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Farmers Pawnee Canal Company <br />March 4, 2011(UPDATED March 16, 2011) <br />Page 2 of 3 <br />Background and Current Project Status <br />Consent Agenda Item 2a <br />The Company provides irrigation water to approximately 10,000 acres of agricultural land in Logan <br />County. The service area extends from one mile south of Merino, CO to about four miles north of <br />Sterling, CO along the west side of the South Platte River. <br />The Company has spent 92% of its loan funds to build a sand gate at the river diversion on the <br />South Platte River and rebuild components of the secondary flow control structure downstream on <br />the ditch. The work consisted of replacing a portion of the concrete wall system in the river channel <br />with a new 12-foot radial gate. The gate was installed to reduce a sandbar problem. In addition, four. <br />8-foot wide radial gates were installed to replace the board gates at the secondary flow control <br />structure. <br />Construction of the secondary flow control structure was completed in the winter of 08/09 and the <br />new sand flushing gate on the river diversion structure was completed in the winter of 09/10 by <br />Ransom Boone. <br />After installation of the gates in the secondary flow control structure the Company had <br />approximately $31,000 remaining in the loan due to lower construction costs and final design <br />adjustments. The Company decided to apply the savings towards automated hydraulic operators on <br />the new gates. The loan increase will cover the additional funds necessary to add the operators. <br />Additional Costs - The Company received bids for the automated hydraulic operators of <br />approximately $66,000. <br />Additional Time — The Company anticipates the additional work will be done within the next two <br />years. <br />Farmers Pawnee Canal Company <br />The Company is a Colorado mutual ditch company and non-profit corporation. It was established in <br />1898 to manage the Pawnee Ditch for the benefit of its shareholders. There are 500 shares held by <br />110 shareholders. The Company is controlled by a six member Board of Directors. The Board has <br />the ability to levy assessments as they deem necessary. The Board also has the ability to sell the <br />stock of delinquent stockholders. <br />