Exhibit 23I
DAVID JONES & ASSOC., P.C.
4747 Research Forest Drive,
Suite 180, # 303
The Woodlands, TX 77381
(281) 367-8409 (phone)
(281) 367-8401 (fax)
[email protected] (e-mail)
December 12, 2000
Avalon Funds, Inc.
125 Lincoln Avenue, Suite 100
Santa Fe, New Mexico 87501-2052
Dear Sirs:
As counsel to Avalon Funds, Inc. (the "Company"), a corporation organized under
the laws of the State of Maryland, I have been asked to render my opinion with
respect to the issuance of an indefinite number of shares of beneficial interest
of the Company (the "Shares") representing proportionate interests in The Water
Fund (the "Fund"). The Shares of the Fund are a series of the Company consisting
of one class of shares, all as more fully described in the Prospectus and
Statement of Additional Information contained in the Registration Statement on
Form N-1A, to which this opinion is an exhibit, to be filed with the Securities
and Exchange Commission.
I have examined the Company's Articles of Incorporation, the Prospectus and
Statement of Additional Information contained in the Registration Statement, and
such other documents, records and certificates as deemed necessary for the
purposes of this opinion.
Based on the foregoing, I am of the opinion that the Shares, when issued,
delivered and paid for in accordance with the terms of the Prospectus and
Statement of Additional Information, will be legally issued, fully paid, and
non-assessable by the Company.
Further, I give my permission to include this opinion as an exhibit to the
Company's Registration Statement on Form N-1A.
Very Truly Yours,
David D. Jones
Attorney & Counselor at Law
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