (the "Maximum Debt Maturity Term") , The Maximum Debt
Maturity Term shall apply to refundings unless : ( 1 ) a majority of the Board members are
residents of the Districts and have voted in favor of a refunding of a part or all of the
Debt; or (2) such refunding will result in a net present value savings as set forth in
Section 11 -56- 101 et seq . , C . R. S . and are otherwise permitted by law .
Unless otherwise approved by the City Council, the Districts shall be
limited to issuing new Debt within a period of Fifteen ( 15 ) years from the date of their
first Debt authorization election. The Maximum Debt Maturity Term, as described in
Section VI.D , shall be applicable to any new Debt issued within this Fifteen ( 15 ) year
period, otherwise, all Debts and financial obligations of the Districts must be defeased no
later than Forty (40) years after the Service Plan approval date .
E . Security for Debt.
The Districts do not have the authority and shall not pledge any revenue or
property of the City as security for the indebtedness set forth in this Service Plan .
Approval of this Service Plan shall not be construed as a guarantee by the City of
295346- 13 13
EXHIBIT A
payment of any of the Districts ' obligations ; nor shall anything in the Service Plan be
construed so as to create any responsibility or liability on the part of the City in the event
of default by the Districts in the payment of any such obligation or performance of any
other obligation .
F. TABOR Compliance .
The Districts will comply with the provisions of TABOR. In the discretion
of the Board, a District may set up other qualifying entities to manage, fund, construct
and operate facilities, services, and programs . To the extent allowed by law , any entity
created by a District will remain under the control of the District' s Board.
G . Districts ' Operating Costs .
The estimated cost of acquiring land, engineering services, legal services
and administrative services , together with the estimated costs of the Districts '
organization and initial operations , are anticipated to be One Hundred Thousand Dollars
($ 100,000 . 00) , which will be eligible for reimbursement from Debt proceeds .
In addition to the capital costs of the Public Improvements , the Districts
will require operating funds for administration and to plan and cause the Public
Improvements to be operated and maintained. The first year' s operating budget is
estimated to be Ninety Thousand Dollars ($90,000 . 00) . Ongoing administration,
operations , and maintenance costs may be paid from property taxes and other revenues .
H . Elections .
The Districts will call an election on the questions of organizing the
Districts , electing the initial Board, and setting in place financial authorizations as
required by TABOR . The election will be conducted as required by law .
VII. ANNUAL REPORT
A . General .
The Districts shall be responsible for submitting an annual report with the
City' s clerk not later than September 1st of each year for the year ending the preceding
December 31 following the year of the District Organization Date . The City may, in its
sole discretion, waive this requirement in whole or in part.
B . Reporting of Significant Events .
Unless waived by the City, the annual report shall include the following :
295346- 13 14
EXHIBIT A
1 . A narrative summary of the progress of the Districts in
implementing their service plan for the report year;
2 . Except when exemption from audit has been granted for the report
year under the Local Government Audit Law , the audited financial statements of the
Districts for the report year including a statement of financial condition (i . e. , balance
sheet) as of December 31 of the report year and the statement of operations (i.e . , revenues
and expenditures) for the report year;
3 . Unless disclosed within a separate schedule to the financial
statements , a summary of the capital expenditures incurred by the Districts in
development of Public Improvements in the report year;
4 . Unless disclosed within a separate schedule to the financial
statements , a summary of the financial obligations of the Districts at the end of the report
year, including the amount of outstanding indebtedness , the amount and terms of any new
District indebtedness or long-term obligations issued in the report year, the amount of
payment or retirement of existing indebtedness of the Districts in the report year, the total
assessed valuation of all taxable properties within the Districts as of January 1 of the
report year and the current mill levy of the Districts pledged to Debt retirement in the
report year; and
5 . Any other information deemed relevant by the City Council or
deemed reasonably necessary by the City' s manager.
In the event the annual report is not timely received by the City ' s clerk or is
not fully responsive, notice of such default may be given to the Board of such Districts , at
its last known address . The failure of the Districts to file the annual report within Forty-
Five (45 ) days of the mailing of such default notice by the City' s clerk may constitute a
material modification, at the discretion of the City.
VIII. DISSOLUTION
Upon an independent determination of the City Council that the purposes for
which the Districts were created have been accomplished, the Districts agree to file
petitions in the appropriate District Court for dissolution, pursuant to the applicable State
statutes . In no event shall dissolution occur until the Districts have provided for the
payment or discharge of all of their outstanding indebtedness and other financial
obligations as required pursuant to State statutes, including operation and maintenance
activities .
295346- 13 15
EXHIBIT A
IX. PROPOSED AND EXISTING INTERGOVERNMENTAL AGREEMENTS
AND EXTRATERRITORIAL SERVICE AGREEMENTS
All intergovernmental agreements must be for purposes , facilities , services or
agreements lawfully authorized to be provided by the Districts , pursuant to the State
Constitution, Article XIV, Section 18 (2)(a) and Sections 29- 1 -201 , et seq. , C .R . S . To the
extent practicable, the Districts may enter into additional intergovernmental and private
agreements to better ensure long-term provision of the Public Improvements identified
herein or for other lawful purposes of the Districts . Agreements may also be executed
with property owner associations and other service providers .
The following agreement is likely to be necessary, and the rationale therefore is set
forth as follows :
District Facilities Construction and Service Agreement. The Districts anticipate
entering into a District Facilities Construction and Service Agreement, commonly known
as the "Master IGA" , wherein the Districts set forth the financing and administrative
requirements of the Districts for the Project.
No other agreements are required, or known at the time of formation of the
Districts to likely be required, to fulfill the purposes of the Districts . Execution of
intergovernmental agreements or agreements for extraterritorial services by the Districts
that are not described in this Service Plan and which are likely to cause a substantial
increase in the Districts ' budgets shall require the prior approval of the City Council,
which approval shall not constitute a material modification hereof.
X. MATERIAL MODIFICATIONS
Material modifications to this Service Plan may be made only in accordance with
Section 32- 1 -207 , C . R. S . No modification shall be required for an action of the Districts
which does not materially depart from the provisions of this Service Plan . Following
formation of the District, the District ' s Board of Directors may, from time to time, submit
a letter to the City' s manager, or designee, outlining the proposed actions of the District
for which the Board of Directors is unclear as to whether a Service Plan amendment is
required. The City' s manager, or designee, will determine whether an amendment to the
Service Plan is required under the provisions of this Policy and Section 32- 1 - 207 ,
C .R. S . , and then provide a copy of the determination to the District' s Board of Directors .
Departures from the Service Plan that constitute a material modification include
without limitation :
1 . Actions or failures to act that create greater financial risk or burden ;
295346- 13 16
EXHIBIT A
2 . Performance of a service or function or acquisition of a major
facility that is not closely related to a service, function or facility authorized in the
Service Plan ; and
3 . Failure to perform a service or function or acquire a facility required
by the Service Plan .
Actions that are not to be considered material modifications include without
limitation changes in quantities of facilities or equipment, immaterial cost differences ,
and actions expressly authorized in the Service Plan.
XI. CONCLUSION
It is submitted that this Service Plan for the Districts , as required by Section 32- 1 -
203 (2) , establishes that:
1 . There is sufficient existing and projected need for organized service
in the area to be serviced by the Districts ;
2 . The existing service in the area to be served by the Districts is
inadequate for present and projected needs ;
3 . The Districts are capable of providing economical and sufficient
service to the area within their proposed boundaries ;
4 . The area to be included in the Districts does have, and will have, the
financial ability to discharge the proposed indebtedness on a reasonable basis ;
XII. RESOLUTION OF APPROVAL
The Districts agree to incorporate the City Council ' s resolution of approval,
including any conditions on any such approval, into the Service Plan presented to the
District Court for and in Larimer County, Colorado .
295346- 13 17
EXHIBIT A
EXHIBIT A= 1
Harmony Technology Park Metropolitan District Nos . 1 -3
Legal Description of Project Area Boundaries
EXHIBIT A
TST, INC . CONfVLTING ENGINRCgi
EXHIBIT A-1
HARMONY TECHNOLOGY PARK METROPOLITAN DISTRICT
PROJECT AREA BOUNDARIES
A TRACT OF LAND LOCATED IN THE NORTHWEST QUARTER OF SECTION 4 ,
