Laserfiche WebLink
<br />.. <br /> <br />. <br /> <br />. <br /> <br />Excerpt of Minutes ofa Board of Directors Meeting <br />The Water Supply and Storage Company <br />July 11,2001 <br /> <br />The President brought the Board of Directors up to date on the status ofa loan <br />from the Colorado Water Conservation Board to The Tunnel Water Company, of which <br />The Water Supply and Storage Company is a shareholder. The loan will be in the <br />amount of$2,080,000, or such actual amount as needed to finance up to 90 percent of the <br />costs to repair a portion of the Laramie-Poudre Tunnel. Water rights of The Tunnel <br />Water Company and the easement in the Laramie-Poudre Tunnel are to be included as <br />collateral to secure the loan. The President stated that a meeting of the shareholders of <br />The Tunnel Water Company will be held in the near future. The purpose of the Tunnel <br />shareholders meeting is to vote on whether to accept the secured loan, and it is <br />anticipated that the resolutions in the same or similar form as those which are attached to <br />these minutes would be presented to The Tunnel Water Company shareholders for <br />consideration. Similarly, the Directors of The Tunnel Water Company would be asked to <br />consider and vote on the resolutions, or similar ones, which are attached to these minutes. <br /> <br />The Board of Directors of The Water Supply and Storage Company entered into <br />discussion. Following discussion, upon motion, second and unanimous vote, the <br />following resolutions were duly passed: <br /> <br />RESOLVED that Fred Walker, Tom Moore and George Vadakin, or any of them, <br />are authorized to attend a shareholders' meeting of The Tunnel Water Company which <br />will be held in the near future, as an authorized representative of The Water Supply and <br />Storage Company and to cast votes represented by all shares of stock of The Tunnel <br />Water Company owned by The Water Supply and Storage Company, at said meeting. <br /> <br />RESOLVED that on behalf of The Water Supply and Storage Company, Fred <br />Walker, Tom Moore and George Vadakin, or any of them, are authorized to vote in favor <br />of the resolutions in the form which is the same or similar to the resolutions attached to <br />these minutes, and to take any other action or vote to authorize any act, at said meeting. <br /> <br />, <br />RESOLVED that real or personal property (including water rights known as and <br />decreed as the Laramie-River System of The Tunnel Water Company and an easement <br />for the Laramie-Poudre Tunnel) may be pledged as collateral for said loan. <br />