CT2015-152 Attorney Opinion Letter

• Contract/PO #: CT2015-152
• Contractor Name: Cortez, City of
• Contract Type: Loan
• County: Montezuma
• Loan Projects - Doc Type: Contract Documents

SPENCER FANE
BRITT & BROWNE LLP
Attorneys & Counselors at Law
April 23, 2015
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 City of Cortez, Colorado, acting by and through its City of Cortez Water
Enterprise (the "Enterprise" or "Borrower") which has entered into a Loan Contract (the "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, and 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:
a. The Loan Contract No. CORE: CT2015-152 by and between the CWCB and the
Borrower, executed by the Borrower on April 14, 2015;
b. Resolution No.: WE-2015-2; Series 2015 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:
1. 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
2. Resolution No. WE-2015-2, Series 2015 of the Borrower authorizing the
execution and delivery of the Contract was duly adopted by the governing body of the Borrower;
and
3. There are no provisions in the Colorado Constitution or any other state or local
law that prevent this Contract from binding the Borrower; and
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