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KUTAK ROCK LLP <br /> SUITE 3100 ATLANTA <br /> CHICAGO <br /> 1801 CALIFORNIA STREET DES MOINES <br /> DENVER, COLORADO 80202-2626 IRVINE EVILLE <br /> IRVINE <br /> KANSAS CITY <br /> 303-297-2400 LITTLE ROCK <br /> FACSIMILE 303-292-7799 LOS ANGELES <br /> OKLAHOMA CITY <br /> www.kutakrock.com OMAHA <br /> PASADENA <br /> RICHMOND <br /> SCOTTSDALE <br /> WASHINGTON <br /> WICHITA <br /> THOMAS M. PELTZ April 17, 2006 <br /> A- <br /> thomas.peltz@kutakrock.com <br /> (303)292-7807 <br /> Chad Henderson <br /> Loan Contract Manager <br /> Water Supply Planning and Finance Section <br /> Colorado Water Conservation Board <br /> 150 Logan Street, Suite 750 <br /> Denver, Colorado 80203 <br /> Re: Colorado Water Conservation Board Loan Contract No. 150210 and Contract <br /> No. 150121 with the Little Thompson Water District (the"CWCB Loans") <br /> 1 <br /> ,3 <br /> Dear Chad: <br /> The purpose of this letter is to f u on n ersatio4:'last week in written form. <br /> As I indicated in our conversation, Kuhis <br /> i s ng z s cal bond counsel for a <br /> borrowing by the Little Thompson W ct y e istrict") from the Colorado Water <br /> Resources and Power Development Authority (the "Authority") which is scheduled to close on <br /> April 27, 2006. The primary purpose of the District's borrowing from the Authority is to finance <br /> a new 30 mgd water treatment facility, including new filters and flocculators. <br /> Without an additional rate increase of approximately 9%, the District would not meet the <br /> additional bonds test established in the CWCB Loans. As you know, disbursements are still <br /> being made from the CWCB Loans and no payments are yet due and payable by the District to <br /> the Colorado Water Conservation Board ("CWCB")under the terms of the CWCB Loans. <br /> District Request for Consent <br /> On behalf of the District, we respectfully request that the Colorado Water Conservation <br /> Board consent to the District's borrowing from the Authority (the "2006 Authority Loan") as a <br /> parity obligation on the basis that the District will adopt a rate increase within a reasonable <br /> period of time following such CWCB consent. In making such request the District will agree to <br /> fully fund the reserve accounts securing the CWCB Loans prior to or before the date of closing <br /> Kutak Rock-Firm Library-4835-8633-4976.1 <br />