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Cache Company. Information in this memorandum is believed to be accurate. However, this <br />information should not be relied upon in any legal proceeding. <br />SYSTEM OVERVIEW <br />The New Cache Company is located in Water District 3 of Water Division 1, along the Cache la <br />Poudre River. The New Cache Company manages the operation of eight affiliated companies. <br />These affiliated companies operate in an integrated fashion but maintain separate ownership by <br />kh ld Th ff 1' d f <br />stoc o ers. e a i late companies o <br />the New Cache Company include the <br />following: <br />• New Cache la Poudre Irrigating <br />Company, <br />• Cache la Poudre Reservoir <br />Company, <br />• North Side Lateral Company, <br />• North Side Extension Ditch <br />Company, <br />• Cooke Irrigation Company, <br />• Union Lateral Irrigating Company, <br />• Lake Canal Reservoir Company, and <br />• Lake Canal Company. <br />Check Structure and Headgate on <br />Greeley No. 2 Ditch <br />The eight affiliated companies managed by <br />the New Cache Company generally fall under two operating systems, the Lake Canal System and <br />the New Cache System. The Lake Canal System consists of Lake Canal, which diverts from the <br />Cache la Poudre River below the Larimer and Weld Canal headgate and above the Timnath <br />Reservoir Inlet, and the Gray Reservoirs located along Boxelder Creek. Affiliated companies <br />associated with the Lake Canal System include Lake Canal Reservoir Company and Lake Canal <br />Company. The Lake Canal System is associated with the New Cache System through partial <br />ownership in Timnath Reservoir, of which they own approximately 10 percent. With the <br />exception of the partial ownership in Timnath Reservoir, the New Cache System and the Lake <br />Canal System are generally separate. Irrigated areas under the two systems do not overlap and <br />each system has an independent delivery system. <br />The New Cache Company began as the Cache la Poudre Irrigating Company, founded in 1870 as <br />part of the Union Colony which settled in Greeley, Colorado. On January 25, 1878 the Company <br />became incorporated and held their first meeting under the company name Cache la Poudre <br />Irrigating Company. In 1898, the company was renamed the New Cache la Poudre Irrigating <br />Company. Since its inception, New Cache la Poudre Irrigating Company has operated as a <br />mutually owned ditch company. Stockholders of New Cache la Poudre Irrigating Company <br />stock, of which there are 2,500 shares, receive diversions from direct flow water rights through <br />the Greeley No. 2 Ditch or its extensions. <br />NewCacheMemo.doc 2 of 14 <br />