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'';°`v G STATE OF <br /> COLORADO <br /> Haldi Ditch Co <br /> Bud Dagle <bud @apptech.com> Mon, Dec 30, 2013 at 10:27 AM <br /> Reply-To: bud @apptech.com <br /> To: peg.mason @state.co.us <br /> Peg, <br /> In response to our telephone conversation this morning, the following is the problem with submitting a <br /> Shareholders Resolution as required in your letter of instructions dated December 17, 2013. <br /> Haldi Ditch Company is comprised of 21 members rather than shareholders. This was decided when the ditch <br /> became a pipeline. Owners of the land, submitted Quit Claim Deeds giving up their ditch rights to become <br /> members of a Colorado Corporation, Haldi Ditch Co, Inc. Many of the members of the company are older some <br /> widows, non-irrigators. If I were to call a special meeting to obtain approval of the members, it is likely very few <br /> would attend or care what happens. <br /> We could send a letter to each of the members, with a proxy, stating the necessity of getting a majority <br /> approval. It also highly unlikely that sufficient proxies would be returned to have a majority approval. We have <br /> had several occasions where proxies sent for the annual meeting barely made a quorum. <br /> Our Bylaws, allow the directors to contract loans if it is authorized by a resolution by the Director. I propose this <br /> method of satisfying the letter of instruction by Director Resolution rather than Shareholder Resolution. <br /> Bud Dagle <br /> Secy/Treasurer <br /> Haldi Ditch Company <br /> in Haldi ByLaws.pdf <br /> 6323K <br />