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As of September 12, 2014 the District has used $6,790,000 of its $20,000,000 voted <br /> authorization for water improvements. After the issuance of the 2014 Loans in the total amount <br /> of $4,908,600, the District will have used $11,698,600 of its voted authorization for water <br /> improvements and will have the authority to issue additional obligations for water improvements <br /> in the amount of$8,301,400. <br /> We hereby certify that the debt service requirements related to the water portion of the District's <br /> existing debt and the proposed Loan's (as further described in Exhibit I) do not exceed the <br /> maximum annual and total repayment cost parameters approved by the voters of the District at <br /> an election held on November 1, 2005 and that the District has sufficient authorization for water <br /> improvements with the issuance of the 2014 Loans. <br /> i; . P as <br /> Simmons& Wheeler, P.C. <br />