The meeting was called to order by Mike Deck at 4:03 PM. Those in attendance were the board members (Mike Deck, Bob Ristinen, Bob Farmer and Bob Champ), Richard Lyons (Legal) and Terry Kenyon (Engineering). Bill Barclay (board member) was excused due to business travel.

Secretary’s Report:

The minutes of the previous meeting (20 March 2000) were discussed and a motion was made by Bob Farmer that we approve the minutes of the meeting. The motion was seconded by Bob Ristinen and approved unanimously.

Treasurers Report:

Bob Farmer handed out a balance sheet showing that our assets are $1,984,378.69. Possible investment directions were discussed. CD’s are running about 6.7% and Colotrust is paying 6% on the bond proceeds. It was decided to keep the bond proceeds in the Colotrust Plus account for the time being. Checks were signed paying various bills, among them our legal fees to date ($10,822.50) and water engineering fees to date ($16,999.00). Detailed accounting was incorporated in the handout.

Old Business:

Boundary: Mike met with Cindy Domenico to finalize the Water District Boundaries. The county approved a service plan to service certain properties. The court then approved a service plan, which we believed was the same as the county’s service plan. Unfortunately, six properties are in question between the county plan and the court-approved plan with respect to their inclusion/exclusion in the district. Mike Deck and Dick Lyons are working to finalize the correct boundaries with respect to the county and the court.

IGA: Mike gave an update on the status of the IGA with Lafayette. A list of questions was submitted to Lafayette and their answers were incorporated in a handout. Most of the questions dealt with clarifications to the IGA and only two involved changes to the IGA. Because Lafayette Public Works will be approaching Lafayette City Council in early July to raise water fees and charges we have been in discussions (Bill Barclay and Doug Short) with Lafayette as to how we can fix our agreed upon start up costs. Negotiations currently revolve around the number of taps and an installment plan to pay for these taps. Mike Deck created a handout, which summarized a scenario for discussion purposes, as to how we can effect such a payment plan. Lafayette would like a payment plan whereby installments would be paid on 6/1/00, 9/1/00 and 1/1/01. If the district pays all of the tap fee and water rights for the charter taps a cash flow problem could exist. The number of charter taps was discussed and it was decided that it would be prudent to allow for 100 charter taps. Also, because time is of the essence, it was decided that we should resolve this matter with Lafayette in an expeditious manner. To do this, Bob Farmer made a motion that we authorize Mike Deck to negotiate and execute an IGA agreement with Lafayette, which would incorporate an appropriate payment plan as a modification. The motion was seconded by Bob Ristinen and approved unanimously. Mike will set up a meeting with Lafayette (Doug Short and attorney Pat Tisdale) and EBCWD (Mike, Dick Lyons) to finalize the IGA. Once the IGA is finalized the District members will be informed and the method for payment of the tap fee will be communicated to them.

Engineering: Terry Kenyon submitted a contract for Engineering Services, which had been reviewed by our legal counsel. A discussion on the contract ensued and it was decided that the contract was reasonable. A motion was made by Bob Farmer that we execute the agreement with McLaughlin Water Engineers as revised by our legal counsel. The motion was seconded by Bob Ristinen and passed unanimously. Terry stated that he would start the soil investigation portion of the work.

New Business

By-Laws: Dick Lyons explained the by-laws to the board by going through them section by section. The administrative offices were to be designated at Bob Farmer’s address at 996 Paragon Drive, Boulder, 80303. Other changes and additions were noted and Dick Lyons will modify the by-laws accordingly prior to their being adopted.

Adjourn:

A motion was made to adjourn by Bob Ristenin, seconded by Bob Farmer, unanimously approved and the meeting was adjourned at 6:00 PM.

The above is submitted by the secretary…Bob Champ, April 18, 2000.