HomeMy WebLinkAboutMinutes - North Fork Water Company - 06/02/1964SPECIAL MEETING OF THE BOARD OF DIRECTORS OF
NORTH FORK WATER COMPANY
held June 2, 1994
A special Meeting of the Board of Directors of North Fork Water Company
was held this 2nd day of June, 1964, at 10:30 o'clock A.M., at the office of
the F~st Highlands Orange Co, any, 7125 Elder C~lch Ro~d, in East Highlands,
California.
Present: Directors Gordon W. Corwin, Paul R. Jennings, Stanley L. Poppett,
Jane S. Hamilton, Henry E. Guerth and Arnold L. Wright.
Absent: Director Herman L. Carter.
The minutes of the Regular Directors Meeting, held March 27, 1964, were
approved as read.
It ~s moved by Paul R. Jennings and seconded by Jena S. Hamilton that
the following Resolution be adopted:
BE IT AND IT HEREBY IS RESOLVED as follows:
FIRST: That *.bis corpora*,ion levy an assessment (No. 110) on all of the
issued and o~tstanding shares of this corporation, which assessment shall
be in the amount of Two Dollars ($2.00).
SECOND: Said assessment shall be payable to the Secretary of this corporation,
John R. Poppett, at 27860 Atlantic Avenue, Highland, California.
THIRD: July 31, 1964, is hereby fixed as the day on which any unpaid assess-
ment shall become delinq~ent.
FOURTH: August 2S, 1964, is hereby fixed as the day for the sale of any
delinquent shares.
FIFTH: 10:00 o'clock A.M., at 27860 Atlantic Avenue, Highland, San Bernardino
Co~n~.y, California, is hereby fixed as the hour and place of said sale.
THE MOTION CARRIED AND THE HESOLUTION WAS DECLARED ADOPTED.
President Corwin read a letter from John B. Surr, Attorney, regarding the
eventual elimination of the existing fractional shares of the Company and
containing a draOt of a letter to be sent to the holders of fractional shares.
After discussion, it was moved by Henry Guerth and seconded by Arnold
Wright that the following resolution be adopted:
RESOLVED, that the Secretary of this cor~ oration, NORTH FORK WATER
COMPANY, be and he is hereby directed henceforth not to issue any stock
certificate for any fraction of a share except in those cases where there
is a transfer of a fraction of a share now outs*.anding. In the case of
transfer of s~ch outstanding fractional share there shall be no further
subdivision thereof, or change therein, except as the secretary may deem
that a simpler fr~ction will result therefrom. It is further provided
that a whole share or shares may be divided into frac~,ions for the purpose
of transferring s~ch fractions to shareholders holding fractional shares
and thereby consolidating fractional shares into whole shares".
THE MOTION CAR?lED AND THE RESOLUTION WAS DECLARED ADOPTED.
N? O3
The secretary was directed to advise John B. Snrr to mail the letter
to the holders of fractional shares, as drafted, with the price placed upon
the shares deleted. The Board recon~ended that the price be paid for
fractional shares be eliminated from the letter.
The secretary stated that L~on Stafford, Intake Zanjero, was not
receiving a vacation with pay.
It ~as moved by Pa~l R. Jennings and seconded by Stanley L. Poppett
that Leon Stafford be given his vacation with pay.
THE MOTION CARRIED.
The secretary announced that the State Compensation Insurance Fund
carried the salaries of the president end secretary at $5,200.00 per year
each at a clerical rate of approximately 36~, but since the secretary was
also employed as a Zanjero, the rate on him would be approximately $A.20.
NO ACTION WAS TAEEN.
The secretary stated that Pete Fuentes would take over the operation
of the New Well #4. It was agreed that the rate for the operation of the (Amended)
well would be continued at $1.00 per day. (10-26-1964)
There being no further business, on motion the meeting was declared
adjourned.