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<br />.. <br />The Ballot Question was certified by the District to the Clerk and Recorder of the <br />Counties in accordance with applicable law on or before 55 days prior to the election. <br />On or before 30 days before such election, the District mailed the notice with respect to <br />the Ballot Question that is required by Article X, Section 20 of the Colorado Constitution <br />to "all registered voters" of the District, which notice was in the form of Exhibit A hereto. <br />The notice of such election required by Section 1-5-205, Colorado Revised Statutes, as <br />amended, was published in a newspaper of general circulation in the District at least 10 <br />days before the election. Finally, a canvass of the results of the election indicating that <br />the Ballot Question passed is attached hereto as Exhibit B. <br /> <br />14. Following the execution of the Contract and the borrowing by the District <br />of the entire Loan Amount, the District will have $5,000,000 remaining authorized but <br />unissued indebtedness pursuant to the provisions of the Ballot Question. <br /> <br />15. To the best of our knowledge, no circumstances exist which prevent the <br />District from executing the Contract. <br /> <br />[Signature Page Follows] <br /> <br />3 <br />