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<br />05/17/2000 14:50 <br /> <br />9702411919 <br /> <br />COSTELLO ALLYN CPAS <br /> <br />PAGE 02 <br /> <br />PARITY REVENUE BOND CERTIFICATE <br /> <br />517,095,000 <br />UTE WATER CONSERVANCY DISTRICT <br />Water Revenue Bondi <br />Series 2000 <br /> <br />The undersigned, on behalf of Costello, Allyn & Co., P.C., cenified public accountants, <br />Grand Junction, Colorado, in connection with the issuance by Ute Water Conservancy District, <br />acting by and through its Water Activity Enterprise (the "District"), of its Water Revenue Bonds, <br />Series 2000, dated May I, 2000, in the aggregate principal amount of $17,095,000 (the "Series <br />2000 Bonds"), hereby certifies as follows: <br /> <br />1. I am a certified public accountant practicing under the laws of the State of <br />Colorado and am not an officer or employee of the District. <br /> <br />2. The District has provided me with audited financial statements for the District for <br />the 12 month period ending December 31, 1998 and such other information as I have deemed <br />appropriate to execute this Cenificate. <br /> <br />3. The District has provided me with a copy of the resolution authorizing the <br />issuance of the Series 2000 Bonds (the "2000 Bond Resolution") and copies of the resolutions <br />authorizing the issuance of the following bonds: <br /> <br />(a) Ute Water Conservancy District Water Revenue Refunding Bonds, Series <br />1995, dated December 15,1995 (the "1995 Bond Resolution") <br /> <br />(b) Ute Water Conservancy District Water Revenue Refunding Bonds, Series <br />1997, dated June I, 1997 (the "1997 Bond Resolution"), <br /> <br />4. The District has provided me with copies of the contracts relating to the issuance <br />of the following notes of the District: <br /> <br />(a) the District's $1,000,000 CWCB Loan No. CI53329 issued on January I, <br />1982 to the Colorado Water Conservation Board; <br /> <br />(b) the District's $7,500,000 note issued on April 15, 1982 to the Colorado <br />Water Conservation Board, as increased by the additional note of the District in the <br />principal amount of 1487,500 issued on June 16, 1986 to the Colorado Water <br />Conservation Board (collectively CWCB Loan No. CI53380); , <br /> <br />(c) the District's $400,000 CWCS Loan No. CI53670A issued on March 17 <br />1992 to the Colorado Water Conservation Board' ' <br />, <br />