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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 , AT 8: 00 P .M. AT <br /> THE COMPANY OFFICE IN SAN ACACIO WITH THE FOLLOWING DIRECTORS <br /> PRESENT: <br /> A <br /> FRED HOLMES, JR. PRESIDENT <br /> 4Yi , <br /> WALTER BARKER VICE-PRESIDENT <br /> GERALD MATHES SECRETARY/TREASURER --_ <br /> JEANNE SHARPLEY BOARD MEMBER ' <br /> WARREN PRATOR BOARD MEMBER ; 7 <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) ; sign an applicable Deed of <br /> Trust in favor of the State to secure the repayment; and, authorize <br /> Fred Holmes, Jr. , President, and Gerald Mathes, Secretary, to sign <br /> the contract and all documents associated with the contract or <br /> necessary to comply with the terms of the contract. <br /> The Motion was seconded by Walter Rarkerand 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 /> //Lc, <br /> 71,1„-LIL <br /> EXHIBIT B <br /> nage 1 of 2 <br /> V <br />