CT2019-2792 AOL

• Contract/PO #: CT2019-2792
• Contractor Name: Arabian Acres Metropolitan District
• Contract Type: Loan
• Loan Projects - Doc Type: Contract Documents

Law Offices of 660 Southpontte Court
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Jason W. Downie
[e-mail]
May 14, 2019
Colorado Water Conservation Board
Finance Section
1313 Sherman Street, Room 718
Denver, CO 80203
Re: Authority of Arabian Acres Metropolitan District to enter into Lon Contract (CMS:
117476; CT2019-2792)with the Colorado Water Conservation Board
To Whom It May Concern:
This opinion is being delivered to you pursuant to Section 10 of the Loan Contract (CMS: 117476;
CT2019-2792) between Arabian Acres Metropolitan District (the "District') and the Colorado
Water Conservation Board (the "CWCB"). I have acted as bond counsel for the District and
have reviewed the Loan Contract, as well as the proceedings of the District relating to the
approval of the Loan Contract and the execution, issuance and delivery thereof on behalf of the
District. Based upon the foregoing and the representations of the District, I am of the opinion
that:
1. The Loan Contract has been duly executed by officers of the District who were duly
elected or appointed and are authorized to execute the Loan Contract and to bind the
District; and
2. The Resolutions of the District authorizing the execution and delivery of the Loan
Contract were duly adopted by the governing body of the District; and
3. There are no provisions in the District's articles of incorporation or bylaws or any state or
local law that prevent the Loan Contract from binding the District; and
4. The Loan Contract will be valid and binding against the District if entered into by the
CWCB subject to any typical limitations related to bankruptcy police power and
creditor's rights generally; and
5. The District has formed and operates a water activity enterprise pursuant to the provisions of
C.R.S. § 37-45.1-101, et seq. and is a government owned business authorized to issue its
own revenue bonds and receiving fewer than 10% of annual revenue in grants from all
Colorado state and local governments combined within the meaning of Article X, Section 20
of the Colorado Constitution.
Accordingly, it is my opinion that the District has adequate authority to enter into the Loan Contract
through the resolution adopted by the District and as is evidenced in the District's minutes.
Sincerely,
SUSEMIHL, MCDERMOTT & DOWNIE, P.C.
Jason W. Downie
cc: Client