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I I I I I I I I I I I I I I I I I I I CASTLE PINES NORTH METROPOLITAN DISTRICT I. INTRODUCTION Castle Pines North Metropolitan District (the "District"), a quasi-municipal corporation was established in 1984. The purpose of the District is to provide water, wastewater collection, street improvements, storm drainage and park/recreation facilities to the Castle Pines North Community. The raw water supply is obtained from three wells completed into the Arapahoe aquifer underlying the District Property. The existing pumping units installed in each of those wells are in need of replacement because of age and declining water levels in the aquifer. The District has recently successfully emerged from bankruptcy and is again experiencing new development which is placing increasing demands on the supply system. The proposed project is to replace the existing pumping units with larger units at deeper setting and to upgrade well vaults and controls to keep up with those demands. Alternatives were considered, including the drilling of additional wells and acquiring water from other sources, all of which were either more costly or not available to the District. The project will be financed through a loan from the Colorado Water Conservation Board, a Grant from the Energy & Mineral Impact Assistance Fund and District funds. Repayment will be accomplished by water and sewer fee assessments, and possible rate structure increases. A financial plan is presented showing the funding and repayment under the preferred alternative. 1 Jehn Water Consultants, Inc.