City of Aurora, Colorado Summary of Outstanding Obligations: Golf Enterprise Debt Water Enterprise Debt Sewer Enterprise Debt ACLC Internal Capital

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1 Summary of Outstanding Obligations: Golf Enterprise Debt Water Enterprise Debt Sewer Enterprise Debt ACLC Internal Capital Leases ACLC External Capital Leases Certificates of Participation GIDs SIDs Aurora Urban Renewal Authority As of January 1, 2016

2 Summary of Outstanding Obligations Table of Contents Item Tab Page Debt Policy & Ratings Summary 1 Summary of All Outstanding Debt 2 Summary of Outstanding Debt by Purpose 6 Outstanding Debt Service by Purpose 7 Graph: Outstanding Debt Service by Purpose.. 8 Graph: AURA Outstanding Debt Service... 9 Summary of Outstanding Debt by Fund 10 Golf Enterprise Debt 4 Summary of Outstanding Obligations.. 12 Summary of Outstanding Debt Service 13 Graph: Outstanding Debt Service by Issue 14 Series Water Enterprise Debt 5 Summary of Outstanding Obligations.. 17 Summary of Outstanding Debt Service 18 Graph: Outstanding Debt Service by Issue 19 Series 2008A 20 Series 2007A 21 Rocky Ford II Notes 22 CWCB Loan (Subordinate) 23 Sewer Enterprise Debt 6 Summary of Outstanding Obligations.. 25 Summary of Outstanding Debt Service 26 Graph: Outstanding Debt Service by Issue 27 Series ACLC Internal Capital Leases 7 Summary of Outstanding Obligations.. 30 Summary of Outstanding Debt Service 31 Graph: Outstanding Debt Service by Issue A C B 35 ACLC External Capital Leases 8 Summary of Outstanding Obligations.. 37 Summary of Outstanding Debt Service 38 Graph: Outstanding Debt Service by Issue 39 District 2 Police Station (2015C) 40 Equipment Lease (2015B) 41 Fire SCBA (2015A) 42 History Museum Expansion (2014B).. 43 Truck Financing (2014A) 44 Fire & Construction Equipment (2013A) 45 Fire Apparatus (2012B) 46 Certificates of Participation 9 Summary of Outstanding Obligations.. 48 Summary of Outstanding Debt Service 49 Graph: Outstanding Debt Service by Issue 50 Series Series Series 2009A 53 GIDs 10 Summary of Outstanding Obligations.. 55 Summary of Outstanding Debt Service 56 Graph: Outstanding Debt Service by Issue 57 Pier Point 58 Meadow Hills 59 Peoria Park 60 Series 2009 (Cherry Creek) 61 SIDs 11 Summary of Outstanding Obligations.. 63 Summary of Outstanding Debt Service 64 Graph: Outstanding Debt Service by Issue 65 Series 2007 (Ptarmigan) 66 Series 2012 (Dam East) 67 Aurora Urban Renewal Authority 12 Summary of Outstanding Obligations.. 69 Summary of Outstanding Debt Service 70 Graph: Outstanding Debt Service by Issue 71 NBH Loan Agreement 72 Fan Fare Property 73 Defeased Debt 12 Rating Reports 13 Prepared by Piper Jaffray Co.

3 Ratings Summary Prepared by Piper Jaffray Co.

4 CITY OF AURORA, COLORADO SCHEDULE OF DEBT RATINGS (unaudited) JANUARY 1, 2015 Most Recent Unenhanced Published Debt Issue Rating Agency Rating Rating Aurora Capital Leasing Corporation Moody s Investors Service Aa2 4/30/2015 Certificates of Participation, Series 2015 Fitch AA- 5/1/2015 Aurora Capital Leasing Corporation Moody s Investors Service Aa2 12/17/2014 Certificates of Participation, Series 2014 Standard and Poor's AA- 12/17/2014 Moody s Investors Service Aa2 4/30/2010 First Lien Sewer Improvement Revenue Bonds, Series 2006 Fitch Ratings AA+ 7/18/2012 Moody s Investors Service Aa2 4/30/2010 First Lien Water Improvement Revenue Bonds, Series 2007A Fitch Ratings AA+ 7/18/2012 Moody s Investors Service Aa2 4/30/2010 First Lien Water Improvement Revenue Bonds, Series 2008A Fitch Ratings AA+ 7/18/2012 Aurora Capital Leasing Corporation Moody s Investors Service Aa2 11/21/2014 Refunding Certificates of Participation, Series 2009A Standard and Poor s AA- 9/30/ Prepared by Piper Jaffray Co.

