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I I I I I I I I I I I I I I I I I I I major landowner/developers to place a first deed of trust on their lands to guarantee tap fee payments for the benefit of the bondholders. This fee commitment to develop was joined with a schedule of guaranteed minimum and maximum annual mill levies designed to give a predictable annual stream of revenue to the bondholders, while simultaneously protecting the homeowners from runaway taxes. The bulk of the available revenues from the District had to be pledged to the bondholders in order to get the District out of bankruptcy and avoid the assured destruction of the community under the court mandamus order. The controlling concern in structuring the workout was to maximize revenue for bond repayment while not burdening future development to the point that growth could not occur. The bondholders permitted a small portion of the future tap fees to be allocated to future District capital improvements, but this amount will not be adequate to meet all future District needs. On the advice of Colorado Department of Local Affairs, the Douglas County Commissioners, and others, additional funding from grants and loans have been sought to fill the gap between the needs of the community and the available revenues. The community of Castle Pines North and the owners of the 498 homes in it have diligently worked to rectify the problems of a district created by the State of Colorado and an overzealous developer. These citizens have created a workout plan that will succeed with the continued assistance of lenders and developers. The 9 Jehn Water Consultants, Inc.