Laserfiche WebLink
<br />... <br /> <br />. <br /> <br />. <br /> <br />" <br /> <br />Excerpt of Minutes of a Board of Directors Meeting <br />Windsor Reservoir and Canal Company <br /> <br />The President brought the Board of Directors up to date on the status of a loan <br />from the Colorado Water Conservation Board to The Tunnel Water Company, of which <br />the Windsor Reservoir and Canal 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 will be 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, at a Tunnel Board of Directors meeting the Directors of The <br />Tunnel Water Company will be asked to consider and vote on the resolutions, or similar <br />ones, which are attached to these minutes. <br /> <br />The Board of Directors of the Windsor Reservoir and Canal Company entered into <br />discussion. Following discussion, upon motion, second and unanimous vote, the <br />following resolutions were duly passed: <br /> <br />RESOLVED that Elmer Gustafson and Perry Hay thorn, or either of them, are <br />authorized to attend a shareholders' meeting of The Tunnel Water Company which will <br />be held in the near future, as an authorized representative of the Windsor Reservoir and <br />Canal Company and to cast votes represented by all shares of stock of The Tunnel Water <br />Company owned by Windsor Reservoir and Canal Company, at said meeting. <br /> <br />RESOL VED that on behalf of the Windsor Reservoir and Canal Company, Elmer <br />Gustafson and Perry Hay thorn, or either of them, are authorized to vote in favor of the <br />resolutions in the form which is the same or similar to the resolutions attached to these <br />minutes, and to take any other action or vote to authorize any act, at said meeting. <br /> <br />RESOLVED that real or personal properly (including water rights known as and <br />decreed as the Laramie-Poudre System or The Tunnel Water Company and an easement <br />for the Laramie-Poudre Tunnel) may be pledged as collateral for said loan. <br /> <br />wrf\ws&s\tunnel water compally\mtg of windsor reservoir 2.doe <br />