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3.0 Red Mesa Ward Reservoir and Ditch Company <br /> The Red Mesa Ward Reservoir and Ditch Company is a not-for-profit corporation established <br /> under the laws of the State of Colorado in 1923. The Articles of Incorporation are attached in <br /> Exhibit D. <br /> The summarized purpose of the Company is to: (1) appropriate or otherwise acquire 4,000 acre- <br /> feet of the flood water of the LaPlata River and other waters for storage in reservoirs and for <br /> distribution and use by members of the Company and other persons entitled thereto for domestic <br /> and irrigation purposes; (2) to purchase or otherwise acquire title in facilities to store and convey <br /> water; (3) to purchase or otherwise acquire lands upon which the facilities are located; (4) to <br /> construct, operate, and maintain facilities; and (5) levy and collect assessments for the <br /> enlargement, repairs, maintenance, operation and superintendence of facilities. <br /> The five directors of the Company are empowered and directed to make such prudential by-laws <br /> as are proper and necessary for the management, conduct and control of the affairs, business and <br /> property of the Company and issuance of Company certificates. <br /> The Company owns the Red Mesa Reservoir and inlet ditch from the LaPlata River. Land for <br /> the enlargement must be purchased from the present owners. <br /> There is one share of stock for each acre-foot of storage in the Red Mesa Reservoir. There are <br /> 1,172 shares of stock held by about 50 persons or entities. The 1995 assessment is $9.50 per <br /> share of which about $3.50 is for operation and maintenance and $6.00 goes into a fund to pay <br /> for repairs (about $7,000 per year). <br /> The service area for the Company generally surrounds the small town of Red Mesa <br /> (unincorporated) as shown on Figure 1. The service area is not constrained by any legal <br /> limitations and could include water users outside of the historic area. Recently the Company has <br /> sold a small number of shares for domestic well augmentation water within the historic service <br /> area. <br /> 6 <br />