HomeMy WebLinkAboutMinutes - North Fork Water Company - 03/27/1970 (Annual Stockholders)ANNUAL I~ETING OF ~tE STOCKHOLDERS OF
NORTH FORK WATER
held March 27, 1970
Th~ Annual t~eting of the stockholders of the North Fork Water Company
was held this ~Tth day of ~ch, 1~.,,), at ~D,)O ~' ...... '
of the East ~gb~ands ~ang~ Company: at ~2~ Elder G~ch Road, in East
Hig~ands, ~lifornia.
The Secretary announced that a majority of th, stock of th~ Comply,
in excess of 3,600 shares, was represented by persons present holing sh~es,
d by proxies deposited. A Lat,r ci~eck of persons arrivi~g and depositing
prox'~es in.~cated that seven p~rsons pr~sent~ bol~ing 296 shares~ ~d proxies
in the maount of p~O~.6 s~:ares~ ac~o~t .... for a total o~ ~322 shares being
repr~ s~nte~.
The ilfeeting was d~clared open for business by iresJd:nt Pa~! R. J~nnlngs.
Th'~ .,~nat~s of th~ last .~n~l Stockholders ~metmna, held i'~[~ch 28, 1~6~,
wer~ approved as r~ad.
esident J~ings presen~d and discussed the ~nancial Report for the
scal Period ~n~ng Janu~y 31, 1970, as prepped by E adie and Payn~.
He noted that the assessments for the year had been extremely hish, in the
amount of $9~ ~r shoe, b~cause of th~ collapse of th~ "Savage~' T-~nel
and the r~s~ting cost of installing a st--~ ~p pe-l=ne to by-pass th~ tu~el.
After discussion, it was moved by Carl R. ~derson an~ s~conded by
nold L. Wright that th~ Financial Report be accepted ~d that the firm of
Eadie and Pa~e be authorized to aunt the Comply books and tp prepare the
Fi~ncial Report and Tax Reruns for the Fiscal Period Ending Janu~y 31~ 1971.
TH~ MOTION C~D.
Jennin6s ~scussed t~ Agreement of the Company with the ~ Valley
Mutual ~',at~r ~ompany whereby the ~nse of Canal Operations and Repairs
sh~ed jointly, one-half each, between the two Companies; ~d the Water Supply
Contract, both of which had b~en wry favorable to th~ Company over the many
years of o~ration. He stressed, that due to the leadership of past ~esidents
aha managers of ~ar Valley f,~utual ~...at~r Company and i,~a~ L. ~am of this
Company, a v~ry cool~mative relationship had always existed between the two
Companies. He f~ther sta~d that the ~ Valley Mutual Water Company ~d
paid ~1 the ex, nsc, in excess of ~38~000.00, in co~ection with the ~'Savage~'
Tu~el Tempor~y By-pass and th~ installation of the n~w ste~l pip~-line
until t~s Company could le~ and assessment and reimb~se them for one-half
th~ total costs.
John R. Poppett presented Rain-fall fights for ~ar Valley d~ing the
c~rent Season and the present out-look on water supply for the co~ng
sm~er. He noted that rain-fall in B~ Valley to date was o~y 18.~ inches
comp~ed to an averag~ normal to ~ch 31 of 33.0 inches~ and that the river
flow was o~y 3,200 inches comp~ed to a ft~' of some 12,000 inches at thi:~
date in 1969.
NO3fKNATiONS OF
No~nations for Directors of the Company for th~ ensuing ye~ were
d~clared open by ~sident Je~ngs.
over)
N.o 31
Annual Stockholders ~eting h~-l~ ]~.~arch 27~ 1970.
Elizabeth M. Kiel no~inated the presant Dire ctors~ na ~ely,
Carl R. Anderson, Henry E. Guerth, Harold G. Rick-~rt~ Paul R. Je~zaings~
Stuart ~. G~orge~ R. Bruce Jordan and ~notd L. '/~'right; and moved that
th~ n~minations b~ closed.
The ].~otion was seconded by Willim~ W. Totton.
There were no other no, nations.
T~ MOTION ~D and the Directors no~d wer~ decl~ed elected
to serve for the ensuing year.
There being no f~ther business, the m~ting was decl~d adjourned.
Signed~ ~q ~~~
ohn R. Poppett '[
Secret~y. ~