TOWNSHIP 6 NORTH , RANGE 68 WEST , OF THE 6TH P . M . ; CITY OF FORT
COLLINS , COUNTY OF LARIMER , STATE OF COLORADO ; PARTS THEREOF
BEING A PORTION OF HARMONY TECHNOLOGY PARK FIRST FILING ,
RECORDED AT RECEPTION NUMBER 19980008473 , A PORTION OF HARMONY
TECHNOLOGY PARK SECOND FILING , RECORDED AT RECEPTION NUMBER
20010095807 AND A PORTION OF HARMONY TECHNOLOGY PARK THIRD
FILING , RECORDED AT RECEPTION NUMBER 20080034504 ; AND BEING MORE
PARTICULARLY DESCRIBED AS FOLLOWS :
COMMENCING AT THE NORTH QUARTER CORNER OF SAID SECTION 4 , AND
CONSIDERING THE NORTH LINE OF THE NORTHWEST QUARTER OF SAID
SECTION 4 TO HAVE A BEARING OF N89040 ' 08 "W , AS SHOWN ON THE
AFOREMENTIONED HARMONY TECHNOLOGY PARK SECOND FILING PLAT ,
WITH ALL OTHER BEARINGS RELATIVE THERETO ;
THENCE S38010' 25"W , 63 . 98 FEET TO A POINT ON THE WESTERLY RIGHT-OF -
WAY LINE OF LADY MOON DRIVE ( PLATTED AS CAMBRIDGE AVENUE ) AS
SHOWN ON THE AFOREMENTIONED HARMONY TECHNOLOGY PARK SECOND
FILING PLAT , SAID POINT ALSO BEING THE POINT OF BEGINNING ;
THENCE ALONG THE WESTERLY RIGHT-OF-WAY LINE OF LADY MOON DRIVE
( PLATTED AS CAMBRIDGE AVENUE ) AS SHOWN ON HARMONY TECHNOLOGY
PARK SECOND AND THIRD FILING PLATS , THE FOLLOWING EIGHT ( 8 )
COURSES :
1 . S00019'52 "W , 31 . 65 FEET
2 . 79 . 50 FEET ALONG THE ARC OF A CURVE TO THE RIGHT HAVING A
RADIUS OF 650 . 00 FEET , A CENTRAL ANGLE OF 07000'28" , AND A CHORD
WHICH BEARS S03050'06"W , 79 . 45 FEET ;
3 . S07020'20"W , 215 . 25 FEET ;
4 . 117 . 27 FEET ALONG THE ARC OF A CURVE TO THE LEFT HAVING A
RADIUS OF 742 . 00 FEET , A CENTRAL ANGLE OF 09003 '20" , AND A CHORD
WHICH BEARS S02048'40"W , 117 . 15 FEET ;
5 . S01 °43 '01 " E , 1 , 480 . 08 FEET ;
6 . S01 ° 47 ' 27" E , 82 . 83 FEET ;
7 . 148 . 29 FEET ALONG THE ARC OF A NON TANGENT CURVE TO THE LEFT
HAVING A RADIUS OF 1 , 117 . 00 FEET , A CENTRAL ANGLE OF 0703612411
1
AND A CHORD WHICH BEARS S06009' 12" E , 148 . 18 FEET ;
8 . S09057' 24" E , 154 . 83 FEET TO A POINT ON THE NORTHERLY LINE OF
TRACT A , HARMONY TECHNOLOGY PARK THIRD FILING ;
THENCE ALONG SAID NORTHERLY LINE , S89051 '22"W , 940 . 25 FEET ;
THENCE ALONG THE WESTERLY LINE OF SAID TRACT A , S00008 ' 38" E , 197 . 10
EXHIBIT A
FEET TO A POINT ON THE SOUTHERLY LINE OF LOT 1 , HARMONY
TECHNOLOGY PARK THIRD FILING ;
THENCE ALONG THE SOUTHERLY LINE OF SAID LOT 1 , N88 °47'35 few , 326 . 67
FEET ;
THENCE ALONG THE WESTERLY LINE OF SAID LOT 1 , THE FOLLOWING TWO
( 2 ) COURSES :
1 . 23 . 17 FEET ALONG THE ARC OF A CURVE TO THE RIGHT HAVING A
RADIUS OF 15 . 00 FEET , A CENTRAL ANGLE OF 88029 ' 14" , AND A CHORD
WHICH BEARS N44032 '58"W , 20 . 93 FEET ;
2 . N00018 '21 "W7 20 . 40 FEET ;
THENCE ALONG THE NORTHERLY BOUNDARY OF HARMONY TECHNOLOGY
PARK THIRD FILING AND ITS EXTENSION , N88047 ' 35"W , 85 . 03 FEET TO A POINT
ON THE RIGHT—OF—WAY LINE FOR ROCK CREEK DRIVE AS DEDICATED ON THE
DOCUMENT RECORDED AT RECEPTION NUMBER 2001085353 ;
THENCE ALONG SAID RIGHT—OF —WAY LINE THE FOLLOWING THREE ( 3 )
COURSES :
1 . S01 ° 12 '25"W , 20 . 00 FEET ;
2 . 23 . 56 FEET ALONG THE ARC OF A CURVE TO THE RIGHT HAVING A
RADIUS OF 15 . 00 FEET , A CENTRAL ANGLE OF 90000 '00" , AND A CHORD
WHICH BEARS S46012 '25"W , 21 . 21 FEET ;
3 . N88047 ' 35"W , 1 , 145 . 98 FEET TO A POINT ON THE EASTERLY RIGHT—OF—
WAY LINE FOR ZIEGLER ROAD AS DEDICATED ON THE DOCUMENT
RECORDED AT RECEPTION NUMBER 20030157902 ;
THENCE ALONG SAID EASTERLY RIGHT—OF—WAY LINE , N01042" 5"W , 1 , 364 . 43
FEET TO A POINT ON THE SOUTHERLY BOUNDARY LINE OF HARMONY
TECHNOLOGY PARK FIRST FILING ;
THENCE ALONG SAID SOUTHERLY BOUNDARY LINE , S89059' 12" E , 1 , 196 . 99
FEET TO A POINT ON THE WESTERLY RIGHT—OF—WAY LINE FOR TECHNOLOGY
PARKWAY AS SHOWN ON SAID HARMONY TECHNOLOGY PARK FIRST FILING ;
THENCE ALONG SAID WESTERLY RIGHT— OF—WAY LINE , THE FOLLOWING
SEVEN ( 7 ) COURSES :
1 . N00008 '38"W , 233 . 46 FEET ;
2 . N02057 ' 13"W , 277 . 71 FEET ;
3 . N09008 ' 33"W , 79 . 21 FEET ;
4 . N00008 ' 23"W , 176 . 70 FEET ;
5 . N02009 ' 31 " E7 49 . 52 FEET ;
6 . N00008 ' 38"W , 272 . 04 FEET ;
7 . 46 . 86 FEET ALONG THE ARC OF A CURVE TO THE LEFT HAVING A
RADIUS OF 30 . 00 FEET , A CENTRAL ANGLE OF 89029' 50" , AND A CHORD
WHICH BEARS N44053 '33"W , 42 . 24 FEET ;
THENCE S89038'2810E , 89 . 74 FEET ;
THENCE S84058'45" E , 69 . 37 FEET TO A POINT ON THE NORTHERLY BOUNDARY
LINE OF LOT 1 , HARMONY TECHNOLOGY PARK SECOND FILING ;
EXHIBIT A
THENCE ALONG SAID NORTHERLY BOUNDARY LINE , S89050'23" E , 817 . 56 FEET ;
THENCE CONTINUING ALONG SAID NORTHERLY BOUNDARY LINE , S89040'08" E ,
400 . 49 FEET TO THE POINT OF BEGINNING .
AND ALSO ,
TRACT A , HARMONY TECHNOLOGY PARK THIRD FILING , RECORDED AT
RECEPTION NUMBER 20080034504 .
SAID TRACT CONTAINS 113 . 36 ACRES MORE OR LESS AND IS SUBJECT TO ALL
RIGHTS -OF -WAY , EASEMENTS , AND RESTRICTIONS OF RECORD , OR THAT
NOW EXIST ON THE GROUND .
K:\ 1141 \0001 \Legals\project area . doc 7/30/2009
EXHIBIT A
EXHIBIT A=2
Harmony Technology Park Metropolitan District No . 1
Legal Description
EXHIBIT A
EXHIBIT A-2
HARMONY TECHNOLOGY PARK METROPOLITAN DISTRICT NO , 1
A TRACT OF LAND LOCATED IN THE NORTHWEST QUARTER OF SECTION 4 ,
TOWNSHIP 6 NORTH , RANGE 68 WEST , OF THE 6TH P . M . ; CITY OF FORT
COLLINS , COUNTY OF LARIMER , STATE OF COLORADO , BEING TRACT A ,
HARMONY TECHNOLOGY PARK THIRD FILING , RECORDED AT RECEPTION
NUMBER 20080034504 .
SAID TRACT CONTAINS 4 . 55 ACRES MORE OR LESS .
K:11141100011Legalslmetro 1 .doc 7/9/2009
EXHIBIT A
EXHIBIT A=3
Harmony Technology Park Metropolitan District No . 2
Legal Description
EXHIBIT A
EXHIBIT A-3
HARMONY TECHNOLOGY PARK METROPOLITAN DISTRICT NO , 2
A TRACT OF LAND LOCATED IN THE NORTHWEST QUARTER OF SECTION 4 ,
TOWNSHIP 6 NORTH , RANGE 68 WEST , OF THE 6TH P . M . ; CITY OF FORT
COLLINS , COUNTY OF LARIMER , STATE OF COLORADO , PARTS THEREOF
BEING A PORTION OF HARMONY TECHNOLOGY PARK FIRST FILING ,
RECORDED AT RECEPTION NUMBER 19980008473 , A PORTION OF HARMONY
TECHNOLOGY PARK SECOND FILING , RECORDED AT RECEPTION NUMBER
20010095807 AND A PORTION OF HARMONY TECHNOLOGY PARK THIRD
FILING , RECORDED AT RECEPTION NUMBER 20080034504 ; AND BEING MORE
PARTICULARLY DESCRIBED AS FOLLOWS :
COMMENCING AT THE NORTH QUARTER CORNER OF SAID SECTION 4 , AND
CONSIDERING THE NORTH LINE OF THE NORTHWEST QUARTER OF SAID
SECTION 4 TO HAVE A BEARING OF N89040 '08 "W , AS SHOWN ON THE
AFOREMENTIONED HARMONY TECHNOLOGY PARK SECOND FILING PLAT ,
WITH ALL OTHER BEARINGS RELATIVE THERETO ;
THENCE S38010 ' 25"W , 63 . 98 FEET TO A POINT ON THE WESTERLY RIGHT-OF-
WAY LINE OF LADY MOON DRIVE ( PLATTED AS CAMBRIDGE AVENUE ) AS
SHOWN ON THE AFOREMENTIONED HARMONY TECHNOLOGY PARK SECOND
FILING PLAT , SAID POINT ALSO BEING THE POINT OF BEGINNING ;
THENCE ALONG THE WESTERLY RIGHT-OF-WAY LINE OF LADY MOON DRIVE
( PLATTED AS CAMBRIDGE AVENUE ) AS SHOWN ON HARMONY TECHNOLOGY
PARK SECOND AND THIRD FILING PLATS , THE FOLLOWING EIGHT ( 8 )
COURSES :
1 . S00019'52 "W , 31 . 65 FEET
2 . 79 . 50 FEET ALONG THE ARC OF A CURVE TO THE RIGHT HAVING A
RADIUS OF 650 . 00 FEET , A CENTRAL ANGLE OF 07000'28" , AND A CHORD
WHICH BEARS S03050'06 "W , 79 . 45 FEET ;
3 . S07020' 20"W , 215 . 25 FEET ;
4 . 117 . 27 FEET ALONG THE ARC OF A CURVE TO THE LEFT HAVING A
RADIUS OF 742 . 00 FEET , A CENTRAL ANGLE OF 09003 '20" , AND A CHORD
WHICH BEARS S02048 '40"W , 117 . 15 FEET ;
5 . S01 ° 43'01 " E , 1 , 480 . 08 FEET ;
6 . S01 °47'27" E , 82 . 83 FEET ;
7 . 148 . 29 FEET ALONG THE ARC OF A NON TANGENT CURVE TO THE LEFT
HAVING A RADIUS OF 19117 . 00 FEET , A CENTRAL ANGLE OF 07036 '24" ,
AND A CHORD WHICH BEARS S06009 ' 12" E , 148 . 18 FEET ;
8 . S09057 ' 24" E , 154 . 83 FEET TO A POINT ON THE NORTHERLY LINE OF
TRACT A , HARMONY TECHNOLOGY PARK THIRD FILING ;
THENCE ALONG SAID NORTHERLY LINE , S89051 ' 22"W , 940 . 25 FEET ;
THENCE ALONG THE WESTERLY LINE OF SAID TRACT A , S00008'38" E9 197 . 10
FEET TO A POINT ON THE SOUTHERLY LINE OF LOT 1 , HARMONY
EXHIBIT A
TECHNOLOGY PARK THIRD FILING ;
THENCE ALONG THE SOUTHERLY LINE OF SAID LOT 1 , N88047 ' 35"W , 326 . 67
FEET ;
THENCE ALONG THE WESTERLY LINE OF SAID LOT 1 , THE FOLLOWING TWO
( 2 ) COURSES :
1 . 23 . 17 FEET ALONG THE ARC OF A CURVE TO THE RIGHT HAVING A
RADIUS OF 15 . 00 FEET , A CENTRAL ANGLE OF 88029' 14" , AND A CHORD
WHICH BEARS N44032'58"W , 20 . 93 FEET ;
2 . N00018 '21 "W , 20 . 40 FEET ,
THENCE ALONG THE NORTHERLY BOUNDARY OF HARMONY TECHNOLOGY
PARK THIRD FILING AND ITS EXTENSION , N88047'35"W , 85 . 03 FEET TO A POINT
ON THE RIGHT-OF -WAY LINE FOR ROCK CREEK DRIVE AS DEDICATED ON THE
DOCUMENT RECORDED AT RECEPTION NUMBER 2001085353 ;
THENCE ALONG SAID RIGHT-OF-WAY LINE THE FOLLOWING THREE ( 3 )
COURSES :
1 . S01 ° 12 '25"W , 20 . 00 FEET ;
2 . 23 . 56 FEET ALONG THE ARC OF A CURVE TO THE RIGHT HAVING A
RADIUS OF 15 . 00 FEET , A CENTRAL ANGLE OF 90000 '00" , AND A CHORD
WHICH BEARS S46012'25"W , 21 . 21 FEET ;
3 . N88047' 35"W9 1 , 145 . 98 FEET TO A POINT ON THE EASTERLY RIGHT- OF-
WAY LINE FOR ZIEGLER ROAD AS DEDICATED ON THE DOCUMENT
RECORDED AT RECEPTION NUMBER 20030157902 ,
THENCE ALONG SAID EASTERLY RIGHT-OF-WAY LINE , N01 042' 15"W , 19364 . 43
FEET TO A POINT ON THE SOUTHERLY BOUNDARY LINE OF HARMONY
TECHNOLOGY PARK FIRST FILING ;
THENCE ALONG SAID SOUTHERLY BOUNDARY LINE , S89059' 12" E , 17196 . 99
FEET TO A POINT ON THE WESTERLY RIGHT-OF-WAY LINE FOR TECHNOLOGY
PARKWAY AS SHOWN ON SAID HARMONY TECHNOLOGY PARK FIRST FILING ;
THENCE ALONG SAID WESTERLY RIGHT-OF-WAY LINE , THE FOLLOWING
SEVEN ( 7 ) COURSES :
1 . N00008'38"W , 233 . 46 FEET ;
2 . N02057 ' 13"W , 277 . 71 FEET ,
3 . N09008'33"W , 79 . 21 FEET ;
4 . N00008'23"W , 176 . 70 FEET ,
5 . N02009 ' 31 " E , 49 . 52 FEET ;
6 . N00008 ' 38"W , 272 . 04 FEET ;
7 . 46 . 86 FEET ALONG THE ARC OF A CURVE TO THE LEFT HAVING A
RADIUS OF 30 . 00 FEET , A CENTRAL ANGLE OF 89029'50" , AND A CHORD
WHICH BEARS N44053'33"W , 42 . 24 FEET ;
THENCE S89038 ' 28" E , 89 . 74 FEET ;
THENCE S84058 '45" E , 69 . 37 FEET TO A POINT ON THE NORTHERLY BOUNDARY
LINE OF LOT 1 , HARMONY TECHNOLOGY PARK SECOND FILING ;
THENCE ALONG SAID NORTHERLY BOUNDARY LINE , S89050'23" E , 817 . 56 FEET ;
THENCE CONTINUING ALONG SAID NORTHERLY BOUNDARY LINE , S89040 '08" E ,
400 . 49 FEET TO THE POINT OF BEGINNING .
