EX-5 4 exh5.htm OPINION OF FOLEY & LARDNER

EXHIBIT 5

FOLEY & LARDNER

 

CHICAGO
DENVER
JACKSONVILLE
LOS ANGELES
MADISON
MILWAUKEE
ORLANDO

FIRSTAR CENTER
777 EAST WISCONSIN AVENUE
MILWAUKEE, WISCONSIN 53202-5367
TELEPHONE (414) 271-2400
FACSIMILE (414) 297-4900

SACRAMENTO
SAN DIEGO
SAN FRANCISCO
TALLAHASSEE
TAMPA
WASHINGTON, D.C.
WEST PALM BEACH

EMAIL ADDRESS
mnolan@foleylaw.com

WRITER'S DIRECT LINE
(414) 297-5672

CLIENT/MATTER NUMBER
086397/0101

October 22, 2001

 

 

WPS Resources Corporation
700 North Adams Street
Green Bay, WI 54307

Ladies and Gentlemen:

        We have acted as counsel for WPS Resources Corporation, a Wisconsin corporation ("Resources") in connection with the preparation of a Form S-8 Registration Statement (the "Registration Statement") to be filed by Resources with the Securities and Exchange Commission under the Securities Act of 1933, as amended (the "Securities Act"), relating (i) to 30,000 shares of the Common Stock, $1.00 par value per share of Resources (the "Common Stock") and attached stock purchase rights ("Rights"); (ii) $1,000,000 of Deferred Compensation Obligations of Resources (the "Obligations"); and (iii) an indeterminate amount of interests in the WPS Resources Corporation Non-Employee Deferred Compensation and Deferred Stock Unit Plan (the "Plan"), all of which may be issued pursuant to the Plan.

        We have examined: (a) the Plan; (b) the Registration Statement; (c) Articles of Incorporation and Bylaws, as amended to date of Resources; (d) resolutions of the Board of Directors of Resources relating to the Plans; (e) resolution of the shareholders of Resources approving the Plan; (f) the Rights Agreement dated December 12, 1996 between Resources and Firstar Trust Company (the "Rights Agreement") and (g) such other documents and records as we have deemed necessary to enable us to render this opinion.

        Based upon the foregoing, we are of the opinion that:

        1.  Resources is a corporation validly existing under the laws of the State of Wisconsin.

        2.  The shares of Common Stock, when issued pursuant to the terms and conditions of the Plan, and as contemplated in the Registration Statement, will be validly issued fully paid and nonassessable, except with respect to wage claims of, or other debts owing to, employees of Resources for services performed, as provided in Section 180.0622(2)(b) of the Wisconsin Business Corporation Law.

        3.  The Rights, attached to the Shares of Common Stock when issued pursuant to the terms of the Rights Agreement will be validly issued.

        4.  The Obligations when issued pursuant to the terms of the Plan, and in connection with deferred compensation payable by Resources, will be validly issued and binding obligations of Resources.

        We consent to the use of this opinion as an exhibit to the Registration Statement. In giving our consent, we do not admit that we are "experts" within the meaning of Section 11 of the Securities Act or within the category of persons whose consent is required by Section 7 of said Act.

Very truly yours,

 

/s/ Foley & Lardner

 

FOLEY & LARDNER