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We presents results from a spectroscopic survey of $z\sim5$ quasars in theCFHT Legacy Survey (CFHTLS). Using both optical color selection and alikelihood method we select 97 candidates over an area of 105 deg$^2$ to alimit of $i_{\rm AB} < 23.2$, and 7 candidates in the range $23.2 < i_{\rm AB}< 23.7$ over an area of 18.5 deg$^2$. Spectroscopic observations for 43candidates were obtained with Gemini, MMT, and LBT, of which 37 are $z>4$quasars. This sample extends measurements of the quasar luminosity function$\sim$1.5 mag fainter than our previous work in SDSS Stripe 82. The resultingluminosity function is in good agreement with our previous results, andsuggests that the faint end slope is not steep. We perform a detailedexamination of our survey completeness, particularly the impact of theLy$\alpha$ emission assumed in our quasar spectral models, and find hints thatthe observed Ly$\alpha$ emission from faint $z\sim5$ quasars is weaker than for$z\sim3$ quasars at a similar luminosity. Our results strongly disfavor asignificant contribution of faint quasars to the hydrogen-ionizing backgroundat $z=5$.

The Faint End of the z=5 Quasar Luminosity Function from the CFHTLS