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12/14/95 .16:25 %T <br />WILLIAMS, TURNER & HOLMES, P.C. <br />ATTORNEYS AT LAW <br />Act NW"P Aid h0*(*& <br />2 <br />14001/002 <br />00 <br />10. S o gme December 14, 1995 <br />J. D. Snodpnt�f <br />WNhm D. MOW <br />Do* J. Tvmtr' <br />Mid A. H*(MWdMd' <br />SvWKCode VIA FAX 303 -866 -3558 <br />MaAEHIMMM Linda Bassi <br />1k11 M. Kwah Office of the Attorney General <br />Re: CWCB Contract With Ute Water Conservancy District <br />Contract No. C153670 <br />Dear Linda: <br />This will confirm our telephone conversation of this afternoon. As you arc <br />aware, we represent Ute Water Conservancy District and its enterprise, The Ute <br />Water Activity Enterprise. Ute Water and its Enterprise have several contracts with <br />CWCB, including the above referCid, contract. Paragraph 13.a. of the above <br />referenced contract contains a Pl revenues by Ute Water's Enterprise to <br />CWCB in an amount sufiden`t t r "` CWCB �o ck subject only to the pledge <br />of funds for repayment of Vte 6r, s 9 ?' 'N ►enue Refunding Bonds, <br />Ute Water's 1987 Water "ir ending Bonds were issued in 1987 in <br />an aggregate principal =wu$d-*6j?(0,000. Ute Water and its Enterprise are now <br />proposing to advance refund sr ortion of the 1987 bonds. The portion to be advance <br />refunded equals $5,740,000. ' The refunding is being done to take advantage of lower <br />interest rates, and no additional obligations are being created as a result of the <br />advance refunding.. The 1995 bonds will be secured by revenues of the District and <br />will have a first lien on revenues of the District on a parity equal to the 1987 bonds - <br />Bond counsel for the issuance of the 1995 bonds, Fred Marienthal of Kutak Rock, <br />A have a copy of the preliminary Official Statement delivered to you this afternoon. <br />That preliminary Official Statement will explain the refunding plan for the 1995 bonds. <br />Prior to issuing the 1995 bonds, we want to make sure that the issuance of <br />those bonds does not violate the terns of the above referenced contract between <br />CWCB and Ute Water and its Eoterprise, or any of the other existing contracts <br />between Ute Water and CWCB. We believe that the 1995 bond issuance will not <br />conflict with result in a breach of, or constitute a default under the above referenced <br />contract with CWCB, or any of the other contracts Ute Water has with CWCB. <br />Ute Water and its Enterprise intend to issue the bonds on Wednesday, . <br />December 20, 1995. I would appreciate it ifyou could confirm to me, in writing, that <br />the 1995 bond issuance will not conflict with, result in a breach of or constitute a <br />default under any of the contracts between Ute Water, its Enterprise and CWCB. <br />oDArTHO M KAM ULDW <br />MKIMS"W-POYoex10 - - <br />Gfg10 Junafon. CabR4v OtSa2 -p93Y <br />Fhm 9M42 -6V. <br />MWOMCE ATTACHMENT 1 <br />04 DO Qorw Amm <br />MQ*. V 1 %S 2-M <br />PhW Y01/d59 -Ml <br />