Coalton Metropolitan District

1. In accordance with the Service Plan, the total amount of debt the District and Subdistrict collectively can incur to provide and pay for public infrastructure:

The maximum principal amount of Bonds (excluding refunding bonds) to be issued collectively by the District and Subdistrict is Five Million Dollars ($5,000,000) (“Debt Limit”). By separate agreement between the District and Subdistrict, the District is authorized to issue Debt up to the Debt Limit and the Subdistrict will not issue any Debt nor utilize any portion of the Debt Limit. The District has issued approximately $4.5 million in Bonds.

2. In accordance with the Service Plan, the following revenue may be used to pay for the District’s and Subdistrict’s debt:

The District will repay its outstanding Debt via the imposition and collection of revenue from an ad valorem property tax mill levy, fees, and other legally available revenues of the District. The Subdistrict has no outstanding Debt and by separate agreement, has agreed not to issue Debt.

3. In accordance with the Service Plan, the maximum mill levy a District and Subdistrict may collectively assess to pay for debt is as follows:

The Maximum Debt Mill Levy the District and Subdistrict may impose on taxable property for the payment of Debt (including reimbursement to credit enhancers) shall be 25 mills. The Maximum Debt Mill levy shall be subject to adjustment if the laws of the State change with respect to the assessment of property for taxation purposes, the ratio for determining assessed valuation changes, or other similar changes occur. In any of these events, the Maximum Debt Mill Levy shall be automatically adjusted so that the collective tax liability of property owners within the District and the Subdistrict neither increases nor decreases as a result of any such changes, thereby maintaining a constant level of tax receipts of the District and the Subdistrict overall tax payments from property owners.

By separate agreement between the District and Subdistrict, the District shall impose the Maximum Debt Mill Levy for the repayment of Bonds.