SAID TRACT CONTAINS 108 . 81 ACRES (4 , 739 , 876 SQUARE FEET ) MORE OR
LESS AND IS SUBJECT TO ALL RIGHTS-OF-WAY , EASEMENTS , AND
RESTRICTIONS OF RECORD , OR THAT NOW EXIST ON THE GROUND .
K:11141 \00011Legalslmetro 2 Combined .doc 7/9/2009
EXHIBIT A
EXHIBIT A=4
Harmony Technology Park Metropolitan District No . 3
Legal Description
EXHIBIT A
EXHIBIT A=4
HARMONY TECHNOLOGY PARK METROPOLITAN DISTRICT NO , 3
A TRACT OF LAND LOCATED IN THE NORTHWEST QUARTER OF SECTION 4 ,
TOWNSHIP 6 NORTH , RANGE 68 WEST , OF THE 6TH P . M . ; CITY OF FORT
COLLINS , COUNTY OF LARIMER , STATE OF COLORADO , BEING TRACT A ,
HARMONY TECHNOLOGY PARK THIRD FILING , RECORDED AT RECEPTION
NUMBER 20080034504 .
SAID TRACT CONTAINS 4 . 55 ACRES MORE OR LESS .
KA1141100011Legalslmetro 3 .doc 7/9/2009
EXHIBIT A
EXHIBIT B - 1
Harmony Technology Park Metropolitan District Nos . 1 -3
Project Area Boundary Map
HARMONY TECHNOLOGY PARK METROPOLITAN DISTRICT NOS, 1 - 3 EXHIBIT B-1
FORT COLLINS, COLORADO
NORTHWEST MAP OF DISTRICT BOUNDARIES
CORNER HARMONY ROAD NORTH CORNER
SECTION 4 (COLORADO STATE HIGHWAY 68) SECTION
N 4
— — — — — — — — — — — — HARMONY TECHNOLOGY PARK METROPOLITAN
DISTRICT NOS 1 - 3
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748 Whalers Way
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WEST 1 /4 CORNER _ Phone: 970.226.0557
CENTER 1 SECTION 4 — — — — — — — — _ _ — _ _ /4 CORNER
ROCK CREEK DRIVE — — SECTION a Fax: 970.226.0204
Job no. 1141 .0001 .00
Filename: 001 metro dist base
JULY 9, 2009
EXHIBIT A
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Harmony Technology Park Metropolitan District No . 1
Map
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748 Whalen Way
Fort Collins, Colorado
Phone: 970.226.0557
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EXHIBIT A
EXHIBIT D
Infrastructure Preliminary Development Plan
EXHIBIT A
TST, INC . CONSULTING ENGINEERS
CONCEPTUAL OPINION OF COST
PROJECT : HARMONY TECHNOLOGY PARK
METROPOLITAN DISTRICT JOB NUMBER : 1141 , 0001 , 01
PREPARED BY : REN/ALM DATE : 7-30 -09
Public Improvement Unit Units Unit Cost Estimated District Cost
Quantity
Potable Water
241, PVC LF $210 605 $ 127 , 247
161, PVC LF $ 139 2 ,268 $314 , 195
121, PVC LF $63 5 ,286 $334 , 078
8" PVC LF $42 3 ,260 $ 136 ,478
6" PVC & Hydrants LF $399 284 $ 113 , 259
Total $ 1 ,025 ,257
Sanitary Sewer
8" PVC LF $42 %426 $396 , 181
Total $396 , 181
Storm System
54" RCP LF $288 61 $ 17 , 590
48" RCP LF $ 173 1 , 166 $2027142
36" RCP LF $ 125 473 $59 , 002
30" RCP LF $ 119 1 , 714 $203 , 142
24" RCP LF $ 110 2 , 738 $300 , 678
18" RCP LF $51 650 $33 ,207
15" RCP LF $36 135 $4 , 849
Regional Pond 1 LS $992 , 889 1 $992 , 889
Regional Pond 2 LS $524 , 054 1 $524 , 054
Regional Pond 3 LS $670 , 654 1 $670 , 654
Regional Pond 4 LS $205 , 960 1 $205 , 960
Regional Pond 5 LS $904 , 536 1 $904 , 536
Total $491189702
Streets
2-Lane Arterial (85' Corridor) LF $345 2 ,263 $779 , 665
Commercial Local (72' Corridor) LF $276 5 , 510 $ 1 , 520 , 720
Major Collector (66' Corridor) LF $240 2 ,621 $629 , 707
1 /2 of 4-Lane Arterial ( 115' Corridor) LF $236 1 , 356 $320 , 320
1 /2 of 2-Lane Arterial (85' Corridor) LF $ 152 2 ,613 $396 , 359
1 /2 of Major Collector (66' Corridor) LF $ 135 21656 $359 , 591
Roundabout LS $237 ,427 1 $237 ,427
Signalized Intersection Improvements LS $799 , 134 1 $799 , 134
Harmony Road Widening LS $374 ,460 1 $374 ,460
Total $5 ,4175381
Parks & Trails
Regional Trail LF $25 3 , 700 $92 , 500
Landscaping LS $477 ,467 1 $477 ,467
Total $569 , 967
Subtotals $11 ,527,488
Contingency (20% of Costs) $2,305,498
Engineering / Survey / C. M . (15% of costs) $1 ,72% 123
Total Infrastructure Costs $ 15 , 5625108
EXHIBIT A
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EXHIBIT A
EXHIBIT E
Financial Plan
EXHIBIT A
Harmony Technology Park Metro District 1
Larimer County, Colorado HTP Metro
Limited Tax General Obligation Bonds Cover
Series 2010 7/28/2009
Table of Schedules
Assumptions 30 Mills 2010 -2018 - $ 13 , 000, 000 Par
30 Mill Initial Bond Levy - (35 Mill Levy Cap)
5 Mill Operating Levy - (5 Mill Levy Cap)
Preliminary as of 07/27/2009
Non Rated - 8 .00% Interest Rate - Bank Qualified
Project Amount Project Amount
Par Amount (at Closing ) (with interest)
Series 2010 - 25 Year Term - 24 Month Construction Schedule $6,800,000 $454615000 $4 , 556 ,891
Series 2013 - 25 Year Term- 36 Month Construction Schedule $8,000 ,000 $5,239,000 $573797419
Combined (Level Draws) $ 14,8005000 $977007000 $9 , 9367311
1 . Cover Page
2 . Cashflow Schedule
3 . Lot Valuation Schedule - Page 1
4 . Lot Valuation Schedule - Page 2
5 . Commercial/Office/Retail Development - Page 1
6 . Commercial/Office/Retail Development - Page 2
7 . Assessed Valuation Summary
8 . Debt Service Schedule - Series 2010 Bonds
9 . Sources and Uses of Funds - Series 2010 Bonds
10 . Project Fund Schedule - Series 2010 Bonds
11 . Capitalized Interest Schedule - Series 2010 Bonds
12 . Debt Service Schedule - Series 2013 Bonds
13 . Sources and Uses of Funds - Series 2013 Bonds
14 . Project Fund Schedule - Series 2013 Bonds
15 . Capitalized Interest Schedule - Series 2013 Bonds
George K. Baum Company 7/28/2009
EXHIBIT A
Harmony Technology Park Metro District 2
Larimer County, Colorado HTP Metro
Limited Tax General Obligation Bonds CashBow
728/2009
Schedule of Cashflows 30 Mills 2010-2018 - $13,000,000 Par
Total Specific Earnings on Revenue $6,800,000 $8,0001000 Combined
Projected Ratio of Bond Property Operating Property Ownership Developer Cumulative Available Series 2010 Series 2010 Series 2013 Series 2013 Total 3% Bond / Annual Cumulative
Collectior Assessed Debt to Mill Tax @ Mill Tax @ Tax Advance/ Surplus for Net Debt Capitalized Net Debt Capitalized Net Operating Operating Surplus/ Surplus/
Year Value AV Levy 98.5% Levy 98.5% 7% (Repayment) 2.00% Debt Service Service Interest Service Interest Debt Service Expense Mill Levy Deficit Deficit
(1 ) (2) (3) (4) (5) (6) (7) (8) (9) (10) (11 ) (12) (13) (14) (15) (16) (17) (18) (19) (20)
at issue
2008 - 0 0 0 0
2010 21366,992 481 % 30.0 6%945 5.0 11 ,657 5,712 17,000 0 104,314 43%167 (439,167) 0 25,000 35.0 7%314 7%314
2011 315273282 323% 30.0 1043231 5.0 17,372 82512 18,000 13586 1492702 5272000 (527,000) - 0 352000 35.0 1143702 1943016
2012 61707,294 170% 30.0 198,201 5.0 33,033 16,186 17,000 3,880 268,301 527,000 (527,000) 0 50,000 35.0 218,301 412,316
2013 81941 ,324 127% 30.0 2643216 5.0 447036 212578 6,000 81246 344,076 527,000 5272000 502000 35.0 (232,924) 1793392
2014 15,255,695 75% 30.0 450,806 5.0 75,134 36,816 3,588 566,344 532,000 620,000 (620,000) 532,000 50,000 35.0 (15,656) 163,736
2015 20,794,231 55% 30.0 6143470 5.0 1027412 502182 31275 7703338 5463600 6207000 (6203000) 5467600 1003000 35.0 1233738 2873474
2016 24,528,535 46% 30.0 724,818 4.2 101 ,475 57,840 5,749 88%883 545,000 620,000 (542,500) 622,500 103,000 34.2 164,383 451 ,856
2017 30,0421848 38% 30.0 8873766 3.6 106,532 692601 91037 110723936 5433400 6207000 121637400 1063090 33.6 (196,554) 2553303
2018 35,380,399 32% 30.0 1 ,045,491 3.1 108,034 80,747 5,106 1 ,239,378 541 ,800 6209000 1 ,1619800 109,273 33.1 (31 ,695) 223,607
2019 42,9461571 26% 30.0 132693071 2.7 114,216 962830 41472 114843590 6353200 6907000 123257200 1123551 32.7 462839 2703446
2020 47,093,116 23% 30.0 1 ,391 ,602 2.5 115,967 1055530 (589000) 5,409 1 ,560,507 711 ,000 6949400 14059400 115,927 32.5 39,180 309,626
2021 53,7681083 19% 26.0 133773001 2.3 121 ,812 104,917 61193 116093922 7653000 7037000 124687000 1193405 28.3 222516 3323142
