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<br />THE TERRACE IRRIGATION COMPANY <br />ANNUAL MEETING <br />NOVEMBER 20, 2003 <br /> <br /> <br />Terrace Irrigation Company held its annual meeting on November 20, 2003 at the Bowen <br />ch Hall, Bowen, Colorado. President Rodney Reinhardt called the meeting to order at 1:40 <br /> <br />IT ident Reinhardt appointed a proxy committee consisting of Kent Reinhardt and Brian <br />Co man. The proxy committee declared a quorum with 376.5 shares present in person and 120 <br />s es present by proxy. <br /> <br /> <br />ident Reinhardt presented the proof of mailing and publication. <br /> <br />Th minutes of the November 21, 2002 annual meeting were approved as read. <br /> <br />Fin ncial Report <br />Th 2002-2003 financial report was presented. (See attached) A discussion was held on the <br />op n of borrowing against the certificates of deposit to finance the repairs at the reservoir or if <br />it uld be better to cash in the certificates of deposit because of low interest rates. <br /> <br /> <br />n moved to approve the 2002-03 financial report as presented. Roland seconded, motion <br />ed. <br /> <br /> <br />Di h Superintendent's Report <br />Lui . Heredia reported that the reservoir was opened on April 2, 2003 with a gauge height of <br />62. .3 and a holding point of2686 acft. The river peaked on May 22nd with an inflow of 4 1 5 cfs. <br />The reservoir did not gain any water from the peak runoff From September 29th to October 1st <br />theeservoir gained 1059 acft due to rains and downstream users refusing their water. It took 40 <br />plu . days to get rid of the gain. The Alamosa Creek Canal ran for 204 days with an amount of <br />wat totaling 4,168.29 acft. This consisted of 2, 771.08 acft of river water and 1,396.49 acft of <br />stor e water. The Terrace Main ran for 179 days with an amount of water totaling 4,051.26 <br />acft This consisted of 2, 743.07 acft of river water and 1,308.19 acft of storage water. Total <br />stor e water used between both ditches was 2,704.68 acft. Cat Creek did not run at all this year. <br />We ried to drain the reservoir on November 3,2003. On November 4th the Howell Bunger <br />val was plugged and the west gate was semi-plugged. On the 5th we tried to unplug the <br />Ho ell Bunger and the west gate and were unsuccessful with the Bunger, but successful with the <br />gate. The reservoir was successfully drained by November 6th. No trash racks were in <br />at this time. <br /> <br />ident's report <br />Inspection - Rod reported that a new inspector, Dennis Miller, inspected the reservoir on <br />st 18th with the usual outcome with the spillway rated poor and too small, leaving the 7 foot <br />ction in place. We also have to survey the monuments this year. This is required every five <br />