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This document - incorpor,;_,_:,
<br /> into the contractby refer1;,,,r
<br /> PARITY LIEN BOND CERTIFICATE
<br /> Little Thompson Water District
<br /> acting by and through the
<br /> Little Thompson Water District Water Activity Enterprise
<br /> Larimer, Weld an Boulder Counties, Colorado
<br /> Colorado Water Conservation Board Loan to Construct Dry Creek Reservoir
<br /> The undersigned, by and on behalf of Watkins & Schommer, Inc. , Certified Public
<br /> Accountants, Greeley, Colorado, in connection with the issuance by Little Thompson
<br /> Water District, acting by and through its water activity enterprise, Larimer, Boulder,
<br /> and Weld Counties, Colorado (the "District") , of its Colorado Water Conservation Board
<br /> Loan, in the aggregate principal amount of $3, 937,500 (the "2004 Loan") , hereby
<br /> certifies as follows (capitalized words and phrases used herein shall have the same
<br /> meaning as set forth in the Resolution of the District adopted on October 7, 2004,
<br /> authorizing the issuance of the 2004 Loan) :
<br /> 1 . I am an independent certified public accountant within the meaning of § 12-2-
<br /> 115, C.R.S. , as amended, licensed to practice in the State of Colorado
<br /> 2 . The District has provided me with unaudited financial information which permits
<br /> me to calculate Net Revenue for the 12-month period ending August 31, 2004. The
<br /> District has also provided me with copies of the following documents:
<br /> (a) the proceedings relating to the Governmental Agency Bond, dated
<br /> September 15, 1992, issued by the DistrM. Mialra do Water Resources
<br /> and Power Development Authority whict"GAL refunded in 1998
<br /> (collectively, the "First Lien Senior
<br /> (b) the resolution of the District adopted on-Ma 1 (the "Series
<br /> 1999 Resolution") providing fors f e strict's Water
<br /> Revenue Bonds, (First Lien Junio es 91, 1999 (the
<br /> "Series 1999 Bonds") ; Vaih
<br /> -a-,.
<br /> (c) the resolution of the District adopted on June 1, 2000, the (Series)
<br /> 2000 Resolution") providing for the issuance of the District' s Water
<br /> Revenue Bonds (First Lien Junior) , Series 2000, dated June 1, 2000
<br /> (the "Series 2000 Bonds") ;
<br /> (d) resolution of the District adopted on October 10, 2002, (the "Series
<br /> 2002 Resolution") providing for the issuance of the District' s Water
<br /> Revenue Bonds First Lien Junior) , Series 2002, dated October 1, 2002
<br /> (the "Series 2002 Bonds") ;
<br /> (e) the resolution of the District adopted on October 7, 2004, (Colorado
<br /> Water Conservation Board 2004 Loan) providing for the issuance of the
<br /> District' s $3,937,500 loan with the Colorado Water Conservation Board; and
<br /> (f) debt service schedules for the First Lien Senior Bond, the
<br /> Series 1999 Bonds, the Series 2000 Bonds, the Series 2002 Bonds, the
<br /> Series 2004 Bonds, and the 2004 Loan which are set forth in Exhibit A
<br /> hereto.
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