Laserfiche WebLink
<br />. <br /> <br />. <br /> <br />Frank M. Akers <br />September 18, 1990 <br />Page Four <br /> <br />general powers of Board of Directors as set forth in C.R.S. 37-45- <br />118. <br /> <br />In addition, the District's obligation to pay the sum <br />specified in the Contract is contingent upon the District's <br />construction of the water project within the time period specified <br />in the Contract. Contingent obligations are not debts within the <br />meaning of Article XI, section 6 of the Constitution. Gude v. ci tv <br />of Lakewood, 636 P.2d 691 (Colo., 1981). <br /> <br />4. To the best of our knowledge, there are no provisions in <br />the Decree pursuant to which the District was organized (a copy of <br />which is enclosed), the District's Bylaws, the statutes of the <br />State of Colorado, or any local laws which would prevent the <br />Contract from binding the District. <br /> <br />5. It is our opinion that the Contract will be valid and <br />binding against the District if it is entered into by the State. <br /> <br />We hope that this opinion letter is satisfactory for your <br />purposes. If anything further is needed from the District or from <br />us, please do not hesitate to contact either Mr. Aubert or us. We <br />would appreciate receiving a fully executed copy of the Contract <br />once it has been executed by the state. <br /> <br />Very truly yours, <br /> <br />WILLIAMS, TURNER & HOLMES, P.C. <br /> <br />/)11~( U/4C4~h""~lvk <br /> <br />Mark A. Hermundstad <br /> <br />MAH/sr <br />Enclosures <br /> <br />xc: Lawrence Aubert <br />