5 Summary of All Outstanding Debt Prepared by Piper Jaffray Co.

6 Outstanding Debt by Purpose Summary of Outstanding Bond Issues as of January 1, 2016 Purpose Issue Original Principal Outstanding Principal Coupon Range Next Call Refunding Eligibility Golf Enterprise Debt Murphy Creek Golf Course Series 2011 $ 4,384,000 $ 4,184, % % Callable at Any Time Callable at Any Time Subtotal $ 4,384,000 $ 4,184,000 Water Enterprise Debt 1st Lien Water Imp. Revenue Series 2008A 39,995,000 39,995, % % August 1, 100% Current Only 1st Lien Water Imp. Revenue Series 2007A 421,495, ,495, % % August 1, 100% Advance Rocky Ford II Notes Notes 8,280, , % % None CWCB Loan (Subordinate) CWCB Loan 75,750,000 70,844, % % None Subtotal $ 545,520,091 $ 533,042,345 Sewer Enterprise Debt 1st Lien Sewer Imp. Revenue Series 2006 $ 57,790,000 $ 32,295, % % August 1, 100% Advance Subtotal $ 57,790,000 $ 32,295,000 ACLC Internal Capital Leases Various Equipment 2012-A 998, , Police Equipment Lease 2012-C 239,315 55,010 0 Dump Truck Lease 2011-B 515, , Subtotal $ 1,753,702 $ 374,680 ACLC External Capital Leases District 2 Police Station (2015C) 2015-C 3,785,000 3,785, % Equipment Lease (2015B) 2015-B 3,182,736 3,182, % Fire SCBA (2015A) 2015-A 1,644,700 1,309, % History Museum Expansion (2014B) 2014-B 1,383,800 1,261, % Truck Financing (2014A) 2014-A 1,674,787 1,339, % Fire & Construction Equipment (2013A) 2013-A 1,336, , % Fire Apparatus (2012B) 2012-B 1,773,430 1,023, % Subtotal $ 6,169,010 $ 4,328,472 Certificates of Participation Public Safety Training Facility Series ,340,000 24,340, % % December 1, 100% Current or Advance E911 & Sports Park Projets Series 2014 $ 21,775,000 $ 21,015, % % Non-Callable Refunding COPs Series 2009A 84,160,000 84,160, % % December 1, 100% Current Only Subtotal $ 105,935,000 $ 105,175,000 GIDs Pier Point Series 2011 $ 2,600,000 $ 2,250, % % Non-Callable Meadow Hills Series , , % % Non-Callable Peoria Park Series , , % % Non-Callable Cherry Creek Racquet Club Project Series , , % % Non-Callable Subtotal $ 4,170,000 $ 3,549,000 SIDs Ptarmigan Fence Project Series 2007 $ 1,095,000 $ 215,000 0 Callable at Any Time Current or Advance Dam East Fence Project Series ,230, , % Callable at Any Time Current or Advance Subtotal $ 2,325,000 $ 910,000 TOTAL $ 728,046,803 $ 683,858,497 Aurora Urban Renewal Authority NBH Loan Agreement 2015 $ 27,750,000 $ 27,750, % Any Date Current or Advance Fan Fare Property 4,000,000 4,000, % Any Date Current or Advance TOTAL $ 31,750,000 $ 31,750,000 6 Prepared by Piper Jaffray Co.

7 Debt Service by Purpose Summary of Outstanding Bond Issues as of January 1, 2016 Golf Enterprise Debt Water Enterprise Debt Sewer Enterprise Debt ACLC Internal Capital Leases ACLC External Capital Leases Certificates of Participation GIDs SIDs Total AURA , ,559, ,559, , ,246, ,157, , , ,721, , , ,550, ,009, ,247, ,157, , , ,932, , , ,541, ,010, ,250, ,155, , , ,736, , , ,532, ,009, ,006, ,155, , , ,498, ,396, , ,132, ,010, ,060, ,157, , , ,162, ,590, , ,127, ,007, ,057, ,162, , , ,165, ,640, , ,666, ,009, ,059, ,160, , , ,342, ,672, , ,660, ,007, , ,160, , ,206, ,714, , ,662, ,006, , ,161, , ,208, ,204, , ,666, ,005, , ,221, , ,123, , , ,666, ,005, ,223, , ,746, , ,664, ,006, ,219, , ,185, , ,662, ,005, ,221, , ,179, , ,664, ,009, ,221, , ,187, , ,666, , ,944, , ,172, , ,664, , ,498, , ,725, , ,667, , ,497, ,496, , ,666, , ,499, ,497, , ,172, , ,498, ,003, , ,173, ,747, ,496, ,417, , ,170, ,744, ,496, ,412, , ,172, ,494, ,667, , ,174, ,496, ,670, ,173, ,496, ,669, ,415, ,499, ,915, Total 5,299, ,876, ,814, , ,500, ,454, ,661, ,057, ,198,045, ,771, Prepared by Piper Jaffray Co.

8 $70,000,000 Outstanding Debt Service by Purpose $60,000,000 $50,000,000 $40,000,000 $30,000,000 $20,000,000 SIDs GIDs Certificates of Participation ACLC External Capital Leases ACLC Internal Capital Leases Sewer Enterprise Debt Water Enterprise Debt Golf Enterprise Debt $10,000,000 $

9 $30,000,000 Aurora Urban Renewal Authority Outstanding Debt Service $25,000,000 $20,000,000 $15,000,000 $10,000,000 $5,000,000 $

10 Debt Service by Fund Summary of Outstanding Bond Issues as of January 1, 2016 Other Golf Fund Water Fund Sewer Fund Certificates of Participation ACLC Leases Obligations (GID/SID) AURA Total , ,559, ,559, ,157, ,628, , , ,487, , ,550, ,009, ,157, ,247, , , ,698, , ,541, ,010, ,155, ,250, , , ,702, , ,532, ,009, ,155, ,006, , ,396, ,894, , ,132, ,010, ,157, ,060, , ,590, ,753, , ,127, ,007, ,162, ,057, , ,640, ,805, , ,666, ,009, ,160, ,059, , ,672, ,015, , ,660, ,007, ,160, , , ,714, ,920, , ,662, ,006, ,161, , , ,204, ,412, , ,666, ,005, ,221, , , , ,388, , ,666, ,005, ,223, , , ,006, ,664, ,006, ,219, , , ,440, ,662, ,005, ,221, , , ,429, ,664, ,009, ,221, , , ,432, ,666, , ,944, , , ,412, ,664, , ,498, , , ,960, ,667, , ,497, , ,726, ,666, , ,499, , ,722, ,172, , ,498, , ,223, ,173, ,747, ,496, , ,632, ,170, ,744, ,496, , ,622, ,172, ,494, , ,872, ,174, ,496, ,670, ,173, ,496, ,669, ,415, ,499, ,915, Total 5,299, ,876, ,814, ,454, ,882, ,718, ,771, ,236,816, Prepared by Piper Jaffray Co.

