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Home My WebLink About2022 Annual Report, Eagle River Station MD2545.0024:1312626 EAGLE RIVER STATION METROPOLITAN DISTRICT 2022 ANNUAL REPORT Pursuant to the approved Service Plan for Eagle River Station Metropolitan District (the “District”), the District is required to provide an annual report to the Town of Eagle (the “Governing Jurisdiction”). with regard to the following matters: For the year ending December 31, 2022, the District makes the following report: A. Boundary changes made. There were no boundary changes made as of December 31 of the report year. B. Intergovernmental Agreements entered into. The District did not enter into or terminate any Intergovernmental Agreements during the report year. C. Names of Board Members and contact information: Mervyn Lapin eagleriverstationboard@gmail.com Rodrigo Cortina eagleriverstationboard@gmail.com Spencer Blair eagleriverstationboard@gmail.com Eric Eves eagleriverstationboard@gmail.com D. Copy of the audit for the previous fiscal year together with the most recent year-end unaudited financial statements or a copy of the audit exemption. The District declared Inactive Status beginning January 1, 2019. Per § 32-1-104(5), C.R.S., Inactive Special Districts shall be exempt from the compliance of Title 29, Article 1, Part 6-Audit Law. The District remained inactive until March 20, 2023. E. A summary of any litigation involving the District. To our actual knowledge, based on review of the court records in Eagle County, Colorado and the Public Access to Court Electronic Records (PACER), there is no litigation involving the District or the District’s Public Improvements as of December 31 of the report year. F. Status of construction of the Public Improvements. There has been no construction of the District’s Public Improvements as of December 31 of the report year. 2545.0024:1312626 Pursuant to 32-1-207(3)(c) C.R.S., the District is required to file an annual report, not more than once a year, with the Governing Jurisdiction, the Division of Local Government, the Office of the State Auditor, and the County Clerk and Recorder. For the year ending December 31, 2022, the District makes the following report: (A) Boundary changes made There were no boundary changes made as of December 31 of the report year. (B) Intergovernmental agreements entered into or terminated with other governmental entities The District did not enter into or terminate any Intergovernmental Agreements during the report year. (C) Access information to obtain a copy of rules and regulations adopted by the board The District has not adopted any Rules and Regulations as of December 31 of the report year. Copies of any governing documents of the District may be found on the District's website at: https://colo-communities.org/eagle-river-station-metro. (D) A summary of litigation involving public improvements owned by the special district To our actual knowledge, based on review of the court records in Eagle County, Colorado and the Public Access to Court Electronic Records (PACER), there is no litigation involving the District or the District’s Public Improvements as of December 31 of the report year. (E) The status of the construction of public improvements by the special district There has been no construction of the District’s Public Improvements as of December 31 of the report year. (F) A list of facilities or improvements constructed by the special district that were conveyed or dedicated to the county or municipality The District has not constructed any facilities or improvements that have been conveyed to the Town of Eagle as of December 31 of the report year. (G) The final assessed valuation of the special district as of December 31 of the reporting year The District’s Final Assessed Valuation for 2022, dated November 21, 2022, is $87,220. (H) A copy of the current year’s budget A copy of the 2023 Budget is attached hereto as Exhibit A. 2545.0024:1312626 (I) A copy of the audited financial statements, if required by the “Colorado Local Government Audit Law”, part 6 of article 1 of title 29, or the application for exemption from audit, as applicable The District declared Inactive Status beginning January 1, 2019. Per § 32-1-104(5), C.R.S., Inactive Special Districts shall be exempt from the compliance of Title 29, Article 1, Part 6-Audit Law. The District remained inactive until March 20, 2023. (J) Notice of any uncured defaults existing for more than ninety days under any debt instrument of the special district There are no uncured events of default by the District, which continue beyond a ninety (90) day period, under any Debt