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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 />power to act for and on behalf of AGUA in any manner not prohibited by statute or by the Articles of <br /> <br /> <br />Incorporation", and that "Said directors, or a committee appointed by them, shall approve and direct <br /> <br /> <br />all disbursement of the funds of AGUA and shall determine the necessity for and the extent of any <br /> <br /> <br />indebtedness or obligations incurred by AGUA. " <br /> <br />According to the By-Laws, the business and affairs of AGUA shall be under the management and <br /> <br /> <br />control of a board of directors consisting of at least five (5) directors who are members of AGUA. For <br /> <br /> <br />1997, the Board of Directors consists of nine persons. In addition, AGUA employs a full time general <br /> <br /> <br />manager, who is not a director or a member of AGUA, to conduct the day to day business of the <br /> <br /> <br />association as directed by the Board. The officers of the association include a President, Vice- <br /> <br /> <br />President, and Secretaryfrreasurer. The duties of the Board of Directors are listed in Article IV of the <br /> <br /> <br />By-Laws. The current Officers of AGUA and their title, and the general manager are listed below: <br /> <br />President <br />Vice-President <br />Secretaryfr reasurer <br />General Manager <br /> <br />Dick Evans <br />Bert Potestio <br />Cliff Walter <br />Jeanette Bryan <br /> <br />A full list of the 1997 Board of Directors is included in Appendix C. <br /> <br />AGUA's revenues are derived from annual fees charged to the membership for each well included in <br />the Plan, and for each acre-foot of depletion generated by the member well. The following annual <br />fees are assessed for 1997. <br /> <br />1. <br />2. <br /> <br />Active Wells - Setup Cost: <br />Active Wells - Administrative Costs: <br /> <br />$100 per well (new members only) <br />$205 per well <br /> <br />Breakdown of Administrative Costs: <br />$.150 Administration Fee <br />$25 Loan Reserve Fee <br />$30 Well Re- Testing Fee <br /> <br />3. <br />4. <br /> <br />Inactive Wells - Administrative Costs: <br />Well Test Fee: <br /> <br />$50 per well <br />$110 per well for basic test <br />$135 per well for complex test <br /> <br />5. <br />6. <br />7. <br /> <br />$6.44 per acre-foot of annual well depletion <br />$3.00 per acre-foot of annual well depletion <br />$.100 per well joined after January 15, .1997 <br />$200 per well joined after February 15, 1997 <br /> <br />Augmentation Water Fee: <br />Acquisition Reserve Fee: <br />Supplemental Plan Fees: <br /> <br />-3- <br /> <br />- -- ~ <br />