PROJ00519 - Laserfiche WebLink

Home Browse Search

I I I I I I I I I I I I I I I I I I I Woodward-Clyde Consultants 2.3 POWERS AND AUTHORITIES OF THE ORGANIZATION The Windsor Reservoir and Canal Company has the authority to make assessment on the stock in the company. The Company Board, has the authority to enter into contractual arrangements and the authority to vest title to the project (or a portion thereof) in the CWCB. The Company does not have the right to eminent domain. 2.4 FINANCIAL STATUS Copies of the Windsor Reservoir and Canal Company's balance sheets and cash balances for 1988 and 1989 are contained in Appendix B. A summary of the cash receipts and disbursements statements for 1988 and 1989 is presented in Table 2-1. Windsor Reservoir and Canal Company (WRCC) balance sheets submitted with their tax filings for 1988 and 1989 are summarized in Table 2-2. It should be noted that WRCC began increasing assessments on the stocks in 1989 in anticipation of construction costs related to rehabilitation of the Douglas Dam spillway. 2.5 PHYSICAL ASSETS The Windsor Reservoir and Canal Company owns seven reservoirs which store, in total, about 64,270 acre-feet of water including dead pool storage. The reservoirs and their respective storage are listed in Table 2-3. The Windsor Reservoir and Canal Company also owns one-third of the Tunnel Water Company. Physical assets include one-half ownership in six pickup trucks with a collective estimated value of $31,500 and six pieces of miscellaneous equipment and machinery with an estimated value of $31,500. The Windsor Reservoir and Canal Company has full ownership of a 1980 Chevy 4x4 truck. The Company also owns four dwellings with an assessed total value of $113,000 and four garages/sheds with an assessed total value of $16,000. Physical assets also include one half of the company office equipment valued at approximately $2,500. 22539G/DOUGLAS.DAM 12-17.90IREPORTS3 9 .