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Haynie& <br /> Company <br /> Air <br /> Certified Public Accountants (a professional corporation) <br /> 1221 West Mineral Ave,Ste.202 Littleton,Colorado 80120-4544 (303)734-4800 Fax(303)795-3356 <br /> Colorado Water Conservation Board <br /> 1313 Sherman Street, Suite 721 <br /> Denver, CO 80203 <br /> Re: Parity Certificate <br /> Centennial Water and Sanitation District (the "District"), Douglas County, <br /> Colorado Loan Contracts and Promissory Notes with the Department of Natural <br /> Resources,Colorado Water Conservation Board. <br /> For participation in the Chatfield Reallocation Project and the execution and <br /> delivery of amended Promissory Note in the principal amount of $37,573,717 for <br /> construction (the "Loan Contract") <br /> Based on analysis using the audited financial statements of the District for the 12-month <br /> period ended December 31, 2017, and effectively adjusting capacity fee revenue to 10% <br /> of total revenue,we hereby certify that: <br /> The revenues for twelve consecutive months out of the last eighteen months less <br /> operation and maintenance expenses: <br /> (i) equals to or exceeds 100%of the annual debt service on total outstanding <br /> debt obligations (prior to the execution and delivery of the Loan Contracts) <br /> (see Exhibit A); <br /> (ii) equals to or exceeds 100% of annual debt service on total outstanding <br /> debt obligations (after the execution and delivery of the Loan Contracts)(see <br /> Exhibit A),and <br /> (iii) the sum of revenues and capital contributions, consisting of capacity <br /> fees, less operation and maintenance expenses, plus amounts in the Financial <br /> Assurance Fund, which acts as the equivalent of a Rate Stabilization Fund, <br /> equals or exceeds 125% of annual debt service on the total outstanding debt <br /> obligation (after the execution and delivery of the Loan Contracts) (See <br /> Exhibit A) <br /> (iv) the sum of revenues and capital contributions, consisting of capacity <br /> fees, less operation and maintenance expenses, equals or exceeds 100% of <br /> annual debt service on the total outstanding debt obligation, and all required <br /> deposits to reserve funds (after the execution and delivery of the Loan <br /> PrimeGlobal Contracts)(See Exhibit A) <br /> RSM US Alliance <br /> ■MI— <br /> RSM <br /> 1785 West Printers Row 50 West Broadway,Suite 600 5974 South Fashion Pointe Dr.,Suite 120 873 North Cleveland Avenue 2702 N.Loop 1604 E.,Ste.202 <br /> Salt Lake City,Utah 84119 Salt Lake City,UT 84101 South Ogden,UT 84403 Loveland,Colorado 80537 San Antonio,TX 78232 <br /> (801)972-4800 (801)532-7800 (801)479-4800 (303)577-4800 (210)979-0055 <br />