C150210 Paid in Full Contract

• Contract/PO #: C150210
• Contractor Name: Little Thompson Water District
• Contract Type: Loan
• Loan Projects - Doc Type: Contract Documents

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(3) The District will fully fund the reserve accounts securing the CWCB Loans
prior to or before the date of closing on the 2006 Authority Loan rather than waiting the
permitted ten-year period for the funding of such accounts. The District will also fully
fund a reserve account for the 2006 Authority Loan(which is not required under the
agreement between the District and the Authority providing for the 2006 Authority
Loan). Such reserve accounts, together with the reserve accounts established for the
outstanding parity obligations, will result in aggregate reserve account balances of
$2,792,987 until calendar year 2008, at which time the reserve account balance will be
reduced to $2,716,326 to equal the maximum annual debt service amount on the
District's parity lien obligations.
(4) The District will consider a rate increase of 9%in January of 2007 as part of
its annual policy to incrementally increase its system rates and charges. In making such
determination, the Board of Directors will consider, among other things, new system
customers which begin service in 2006 and the net revenue which will reasonably result
from said customers.
Having made said covenants and representations, the District respectfully requests
pursuant to Section 8(e)(ii) of the respective CWCB Loan Contracts that the Colorado
Water Conservation Board consent to the District's borrowing from the Authority(the
"2006 Authority Loan") on April 27, 2006, in the aggregate principal amount of
$6,383,774.
Respectfully submitted,
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Richard H.H. Whittet
District Manager
As the CWCB Director, I hereby grant the consent requested pursuant to the terms
outlined on behalf of U34 t t in this letter agreement.
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By:
Rod Kuharich, CWCB Director
Kutak Rock-Firm Library-4852-2145-8432.1