Centennial Parity Certificate

• Contract/PO #: CT2016-2053
• Contract/PO #: CT2016-2055
• Contract/PO #: CT2016-2056
• Contractor Name: Centennial Water and Sanitation District
• Contract Type: Loan
• Loan Projects - Doc Type: Contract Documents

Haynie &
Company
41Fr
Certified Public Accountants (a professional corporation)
1221 West Mineral Ave, Ste.202 Littleton, Colorado 80120-4544 [phone] Fax[phone]
Colorado Water Conservation Board
1313 Sherman Street, Suite 721
Denver, CO 80203
Re: Parity Certificate
Centennial Water and Sanitation District (the "District"), Douglas County,
Colorado Loan Contracts and Promissory Notes with the Department of Natural
Resources,Colorado Water Conservation Board.
For participation in the Chatfield Reallocation Project and the execution and
delivery of Promissory Notes in the principal amount of $4,978,290 for storage; in
the principal amount of$28,527,450 for construction and in the principal amount of
$10,934,260 for mitigation monitoring (the "Loan Contracts")
Based on analysis using the audited financial statements of the District for the 12-month
period ended December 31, 2014, and unaudited financial statements of the district for
the 1st quarter ended 3/31/15 to estimate the 12-month period ended 3/31/15, we hereby
certify that:
The revenues for twelve consecutive months out of the last eighteen months less
operation and maintenance expenses:
(i) equals to or exceeds 100% of the annual debt service on total outstanding
debt obligations (prior to the execution and delivery of the Loan Contracts)
(see Exhibit A);
(ii) equals to or exceeds 100% of annual debt service on total outstanding
debt obligations (after the execution and delivery of the Loan Contracts) (see
Exhibit A), and
(iii) the sum of revenues and capital contributions, consisting of capacity
fees, less operation and maintenance expenses, plus amounts in the Financial
Assurance Fund, which acts as the equivalent of a Rate Stabilization Fund,
equals or exceeds 125% of annual debt service on the total outstanding debt
obligation (after the execution and delivery of the Loan Contracts) (See
Exhibit A)
(iv) the sum of revenues and capital contributions, consisting of capacity
fees, less operation and maintenance expenses, equals or exceeds 100% of
annual debt service on the total outstanding debt obligation, and all required
deposits to reserve funds (after the execution and delivery of the Loan
Contracts)(See Exhibit A)
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