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<br />N. C. Ioannides <br />Page Two <br />September 24, 1987 <br /> <br />3. The Board of Directors is specifically authorized to <br />enter into contracts and agreements affecting the affairs of the <br />special district and to borrow money and incur indebtedness under <br />Section 32-1-1001(1), C.R.S. The District may enter into such <br />agreements without prior authorization of the electors of the <br />District. <br /> <br />4. There are no provisions in state law, local law or the <br />District's rules and regulations which would prevent this contract <br />from binding the District. <br /> <br />5. The contract will be valid and binding against the <br />District upon proper execution by the State of Colorado. <br /> <br />If you have any additional concerns about the authority of <br />the Cucharas Sanitation and Water District to enter into this <br />agreement, please do not hesitate to give me a call. <br /> <br /> <br />your~; <br />/ <br /> <br />RJS/sb <br />encl <br />