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Boulder, Broomfield, Superior, Aurora, Denver, and Brighton. <br />A shareholder's list is provided as Appendix B. <br />While the FRICO system was conceived and adjudicated as an integrated water supply <br />system, components of the integrated water supply system were separately adjudicated by <br />Water District, as provided by Colorado law. Each FRICO Division has specific rights <br />allocated for water delivery purposes to the shares allocated to such division pursuant to <br />the FRICO articles of incorporation. <br />There are seven directors of the Company. All directors serve for one year, and are elected <br />at the annual stockholders meeting. The officers are elected by the Board of Directors. The <br />Company employs staff for systems operations, maintenance, bookkeeping and accounting. <br />Legal and engineering services are performed by independent consultants. <br />PROJECT SPECIFIC BACKGROUND <br />The Farmers Reservoir and Irrigation Company (FRICO) is the owner and operator of Milton <br />Reservoir and Barr Lake. Milton Reservoir is located in southern Weld County, Colorado <br />approximately twelve miles north of Hudson, Colorado and thirteen miles south of Greeley, <br />Colorado. Barr Lake is located along the county line of Adams and Weld Counties, Colorado. <br />The location of Milton Reservoir and Barr Lake are shown on Figure 1. Both reservoirs' main <br />purpose is water storage for crop irrigation; both reservoirs are also used to store municipal <br />water. These two facilities are a part of FRICO's overall water storage and conveyance <br />system that includes four main reservoirs (Standley Lake, Barr Lake, Milton Reservoir and <br />Marshall Lake) and approximately 400 miles of canals. <br />3 <br />