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RECORD OF PROCEEDINGS <br /> -- -- <br /> MINUTES OF THE ANNUAL MEETING <br /> OF THE STOCKHOLDERS OF THE FULTON IRRIGATING DITCH COMPANY <br /> JANUARY 25, 1993 <br /> The annual meeting of the stockholders of the Fulton Irrigating <br /> Ditch Company was held January 25, 1993 , at 1: 30 o ' clock p.m. in <br /> the Community Room of the First Federal Savings Bank, 1795 East <br /> Bridge Street, Brighton, Colorado. <br /> Secretary Dirrim read the call of the meeting. He further stated <br /> that notice of the call had been mailed to all stockholders of <br /> record and also published in the Brighton Standard-BLade as <br /> required by the laws of the State of Colorado. <br /> President Paul Schmidt called upon the proxy committee to report <br /> back the number of shares present in person and also the number of <br /> shares present by proxy. Assistant Secretary/Treasurer Connie <br /> Strasheim reported back for the pro1y committee <br /> shares were present stating hat <br /> 3134 . 78 shares were present by proxy, <br /> in person, being a total of 5072 . 18 shares in person or by proxy. <br /> President Schmidt announced that a majority of shares issued and <br /> outstanding were present in person or by proxy and that a quorum <br /> was present and declared the annual meeting open for business. <br /> The first matter of business was reading of the minutes of the <br /> annual meeting held on January 27 , 1992 . Thi? W :t ;1 . e read by <br /> Secretary Lysle Dirrim. Upon motion duly +': y• S ckholder <br /> Sakata, seconded by Stockholder Louise Mu -'=y4. • - I tes were <br /> approved as read. <br /> , <br /> The next matter of business was rev'le -�� nda r '�1 ,� f the <br /> financial report for the calendar year '.192 .' %., r y <br /> Dirrim reported that the financial report showed a book balance as <br /> of December 31, 1991, of $46, 833 . 86 , receipts for the calendar year <br /> 1992 in the amount of $124 , 680. 37 , making total available funds in <br /> checking account for calendar year 1992 in the amount of <br /> $171, 514 . 23 . Expenses and disbursements for the year 99in 2 were <br /> ere <br /> $153 , 276 . 51, leaving a balance as of December 31, 1992 , <br /> checkbook in the amount of $18 , 237 . 72 with the Norwest Bank of <br /> Brighton and a balance as of December 31, 1992 , in the amount of <br /> $9 , 984 . 07 with the Platte Valley Bank. In addition to the <br /> checkbook balance, the Ditch Company has on deposit with18lattte <br /> Valley Bank in the money market account the sum of $87 , , <br /> making a total checking and savings balance of $115 , 367 . 16. <br /> Stockholder John Thimmig moved that the financial reportbe <br /> be <br /> received and approved, seconded by <br /> Stockholder Lell and approved <br /> unanimously. <br /> President Schmidt stated that the floor was open for regular <br /> business and called for comments by the stockholders . Stockholder <br /> Vynckier raised a question of crossing fees of the Ditch, and in <br /> particular, those crossings carried on by oil companies . It was <br /> stated that other ditch companies in Weld County have been charging <br /> at least $1, 000 .00 per crossing, and based upon the damage and <br /> injury and the attention necessary for such crossings, that Fulton <br /> should also charge a reasonable amount. He made a motion that the <br /> charges be set n100ccrossing <br /> Hladkyall <br /> ofcFort1Luptongs. Tand <br /> motion was secondedby Stockholder <br /> passed unanimously. <br />