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<br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br /> <br />statute, where the concept was approved by Resolution. Specifically, the organizational <br />documents of the Districts called for Powderhorn Metropolitan District No. 1 to own and <br />operate all of the physical facilities, to be funded through system revenues and tax <br />revenues collected by Powderhorn Metropolitan District No.2. Powderhorn Metropolitan <br />District No. 1 is a "closely held" metropolitan district, in that its actual boundaries <br />encompass very little ground, and therefore its tax paying electors are limited in number. <br />Powderhorn Metropolitan District No. 2's boundaries encompass the remainder of the <br />Powderhorn Ski Area and, accordingly, the financial powers of that District are controlled <br />by the larger electorate consisting of owners of time share units and other property within <br />District No.2. <br /> <br />One principal reason for this two-district relationship is that the service area of the <br />Districts is intended to be not only the area lying within the boundaries of Powderhom <br />Metropolitan District No.2, but also what is commonly known as the Gingery Service <br />Area, that access to the main water and sewer facilities be maintained for the purpose of <br />serving the broader area and, accordingly, desired that Powderhorn Metropolitan District <br />No.1 remain "closely held" by representatives of the developer of the ski resort. The <br />developers would, therefore, be subject to pressure by the County, both political and <br />contractual, to extend service to the larger area. <br /> <br />The Directors of Powderhorn Metropolitan District No. 1 are: <br /> <br />Ted A. Martin, Owner of the Powderhorn Ski Resort <br />W. Steven Bailey, a retired military officer and unit owner <br />Allen J. Munro, Grand Junction business man and unit owner <br />William R. Brown, Jr., retired ski resort operator <br />Timothy E. Foster, former State Senator and Grand Junction Attorney <br /> <br />Powderhorn Metropolitan District No. 2's Board of Directors consists of: <br /> <br />Ted A. Martin <br />Timothy E. Foster <br />Sheila Dole, Director of Goldenwood's Homeowners Association and unit owner <br />Tom H. Connolly, Boulder Attorney and trustee in the Mesa Ski Bankruptcy <br />Ben E. Nichols, Jr. Colbran business man and unit owner <br /> <br />3 <br />