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4. The Loan Contract, Promissory Note and the related Loan Documents will <br /> be valid and binding against HCWCD if entered into by the CWCB; and <br /> 5. The elections held by HCWCD to obtain voter approval of the Loan and <br /> repayment terms met all requirements of the Colorado Constitution and all <br /> other state and local laws. <br /> #ulY Yours, <br /> James W. Culichia <br /> cc: Huerfano County Water Conservancy District <br /> HCWCD-Loan opinion letter re CWCB Loan C-1 50364 <br /> Page 2 <br />