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NOSI E OF ,rL CTIQN TO NCR ASE DEBT <br /> PUBLIC NOTICE IS HEREBY GIVEN that on Tuesday, <br /> November 7, 1995, between the hours of 7:00 a.m nd 7:00 p.m. , <br /> Morgan County Quality Water District, Morgan a i ton <br /> Counties, Colorado (the "District") , will subm. ible <br /> electors of the District the following ba iss <br /> QUESTION <br /> Pirr. <br /> SHALL MORGAN COUNTY QUALITY WATER DISTRICT DEHILOE <br /> INCREASED BY NOT MORE THAN $3,000,000 IN PRINCIP. <br /> AMOUNT, [WITH A REPAYMENT COST OF NOT MORE THAN <br /> $5;663 , 576 TOTAL PRINCIPAL AND INTEREST BY THE ISSUANCE <br /> OF WATER REVENUE BONDS FOR THE PURPOSE OF FINANCING <br /> AND/OR REFINANCING, IF NECESSARY OR DESIRABLE, THE <br /> ACQUISITION OF WATER AND WATER RIGHTS AND RELATED LAND, <br /> MINERALS AND MINERAL RIGHTS, SUCH BONDS TO BE PAYABLE <br /> SOLELY FROM THE REVENUES OF THE DISTRICT'S WATER SYSTEM <br /> AND EARNINGS FROM THE INVESTMENT OF SUCH REVENUES OR <br /> THE PROCEEDS OF SUCH BONDS, TO BECOME DUE AND PAYABLE <br /> WITHIN 20 YEARS OF THE DATE OR RESPECTIVE DATES OF SUCH <br /> BONDS, TO BEAR INTEREST AT A. NET EFFECTIVE INTEREST <br /> RATE NOT EXCEEDING 7% PER ANNUM, AND TO BE CALLABLE FOR <br /> REDEMPTION PRIOR TO MATURITY WITH OR WITHOUT A PREMIUM, <br /> AS MAY LATER BE DETERMINED BY THE BOARD OF DIRECTORS, <br /> AND IN CONNECTION THEREWITH SHALL MORGAN COUNTY QUALITY <br /> WATER DISTRICT BE AUTHORIZED TO RECEIVE AND EXPEND SUCH <br /> REVENUES AND EARNINGS IN AMOUNTS EQUAL TO SUCH <br /> PRINCIPAL, INTEREST AND PREMIUM FOR THE PURPOSE OF <br /> PAYING SUCH PRINCIPAL, INTEREST AND PREMIUM, <br /> NOTWITHSTANDING ANY APPLICABLE LIMITATION ON REVENUES <br /> AND EXPENDITURES, INCLUDING THE LIMITATIONS SET FORTH <br /> IN ARTICLE X, SECTION 20 OF THE COLORADO CONSTITUTION? <br /> The actual or estimated total of District fiscal year <br /> spending for the current year and each of the past four years is <br /> as follows: <br /> Fiscal Year <br /> Yea Soend;ng <br /> 1995 $1,307, 364 (estimated) ' <br /> 1994 1,150, 443 (actual) <br /> 1993 1,073, 375 (actual) <br /> 1992 3,767, 954 (actual) <br /> 1991 880,369 (actual) <br /> The overall percentage change and dollar change from 1991 to <br /> 1995, inclusive, are 48.5% and $426, 995, respectively. <br /> APPENDIX A <br />