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• • <br /> • <br /> CONSENT TO ISSUANCE OF PARITY BONDS <br /> The undersigned owners, respectively, of the City of Fort <br /> Morgan, Colorado, Water Works and Distribution Enterprise, Water <br /> Revenue Refunding and Improvement Bond, Series 1994 , dated April 1, <br /> 1994, in the principal amount of $2 , 500, 000 and the City of Fort <br /> Morgan, Colorado, and the City of Fort Morgan, Colorado Water Works <br /> and Distribution Enterprise, Loan Contract and Promissory Note, <br /> dated August 7, 1995, in the principal amount of $5, 500, 000 <br /> (collectively, the "Prior Obligations") , hereby consent to the use <br /> of the assumptions and calculations set forth in the attached <br /> Coverage Certificate for the purpose of satisfying the requirements <br /> for the issuance of parity securities under the ordinances <br /> authorizing the issuance or the execution and delivery of the Prior <br /> Obligations or in the Prior Obligations themselves, and based on <br /> the coverage shown therein, the undersigned further consent to the <br /> issuance of the City of Fort Morgan, Colorado, Water Works and <br /> Distribution Enterprise, Water Revenue Bonds, Series 1997, dated <br /> December 16, 1997, in the aggregate principal amount of $31, 000, 000 <br /> (the "Bonds") , the execution and delivery of the Reimbursement <br /> Agreement, dated December 16, 1997, between State Street Bank and <br /> Trust Company and the City of Fort Morgan, Colorado, Water Works <br /> and Distribution Enterprise and the issuance to the Colorado Water <br /> Resources and Power Development Authority, the Colorado Water <br /> Conservation Board and the United States Department of Agriculture <br /> - Rural Development of any Additional Parity Bonds (as defined in <br /> the ordinance authorizing the issuance of the Bonds) issued for the <br /> purpose of refunding the Bonds and having a lien on the Net Pledged <br /> Revenues (as defined in the ordinance authorizing the issuance of <br /> the Bonds) on a parity with, and not superior to, the lien thereon <br /> of the Prior Obligations, notwithstanding any provision to the <br /> contrary contained in the ordinances authorizing the issuance or <br /> the execution and delivery of the Prior Obligations or in the Prior <br /> Obligations themselves. <br /> The Colorado Water Resources and Power Development <br /> Authority also hereby represents that the foregoing test has been <br /> approved by Financial Guaranty Insurance Company. <br /> INT <br /> fl <br /> Attachment C to Loan Contract Amendment No. 1 <br />