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1].I13/2002 10:20 <br />3e369a3172 <br />I.ILL r 11Yf�-ilYl.1HL JCRV <br />JOHNSON. HQLSCHER CO <br />r��t el <br />PAGE 02 <br />fivr & ComP�n1►, P.C. <br />�`;� Gertlfled Publk Ac+oour+� <br />-� <br />Parker wster ar�a sar►3catioti <br />parkor. Colorado <br />Sherman & Howatd, L..L.C. <br />Denver, Colorado <br />► ��ti�15 <br />r+s �cAR'�' <br />� �� <br />� <br />C�'RTIFICATB AS TO NET RE'VEr1UE <br />� <br />The Parlaar'pVatcr and Sanitatian Dlsulct (thc Dietrict'� ha� �nformed us that �t intends to <br />�� � <br />ontar �nto a L�oan Agreet�tt (thc "ZOOZ Loan") with and che Colorado Water Conservadon Boacd In <br />eddition, the Distrlct ha� informed us that purst�anc to a rzsolution pasaad by tht District's Board of <br />Directors (tho "Board") on Merch 19, 1998 auchotiz�ng the iasuaacx of the Dlstriat'a Waur and Sewer <br />Ravenue Reilu�ding Bonds, 5erioe 1998 (tba "1998 Bonds"). e reaolutiom passed by the Boazd on Auguat <br />23, 2041 suthorlr.;n� tha isauanco o� thc Dis�ricc's Water and Scwcr Revenue Rofunding B+cnds� Soriu <br />2001 (the "2A01 Bonds"). and thc loan a�oemenis wich the Colorado Wate�' Resauncs and Power <br />Dcvelopinent Authority �"CWRP�DA") deted April X� 1994. August 1,1394, May 1, 1997. J�ne 1� 1997� <br />Februsry 15. 2000. May 15, 2000. May 1, 2001. ]una 1, 2002 end October 1. ?A02 (collectivcly. the <br />"C'WRPDA Loans"). the Discnict can issue indebt�noss heving a 1�er1 on the Nat Revenue (as dafwcd <br />below) on parity with the lica of the 1998 Bonds. the 20�1 8onds and the CWRPDA Luans only i[ tt <br />secoivos a cestffleeto of a catified public accountan� not an cmployec oP rhe Disvle[, as w thc Nct <br />Revanttie. Wo henby catt4fy es follows: <br />1. In eccordance with the rosolutiens authorizin� the issuance of cha 1998 Bonds and <br />tho 2d01 Bands� the u�dmrsigned ha�eby cerdfiee ss follows; <br />(a) Thc.Net Rovanue {a� dofin�d is the resoluaons auchorizing the is:uanca of <br />tha 1998 Bonds ar.d thc 2001 Bonds) far thc moat reeanc fiacal ycar imt�tliatie]y ptieccding the dste an <br />which thc 2002 Loan is to be lssued or foT ariy 12 coneecudvo months ot�t of the 18 nrwnth6 praxdim8 <br />the date ot� which the 2002 Loan is ta � iset�ed is �13,927.�68, which is at leaat oqual to 11596 of tha <br />cunant annual principat snd interest requiteaients for th� 1998 Bonds, the 2�41 Bonds, the CWF.P'D+4 <br />Losns, aad the 2002 Loan. <br />(b) The Net Revenuo, caccluding tap fee� and �tandby charges, far the rnott <br />ncent f9ecal year immediately proceding the date oa which the 2002 Loari is to be i��d o�' fo� �y 12 <br />consecuti�e aionrhs out of the 18 months precedfng the date � which the 2002 Loas� i� to bo issuod ie <br />$a.509.516, which is at ]east equal t� the cutrent annual principa] aad inte�est recluirc�cc�ts for d�e 1998 <br />Hoada. the 2001 Bon�ds, the CWRPDA Loen'. �d the 20U2 Loan. <br />2. In accorda�►co with the torma of tho C'V�RP'D�► Loans, the undersignrd l�ereby <br />cerdfia9 es fellowe: <br />(a) The Net Revcnue, exclusive of conncctio� feea. for anY 12 coneecutive <br />months out of tho 18 moachs procvding the monch in which the 20�2 I.osn is cfl be �ssuefl is 36.500.000, <br />o . whlch is at lceat equal co the maximum annual debt senrica of all outstanding 9sidcbtedress of che <br />Dietrlet on a parity with or senior to the lien on ch+e Net Rcvcnuc of the CWRPDA Loans and thc Z002 <br />Loeu�. <br />M.nea ot uie u�r.e � or c�ulha wohe �ecaMtina a47s rr.wiwood Am �, Sa ��o <br />MlA�bn d M1� wMb Canp�ies P►eak� 9�01ee► o�Mnrnm wp�, m bGif3 <br />69�iT1J <br />�..... �..- - - - -.r►.w �a f9�-i1T1 <br />