Gym Capacity: 710. Stage. Auditeria Capacity: 390. New Bleachers

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3 New Bleachers Gym Capacity: 710 Stage Auditeria Capacity: 390 Enlarged plan of new stage configuration showing greater seating capacity of the gym vs. that of the auditeria

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9 Proposed 2018 Bond Projects and Summary of Costs Date: May 9, 2018 PROJECT / DESCRIPTION COST I. Eaton High School (EHS) $ 29,000,000 New secure entry vestibule to enhance safety and security of students and staff in a closed campus setting Create additional parking and correct critical site drainage issues Upgrade fire sprinkler, fire alarm, HVAC, plumbing and electrical systems New, 2-story addition to include new library, CTE and STEM spaces and new classrooms for science, business, art and FCS* *New classroom spaces to provide learning environments for up to 800 students New addition to and remodel of existing administration space as part of enhanced school safety and security Remodel existing library into new band room, remodel existing band room into vocal room New maintenance building (existing maintenance building to be demolished to make way for new classroom addition) Relocate existing greenhouse to make way for new classroom addition Plan with vision for the future - Ensure design will enable future expansion to accommodate up to 1,200 students II. Eaton Middle School (EMS) $ 6,000,000 New secure entry vestibule to enhance safety and security of students and staff Upgrade fire sprinkler, fire alarm, HVAC (add air-conditioning), plumbing and electrical systems New two-classroom addition and new four-classroom addition to enable this facility to operate as a 9-track school New addition to and remodel of existing administration space as part of enhanced school safety and security Remodel existing band/stage to open into existing gym, provide movable bleachers in gym to accommodate this feature Remodel to enlarge existing cafeteria and expand existing kitchen III. Eaton Elementary School (EES) $ 180,000 Decommission and demolish existing structure Existing site is too small for modern-day, 4-track elementary school Current configuration does not allow for safe student drop-off and pick-up areas for parents and buses IV. New Elementary School (NES) $ 21,000,000 New, 2-story, 4-track elementary school, approx. 65,000 square-feet at NW corner of E. Collins St. and County Road 39 New playfields and playgrounds Parent drop-off and pick-up lane Planned for separate bus drop-off and pick-up lane Site work to include Sycamore Street expansion, storm water management and County Road 39 improvements (turn lanes) Adjacent site to south currently appropriated for new Transportation Facility (bus / vehicle maintenance and storage) V. Benjamin Eaton Elementary School (BEES) $ 360,000 New secure entry vestibule to enhance safety and security of students and staff Concrete sidewalk improvements VI. Galeton Elementary School (GES) $ 365,000 New secure entry vestibule to enhance safety and security of students and staff Relocate art classroom from bus barn into main building Add operable partition between gym and music room to address safety concerns Decommission locker rooms in basement Provide new finishes (carpet, ceilings, paint) in hallways and at main entry Site work to include addressing areas prone to erosion and wash-out and adding site lighting VII. Eaton Transportation Facility (TF) $ 2,400,000 New facility to be located at NW corner of E. Collins St. and County Road 39 New location will address safety concerns related to proximity of existing facility to Eaton High School Additional space will also allow for expanded services to meet the needs of our growing school district Planned for four work bays, office space, conference room, storage area and restrooms On-site parking for maintenance staff and drivers Adjacent site to north currently appropriated for New Elementary School VIII. Soft Costs $ 15,695,000 Soft costs include: Architect / Engineer design fees, land purchase for new elementary school and transportation facility, Geotechnical services (soils reports), Project Management fees, Legal fees, Site surveys, Tap and utility fees, Furniture, fixtures and equipment (FFE), Moving expenses, Technology equipment and services (servers, computers etc.), costs for building commissioning as required by code, Owner contingency and asbestos abatement as may be required IX. Proposed 2018 Bond Cost Total $ 75,000,000

10 Prospective 2018 Election Bonds As the District is contemplating an election, we have prepared the following analysis that considers an issuance of $75 million Prospective 2018 Election General Obligation Bonds (1) $6 $5 $4 $3 $2 $1 $ Debt Service (Millions) Existing Bonds 75 Million Prospective 2018 Election Bonds (1)(2) Par Amount 75,000,000 Financing Term 25 Years Estimated Mill Levy Increase in Estimated Annual Cost per $100K of County Assessor's Residential Actual Value in 2019 $84.90 Estimated Monthly Cost per $100K of County Assessor's Residential Actual Value in 2019 $7.08 Estimated Annual Cost per $100K of County Assessor's Commercial/Agricultural Actual Value in 2019 $ Estimated Monthly Cost per $100K of County Assessor's Commercial/Agricultural Actual Value in 2019 $28.50 Total Debt Service 133,121,550 Annual Debt Service in ,508,200 Maximum Annual Debt Service 5,438,700 True Interest Cost 4.068% (1) Preliminary and subject to change. The use of the A1/AA-/-- underlying ratings and Aa2/AA/-- intercept ratings are consistent with the rating of the outstanding prior bonds. Interest rate assumptions are based on current market conditions and similar credits. Actual results may differ, and Stifel makes no commitment to underwrite at these levels. Source of Outstanding Bonds: The District s 2016 CAFR and respective official statements available on emma.msrb.org. (2) Calculated based upon the District s final 2017 assessed valuation. 1

11 Comparison of Colorado K-12 Total Mill Levies Mill Levies of Neighboring & Similarly Sized Colorado School Districts Eaton RE-2 After Prospective 2018 Election Bonds ADAMS-ARAPAHOE 28J ADAMS 12 FIVE STAR MAPLETON 1 CHEYENNE MOUNTAIN 12 POUDRE R-1 ENGLEWOOD 1 BRUSH RE-2(J) WESTMINSTER 50 WINDSOR RE-4 BRIGHTON 27J WIDEFIELD 3 GREELEY RE-6 LEWIS-PALMER 38 FALCON 49 FT. MORGAN RE-3 CANON CITY RE-1 ADAMS 14 PUEBLO COUNTY 70 VALLEY RE-1 THOMPSON R-2J SHERIDAN 2 BUENA VISTA R-31 ELIZABETH C-1 MOFFAT COUNTY RE-1 HARRISON 2 PARK (ESTES PARK) R-3 BAYFIELD 10 JT-R GUNNISON WATERSHED RE-1J SALIDA R-32(J) LAKE COUNTY R-1 DELTA COUNTY 50(J) AULT-HIGHLAND RE-9 WOODLAND PARK RE-2 MONTROSE RE-1J EATON RE-2 JOHNSTOWN-MILLIKEN RE-5J ARCHULETA COUNTY 50 JT EAST GRAND 2 GARFIELD RE-2 FT. LUPTON RE-8 MONTEZUMA-CORTEZ RE-1 STEAMBOAT SPRINGS RE-2 CLEAR CREEK RE-1 KEENESBURG RE-3(J) PARK RE-2 IGNACIO 11 JT CRIPPLE CREEK RE-1 RANGELY RE-4 GILCREST RE-1 GARFIELD 16 PAWNEE RE-12 MEEKER RE-1 DE BEQUE 49JT GILPIN COUNTY RE-1 PRAIRIE RE-11 Total Program Mills Bond Redemption Mills Mill Levy Overrides Other Mills (1) Source: Colorado s Department of Education. 2