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<br />Ground Water Management Subdistrict <br />of the Central Colorado Water Conservancy District <br />Colorado Water Conservation Board <br />October 1, 2003 <br />Page 2 <br /> <br />This opinion is for the benefit of the Ground Water Management Subdistrict of the <br />Central Colorado Water Conservancy District and the Colorado Water Conservation <br />Board, and is limited to the matters numbered (1) and (2) above. <br /> <br />Sincerely, <br /> <br />(~~NCE & OTTENHOFF LLP <br /> <br /> <br /> <br />P. Andrew Jones <br /> <br />P AJ: mt <br />Enclosures <br /> <br />F:\KIM\CCWCD\CWCB LOAN\CCWCD OPINION LETTER 031008.DOC <br />