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<br /> <br />RECEIVED <br />MAY 2 2 2006 <br /> <br />mutual water <br /> <br />Colorado Water <br />Conservation Board <br /> <br /> <br />Mr. Kirk G. Russell, P.E. <br />Water Supply Planning and Finance Section <br />Colorado Water Conservation Board <br />1580 Logan Street, Suite 750 <br />Denver, CO 80203 <br /> <br />Re: Consolidated Mutual Water Company (CMWC) - Loan Contract No. C150011 <br /> <br />Dear Mr. Russell: <br /> <br />We are in receipt of your May 11, 2006 letter and will discuss it with our Board of <br />Directors at their next meeting, which is June 12, 2006. Subject to our Board's <br />approval, we fully intend to proceed with seeking your Board's approval to amend <br />our current Loan Contract. If for any reason our Board does not approve our <br />direction, we will notify you immediately. <br /> <br />Enclosed, per your request, are copies of our 2003, 2004 and 2005 Annual <br />Reports all of which include audited financial statements. If you need additional <br />information or have any questions, please call John Boyle or me. <br /> <br />Sincerely, <br /> <br /> <br />Walter S. Welton, PLS/PE <br />President <br /> <br />cc: CMWCo Board of Directors <br />CMWCo Officers <br /> <br />THE CONSOLIDATED MUTUAL WATER COMPANY <br />12700 West 27th Avenue. P.O. Box 150068. Lakewood, Colorado 80215 <br />Telephone (303)238-0451 · Fax (303)237-5560 <br />