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The award of this ARRA funding with principal forgiveness and zero interest is certainly <br />a huge benefit to this community and affords the District with a reasonable means to <br />accomplish these very necessary improvements to the wastewater system. The District <br />has been responding to the timing restraints as quickly as possible but the necessary <br />information for parity testing, regarding the allocation of loan and grant funding, was not <br />released until August 10, 2009. I apologize for asking your agency for an extremely <br />short turn- around on this approval; however, it will be necessary for the District to <br />receive your permission to enter into this financing by September 2, 2009, in order to be <br />in compliance with its obligation to the CWCB and meet the closing date established by <br />the Authority. <br />Sincerely, <br />Michelle A. Tressler <br />Assistant Finance Manager <br />cc: Thomas Weihe, Kutak Rock <br />James Mock, Collins Cockrel & Cole <br />