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<br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br /> <br />ment of outlet works control gates; additions to the outlet works; and <br />additional fill at Continental dam. Presently, the Santa Maria <br />Reservoir Company has 240 stockholders. The stockholders are pri- <br />marily fanning families benefiting from the irrigation water stored in <br />the two reservoirs. <br /> <br />B. Authorities of the Santa Maria Reservoir Company <br /> <br />The Santa Maria Reservoir Company, a Colorado Corporation, is a <br />mutual ditch and reservoir company. Funds are raised by assessing <br />shareholders of the Sr~RC. The company is operated according to its <br />byl aws adopted by the Board of Di rectors. The SMRC byl aws have been <br />included in Appendix A. <br /> <br />C. Financial Status <br /> <br />1. General Information <br /> <br />The Santa r~ari a Reservoi r Company currently owns the Conti nental' <br />Dam and Reservoir and the Santa Maria Dam and Reservoir. The SMRC is <br />thus entitled to full use of the storage yield and volume available in <br />both the reservoi rs. The SMRC has acqui red absol ute wa ter storage <br />rights to make full use of the total unrestricted storage capacity of <br />its reservoirs. These resources have a significant role in providing <br />irrigation water to farmers living along the r~onte Vista and Rio <br />Grande Canals. <br /> <br />II - 2 <br />