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<br />WILLIAM C. ANOERSON, CPA <br />MICHAEL S. LEE. CPA <br /> <br />.. <br /> <br />~ <br /> <br />ANDERSON, LEE & COMPANY - ~ <br /> <br />- <br /> <br />527 West Platte Avenue - P.O. Box 594 <br />Fort Morgan, Colorado 80701 <br />Bus. (303) 867.8591 <br />Fax (303) 867-9653 <br /> <br />CERTIFIED PUBLIC ACCOUNTANTS <br /> <br />PARITY CERTIFICATE <br /> <br />The undersigned, pursuant to Exhibit F to the Loan Agreement, dated as of April <br />1, 1994 (the "Loan Agreement"), between the Colorado Water Resources and Power <br />Development Authority and the City of Fort Morgan, Colorado (the "City"), acting by and <br />through the City of Fort Morgan, Colorado, Waterworks and Distribution Enterprise (the <br />"Enterprise"), executed and delivered in connection with the issuance by the City, acting by <br />and through the Enterprise, of its Water Revenue Refunding and Improvement Bond, Series <br />1994, in the aggregate principal amount of $2,500,000 (the "Outstanding Bond"), hereby <br />certifies in connection with the execution and delivery of the Loan Contract and Promissory <br />Note, dated August 7, 1995 (the "Contract"), by and between the State of Colorado for the <br />use and benefit of the Department of Natural Resources, Colorado Water conseIVation <br />Board, the City and the Enterprise in the principal amount of $5,500,000, that: <br /> <br />1. The undersigned is an independent firm of certified public accountants. <br /> <br />2. The revenues of the System (as defined in the Loan Agreement), exclusive of <br />connection fees, after payment of all expenses of operating and maintaining <br />the System, for the 12 consecutive month period ended August 1, 1995, <br />increased to reflect the revenues that would have been received by the City <br />ifthe adjustment in rates made by Resolution of the City adopted on June 6, <br />1995, effective August 1, 1995, had been in effect throughout said period, <br />would be $527,792.00. <br /> <br />3. The combined maximum annual debt seIVice requirements of (a) the <br />Outstanding Bond, (b) all outstanding obligations of the City or the <br />Enterprise having a lien on the Pledged Property (as defined in the Loan <br />Agreement) on a parity with or senior to the lien thereon of the Outstanding <br />Bond, and (c) the Contract, are $491,060.51. <br /> <br />IN WITNESS WHEREOF, the undersigned has hereunto set his hand this 10th day <br />of August, 1995. <br /> <br />ANDERSON, LEE & COMPANY <br /> <br />~.1A't~ <br /> <br />by Michael S. Lee, Partner <br /> <br />American Institute of Certified Public Accountants. Colorado Society of Certified Public Accountants <br />