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<br />" <br /> <br />August~, 1992 <br /> <br />SPECIAL MEETING <br /> <br />THE BOARD OF DIRECTORS OF THE SANCHEZ DITCH AND RESERVOIR COMPANY <br />HELD A SPECIAL BOARD MEETING ON AUGUST 10, 1992, AT 8:00 P.M. AT <br />THE COMPANY OFFICE IN SAN ACACIO WITH THE FOLLOWING DIRECTORS <br />PRESENT: <br /> <br />FRED HOLMES, JR. <br />WALTER BARKER <br />GERALD MATHES <br />JEANNE SHARPLEY <br />WARREN PRATOR <br /> <br />PRESIDENT <br />VICE-PRESIDENT <br />SECRETARY/TREASURER <br />BOARD MEMBER <br />BOARD MEMBER <br /> <br />AGENDA ITEM FOR THE SPECIAL MEETING: CWCB LOAN CONTRACT <br /> <br />THE MEETING WAS CALLED TO ORDER AT 8:00 ~.M. BY PRESIDENT FRED <br />HOLMES, JR. <br /> <br />THE CWCB PROJECT CONTRACT WAS REVIEWED. THE CONTRACT AND THE LOAN <br />PAYBACK PROVISION OF THE CONTRACT WAS ADDRESSED. .Jeanne Sharnle. <br />MADE THE FOLLOWING MOTION TO ACCEPT AND SIGN THE CWCB CONTRACT. <br /> <br />RESOLVED, that Sanchez Ditch and Reservoir Company enter into <br />the contract with the State to borrow the principal sum of four <br />hundred thousand dollars ($400,000); sign an applicable Deed of <br />Trust in favor of the state to secure the repayment; and, authorize <br />Fred Holmes, Jr., President, and Gerald Mathes, Secretary, to sign <br />the contract and all documents associated with the contract or <br />necessary to comply with the terms of the contract. <br /> <br />The Motion was seconded by W~lrpr ~Arkprand the motion was <br />adopted unanimously. There being no further business the meeting <br />was adjourned. <br /> <br />BY SIGNING BELOW EACH MEMBER OF THE BOARD OF DIRECTORS WAIVES <br />NOTICE OF SAID MEETING. <br /> <br />1M// W d7V4-)U <br />adJ;t:; /3J~ <br />iPo~-AJf ~~ /]/ ~t-ti~ <br />-uJ.vv......._ ,_ ~/#- <br /> <br />a/_ <br />/' <br /> <br />~ <br />L <br /> <br />EXHIBIT B <br /> <br />nage 1 of 2 <br /> <br />I <br />