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<br />. . <br />SCOTT R. FONCANNON <br /> <br />(!!?38tJ3 <br /> <br />AnO.NEY AT LA.W <br />512 NORTH MAIN STREET <br />P.O. BOX '71 <br />ROCKY FORD, COLORADO 81067 <br />TELEPHONt; (71?) 2:>4.7443 . FAX: (719) 2:14.71'5 <br /> <br />February 23, 1998 <br /> <br />SLate of colorado <br />Water Concorv~tion Board <br />uepartment of Natural Resources <br />721 centennial Iluilulng <br />1313 Sherman Streee <br />Denver, Colorado RO'-03 <br /> <br />Re: Arkancac Croundwnter Users AssociaLlon <br /> <br />To Whom it May Concern: <br /> <br />I have been engaged bY Arkansas C,roundwater Users hE:&oob.t:lon <br />(1\.GU1\.) to review certain loan documenL5 with the State of Colorlloo, <br />and to [lrnvide an opinion as to cortain mntters as statau herein. ' <br /> <br />I have reviewed the Loan CUIILract ana attached loan onrollmen1;s, <br />thA Art.i.eles of Incorporation and Bylaws of AGUA. It is .my <br />unu",c.Lanaing t.hat. tne Vice PresidAnt: of AGUA, Clifford C. Walter, <br />will cisn the lonn documents on 1.>el1..1' of AGUA, as the PreSic1p.nt. <br />Mr. C. R. EvanI':. has a potential confliot. .,. <br /> <br />It is my opinion thnt the vice-presiu"'l1t was duly elected :or <br />appointed and hA~ authority to sign suoh documents on behalf of <br />AGOA, ana l-u bina AGUA to the obi igAtions contained in euch <br />documentD. :' <br /> <br />In my uplnion. members and the Boarc1 of Diroectors have validly <br />adoptCld resolutionc approvin'] the loan "ulll-ract and "that. there 'j" <br />no provision in thA Artiel.." of Incorporation or Dylaws, 01" allY <br />Dtnte or local laws which prevent this contract. from being binding <br />upon AGUA. It is furthcr my opinion that Ll1i::; contract will I'll< <br />valid and binding again"t AGUA if ClntQred into by the state. <br /> <br />This is an opinion rendered on behalf uf and at tne <br />.AGUA, based upon infoMn"t.i.on availablCl to me. It ie <br />interpreted as a warranty Vi' guarantee to any part:y. <br /> <br />request of <br />not to 1.>", <br /> <br />very._~r.llly yours, <br />( , <br />~~ . rf'J_____ <br />(C'lJ~4' <br />Scott- R. FO/lCClnnOn <br /> <br />" <br />~! <br /> <br />, <br /> <br />~ <br />~\ <br /> <br />SRF: jg <br /> <br />.. <br /> <br />;1 <br />