PROJ00100

• Contract/PO #: C153496
• Contractor Name: North Poudre Irrigation Company
• Contract Type: Loan
• Water District: 3
• County: Larimer
• Bill Number: HB 85-1042
• Loan Projects - Doc Type: Feasibility Study

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suhstantial rehabilitation expense which must be made to

preserve or improve Halligan Reservoir, but the Directors know

that assessments for any such project cannot be addressed at

this time. nor borne by the North Poudre Stockholders at this

time, and there must be further expJ oration and investigation

of financial assistance or a cooperative venture in the future

in connection with any improvement to Halligan Reservoir; and

Whereas projects which can be completed and paid for

must be accomplished now so North poudre is able to deal with

future problems and projects which will be necessary to keep
the company able to meet its obligations to the Stockholders.
NOW, THEREFORE, BE IT RESOLVED BY THE STOCKHOLDERS OF
THE NOR'fH POUDRE IRRIGATION COMPANY AS FOLLOWS:
That it is necessary and advisable to promptly repair
North Poudre Reservoir No. 15, Clark Lake, and North Poudre
Reservoir No. 2 because of their importance to the North Poudre
Stockholders and to protect and improve the Stockholders'

investment in North poudre;

That the Board of Directors is given the authority to

accept the 5% loan from the Colorado Water Conservation Board

if the North Poudre Board chooses so to do;

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PIJudre Irrigzl t ion Company tD avoid payinq substant ial comrn(~r-

cial interest costs to finance the necessary repairs to North

Poudre Reservoir No. 15, ClarK Lake, and North Poudre Reservoir

No. 2 so the Board of Directors is able to plan and pay for

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