11 Golf Enterprise Debt Prepared by Piper Jaffray Co.

12 Golf Enterprise Debt Summary of Outstanding Bond Issues as of January 1, 2016 Issue Original Principal Outstanding Principal Outstanding Coupon Range Optional Redemption Refunding Status Series 2011 Golf Revenue Note $ 4,384,000 $ 4,184, % % Callable at Any Time Callable at Any Time Total $ 4,384,000 $ 4,184, Prepared by Piper Jaffray Co.

13 Golf Enterprise Debt Summary of Outstanding Bond Issues as of January Series 2011 Golf Revenue Note Total , , , , , , , , , , , , , , , , , , , , , , Total 5,299, ,299, Prepared by Piper Jaffray Co.

14 Outstanding Golf Enterprise Debt $600,000 $500,000 Total Principal plus Interest $400,000 $300,000 $200,000 $100,000 $ Series 2011 Golf Revenue Note 14

15 Original Par Amount: $4,384,000 Issuer: Murphy Creek Golf Course Note Issue Description: Series 2011 Current Bond Rating: Registrar/Paying Agent: Director of Finance of the City Bond Insurer: Bond Counsel: Lender: Method of Sale: Interfund Loan Arbitrage Yield: DSRF Status Rebateable Funds: Yield Restricted Funds: Last Rebate Calc. Date: Next Rebate Calc. Date: Source of Repayment: Golf Course Revenues Bond Covenant: Covenant Violations Requires Rate Study Notes: In December of 1995, City Council authorized the Utility Enterprise Wastewater Fund to provide a loan to the Golf Enterprise Fund for the construction of the Murphy Creek Golf Course. The loan between the Utility and Golf is a floating rate note that required annual principal payments of $256,000 through The loan was scheduled to mature in 2013 with a balloon payment of $3,328,000. Due to uncertainty in performance, the amortization schedule was revised in 2009 to provide immediate relief to the golf course. In November 2011 the loan was renegotiated providing a market interest rate and a final maturity in Amortization: Principal Coupon Interest Total P&I , % 167, , , % 156, , , % 145, , , % 133, , , % 120, , , % 106, , , % 91, , , % 75, , , % 58, , , % 40, , , % 21, , TOTAL 4,184, ,115, ,299, Redemption Provision: Callable at Any Time Refunding Status: Maturity Dates: June 1 & December 1 Interest Payment Dates: June 1 & December 1 15 Prepared by Piper Jaffray Co.

16 Water Debt Prepared by Piper Jaffray Co.

17 Water Debt Summary of Outstanding Bond Issues as of January 1, 2016 Issue Original Principal Outstanding Principal Outstanding Coupon Range Optional Redemption Refunding Status Series 2008A 39,995,000 39,995, % % August 1, 100% Current Only Series 2007A 421,495, ,495, % % August 1, 100% Advance Rocky Ford II Notes 8,280, , % % None CWCB Line of Credit 75,750,000 70,844, % % None Total $ 545,520,091 $ 533,042, Prepared by Piper Jaffray Co.

18 Water Debt Summary of Outstanding Bond Issues as of January 1, 2016 CWCB Line of Credit Rocky Ford II Notes Series 2007A Series 2008A Total ,415, , ,973, ,957, ,559, ,415, , ,973, ,957, ,550, ,415, , ,973, ,957, ,541, ,415, , ,973, ,957, ,532, ,415, ,758, ,957, ,132, ,415, ,753, ,957, ,127, ,415, ,757, ,492, ,666, ,415, ,758, ,486, ,660, ,415, ,758, ,488, ,662, ,415, ,756, ,494, ,666, ,415, ,755, ,495, ,666, ,415, ,753, ,494, ,664, ,415, ,754, ,492, ,662, ,415, ,755, ,492, ,664, ,415, ,758, ,491, ,666, ,415, ,756, ,492, ,664, ,415, ,753, ,498, ,667, ,415, ,756, ,494, ,666, ,415, ,757, ,172, ,415, ,757, ,173, ,415, ,755, ,170, ,415, ,756, ,172, ,415, ,758, ,174, ,415, ,757, ,173, ,415, ,415, Total 110,396, , ,023, ,660, ,876, Prepared by Piper Jaffray Co.

19 $45,000,000 Water Debt $40,000,000 $35,000,000 Total Principal plus Interest $30,000,000 $25,000,000 $20,000,000 $15,000,000 $10,000,000 $5,000,000 $ CWCB Line of Credit Rocky Ford II Notes Series 2007A Series 2008A 19

20 Original Par Amount: $39,995,000 Issuer: Acting by and Through its Utility Enterprise Issue Description: First-Lien Water Improvement Revenue Bonds, Series 2008A Registrar/Paying Agent: The Bank of New York Bond Insurer: None Bond Counsel: Kutak Rock Underwriter: Morgan Stanley Method of Sale: Negotiated Arbitrage Yield: DSRF Status Rebateable Funds: Yield Restricted Funds: Last Rebate Calc. Date: % Cash Funded - $4,000,000 City held FHLB, Funded: 2/7/11, Maturity: 6/8/18 Reserve Fund 3/4/2012 Next Rebate Calc. Date: 2/29/14 Arbitrage Liability Calc: Source of Repayment: ($750,692.36) Water Revenue Bond Covenant: 1) 1.20x Debt Service Coverage for Senior Debt 2) 1.05x Debt Service Coverage for Total Debt Purpose: Amortization: The Bonds were issued for the purpose of refunding, paying and discharging all of the outstanding Second-Lien Water Improvement Revenue Bonds, Series 2004A. Principal Coupon Interest Total P&I ,957, ,957, ,957, ,957, ,957, ,957, ,957, ,957, ,957, ,957, ,957, ,957, ,535, % 1,957, ,492, ,655, % 1,831, ,486, ,790, % 1,698, ,488, ,925, % 1,569, ,494, ,065, % 1,430, ,495, ,210, % 1,284, ,494, ,360, % 1,132, ,492, ,520, % 972, ,492, ,695, % 796, ,491, ,880, % 612, ,492, ,080, % 418, ,498, ,280, % 214, ,494, TOTAL 39,995, ,665, ,660, Redemption Provision: August 1, 100% Callable Bonds Refunding Status: Current Only Maturity Dates: August 1 Interest Payment Dates: February 1 & August 1 20 Prepared by Piper Jaffray Co.

