CT2016-2515 Attorney Opinion Letter

• Contract/PO #: CT2016-2515
• Contractor Name: Lookout Mountain Water District
• Contract Type: Loan
• Loan Projects - Doc Type: Contract Documents

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LARRY W.BERKOWITZ Spencer Fane
DIRI?(-:1.DIAL:303.839.3991
[e-mail]
File No.5024282-0001
January 21, 2016
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 Lookout Mountain Water District acting by and through its Water Activity
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: CT2016-2515 by and between the CWCB and the
Borrower, executed by the Borrower on January 19, 2016;
b. Resolution No.: 1/16-2 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. 1/16-2 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
Denver 1299099.1
1700 LINCOLN STREET, SUITE 2000, DENVER, CO 80203-4554 I 303.839.3800 I FAX [phone] I spencerfane.com