MINUTES OF THE REGULAR MEETING OF THE BOARD OF DIRECTORS

OF THE

ARABIAN ACRES METROPOLITAN DISTRICT

Held: Friday, October 21, 2005 at 7:00 p.m. at 400 W.

Midland Avenue, Suite 250, Woodland Park, Colorado.

Attendance	The regular meeting of the Board of Directors of the Arabian Acres Metropolitan District meeting was called and held in accordance with the statutes of the State of Colorado. The following Directors were in attendance: Radford K. Walker Alan L. Jordan Dennis S. Yoder David J. Biondo Also present were Dave Stanford and Debbie Stanford with AquaTest, Inc., Ken Rupp and Suzanne Girdner, a past Arabian Acres resident. Director Billings was excused pursuant to 32-1-905 (1)(g), C.R.S.
Call to Order	Director Yoder noted that a quorum was present and called the regular meeting of the Board of Directors of the Arabian Acres Metropolitan District to order at 7:15 p.m. Director Biondo was appointed to act as Secretary for the meeting in Director Billings’s absence.
Disclosure Matters	Director Yoder asked the Board to confirm that no changes have occurred to any of the Directors’ interests that warrant amending the written disclosures on file with the Secretary of State’s Office with regard to any potential conflicts of interest. Pursuant to Colorado law, certain disclosures may be required prior to taking official action at the meeting. The Board reviewed the agenda for the meeting, following which each Board member disclosed their conflicts of interest, stating the fact and summary nature of any matters, as required under Colorado law, to permit official action to be taken at the meeting.
Public Comment	Suzanne Girdner brought to the attention of the board a concern regarding her water bill and a resulting plumbing bill. A motion was made, seconded and unanimously carried to forgive $812.00 of the Girdner s bill and for the District to reimburse half of their plumbing bill of $540.00.
Approval of Minutes	The minutes of the regular meeting of the Board of Directors held September 23, 2005 were read, and upon motion duly made, seconded and unanimously carried, were approved With corrections.
Financial Matters	It was reported that there have been three taps for the year to date. The financials show the District has $45,107.78 in Colorado Trust and the Park State Bank account has a balance of $26, 219.80. The monthly financial statements and expenses were reviewed. A motion was made for the Board to approve the financial statements and cash disbursements as presented. The motion was seconded and unanimously carried. The board also discussed moving funds from Colorado Trust to meet the December bond fund payment.
Executive Session	A motion was made for an Executive Session of the Board of Directors pursuant to CRS 24-6-402(4)(e). The motion was seconded and unanimously carried. The board was in Executive Session from 8:10 pm to 9:15 pm.
District Manager Report	The Districts recent inspection report resulting from an inspection by Joey Talbot of the State Health Department was discussed. The Districts water tanks need of cleaning and repair was discussed. AquaTest was instructed to send a letter to Mr. Talbot explaining that this issue will be addressed in July, 2006.Dave Stanford presented the Board with a letter of resignation from AquaTest, Incorporated. The letter contained a 120 day notice to February 18, 2006. Mr. Stanford stated that AquaTest is open to new personnel assuming the duties of AquaTest on January 1, 2006 if the District hires someone. This letter was all inclusive of the duties AquaTest performs. Mr. Stanford also presented the board with a letter regarding persons who have contacted AquaTest in regard to negative statements having been made to them regarding the competency of AquaTest and its operators.
Adjournment	There being no further business to come before the Board, and upon motion duly made, seconded and unanimously carried, the meeting was adjourned at 11:05 p.m _________________________________________ Secretary for the Meeting