21 Original Par Amount: $421,495,000 Issuer: Acting by and Through its Utility Enterprise Issue Description: First-Lien Water Improvement Revenue Bonds, Series 2007A Registrar/Paying Agent: Wells Fargo Bank Bond Insurer: Ambac Bond Counsel: Kutak Rock Underwriter: JP Morgan & Morgan Stanley Method of Sale: Negotiated Arbitrage Yield: DSRF Status % Cash Funded - $33,758,562 SOCGEN held Flex Repo, Purchase Date: 7/11/07, Maturity: 7/30/37 Rebateable Funds: Yield Restricted Funds: Last Rebate Calc. Date: Reserve Fund 3/5/2012 (5 Year) Next Rebate Calc. Date: 3/5/2013 Arbitrage Liability Calc: Source of Repayment: (1,484,984.59) Water Revenue Bond Covenant: 1) 1.20x Debt Service Coverage for Senior Debt 2) 1.05x Debt Service Coverage for Total Debt Purpose: Amortization: The Bonds were issued for the purpose of financing the acquisition and construction of additions and improvements to the Water System operated by the Utility Enterprise of the City. Most of these funds were used for the Prairie Waters Project. Principal Coupon Interest Total P&I ,973, ,973, ,973, ,973, ,973, ,973, ,973, ,973, ,785, % 20,973, ,758, ,420, % 20,333, ,753, ,095, % 19,662, ,757, ,800, % 18,958, ,758, ,540, % 18,218, ,758, ,315, % 17,441, ,756, ,130, % 16,625, ,755, ,985, % 15,768, ,753, ,885, % 14,869, ,754, ,830, % 13,925, ,755, ,775, % 12,983, ,758, ,760, % 11,996, ,756, ,845, % 10,908, ,753, ,990, % 9,766, ,756, ,190, % 8,567, ,757, ,450, % 7,307, ,757, ,770, % 5,985, ,755, ,160, % 4,596, ,756, ,620, % 3,138, ,758, ,150, % 1,607, ,757, TOTAL 421,495, ,528, ,023, Redemption Provision: August 1, 100% Callable Bonds Refunding Status: Advance Maturity Dates: August 1 Interest Payment Dates: February 1 & August 1 21 Prepared by Piper Jaffray Co.

22 Original Par Amount: $8,280,091 Issuer: Issue Description: Registrar/Paying Agent: Bond Insurer: Bond Counsel: Underwriter: Method of Sale: Arbitrage Yield: DSRF Status Rebateable Funds: Yield Restricted Funds: Last Rebate Calc. Date: Next Rebate Calc. Date: Arbitrage Liability Calc: Source of Repayment: Bond Covenant: Purpose: Amortization: Rocky Ford II Notes Water Revenues The Notes were issued for the purpose of purchasing water rights. Principal Coupon Interest Total P&I , % 35, , , % 26, , , % 17, , , % 8, , TOTAL 707, , , Redemption Provision: None Callable Bonds Refunding Status: Maturity Dates: Interest Payment Dates: 22 Prepared by Piper Jaffray Co.

23 Original Par Amount: $75,750,000 Issuer: Colorado Water Conservation Board Issue Description: Loan Contract #C Registrar/Paying Agent: Director of Finance for the City of Aurora Bond Insurer: Bond Counsel: Underwriter: Method of Sale: Private Placement Loan with CWCB Arbitrage Yield: DSRF Status None Rebateable Funds: Yield Restricted Funds: Last Rebate Calc. Date: Next Rebate Calc. Date: Source of Repayment: Water Revenue Bond Covenant: 1.05 x debt service coverage for total debt Purpose: Amortization: Proceeds from the Loan were used to finance a transmission line for Prairie Waters Project and the line of credit was converted to a term loan in 2010 with a final maturity in Principal Coupon Interest Total P&I ,759, % 2,656, ,415, ,825, % 2,590, ,415, ,893, % 2,522, ,415, ,964, % 2,451, ,415, ,038, % 2,377, ,415, ,114, % 2,301, ,415, ,194, % 2,221, ,415, ,276, % 2,139, ,415, ,361, % 2,054, ,415, ,450, % 1,965, ,415, ,542, % 1,873, ,415, ,637, % 1,778, ,415, ,736, % 1,679, ,415, ,838, % 1,576, ,415, ,945, % 1,470, ,415, ,055, % 1,359, ,415, ,170, % 1,245, ,415, ,289, % 1,126, ,415, ,412, % 1,003, ,415, ,540, % 875, ,415, ,673, % 742, ,415, ,811, % 604, ,415, ,954, % 461, ,415, ,102, % 313, ,415, ,256, % 159, ,415, TOTAL 70,844, ,552, ,396, Redemption Provision: Refunding Status: Maturity Dates: May 1 Interest Payment Dates: May 1 23 Prepared by Piper Jaffray Co.

