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<br />WOODCHUCK DITCH COMPANY
<br />Shareholder's meeting
<br />May 12, 2000
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<br />Meeting althe Routt County Court House Annex, called to order by presidenl, Joe Zimmennan, 7 P,M,
<br />Present: Chuck MacArthur, shareholder 57 Shares
<br />Harvey Maron, shareholder 30
<br />Roger Brown, shareholder 170
<br />Joe Zimmennan. shareholder 80
<br />Palsy Wilhelm, shareholder 67
<br />Hill Blackett, shareholder 20
<br />Rick Wilhelm, guesl
<br />Joe Walz, guest
<br />Shares represented by Proxy:
<br />Whileman School 90
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<br />SHEELER: Joe reported that the lawsuit with Sheeler has been settled out of court as follows:
<br />(1) $6.500 cash settlement. which has been paid, Original claim amounl was $22,000 plus,
<br />Attorney's fees were estimated at $16.000,
<br />(2) An emergency overflow musl be inslalled by October IS, 2000 down from Gunn Creek and
<br />up from Sheeler's property (on Sheeler's property),
<br />(3) A hcadgate must be installed al Gunn Creek by September 15, 2000, The dilch must be
<br />inspected every two days prior 10 the headga\e installation and every three days after
<br />instaJlalion,
<br />(4) The dilch must be lined through Sheeler's property by June 30, 2000,
<br />(5) Sheeler will install and second overflow devise updtich from ours as an additional safety
<br />precaution,
<br />To dale Roger Brown has spent $18,000 on attorney's fees and the Upper Yampa River Conservancy
<br />Dislrist has sent $10,000, Note lhat the money from Roger is a loan,
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<br />DISCUSSION: Roger feels it should be required that each shareholder have a gale altheir point of
<br />diversion, and thallhese gales should be purchased and installed by the shareholder, Suggests that no
<br />waler be turned out of the ditch without such gale,
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<br />Due 10 the Game Trails Slide it is unlikely that there will be water in the dilch this season. Roger
<br />suggested Ihat Ihere be a discussion with Whileman School that it the ditch doesn't run, no one has water,
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<br />GAME TRAILS SLIDE: The engineer's estimate 10 properly repair this area was $140,000 about two
<br />years ago, Probably Ihal figure would be $ISO/16O,000 allhis time, Roger suggested Ihat someone
<br />discusses the manner that this be bid with several contractors as well as with the Natural Resources
<br />Conservalion Service to facilitate bidding,
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<br />The NRCS has approximately $65/$80,000 available for this projecl, and the Upper Yampa Conservancy
<br />Dislrict has $40,000. The Dilch Company can borrow $40,000 from the Colorado Water Conservancy
<br />Board for 20 years al 3,75% interest The annual payments wonld be $2,878 wilh the first annual
<br />payrnenl due up front The conditions of the loan are that the Board of Directors musl vote to accept the
<br />loan and agree to pay it back.
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<br />Harvey Maron made a molion that the Woodchuck Ditch Corporation accept the loan, Roger Brown
<br />seconded, motion passed,
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<br />Roger Brown moved that the Board of Direclors borrow the money and agree to repay, Chuck MacArthur
<br />seconded the molion. motion passed,
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<br />OUTSTANDING Bll.LS:
<br />Ireland, Staplelon, Pryor & Pascoe, Attomeys al Law: due now $10,082,00
<br />Fees through April $27,447,14, more due after May,
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