HomeMy WebLinkAboutMinutes - North Fork Water Company - 04/08/1971SPECIAL ~W. ETING OF THE BOARD OF DIRECTORS OF
NORTH FORK WATER COMPANY
held April 8, 1971
A Special Meeting of the Board of Directors of the North Fork Water Company
was held this 8th day of April, 1971, at 11:00 o'clock A.M., at the office of
the East Highlands Orange Company, 7125 Elder Gulch Road, in East Highlands,
alifornia.
Present: Directors Paul R. Jennings, Henry E. Guerth, Harold G. Rickert, Stuart
M. George, A. J. O'Farrell and Arnold L. Wright.
Absent:D~rector Carl R. Anderson
The Minutes of the last Special Directors ~eeting, held October 29, 1970,
were approved as read.
President Jennings read a letter from ~arl R. Anderson stating that he
had sold his property and requesting that his resignation as a member of the
Board be accepted.
It was moved by Arnold L. Wright and seconded by Henry E. Guerth that the
resignation of Carl R. Anderson be accepted.
THE MOTION CARRIED.
Nominations were declared open for the election of a member of the Board
of Directors to fill the existing vacancy.
It was moved by Arnold L. Wright and seconded by Stuart M. George that
Elizabeth M. Kiel be elected as a member of the Board of Directors.
There were no other nominations.
THE MOTION CARRIED and ELIZABETH M. KIEL WAS DECLARED ELECTED AS A DIRECTOR.
N~s. Ki~l was invited to he seated as a member of the Board of Directors
by President Jennings, who stated that ~rs. Kiel was the first Lady to have
ever been a member of the Board.
The Secretary presented an Estimate of Income and Expense for the next
six months to include October 1, 1971, as follows:
INGO~
Proposed Assessment, (No. 122), · $1.00 per share $ ?,200
Bear Valley ~nt. Water Co. - Canal Exp. Reimburse. 2~03~ $ 9,230
Add: Cash on Hand, April 8, 1971, 1~830
Total Estimated Income $ 11,060
EXPENSES
Joint Expense with Bear Valley ~utual Water Co. $ 5,181
orporatton Expense 1~046
Total - Estimated Expense $ 6,227
Add: Principal Payment due October 1, 1971, 3~438
Total Estimated Disbursements, 9~66~
ESTIMATED BALANce, October 1, 1971, $ 1,395
36
Special Meeting, held April 8, 1971.
The Secretary stated that no provision had been made for well operations
expense, since the Bear Valley ~tual Water Company had agreed to reimburse this
ompany for the expense of operation and repairs of the wells.
After discussion, it was moved by Harold G. Rickert and seconded by Stuart
George that the following Resolution be adopted:
BE IT AND IT HEREBY IS RESOLVED as follows:
FIRST: That this corporation leVY an assessment, (No. 122), on all of the issued
and outstamding shares of this corporation, which assessment shall be in the amount
of $ 1.O0 ~o~e Dollar)
SECOND: Said assessment shall be payable to the Secretary of this corporation,
wgaret C. Wright, at 29412 Water Street, East Highlands, California.
THIRD: May 28, 1971, is hereby fixed as the day on which any unpaid assessment
shall become delinquent.
FOURTH: June 25, 1971, is hereby fixed as the day for the sale of any delinquent
shares.
FIFTH: 10:OO o'clock A.M., at 29412 Water Street~ East Highlands, San Bernardino
County, Galifornia, is hereby fixed as the hour and place of said sale.
THE ~OTION ~.ARRIED AND ~tE RESOLUTION WAS IE6'LARED ADOPTED.
President Jennings read the Letter of Resignation of John R. Poppett, as
Secretary and Treasurer; and stated that in the last Annual Directors' Meeting
he had been authorized to find a replacement for the Secretary and Treasurer
and that ~rs. M~w~aret ~C. Wright had agreed to accept the appointment.
It was moved by Henry E. Guerth and seconded by Arnold L. Wright that the
resignation of John R. Poppett, as Secretary and Treasurer be accepted.
THE ~OTION OARRIED.
It was moved by Stuart ~. George and seconded by Henry E. Gusrth that ~s.
Margaret C. Wright be appointed as Secretary and T~easurer of the Company.
THE ;~OTION CARRIED.
President Jennings stated that the salary of the Secretary and Treasurer
would be $?5.00 per month as voted in the Annual Directors' Meeting.
After discussion, it was moved by Arnold L. Wright and seconded by Elizabeth
M. Kiel that the standard Bank of America Resolution be adopted and that the
authorized signatures on checks for withdrawing ~ompanY funds be those of any
two of four persons, namely; Paul R. Jennings, President and/or Henry E. Guerth,
Vice-President and/or Stuart ~. George, Director and/or Margaret C. Wright,
Secretary. (Copy of Bans of America Resolution on file).
THE ~OTION CARRIED.
There being no further business, the meeting was declared adjourned.