24 Sewer Enterprise Debt Prepared by Piper Jaffray Co.

25 Sewer Enterprise Debt Summary of Outstanding Bond Issues as of January 1, 2016 Issue Original Principal Outstanding Principal Outstanding Coupon Range Optional Redemption Refunding Status Series 2006 $ 57,790,000 $ 32,295, % % August 1, 100% Advance Total $ 57,790,000 $ 32,295, Prepared by Piper Jaffray Co.

26 Sewer Enterprise Debt Summary of Outstanding Bond Issues as of January 1, 2016 Series 2006 Total ,559, ,559, ,009, ,009, ,010, ,010, ,009, ,009, ,010, ,010, ,007, ,007, ,009, ,009, ,007, ,007, ,006, ,006, ,005, ,005, ,005, ,005, ,006, ,006, ,005, ,005, ,009, ,009, , , , , , , , , , , ,747, ,747, ,744, ,744, Total 49,814, ,814, Prepared by Piper Jaffray Co.

27 Sewer Revenue Bonds $4,000,000 $3,500,000 $3,000,000 Total Principal plus Interest $2,500,000 $2,000,000 $1,500,000 $1,000,000 $500,000 $- Series

28 Original Par Amount: $57,790,000 Issuer: Acting by and Through its Utility Enterprise Issue Description: First-Lien Sewer Improvement Revenue Bonds, Series 2006 Registrar/Paying Agent: Director of Finance of the City Bond Insurer: MBIA Bond Counsel: Kutak Rock Underwriter: Morgan Stanley Method of Sale: Competitive Arbitrage Yield: DSRF Status Rebateable Funds: Yield Restricted Funds: Last Rebate Calc. Date: % Cash Funded - $3,749,250 AIG held Flex Repo, Purchase Date: 6/27/06, Maturity: 7/31/36 Reserve Fund 12/31/2012 Next Rebate Calc. Date: 2/29/14 Arbitrage Liability Calc: Source of Repayment: ($597,395.99) Sewer Revenue & Storm Drain Revenue Bond Covenant: 1.2x Debt Service Coverage for Senior Lien Debt Purpose: Amortization: The Bonds were issued for the purpose of financing the acquisition and construction of additions and improvements to the Wastewater Utility System operated by the Utility Enterprise of the City. In 2013, the City partially prepayed the Series 2006 Bonds. Principal Coupon Interest Total P&I % 1,559, ,559, ,450, % 1,559, ,009, ,510, % 1,500, ,010, ,585, % 1,424, ,009, ,665, % 1,345, ,010, ,745, % 1,262, ,007, ,830, % 1,179, ,009, ,915, % 1,092, ,007, ,005, % 1,001, ,006, ,105, % 900, ,005, ,210, % 795, ,005, ,310, % 696, ,006, ,425, % 580, ,005, ,550, % 459, ,009, , , , , , , , , , , ,415, % 332, ,747, ,575, % 169, ,744, TOTAL 32,295, ,519, ,814, Redemption Provision: August 1, 100% Callable Bonds Refunding Status: Advance Maturity Dates: August 1 Interest Payment Dates: February 1 & August 1 28 Prepared by Piper Jaffray Co.

29 ACLC Internal Capital Leases Prepared by Piper Jaffray Co.

30 ACLC Internal Capital Leases Summary of Outstanding Obligations as of January 1, 2016 Issues Original Principal Outstanding Principal Outstanding Coupon Range Optional Redemption Refunding Status 2012-A 998, , % 2012-C 239,315 55, B 515, , % Total $ 1,753,702 $ 374, Prepared by Piper Jaffray Co.

31 ACLC Internal Capital Leases Summary of Outstanding Obligations as of January 1, A 2012-C 2011-B Total ,693 56, , ,666 Total 206,693 56, , , Prepared by Piper Jaffray Co.

32 Internal ACLC Leases $450,000 $400,000 $350,000 $300,000 $250,000 $200, A 2012-C 2011-B $150,000 $100,000 $50,000 $

33 Original Lease Amount: $998,474 Issuer: Issue Description: Dump Trucks and Backhoe Leases Lessor: Aurora Capital Leasing Corp. Lease No A Dated: 12/1/2012 Amortization: Principal Coupon Interest Fiscal Lease Payments , % 3, ,693 TOTAL 203,138 3, ,693 Maturity Dates: December 1 Interest Payment Dates: December 1 Items: 4 Dump Trucks, 1 Loader, and 1 Backhoe 33 Prepared by Piper Jaffray Co.

34 Original Lease Amount: $239,315 Issuer: Issue Description: Police Lab Equipment Lease Lessor: Aurora Capital Leasing Corp. Lease No C Dated: 6/1/2012 Amortization: Principal Coupon Interest Fiscal Lease Payments , % 1,100 56,110 TOTAL 55,010 1,100 56,110 Maturity Dates: December 1 Interest Payment Dates: December 1 Items: 1 Thermo Fischer, 1 Agilent 34 Prepared by Piper Jaffray Co.

35 Original Lease Amount: $515,913 Issuer: Issue Description: Truck Lease Lessor: Aurora Capital Leasing Corp. Lease No B Dated: 5/1/2011 Amortization: Principal Rate Interest Fiscal Lease Payment , % 2, ,862 TOTAL 116,532 2, ,862 Maturity Dates: December 1 Interest Payment Dates: December 1 Items: 2 Dump Trucks, 1 Bucket Truck 35 Prepared by Piper Jaffray Co.

36 ACLC External Capital Leases Prepared by Piper Jaffray Co.

37 ACLC External Capital Leases Summary of Outstanding Obligations as of January 1, 2016 Issues Original Principal Outstanding Principal Outstanding Coupon Range Optional Redemption Refunding Status 2015-C 3,785,000 3,785, % 2015-B 3,182,736 3,182, % 2015-A 1,644,700 1,309, % 2014-B 1,383,800 1,261, % 2014-A 1,674,787 1,339, % 2013-A 1,336, , % 2012-B 1,773,430 1,023, % Total $ 6,169,010 $ 4,328, Prepared by Piper Jaffray Co.

