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<br />"'. <br /> <br />) <br /> <br />') <br /> <br />BRISCOE. STANWAY & HARPER, P.c. <br />ATTORNEYS AT LAW <br /> <br />JAMES R. BRISCOE <br />S. GREGG ST ANWAY <br />STEVEN K. HARPER <br /> <br />July 5, 1988 <br /> <br />102 BRIDGE STREET, P. O. BOX 120 <br />HOTCHKISS. COLORADO 81419 <br />(303) 872-3118 <br /> <br />Colorado Water Conservation Board <br />Department of Natural Resources <br />721 State Centennial Building <br />1313 Sherman Street <br />Denver, Co 80203 <br /> <br />RE: Loan to Lone Cabin Ditch and Reservoir Company <br /> <br />Gentlemen: <br /> <br />As attorney for North Fork Water Conservancy District, t~writing <br />this letter in compliance with your requirements letter dated June 2, <br />1988, to provide the following opinions: <br /> <br />1. The signature of George Yolk President, who signed Contract <br />on behalf of North Fork Water Conservancy District, is that of the <br />president (or chairman) duly elected or appointed. <br /> <br />2. George Yolk has the authority to bind North Fork Water <br />Conservancy District and the contract has been validly approved by its <br />governing body (Minutes attached). <br /> <br />3. The governing body (Board of Directors) has the authority to <br />enter into the contract, without the necessity of a vote of its <br />stockholders/residents as such contract comes within the "water supply <br />exception" of the Colroado Constitution, Article XI, Section 1. <br /> <br />4. There are no provisions in the entity's code or charter, or <br />any other state or local law, that prevents the contract from binding <br />the entity. <br /> <br />5. <br />Ditch and <br />State. <br /> <br />The Contact will be valid and binding against the Lone Cabin <br />Reservoir Company, the Contractor, if entered into by the <br /> <br />Yours <br /> <br />truly, <br /> <br /> <br />g:L>s <br /> <br /> <br />S. <br /> <br />SGS/df <br /> <br />BRANCH OFFICE, 229 GRAND AVE. PAONIA. COLORADO 81428 (303) 527-4334 <br />