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I I I I I I I I I I I I I I I I I I I the number there is a 1. of units should begin to increase again, because demand for homes in the price range of District No. District No. 1 was formed on July 20, 1978 with about 40 persons voting in favor of the District and one opposed. In August 22, 1978, approximately $1,600,000.00 in bonds were issued in the name of the District to fund the construction of water and sewer facilities. The cost of streets and roads was included in the indebtedness of the District later. The infrastructure to serve all 225 units was in place by about 1980. District No. 1 utilizes 150,000 and 350,000 gallon treated water storage tanks, located on the west boundary of the District for a water supply. The larger tank is jointly owned by both Districts but is primarily used by District No.1. Water is presently provided by three wells, No.3, No.7, and No.9. Wells 7 and 9 produce about 14 gpm each and Well 3 about 3 gpm. Well 3 is not utilized, except in the summer when the demand is very high and every drop of water is needed. Water is distributed to homes by a system of eight and six-inch pipelines. The water system is adequate to serve all the platted units. District No. 1 has a five-member board of directors and a part-time manager. An operator is employed part-time to operate the water and sewer systems. The District does not own any equipment and must contract or hire when necessary. The 1986 audit report of District No. 1 is included in Appendix 1. The assets and liabilities in 1985 and 1986 were $1,097,925.00 and $1,062,908.00 respectively. The expenses in 1985 and 1986 were $36,974.00 and $31,364.00 respectively; and the revenues were $42,697.00 in 1985 and $57,168.00 in 1986. DISTRICT NO. 2 District No. 2 was formed on July 11, 1979 and encompasses an area of 1,093 acres, making it nearly ten times the size of District No.1. District No. 2 currently has lots platted for what is known as Phases I and II which include 395 units. The infrastructure for these lots is installed. The area for Phases I and II is only about 20% of the land area within the District. District No. 2 was planned as an exclusive development with homes generally over $100,000.00 and some are in the $200,000.00 range. A golf course is planned within the District at some time in the future. The lots are about 50% to 100% larger than the lots in District No.2. Presently there are about 175 units constructed as of the summer of 1987. The developer of the homes in District No.1, Ted Neergaard, has a contract with the District to pay tap fees on ten new homes per year. In 1987 the developer constructed 15 new units. District No. 2 is - 5 -