NOTICE TO TAXPAYERS OF

BUDGET ESTIMATES & TAX RATES

Notice is hereby given the taxpayers of the Valparaiso Lakes Area Conservancy District located in Center Township, Porter County, Indiana, that the Board of Directors of the Valparaiso Lakes Area Conservancy District will meet at their regular meeting place (Valparaiso North Side Fire Station) at 2605 Cumberland Drive, Valparaiso, Indiana on the 15th day of September, 2010, at 6:00 p.m., and will at that time conduct a public hearing on the proposed 2011 conservancy district operating budget, tax rate and levy. Thereafter, pursuant to I.C. 6-1.1-17-5, ten or more taxpayers may object to the budget, tax rate, or tax levy of the conservancy district by filing an objection petition with the conservancy district not more than seven (7) days after the aforementioned public hearing. The objection petition must specifically identify the provisions of the budget, tax rate and tax levy to which the taxpayers object. If a petition is filed by objection taxpayers, the Board of Directors of the Valparaiso Lakes Area Conservancy District will consider such objection and will adopt with its budget a finding concerning the objection in the petition and any testimony presented at the adoption hearing. Thereafter, the aforementioned Board of Directors will meet at their regular meeting place (Valparaiso North Side Fire Station) on the 20th day of October, 2010, at 6:00 p.m. to adopt the following budget:

BUDGET ESTIMATE

(Complete details of the budget estimate by fund and/or department may be seen at the offices of the Valparaiso Lakes Area Conservancy District, located at 1805 Burlington Beach Road, Valparaiso, Indiana, during regular business hours).

NET ASSESSED VALUATION: $200,000,000

GENERAL FUND

Budget Estimate $167,600

Estimate of funds to

be raised $167,600

Net Tax Rate $0.0838

Current Tax Levy $162,997

CUMULATIVE IMPROVEMENT FUND

Budget Estimate $30,000

Estimate of funds to

be raised $30,000

Net Tax Rate $0.015

Current Tax Levy $29,245

Taxpayers appearing shall have a right to be heard thereon. After the tax rates have been determined and presented to the Porter County Auditor, ten or more taxpayers, feeling themselves aggrieved by such rates, may appeal to the State Department of Local Government Finance for further and final hearing thereon by filing a petition with the county auditor on or before the tenth day after publication by the county auditor of tax rates charged, and the State Department of Local Government Finance will fix a date for hearing in Porter County.

Richard Brychell, Chairman

Valparaiso Lakes Area

Conservancy District

(August 27, September 3, 2010)