C150168 PIF

• Contract/PO #: C150168
• Contractor Name: The Fulton Irrigating Comapny
• Contract Type: Loan
• Loan Projects - Doc Type: Contract Documents

RECORD OF PROCEEDINGS
FULTON IRRIGATING DITCH COMPANY
Minutes of the Annual Meeting
January 25 , 1993
Page 3
President Schmidt then called for approval or disapproval of the
second amendment as proposed by the Board of Directors, which reads
as follows :
2 . "That all headgates where the shares of water
stock of Fulton Irrigating Ditch Company has
been sold or transferred off the land which
was historically irrigated by such water stock
and has not been used for a period of three
(3) consecutive irrigating seasons may be
removed or plugged by the Ditch Company. "
President Schmidt stated that the purpose of the second amendment
is that the headgates that are no longer being used that are on the
Ditch and do not represent delivery of water stock pose a hazard
and ditch loss to the Ditch Company. The Board of Directors felt
that three years of non-use of a headgate on property which has no
water stock was a reasonable period of time and that after such
period of time, the Ditch Company should be entitled to either
remove the headgate or plug the headgate as it deems proper.
After further discussion, Stockholder Murray moved that the second
amendment be approved, seconded by Bil c auean.mnt Upon
a hands
ds
vote, President Schmidt declared the s
2/3 of the outstanding shares. AL f
The next matter of business was t (ApeY
ination of assessments
for the 1993 irrigation season. t - su - i 'm eminded the
Board that the assessments for °:1.9• " e 1 . 00 per share.
h� �- nticipated
President Schmidt reviewed the expenses w?'ttc tree cutting and
for the next calendar year, including certain
replacement of headgates. President Schmidt stated that with the
balance on hand, he believed that the assessment could be :Lowered.
Bob Sakata moved that the assessments for the calendar year be
established at $14 . 00 per share. This motion was seconded by
Stockholder Windier and passed unanimously.
The next matter of business was a report by Forrest Leaf of
Colorado Water Conservancy District. Mr. Leaf had been monitoring
the river and also the water quality of the Fulton water and other
matters as it pertained to ammonia content and dissolved oxygen
content as it affects our water. Mr. Leaf made his report.
Following Mr. Leaf ' s report, Stockholder Sakata moved that the
Fulton IrDistrict..tct1This�pmoti n continue
with
Conservancy seconded byStockholder
Conservancy
Steve Brancucci and passed unanimously.
The next matter of business was a call upon Dave Yamada, Fort
Lupton Administrator, who reported on the Fort Lupton Cogeneration
Electric Plant which is being constructed in Fort Lupton, and is
dependent upon steam generation.
The next matter of business called for by President Schmidt was
election of Directors. Stockholder Sakata moved that the Directors