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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 />PROXY. <br /> <br /> <br />shares in Cotton Creek Water <br /> <br />Proposed Budget, 1992 <br /> <br />Annual maintenance <br />Ditch riding, regulation <br />Major project <br />Administration <br />TOTAL <br /> <br />11,000 <br />500 <br />12,000 <br />5.500 <br />29,000 <br /> <br />.60 per share <br /> <br />A management-maintenance contract between Cotton Creek Ranch and <br />Cotton Creek Water Company would specify annual objectives and <br />major non-repeating objectives in terms of scope, time, and <br />estimated cost. Cotton Creek Ranch would bill the Water Company <br />at differential rates depending on the service, ranging from heavy <br />equipment at $55.00 a hour to administration at $35.00 an hour. <br /> <br />Notes. Ouestions <br />