instrument. (K) Any inability of the special district to pay its obligations as they come due under any obligation which continues beyond a ninety-day period The District has been able to pay its obligations as they come due. 2545.0024:1312626 EXHIBIT A 2023 Budget 2545.0015; 1304803 RESOLUTION ADOPTING BUDGET, APPROPRIATING FUNDS AND CERTIFYING MILL LEVIES FOR THE CALENDAR YEAR 2023 The Board of Directors of Eagle River Station Metropolitan District (the “Board”), Town of Eagle, Eagle County, Colorado (the “District”), held a special meeting, via teleconference on March 20, 2023, at the hour of 11:00 a.m. Prior to the meeting, each of the directors was notified of the date, time and place of the budget meeting and the purpose for which it was called and a notice of the meeting was posted or published in accordance with §29-1-106, C.R.S. [Remainder of Page Intentionally Left Blank] 65 2545.0015; 1304803 2 NOTICE AS TO PROPOSED 2023 BUDGET 66 8CD09Eagle River Station Notice of 2023 Budge - Page 1 of 2 Eagle Valley Enterprise and Vail Daily 200 Lindbergh Drive | Gypsum CO 81637 (970) 777-3126 I, Mark Wurzer, of lawful age, being duly sworn upon oath, deposes and says that I am the Publisher of Eagle Valley Enterprise and Vail Daily, a publication that is a "legal newspaper" as that phrase is defined for the city of Gypsum, for the County of Eagle, in the state of Colorado, that this affidavit is Page 1 of 2 with the full text of the sworn-to notice set forth on the pages that follow, and that the attachment hereto contains the correct copy of what was published in said legal newspaper in consecutive issues on the following dates: PUBLICATION DATES: 16 Mar 2023 Notice ID: pxNzicGu9MOcEZUubQaR Publisher ID: 265938 Notice Name: 8CD09Eagle River Station Notice of 2023 Budge PUBLICATION FEE: $22.77 ______________________________ Publisher VERIFICATION STATE OF COLORADO COUNTY OF EAGLE Signed or attested before me on this 17th day of March, 2023 ______________________________ Notary Public My Commission Expires: February 22. 2026 See Proof on Next Page AFFIDAVIT OF PUBLICATION 8CD09Eagle River Station Notice of 2023 Budge - Page 2 of 2 2545.0015; 1304803 3 WHEREAS, the Board has designated its accountant to prepare and submit a proposed budget to the Board in accordance with Colorado law; and WHEREAS, the proposed budget has been submitted to the Board for its review and consideration; and WHEREAS, upon due and proper notice, provided in accordance with Colorado law, said proposed budget was open for inspection by the public at a designated place, a public hearing was held and interested electors were given the opportunity to register their protest to the proposed budget prior to the adoption of the budget by the Board. NOW, THEREFORE, BE IT RESOLVED BY THE BOARD AS FOLLOWS: Section 1. Adoption of Budget. The budget attached hereto and incorporated herein is approved and adopted as the budget of the District for fiscal year 2023. In the event of recertification of values by the County Assessor’s Office after the date of adoption hereof, staff is hereby directed to modify and/or adjust the budget and certification to reflect the recertification without the need for additional Board authorization. Any such modification to the budget or certification as contemplated by this Section 1 shall be deemed ratified by the Board. Section 2. Levy for General Operating Expenses. For the purpose of meeting all general operating expenses of the District during the 2023 budget year, there is hereby levied a tax of 0.000 mills upon each dollar of the total valuation of assessment of all taxable property within the District. Section 3. Levy for Debt Service Obligations. For the purposes of meeting all debt service obligations of the District during the 2023 budget year, there is hereby levied a tax of 0.000 mills upon each dollar of the total valuation of assessment of all taxable property within the District. Section 4. Levy for Contractual Obligation Expenses. For the purposes of meeting all contractual obligations of the District during the 2023 budget year, there is hereby levied a tax of 0.000 mills upon each dollar of the total valuation of assessment of all taxable property within the District. 