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<br />. <br /> <br />. <br /> <br />JACKSON lAKE RES. & IRRIG. CO. <br />Annual Stockholders Meeting (continued) <br />February 10. 2001 <br /> <br />The 2000 Receipt and Disbursement Report was reviewed. Fritzler stated that <br />the Board's recommended budget calls for a $55.60 per share regular assessment, and <br />a 3(1.year special assessment of $14.40 to make the annual payments on the diversion <br />loan. There was discussion regarding this being such a tight budget and that maybe It <br />would be better to set the regular assessments a little higher to build up a little reserve. <br />After discussion, Allyn Wind moved to approve the report and the recommended budget, <br />but to set the regular assessments at $65.60, for a total assessment of $80.00 per <br />share. Wade Castor seconded the motion and the motion carried. <br />At this time, Fritzler announced that the Company had hired a new <br />superintendent, Ken BOhl, and a new headgate person, Mike Perry. <br />Fritzler called for other business, and hearing none, he called for a report from <br />the Nominating Committee. Steve Bolinger, speaking for the committee of himself and <br />Phil Mortensen, nominated the current Board of EClward E. Fritzler, Harold Griffith, Robert <br />Hansen, Phil Mortensen and himself. Fritzler called for other nominations. Allyn Wind <br />moved that the nominations cease and the secretary cast a unanimous ballot electing <br />the nominees. Delmar Zwirn seconded the motion and the motion carried, <br />There being no further business to come before the stockholders at this time, <br />Allyn Wind moved to adjourn the meeting. Phil Mortensen seconded the motion and the <br />motion carried, The meeting adjourned at 10:00 a.m. <br /> <br />RespectfUlly submitted, <br /> <br />Cynthia Vassios <br /> <br />February 10, 2001 <br /> <br />The newly elected Board of Directors of the Jackson Lake Reservoir and Irrigation <br />Company met immediately following the annual stockholders meeting. President Fritzler <br />called the meeting to order at 10:10 a.m. with all directors present. <br />The secretary called for nominations for President Griffith moved that the <br />officers remain the same (president Fritzler, vice-president Griffith, secretary/treasurer <br />Bolinger), that the employees be retained as budgeted, that the Community First Bank <br />remain the official depository, and that Fritzler be authorized to sign a letter to Anderson, <br />Lee & Company stating that the COmpany has made all records available to them for <br />their audit. Mortensen seconded the motion and the motion carried. <br />Two resolutions were presented: one to Increase the diversion loan amount and <br />one to borrow funds necessary for the dam project. After discussion, Bolinger moved to <br />adopt the resolutions. Hansen seconded the motion and the motion carried, (Copies of <br />these resolutions are maCle part of the minutes.) <br />There was discussion regarding topping off the iake soon and having a meeting <br />with Jim Ferentchak to Cliscuss the dam project. <br />There being no further bUsiness, the meeting adjourned at 10:45 a.m. <br />Respectfully submitted. <br /> <br />CynthIa Vasslos <br />