CT2016-2055 Attorney Opinion Letter

• Contract/PO #: CT2016-2055
• Contractor Name: Centennial Water and Sanitation District
• Contract Type: Loan
• Loan Projects - Doc Type: Contract Documents

EDWARD J. WALSH, ESQ.
ATTORNEY AND COUNSELOR
600 17th STREET
SUITE 2800 SOUTH
DENVER,COLORADO 80202
TELEPHONE [phone]
EMAIL edwardwalsh68 @gmail.com
October 15, 2015
Centennial Water and Sanitation District Colorado Water Conservation Board
62 W. Plaza Drive Attn: Finance Section
Highlands Ranch, CO 80129 1313 Sherman Street, Room 718
Denver, CO 80203
RE: Centennial Water and Sanitation District
Loan Contract and Promissory Note with the Department of Natural Resources,
Colorado Water Conservation Board in the principal amount of
$28,527,450 for Construction (72445/C150405B)
Ladies and Gentlemen:
I am bond counsel to Centennial Water and Sanitation District, Douglas County,
Colorado (the "District"), and have represented the District in connection with the above-
referenced Loan Contract and Promissory Note between the District and the Department of
Natural Resources, Colorado Water Conservation Board ("CWCB") (the "Loan Contract"). In
connection therewith I have examined originals or copies, certified or otherwise, identified to my
satisfaction, of Resolution 14-145 of the Board of Directors of the District adopted on September
29, 2014 ("Resolution 14-145") as supplemented by Resolution 15-141 of the Board of Directors
of the District adopted on October 6, 2015 (collectively, the "Loan Resolution). The Loan
Resolution authorized and approved the Loan Contract, Promissory Note, Security Agreement,
and related documents (the "District Documents"). I have also made such other investigations of
fact and review of laws as I deemed necessary in the circumstances, including the provisions of
Article X, Section 20 of the Colorado Constitution ("Section 20"). At an election held in the
District on the 3rd day of November, 1992, in accordance with law and pursuant to due notice,
the registered electors did on Question No. 4, carry in the affirmative by a majority of ballots
cast, the question of authorizing the District to create any multiple-fiscal year obligation debt or
other financial obligation whatsoever, including revenue bonds without an adequate present cash
reserve pledged irrevocably or held for payment thereof in future years.
Based upon the foregoing, I am of the opinion that:
1. The District is duly organized and existing as a water and sanitation district under
the laws of the State of Colorado and is a quasi-municipal corporation and a political subdivision
of the State of Colorado having power and authority to execute, deliver, and perform its
obligations under the District Documents.