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<br /> <br />e <br /> <br />GENERAL DESCRIPTION <br /> <br />OwnershiP of Model Land and Irrigation Company <br /> <br />~ <br /> <br />The MLI is owned primarily by the City of Trinidad and John T. <br />oxley. specificallYt the 12t679 outstanding shares of stock are <br />owned as shown in the following table: <br /> <br />c <br />fi <br /> <br />1 <br /> <br />, <br /> <br />TABLE I <br />MODEL LAND AND IRRIGATION COMPANY OWNERSHIP <br /> <br />e <br /> <br /> Number <br />Owner of Shares Percent <br />City of Trinidad 6,599 6/7 52.0 <br />John T. Oxley 5,932 1/7 46.8 <br />Joe Far r i s & <br />Gerald Ariano 58 0.5 <br />Paul A. Nicholson 50 0.4 <br />Alice S. Cole Estate 20 0.2 <br />18 others 19 o. I <br /> TOTAL 12,679 100.0 <br /> <br />Ownership of Land and Equipment <br /> <br />e <br /> <br />MLI ow~s land, equipmentt and water rights. Land ownership <br />consists of 1,808 acres exclusive of the Model Reservoir site. <br />Of the 1,808 acres owned, 333 acres are irrigated fanmland, 331 <br />acres are marginally irrigated fanmldndt and the remainder is <br />primarily grazing landt range land and buildings. The Model Reservoir <br />site consists of approximately 2,000 acres of which 720 acres are owned <br />by MLI. In addition to the above landt MLI owns approximately 100 lots <br />in the town of Hoehne. Equipment ownership includes a draglinet a <br />truck, a transport trailer, a 0-7 caterpillar, a weed burnert and welding <br />equipment. Equipment of this kind is considered necessary to operate <br />and maintain irrigation ditch facilities. The estimated value of this <br />equipment is approximately $36tOOO. The ownership of land and equipment <br />is presented for informational purposes only since the specific appraisal <br />of these items is beyond the scope of the report. <br /> <br />6 <br /> <br />- <br />