Laserfiche WebLink
<br />..~'" . <br /> <br />~ROM.BALLARD SPAHR DENVER <br />, - <br /> <br />, . <br /> <br />. <br /> <br />. <br /> <br />. <br /> <br />(MON) 11. 24' 97 8:57/ST. 8: 56/NO, 4260005189 P 2 <br /> <br />CONSENT TO ISSUANCE OF PARITY BONDS <br /> <br />The undersiqned owners, respectively, of the City of Fort <br />Morgan, Colorado, Water Works and Distribution Enterprise, Water <br />Revenue Refunding and Improvement Bond, Series 1994, dated April 1, <br />1994, in the principal amount of $2,500,000 and the City of Fort <br />Morgan, colorado, and the City of Fort Morgan, Colorado Water Works <br />and Distribution Enterprise, Loan Contract and Promissory Note, <br />dated Auqust 7, 1995, in the principal amount of $5,500,000 <br />(collectively, the "Prior Obligations"), hereby consent to the use <br />of the assumptions and calculations set forth in the attached <br />coverage Certificate for the purpose of satisfying the requirements <br />for the issuance of parity securities under the ordinances <br />authorizing the issuance or the execution and delivery of the Prior <br />Obligations or in the Prior Obligations themselves, and based on <br />the coverage shown therein, the undersigned further consent to the <br />issuance of the City of Fort Morgan, Colorado, Water Works and <br />Distribution Enterprise, Water Revenue Bonds, Series 1997, dated <br />December 4, 1997, in ~e aqqreqa~e principal amount of $31,000,000 <br />(the "Bonds"), the execution and delivery of the Reimbursement <br />Agreement, dated December 4, 1991, between State Street Bank and <br />Trust Company and the city of Fort Morgan, Colorado, Water Works <br />and Distribution Enterprise and the issuance to the Colorado Water <br />Resources 'and Power Development Authority, the Colorado Water <br />Conservation Board and the United States Department of Agriculture <br />- Rural Development of any Additional Parity Bonds (as defined in <br />the ordinance authorizing the issuance of the Bonds) issued for the <br />purpose of refunding the Bonds and having a lien on the Net Pledged <br />Revenues (as defined in the ordinance authorizing the issuance of <br />the Bonds) on a parity with, and not superior to, the lien thereon <br />of the ~rior Obligations, notwithstanding' any provision to the <br />contrary contained in the ordinances authorizing the issuance or <br />the execution and delivery of the Prior Obligations or in the prior <br />Obligations themselves. . <br /> <br />The Colorado water Resources and Power Development <br />Authority also hereby represents that the foregoing test has been <br />approved by Financial Guaranty Insurance Company. <br /> <br />45104S.003(PF} <br /> <br />21 <br /> <br />11/22/97 <br />