38 ACLC External Capital Leases Summary of Outstanding Obligations as of January 1, B 2013-A 2014-A 2014-B 2015-A 2015-B 2015-C Total , , , , , , ,202 2,246, , , , , , , ,314 2,247, , , , , , , ,965 2,250, , , , , , ,404 2,006, , , ,736 1,060, , , ,855 1,057, , , ,867 1,059, , , , , , , , ,733 Total 1,057, ,087 1,389,522 1,420,515 1,348,903 3,377,548 4,182,993 13,500, Prepared by Piper Jaffray Co.

39 External ACLC Leases $2,500,000 $2,000,000 $1,500,000 $1,000, C 2015-B 2015-A 2014-B 2014-A 2013-A 2012-B $500,000 $ Prepared by Piper Jaffray Co.

40 Original Lease Amount: $3,785,000 Issuer: Issue Description: District 2 Police Station Lessor: Aurora Capital Leasing Corp. Lease Purchase No C Dated: 12/4/2015 Amortization: Principal Coupon Interest Fiscal Lease Payment , % 26, , , % 72, , , % 64, , , % 57, , , % 49, , , % 41, , , % 33, , , % 25, , , % 17, , , % 8, ,733 TOTAL 3,785, ,993 4,182,993 Maturity Dates: April 1 Interest Payment Dates: April 1 and October 1 Lender: JPMorgan Chase Equipment/Purpose: District 2 Police Station 40 Prepared by Piper Jaffray Co.

41 Original Lease Amount: $3,182,736 Issuer: Issue Description: Equipment Lease Purchase Agreement (Rolling Stock) Lessor: Aurora Capital Leasing Corp. Lease Purchase No B Dated: 8/19/2015 Amortization: Principal Coupon Interest Fiscal Lease Payment , % 32, , , % 45, , , % 38, , , % 31, , , % 23, , , % 15, , , % 7, ,507 TOTAL 3,182, ,812 3,377,548 Maturity Dates: March 27 Interest Payment Dates: March 27 Lender: JPMorgan Chase Equipment/Purpose: Rolling Stock 41 Prepared by Piper Jaffray Co.

42 Original Lease Amount: $1,644,700 Issuer: Issue Description: Equipment Lease Purchase Agreement (SCBA) Lessor: Aurora Capital Leasing Corp. Lease Purchase No A Dated: 2/27/2015 Amortization: Principal Coupon Interest Fiscal Lease Payment , % 15, , , % 11, , , % 8, , , % 4, ,226 TOTAL 1,309,130 39,773 1,348,903 Maturity Dates: March 27 Interest Payment Dates: March 27 Lender: JPMorgan Chase Equipment/Purpose: Fire Department Breathing Apparatus 42 Prepared by Piper Jaffray Co.

43 Original Lease Amount: $1,383,800 Issuer: Issue Description: History Museum Expanison Lessor: Aurora Capital Leasing Corp. Lease Purchase No B Dated: 12/4/2014 Amortization: Principal Coupon Interest Fiscal Lease Payment , % 31, , , % 28, , , % 24, , , % 21, , , % 17, , , % 14, , , % 10, , , % 6, , , % 2, ,835 TOTAL 1,261, ,887 1,420,515 Maturity Dates: June 1 and December 1 Interest Payment Dates: June 1 and December 1 Lender: Colorado State Bank & Trust Equipment: History Museum Expansion 43 Prepared by Piper Jaffray Co.

44 Original Lease Amount: $1,674,787 Issuer: Issue Description: Truck Financing Lessor: Aurora Capital Leasing Corp. Lease Purchase No A Dated: 9/30/2014 Amortization: Principal Coupon Interest Fiscal Lease Payment , % 19, , , % 14, , , % 10, , , % 5, ,381 TOTAL 1,339,593 49,929 1,042,142 Maturity Dates: March 27 Interest Payment Dates: March 27 Lender: UMB Bank Equipment: Dump trucks, asphalt trucks, snow trucks 44 Prepared by Piper Jaffray Co.

45 Original Lease Amount: $1,336,993 Issuer: Issue Description: Fire Apparatus & Construction Equipment Lessor: Aurora Capital Leasing Corp. Lease Purchase No A Dated: 7/31/2013 Amortization: Principal Coupon Interest Fiscal Lease Payment , % 9, , , % 6, , , % 3, ,029 TOTAL 703,926 19, ,087 Maturity Dates: March 27 Interest Payment Dates: March 27 Lender: Chase Equipment Finance Equipment: 2 CAT Loaders, 2 Trucks, and 1 E-One Pumper 45 Prepared by Piper Jaffray Co.

46 Original Lease Amount: $1,773,430 Issuer: Issue Description: Fire Apparatus Equipment Lessor: Aurora Capital Leasing Corp. Lease Purchase No B Dated: 12/27/2012 Amortization: Principal Coupon Interest Fiscal Lease Payment , % 13, , , % 10, , , % 6, , , % 3, ,458 TOTAL 1,023,324 34,510 1,057,833 Maturity Dates: March 27 Interest Payment Dates: March 27 Lender: Chase Equipment Finance Equipment: 2 E-One Pumpers, and 1 E-One Arial Ladder 46 Prepared by Piper Jaffray Co.

