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Colorado Water Conservation Board <br />Water Supply Planning & Finance Section <br />1580 Logan Street, Suite 750 <br />Denver, Colorado 80203 <br />www.cwcb.state.co.us <br />STATE OF COLORADO <br />Subject: Loan Contract C150261 <br />Dear Michelle: <br />We have received your August 27, 2009 letter requesting that the Pagosa Area Water and <br />Sanitation District incur loans totaling $9,322,353 from the Colorado Water Resources & Power <br />Development Authority to upgrade some of the District's wastewater treatment facilities. We <br />also understand that CWR &PDA is seeking a parity lien for this new debt with the CWCB in a <br />pledge of the District's water enterprise revenues. <br />Following the conditions of CWCB Loan Contract C150261 and CWCB financial policies, we <br />have reviewed the parity certificate from Wall, Smith, Bateman and Associates, Inc., and the <br />CWCB consents to this additional debt and the parity lien. <br />If you have any questions or concerns, please contact me at 303 - 866 -3441 ext. 3234. <br />Wie , <br />let, P.E. <br />Section Chief <br />Water Supply Planning and Finance Section <br />cc: CWCB Contract File <br />Brittany Kloppel, CWR &PDA <br />Bill Ritter, Jr. <br />Governor <br />August 27, 2009 <br />Harris D. Sherman <br />Executive Director <br />Pagosa Area Water and Sanitation District <br />Attn: Michelle Tressler <br />Jennifer L. Gimbel <br />CWCB Director <br />100 Lyn Avenue, P.O. Drawer 4610 <br />Pagosa Springs, CO 81157 <br />Dan McAuliffe <br />Deputy Director <br />Subject: Loan Contract C150261 <br />Dear Michelle: <br />We have received your August 27, 2009 letter requesting that the Pagosa Area Water and <br />Sanitation District incur loans totaling $9,322,353 from the Colorado Water Resources & Power <br />Development Authority to upgrade some of the District's wastewater treatment facilities. We <br />also understand that CWR &PDA is seeking a parity lien for this new debt with the CWCB in a <br />pledge of the District's water enterprise revenues. <br />Following the conditions of CWCB Loan Contract C150261 and CWCB financial policies, we <br />have reviewed the parity certificate from Wall, Smith, Bateman and Associates, Inc., and the <br />CWCB consents to this additional debt and the parity lien. <br />If you have any questions or concerns, please contact me at 303 - 866 -3441 ext. 3234. <br />Wie , <br />let, P.E. <br />Section Chief <br />Water Supply Planning and Finance Section <br />cc: CWCB Contract File <br />Brittany Kloppel, CWR &PDA <br />