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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. -2- 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 ` -3- 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 I DISTRICTS I DISTRICT ACREAGE DISTRICT 1 4.55 AC. I I TIMBERWOOD DRIVE O I DISTRICT 2 Ll 71 .60 AC. yZ1 I - >t I S DISTRICT 3 4.55 AC. IM m I t 0 d , z y cc 8 > z I ¢I It I N TST. INC. CONSULTING ENGINEERS PRECISION T � , I I I I I I I I I I I I I I PREPARED BY: T ST, INC, CONSULTING ENGINEERS 748 Whalers Way i Fort Collins, Colorado 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 EXHIBIT B=2 Harmony Technology Park Metropolitan District No . 1 Map EXHIBIT A MWAAV 3F)ala9N4vo 8Y a3ijLYU 3AM NOM ACM r r T O Z F T U _ v a: � cv M 0 J � Fm am O r' cc v� WC N Y Q a 0 — O J " O W W � Z ; Z o a z W n u � z V O W i cm e W ! Fgg 0 Z Q � p 3 m cm S X QMMA W = Y EXHIBIT A EXHIBIT B=3 Harmony Technology Park Metropolitan District No . 2 Map EXHIBIT A ~ z W WF Kt W W Nco O z O� \ U Wof pp � F W U :Z. Z U) c' OU � - - - - - - - - - - - -� Z p - - - - Cjf1N3AV 30aRi9WV0 8V a3UyW 3A1!!G NOOW AGVl U W F- I Z Zz f I - - - co Z (D W o Iml / j I U) I O IFI 6vxt - w5 Q OI o ' I I ICI AVAk)18yd AO01ONHO31 04 LO j Q O biz a Z N w } U m 0 _ 3W O � 00 , U J �_ o Up) Z D m = Z OD 0 Q F.. m >' O � 0CL XaFM Ld W = B (a loN avod AIMM) GVOu U319317 tn tnI Of W o Z 0 � s U z o N F Z x 8 U Of O s _ z " f b < S n a / Y EXHIBIT A EXHIBIT B=4 Harmony Technology Park Metropolitan District No . 3 Map EXHIBIT A OWMAV Maidewvo sv asur140 3Mdo NOC" Ravi M o Z o U _ M H " C U m H Z O G H J a cc W N � o Y J Q d U — — 0 J a Z " U L 0 r n Wz o rr m Z ODD r n p m_ S N J X Q D W = Y EXHIBIT A EXHIBIT C Vicinity Map - - - ` - - I. ,. III I1111 I11111111111 I111111111 . . rr'r, : 111111 1111111111111I IIII , 111111 - • - - � 11 ►� �� . I1111111111 � � - \I11 � .\ IIIIIII IIIII IIII/ \ ��I ►.-/ � � ■ it I III III I . . %Ii IN III III IIII I111//I /•,�' , IIII Ill � . - __ _ Inlnl ' 111111U , 11111111111 IIIIIIi• � � 111111111 ► . � I , _ ► II .. nl - nlnn`1 r • I IIIIIIInI ► Imill _ n_1 ,., _■■■IIIII ii1'Ii1 �I; t _\`\ ■ ■ ■ ■ ■ ■ IIIII IIII \� .II`f �n11111111u ► '�"=• �� ■ IIIII 10 . I .-•- IN ` UI .. ..: IN Raw ■ m � ■ ,,I 1111111 � _ :IIIII . _ ■ IIII . . . ■ , . 11I11I1 . III/.I.. 11 ►� - 1II .1� ► 1 uIIIIIIl . IIq \ ,11 • �IIIIII ♦ � LASIIIII =,. IIIII .; MINI , . 1111111 'O mr1��, ♦,� ♦� i %L 1 '�,/II I I I I I II IIIII � � _ - - _ _ - 101111 I„IIIIi l }Ill�� ♦��lilt% .Ill . _ - - - - _ 1• / ' •A - a IN ROCK CREEK IIIIA = V1111� - _ no ; _ , , 11 1111 - - ■ _ ulnas _ 1 DRIVE • • limpoll Q 111111 • � .. III \ = IIIII - 1111111 • 1 ♦111III1 ♦ � �1 /\• ; i �I11. IIII _ - IIII II' - Illlllln - _ ' - - - 111111111 l . IIII _ 11111111111111111 � Million n1n11 ' IIIII • /. ,IIIII111 �► IIp , .In1111` 1 �1 I . I11 � � I11 \i ii \II .