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Last Chance Ditch Annual Share Holders Meeting <br /> January 29, 2011 <br /> Attendance: Jim French, Don Jones, Harold Nelson, Jack, Chris and Garrett <br /> Varra, Doug, and John Rademacher, Herb Accord, Jesse Cogburn and Matt Noteboom. <br /> 18 6/9 shares were represented in person, or by proxy. The meeting was held at the El <br /> Vaquero Restaurant at Highway 66 and I25. <br /> The Meeting was opened, and Sean Cronin the new director of the ST. Vrain and <br /> Lefthand Water District was introduced. Sean gave a brief update about the district to the <br /> shareholders. One of the big things Sean brought up was the fact that the historical <br /> society was looking at the possibility of declaring ditches, and ditch structures as <br /> historical items, which could add onerous regulation when it comes to maintaining, and <br /> rebuilding structures. <br /> The meeting was opened and a quorum was established. There were 15 7/9 shares <br /> represented in person, or by Proxy. The minutes from the previous year's annual meeting <br /> were presented. A motion was made to accept the last year's minutes, and it was <br /> unanimously approved. <br /> The financial report was presented to the shareholders next. After reviewing the <br /> financial report a motion was made to accept, and it was unanimously approved. <br /> The ditch rider, Doug Rademacher, gave a report to the shareholders about the <br /> ditch. Doug reiterated the fact that there are structures on the ditch which need to be <br /> replaced,repaired or removed, including the measuring structure, some of the crossing <br /> structures,trees near the ditch, check structures,the river headgate and other headgates. <br /> There was a motion and unanimous approval by the shareholders to address the items that <br /> need to be fixed in an orderly, and economical fashion. <br /> Assessments for the upcoming year were discussed. A motion was made to make <br /> the assessments $612/share, and to make available a special assessment in the amount of <br /> an additional $612 per share, if necessary. The motion passed unanimously. <br /> Next,the shareholders voted on board members for 2011. A motion was made, <br /> and unanimously approved to keep the same board of directors. Jim French, Garrett <br /> Varra, Harold Nelson, Herb Accord, and Matt Noteboom will be the company directors <br /> for the upcoming year. <br /> With no more business coming before the shareholders the meeting was <br /> adjourned. <br />