Laserfiche WebLink
TWO RIVERS WATER COMPANY <br />TELEPHONIC MEETING OF THE BOARD OF DIRECTORS <br />DECEMBER 22, 2011 <br />On December 22, 2011, John 1VMcKowen, as Chairman of the Board of Directors of Two Rivers <br />Water Company (the "Company') convened a meeting of the Company's Board of Directors via <br />the phone at 2 :00 pm MT. The following Board members were in attendance via a telephone: <br />John McKowen, Dennis Charmer, John Stroh H, Brad Walker and Gregg Campbell. Wayne <br />Harding attended as recording secretary. Gary Barber attended as guest and as the Company's <br />Chief Operating Officer. This meeting was recorded. <br />BOARD RESOLUTIONS: <br />Topic: Pueblo Board of Water Works (PBWW) lease and application for PBWW exchange <br />and approval of augmentation <br />Discussion/Background <br />Our PBWW lease allows the Company to establish a formal relationship with PBWW. The lease <br />opens the door to PBWW to store their water in our storage and for us to enter the spot water <br />market. In order to receive maximum value from the PBWW lease, the Company wishes to file <br />an application to exchange water leased from PBWW and approve augmentation of the water. <br />This will allow us to keep water upstream in the Huerfano River and PBWW releases in <br />exchange. Because we are a corporation, we need to show intent to use the water, which is the <br />purpose of the resolution below. <br />Resolved: TRWC by this Board Resolution approves the Pueblo Board of Water Works lease dated <br />September 20, 2011. Further, the Board hereby declares its intent to appropriate the waters of <br />Colorado for the purposes of exchanging (1) water derived from its lease with the Pueblo Board <br />of Water Works from the mainstem of the Arkansas River upstream on the Huerfano and <br />Cucharas Rivers and their tributaries to any and all locations that would benefit Two Rivers and <br />its subsidiaries, including exchanges from places where such water may be stored, and (2) water <br />derived from the Robert Rice Ditch water right from its present point of diversion, or from places <br />where such water may be stored, upstream on the Huerfano and Cucharas Rivers and their <br />tributaries to any and all locations that would benefit Two Rivers and its subsidiaries, and to <br />expend resources in the perfection of that appropriation, as more particularly described in legal <br />documents prepared by its attorneys Krassa & Miller, LLC. <br />This resolution passed unanimously. <br />