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 annuPl until paid. That no \onter shall be deliver'-
ed to any stockholder on his stock \:hile he is in default. in payment
of his assessment" or ClOy lJOl't,ior\ ~ :Hcreof; and that the company slnll
have the benefit of all tf18 1'1"'; co' '.: :ir fOI'ce rc.spectinlS LI,e sale
and foreiture of st.ock in lein Lher-,,"f; for non-payment of -,G~:essments
or any portion thereof; Carried.
The repayment snrtroct for i'aJ'L Creek \\'dS discussed.
oecretary read the follow:in~ r~solution;
;-RK:iOLVE'l that the President l{fd ;:ecretary of the i~orth Poudre
clrrigation Co~pany be and they are hereby authorized and directed
4.tO execute a contract substantialv in the form of R.S.O. draft dated
.. December 14, 1966, with the United Jtates for a :imal! Reclamation
rfroject Act Loan not to exceed ~95~,000.00 as approved by the
'":Secretary of the Interior February 9, 1966, for construction of fark
Creek Dam and improvements to Halli::an lieservoir.
BE IT JiURTHEf( rLJ~.::iOLVED that the Bo ,I'd of Llirectors of this com-
pal1lY shall have the right to aGree to mi nqr chan,,;es in the contract
whi ch shall in any event, provide for the repayment, of the loan in
50 years without interest except t!.at intErest shall be paid at the
rate of 3~7o per annum on the portion of the unnaid 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.
}\,oved by Kay iielker seconded by ',.alter Dalke that Vie adopt this
resolution. Carried.
hoved by Fred Hluver seconded by Roy Portner to retess till
5:05 P.M. Carried.
President :;eavwrth called the meeting to order at 5: 05 !' .If!. ,
ordered the ballot box closed and the credential comnittee to start
the count; credential [e-mail] the folloViin~ count;
Harlan SeaViorth - 6M:s. 7 !,<.:"
}hillip Schnorr - 5792.85
Ed Sandy 24~.45
Moved by Robert Steiben seconded by Karl Veiss that we accept
this count and declair the two hi~h elected for 3 year terms. Carried.
Moved by Earl Weiss seconded-by Earl Hoff that the company serve
lunch again in 1968. Carried.
]'.;oved by Earl Hoff seconded by Robert ::>teil,en to adjourn.
Carried.

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/Har Ian Sea worth j P liEj I DEN T

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La,:rence F. Cox; li:GH. SECRETARY