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<br />AID <br /> <br />ANIiERSON - RASMUSSEN - DI~~~.~W~[Q) <br />AUG22 1996 <br /> <br />CERTIFIED PUBLIC ACCOUNTANTS <br />PREMIERE BUILDING <br />825 DELAWARE AVENUE. SUITE P-203 <br />LONGMONT, COLORADO 80501 <br /> <br />OFFICE OF THE <br />NA~~Q~31772-0621 <br />.U~~-7172 <br />FAX (303J 772-0646 <br /> <br />STEVEN.C. ANDERSON. C.P.A. <br />. LUTHER RASMUSSEN, C.P.A. <br />RAYMOND E. DERR. C.P.A. <br /> <br />PARITY CERTIFICATE <br /> <br />The undersigned, pursuant to Exhibit F to the Loan Agreement, dated as <br />of February 1, 1996, (the "Loan Agreement") ,. between the Colorado Water <br />Resources and Power Development Authority and the Town of Johnstown, <br />Colorado (the "Town")" acting by and through the ..Town of Johnstown, <br />Colorado, Water Activity Enterprise (the "Enterprise"lexecuted and <br />'-delivered in connection with the issuance by the Town and through ,the <br />Enterprise, ,hereby certifies in connection with the execution and <br />. delivery of the Loan Contract and Promissory Note, dated February 1, <br />1996, (the "Contract"), by and between the State of Colorado ,for the <br />use and benefit of the Colorado Water Resources and power. Development <br />Authority, the City and the Enterprise in the principal amount of <br />$1,785,000, that: <br /> <br />1. The undersigned is an independent firm of .certified public <br />accountants. <br /> <br />2. The revenues of the System (as defined in the Loan Agreement), <br />exclusive of connection fees, after payment of all expenses of <br />operating and maintaining the System, for the 12 consecutive month <br />period ended August 1, 1996, increased to reflect the revenues that <br />would have been received by the Town if the adjustment in rates <br />made by Ordinance of the Town adopted on February 5, 1996, <br />effective. February 1, 1996, had been in effect throughout said <br />period, would be $213,380. <br /> <br />3. The combined maximum annual debt service .requirement of all <br />outstanding obligations of the Town or the Enterprise having <br />a lien on the Pledged Property (as defined in the Loan Agreement) <br />on a parity with or senior to the lien thereon of the Contract, <br />are $176,861. <br /> <br />IN NITNESS WHEREOF, the undersigned has hereunto set his hand this 20th <br />day of August, 1996. <br /> <br />~7~~ PC. <br /> <br />ANDERSON RASMUSSEN-DERR, PC <br />Certified Public Accountants <br />by Raymond E. Derr, CPA <br />