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o c w en c..= o . .- ~, LEGAL REPORT: Beise reported on the subject of I1Certified Deposits", He referred to an opin- ion he had rendered previously. as well as, one rendered by the Attorney General, wherE::by both agree that the District" could put an amount not to exceed $15,000 in Certificates of Deposit. Director Dilley feels that the Banks in the Valley would like to have a proportionate amoun) of the District funds. Beise stated that during the last Session. the Colo~ado State Legislature enacted a. Law enabling the State Treasurer to deposit certain Sta.te Funds in otner than Treasury Bonds, but that this Act did not include agencies such as the Conserv- ancy District. Shoun indicated that the present interest on Our Treasury Bills is 4.9%. and has been 3.5 high as 5.926'0. Director Milenski feels we should leave our funds in Treasury Bills. Young moved that we continue to invest in Treasury Bills, motion Beconded by Wagner. A vote on Shoun's motion to table the matter was declared lost. President Nichols then asked for the vote on the original motion. the motion carried 1 to 5. Attorney Beise then gave a report on the adjudication proceedings on Districts 14 and 17, and stated that on Thursday, January 19. at 10:00 a.m., District Judge Philip Cahihi will hear arguments on a motion by the District to dismi.ss the Case. He stated that District 17 action is Bet for April. Mr. Beise then reported that District Judge Philip Cabibi recently rendered a ruling on the Records of the District, which decision he discussed. A copy of the Court Order is a part of this record. Young stated that the general public is not aware of the fact that this action was initiated by the Board of Directors of the District. Beise gave a report on the proposed CF&I Steel Corporation water proposal. He stated he had met with CF&I Attorneys, and developed an agreement which is acceptable to their ~\ttorneys and to himself. He then read the proposed agree- ment. Milenski stated that CF&I has IItemporaryll storage rights, and asked whether or not this water right would effect the water in que stion. McCurdy shared Director Milenski's concern. After discussion, Director Dilley moved the' adoption of the following Resolution: RESOLVED, that the President of the Board is authorized to approve the Contract with CF&r.I as agreed upon by Mr: Beise and the Attorneys lor CF&I. RESOLVED FURTHER, that the proper Officers of the District are authorized to sign the Contract when approved. Motion seconded by Wagner, and carried. Directors Bauserman and Everett abstained. The meeting was ad.journed for lunch. MANAGERS REPORT: Mr. Thomson suggested that the District authorize the erection of a represent- ative sign in front of the building, in order that persons needing to transact business in the building would know where it is located. He suggested language which was then throughly discussed. The estimated cost of the sign, given by Jim Holst, Architect, is $720 to be taken from the building fund. After discussion. Shoun moved. seconded by YOWlg. that the recommendation be approved. Motion was unanimously carried. -4- J" .,. '..-.... ..' . '~:-.. ... .... .,. .,"