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<br />. . <br />WEISS, VAN SCOYK & COE, LLP' - <br /> <br />ATTORNEYS AT LAW <br />SUITE 210, FIRST FINANCIAL CENTER <br />2155 RESOEtT DRIVE <br />P.O. BOX 880550 <br />STEAMBOAT SPRINGS, COWRADO 80488 <br /> <br />ROBERT G. WEISS <br />WARD L VAN SCOYK <br />JOHN C. COE <br /> <br />TELEPHONE: (970) 879-6053 <br />TELECOPIER: (970) 8J9....6058 <br /> <br />July 18, 1997 <br /> <br />Colorado Water Conservaion Board <br />1313 Sherman Street, Suite 721 <br />Denver, CO 80203 <br /> <br />Attn: Construction Fund Section <br /> <br />Re: Loan Contract Between The Colorado Water Conservation <br />Board ('Board") and The Upper Yampa Water Conservancy <br />District ("District") Dated The 17th Day Of July, 1997 <br />In The Amount Of Two Million Dollars ('Loan Contract") <br /> <br />Dear Sirs and Madams: <br /> <br />We have acted as counsel for the District in connection with the above Loan Contract. <br /> <br />Subject to the limitations and qualifications expressed below, we are of the opinion that: <br /> <br />1. The person executing the Loan Contract on behalf of the District was duly elected <br />or appointed and has authority to sign such document on behalf of the District and <br />to bind the District. <br /> <br />2. The Board of Directors of the District have validly adopted a resolution approving <br />the Loan Contract. <br /> <br />3. There are no provisions in the Decree creating the District entered in Civil Action <br />No. 3815, in the District Court in and for the County of Routt, State of Colorado, the <br />Bylaws of the District or any state or local law that prevent the Loan Contract from <br />binding the District. <br /> <br />4. The Loan Contract will be valid and binding against the District if entered into by the <br />State of Colorado. <br /> <br />The opinions set forth above are qualified as stated therein and are further qualified as <br />follows: <br />