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THE FARMERS' PAWNEE CANAL COMPANY <br />SPECIAL STOCKHOLDERS MEETING <br />AUGUST 25, 2008 <br />The special stockholders meeting was held at the Gary Desoto community Center at <br />the Logan county fairgrounds. <br />The purpose of the meeting was to discuss radial gates for the ditch system. <br />President, Steve Wagner, called the meeting to order at 7;30 p.m. It was ascertained <br />that a quorum was present with 267.367 shares represented in person or by proxy. <br />The Board proposes that 4 radial gates be constructed at an estimated cost of <br />$250,000.00. The Company has applied for a loan from CWCB for a term of 30 years <br />at 2.5% interest. Payments will be approximately $10,750 per year or about $20 per <br />share. These gates will improve safety and operation at the diversion. Following <br />discussion and questions fromthe stockholders; Justin Weber moved that we procede <br />with the plans and drawings as presented. Brett McEnDaffer seconded the motion. <br />The meeting adjourned <br />Steve Wagner, President <br />S dy Ils, Secretary <br />