Kentucky Public Service Commission

Final Order Entered: 1 . Gallatin County is authorized to enter into an agreement with KRWFC 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. 2. If the actual terms and conditions of the agreement differ from those set forth in its application, Gallatin County shall, within 30 days of executing the loan agreement, file with the Commission amortization schedules and workpapers showing the actual gross savings and net present value savings that resulted from the refinancing of the Outstanding Revenue Bonds. 3. Gallatin County shall comply with all matters set out in finding paragraphs 3 through 5 as if they were individually so ordered. 4. Any documents filed in the future pursuant to finding paragraphs 3 and 4 herein shall reference this case number and shall be retained in the utility's general correspondence file.

No deficiency letter

Acknowledge Receipt of Filing

APPLICATION OF GALLATIN COUNTY WATER DISTRICT TO ISSUE SECURITIES IN THE APPROXIMATE PRINCIPAL AMOUNT OF $1,175,000 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