C150356 Attorney Opinion Letter

• Contract/PO #: CT2015-015
• Contract/PO #: C150356
• Contractor Name: Bellyache Ridge Metropolitan District
• Contract Type: Loan
• Water District: 37
• County: Eagle
• Loan Projects - Doc Type: Contract Documents

SPENCER FANE
B R I T T & B R O W N E L L P
Attorneys & Counselors at Law
April 10, 2014
State of Colorado
For the use and benefit of the
Department of Natural Resources,
Colorado Water Conservation Board
Gentlemen
We are attorneys admitted to practice in the State of Colorado and have acted as Bond
Counsel for the Bellyache Ridge Metropolitan District, acting by and through its Bellyache
Ridge Water Enterprise ("Borrower") which has entered into a Loan Contract with the State of
Colorado for the use and benefit of the Department of Natural Resources, Colorado Water
Conservation Board ("CWCB"), and have acted as such in connection with the authorization,
execution, delivery by the Borrower of the Loan Contract.
In so acting, we have examined the constitution and laws of the State of Colorado and the
proceedings relating to organization of the Borrower. We have also examined originals, or
copies certified or otherwise identified to our satisfaction of the following:
The Loan Contract No. C150356 by and between the CWCB and the Borrower, executed
by the Borrower on April 8, 2014;
The proceedings of the governing body of the Borrower relating to approval of the Loan
Contract, and the execution, issuance and delivery thereof on behalf of the Borrower.
Based upon the foregoing, we are of the opinion that:
The Contract has been duly executed by officers of the Borrower who are duly elected or
appointed and are authorized to execute the Contract and to bind the Borrower; and
The Resolution of the Borrower authorizing the execution and delivery of the Contract
was duly adopted by the governing body of the Borrower; and
There are no provisions in the Colorado Constitution or any other state or local law that
prevent this Contract from binding the Borrower; and
The Contract will be valid and binding against the Borrower if entered into by the
CWCB; subject, however, to the effect of, and to restrictions and limitations imposed by, or
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