The meeting was called to order by Mike Deck at 4:03 PM. Those in attendance were the board members (Mike Deck, Bill Barclay, Bob Farmer, Bob Champ and R. A. Ristinen) and Dick Lyons (Legal Counsel). Mary Wagner (Financial) and Terry Kenyon (Engineering) were absent. Richard Hire from the Water District was also present at the meeting.

Secretary’s Report:

The minutes of the previous meeting (19 June 2000) were discussed and a motion was made by Bob Farmer that we approve the minutes of the meeting. The motion was seconded by Bill Barclay and approved (Bob Ristinen abstained because of his absence for this meeting).

Treasurers Report:

Bob Farmer handed out a balance sheet, profit and loss ytd comparison, profit and loss budget vs. actual and the checking and Colotrust registers.

There was discussion of where the interest payment on the bonds was located in the budget. Bob Farmer will ask Mary where this item is budgeted. Also, it was discussed that we do a percentage accounting of the budget each month.

Engineering Report:

In Terry Kenyon’s absence, Mike and Bill discussed their tour of the pumphouse that they made yesterday. A groundlevel room of about 12 x 15 feet is above the pumps and pressure tanks. This pumphouse will primarily stay intact and service the district located up Spring Drive. The pumphouse may need improvements, such as a new roof, in the near future. Terry will have to inspect the tanks, etc. as to their serviceability. The space between the pumphouse and the ditch will have to be determined and then it can be resolved whether additional water storage can be placed there. Discussion ensued on whether this lot is buildable. PPMWA owns the lot and it is not known whether the lot is buildable. The logistics of transferring the lot and the pumphouse to the District from PPMWA must be addressed in the near future.

Old Business:

Formation Committee Contributions:

Mike had a printout of contributions of people not in the district. The amount has not yet been totaled but it is estimated to be much lower than our budget amount of $30K. We feel that 90% of the money was contributed by people still in the district. Those people in the district will have their contributions refunded during the payment of their tap fee. Others will be repaid, depending on our ability to contact them.

2001 Budget Process and Calendar:

Dick Lyons provided a Local Government Budget Calendar. A Budget Officer must be appointed so that he can submit a proposed budget by 15 Oct. The budget must be finalized prior to Dec. 15^th.

Calendar for Rules/Regs/Fees:

It is assumed that we would key these off the Lafayette City Ordinance. The mark-up on the water would have to be decided, as would future tap fees. It was decided to review this in the September meeting so that it could be incorporated in the October budgeting process.

Public Records:

It was decided that the secretary (Bob Champ) would begin organizing the filing system for the District.

Insurance IGA:

Dick had an IGA between the District and Colorado Special Districts Property and Liability Pool. Dick reviewed and recommended approving the IGA. Bill Barclay made a motion that we approve the IGA with the Colorado Special Districts Property and Liability Pool. Bob Champ seconded the motion, which was approved unanimously. The document was appropriately signed and sealed and will be forwarded to the Colorado Special Districts Property and Liability Pool.

New Business:

November 2000 Election:

The Taxcut 2000 Amendment was discussed as to its meaning for governmental entities such as us. Dick addressed the legal implications of such an amendment and its ambiguities. Discussion also ensued as to when we would need to get on the ballet to de-Bruce from this amendment. This date would be the first week of September. Dick was unsure as to the effect of the amendment on us and will further review it and give us a recommendation. It would be advantageous to us to not have an election because of the cost incurred. It would also be in our best interest to pass a resolution encouraging voters to vote against this amendment.

Enterprise Issue:

Dick will draft a resolution for next meeting, which would allow us to form an Enterprise. This would ultimately protect any revenue from TABOR.

Directors Comments:

The assessor has sent a list of the properties in the water district. This list is assumed to be official.

Some discussion ensued on the dissolution of PPMWA. Bill Barclay will follow up on this issue.

Adjourn:

A motion was made to adjourn by Bob Ristinen, seconded by Bob Farmer, unanimously approved and the meeting was adjourned at 5:10 PM.

The above is submitted by the secretary…Bob Champ, July 18, 2000