SHALL EL RANCHO FLORIDA METROPOLITAN DISTRICT DEBTBE INCREASED UP TO $2,000,000 WITH A MAXIMUM
REPAYMENT COST OF $3,775,717; AND SHALL EL RANCHO FLORIDA METROPOLITAN DISTRICT TAXES BE INCREASED NOT MORE THAN $188,786 ANNUALLY, OR BY SUCH LESSER ANNUAL AMOUNT AS MAY BE NECESSARY TO PAY THE DISTRICT DEBT: SUCH DEBT TO CONSIST OF GENERAL OBLIGATION BONDS OR OTHER FINANCIAL OBLIGATIONS. ISSUED OR INCURRED FOR THE PURPOSE OF PAYING, REIMBURSING, OR FINANCING ALL OR ANY PART OF THE COSTS OF IMPROVING THE DISTRICT'S WATER SYSTEM,WHICH IMPROVEMENTS MAY INCLUDE BUT ARE NOT LIMITED TO:

• CONSTRUCTION OF ADDITIONAL WATER STORAGE TANKS ANO ASSOCIATED SITE IMPROVEMENTS:
• "ADDRESS LOW PRESSURE ISSUES THAT EXISTED IN HIGHER ELEVATIONS:
• UPGRADE THE EARLY WARNING DETECTION SYSTEM;
• PERFORM REQUIRED REPAIRS ON THE EXISTING 60,000 GALLON STORAGE TANK;
• REPL.ACE AND UPGRADE WATER LINES AS NEEDED;
• "ADD MAIN LINE ISOLATION VALVES AND METERS;
• ADD FIRE HYDRANTS AND ADDRESS LA PLATA COUNTY'S FIRE CODE REQUIREMENTS;
• " MAKE PUMPHOUSE ANO ELECTRICAL IMPROVEMENTS:
• REPLACE WATER METERS;

AND SHALL THE MILL LEVY BE INCREASED IN ANY YEAR, WITHOUT LIMITATION OF RATE AND IN AN AMOUNT SUFFICIENT TO PAY THE PRINCIPAL OF, PREMIUM, IF ANY, ANO INTEREST ON SUCH DEBT OR ANY REFUNDING DEBT (OR TO CREATE A RESERVE FOR SUCH PAYMENT), SUCH DEBT TO BE EVIDENCED BY THE ISSUANCE OF GENERAL OBLIGATION BONDS OR ANY OTHER FINANCIAL OBLIGATION OF THE DISTRICT BEARING INTEREST AT A MAXIMUM NET EFFECTIVE INTERESTED RATE NOT TO EXCEED 7%: SUCH BONDS TO BE SOLD IN ONE SERIES OR MORE, FOR A PRICE ABOVE OR BELOW THE PRINCIPAL AMOUNT OF SUCH SERIES, ON TERMS AND CONDITIONS, AND WITH SUCH MATURITIES AS PERMITTED BY LAW AND AS THE DISTRICT MAY DETERMINE, INCLUDING PROVISIONS FOR REDEMPTION OF THE BONDS PRIOR TO MATURITY WITH OR WITHOUT PAYMENT OF THE PREMIUMOF NOT TO EXCEED THREE PERCENT; AND SHALL THE DISTRICT BE AUTHORIZED TO ISSUE DEBT TO REFUND THE DEBT AUTHORIZED IN THIS QUESTION, PROVIDED THAT AFTER THE ISSUANCE OF SUCH REFUNDING DEBT THE TOTAL OUTSTANDING PRINCIPAL AMOUNT OF ALL DEBT ISSUED PURSUANT TO THIS QUESTION DOES NOT EXCEED THE MAXIMUM PRINCIPAL AMOUNT SET FORTH ABOVE, AND PROVIDED FURTHER THAT ALL DEBT ISSUED BY THE DISTRICT PURSUANT TO THIS QUESTION IS ISSUED ON TERMS THAT DO NOT EXCEED THE REPAYMENT COSTS AUTHORIZED IN THIS QUESTION; AND SHALL SUCH TAX REVENUES AND THE EARNINGS FROMTHE INVESTMENT OF SUCH BOND PROCEEDS AND TAX REVENUES BE COLLECTED, RETAINED AND SPENT AS A VOTER APPROVED REVENUE CHANGE UNDER ARTICLE X, SECTION 20 OF THE COLORADO CONSTITUTION OR ANY OTHER LAW?