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2. In accordance with the terms of the CWRPDA Loans, the undersigned hereby certifies as <br />follows: <br />a) The Net Revenue, exclusive of connection fees, for the 12 consecutive months <br />preceding the month in which the 2010 Loan is to be issued (12 months ended <br />September 30, 2010) is $11,337,147, (which includes $3,300,000 withdrawn from <br />the District's rate stabilization account) which is at least equal to the inaximum <br />annual debt service of all outstanding indebtedness of the District on a parity with or <br />senior to the lien on the Net Revenue of the 1998 Bonds, the 2001 Bonds, the <br />CWRPDA Loans, the CWCB Loan and the 2010 Loan. <br />b) The Net Revenue for the 12 consecutive months preceding the month in which the <br />2010 Loan is to be issued (12 months ended September 30, 2010} is $10,231,762, <br />which is at least equal to 110% of the maximum annual debt service of all <br />outstanding indebtedness of the District on a parity with or senior to the lien on the <br />Net Revenue of the 1998 Bonds, the 2001 Bonds, the CWRPDA Loans, the CWCB <br />Loan and the 2010 Loan. <br />c) The maximum annual debt service of the 1998 Bonds, the 2001 Bonds, the <br />CWRPDA Loans, the CWCS Loan and the 2010 Loan is $9,247,581 occumng in <br />2019, as shown in Exhibit A based on final pricing nuinbers for the 2010 Loan <br />provided by the underwriter. <br />3. In accordance with the terms of the CWCB Loan, the undersigned hereby certifies as follows: <br />a) The "Borrower's Revenues" (as defined in the Loan Contract) far the 12 consecutive <br />months immediately preceding the date of issuance of the 2010 Loan (12 inonths <br />ended September 30; 2010), are sufficient to pay its annual operating and <br />maintenance expenses, annual debt service on the 1998 Bonds, the 2001 Bonds, the <br />CWRPDA Loans, the CWCB Loan and the 2010 Loan, and all required deposits to <br />any reserve funds required by the 1998 Bonds, the 2001 Bonds, the CWRPDA Loans, <br />the CWCB Loan and the 2010 Loan. No more than 10% of total revenues originate <br />from tap and/or connection fees. <br />, . ��� <br />Clifton Gunderson, LLP <br />Independent Certified Public Accountants <br />October 21, 2010 <br />2 <br />