PROJC00608

• Contract/PO #: C153520
• Contractor Name: North Poudre Irrigation Company
• Contract Type: Loan
• Water District: 3
• County: Larimer
• Bill Number: SB 88-30
• Loan Projects - Doc Type: Contract Documents

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eight per cent per annum until paid. That no w~ter shall be deliver~
ed to any stockholder on his stock while he is in default in payment
of his assessments or dny portioD thereof; and that the company shall
have the benefit of all the la\.;s DC",: in force n;specting Lhe sale
and foreiture of stock in lein ther00f; for non-payment of ~ssessments
or any portion thereof; Carried.
The repayment r:ODtriict for i'ark Creek was discussed.
~ecretary read the following resolution;
RESOLVE,) that the President ani ;:ecretary of the iiorth Foudre
Irrigation Company be and they are hereby authorized and directed
to execute a contract substantialv in the form of R.S.O. draft dated
December 1/+, 1966, with the United Jtates for a .:>mall Reclamation
Project Act Loan not to exceed $952,000.00 as approved by the
Secretary of the Interior February 9, 1966, for construction of Park
Creek Dam and improvements to Halli ,:an Ileservoir.
BE IT FUItTHER Itr;.::iOLVED that the Bo ,rd of Directors of this com-
palllY shall have the right to aGree ,to minw changes in the contract
which shall in any event, provide for the repayment of the loan in
50 years w~thout interest except th~t interest shall be paid at the
rate of 3A~ per annum on the portion of the unpaid balance of the
loan obligation properly allocable (a) on an irri~ated acre ba~is
to the excess lands as defined pursuant to Reclamation Law and the
Small Reclamation Projects Act, and (b) on an acre foot basis to
such of the company's water supply as is used for municipal and
industrial purposes.
Moved by Kay \1elker seconded by ',.al ter Dalke that we adopt this
resolution. Carried.
r;joved by Fred Eluver seconded by Roy Fortner to recess till
5:05 P.M. Carried.
President .::ieaworth called the meeting to order at 5:05 P.M.,
ordered the ballot box closed and the credential co~nittee to start
the count; credential con@ittee reported the followinz count;
Harlan .::ieaworth - 6488.7 F-c.:1.,
, Phillip Schnorr - 5792.B5
Ed .::iandy 242.45
Moved by Robert Steiben seconded by Karl Weiss that we accept
this count and declair the two hi~h elected for 3 year terms. Carried.
l';loved by Karl Weiss seconded by Earl Hoff that the company serve
lunch again in 196B. Carried.
Moved by Earl Hoff seconded by Robert Steiben to adjourn.
Carried.

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/iiarlan Sea worth ; PIiEJIDENT

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Lairrrence F. Cox; EGh. SECRETARY

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