67 2545.0015; 1304803 4 Section 5. Levy for Capital Project Expenses. For the purposes of meeting all capital project obligations of the District during the 2023 budget year, there is hereby levied a tax of 0.000 mills upon each dollar of the total valuation of assessment of all taxable property within the District. Section 6. Mill Levy Adjustment. When developing the attached budget, consideration was given to any changes in the method of calculating assessed valuation, including any changes to the assessment ratios, or any constitutionally mandated tax credit, cut or abatement, as authorized in the District’s service plan. The Board hereby determines in good faith (such determination to be binding and final), that to the extent possible, the adjustments to the mill levies made to account for changes in Colorado law described in the prior sentence, and the actual tax revenues generated by the mill levies, are neither diminished nor enhanced as a result of those changes. Section 7. Certification to County Commissioners. The Board directs its legal counsel, manager, accountant or other designee to certify to the Board of County Commissioners of Eagle County, Colorado the mill levies for the District as set forth herein. Such certification shall be in compliance with the requirements of Colorado law. Section 8. Appropriations. The amounts set forth as expenditures in the budget attached hereto are hereby appropriated. Section 9. Filing of Budget and Budget Message. The Board hereby directs its legal counsel, manager or other designee to file a certified copy of the adopted budget resolution, the budget and budget message with the Division of Local Government by January 30 of the ensuing year. Section 10. Budget Certification. The budget shall be certified by a member of the District, or a person appointed by the District, and made a part of the public records of the District. [Remainder of Page Intentionally Left Blank] 68 2545.0015; 1304803 5 ADOPTED MARCH 20, 2023. DISTRICT: EAGLE RIVER STATION METROPOLITAN DISTRICT, a quasi-municipal corporation and political subdivision of the State of Colorado By: Officer of the District Attest: By: APPROVED AS TO FORM: WHITE BEAR ANKELE TANAKA & WALDRON Attorneys at Law General Counsel to the District STATE OF COLORADO COUNTY OF EAGLE EAGLE RIVER STATION METROPOLITAN DISTRICT I hereby certify that the foregoing resolution constitutes a true and correct copy of the record of proceedings of the Board adopted by a majority of the Board at a District meeting held via teleconference on Monday, March 20, 2023, as recorded in the official record of the proceedings of the District. IN WITNESS WHEREOF, I have hereunto subscribed my name this ___ day of March, 2023. 69 EXHIBIT A BUDGET DOCUMENT BUDGET MESSAGE 70 EAGLE RIVER STATION METROPOLITAN DISTRICT 2023 BUDGET MESSAGE Eagle River Station Metropolitan District is a quasi-municipal corporation organized and operated pursuant to provisions set forth in the Colorado Special District Act. The District has no employees and all operations and administrative functions are contracted. The following budget is prepared on the modified accrual basis of accounting, which is consistent with the basis of accounting used in presenting the District's financial statements. 2023 Budget Strategy The District was formed on March 7, 2007 to provide for the design, acquisition, construction, installation and financing of certain street and safety protection, park and recreation, water, sanitation and transportation improvements and services. Revenues For 2023 the District’s primary source of revenue is from developer advances. Expenditures The District has adopted one separate fund which is a General Fund to provide for general operating. The District has provided for an Emergency Reserve Fund in the amount of 3% of the total fiscal year expenditures in the General Fund in accordance with the TABOR Amendment. Eagle River Station Metropolitan DistrictStatement of Revenues, Expenditures, & Changes In Fund BalanceFor the Period IndicatedModified Accrual Basis 2022 2023Unaudited AdoptedActualBudgetCommentsGENERAL FUNDAssessed Valuation 87,220 Operating Mill Levy Rate 0.000 None LeviedREVENUESProperty Taxes - - AV * Mill / 1,000Specific Ownership Taxes - - 4.5% of Property TaxesMiscellaneous Income - - None AnticipatedInterest Income - - None AnticipatedTOTAL REVENUES- - EXPENDITURESGeneral GovernmentAccounting Funded directly by DeveloperElection Services - Only in even yearsInsurance/SDA Dues 995 - Ins & SDA Dues for InactiveLegal Services Funded directly by DeveloperOffice Supplies/Miscellaneous Funded directly by DeveloperTreasurer's Fees - - 3% of Property TaxesOrganizational Costs Once Development CommencesContingency 60,000 TOTAL EXPENDITURES995 60,000 OTHER SOURCES and (USES)Developer Advances - 60,000 Transfer to Capital Fund - TOTAL OTHER SOURCES and (USES)- 60,000 CHANGE IN FUND BALANCE(995) - BEGINNING FUND BALANCE8,061 7,066 ENDING FUND BALANCE7,066 7,066 =No assurance is provided on these financial statements; substantially all disclosures required by GAAP omitted.Page 2