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K U T A K ROCK LLP ATLANTA <br /> CHICAGO <br /> SUITE 3000 FAYETTEVILLE <br /> IRVINE <br /> 1801 CALIFORNIA STREET KANSAS CITY <br /> DENVER, COLORADO 80202-2626 LITTLE ROCK <br /> LOS ANGELES <br /> MINNEAPOLIS <br /> 303-297-2400 <br /> OKLAHOMA CITY <br /> FACSIMILE 303-292-7799 OMAHA <br /> PHILADELPHIA <br /> www.kutakrock.com RICHMOND <br /> ROGERS <br /> SCOTTSDALE <br /> p SPOKANE <br /> January 24, 2018 WASHINGTON, DC <br /> WICHITA <br /> Colorado Water Conservation Board <br /> Department of Natural Resources <br /> 1313 Sherman Street, Room 721 <br /> Denver, Colorado 80203 <br /> Re: Loan Contract Number: CT2018-2028 for Left Hand Water District <br /> To Whom It May Concern: <br /> We have been engaged by the Board of Directors (the "Board") the Left Hand Water <br /> District, in Boulder, Broomfield and Weld Counties, Colorado (the "District") for the sole <br /> purpose providing the bond counsel opinion required by the State of Colorado Department of <br /> Natural Resources Water Conservation Board ("CWCB") in Section 13 of that certain Loan <br /> Contract Number: CT2018-2028 (the"Loan Contract"). <br /> The execution by the District of the Loan Contract, including the documents attached <br /> thereto, was approved pursuant to authorizing Resolution passed and adopted on by the District <br /> Board on December 14, 2017 (the "Loan Resolution" and, collectively with the Loan Contract, <br /> the"Loan Documents"). <br /> We have examined the constitution and the laws of the State of Colorado (the "State"), <br /> and such certified proceedings, certificates, documents, opinions and other papers as we deem <br /> necessary to render this opinion. As to questions of fact material to our opinion, we have relied <br /> upon the certified proceedings and other certifications of public officials furnished to us without <br /> undertaking to verify the same by independent investigation. We have assumed the due <br /> authorization, execution and delivery of the Loan Contract by, and the enforceability of the Loan <br /> Contract against,the CWCB. <br /> Based upon the foregoing, we are of the opinion, under existing law and as of the date <br /> hereof,that: <br /> (a) The Loan Resolution authorizing the execution and delivery of the Loan <br /> Contract was duly adopted by the Board. <br /> (b) The Loan Documents have been duly authorized, executed and delivered <br /> by authorized officers of the District; and, assuming in the case of the Loan Contract, that <br /> the CWCB has all the requisite power and authority to authorize, execute and deliver, and <br /> 4812-2837-9480.1 <br />