� III111 ■ 1111111111 ,_1�I 1 1111nll l ll ' llll . ■_ I ' I - Mill In 111111111 / y , 1111111111 Iuu11 ► In I I 1 I I I I I • YR�-/.-�.1 - IIII I I I I I I I 1 II I I1 I I I I / 111111111 II111111 _ ■ � - 111111 IIIIIIIIII I ' 11111111111 nllllll , I Ito, Mario I in 1111111 ll�I m - IIIII 0IS "I E . �MM � : ,. ;III .;, ;. (INN. All I l u II II I IIII, I = IIIII ■ � /I I/ �/ Ill I I I I I I �� ''�,` �� RR le 1 • . . rin li lt ti • � - / unl ' IIII ► " ,� \\ TST NG ENGINEERS 748 Whalen Way Fort Collins, Colorado Phone: 970.226.0557 - 1 1 DIRMCM 970.226.0204 Job no. IIIII II G Filename: 4 IIIII . . s III 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 w n _ O Z m< MEGLER ROAD ^m . ------� -vl - -- r� _ .A C V U JL--12 --� �Q` (J - F 1 O mn r ° O LJIL.--z l n � ! D Elr mom �-- r TECHNOLOGY PARKWAY , S co) ` J m O r mM v � ° O -v O r LADY MOON DRNE Z v 0 o - v `MC � Z O .Z v sM'imn W ; o g °° Elf AN a mn . I zv i cC a m o� mm0 w az * o � omrocd I00 > uII n00 m ow � 0v n ID m o r� �Rl 5 Ogmz III] m 0 �� EXHIBIT A O Z ZIEOLER ROAD rnn L ; -- -J O Onr ° OMME 7ECHN011i PARKWAY , n V0 T� o om m v � ° O -v O r OMMM LADY MOON DRIVE Z v C0 �o n u �0 & y gI IE vFm " Opi ; A;(9A mill 00 [03 �QLZ OD p � 1 TT so 0 r �17 0 * 6 Nry CN��z EXHIBIT A r O Z ZIEGLER ROAD m 1 Lio0 1 1 !' mn 1 j jl 1 O 1 1 r 1 1 ° O 1 1 1 r TECHNOLOGY PARKWAY 1 S 0 0 � mM o � O � O 0 � O r LADY MOON DRIVE 7 F > v 0 mmi 01 v ��� rya o t ` O 1 oo � J 1 �'® mZ Omn AIS X .� U � SO � o n7111 Vl � Jc0 _. `L O/ 0NJpm 0 m q frp� p C p0 L4+ N m c �I / + 9 + � $ m mmtiz (, / on� o � a z � rWOO W on� ocn o .c _ 11 11 N G)o [ o n I�� o 7C 0 o , �+>sz EXHIBIT A w c> T 2 O Z ZIEGLER ROAD ■ 'i ' )� ' � 1 � Ul � �i ��- - ram --- � � '� • i �----'~ FJ LJ L, Z ■ � i ■ ■ i mr 0 ' O • r " Z • CHNOLOOY PARKWA '^ $ • D 9XE ■ ■• 0 T^ ■ I ■ o ■ ■ s r0 a v • o • 9 O ■ 9 ■ n ■ ■ T ■ z V • O • 9 ■ ■ ■ • r • .. . . . . . . ..... . . . . ... . . . . . ...... . . . . ..... . ......seen ■ ages �•••••••• LADY MOON DRIVE D Z v �o 0 -9 E� omom s dal - . .• i i i 1 11�1p D r" � o G � O = , 00zJ � _ iii i m70 < � A 0co °, F ° ■. '. Z O> ; � O NNN Nr{ O 4 T I.o � rm m O J O J = J fl n / p p 0 ® O G O ; N m E M Z m m D� z m pO ENO. m m 1 F Z 000rn "No@ y m CC CC a [f z 5 / onpio � a ° m my O mmm c9iF0 QQiI fl _ � O NONO � i m m S g � m G go r W Z F p A N a 2 i Z E g 1 m U) J O z O Oo 1�1 8 Z� p 17 * m F 9 n 00 �+Z'Z 0 EXHIBIT A m O z ZIEMER ROAD m - � � vIJUL��t =- ' O ' mr 0 ' O --- - - , i L_ JL- -C ......_---------------- NOLOOY PARKWAY Z'A 8 x c! / Q � o r mM n � o � O O - JL r LADY MOON DRIVE z v n m o = , xg 0, m < mcO � ?1 m nrj ICAR rm %OFII ^PoNo � v rnm � z 000 � � �� I oo . Ix `to UNo n J r = C O 9 ' " � z I - r N N ZZ, C) o NI 7�C �+�z 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