RECORD OF PROCEEDINGS

_________________________________________________________________________

MINUTES OF THE REGULAR MEETING OF THE BOARD OF DIRECTORS

OF THE

ARABIAN ACRES METROPOLITAN DISTRICT

Held: Friday, May 18, 2007 at 7:13 p.m. at 4455 Fountain Avenue, Cascade, CO.

Attendance	The 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: Radford K. Walker Dennis Yoder David J. Biondo Sandy Zuniga Charles Hallam Also present: Mr. Terry Malcom, District Administrator.
Call to Order	Director Walker 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 7:13 pm. (Director Hallam arrived around 7:30 p.m.)
Disclosure Matters	Director Walker 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. No conflict of interest was noted.
Public Comment	None
Approval of Minutes	The minutes of the regular meeting of the Board of Directors held April 19, 2007 were read. Minor changes were made. A motion was made to approve the amended minutes. Upon motion duly made, seconded and unanimously carried, the minutes were approved. Secretary Zuniga signed a copy of the minutes for the district’s formal records.
District Administrator Issues	The District Administrator’s Report was handed out to all board members for review. Discussion ensued regarding 734 Kutsu Ridge Road. A motion was made to change the charge for one hour of Eco Resources time for inspection of the leak on this property. Upon motion duly made, seconded and unanimously carried, the minutes were approved. Discussion ensued regarding a question on the Metro District bill for 44 Silver Trail. The owner of 44 Silver Trail was questioning that the charge should have been for the 33 Tidi Road leak but the board discovered there was a different charge for that. Discussion ensued regarding the attorney fees. A motion was made to pay the attorney bill of $10,942.97 in six equal installments over the next six months and communicate to Ms. Fritsche the Board’s dissatisfaction with Ms. Fritsche’s over handling of the Bond issue. Upon motion duly made, seconded and unanimously carried, the motion was approved. A motion to approve the financials and disbursements, including a separate check for website maintenance was made. Upon motion duly made, seconded and unanimously carried, the financials and disbursements were approved.
System Operator’s Report	The District Board Members reviewed the Operators Report. There were some questions that came up for Director Biondo to ask Eco Resources about.
Legal Issues	No Attorney’s Report was given. No report on the Camp Iana/CSU Easement and the Trout Haven Resort Vacated Roadway Easement nor on the Augmentation and Exchange Water Court Decree.
Old Business	Discussion ensued regarding the website. Director Zuniga stated that Mr. Zuniga has taken possession of the AAMetro website and has added all the monthly minutes to date. Discussion ensued about the District Engineer report for the projects suggested for possible grant money. A motion was made to pay the District Engineer no more than $5,000 to prepare preliminary plans to support the grant proposal. Upon motion duly made, seconded and unanimously carried, the motion was approved. Discussion ensued regarding the status of the bond refinancing. All monies are now in appropriate accounts and the bond refinancing issue is now complete and closed. Discussion ensued regarding the need to redrill well #3. A motion to approve $500 to obtain a well permit from the state for well #3 was made. Upon motion duly made, seconded and unanimously carried, the motion was approved.
New Business	Discussion ensued regarding finding a permanent person to take meeting minutes.
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 10:13 p.m. Next Meeting: June 15, 2007 ____________________________ Secretary for the Meeting