Gardens at North Carefree Metropolitan District

Announcements:

Gardens at North Carefree Metropolitan District has an existing mill levy of 40.000 mills obligated to pay off Developer Reimbursements and 10.000 mills to fund operations and maintenance within the District at this time there is no discussion on issuing any future mill levies. The Debt mill levy is set to stay in place until the obligated debt is paid off, current maturity date is set for December 1, 2046, and there are currently no anticipated increases or decreases.

At this time, the Board is discussing the benefits of issuing a Bond to pay off the Developer Advance and eliminate a higher interest rate. Here is a summary of the District’s current outstanding Long Term Financial Obligations:

Name of Debt	Initial Debt Issuance Amount	Maturity Date	Interest Rate
Reimbursement Agreement

The Gardens at North Carefree Metropolitan District’s main function is to collect tax revenue to pay off the current Long Term Debt and provide covenant enforcement along with operations and maintenance, including but not limited to, landscape maintenance throughout the District owned by the District. At this time, the District is not anticipating providing any other primary functions.

The District currently owns detention ponds and landscape tracts. *See map for a visual of property owned by the District.

NAME	POSITION	TERM	EMAIL	DEVELOPER/ RESIDENT
Elizabeth Covington	Director	May 2025	Elizabeth.C@GardensAtNorthCarefreeMD.org	Developer
Ron Covington	Director	May 2025	Ron.C@GardensAtNorthCarefreeMD.org	Developer
Laureen Deveau	Director	May 2025	Laureen.D@GardensAtNorthCarefreeMD.org	Developer
Cheryl Herber	Director	May 2023	Cheryl.H@GardensAtNorthCarefreeMD.org	Developer
Heath Herber	Director	May 2023	Heath.H@GardensAtNorthCarefreeMD.org	Developer