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<br />. <br /> <br />. <br /> <br />Colorado Water Conservation Board <br />Department of Natural Resources <br />Page 3 <br />April 3, 1992 <br /> <br />authorization, execution and delivery by the parties to the <br />Contract and the other associated documents not expressly covered <br />by this opinion, and we express no opinion on the validity of such <br />documents. <br /> <br />We are only admitted to practice before the Bar of the state <br />of Colorado. We express no opinion as to matters under or <br />involving the laws of any jurisdiction other than the state of <br />Colorado. Our opinion with respect to Colorado law is expressed on <br />the mere assumption that Colorado law is applicable. Our opinion <br />would be modified to the extent that that assumption is incorrect. <br /> <br />Opinions <br /> <br />Based upon the examination described above, taking into <br />account legal considerations that we deem relevant, and subject to <br />the assumptions, limitations and qualifications set forth in this <br />letter, we are of the following opinions: <br /> <br />1. Tracey Kester is the duly elected President of Trinchera <br />Irrigation Company and as such has the authority to sign the <br />Contract on behalf of Trinchera. <br /> <br />2. Bob smith is the duly elected Secretary of Trinchera and <br />as such is the proper person to attest to the signature of the <br />President of Trinchera. <br /> <br />3. The President, Tracey Kester, and the Secretary, Bob <br />smith, of Trinchera have the authority to bind Trinchera to the <br />Contract. <br /> <br />4. The execution of the Contract by Trinchera has been <br />validly approved by the governing Board of Trinchera. <br /> <br />5. The Board of Directors of Trinchera has the authority to <br />enter into a Contract without a vote of the Shareholders of <br />Trinchera since Trinchera is not governed by Article XI of the <br />Colorado Constitution and even if it was the Contract comes within <br />the "water supply exception" of the Colorado Constitution, Article <br />XI, sections 1 and 6. <br /> <br />6. There are no provisions in Trinchera's Articles or Bylaws <br />or any State or local law that prevents the Contract from being <br />binding upon Trinchera. <br />