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<br />.... --- ~ <br /> <br />. <br /> <br />. <br /> <br />MOSES, WITTEMYER, HARRISON AND WOODRUFF, P. C. <br /> <br />LAW OFFICES <br /> <br />1002 WALNUT STREET, SUITE 300 <br /> <br />DAVID L. HARRISON <br />..JAMES R. MONTGOMERY <br />TIMOTHY..J. BEATON <br />VERONICA A. SPERLING <br /> <br />BOULDER, COLORADO 80302 <br /> <br />TELEPHONE; (303) 443.8782 <br />FAX; (303) 443.8796 <br /> <br />CHARLES N. WOODRUFF <br />(1941-1996> <br /> <br />GILBERT Y. MARCHAND, ..JR. <br />AMELIA S. WHITING <br />KELLY..J. CUSTER <br /> <br />COUNSEL <br />RAPHAEL ..J. MOSES <br />..JOHN W'TTEMYER <br />ROBERT E. L. BEEBE <br />DAVID M. BROWN <br /> <br />ADDRESS CORRESPONDENCE TO; <br />P. O. BOX 1440 <br />BOULDER, CO 80306-1440 <br /> <br />July 17, 1997 <br /> <br />SPECIAL COUNSEL <br />HUNTLEY STONE <br /> <br />Daries C. Lile, P.E., Director <br />Colorado Water Conservation Board <br />1313 Sherman Street, suite 721 <br />Denver, CO 80203 <br /> <br />Re: Lower Arkansas Water Management Association <br />Loan Contract Ro. C1537~~ <br /> <br />Dear Mr. Lile: <br /> <br />As requested by the Attorney General's office, we are <br />providing this opinion letter to complete the process for the <br />Colorado Water Conservation Board's $65,000 loan to the Lower <br />Arkansas Water Management Association ("LAWMA"). This opinion is <br />based on a review of the following documents: (1) LAWMA's bylaws <br />and articles of incorporation; and (2) LAWMA's Resolution of the <br />Board of Directors, dated July 10, 1997. A copy of LAWMA's bylaws <br />and a copy of LAWMA's articles of incorporation have been provided <br />to the CWCB. A copy of the Board's July 10, 1997 resolution is <br />attached. <br /> <br />Based on our review of the documents enumerated above, it is <br />our opinion: <br /> <br />1. That the signature of William GrasmiCk, <br />LAWMA, will make the loan contract valid and binding <br />if entered into by the State. <br /> <br />2. That LAWMA's Board of Directors has the authority to <br />enter into the contract and has approved a resolution authorizing <br />LAWMA to enter into the contract for the loan amount. <br /> <br />President of <br />against LAWMA <br /> <br />3. That there are no provisions in LAWMA' s articles of <br />incorporation or bylaws and we know of no State or local law that <br />prevent this contract from binding LAWMA. <br />