Kentucky Public Service Commission

Final Order Entered: 1. Ohio County is authorized to issue the proposed 2015 Refunding Bonds in the principal amount not to exceed $1,061,500 or the purpose of refunding the 2003 Revenue Bonds, but only under such terms and conditions as will produce both positive gross savings and net present value savings. 2. If the actual terms and conditions of the 2015 Refunding Bonds differ from those set forth in its application, Ohio County shall, within 30 days of issuing the bonds, file with the Commission amortization schedules and work papers showing the actual net present value savings that will result from the refinancing. 3. Within 30 days of the sale and delivery of the 2015 Refunding Bonds, Ohio County shall file a copy of the Official Statement of the 2015 Refunding Bonds bond resolution, any documents referenced in the Bond Resolution that Ohio County has not previously filed with the Commission, and any approval from the State Local Debt Officer. 4. The proceeds from the proposed bond issuance shall be used only for the lawful purposes specified in Ohio County's application. 5. Any documents filed pursuant to ordering paragraphs 2 and 3 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 agency thereof as to the securities authorized herein.

No deficiency letter

Acknowledge Receipt of Filing

APPLICATION OF OHIO COUNTY WATER DISTRICT TO ISSUE SECURITIES IN THE APPROXIMATE PRINCIPAL AMOUNT OF $965,000 FOR THE PURPOSE OF REFUNDING CERTAIN OUTSTANDING REVENUE BONDS OF THE DISTRICT PURSUANT TO THE PROVISIONS OF KRS 278.300 AND 807 KAR 5:001