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BUTLER SNOW <br /> January 12, 2016 <br /> Colorado Water Conservation Board <br /> Denver, Colorado 80203 <br /> Parkville Water District <br /> Parkville Water District <br /> Lake County, Colorado <br /> 2015 Loan Contract with the <br /> Colorado Water Conservation Board <br /> Ladies and Gentlemen: <br /> We have acted as bond counsel to the Parkville Water District, Lake County, <br /> Colorado (the "District") in connection with the District's authorization, execution and <br /> delivery to the Colorado Water Conservation Board ("CWCB") of a loan contract (the "Loan <br /> Contract"), security agreement (the "Security Agreement"), and promissory note (the "Note;" <br /> and, together with the Loan Contract, and the Security Agreement, collectively the "Loan <br /> Documents"), which Loan Documents were authorized by a resolution adopted by the Board <br /> of Directors of the District on November 12, 2015, and pursuant to which the CWCB will <br /> loan the District aggregate amount of not to exceed $181,800. <br /> Regarding questions of fact material to our opinions, we have relied upon the <br /> District's certified proceedings and other representations and certifications of public officials <br /> and others furnished to us without undertaking to verify the same by independent <br /> investigation. <br /> Based upon such examination, it is our opinion as bond counsel that: <br /> 1. The District has full legal right and authority to execute the Loan <br /> Documents and to observe and perform its duties, covenants, obligations and agreements <br /> thereunder. <br /> 2. The District has pledged the Pledged Revenue for the punctual payment <br /> of the principal of and interest on the Loans and all other amounts due under the Loan <br /> Documents according to their respective terms, and the Loan Contracts create a valid lien on <br /> such Pledged Revenue. No filings or recordings are required under the Colorado Uniform <br /> Commercial Code in order to create a lien on the Pledged Revenue, and all actions have been <br /> taken as required by Section 11-57-208, Colorado Revised Statutes. <br /> 3. The Loan Documents have been duly authorized, executed and <br /> delivered by authorized officers of the District; and, assuming in the case of the Loan <br /> T 720.330.2300 1801 California Street <br /> F 720.330.2301 Suite 5100 <br /> www.butlersnow.com Denver,CO 80202 <br /> BUTLER SNOW LLP <br />