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<br />..! <br /> <br />. <br /> <br />. <br /> <br />. <br /> <br />Donald C. Peach, Town Manager <br />Page 2 <br />April 26, 1994 <br /> <br />guidance as to the scope of an enterprise under the TABOR <br />Amendment. The potential for litigation over this issue <br />should be considered significant, given the broad <br />authorization of taxpayer enforcement actions by the <br />TABOR Amendment. In addition, the validity of Senate <br />Bill 93-130 has been questioned as being inconsistent <br />with the TABOR Amendment. There exists a potential that <br />Senate Bill 93-130 will be challenged in the courts and <br />there also is a potential that it may be found invalid by <br />the Colorado courts. If Senate Bill 93-130 is found to <br />be invalid, the Contract may also be invalidated as'a <br />result. <br /> <br />4. There are no provisions in the RangelY Municipal Code or <br />any other state or local law that prevents this Contract <br />from binding the entity, with the possible exception of <br />the TABOR Amendment as noted above. <br /> <br />5. Except as noted above, the Contract will be valid and <br />binding against the Town of Rangely, in its capacity as <br />a water activity enterprise, if entered into by the State <br />of Colorado for the use and benefit of the Department of <br />Natural Resources (Colorado Water Conservation Board). <br /> <br />Please note that this letter is not based on an independent <br />audit by Hoskin, Farina, Aldrich & Kampf, Professional Corporation, <br />of the Town of Rangely's official records. <br /> <br />Sincerely, <br /> <br />HOSKIN, FARINA, ALDRIC . & KAMPF <br />Professional Corporat on <br /> <br /> <br />By <br /> <br />JTH:cfa <br />