2022 59,487,765 16% 24.0 1 ,406,291 2.1 123,050 107,054 6,643 1 ,643,038 798,400 6959400 1 ,4939800 122,987 26.1 26,251 358,393
2023 64,5751482 14% 21 .0 133353744 2.0 127,214 102,407 71168 115723532 7123400 6927800 124057200 1263677 23.0 402655 3993048
2024 65,866,991 13% 21 .0 1 ,362,459 2.0 129,758 1045455 71981 1 ,604,653 731 ,200 6949800 1 ,4269000 130,477 23.0 48,176 447,224
2025 65,8661991 13% 21 .0 133623459 2.1 136,246 1042909 81944 116123558 6863800 7267000 124127800 1343392 23.1 652367 5123591
2026 67, 184,331 12% 21 .0 1 ,3899708 2.1 138,971 107,008 10,252 1 ,645,938 669,000 774,000 1443,000 138,423 23.1 64,515 577,105
2027 67, 184,331 11 % 21 .0 1 ,389,708 2.2 145,588 107,471 11 ,542 1 ,654,309 665,800 777,200 1 ,443,000 142,576 23.2 68,733 645,838
2028 68,528,018 10% 21 .0 114173502 2.2 148,500 1092620 12,917 136883539 6563000 8037800 124592800 1463853 23.2 812886 7273724
2029 68,528,018 9% 21 .0 1 ,417,502 2.3 155,250 110,093 14,554 1 ,697,399 695,000 781 ,800 1 ,476,800 151 ,259 23.3 69,340 797,065
2030 6%898,578 7% 21 .0 114453852 2.3 158,355 1122295 15,941 117323443 7533800 7797800 125332600 1553797 23.3 432046 8403111
2031 69,898,578 6% 21 .0 1 ,445,852 2.3 158,355 112,295 16,802 1 ,733,304 755,400 786,200 1 ,541 ,600 160,471 23.3 31 ,233 871 ,344
2032 71 ,2961550 5% 21 .0 114743769 2.4 168,545 1152032 17,427 117753773 7633800 755,200 125192000 1653285 23.4 912488 9623833
2033 71 ,296,550 3% 21 .0 1 ,474,769 2.4 168,545 115,032 19,257 1 ,777,603 778,200 759,600 1 ,537,800 170,243 23.4 69,560 1 ,032,392
2034 72,722,481 1 % 21 .0 115043265 2.5 17%079 1172834 20,648 118213826 8523800 761 ,600 12614,400 1753351 23.5 322075 110643467
2035 72,722,481 0% 13.0 931 ,211 2.5 1799079 77,720 21 ,289 1 ,209,300 756,200 756,200 180,611 15.5 272,489 1 ,336,956
2036 74, 176,930 0% 13.0 9493836 2.6 1897967 792786 26,739 112463328 7737800 7737800 1863029 15.6 2863499 116233455
2037 74, 176,930 0% 13.0 949,836 2.6 1899967 79,786 32,469 1 ,252,058 1 ,852,400 1 ,852,400 191 ,610 15.6 (791 ,952) 831 ,502
2038 74, 176,930 0% 11 .0 803,707 2.7 1977274 702069 16,630 110873679 - 125667800 125667800 1973359 13.7 (676,479) 1553023
30,45%085 326457424 213873316 0 3237746 36,8151570 1 16,358,767 (11493,167) 1929242800 (117823500) 3320077900 336522647 1552023
George K. Baum Company 7/28/2009
EXHIBIT A
Harmony Technology Park Metro District 3
Larimer County, Colorado HT- Met n
Limited Tax General Obligation Bonds Land vale
Land Valuation - Page 1
Phase
Phase i - C1 - Phase i - C2 - Phase i - C3 - Phase i - C4 - Phase i - 05 - Phase 2 - At - Phase 2 - A2 - Phase 3 - A3 - Phase 3 - A4 - Phase 3 - A5 - Phase 3 - A6 - Phase 3 - A7 - Phase 3 - Ali - Phase 3 - B1 - Phase 3 - B2 - Phase 3 - B3 - Undeveloped
Flex/R&D/Office Flex/R&D/Office Flex/R&D/Office Flex/R&D/Office Flex/R&D/Office Once Office Office Office Retail/Commercial Retail/Commercial Retail/Commercial Retail/Commercial Mixed Office /Com Office Office Land Assessed
Valuation Valuation
Market Market Market Market Market Market Market Market Market Market Market Market Market Market Market Market
Appraisal Value per Value per Value per Value per Value per Value per Value per Value per Value per Value per Value per Value per Value per Value per Value per Value per
Year Acres Acre Acres Acre Acres Acre Acres Acre Acres Acre Acres Acre Acres Acre Acres Acre Acres Acre Acres Acre Acres Acre Acres Acre Acres Acre Acres Acre Acres Acre Acres Acre 29%
2008 1.81 100,000 2.12 100,000 3.00 100,000 2.47 100,000 2.34 100,000 3.17 100,000 3.76 100,000 2.76 100,000 1.17 100,000 1.11 100,000 2.75 100,000 1.92 100,000 1 .61 100,000 3.11 100,000 2.21 100,000 2.12 100,000 3,743,000 1,085,470
2009 1 .81 100,000 2.12 100,000 3.00 100,000 2.47 100,000 2.34 100,000 3.17 100,000 3.76 100,000 2.76 100,000 1.17 100,000 1.11 100,000 2.75 100,000 1.92 100,000 1.61 100,000 3.11 100,000 2.21 100,000 2.12 100,000 3,743,000 1,085,470
2010 1.81 150,000 2.12 150,000 3.00 150,000 2.47 150,000 2.34 150,000 3.17 150,000 3.76 150,000 2.76 150,000 1.17 150,000 1.11 150,000 2.75 150,000 1.92 150,000 1.61 150,000 3.11 150,000 2.21 150,000 2.12 150,000 5,614,500 1,628,205
2011 1.81 150,000 2.12 150,000 3.00 150,000 2.47 150,000 2.34 150,000 3.17 150,000 3.76 150,000 2.76 150,000 1.17 150,000 1.11 150,000 2.75 150,000 1.92 150,000 1.61 150,000 3.11 150,000 2.21 150,000 2.12 150,000 5,614,500 1,628,205
2012 1.81 150,000 2.12 150,000 3.00 150,000 2.47 150,000 2.34 150,000 3.17 150,000 3.76 150,000 2.76 150,000 1.17 150,000 1.11 150,000 2.75 150,000 1.92 150,000 1.61 150,000 3.11 150,000 2.21 150,000 2.12 150,000 5,614,500 1,628,205
2013 1.81 150,000 2.12 150,000 3.00 150,000 2.47 150,000 2.34 150,000 3.17 150,000 3.76 150,000 2.76 150,000 1.17 150,000 1.11 150,000 2.75 150,000 1.92 150,000 1.61 150,000 3.11 150,000 2.21 150,000 2.12 150,000 5,614,500 1 ,628,205
2014 1.81 150,000 2.12 150,000 3.00 150,000 2.47 150,000 2.34 150,000 3.17 150,000 3.76 150,000 2.76 150,000 1.17 150,000 1.11 150,000 2.75 150,000 1.92 150,000 1.61 150,000 3.11 150,000 2.21 150,000 2.12 150,000 5,614,500 1,628,205
2015 1.81 150,000 2.12 150,000 3.00 150,000 2.47 150,000 2.34 150,000 3.17 150,000 3.76 150,000 2.76 150,000 1.17 150,000 1.11 150,000 2.75 150,000 1 .92 150,000 1 .61 150,000 3.11 150,000 2.21 150,000 2.12 150,000 5,614,500 1,628,205
2016 1 .81 175,000 2.12 175,000 3.00 175,000 2.47 175,000 2.34 175,000 3.17 175,000 3.76 175,000 2.76 175,000 1 .17 175,000 1.11 175,000 2.75 175,000 1.92 175,000 1.61 175,000 3.11 175,000 2.21 175,000 2.12 175,000 6,550,250 1,899,573
2017 1.81 175,000 2.12 175,000 3.00 175,000 2.47 175,000 2.34 175,000 3.17 175,000 3.76 175,000 2.76 175,000 1.17 175,000 1.11 175,000 2.75 175,000 1.92 175,000 1.61 175,000 3.11 175,000 2.21 175,000 2.12 175,000 6,550,250 1,899,573
2018 1.81 175,000 2.12 175,000 3.00 175,000 2.47 175,000 2.34 175,000 3.17 175,000 3.76 175,000 2.76 175,000 1 .17 175,000 1 .11 175,000 2.75 175,000 1 .92 175,000 1 .61 175,000 3.11 175,000 2.21 175,000 2.12 175,000 6,550,250 1 ,899,573
2019 1.81 175,000 2.12 175,000 3.00 175,000 2.47 175,000 2.34 175,000 3.17 175,000 3.76 175,000 2.76 175,000 1.17 175,000 1.11 175,000 2.75 175,000 1.92 175,000 1.61 175,000 3.11 175,000 2.21 175,000 2.12 175,000 6,550,250 1,899,573
2020 1.81 200,000 2.12 200,000 3.00 200,000 2.47 200,000 2.34 200,000 3.17 200,000 3.76 200,000 2.76 200,000 1.17 200,000 1.11 200,000 2.75 200,000 1 .92 200,000 1 .61 200,000 3.11 200,000 2.21 200,000 2.12 200,000 7,486,000 2,170,940
2021 1.81 200,000 2.12 200,000 3.00 200,000 2.47 200,000 2.34 200,000 3.17 200,000 3.76 200,000 2.76 200,000 1.17 200,000 1.11 200,000 2.75 200,000 1.92 200,000 1.61 200,000 3.11 200,000 2.21 200,000 2.12 200,000 7,486,000 2,170,940
2022 1.81 200,000 2.12 200,000 3.00 200,000 2.47 200,000 2.34 200,000 3.17 200,000 3.76 200,000 2.76 200,000 1.17 200,000 1.11 200,000 2.75 200,000 1 .92 200,000 1 .61 200,000 3.11 200,000 2.21 200,000 2.12 200,000 7,486,000 2,170,940
2023 1 .81 200,000 2.12 200,000 3.00 200,000 2.47 200,000 2.34 200,000 3.17 200,000 3.76 200,000 2.76 200,000 1 .17 200,000 1 .11 200,000 2.75 200,000 1 .92 200,000 1 .61 200,000 3.11 200,000 2.21 200,000 2.12 200,000 7,486,000 2,170,940
2024 1.81 200,000 2.12 200,000 3.00 200,000 2.47 200,000 2.34 200,000 3.17 200,000 3.76 200,000 2.76 200,000 1.17 200,000 1.11 200,000 2.75 200,000 1.92 200,000 1.61 200,000 3.11 200,000 2.21 200,000 2.12 200,000 7,486,000 2,170,940
2025 1.81 200,000 2.12 200,000 3.00 200,000 2.47 200,000 2.34 200,000 3.17 200,000 3.76 200,000 2.76 200,000 1.17 200,000 1.11 200,000 2.75 200,000 1.92 200,000 1.61 200,000 3.11 200,000 2.21 200,000 2.12 200,000 7,486,000 2,170,940
