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<br />12/14/95 .16:25 <br /> <br />,.A:JanlIIVI,.....,~Calolllllt <br /> <br />_w._ <br />s.tndlc.Hdm.s <br />J. D. _gill" <br />_O.f'I_ <br />DMlJ.T"""" <br />M.~A._j' <br />suwn M. COde <br />lkrl<E._ <br />_11._ <br /> <br />'NM~"~ <br /> <br />OOURTHOUSE PlACE BUIlDING <br />2'llON.BItIS...t-P08o,o;33(I <br />lllm_Colo11ll.I'''''-1n38 <br />_'11l'l1Z626l <br />Faf70t241'~ <br /> <br />MOAll omcE <br />94 wi GmllI A.-.n~ <br />............l32m<l <br />PIlantI!01J25H3Ell <br /> <br />'a' <br /> <br />-~, <br />, <br /> <br />~OOl/002 <br /> <br />WIL~IAMS, TURNER & HOLMES, P.C. <br />ATTORNEYS AT lAW <br /> <br />dOC <br />2pa q/l.n ..l P <br /> <br />December 14, 1995 <br /> <br />Linda Bassi <br />Office of the Attorney Gencral <br /> <br />VIA FAX 303-866-3558 <br /> <br />Re: CWCB Contract With Ute Water Conservancy District <br />Contract No. C153670 <br /> <br />Dear Linda: <br /> <br />This will confirm our telephone conversation of this afternoon. As you are <br />aware, we represent Ute Water ConSClVancy District and its enterprise, The Ute <br />Willer Activity Enterprise. Ute Water and its Enterprise have several contracts with <br />CWCB, including the above referenced contract. ParagI1Iph 13.a. of the above <br />referenced contract contains a pledge of revenues by Ute Water's Enterprise to <br />CWCB in an amount sufficient to pay the CWCB contract, subject only to the pledge <br />ofrunds for repayment oCUte Waler's 1987 Water Revenue Refunding Bonds. <br /> <br />Ute Water's 1987 Water Revenue Refunding Bonds were issued in 1981 in <br />an aggregate principallllDOWll ofSI6,180,OOO. Ute Water and its Enterprise are now <br />proposing to advance refimd a portion of the 1981 bonds. The portion to be advance <br />refimded equals $5,740,000. The refunding is being done to take advantage oflower <br />interest rates, and no additional obligations are being created as a result of the <br />advance refunding. The 1995 bonds will be secured by revenues of the District and <br />will have a first lien on revenues of the District on a parity equal to the 1981 bonds_ <br />Bond counsel for the issuance of the 1995 bonds, Fred Marienthal of Kutak Rock, <br />will have a copy of the preliminary Official Statement delivered to you this afternoon. <br />That prcliminaly Official Statement will eqllain the refunding plan for the 1995 bonds. <br /> <br />Prior to issuing the 1995 bonds, we want to make sure that the issuance of <br />those bonds does not violate the terms of the above referenced contract between <br />CWCB and Ute Wllter and its Enterprise, or any of the other existing contracts <br />between Ute Water and CWCB. We believe that the 1995 bond issuance will not <br />conflict with, result in a breach of. or constitute a default under the above referenced <br />contract with CWCB, or any of the other contracts Ute Water has with CWCB. <br /> <br />Ute Water and its Enterprise intend to issue the bonds on Wednesday, <br />December 20, 1995. I would appreciate it if you could eonfinn to me, in writing. that <br />the 1995 bond issuance will not conflict with, result in a breach o( or constitute a <br />default under any of the contracts between Ute Water, its Enterprise and CWCB. <br /> <br />ATTACHMENT 1 <br />