Laserfiche WebLink
Colorado Water Conservation Board <br /> March 28, 2016 <br /> Page 2 <br /> Company was authorized to enter into a loan agreement with the CWCB for the loan, to <br /> collect assessments, and to make certain pledges to secure payment of the loan. <br /> 3. On March 1, 2016, at a Board of Directors meeting held at the Company's offices <br /> at 4309 State Highway 66, Longmont, CO 80504, the Board of Directors passed a <br /> Resolution that authorized the President and the Secretary of the Company to take all <br /> actions and execute any documents necessary to consummate and implement the loan <br /> with the CWCB. <br /> 4. The Board of Directors of the Company,by its President and Secretary, are duly <br /> authorized to enter into the loan contract with the CWCB and bind the Company <br /> according to the terms of the loan contract. <br /> 5. There are no provisions in the Company's articles of incorporation,by-laws, state <br /> or local laws, or other reviewed documents which would prohibit the action of the <br /> Company to enter into the loan contract with the CWCB. <br /> 6. Upon execution by the duly authorized officer or directors of the Company, the <br /> loan contract#CT2016-2794 CMS#86938 with the CWCB will be valid,binding and <br /> enforceable against the Company. <br /> We have assumed the genuineness of all signatures and documents submitted as <br /> originals, that all copies submitted to us conform to the originals, that persons who <br /> have executed documents have the legal capacity to do so, and as to documents <br /> executed by entities other than the Company, the authority of such other entities to <br /> execute the documents. In addition, this opinion is rendered on the basis of the laws of <br /> the State of Colorado as enacted and construed on the date hereof. We assume no <br /> obligation to update, revise, or supplement this opinion to reflect any facts or <br /> circumstances that may hereafter come to our attention or changes in law that may <br /> hereafter occur. We express no opinion as to any matter not set forth in the numbered <br /> paragraphs herein. <br /> This opinion may be relied upon by the CWCB in approving the loan with the <br /> Company and for this purpose only. <br /> S:\Client\Mclntosh\3-25-16 Opinion letter to CWCB Loan Contract.docx <br />