2026 1.81 200,000 2.12 200,000 3.00 200,000 2.47 200,000 2.34 200,000 3.17 200,000 3.76 200,000 2.76 200,000 1.17 200,000 1.11 200,000 2.75 200,000 1 .92 200,000 1 .61 200,000 3.11 200,000 2.21 200,000 2.12 200,000 7,486,000 2,170,940
2027 1 .81 200,000 2.12 200,000 3.00 200,000 2.47 200,000 2.34 200,000 3.17 200,000 3.76 200,000 2.76 200,000 1 .17 200,000 1 .11 200,000 2.75 200,000 1 .92 200,000 1 .61 200,000 3.11 200,000 2.21 200,000 2.12 200,000 7,486,000 2,170,940
2028 1.81 200,000 2.12 200,000 3.00 200,000 2.47 200,000 2.34 200,000 3.17 200,000 3.76 200,000 2.76 200,000 1.17 200,000 1.11 200,000 2.75 200,000 1.92 200,000 1.61 200,000 3.11 200,000 2.21 200,000 2.12 200,000 7,486,000 2,170,940
2029 1.81 200,000 2.12 200,000 3.00 200,000 2.47 200,000 2.34 200,000 3.17 200,000 3.76 200,000 2.76 200,000 1.17 200,000 1.11 200,000 2.75 200,000 1 .92 200,000 1 .61 200,000 3.11 200,000 2.21 200,000 2.12 200,000 7,486,000 2,170,940
2030 1 .81 200,000 2.12 200,000 3.00 200,000 2.47 200,000 2.34 200,000 3.17 200,000 3.76 200,000 2.76 200,000 1 .17 200,000 1 .11 200,000 2.75 200,000 1 .92 200,000 1 .61 200,000 3.11 200,000 2.21 200,000 2.12 200,000 7,486,000 2,170,940
2031 1.81 200,000 2.12 200,000 3.00 200,000 2.47 200,000 2.34 200,000 3.17 200,000 3.76 200,000 2.76 200,000 1.17 200,000 1.11 200,000 2.75 200,000 1.92 200,000 1.61 200,000 3.11 200,000 2.21 200,000 2.12 200,000 7,486,000 2,170,940
2032 1.81 200,000 2.12 200,000 3.00 200,000 2.47 200,000 2.34 200,000 3.17 200,000 3.76 200,000 2.76 200,000 1.17 200,000 1 .11 200,000 2.75 200,000 1 .92 200,000 1 .61 200,000 3.11 200,000 2.21 200,000 2.12 200,000 7,486,000 2,170,940
George K. Baum Company 7/2812009
EXHIBIT A
Harmony Technology Park Metro District -
Larimer County, Colorado r,P varo
Limited Tax General Obligation Bonds Land vale
Land Valuation - Page 2
Total Acres to Develop 80.02
Phase
Phase 3 - B4 - Phase 3 - B5 - Phase 3 - B6 - Phase 3 - B7 - Phase 3 - B8 - Phase 4 - D1 - Phase 4 - D2 - Phase 4 - D3 - Phase 4 - D4 - Phase 4 - D5 - Phase 4 - D6 - Phase 4 - D7 - Phase 4 - D8 - Phase 4 - D9 - Phase 4 - D10 - Combined Combined
Flex/R&D/Office Flex/R&D/Office Flex/R&D/Office Flex/R&D/Office Flex/R&D/Office Flex/R&D/Office Flex/R&D/Office FlexIR&DIOffice Flex/R&D/Office Office Office Office Flex/R&D/Office Retail/Commercial Flex/R&D/Office Land Assessed Market Assessed
Valuation Valuation Value Valuation
Market Market Market Market Market Market Market Market Market Market Market Market Market Market Market
Appraisal Value per Value per Value per Value per Value per Value per Value per Value per Value per Value per Value per Value per Value per Value per Value per
Year Acres Acre Acres Acre Acres Acre Acres Acre Acres Acre Acres Acre Acres Acre Acres Acre Acres Acre Acres Acre Acres Acre Acres Acre Acres Acre Acres Acre Acres Acre 29% 29%
2008 2.44 100,000 3.88 100,000 3.00 100,000 2.95 100,000 2.09 100,000 3.17 100,000 3.02 100,000 3.04 100,000 2.89 100,000 3.21 100,000 3.50 100,000 2.48 100,000 2.55 100,000 1.92 100,000 2.45 100,000 4,259,000 1,235,110 8,002,000 2,320,580
2009 2.44 100,000 3.88 100,000 3.00 100,000 2.95 100,000 2.09 100,000 3.17 100,000 3.02 100,000 3.04 100,000 2.89 100,000 3.21 100,000 3.50 100,000 2.48 100,000 2.55 100,000 1.92 100,000 2.45 100,000 4,259,000 1,235,110 8,002,000 2,320,580
2010 2.44 150,000 3.88 150,000 3.00 150,000 2.95 150,000 2.09 150,000 3.17 150,000 3.02 150,000 3.04 150,000 2.89 150,000 3.21 150,000 3.50 150,000 2.48 150,000 2.55 150,000 1.92 150,000 2.45 150,000 6,388,500 1,852,665 12,003,000 3,480,870
2011 2.44 150,000 3.88 150,000 3.00 150,000 2.95 150,000 2.09 150,000 3.17 150,000 3.02 150,000 3.04 150,000 2.89 150,000 3.21 150,000 3.50 150,000 2.48 150,000 2.55 150,000 1.92 150,000 2.45 150,000 6,388,500 1,852,665 12,003,000 3,480,870
2012 2.44 150,000 3.88 150,000 3.00 150,000 2.95 150,000 2.09 150,000 3.17 150,000 3.02 150,000 3.04 150,000 2.89 150,000 3.21 150,000 3.50 150,000 2.48 150,000 2.55 150,000 1.92 150,000 2.45 150,000 6,388,500 1,852,665 12,003,000 3,480,870
2013 2.44 150,000 3.88 150,000 3.00 150,000 2.95 150,000 2.09 150,000 3.17 150,000 3.02 150,000 3.04 150,000 2.89 150,000 3.21 150,000 3.50 150,000 2.48 150,000 2.55 150,000 1.92 150,000 2.45 150,000 6,388,500 1,852,665 12,003,000 3,480,870
2014 2.44 150,000 3.88 150,000 3.00 150,000 2.95 150,000 2.09 150,000 3.17 150,000 3.02 150,000 3.04 150,000 2.89 150,000 3.21 150,000 3.50 150,000 2.48 150,000 2.55 150,000 1.92 150,000 2.45 150,000 6,388,500 1,852,665 12,003,000 3,480,870
2015 2.44 150,000 3.88 150,000 3.00 150,000 2.95 150,000 2.09 150,000 3.17 150,000 3.02 150,000 3.04 150,000 2.89 150,000 3.21 150,000 3.50 150,000 2.48 150,000 2.55 150,000 1.92 150,000 2.45 150,000 6,388,500 1,852,665 12,003,000 3,480,870
2016 2.44 175,000 3.88 175,000 3.00 175,000 2.95 175,000 2.09 175,000 3.17 175,000 3.02 175,000 3.04 175,000 2.89 175,000 3.21 175,000 3.50 175,000 2.48 175,000 2.55 175,000 1.92 175,000 2.45 175,000 7,453,250 2,161 ,443 14,003,500 4,061 ,015
2017 2.44 175,000 3.88 175,000 3.00 175,000 2.95 175,000 2.09 175,000 3.17 175,000 3.02 175,000 3.04 175,000 2.89 175,000 3.21 175,000 3.50 175,000 2.48 175,000 2.55 175,000 1.92 175,000 2.45 175,000 7,453,250 2,161 ,443 14,003,500 4,061 ,015
2018 2.44 175,000 3.88 175,000 3.00 175,000 2.95 175,000 2.09 175,000 3.17 175,000 3.02 175,000 3.04 175,000 2.89 175,000 3.21 175,000 3.50 175,000 2.48 175,000 2.55 175,000 1.92 175,000 2.45 175,000 7,453,250 2,161 ,443 14,003,500 4,061 ,015
2019 2.44 175,000 3.88 175,000 3.00 175,000 2.95 175,000 2.09 175,000 3.17 175,000 3.02 175,000 3.04 175,000 2.89 175,000 3.21 175,000 3.50 175,000 2.48 175,000 2.55 175,000 1.92 175,000 2.45 175,000 7,453,250 2,161 ,443 14,003,500 4,061 ,015
2020 2.44 200,000 3.88 200,000 3.00 200,000 2.95 200,000 2.09 200,000 3.17 200,000 3.02 200,000 3.04 200,000 2.89 200,000 3.21 200,000 3.50 200,000 2.48 200,000 2.55 200,000 1.92 200,000 2.45 200,000 8,518,000 2,470,220 16,004,000 4,641 ,160
2021 2.44 200,000 3.88 200,000 3.00 200,000 2.95 200,000 2.09 200,000 3.17 200,000 3.02 200,000 3.04 200,000 2.89 200,000 3.21 200,000 3.50 200,000 2.48 200,000 2.55 200,000 1.92 200,000 2.45 200,000 8,518,000 2,470,220 16,004,000 4,641 ,160
2022 2.44 200,000 3.88 200,000 3.00 200,000 2.95 200,000 2.09 200,000 3.17 200,000 3.02 200,000 3.04 200,000 2.89 200,000 3.21 200,000 3.50 200,000 2.48 200,000 2.55 200,000 1.92 200,000 2.45 200,000 8,518,000 2,470,220 16,004,000 4,641 ,160
2023 2.44 200,000 3.88 200,000 3.00 200,000 2.95 200,000 2.09 200,000 3.17 200,000 3.02 200,000 3.04 200,000 2.89 200,000 3.21 200,000 3.50 200,000 2.48 200,000 2.55 200,000 1.92 200,000 2.45 200,000 8,518,000 2,470,220 16,004,000 4,641 ,160
2024 2.44 200,000 3.88 200,000 3.00 200,000 2.95 200,000 2.09 200,000 3.17 200,000 3.02 200,000 3.04 200,000 2.89 200,000 3.21 200,000 3.50 200,000 2.48 200,000 2.55 200,000 1.92 200,000 2.45 200,000 8,518,000 2,470,220 16,004,000 4,641 ,160
2025 2.44 200,000 3.88 200,000 3.00 200,000 2.95 200,000 2.09 200,000 3.17 200,000 3.02 200,000 3.04 200,000 2.89 200,000 3.21 200,000 3.50 200,000 2.48 200,000 2.55 200,000 1.92 200,000 2.45 200,000 8,518,000 2,470,220 16,004,000 4,641 ,160
2026 2.44 200,000 3.88 200,000 3.00 200,000 2.95 200,000 2.09 200,000 3.17 200,000 3.02 200,000 3.04 200,000 2.89 200,000 3.21 200,000 3.50 200,000 2.48 200,000 2.55 200,000 1.92 200,000 2.45 200,000 8,518,000 2,470,220 16,004,000 4,641 ,160
