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• <br /> • <br /> S <br /> MINUTES OF SPECIAL MEETING <br /> HIGHLINE-BUZZARD DITCH COMPANY INC <br /> JULY 14, 1990 <br /> A special meeting of the Highline-Buzzard Ditch Company. Inc was <br /> held at Arza L. Mill ' s residence in Collbran, Colorado on July <br /> 14. 1990 at 7:30 a. m. . <br /> The meeting was called to order by President Arza L. Mills. <br /> The following people served by the Hio n and ditch were <br /> present: � <br /> Arza L. Mills <br /> Fred A. Feller <br /> James M. Cole <br /> Wallace Taylor ` <br /> I <br /> The following owners of property served by the ditch were not <br /> present being out of state at the ' time of the meeting, however, <br /> • they were contacted by the Secretary and have forwarded letters <br /> ratifying and approving actions taken at this meeting. Letters <br /> of will be filed with these minutes when received. <br /> LARRY INGRAM <br /> GORDON WEIMER <br /> KENT POWELL <br /> The President informed those present that application had been <br /> made to the State of Colorado to incorporate the ditch and that <br /> an Organizational meeting had been held this morning and asked <br /> the Secretary to read the minutes of the Organizational meeting. <br /> The Secretary read the minutes including the Articles of <br /> Incorporation and the By-laws of the Company. <br /> The President then asked those present if they would be willing <br /> to exchange whatever rights they might have in the present ditch <br /> for stock in the Company. <br /> After discussion, it appeared that said ditch was necessary for <br /> the business of this Company and that the ditch was necessary to <br /> transport the owners water. <br /> Fred Feller indicated that he was in the process of transferring <br /> a small part of his water rights so the water would flow through <br /> another (the "upper ditch") which is not part of the Highline- <br /> Buzzard Ditch. When, and if, the water rights are so <br /> transferred, then his shares in the Company will have to <br /> approriately adiusted. With that reservation he agreed to and <br /> voted to accept shares of stock for whatever rights he might have <br /> in the Highline-Buzzard Ditch. <br /> It further appeared that it was not possible to establish a value <br /> for an individual 's right in the ditch, therefore it was <br /> Exhibit C <br />