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<br />..:......\ <br /> <br />NOTICE OF ELECTION TO INCR~ASE DEBT <br /> <br />PUBLIC NOTICE IS HEREBY GIVEN that on Tuesday, <br />November 7, 1995, between the hours of 7:00 a.m. and 7:00 p.M., <br />Morgan County Quality Water District, Morgan and WaShington <br />Counties, colorado (the "District"), will submit to the eligible <br />electo~s of the District the following ballot issue: <br /> <br />QuESTION <br /> <br />SP_~LL MORGil.N COUNTY QtIJ>.L:J:TY WATER DISTRICT DEBT SE <br />INCREASED BY NOT MORE TM'! ~3,000,OOO IN PRINCIP.~ <br />A;'lOUNT, WITH A REPAYMENT COST OF NO'l' MORE THAN <br />55,663,576 TOTAL PRINCIP}.1 AND INTEREST BY THE ISSUANCE <br />OF WATER REVENUE BONDS FOR THE PURPOSE OF FINANCING <br />il~D/OR REFINANCING, IF N~CESSARY OR DESIRABLE, THE <br />ACQUISITION OF NATER AND W).TER RIGHTS AND RELATED LAND, <br />HINERALS AND MINERAL RIGl:iTS, StICH BONDS TCI BE P,\y)JjLE <br />SOLELY FROl'! Tli':: REVENUES Of THE DISTRICT'S WATER SYSTEM <br />.~.ND EAR1\fINGS fROM THE IW'::STMENT OF SUCH REVENUES OR <br />Tl:E PROc:c;ZOS 0; SUCH BONOS, TO BECO~I:: DUE AND PAY.\BLE <br />1-i:;:THIN 20 YEARS or THE DATE OR RESPECTIVE OATES OF SUCH <br />BONDS, TO BEAR INTEREST }.T A. NET EFfECTIVE INTEREST <br />R.~.TE NOT EXCEEDING 7% PER }.NNUM, AND TO BE CALWLE FOR <br />R:::OEMPTION PRIOR TO MATURITY WITH OR WITHOUT A PREMIUM, <br />AS MAY L1>.TER BE DETERMINED BY THE BOARD OF DIRECTORS, <br />J..ND IN CONNECTION THEREWITH SHALL MORGAN COUNTY QUALITY <br />H}.TER DISTRICT BE AtlTHOR!Zt:D TO RECE!VE AND EXPEND SUCH <br />REVENUES AND EARNINGS IN ~OUNTS EQUAL TO StICH <br />PRINCIP.l\.L, INTEREST AND PREMIUM FOR THE PURPOSE OF <br />PAYING SUCH PRINCIPAL, INTEREST AND PREMIUM, <br />NOTWITHSTANDING ANY APPLICABLE LIMIT,).TION ON REV::WES <br />MD EXPENDITURES, INCLUDING THE LIMITATIONS SET FORTH <br />IN ARTICLE X, SECTION 20 OF THE COLOR.WO CONSTITUTION? <br /> <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 follotvs: . <br /> <br />Year <br /> <br />Fiscal Year <br />Soenciinq <br /> <br />1995 ~l,307, 364 (estimated) <br />1994 ).,150,443 (actual) <br />1993 1,073,375 (actual) <br />1992 ',767,9.54 (actual) <br />1991 880,369 (actual) <br /> <br />The oVe~all pe~centage change and dollar change from 1991 to <br />1995, inclusive, are 48.5% and S426,995, respectively. <br /> <br />APPENDIX A <br />