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<br />Bernard Lyon::'_M~addis & Kahn flEe <br /> <br />A Professional Corporation ~ Attorneys and Counselors EIVED <br /> <br />tvuv 3 0 2005 <br /> <br />C'.nc::.Iof"ado W. <br />-""I6eTVatJon ~ <br /> <br />November 29, 2005 <br /> <br />Colorado Water Conservation Board <br />Department of Natural Resources <br />Attn: Chad Henderson, Water Supply Planning <br />and Finance Section <br />1580 Logan St., Ste 750 <br />Denver, CO 80203 <br /> <br />VIA EMAIL: Chad.Henderson@state.co.us <br />ORIGINAL VIA REGULAR MAIL <br /> <br />Re: Highland Ditch Company- Colorado Water Conservation Board Loan Contract C150X <br /> <br />This firm represents the Highland Ditch Company ("the Company"). I am providing this letter as the <br />attorney for the Company to meet the requirements of paragraph 7 of the above-referenced Colorado <br />Water Conservation Board ("CWCB") loan contract. Based upon my review of the Company's <br />records, articles or incorporation, by-laws and applicable statutes, it is my opinion that <br /> <br />1. The above-referenced contract has been duly signed and executed by officers of the Company <br />who are duly elected or apPOinted to their positions. Those officers are authorized to execute the <br />loan contract and to bind the Company in this transaction. <br /> <br />2. The resolutions of the Company authorizing the execution and delivery of the contract were duly <br />adopted by the Company's board of directors and stockholders. <br /> <br />3. There are no provisions in the Company's records, articles of incorporation, by-laws or any state <br />or local law that prevent this contract from binding the Company. <br /> <br />4. The loan contact will be valid and binding against the Company if entered into by the CWCB. <br /> <br />Sincerely yours, <br /> <br />JJK:mdd <br /> <br />Enclosure <br /> <br />cc: Highland Ditch Company Board of Directors (wjo enclosure) <br /> <br />Jill Baty (wjenclosure) <br />f:\clienls\h\highIVesolution\20051109 attorney opinion letter.doc <br /> <br /> <br />5 I 5 Kimbark Street . Second Floor . P.O. Box 978 . Longmont, CO 80502-0978 <br />Phone: 303-776-9900 . Fax: 303-413-1003 . www.blglaw.com <br />