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<br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br /> <br />· Develop, evaluate, and finalize the dam and reservoir design to meet the eolorado Water <br />Conservation Board's (eWCB) feasibility study requirements; <br /> <br />· Derive a construction cost estimate based on current regional material, labor, and <br />equipment unit prices and other relevant factors influencing overall construction costs; <br />and <br /> <br />· Evaluate the feasibility of the project's financial program. <br /> <br />3.0 eORPORATE PROFILE <br /> <br />3.1 History <br /> <br />The Minnesota eanal and Reservoir Company (MeRe) was established as a non-profit <br />organization on March 28, 1927. A copy of MeRe's incorporation certificate is provided in <br />Appendix A. As an irrigation water supplier to eolorado's Western Slope, MeRe owns and <br />operates dams, reservoirs, canals, irrigation ditches, and other water diversion facilities. <br />MCRC's decreed water rights on the Dry Fork of Minnesota ereek date back to 1887 and <br />account for nearly one-half of the eompany's water diversion rights. <br /> <br />3.2 Corporate Representation <br /> <br />The MeRe is comprised of 144 shareholders with control of 1,700 shares of water in the <br />eompany. The Company shareholders are predominantly private individuals. A list of <br />individual shareholders and the number of shares owned by each Company member are tabulated <br />in Appendix A. eurrent MeRe officers are as follows: <br /> <br />President: <br />Vice President: <br />Secretary: <br />Board Member: <br />Board Member: <br /> <br />Mr. Grant Farnsworth <br />Mr. David Johnston <br />Mr. Neil Thompson <br />Mr. Dennis Unman <br />Mr. Herbert Simpson <br /> <br />3.3 Powers and Authorities <br /> <br />The MCRe is a non-profit Corporation, and as such, the eompany's powers and authorities are <br />limited. The eompany does have the right of eminent domain. As a corporation, the Company <br />has the authority to enter into contractual arrangements with the eolorado Water Conservation <br />Board and the authority to vest title to the project, or a portion thereof, in the Colorado Water <br />eonservation Board. <br /> <br />2 <br />