Kentucky Public Service Commission

Order Entered: Lake Village’s motion to deviate from 807 KAR 5:OOl , Section 11(2)(a), is granted Lake Village’s application is considered filed as of November 5, 201 0. Lake Village is authorized to enter into a loan agreement with Butler County to borrow no more than $1,292,5008 for the purpose of refunding the outstanding indebtedness, but only under such terms and conditions that will produce both positive gross savings and net present value savings. 4. If the actual terms and conditions of the proposed loan differ from those set forth in its application, Lake Village shall, within 30 days of executing the loan agreement, file with the Commission amortization schedules and work papers showing the actual gross savings and net present value savings that will result from the refinancing. 5. Within 30 days of executing the proposed loan agreement, Lake Village shall file with the Commission a statement setting forth the date on which the agreement was entered, the actual interest rates, and the principal amount. 6. The proceeds from the transaction authorized herein shall be used only for the lawful purposes specified in the application. 7. Any documents filed pursuant to ordering paragraphs 3 and 4 of this Order shall reference the number of this case and shall be retained in the utility’s general correspondence file. Nothing contained herein shall be construed as a finding of value for any purpose or as a warranty on the part of the Commonwealth of Kentucky or any agenc

Acknowledge Receipt of Filing

Application of Lake Village Water Association, Inc. to issue securities in the approximate principal amount of $1,175,000 for the purpose of refunding certain outstanding indebtedness of the association pursuant to the provisions of KRS 278.300 and 807 KAR 5:001