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. . . FEASIBILITY OF THE CONSTRUCTION OF THE RIVERSIDE RESERVOIR EMERGENCY SPILLWAY PROJECT SPONSOR -, General The Riverside Reservoir and Land Company (RRlC) is a nonprofit corporation formed under the laws of the State of Colorado and operates under 401 C-12 of the IRS code for agricultural organizations. The company was formed in May 1904. There are now 10,020 shares of stock outstanding of the original 12,000 issued. There are 2,505 rights in the company each representing four shares of stock. . Rights are generally used in any discussion concerning stockholders of the company; however, it must be remembered that one right is equal to four shares. The company is managed by a five member board of directors elected on an annual basis. There is a president and vice president elected by the board of directors. The secretary treasurer is hired by the board and serves at the pleasure of the board. The board also retains a superintendent to conduct the normal day to day operation of the company. Riverside Irrigation District owns 1,937.25 rights (7,749 shares) of RRLC and is therefore the majority owner. The remaining rights are owned by other ditch companies and private individuals. Three of the five board members of RRLC also serve on the District board. Each share in the company delivers approximately 16 acre-feet of water at the reservoir outlet. The greatest amount of the water released from the reservoir is into Riverside Canal which is the distribution canal for the majority water user, the Riverside Irrigation District. Water may also be released to the South Platte River for use by the other shareholders. The rights which are owned by the District are restricted to use on District lands. The rights owned by other ditch companies are used within the service area of the respective ditch companies. Rights owned by private individuals are used throughout Morgan County and in Washington, Weld, and Logan counties. 3