2027 2.44 200,000 3.88 200,000 3.00 200,000 2.95 200,000 2.09 200,000 3.17 200,000 3.02 200,000 3.04 200,000 2.89 200,000 3.21 200,000 3.50 200,000 2.48 200,000 2.55 200,000 1.92 200,000 2.45 200,000 8,518,000 2,470,220 16,004,000 4,641 ,160
2028 2.44 200,000 3.88 200,000 3.00 200,000 2.95 200,000 2.09 200,000 3.17 200,000 3.02 200,000 3.04 200,000 2.89 200,000 3.21 200,000 3.50 200,000 2.48 200,000 2.55 200,000 1.92 200,000 2.45 200,000 8,518,000 2,470,220 16,004,000 4,641 ,160
20291 2.44 200,000 3.88 200,000 3.00 200,000 2.95 200,000 2.09 200,000 3.17 200,000 3.02 200,000 3.04 200,000 2.89 200,000 3.21 200,000 3.50 200,000 2.48 200,000 2.55 200,000 1.92 200,000 2.45 200,000 8,518,000 2,470,220 16,004,000 4,641 ,160
20301 2.44 200,000 3.88 200,000 3.00 200,000 2.95 200,000 2.09 200,000 3.17 200,000 3.02 200,000 3.04 200,000 2.89 200,000 3.21 200,000 3.50 200,000 2.48 200,000 2.55 200,000 1.92 200,000 2.45 200,000 8,518,000 2,470,220 16,004,000 4,641 ,160
20311 2.44 200,000 3.88 200,000 3.00 200,000 2.95 200,000 2.09 200,000 3.17 200,000 3.02 200,000 3.04 200,000 2.89 200,000 3.21 200,000 3.50 200,000 2.48 200,000 2.55 200,000 1.92 200,000 2.45 200,000 8,518,000 2,470,220 16,004,000 4,641 ,160
2032 2.44 200,000 3.88 200,000 3.00 200,000 2.95 200,000 2.09 200,000 3.17 200,000 3.02 200,000 3.04 200,000 2.89 200,000 3.21 200,000 3.50 200,000 2.48 200,000 2.55 200,000 1.92 200,000 2.45 200,000 8,518,000 2,470,220 16,004,000 4,641 ,160
George K. Baum Company 712812009
EXHIBIT A
Harmony Technology Park Metro District 5
Larimer County, Colorado HTP Metro
Limited Tax General Obligation Bonds commercial 1
Retail/Commercial/Office Square Footage Developed - Page 1
Phase
Phase l - C1 - Phase l - C2 - Phase 1 - C3 - Phase l - C4 - Phasel - CS - Phase 2 - At - Phase 2 - A2 - Phase 3 - A3 - Phase 3 - A4 - Phase 3 - AS - Phase 3 - A6 - Phase 3 - A7 - Phase 3 - A8 - Phase 3 - B1 - Phase 3 - B2 - Phase 3 - B3 - Commercial
Retail/Commercia Retail/Commercia Retail/Commercia Retail/Commercia Mixed Office Development Assessed
Flex/R&D/Office FIexIR&DIOffice FIexIR&D/Office Flex/R&D/Office Flex/R&D/Office Office Office Office Office I I I I /Com Office Office Market Value Valuation
Completion Appraisal Square Value/ Square Value/ Square Value/ Square Value/ Square Value/ Square Value/ Square Value/ Square Value/ Square Value/ Square Value/ Square Value/ Square Value/ Square Value/ Square Value/ Square Value/ Square Value/
Year Year Footage Sq. Ft Footage Sq. Ft Footage Sq. Ft Footage Sq. Ft Footage Sq. Ft Footage Sq. Ft Footage Sq. Ft Footage Sq. Ft Footage Sq. Ft Footage Sq. Ft Footage Sq. Ft Footage Sq. Ft Footage Sq. Ft Footage Sq. Ft Footage Sq. Ft Footage Sq. Ft 29.00%
2007 2008 - -
2008 2009 150 150 150 150 150 200 200 200 200 225 225 225 225 - 175 - 175 - 175 - -
2010 2011 - 150 - 150 39,204 150 32,278 150 - 150 - 200 - 200 - 200 - 200 - 225 - 225 225 225 - 175 - 175 - 175 10,722,300 3,109,467
2011 2012 23,653 150 27,704 150 - 150 - 150 - 150 - 200 - 200 - 200 - 200 - 225 - 225 - 225 - 225 - 175 - 175 - 175 7,703,550 2,234,030
2012 2013 - 150 - 150 - 150 - 150 30,579 150 82,851 200 - 200 - 200 - 200 - 225 - 225 - 225 - 225 - 175 - 175 - 175 21 ,157,050 6,135,545
2013 2014 - 150 - 150 - 150 - 150 - 150 81 ,893 200 - 200 - 200 12,088 225 - 225 - 225 - 225 - 175 - 175 - 175 19,098,400 5,538,536
2014 2015 - 150 - 150 - 150 - 150 - 150 - 200 - 200 - 200 - 225 29,948 225 20,909 225 - 225 - 175 - 175 - 175 11 ,442,825 3,318,419
2015 2016 - 150 - 150 - 150 - 150 - 200 - 200 - 200 - 225 - 225 - 225 40,641 175 28,880 175 27,704 175 17,014,375 4,934,169
2016 2017 - 150 - 150 - 200 - 200 - 225 - 225 17,533 225 3,944,925 1 ,144,028
2017 2018 - 150 72,135 200 - 200 - 225 14,427,000 4,183,830
2018 2019 - 150 - 200 15,290 200 - 225 3,058,000 886,820
Total 23,653 27,704 39,204 32,278 31579 82,851 81 ,893 72,135 15,290 12,088 29,948 20909 17,533 40641 28,880 27,714
Acres 1 .81 2.12 3.00 2.47 2.34 3.17 3.76 2.76 1 .17 1 .11 2.75 1.92 1 .61 3.11 2.21 2.12
George K. Baum Company 7/2812009
EXHIBIT A
Harmony Technology Park Metro District 6
Larimer County, Colorado "WM
Limited Tax General Obligation Bonds cm a12
Retail/CommerciallOtFce Square Footage Developed - Page 2
Phase
Phase 3 - B4 . Phase 3 - B5 . Phase 3 - B6 - Phase 3 - B7 - Phase 3 - B8 - Phase 4 - D1 - Phase 4 - D2 - Phase 4 - D3 . Phase 4 - D4 - Phase 4 - D5 - Phase 4 - D6 - Phase 4 - D7 - Phase 4 - D8 - Phase 4 - IDS - Phase 4 - D10 - Total Square Commercial Combined Combined
FlexlR&D/Office FlexIR&D/Office FlexlR&D/Office FlexIR&D/Office Flex/R&D/Office FlexIR&D/Office FlerJR&D/Office FlexIR&D/Office Flex/R&DlOffice Office Office Office Flex/R&DlOffice Retail/Commercial FlerJR&D/Office Footage Development Assessed Market Assessed
Completed Market Value Valuation Value Valuation
Completion Appraisal Square Valuel Square Valuel Square Value/ Square Value/ Square Value/ Square Valuel Square Value/ Square Value/ Square Value/ Square Valuel Square Value/ Square Value/ Square Value/ Square Valuel Square Value/ (Incremental/ (Incremental)
Year Year Footage Sq. Ft Footage Sq. Ft Footage Sq. Ft Footage Sq. Ft Footage Sq. Ft Footage Sq. Ft Footage Sq. Ft Footage Sq. Ft Footage Sq. Ft Footage Sq. Ft Footage Sq. Ft Footage Sq. Ft Footage Sq. Ft Footage Sq. Ft Footage Sq. Ft 29.00%
2007 2008 - - - -
2008 2009 150 150 150 150 150 150 150 150 150 175 175 175 150 200 150 - - - - -
2010 2011 - 150 - 150 0 150 150 150 150 150 150 150 175 175 175 150 200 150 71,482 - - 10,722,300 3,109,467
2011 2012 - 150 - 150 0 150 - 150 150 150 150 150 150 175 175 175 150 200 150 51,357 - - 7,703,550 2,234,030
2012 2013 - 150 - 150 0 150 - 150 150 150 150 150 150 175 175 175 150 200 150 113,430 - - 21,157,050 6,135,545
2013 2014 - 150 - 150 D 150 - 150 - 150 150 150 150 150 175 175 175 150 - 200 150 93,981 - - 19,098,400 5,538,536
2014 2015 - 150 - 150 0 150 - 150 - 150 150 150 150 150 - 175 - 175 - 175 150 - 200 150 50,857 - - 11,442,825 3,318,419
2015 2016 - 150 - 150 0 150 - 150 - 150 - 150 - 150 - 150 - 150 - 175 - 175 - 175 - 150 - 200 - 150 97,225 - - 17,014,375 4,934,169
2016 2017 31,886 150 50,704 150 0 150 - 150 - 150 - 150 - 150 - 150 - 150 - 175 - 175 - 175 - 150 - 200 - 150 100,123 12,388,500 3,592,665 16,333,425 4,736,693
2017 2018 39,204 150 38,551 150 - 150 - 150 - 150 - 150 - 150 - 175 - 175 - 175 - 150 - 200 - 150 149,890 11,663,250 3,382,343 26,090,250 7,566,173
2018 2019 27,312 150 - 150 - 150 - 150 - 150 - 175 - 175 - 175 - 150 20,909 200 - 150 63,511 8,278,600 2,400,794 11,336,600 3,287,614
2019 2020 - 150 - 150 - 150 - 150 41,948 175 45,738 175 32,409 175 - 150 - 150 120,095 21,016,625 6,094,821 21,016,625 6,094,821
2020 2021 41,426 150 - 150 - 150 - 150 33,323 150 32,017 150 106,766 16,014,900 4,644,321 16,014,900 4,644,321
2021 2D22 - 39,465 150 39,727 150 37,767 150 116,959 17,543,850 5,087,717 17,543,850 5,087,717
Total 31,886 50,704 39,204 38,551 27,312 41,426 39,465 39,727 37,767 41,948 45,738 32,409 33,323 20,909 32,017 1,135,676 86,905,725 25,202,660 195,474,150 56,687,504
Acres 2,44 3.88 3.00 2,95 2.09 3.17 3.02 3.04 2.89 3.21 3.50 2.48 2.55 1.92 2.45
George K. Baum Company 7/28/2009
EXHIBIT A
Harmony Technology Park Metro District 7
Larimer County, Colorado HTP Metro
Limited Tax General Obligation Bonds AV Summary
Assessed Valuation Summary
Incremental Valuation Total Assessed Valuation
Completion Assessment Tax Collection Land Retail, Commercial Total Retail, Comm, Incremental Growth Factor Cumulative
Year Year Year Valuation and Office Development Office Development AV 2.0% Assessed Valuation
