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FISCHER, BROWN, BARTLETT & GUNN, PC <br /> WARD H.FISCHER(1929-1996) <br /> WILLIAM R.FISCHER rWILLIAM H.BROWN(Of Counsel) <br /> MARGARET A.(Meg)BROWN W WILLIAM C.GUNN (Of Counsel) <br /> DANIEL K.BROWN <br /> BRENT A.BARTLETT ATTORNEYS AT LAW Phone:970.407.9000 <br /> LISA A.LARSEN Fax:970.407.1055 <br /> SARA J.L.IRBY 1319 East Prospect Road E-mail:fbg@fbgpc.com <br /> DONALD E.FRICK Fort Collins,CO 80525 Website:www.fbbglaw.com <br /> June 24,2016 <br /> Colorado Water Conservation Board <br /> 1313 Sherman Street, Room 721 <br /> Denver, Colorado 80203 <br /> Re: Authority of the Julesburg Irrigation District to enter into Loan Contract(CMS 90665/CORE <br /> CT2017-904)with the Colorado Water Conservation Board <br /> To Whom It May Concern: <br /> This opinion is being delivered to you pursuant to Paragraph B.7 of the Loan Contract <br /> (CMS 90665/CORE CT2017-904) between the Julesburg Irrigation District("Borrower")and <br /> the Colorado Water Conservation Board("CWCB"). I have reviewed Borrower's governing <br /> statutes, organizational documents, and Borrower's Resolution of the Board of Directors <br /> approving the Loan Contract. Based upon the representations of the Borrower and the <br /> documents provided as described above, I am of the opinion that: <br /> 1. The Loan Contract has been duly executed by officers of the Borrower who are duly <br /> elected or appointed and are authorized to execute the contract and to bind the Borrower; <br /> 2. The Resolution of the Borrower authorizing the execution and delivery of the Loan <br /> Contract show that the board duly authorized the execution and delivery of the Loan <br /> Contract by the Borrower; <br /> 3. It is my opinion that there are no provisions in the Borrower's governing documents or <br /> any state or local law that prevent this Loan Contract from binding the Borrower and that <br /> the contract will be valid and binding against the Borrower if entered into by the CWCB. <br /> Accordingly, it is my opinion that Borrower has adequate authority to enter into the Loan <br /> Contract and related documents. <br /> Sincerely, <br /> Daniel K. Brown, Esq. <br />