Kentucky Public Service Commission

Final Order Entered: 1. Magoffin District is authorized to enter into an agreement with KRWFC to borrow no more than $1,853,500 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 with KRWFC differ from those set forth in its application, Magoffin District 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. 3. Within 30 days of executing the proposed agreement, Magoffin District shall file a copy of the executed Assistance Agreement and any documents referenced in the executed Assistance Agreement that Magoffin District has not previously filed with the Commission. 4. The proceeds from the Assistance Agreement shall be used only for the lawful purposes specified in Magoffin District'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.

Acknowledge Receipt of Filing

APPLICATION OF MAGOFFIN COUNTY WATER DISTRICT TO ISSUE SECURITIES IN THE APPROXIMATE PRINCIPAL AMOUNT OF $1,685, 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