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<br />CARLSON. HAMMOND & P ADDOOK, L.L.O. <br />ATTORNEYS AT LAW <br /> <br />MARY MEAD HAMMOND <br />WILLIAM A. PADDOCK <br />LEE H. JOHNSON <br />KARL D. OHLSEN <br />BETH ANN J. PARSONS <br />AMY N. HUFF <br /> <br />1700 LINCOLN STREET, SUITE 3900 <br />DENVER. COLORADO 80203-4539 <br /> <br />JOHN UNDEM CARLSON <br />(1940-1992) <br /> <br />TELEPHONE (303) 861-9000 <br />TELECOPIER (303) 861-9026 <br /> <br />e-mail: chp@chp-Iaw.com <br />website: www.chp.law.com <br /> <br />Sender's Email: <br />mhammond@chp-law.com <br /> <br />October 24, 2006 <br /> <br />Colorado Water Conservation Board <br />13 13 Sherman Street, Room 721 <br />Denver, Colorado 80203 <br />Attn: Vaughn McWilliams, Esq. <br /> <br />Ladies and Gentlemen: <br /> <br />The firm has acted as counsel to the Logan Irrigation District (the "District") in connection <br />with the request of the District for a loan of funds in an amount not to exceed $505,000 for <br />construction of a reservoir spillway at the Prewitt Reservoir, located in Washington and Logan <br />Counties, Colorado (the "Project"). Prewitt Reservoir is owned by the District and by the Iliff <br />Irrigation District and the Morgan-Prewitt Reservoir Company, and is operated on behalf of the <br />owners by the Prewitt Operating Committee. <br /> <br />We have examined the Statutes governing the operations of the District (C.R.S. 937-41- <br />101, et seq" the "Irrigation District Law of 1905," and c.R.S. 937-43-101 et seq. "Irrigation <br />Districts of 1905 and 1921,") the Loan Contract No. C150229, the Promissory Note, and the <br />Security Agreement (Pledge of Revenues)( collectively the "Loan Documents"), documents <br />relating to the District election held on September 5, 2006, and such other certificates and <br />documents relating to the District and the proposed loan (including an Owners Agreement dated <br />October 16, 2006), and made such other examination of applicable law as we have deemed <br />necessary in giving this opinion. <br /> <br />Based upon the foregoing, we are of the opinion that: <br /> <br />(a) The District is a Colorado Irrigation District formed under and governed by the <br />provisions of the Irrigation District Law of 1905 and is authorized to borrow money for its <br />corporate purposes, including the Project. <br /> <br />(b) The Loan Contract has been duly executed by officers of the District who have <br />been duly elected or appointed and are authorized to execute the Loan Documents and bind the <br />District. <br />