MINUTES OF THE CONTINUED REGULAR MEETING OF THE BOARD OF DIRECTORS

OF THE

ARABIAN ACRES METROPOLITAN DISTRICT

Held: Saturday, November 15, 2003 at 10:00 a.m., Teller County Board of County Commissioners’ Hearing Room, 112 North A Street, Cripple Creek, Colorado.

Attendance	The continued regular meeting of the Board of Directors of the Arabian Acres Metropolitan District was called and held in accordance with the statutes of the State of Colorado. The following Directors were in attendance: Kenneth R. Rupp Dennis Yoder Alan L. Jordan Gene L. Billings David J. Biondo Also present were Joan Fritsche, Seter & Vander Wall, P.C.; Dave Stanford and Beth Elzas, AquaTest, Inc.
Call to Order	Mr. Rupp noted that a quorum was present and called the continued regular meeting of the Board of Directors of the Arabian Acres Metropolitan District to order.
2004 Budget	The Board used this meeting as a work session to assist the Directors in understanding the District’s finances, develop short term and long range financial plans, and assist in drafting the District’s 2004 budget, using the most current version of the EXCEL “living spreadsheet” originally prepared by Directors Rupp and Jordan.
Continued Meeting	The Board determined to continue the meeting to Wednesday, December 3, 2003 at 7:00 p.m. at 400 W. Midland Avenue, Suite 250, Woodland Park, Colorado.

Secretary for the Meeting

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