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August 10 , 1992 <br /> SPECIAL MEETING <br /> THE BOARD OF DIRECTORS OF THE SANCHEZ DITCH AND RESERVOIR COMPANY <br /> HELD A SPECIAL BOARD MEETING ON AUGUST 10, 1992 , , T- 8 : 00 P .M. AT <br /> THE COMPANY OFFICE IN SAN ACACIO WITH THE FOL'O � , G 7D;RECTORS <br /> PRESENT: ."' t-1 t <br /> FRED HOLMES, JR. PRESIDENT <br /> WALTER BARKER VICE-PRESIDENT \t ,'J <br /> GERALD MATHES SECRETARY/TREASURER -4Z. <br /> L <br /> �JEANNE SHARPLEY BOARD MEMBER <br /> WARREN PRATOR BOARD MEMBER <br /> AGENDA ITEM FOR THE SPECIAL MEETING: CWCB LOAN CONTRACT <br /> THE MEETING WAS CALLED TO ORDER AT 8 : 00 P.M. BY PRESIDENT FRED <br /> HOLMES, JR. <br /> THE CWCB PROJECT CONTRACT WAS REVIEWED. THE CONTRACT AND THE LOAN <br /> PAYBACK PROVISION OF THE CONTRACT WAS ADDRESSED. Jeanne Sharpley <br /> MADE THE FOLLOWING MOTION TO ACCEPT AND SIGN THE CWCB CONTRACT. <br /> RESOLVED, that Sanchez Ditch and Reservoir Company enter into <br /> the contract with the State to borrow the principal sum of four <br /> hundred thousand dollars ($400, 000) ; make and levy assessment(s) <br /> sufficient to pay off the contract loan pursuant to its terms and <br /> to discharge the lawful indebtedness; set aside the assessment <br /> revenue in a special fund separate and apart from other company <br /> revenues to assure repayment of this revenue to the State; sign <br /> applicable security interest in such assessment revenues in favor <br /> of the State to secure the repayment; and, authorize Fred Holmes, <br /> Jr. , President, and Gerald Mathes, Secretary, to sign the contract <br /> and all documents associated with the contract or necessary to <br /> comply with the terms of the contract. <br /> The Motion was seconded by Walter Barker and the motion was <br /> adopted unanimously. There being no further business the meeting <br /> was adjourned. <br /> BY SIGNING BELOW EACH MEMBER OF THE BOARD OF DIRECTORS WAIVES <br /> NOTICE OF SAID MEETING. <br /> .. _ <br /> EXHIBIT A <br />