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<br />Maynes. Bradford, Shipps & ShefteI, LLP <br />Attorneys at Law <br /> <br />FRANKE. (SAM) MAYNES <br />THOMAS H. SIDPPS <br />JANICE c. SHEFTEL <br />PATRICIAA. HALLt <br />SAM w. MAYNES <br />JOHN BARLOW SPEAR <br />STEVEN c. BoOS*t <br /> <br />AsSOCIATES: <br /> <br />RECEIVED <br />MAR ? :(. 2004 <br /> <br />LAllANNE A. BREAGY <br />CHRIsTOPHER z. CANTRELL <br />MONTE T. MILLs <br /> <br />BYRONV. BRADFORD (1907-1985) <br />tALSO ADMITfED IN ARIzONA AND NAVAJO NATION <br />*ALso ADMITfED IN CALIFORNIA, NEW MEXICO AND UTAH <br /> <br />Oolo~.do ~V?ter C>:fr1SdrvU:iI.Jl i )..11. ~:: <br /> <br />(970)247-1755 <br />(970)247-8827 - FACSIMILE <br />jsheftel@mbssllp.com <br /> <br />March 19, 2004 <br /> <br />Rod Kuharich, Director <br />Colorado Water Conservation Board <br />1313 Sherman Street, Room 721 <br />Denver CO 80203 <br /> <br />re: Loan Contract No. Cl50153 ("Contract) in the Loan Amount of $598,058 <br />between the Colorado Water Conservation Board ("Board") and the Dolores <br />Water Conservancy District ("District"), acting by and through the District Water <br />Activity Enterprise ("Enterprise"), <br /> <br />Dear Rod: <br /> <br />Maynes, Bradford, Shipps and Sheftel, LLP, represents the District. It is our opinion that: <br /> <br />1. The Contract has been duly executed by officers of the District, acting by and through <br />the Enterprise ("Borrower") who are duly elected or appointed and are authorized to execute the <br />Contract and to bind the Borrower. <br /> <br />2. Resolution Number 04-01 authorizing the execution and delivery of the Contract, was <br />duly adopted by the Enterprise on March 4, 2004 and Resolution Number 04-02 authorizing the <br />execution and delivery ofthe Contract, was duly adopted by the District on March 4, 2004. <br /> <br />3. There are no provisions in the Colorado Constitution or any other state or local law <br />that prevent the Contract from binding the Borrower. <br /> <br />4. The Contract will be valid and binding against the Borrower if the Contract is entered <br />into by the Board. <br /> <br />Sincerely, <br /> <br />MAYNES, BRADFORD, SHIPPS & SHEFTEL, LLP <br /> <br />'~f.N--^-'L-C--~~~j0--.._~.JJ"--'~ <br /> <br />Janice C. Sheftel <br /> <br />JCS:sps <br />cc: Board of Directors, Dolores Water Conservancy District <br /> <br />WEST Bun.DING - 835 EAST SECOND AVENUE, SUITE 123 <br />POST OFFICE BOX 2717 <br />DURANGO, COLORADO 81302-2717 <br />