RECORD OF PROCEEDINGS

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MINUTES OF THE REGULAR MEETING OF THE BOARD OF DIRECTORS

OF THE ARABIAN ACRES METROPOLITAN DISTRICT

Held: Friday, August 17, 2007 at 7:12 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 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 7:12 pm. Director Biondo was absent.
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 July 20, 2007 were read. Changes were made related to the Operator’s Report. A motion was made to approve the amended minutes. Upon motion duly made, seconded and unanimously carried, with Director Yoder abstaining because he was not present at the July meeting. 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. A motion to approve the financials and disbursements was made. Upon motion duly made, seconded and unanimously carried, the financials and disbursements were approved.
System Operator’s Report	There was no formal report sent by Eco Resources.
District Representative Report	President Walker read an email report from Director Biondo. Director Yoder made a motion to have all written communication with contractors be coordinated through the Board President. Seconded by Director Hallam and unanimously carried.
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	Motion by Director Yoder to authorize President Walker and Director Yoder to enter into an agreement with Eco Resources to purchase a Colorado State approved, ground water filtration system, at a price not to exceed $8000. Motion seconded and unanimously carried. Director Yoder moved to table the proposed agreement with Black Mountain Drilling for a new well. Motion seconded and unanimously carried.
New Business	No motions on any of the New Business was made.
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 9:43 p.m. Next Meeting: September 14, 2007 ____________________________ Secretary for the Meeting