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315B Emerson Street P O Box 1 <br />Hillrose, CO 80733-0001 <br />(970) 847-3761 <br />May 25, 2007 <br />Vaughn <br />Colorado Water Conservation Board <br />1580 Logan Street, Suite 750 <br />Denver, CO 80203 <br />Vaughn, <br />Pursuant to our Loan Contract C150178 we are requesting to be allowed to incur <br />additional debt of $995,097 at 0% interest for 30 years from the Colorado Water <br />Resources & Power Development Authority. This debt is for a federal and state <br />mandated $1.7 million upgrade of our water system due to high levels of uranium. We <br />received a$600,000 grant from CDBG and have received approval for a$466,000 grant <br />and a$44,000 loan from USDA Rural Development for this project. We hope that the <br />project will not require the full $995,097 loan. <br />They are asking that their debt be on parity with the Colorado Water Conservation <br />Board Loan and our auditor, Scott Szabo with Lauer, Szabo and Associates, has <br />provided a parity certificate and related exhibits for your review. <br />The loan closing is scheduled for May 31, 2007 with the CWR&PDA and our contact <br />there is Brittany Marty, Financial Analyst. <br />Please contact me if you have any questions or concerns. <br />Sincerely, <br />•, � <br />r � <br />Ly Go emboski <br />Town Clerk & Administrator <br />A Sma.11 Town with �riendly People! <br />