Finance Committee Agenda and Packet 2010 11 15

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The McGrow•H/ll Companies STANDARD & POOR'S April 30, 2010 City Of Louisville 749 Main Street Louisville, CO 80027 Attention: Ms. Sharon Asti - Caranci, Finance Director Re: City of Louisville, Colorado, Sales Tax Refunding Revenue Bonds Dear Ms. Asti - Caranci: One Market Steuart Tower, 15th Floor San Francisco, CA 94105 -1000 tel 415 371-5000 reference no.: 40144591 Standard & Poor's has reviewed the Standard & Poor's underlying rating (SPUR) on the above - referenced obligations. After such review, we have affirmed the "A +" rating and stable outlook. A copy of the rationale supporting the rating and outlook is enclosed. The rating is not investment, financial, or other advice and you should not and cannot rely upon the rating as such. The rating is based on information supplied to us by you or by your agents but does not represent an audit. We undertake no duty of due diligence or independent verification of any information. The assignment of a rating does not create a fiduciary relationship between us and you or between us and other recipients of the rating. We have not consented to and will not consent to being named an "expert" under the applicable securities laws, including without limitation, Section 7 of the Securities Act of 1933. The rating is not a "market rating" nor is it a recommendation to buy, hold, or sell the obligations. This letter constitutes Standard & Poor's permission to you to disseminate the above - assigned rating to interested parties. Standard & Poor's reserves the right to inform its own clients, subscribers, and the public of the rating. Standard & Poor's relies on the issuer /obligor and its counsel, accountants, and other experts for the accuracy and completeness of the information submitted in connection with the rating. To maintain the rating, Standard & Poor's must receive all relevant financial information as soon as such information is available. Placing us on a distribution list for this information would facilitate the process. You must promptly notify us of all material changes in the financial information and the documents. Standard & Poor's may change, suspend, withdraw, or place on CreditWatch the rating as a result of changes in, or unavailability of, such information. Standard & Poor's reserves the right to request additional information if necessary to maintain the rating. 19