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Colorado Water Conservation Board <br /> Parkville Water District <br /> January 12, 2016 <br /> Page 3 <br /> In connection with the execution and delivery of the Loan Documents, we have <br /> represented the District which is our sole client in this transaction. Delivery of this letter to <br /> you does not establish an attorney-client relationship between the addressees hereof and this <br /> firm. <br /> This opinion letter is furnished to you solely for your information and benefit <br /> in connection with the initial execution and delivery of the Loan Documents and may not be <br /> relied upon by you for any other purpose or relied upon by any other person without the prior <br /> written consent of this firm. <br /> Respectfully submitted, <br /> S'n,/J')A) ZiT <br /> BUTLER SNOW LLP <br />