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<br />.--.- . .".....1 rV'\ Uf- ....l;.Jl;.J '.......--.- <br /> <br /> <br />Ir <br /> <br />e( <br /> <br />.. <br /> <br />lHENoRTHER~lRuslCOMPA~Y <br /> <br />PJlPTY 501fTn l.A SAI.I.1t 8'11'RBET <br /> <br />. <br /> <br />CnlCA.GO. II.1,tNOl8 60675 <br /> <br />TEl.E.....Ot4& 4 :ual .SO..OOO <br /> <br />January 5, 1995 <br /> <br />BY FEDERAL EXPRESS <br /> <br />Mr. Paul McDill <br />Morgan COWlty Quality Water District <br />P. O. 130x 1218 <br />Fort Morgan, Colorado 80701 <br /> <br />Dear Mr. McDill: <br /> <br />I'm sending this letter Federal Express to assure its prompt delivery to you. <br />Because my attempts at correspondence with Morgan COWlty QualityWater District <br />during the past two years llllvc gone unanswered, I'm concerned that our postal system is <br />brokcn nearly beyond repair. <br /> <br />A recl1p of recent history seems important as we consider how to make <br />certain the relationship between the I' Quarter Circle Ranch "Iamily" and the District cun <br />be perpetuated or modilied to servc the best intercsts of both parties. <br /> <br />. <br /> <br />Anne Seyfried, Bob Scyfried, Ross Seyfried and ] met with you, two other <br />MCQWD board mcmbers and Don McClary in Don's office on November 9,1992. At <br />that timc, the District presented a chart showing, the value of substituting a $1,500.000 <br />municipal bond portfolio for our water well ownership. By letter to Don McClary dated <br />Novembcr 25, 1992, J returned the District's chart adjusting our water receipts progression <br />for inflation in five ycar inercments which produced a much larger valuation figure for <br />our Hay Gulch wells. Nonetheless, the door had been opened for meaningful negotia- <br />tions regarding thc possibility for selling our wells. <br /> <br />Mr, McClary responded Dccember 4, 1992, seeking some clarification of <br />my November 25 letter, My lctter of Decembcr 7,1992 on"t,red that clarification, We <br />exprcssed the desire to avoid being a creditor of thc District and I might add that, givcn <br />all of our relevant investment circumstances, a heavy commitment to municipal bonds <br />would not reflect our best investment judgment for the family Northern Trust is serving <br />a.~ trustee. Once again, though, we considered the ncgotiation door ajar. However. my <br />December 7 fetter was unanswered. <br /> <br />. <br /> <br />JAN 136 '95 139:135 <br /> <br />14712634 <br /> <br />PA':iE.132 <br />