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<br />, . <br />.. <br /> <br />RECEIVED <br />DEe 0 2 1996 <br /> <br />Orchard Mesa Irrigation District Shareholders <br />P.O. Box 30069 <br />Grand Junction, CO 81503 <br /> <br />Colorado Water <br />Conservation B08rc! <br /> <br />November 26, 1996 <br /> <br />Bill Green <br />Colorado Water Conservation Board <br />Department of Natural Resources <br />721 State Centennial Building <br />1313 Sherman Street <br />Denver, CO 80203 <br /> <br />Dear Mr. Green: <br /> <br />Enclosed for your information is a copy of Orchard Mesa Irrigation District <br />shareholders' response to the written transcript of the October 31 ,1996 meeting regard- <br />ing the funding of the Mutual Mesa Lateral project. <br />At the 1995 annual meeting, OMID's request to shareholders for a resolution to <br />seek a loan for improvements to Mutual Mesa Lateral was tabled pending shareholders <br />approval of a feasibility study of the project. The feasibility study was completed Sep- <br />tember 1996. Before this study can be considered by CWCB, the resolution must be <br />brought off the table and approved by shareholders. The earliest this feasibility study <br />can be approved is at the 1997 annual meeting. <br />If shareholders approve the feasibility study and the Board determines that crea- <br />tion of debt, in excess of $5,000, is in the best interest of the District, the District must <br />hold an election in accordance with Colorado Revised Statute 32-1-108. The ballot <br />must recite the objects and purposes of the indebtedness, the estimated cost, and the <br />maximum interest rate to be paid. OMI D must obtain a majority of those voting in a <br />state wide election before creating debt. <br />If voters approve OMID creating debt, the District must then sell bonds in accor- <br />dance with 37-41-113. Purchasing a CD in the amount of 1 year's payment is not satis- <br />factory . <br />For nearly two years OMID has purposefully attempted to avoid these legal re- <br />quirements. If OMID continues seeking a loan without full compliance, shareholders <br />will ask the district court to decide the issue. <br />Shareholders have attempted to advise CWCB that OMID is seeking a loan out- <br />side of the law. If CWCS approves loaning money for the Mutual Mesa Lateral project <br />prior to OMID being in full compliance with all laws, CWCB will additionally named to <br />the court issue. <br /> <br />Sincerely, <br />,/ . /,' 11 /1,' /:: ...~C-<.A!.( <br />"'I" 1-L !h..v.....,I..., ~! '- I- <br /> <br />GRN1126 <br />