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<br />. <br /> <br />., <br /> <br />. ~ <br /> <br />Elmwood Lateral Ditch Company, Inc. <br />Fruita, Colorado <br /> <br />A special General Membership Meeting of the Elmwood Lateral Ditch CO., <br />Inc., was called to order at 7:30 p.m., November 3,1993, at 101 McCune, Fruita, <br />CO., 81521, by President Joe Newman. Present were those on the attached <br />attendance record. A quorum of 682 shares was present, either in person or by <br />proxy. The President stated the reason for the meeting being called and Bernie <br />Rowles read a prepared statement, approved by the Board of Directors, as to why <br />they thought the project should be approved. <br />Following this presentation a general discussion, and a question and <br />answer period was held with representatives ofthe Soil and Conservation Service <br />present to answer technical questions. Some of the topic discussed were <br />financing, methods of dividing costs among shareholders, warranties, number <br />and range of bids, provisions for future expansion, etc. <br />Fred Beyeler moved that the project be approved; that each turnout device <br />be paid forby the shareholder(s) served; that $4,000.00 from the existing checking <br />account be used to reduce the shareholders' portion of the costs; that the <br />remaining and the remaining balance be divided equally on a per share basis <br />among the remaining shareholdersof record (752; that any new or existing user <br />wishing to increase the number of shares in the system must be approved by the <br />Board of Directors and pay a proportionate share of the construction cost, <br />retroactive to the first day of January, 1994, and that the Board of Directors be <br />authorized to award the bid. The motioned was seconded by Joe Silva and passed <br />by a vote of 595 to 87. Voting against the motion were Dan Johnson and Orchard <br />Valley HOA. The Orchard ValIey HOA requested they their prepared statement be <br />made a part of the minutes (See attachment #2). <br />'. <br />Meeting adjourned at 9:20 p.m. <br /> <br />ATTEST: <br /> <br />ELMWOOD LATERAL DITCH CO. <br /> <br />Irv{ ~ ~ <br /> <br />Secretary <br /> <br />BY <br /> <br /> <br />, +c';3 <br /> <br />, <br /> <br />~ . <br /> <br />:3tJP/PA-r /.,=J'Z;-/VI!? /?.97" <br /> <br />-/fIr17.V~5/ /'! >- /!71-;Np /1/..( JJ 5~cC.- <br />(SEAL:)-v-v-.. : ~ . ? /_ ./ <br />:- .. ~:;:-. ~~~ <br />/ ~..~.:.:.-~~::,";:" ~':;",eT ~//.8?/c:.. <br />