2007 2008 2009 21320,580 21320,580 213205580 - 253205580
2008 2009 2010 46,412 213669992
2009 2010 2011 171607290 - 11160,290 111607290 - 31527,282
2010 2011 2012 - 35109,467 31109,467 31109,467 70,546 6,7071294
2011 2012 2013 212345030 21234,030 25234,030 - 8,9415324
2012 2013 2014 691359545 61135,545 691359545 1785826 15,255,695
2013 2014 2015 51538,536 51538,536 515387536 - 207794,231
2014 2015 2016 - 35318,419 31318,419 31318,419 415,885 24,528,535
2015 2016 2017 5805145 419345169 51514,314 55514,314 - 30,042,848
2016 2017 2018 497369693 41736,693 497369693 6005857 35,380,399
2017 2018 2019 71566, 173 71566, 173 715667173 - 427946,571
2018 2019 2020 - 35287,614 31287,614 31287,614 858,931 4750935116
2019 2020 2021 5805145 650945821 61674,966 65674,966 - 535768,083
2020 2021 2022 4,6449321 41644,321 496449321 1 ,075,362 5%4871765
2021 2022 2023 5,0871717 51087,717 510877717 - 647575,482
2022 2023 2024 - - 11291 ,510 65,8665991
2023 2024 2025 - 65,866,991
2024 2025 2026 1 ,317,340 67, 1841331
2025 2026 2027 - 677184,331
2026 2027 2028 11343,687 6855285018
2027 2028 2029 - 685528,018
2028 2029 2030 113705560 6998989578
2029 2030 2031 - 697898,578
2030 2031 2032 11397,972 7152965550
2031 2032 2033 - 715296,550
2032 2033 2034 11425,931 7297229481
2033 2034 2035 - 727722,481
2034 2035 2036 11454,450 7451765930
2035 2036 2037 - - - - 745176,930
Total 41641 , 160 56,687,504 611328,664 61 ,3287664 12,848,267
George K. Baum Company 7/28/2009
EXHIBIT A
Harmony Technology Park Metro District HTP Metro 8
Larimer County, Colorado Debt Service
Limited Tax General Obligation Bonds 7/28/2009
Series 2010
Debt Service Schedule New Money
$6,800,000
Interest Annual Capitalized DSRF Earnings Net Annual
Date Principal Rate Interest P & I P & I Interest 2.50% P & I
06/01/10 - - 181 ,333.33 1812333.33 (175,666.67) (53666.67)
12/01/10 - 8.00 2727000.00 2723000.00 453,333.33 (2633500.00) (83500.00) 0.00
06/01/11 - - 272,000.00 2723000.00 (263,500.00) (83500.00)
12/01/11 - 8.00 2727000.00 2723000.00 5447000.00 (2633500.00) (83500.00) 0.00
06/01/12 - - 2727000.00 2723000.00 (263,500.00) (83500.00)
12/01/12 - 8.00 2727000.00 272,000.00 5447000.00 (2633500.00) (83500.00) 0.00
06/01/13 - - 2727000.00 2723000.00 (83500.00)
12/01/13 - 8.00 2727000.00 272,000.00 5447000.00 (83500.00) 527,000.00
06/01/14 - - 2727000.00 2723000.00 (83500.00)
12/01/14 52000 8.00 2727000.00 277,000.00 5497000.00 (83500.00) 532,000.00
06/01/15 - - 2717800.00 2713800.00 (83500.00)
12/01/15 202000 8.00 271 ,800.00 291 ,800.00 563,600.00 (83500.00) 546,600.00
06/01/16 - - 2717000.00 271 ,000.00 (83500.00)
12/01/16 202000 8.00 271 ,000.00 291 ,000.00 562,000.00 (83500.00) 545,000.00
06/01/17 - - 2707200.00 270,200.00 (81500.00)
12/01/17 202000 8.00 270,200.00 290,200.00 5%400.00 (81500.00) 543,400.00
06/01/18 - - 26%400.00 269,400.00 (81500.00)
12/01/18 202000 8.00 26%400.00 289,400.00 558,800.00 (81500.00) 5413800.00
06/01/19 - - 268,600.00 268,600.00 (81500.00)
12/01/19 1152000 8.00 2%600.00 3837600.00 652,200.00 (81500.00) 6353200.00
06/01/20 - - 264,000.00 264,000.00 (81500.00)
12/01/20 2002000 8.00 264,000.00 4647000.00 728,000.00 (81500.00) 7112000.00
06/01/21 - - 256,000.00 256,000.00 (81500.00)
12/01/21 2702000 8.00 256,000.00 526,000.00 7823000.00 (83500.00) 765,000.00
06/01/22 - - 245,200.00 2453200.00 (83500.00)
12/01/22 325,000 8.00 2457200.00 5703200.00 815,400.00 (83500.00) 798,400.00
06/01/23 - - 2327200.00 2323200.00 (83500.00)
12/01/23 265,000 8.00 2327200.00 4973200.00 7297400.00 (83500.00) 712,400.00
06/01/24 - - 2217600.00 2213600.00 (83500.00)
12/01/24 305,000 8.00 2217600.00 526,600.00 7487200.00 (83500.00) 731 ,200.00
06/01/25 - - 2097400.00 2093400.00 (83500.00)
12/01/25 285,000 8.00 2097400.00 494,400.00 7037800.00 (83500.00) 686,800.00
06/01/26 - - 1987000.00 1983000.00 (83500.00)
12/01/26 290,000 8.00 198,000.00 488,000.00 6867000.00 (83500.00) 66%000.00
06/01/27 - - 1867400.00 186,400.00 (81500.00)
12/01/27 310,000 8.00 186,400.00 496,400.00 6827800.00 (81500.00) 665,800.00
06/01/28 - - 174,000.00 174,000.00 (81500.00)
12/01/28 325,000 8.00 174,000.00 499,000.00 673,000.00 (81500.00) 656,000.00
06/01/29 - - 161 ,000.00 161 ,000.00 (81500.00)
12/01/29 390,000 8.00 161 ,000.00 5517000.00 712,000.00 (81500.00) 6953000.00
06/01/30 - - 145,400.00 145,400.00 (81500.00)
12/01/30 4803000 8.00 145,400.00 6257400.00 770,800.00 (81500.00) 7533800.00
06/01/31 - - 126,200.00 126,200.00 (81500.00)
12/01/31 5203000 8.00 126,200.00 6467200.00 772,400.00 (81500.00) 7553400.00
06/01/32 - - 105,400.00 1057400.00 (81500.00)
12/01/32 5702000 8.00 105,400.00 6757400.00 780,800.00 (81500.00) 7633800.00
06/01/33 - - 82,600.00 827600.00 (87500.00)
12/01/33 6302000 8.00 822600.00 7127600.00 795,200.00 (87500.00) 7783200.00
O6/01/34 57,400.00 57,400.00 (81500.00)
12/01/34 134357000 8.00 577400.00 1 ,492,400.00 1 ,549,800.00 (688,500.00) 852,800.00
6,8001000 10,660,933.33 17,4601933.33 17,460,933.33 (1 ,493, 166.67) (11102,166.67) 141865,600.00
Dated 02/01/10 Average Coupon 8.000000
NIC 8.102055
Settlement 02/01/10 TIC 8.213349
Arbitrage Yield 8.001772
Bond Years 133,261 .67
Average Life 19.60
Accrued Interest 0.00
George K. Baum Company 7/28/2009
EXHIBIT A
Harmony Technology Park Metro District 9
Larimer County, Colorado HTP Metro
Limited Tax General Obligation Bonds Sources/Uses
Series 2010 7/28/2009
Sources and Uses of Funds
Sources
Principal Amount of Bond Issue 6 , 800 , 000 . 00
618007000 . 00
Uses
Developer Reimbursement @ Closing 500 , 000 . 00
Project Fund 35961 , 000 . 00
Reserve Fund 6805000 . 00
Bond Discount $20 . 00 /$ 15000 1365000 . 00
Capitalized Interest Fund 15448 , 000 . 00
Cost of Issuance 755000 . 00
Contingency 0 . 00
6 , 800 , 000 . 00
George K. Baum Company 7/28/2009
EXHIBIT A
Harmony Technology Park Metro District 10
Larimer County, Colorado HTP Metro
Limited Tax General Obligation Bonds Project Fund
Series 2010 28-Jul-09
3 :33 PM
Project Draw Schedule 2010 Costs 114625000
2011 Costs 112983000
2012 Costs 152015000
Total Project Costs 359615000
Interest @ Project Fund
periods Date Days 10000% Draws Balance
02/01 / 10 initial deposit 379615000
1 03/01 / 10 28 65077 ( 1525277 ) 31814 , 800
2 04/01 / 10 31 65480 ( 1525680 ) 31668 , 600
3 05/01 / 10 30 65031 ( 1525231 ) 31522 , 400
4 06/01 / 10 31 55983 ( 1525183 ) 31376 , 200
5 07/01 / 10 30 55550 ( 1515750 ) 31230 , 000
6 08/01 / 10 31 55487 ( 1515687 ) 31083 , 800
7 09/01 / 10 31 55238 ( 1515438 ) 21937 , 600
8 10/01 / 10 30 41829 ( 1515029 ) 21791 , 400
9 11 /01 / 10 31 41742 ( 1505942 ) 21645 , 200
10 12/01 / 10 30 41348 ( 1505548 ) 21499 , 000
11 01 /01 / 11 31 45245 ( 1125412 ) 21390 , 833
12 02/01 / 11 31 45061 ( 1125228 ) 21282 , 667
13 03/01 / 11 28 35502 ( 1115669 ) 211747500
14 04/01 / 11 31 35694 ( 1115860 ) 21066 , 333
15 05/01 / 11 30 35397 ( 1115563 ) 11958 , 167
16 06/01 / 11 31 35326 ( 1115493 ) 11850 , 000
17 07/01 / 11 30 35041 ( 1115208 ) 11741 , 833
18 08/01 / 11 31 25959 ( 1115125 ) 11633 , 667
19 09/01 / 11 31 25775 ( 1105942 ) 11525 , 500
20 10/01 / 11 30 25508 ( 1105674 ) 11417 , 333
21 11 /01 / 11 31 25408 ( 1105574 ) 11309 , 167
22 12/01 / 11 30 25152 ( 1105319 ) 11201 , 000
23 01 /01 / 12 31 25040 (6025540 ) 6007500
24 02/01 / 12 31 15020 (6015520 ) 0
951891 (410565891 )
Average Life 1 . 201 Years
George K. Baum Company 7/28/2009
EXHIBIT A
Harmony Technology Park Metro District 11
Larimer County, Colorado HTP Metro
Limited Tax General Obligation Bonds Cap Int
Series 2010 28-Jul-09
3 : 38 PM
Capitalized Interest Schedule
