My WebLink
|
Help
|
About
|
Sign Out
Home
Browse
Search
PROJ01942 (2)
CWCB
>
Loan Projects
>
DayForward
>
1001-2000
>
PROJ01942 (2)
Metadata
Thumbnails
Annotations
Entry Properties
Last modified
11/19/2009 11:22:25 AM
Creation date
2/26/2008 11:16:14 AM
Metadata
Fields
Template:
Loan Projects
Contract/PO #
C153741
Contractor Name
Vouga Reservoir Association
Contract Type
Loan
Water District
72
County
Saguache
Bill Number
SB 94-029
Loan Projects - Doc Type
Application
There are no annotations on this page.
Document management portal powered by Laserfiche WebLink 9 © 1998-2015
Laserfiche.
All rights reserved.
/
12
PDF
Print
Pages to print
Enter page numbers and/or page ranges separated by commas. For example, 1,3,5-12.
After downloading, print the document using a PDF reader (e.g. Adobe Reader).
Show annotations
View images
View plain text
<br /> <br />_I) <br /> <br />!( <br /> <br />, . '",' ,", (. <br /> <br />RESOLUTION OF THE SHAREHOLDERS <br />OF <br />VOUGA RESERVOIR ASSOCIATION <br /> <br />In accordance with the provIsions of the Colorado Corporation Code, the <br />undersigned, constituting all of the shareholders of the Association hereby acknowledge the <br />following statements and consent to taking the following action without a formal meeting: <br /> <br />RECITALS <br /> <br />1. The Association has issued and has outstanding two separate classes <br />of shares, designated as A shares and B shares, which correspond to water storage rights <br />attributable to the original storage decree (in the case of the A shares) and to the subsequent <br />storage decree pursuant to the reservoir expansion (in the case of the B shares). <br /> <br />2. Historically, the Association has assessed its shareholders according to <br />whether the assessment related to expenses directly attributable to the original reservoir, or to <br />the reservoir expansion. For example, when the expansion work was done, the Association <br />incurred indebtedness to CoBank which is being paid by assessments levied on the B shares. <br /> <br />3. At the present time, ownership of the Association stock in the amount of <br />water represented thereby is as follows: -TO if.~.( ~~ ~:I <br /> <br />A B ~,'-'--'+1/AF %+1/AF <br /> <br />Taramarcaz 59.5 82 141.5 15.4% <br />Peterson 204.0 82 286.0 31.1% <br />LeBrouche 88.4 82 170.4 18.5% <br />Watson 158.1 164 322.1 35.0% <br /> 510.0 410 920.0 100.0% <br /> <br />4. The Association anticipates incurring indebtedness of approximately <br />$20,000.00 to the Colorado Water Conservation Board for the cost of the Feasibility Study for <br />reservoir repairs and improvements. This indebtedness, when incurred, will not relate <br />specifically to either class of shares. With respect to such indebtedness and any future <br />expenses of a general nature, the shareholders believe it to be more equitable to be assessed <br />according to their total percentage of acre feet represented by both classes of shares owned. <br /> <br />5. The shareholders further acknowledge that in voting on Association <br />matters, the current rights of one vote per ranch as specified in the First Amended Articles of <br />Incorporation, is inequitable. The Shareholders believe it to be more equitable to permit voting <br />based on the percentage of total acre feet represented by total shares owned by each <br />Shareholder. <br /> <br />follows: <br /> <br />6. In view of the foregoing statements, the undersigned hereby resolve as <br />
The URL can be used to link to this page
Your browser does not support the video tag.