Laserfiche WebLink
<br />L ""( <br /> <br />"' <br /> <br />PA YID W. ROBBINS <br />ROBERT F. HILL <br />DENNIS M. MONTGOMERY <br />RONALD L. WILCOX <br />JOHN H. BY ANS <br />MARIO. WAGNER <br />JOHNF. WAlSH <br />JENNIFER H. HUNT <br />A VI S. ROCKLIN <br />INGRID C. BARRIER <br /> <br />HILL & ROBBINS, P.C. <br />A'ITORNEYS AT LAW <br />100 BLAKE STREET BUILDING <br />1441 EIGHTEENTI:i STREET <br />DENVER, COLORADO 80202-1256 <br /> <br />FAX <br />303 296-2388 <br /> <br />TELEPHONE <br />303 296-8100 <br /> <br />MARKJ. WAGNER <br />markwagner@billandrobbins.com <br /> <br />E-MAIL <br />webmasler@hillandrobbins.com <br /> <br />WEBSITE <br />www.hiIlandrobbins.com <br /> <br />January 26, 2006 <br /> <br />Mr. Mike Cook, <br />President <br />Bank of Colorado <br />PO Box 525 <br />. Brush, CO 80723 <br /> <br />RE: Riverside Irrigation District <br /> <br />Dear Mr. Cook: <br /> <br />I am the attorney for the Riverside Irrigation District ("Riverside"). This letter follows <br />my conversation this afternoon with Don Chapman and is intended to respond to the two issues <br />that you raised regarding Riverside Irrigation District's loan application to the Bank of Colorado <br />("Bank"). The purpose ofthe loan is to fund water rights purchases by and for Riverside. <br /> <br />The first issue is whether Riverside Irrigation District is complying with the statutory <br />prerequisites for obtaining the loan. Riverside is a Colorado irrigation district formed pursuant <br />to the Irrigation District Law of 1905, C.RS. ~~37-41-101 et seq. One otthe provisions of the <br />Irrigation District Law of 1905 requires that any contract in excess of seventy- five thousand <br />dollars ($75,000) must be authorized and ratified at an election in the manner provided for the <br />issuance of bonds. C.RS. ~37-41-113(4). In my opinion, the loan that Riverside is applying for <br />amounts to a "contract in excess of seventy-five thousand dollars." <br /> <br />The requirements for the district election are set forth in C.RS. ~37-41-117 (2) and are <br />substantially as follows: a notice of the election must be given by posting notices in three public <br />places in each election precinct in the district for at least twenty days and also by publication of <br />such notice in a newspaper published in the county where the office of the board of directors of <br />the district is required to be kept (Fort Morgan), once a week for at least three successive weeks. <br />The notice is required to specify the time of holding the election and the dollar amount of the <br />contract to be entered into. In addition, Riverside has gone above and beyond the statutory <br />requirements by mailing a notice of the election to every owner of District acres. The statute <br />