Interest @ D/S Fund
periods Date Days 2 .0000% Draws Balance
02/01 / 10 initial deposit 1 ,448 , 000
1 06/01 / 10 120 97521 ( 175 , 667 ) 1 , 281 , 854
2 12/01 / 10 183 12 , 854 (2635500 ) 1 , 031 , 208
3 06/01 / 11 182 101284 (2635500 ) 7771992
4 12/01 / 11 183 701 (2635500 ) 5221293
5 06/01 / 12 183 5 , 237 (2635500 ) 264 , 030
6 12/01 / 12 183 2 , 648 (2635500 ) 3 , 178
48 , 345 ( 154935167 )
Average Life 1 . 654 Years
George K. Baum Company 7/28/2009
EXHIBIT A
Harmony Technology Park Metro District HTPMetro 12
Larimer County, Colorado Debt Service 3
Limited Tax General Obligation Bonds 7/28/2009
Series 2013
Debt Service Schedule New Money
$8,000,000
Interest Annual Capitalized DSRF Earnings Net Annual
Date Principal Rate Interest P & I P & I Interest 2.50% P & I
06/01 /14 - - 3203000.00 320,000.00 (3102000.00) (10,000.00)
12/01 /14 - 8.00 3203000.00 320,000.00 6403000.00 (310,000.00) (10,000.00) 0.00
06/01 /15 - - 3203000.00 320,000.00 (3103000.00) (10,000.00)
12/01 /15 - 8.00 3203000.00 320,000.00 6403000.00 (310,000.00) (10,000.00) 0.00
06/01 /16 - - 3203000.00 320,000.00 (3102000.00) (10,000.00)
12/01 /16 - 8.00 3203000.00 320,000.00 6403000.00 (232,500.00) (10,000.00) 777500.00
06/01 /17 - - 3203000.00 320,000.00 (102000.00)
12/01 /17 - 8.00 3203000.00 320,000.00 6403000.00 (102000.00) 6207000.00
06/01 /18 - - 3203000.00 320,000.00 (102000.00)
12/01 /18 - 8.00 3203000.00 320,000.00 6403000.00 (102000.00) 6207000.00
06/01 /19 - - 3203000.00 320,000.00 (102000.00)
12/01 /19 707000 8.00 3203000.00 390,000.00 7103000.00 (102000.00) 6907000.00
06/01 /20 - - 3173200.00 317,200.00 (102000.00)
12/01 /20 807000 8.00 3173200.00 397,200.00 7143400.00 (102000.00) 6947400.00
06/01 /21 - - 3143000.00 314,000.00 (102000.00)
12/01 /21 957000 8.00 3143000.00 409,000.00 7233000.00 (102000.00) 7037000.00
06/01 /22 - - 3103200.00 310,200.00 (102000.00)
12/01 /22 957000 8.00 3103200.00 405,200.00 7153400.00 (102000.00) 6957400.00
06/01 /23 - - 3063400.00 306,400.00 (102000.00)
12/01 /23 100,000 8.00 3063400.00 406,400.00 7123800.00 (102000.00) 6927800.00
06/01 /24 - - 3023400.00 302,400.00 (102000.00)
12/01 /24 110,000 8.00 3023400.00 412,400.00 7143800.00 (102000.00) 6947800.00
06/01 /25 - - 2983000.00 298,000.00 (103000.00)
12/01 /25 150,000 8.00 298,000.00 448,000.00 746,000.00 (10,000.00) 726,000.00
06/01 /26 292,000.00 292,000.00 (10,000.00)
12/01 /26 210,000 8.00 292,000.00 502,000.00 794,000.00 (10,000.00) 774,000.00
06/01 /27 - 283,600.00 283,600.00 (10,000.00)
12/01 /27 230,000 8.00 283,600.00 513,600.00 797,200.00 (10,000.00) 777,200.00
06/01 /28 - 274,400.00 274,400.00 (10,000.00)
12/01 /28 275,000 8.00 274,400.00 54%400.00 823,800.00 (10,000.00) 803,800.00
06/01 /29 - 263,400.00 263,400.00 (10,000.00)
12/01 /29 275,000 8.00 263,400.00 538,400.00 801 ,800.00 (10,000.00) 781 ,800.00
06/01 /30 - 252,400.00 252,400.00 (10,000.00)
12/01 /30 295,000 8.00 2523400.00 547,400.00 7993800.00 (102000.00) 7797800.00
06/01 /31 - - 2403600.00 240,600.00 (102000.00)
12/01 /31 325,000 8.00 2403600.00 565,600.00 8063200.00 (102000.00) 7867200.00
06/01 /32 - - 2273600.00 227,600.00 (102000.00)
12/01 /32 320,000 8.00 2273600.00 547,600.00 7753200.00 (102000.00) 755,200.00
06/01 /33 - - 2143800.00 214,800.00 (102000.00)
12/01 /33 350,000 8.00 2143800.00 564,800.00 7793600.00 (102000.00) 7597600.00
06/01 /34 - - 2003800.00 200,800.00 (102000.00)
12/01 /34 380,000 8.00 2003800.00 580,800.00 7813600.00 (102000.00) 7617600.00
06/01 /35 - - 1853600.00 185,600.00 (102000.00)
12/01 /35 405,000 8.00 1853600.00 590,600.00 7763200.00 (102000.00) 7567200.00
06/01 /36 - - 1693400.00 16%400.00 (102000.00)
12/01 /36 455,000 8.00 1693400.00 624,400.00 7933800.00 (102000.00) 7737800.00
06/01 /37 - - 1513200.00 151 ,200.00 (102000.00)
12/01 /37 1 ,570,000 8.00 1513200.00 11721 ,200.00 178722400.00 (102000.00) 128527400.00
06/01 /38 - - 883400.00 882400.00 (102000.00)
12/01 /38 2,2101000 8.00 88,400.00 21298,400.00 273862800.00 (810,000.00) 125667800.00
8,0002000 132224,800.00 2172243800.00 212224,800.00 (177823500.00) (113002000.00) 18, 1422300.00
Dated 12/01/13 Average Coupon 8.000000
NIC 8.096788
Settlement 12/01/13 TIC 8.207257
Arbitrage Yield 8.000000
Bond Years 165,310.00
Average Life 20.66
Accrued Interest 0.00
George K. Baum Company 7/28/2009
EXHIBIT A
Harmony Technology Park Metro District 13
Larimer County, Colorado HTP Metro
Limited Tax General Obligation Bonds Sources/Uses 3
7/28/2009
Series 2013
Sources and Uses of Funds New Money
Sources
Principal Amount of Bond Issue 8 , 000 , 000 . 00
8 , 000 , 000 . 00
Uses
Project Fund 55239 , 000 . 00
Reserve Fund 800 , 000 . 00
Bond Discount $20 . 00 /$ 11000 160 , 000 . 00
Capitalized Interest Fund 1 , 726 , 000 . 00
Cost of Issuance 755000 . 00
Contingency 0 . 00
8 , 000 , 000 . 00
George K. Baum Company 7/28/2009
EXHIBIT A
Harmony Technology Park Metro District 14
Larimer County, Colorado HTP Metro
Limited Tax General Obligation Bonds Project Fund 3
28-J u I-09
Series 2013 2012 Costs 21465, 300 3:33 PM
Project Draw Schedule 2013 Costs 15047 , 725
2014 Costs 11125, 300
2015 Costs 6001675
Total Project Costs 552391000
Interest @ Project Fund
periods Date Days 2,0000% Draws Balance
12/01 /13 initial deposit 55239 , 000
1 01 /01 /14 31 81899 (255,429) 45992 ,470
2 02/01 /14 31 81480 (255, 010) 41745 , 940
3 03/01 /14 28 71281 (253, 811 ) 45499 ,410
4 04/01 /14 31 71643 (254, 173) 45252 , 880
5 05/01 /14 30 61991 (253, 521 ) 45006 , 350
6 06/01 /14 31 61805 (253, 335) 31759 , 820
7 07/01 /14 30 61181 (252 , 711 ) 35513 , 290
8 08/01 /14 31 51968 (252 ,498) 35266760
9 09/01 /14 31 57549 (252 , 079) 35020 , 230
10 10/01 /14 30 41965 (251 ,495) 21773 , 700
11 11 /01 /14 31 41711 (92 , 022) 25686 , 390
12 12/01 /14 30 41416 (91 , 726) 25599 , 079
13 01 /01 /15 31 41415 (91 , 725) 25511769
14 02/01 /15 31 41267 (91 , 577) 21424 ,458
15 03/01 /15 28 31720 (91 , 030) 25337 , 148
16 04/01 /15 31 31970 (91 ,280) 25249 , 838
17 05/01 /15 30 31698 (91 , 009) 25162527
18 06/01 /15 31 31673 (90 , 984) 21075 , 217
19 07/01 /15 30 31411 (90 , 722 ) 15987 , 906
20 08/01 /15 31 31377 (90 , 687) 15900596
21 09/01 /15 31 37228 (90 , 539) 15813 , 285
22 10/01 /15 30 21981 (90 ,291 ) 11725 , 975
23 11 /01 /15 31 21932 (96 , 707) 15632 , 200
24 12/01 /15 30 21683 (96 ,458) 15538 ,425
25 01 /01 /16 31 21613 (96 , 388) 15444 , 650
26 02/01 /16 31 21454 (96 ,229) 11350 , 875
27 03/01 /16 29 21147 (95, 922) 15257 , 100
28 04/01 /16 31 21135 (95, 910) 15163 , 325
29 05/01 /16 30 17912 (95, 687) 15069550
30 06/01 /16 31 11817 (95, 592) 975, 775
31 07/01 /16 30 11604 (95, 379) 882 , 000
32 08/01 /16 31 11498 (95,273) 7881225
33 09/01 /16 31 17339 (95, 114) 6941450
34 10/01 /16 30 11142 (94 , 917) 600 , 675
35 11 /01 /16 31 11020 (301 , 358) 300 , 338
36 12/01 /16 30 494 (300, 831 ) 0
1401419 (51379 ,419)
Average Life 1 . 333 Years
George K. Baum Company 7/28/2009
EXHIBIT A
Harmony Technology Park Metro District 15
Larimer County, Colorado HTP Metro
Limited Tax General Obligation Bonds Cap lnt3
28-Jul-09
Series 2013 3 : 38 PM
Capitalized Interest Schedule
Interest @ D/S Fund
periods Date Days 2 .0000% Draws Balance
12/01 / 13 initial deposit 1 , 726 , 000
1 06/01 / 14 182 17 , 213 (310 , 000 ) 1 ,433 , 213
2 12/01 / 14 183 141371 (310 , 000 ) 1 , 1371584
3 06/01 / 15 182 111345 (310 , 000 ) 8381929
4 12/01 / 15 183 81412 (310 , 000 ) 5371341
5 06/01 / 16 183 5 , 388 (310 , 000 ) 2321729
6 12/01 / 16 183 2 , 334 (232 , 500 ) 21563
59 , 063 ( 11782 , 500 )
Average Life 1 . 696 Years
George K. Baum Company 7/28/2009