December 2012 – update
December brought us some well needed snow! We were blessed with 9 inches of snow and followed up with 1-2 inches at Christmas. We are truly blessed.
The K Street project did not begin as anticipated due to prior commitments by Avalanche and the cold weather that followed the snows, however, work actually began 12/27/12. We were excited to see them start.
We have established the date and place for the 2013 annual shareholders meeting. The meeting will be held at the Penrose Elementary school gymnasium at 1:00 pm on February 23rd 2013. Please be advised that you will be receiving information regarding the meeting, proxy information and open positions on the Board of Directors. This year there are two positions that need to be filled. Information regarding the voting process will also be in your packet. Additionally there may be delinquent shares that may be auctioned off. Please put this date on your calendar as it is very important that all shareholders attend or send a proxy to complete the 51% quorum needed to make any transactions. If a quorum is not met, we will not be able to conduct any business. If we are not able to conduct business a fee of $5.00 per share will be assessed. It is your responsibility to make sure this does not happen.
Those share holders that have not paid your assessments continue to be charged interest on the outstanding balance monthly and may be in jeopardy of losing your shares if they are delinquent more than two years. Should you not be able to pay the entire balance, please come to the office and make arrangements for payments. It is not our intent or desire to auction delinquent shares; assessments must be paid in order to pay outstanding debts of Beaver Park Water Inc. Loans that must be paid total over $106,000. These loan commitments were made when Beaver Park Water was originally purchased and upgrades made to the system in order to provide the shareholders water during irrigations. The balance of the money goes towards to day to day operations, maintaining the system, equipment, and insurances need to protect Beaver Park Water, Inc. We currently have a total of $31,000 in delinquent status.
Have a safe and Happy
New
Year!
