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TC Res. No. 1998-50RESOLUTION NO. 5 0 SERIES OF 1998 RESOLUTION OF THE TOWN OF AVON RELATING TO THE APPROVAL OF THE SERVICE PLAN FOR TRAER CREEK METROPOLITAN DISTRICT. WHEREAS, a Service Plan for the organization of Traer Creek Metropolitan District was filed in the office of the Clerk of the Town of Avon on July 2, 1998; and WHEREAS, the organization of the District is contemplated pursuant to that certain Annexation and Development Agreement between and among the Town of Avon,, EMD Limited Liability Company, PVRT NOTT I LLC, PVRT NOTT II LLC, and PVRT NOTT III LLC, submitted to the Town on July 10, 1998 (the "Annexation Agreement"); and WHEREAS, pursuant to statute, the Town Council is the approving authority and is required to review any Service Plan with reference to need, service and economic feasibility; and WHEREAS, the Town Council has reviewed the Service Plan, the evidence and related exhibits and has determined that the same meets the conditions necessary under the statute for approval, and therefore, has determined to adopt a resolution of approval of the Service Plan for Traer Creek Metropolitan District, subject to the conditions set forth herein. BE IT RESOLVED BY THE COUNCIL OF THE TOWN OF AVON, COLORADO: Section 1. Upon consideration of the Service Plan for Traer Creek Metropolitan District and all the facts appearing at the public hearing on the Service Plan, the Town Council does find, determine and declare as follows: A. That there is sufficient existing and projected need for the organized service in the area to be served by the proposed special district; and B. That the existing service in the area to be served by the proposed special district is inadequate for present and projected needs; and C. That the proposed special district is capable of providing economical and sufficient service to the area within its proposed boundaries, or service area, or both; and D. That the area to be.included in the proposed special district has, or will have, the financial ability to discharge the proposed indebtedness on a reasonable basis; and E. That adequate service is not, and will not be, available to the area through the county, the Town or other existing municipal or quasi-municipal 2 corporations, including existing special districts, within a reasonable time and on a comparable basis; and F. That the facility and service standards of the proposed special district are compatible with the facility and service standards of the Town within which the proposed special district is to be located and each municipality which is an interested parry under Section 32-1-204(1), C.R.S.; and G. That the proposal is in substantial compliance with a master plan adopted pursuant to Section 30-28-106, CRS.; and H. That the proposal is in compliance with any duly adopted Town, county, regional, or state long-range water quality management plan for the area; and I. That the creation of the proposed special district is in the best interests of the area proposed to be served. Section 2. The Service Plan for Traer Creek Metropolitan District shall be and the same is hereby approved, subject to the following condition: 3 a. Until such time as the annexation contemplated by the Annexation Agreement has been approved by the Town Council, the proponents of the District shall not obtain an order- from the District Court establishing the District; and they shall take whatever steps are necessary or refrain from taking steps so that an order is obtained simultaneously with or subsequent to the annexation. This condition shall not be construed to prevent the proponents of the District from proceeding with the statutory process for the organization of the District, including but not limited to, an organizational election on November 3, 1998 and certification of election results. ADOPTED BY THE TOWN OF AVON ON THE 25 DAY OF AUGUST, 1998. j 0-1-a 9 - M or TTITTEST: C1 k 4