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<br />o -'~ I~r(' r-1/Ul.AHE FARMERS EXTENSION DITCH CO/WV <br />"'....-->... ~\t fiUG G 1985 W. ANNUAL STOCKHOLDERS MEETING. <br /> <br />COLORADO W,qiTlM Ma rch 2, 1985 <br />CJ\w.r"'''~-''!O~1 P')lif~~ <br /> <br />The Annual Meeting of the Farmers Extension Ditch Company was held on the above date <br />pursuant to the fOllowing notice mailed February 2, 1985: <br /> <br />"The annual ,meeting of the stockholders of the Farmers Extension Ditch Company will <br />be held Saturday, March 2, 1985, at 2:00 p.m. at the Firehouse in Johnstown, Colorado, <br />for the purpose of electing a Board of Directors for the ensuing year and for the <br />transaction of any other business that may properly come before the meeting." <br /> <br />President Glen Anderson called the meeting to order; 343.7 shares were represented in <br />person or by proxy -- a Quorum was declared. The minutes of the 1984 meeting and the <br />financial report were read, discussed, and approved. <br /> <br />Our liability insurance covers Farmers Extension Ditch and auxiliary ditches and the <br />Boards of said ditches to $1,000,000.00. <br /> <br />The design on Phase VI was incorrect as presented by the engineers; this is being <br />revised which will, consequently, change the total cost of the project, but the price <br />should remain close to the existing Phase VI estimate. (The assessment schedule for <br />the 1985 Farmers Extension Ditch Company is as follows:) <br /> <br />Interest payments to Colorado Water Conservation Board. <br /> <br />Phase 1 & 2 $ 6,489.00 <br />Phase 3 & 4 9,517.20 <br />Phase 5 7,678.65 <br /> <br />Total $23,684.85 <br /> <br />Less Highland Lake Payment -$ 3,160.59 <br /> <br />Farmers Extension $20,524.26 624 = <br /> <br />Regular Operating Assessment <br />Sub-Total Assessment <br />Construction Assessment with ASCS <br /> <br />$32.89/share <br /> <br />$18.00/share <br />$50.89/share <br /> <br />($388,000 estimated) <br /> <br />for pipe, etc., in County <br />Right-Of-Way <br /> <br />Highland Lake Lateral amount undetermined; approximately $8,000: <br />$407,718.17 + 2 = $203,859.08 paid by stockholders <br />$203.859.08 + 624 Shares = $326.69/share <br /> <br />ASCS monies available: <br />$194,499 - $1,886.64 Highland Lake Internal Share <br />$192,612.36 + 624 Shares '= $308.67/Share <br /> <br />Phase 6 <br />Weld County Payment <br /> <br />Repayment <br />$428.022.78 <br />12,304.61 <br /> <br />Total Assessment <br />Repayment by ASCS <br />Net Assessment <br /> <br />$377. 58/Share <br />$308.67/Share <br />$ 68.91/Share <br /> <br />This schedule was explained by Glen; he also <br />ditch lining -- the entire Farmers Extension <br />before the Spring,run this May. <br /> <br />reported on the progress of the remaining <br />Ditch lining project should be completed <br />