The Encore on 34 Metropolitan District Nos. 1-3 (”Districts”) are governmental entities and political subdivisions of the State of Colorado, designed to serve as perpetual quasi-municipal corporations, each operating with an elected five-person Board of Directors. The primary purpose of the Districts is to finance infrastructure required by Encore on 34 development and to provide an ongoing institutional structure for the operation and maintenance of signage, recreation and landscaping, and other public facilities.