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Anna Mauss <br /> January 28,2014 <br /> Page 2 <br /> In addition, pursuant to our conversation, I am attaching herewith the 2012 audit of the <br /> District as well as the 2013 December Financial Statements. It should be clear from a review of <br /> those documents, specifically under "Revenues" and the listing of water usage fees, water tap <br /> fees, and PIF — new connection, as well as the Plant Investment Fee listed, that there will be <br /> sufficient such revenues to pay the debt service as required. <br /> I understanding, given the above information and our conversation, that you do not <br /> anticipate any difficulty in obtaining the Board's approval to this change. During the next few <br /> weeks I will be preparing resolutions to establish the Enterprise and to approve the loan from the <br /> Colorado Water Conservation Board. I will provide those to you in advance for your comments <br /> if you desire. <br /> Very truly yours, <br /> SPEN FANE&GRIMSHAW LLP <br /> 46-7 `� . <br /> arry <br /> W. Berkowitz <br /> LWB/mlc <br /> Enclosures <br /> Cc: Mr. Fred Rupp, President,Bellyache Ridge Metropolitan District <br /> Co/Robertson&Marchetti, PO Box 600, Edwards, CO 81632 <br /> Ken Marchetti (via e-mail: ken @rmpccpa.com) <br /> DN 950012.1 <br />