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<br />t) <br /> <br />'- <br /> <br />STATE OF COLORADO } <br />} <br />COUNTIES OF BOULDER AND WELD } <br />} <br />TOWN OF 8liE } <br /> <br />ADDITIONAL BONDS CERTIFICATE <br /> <br />IT IS HEREBY CERTIFIED by the undersigned, J. W. Simmons & Associates, P.C. of <br />Englewood, Colorado, a firm of independent certified public accountants, that: . <br /> <br />I. This Certificate is delivered in connection with the issue of the Town of Erie, <br />Colorado, Water Enterprise Bonds, Series 1997B, in the aggregate principal <br />amount of $8,325,000 (the "Bonds"), which were authorized to be issued pursuant <br />to Ordinance No. 574 passed and adopted by the Board of Trustees (the "Board of <br />Trustees") of the Town of Eire (the "Town") on July 31, 1997. <br /> <br />2. The Town has heretofore issued its Water Improvement revenue Bonds, Series <br />1971 (the "1971 Bonds") (the"Bonds") pursuant to Ordinance 242 (the "Bond <br />Ordinance"). All terms used herein shall have the same meaning as in the Bond <br />Ordinance unless otherwise defined herein. Pursuant to the Bond Ordinance, the <br />Town is restricted in its ability to issue additional obligations with a lien on the <br />net revenue of the water system unless certain cO,nditions have been satisfied. <br /> <br />3. From Janwuy 1, 1996 to December 31,1996, the net revenues of the water system <br />equaled $1,410,930. <br /> <br />4. The average annual debt service on the 1971 Bonds, the loan to the Town from <br />the Colorado Water Conservation Board and the Bonds is $677,605. <br /> <br />5. $1,410,930 divided by $677,605 is 208% which exceeds 120%. <br /> <br />6. The Town is not, and has not been, in default as to any payments required to be <br />made during 1996. <br /> <br />Executed this August 12, 1997 <br /> <br />\ <br />''---' <br /> <br /> <br />Attachment A to Amendment No.1 to Contract C153668 <br />