47 Certificates of Participation Prepared by Piper Jaffray Co.

48 Certificates of Participation Summary of Outstanding Obligations as of January 1, 2016 Issue Original Principal Outstanding Principal Outstanding Coupon Range Optional Redemption Refunding Status Series 2015 $ 24,340,000 $ 24,340, % % December 1, 100% Current or Advance Series ,775,000 21,015, % % Non-Callable Series 2009A 84,160,000 84,160, % % December 1, 100% Current Only Total $ 105,935,000 $ 105,175, Prepared by Piper Jaffray Co.

49 Certificates of Participation Summary of Outstanding Obligations as of January 1, 2016 Series 2009A Series 2014 Series 2015 Total ,722,975 2,935,100 1,499,525 12,157, ,723,775 2,936,150 1,497,650 12,157, ,720,600 2,940,150 1,495,075 12,155, ,722,525 2,935,750 1,496,800 12,155, ,723,500 2,936,250 1,497,650 12,157, ,724,000 2,941,250 1,497,625 12,162, ,723,750 2,940,250 1,496,725 12,160, ,722,250 2,938,250 1,499,950 12,160, ,724,000 2,940,000 1,497,125 12,161, ,723,250-1,498,425 9,221, ,724,500-1,498,675 9,223, ,722,000-1,497,875 9,219, ,725,250-1,496,025 9,221, ,723,250-1,498,125 9,221, ,445,500-1,499,000 16,944, ,498,650 1,498, ,497,075 1,497, ,499,275 1,499, ,498,675 1,498, ,496,625 1,496, ,496,625 1,496, ,494,938 1,494, ,496,563 1,496, ,496,313 1,496, ,499,188 1,499,188 Total 123,571,125 26,443,150 37,440, ,454, Prepared by Piper Jaffray Co.

50 Outstanding Certificates of Participation $18,000,000 $16,000,000 $14,000,000 Total Principal plus Interest $12,000,000 $10,000,000 $8,000,000 $6,000,000 $4,000,000 $2,000,000 $ Series 2009A Series 2014 Series 2015 Note: 2009A COPs include $7,725,250 debt service reserve fund to be applied in full to 2030 debt service. 50

51 Original Par Amount: $24,340,000 Issuer: Issue Description: Registrar/Paying Agent: Bond Insurer: Bond Counsel: Underwriter: Method of Sale: Arbitrage Yield: DSRF Status Rebateable Funds: Yield Restricted Funds: Last Rebate Calc. Date: Next Rebate Calc. Date: Arbitrage Liability Calcs: Source of Repayment: Bond Covenant: Purpose: Amortization: Certificates of Participation, Series 2015 US Bank None Kutak Rock RBC Capital Markets Competitive % General Fund Lease Payments Annual Appropriation The Certificates were issued for the purpose of funding the design and construction of the public safety training facility for police and fire. Principal Coupon Interest Total P&I , % 874, ,499, , % 852, ,497, , % 830, ,495, , % 806, ,496, , % 782, ,497, , % 757, ,497, , % 731, ,496, , % 704, ,499, , % 677, ,497, , % 648, ,498, , % 618, ,498, , % 587, ,497, , % 556, ,496, , % 523, ,498, ,010, % 489, ,499, ,045, % 453, ,498, ,080, % 417, ,497, ,120, % 379, ,499, ,160, % 338, ,498, ,200, % 296, ,496, ,245, % 251, ,496, ,290, % 204, ,494, ,340, % 156, ,496, ,390, % 106, ,496, ,445, % 54, ,499, TOTAL 24,340, ,100, ,440, Redemption Provision: December 1, 100% Callable Bonds Refunding Status: Current or Advance Maturity Dates: December 1 Interest Payment Dates: June 1 & December 1 51 Prepared by Piper Jaffray Co.

52 Original Par Amount: $21,775,000 Issuer: Issue Description: Registrar/Paying Agent: Bond Insurer: Bond Counsel: Underwriter: Method of Sale: Arbitrage Yield: DSRF Status Rebateable Funds: Yield Restricted Funds: Last Rebate Calc. Date: Next Rebate Calc. Date: Arbitrage Liability Calcs: Source of Repayment: Bond Covenant: Purpose: Amortization: Certificates of Participation, Series 2014 US Bank None Kutak Rock Stifel Negotiated % General Fund Lease Payments Annual Appropriation The Certificates were issued for the purpose of funding the City's E911 upgrade from analog to digital and the Sports Park expansion projects. Principal Coupon Interest Total P&I ,965, % 970, ,935, ,025, % 911, ,936, ,110, % 830, ,940, ,190, % 745, ,935, ,300, % 636, ,936, ,420, % 521, ,941, ,540, % 400, ,940, ,665, % 273, ,938, ,800, % 140, ,940, TOTAL 21,015, ,428, ,443, Redemption Provision: Non-Callable Callable Bonds Refunding Status: Maturity Dates: December 1 Interest Payment Dates: June 1 & December 1 52 Prepared by Piper Jaffray Co.

