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WITHIN OR WITHOUT THE BOUNDARIES OF THE SUBDISTRICT, A POTABLE AND
<br /> NON-POTABLE WATER SUPPLY, STORAGE, TRANSMISSION AND DISTRIBUTION
<br /> SYSTEM FOR DOMESTIC AND OTHER PUBLIC AND PRIVATE PURPOSES BY ANY
<br /> AVAILABLE MEANS, AND TO PROVIDE ALL NECESSARY OR PROPER TREATMENT
<br /> WORKS AND FACILITIES, EQUIPMENT, AND APPURTENANCES INCIDENT
<br /> THERETO INCLUDING, BUT NOT LIMITED TO, WELLS, WATER PUMPS, WATER
<br /> TANKS, WATER LINES, WATER FEATURES, PURIFICATION PLANTS, PUMP
<br /> STATIONS, TRANSMISSION LINES, DISTRIBUTION MAINS AND LATERALS, FIRE
<br /> HYDRANTS, METERS, WATER TAPS, IRRIGATION FACILITIES, CANALS, DITCHES,
<br /> WATER RIGHTS, FLUMES, PARTIAL FLUMES, HEADGATES, DROP STRUCTURES,
<br /> STORAGE RESERVOIRS AND FACILITIES TOGETHER WITH ALL NECESSARY,
<br /> INCIDENTAL AND APPURTENANT FACILITIES, EQUIPMENT, LAND, EASEMENTS,
<br /> AND EXTENSIONS OF AND IMPROVEMENTS TO SUCH FACILITIES, AND, AS
<br /> NECESSARY AND CONVENIENT THEREFOR, THE ACQUISITION OF PROPERTY AND
<br /> EASEMENTS ACQUIRED BY CONDEMNATION OR OTHERWISE, SUCH DEBT TO BE
<br /> PAID FROM ANY LEGALLY AVAILABLE REVENUES OF THE SUBDISTRICT,
<br /> INCLUDING THE PROCEEDS OF AD VALOREM PROPERTY TAXES; AND SHALL THE
<br /> MILL LEVY BE INCREASED IN ANY YEAR, WITHOUT LIMITATION OF RATE AND IN
<br /> AN AMOUNT SUFFICIENT TO PAY THE PRINCIPAL OF, PREMIUM, IF ANY, AND
<br /> INTEREST ON SUCH DEBT OR ANY REFUNDING DEBT (OR TO CREATE A RESERVE
<br /> FOR SUCH PAYMENT), SUCH DEBT TO BE EVIDENCED BY THE ISSUANCE OF
<br /> GENERAL OBLIGATION BONDS, REVENUE BONDS, NOTES, CERTIFICATES,
<br /> DEBENTURES, OR OTHER MULTIPLE-FISCAL YEAR FINANCIAL OBLIGATIONS
<br /> INCLUDING, BUT NOT LIMITED TO, LOANS, CONTRACTS, LEASES, AND
<br /> INTERGOVERNMENTAL AGREEMENTS; SUCH DEBT TO BE SOLD IN ONE SERIES
<br /> OR MORE, FOR A PRICE ABOVE OR BELOW THE PRINCIPAL AMOUNT OF SUCH
<br /> SERIES, ON TERMS AND CONDITIONS, AND WITH SUCH MATURITIES AS
<br /> PERMITTED BY LAW AND AS THE SUBDISTRICT MAY DETERMINE, INCLUDING
<br /> PROVISIONS FOR REDEMPTION OF THE BONDS PRIOR TO MATURITY WITH OR
<br /> WITHOUT PAYMENT OF THE PREMIUM, PROVIDED THAT THE NET EFFECTIVE
<br /> INTEREST RATE SHALL NOT EXCEED 18% PER ANNUM, SUCH INTEREST TO BE
<br /> PAYABLE AT SUCH TIME OR TIMES, AND WHICH MAY COMPOUND ANNUALLY OR
<br /> SEMIANNUALLY; AND SHALL THE SUBDISTRICT BE AUTHORIZED TO ISSUE DEBT
<br /> TO REFUND THE DEBT AUTHORIZED IN THIS QUESTION, PROVIDED THAT AFTER
<br /> THE ISSUANCE OF SUCH REFUNDING DEBT THE TOTAL OUTSTANDING PRINCIPAL
<br /> AMOUNT OF ALL DEBT ISSUED PURSUANT TO THIS QUESTION DOES NOT EXCEED
<br /> THE MAXIMUM PRINCIPAL AMOUNT SET FORTH ABOVE, AND PROVIDED
<br /> FURTHER THAT ALL DEBT ISSUED BY THE SUBDISTRICT PURSUANT TO THIS
<br /> QUESTION IS ISSUED ON TERMS THAT DO NOT EXCEED THE REPAYMENT COSTS
<br /> AUTHORIZED IN THIS QUESTION; AND SHALL THE PROCEEDS OF ANY SUCH DEBT
<br /> AND THE REVENUE FROM SUCH TAXES, ANY OTHER REVENUE USED TO PAY
<br /> SUCH DEBT, AND INVESTMENT EARNINGS THEREON, BE COLLECTED, RETAINED
<br /> AND SPENT BY THE SUBDISTRICT AS A VOTER-APPROVED REVENUE CHANGE,
<br /> WITHOUT REGARD TO ANY SPENDING, REVENUE-RAISING, OR OTHER
<br /> LIMITATION CONTAINED WITHIN ARTICLE X, SECTION 20 OF THE COLORADO
<br /> CONSTITUTION OR ANY OTHER LAW?; and
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