Willow Creek 1&2 General Improvement District Ballot Issue 6D -

Shall Willow Creek 1 & 2 General Improvement District debt be increased $4,340,000.00, with a maximum repayment cost not to exceed $8,500,000.00; and shall Willow Creek 1 & 2 General Improvement District taxes be increased $290,000.00 annually, for the purpose of acquiring, constructing, installing and otherwise providing new fencing, including masonry walls, and related improvements, together with incidental costs relating to such purpose, by the issuance of general obligation bonds, notes, leases, contracts, or other multiple fiscal year financial obligations which shall bear interest at a net effective interest rate not in excess of 5.00% per annum, mature, be subject to redemption, with or without payment of premium of not to exceed 3%, and be issued at such time, in one series or more, at such price (at, above or below par) and in such manner and containing such terms and conditions, not inconsistent with this ballot issue, as the Board of Directors may determine; and shall ad valorem property taxes be levied on all taxable property in the district, without limitation of mill rate, and in amounts sufficient to produce the annual increase set forth above or such lesser amount as may be necessary, to be used solely for the purpose of paying the principal of, premium, if any, and interest on the District's debt or any refunding debt and to fund any reserves for the payment thereof; and shall the proceeds of any such debt and the proceeds of such taxes, any other revenue used to pay such debt, and investment income thereon, be collected and spent by the District as a voter-approved revenue change, without regard to any spending, revenue-raising or other limitation contained within Article X, Section 20 of the Colorado Constitution and without limiting in any year the amount of other revenues that may be collected and spent by the district?