53 Original Par Amount: Issuer: $84,160,000 Issue Description: Registrar/Paying Agent: Bond Insurer: Bond Counsel: Underwriter: Method of Sale: Arbitrage Yield: DSRF Status Rebateable Funds: Yield Restricted Funds: Last Rebate Calc. Date: Next Rebate Calc. Date: Escrow Fund 2/29/2012 2/29/13 Arbitrage Liability Calcs: (1,280,991.41) Source of Repayment: Bond Covenant: Refunding Certificates of Participation, Series 2009A Wells Fargo None Kutak Rock RBC Capital Markets Negotiated % Cash Funded - $7,725,250 Rebate/Reserve Fund General Fund Lease Payments Annual Appropriation Purpose: Amortization: The Certificates were issued for the purpose of refunding, paying and discharging all of the outstanding Certificates of Participation, Series 2008A and to fund a debt service reserve fund. Principal Coupon* Interest Total P&I 2016* 3,640, % 4,082, ,722, * 3,790, % 3,933, ,723, * 3,945, % 3,775, ,720, * 4,115, % 3,607, ,722, ,290, % 3,433, ,723, ,505, % 3,219, ,724, ,730, % 2,993, ,723, ,965, % 2,757, ,722, ,215, % 2,509, ,724, ,475, % 2,248, ,723, ,750, % 1,974, ,724, ,035, % 1,687, ,722, ,340, % 1,385, ,725, ,655, % 1,068, ,723, ** 14,710, % 735, ,445, TOTAL 84,160, ,411, ,571, Redemption Provision: December 1, 100% Callable Bonds Refunding Status: Current Only Maturity Dates: December 1 Interest Payment Dates: June 1 & December 1 *Indicates Bifurcated Coupons **COPs include $7,725,250 debt service reserve fund to be applied in full to 2030 debt service. 53 Prepared by Piper Jaffray Co.

54 GIDs Prepared by Piper Jaffray Co.

55 GIDs Summary of Outstanding Bond Issues as of January 1, 2016 Issue Original Principal Outstanding Principal Outstanding Coupon Range Optional Redemption Refunding Status Pier Point $ 2,600,000 $ 2,250, % % Non-Callable Meadow Hills 495, , % % Non-Callable Peoria Park 375, , % % Non-Callable Series 2009 (Cherry Creek) 700, , % % Non-Callable Total $ 4,170,000 $ 3,549, Prepared by Piper Jaffray Co.

56 GIDs Summary of Outstanding Bond Issues as of January 1, 2016 Series 2009 (Cherry Creek) Peoria Park Meadow Hills Pier Point Total , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , Total 803, , , ,174, ,661, Prepared by Piper Jaffray Co.

57 GID Financings $350,000 $300,000 $250,000 Total Principal plus Interest $200,000 $150,000 $100,000 $50,000 $ Series 2009 (Cherry Creek) Peoria Park Meadow Hills Pier Point 57

58 Original Par Amount: $2,600,000 Issuer: Pier Point 7 General Improvement District (2-2009) Issue Description: General Obligation Bonds, Series 2011 Registrar/Paying Agent: Director of Finance of the City Bond Insurer: Bond Counsel: Kutak Rock Underwriter FirstBank (Bank Acct # -XXX-XXX-8853) Method of Sale: Arbitrage Yield: % DSRF Status Rebateable Funds: Yield Restricted Funds: Last Rebate Calc. Date: Next Rebate Calc. Date: Arbitrage Liability Calc: Source of Repayment: Taxes levied by the GID on property within its boundaries. Bond Covenant: Covenant by the GID to levy property taxes for debt service on its bonds. Purpose: Pier Point 7 is a group of seven communities, comprising 455 residential units, situated along South Parker Road just north of East Quincy Avenue in Aurora, Colorado. The Pier Point 7 sewer system was designed and constructed over a period of approximately 25 years, from the early 1970s to the completion of Village 8 (there is no Village 7) in the mid-1990s. The purpose of the District is to provide essential sanitary sewer system improvements and services within District boundaries, including, but not limited to, collection mains and laterals, transmission lines and related landscaping improvements, together with all necessary, incidental and appurtenant facilities. In the summer of 2009 the Pier Point 7 General Improvement District was created for the purpose of financing the construction/repairs of the system to bring the private system up to City standards, thereby allowing the City to take over ownership and maintenance of the system. The vote was 232 in favor (93%) and 17 opposed. Amortization: Principal Coupon Interest Total P&I , % 98, , , % 94, , , % 89, , , % 84, , , % 79, , , % 74, , , % 68, , , % 63, , , % 57, , , % 51, , , % 44, , , % 38, , , % 31, , , % 23, , , % 16, , , % 8, , TOTAL 2,250, , ,174, Redemption Provision: Non-Callable Refunding Status: Maturity Dates: November 15 Interest Payment Dates: May 15 & November Prepared by Piper Jaffray Co.

59 Original Par Amount: $495,000 Issuer: Meadow Hills General Improvement District Issue Description: General Obligation Bonds, Series 2010 Registrar/Paying Agent: Director of Finance of the City Bond Insurer: Bond Counsel: Kutak Rock Underwriter Colorado State Bank & Trust Method of Sale: Arbitrage Yield: DSRF Status Rebateable Funds: Yield Restricted Funds: Last Rebate Calc. Date: Next Rebate Calc. Date: Arbitrage Liability Calc: Source of Repayment: Bond Covenant: % Taxes levied by the GID on property within its boundaries. Covenant by the GID to levy property taxes for debt service on its bonds. Purpose: Amortization: In the summer of 2008, General Improvement District (Meadow Hills Country Club) was created for the purpose of constructing 1,670 linear feet of masonry wall. Residents within the District agreed to construct and install a masonry fence and assess an annual levy of property taxes to fund debt service on bonds and the maintenance of such fence. The vote was 40 (58.82%) to 28 (41.18%) in favor of organizing a GID to construct a fence, and 37 (54.41%) to 31 (45.59%) in favor of increasing the property tax to pay for the improvement, and a smaller levy to maintain the fence. The properties to be assessed in the District are owned by 46 property owners. Principal Coupon Interest Total P&I , % 20, , , % 19, , , % 18, , , % 17, , , % 16, , , % 15, , , % 14, , , % 13, , , % 12, , , % 10, , , % 9, , , % 8, , , % 6, , , % 5, , , % 3, , , % 1, , TOTAL 420, , , Redemption Provision: Non-Callable Refunding Status: Maturity Dates: November 15 Interest Payment Dates: May 15 & November Prepared by Piper Jaffray Co.