2009 Shareholders’ Meeting

Las Positas Mutual Water Company

Minutes of the Annual Shareholders' Meeting

June 9, 2009

Held at the First Baptist Church – Fellowship Hall

949 Veronica Spring Road

(Prepared by Dan Higgins, Secretary.)

At approximately 7:15PM, the annual LPMWC Shareholders meeting was called to order. Past President John Holehouse then introduced the new President, Jeff Childers and everyone present was asked to introduce themselves and indicate where they lived. Board member Rick Donovan announced that a quorum of shares was represented. (471 shares were represented out of a total of 759.)

LPMWC Secretary, Dan Higgins, noted that copies of the minutes from the 2008 Shareholders’ Meeting were available as handouts and asked for Shareholders to review those minutes for accuracy and completeness. It was moved and seconded that the minutes be approved and the motion pass unanimously.

Treasurer Alice Donovan then presented the Financial Report. The Balance Sheet as of June 8, 2009 showed $142,004 in the Money Market Checking account (Special Assessment account), $7,874 in the Regular Checking account, and $5,527 in the Savings account, for a total of $155,400. After a brief discussion, it was moved and seconded that the Treasurer’s report be accepted. The motion was unanimously approved.

Jeff Childers then presented a summary of things that need to be done by the water company. These included site grading, drilling of a new well, a water treatment system to reduce contaminants, and an upgraded electrical system. He asked if there was, by any chance, a registered engineer among the shareholders who might be interested in helping with a “Master Plan” of activities. There was no response from the attendees. He also asked if there were any shareholders who just wished to help. Colin Bell of 980 La Senda indicated he would be interested in this effort. A question was brought up about just where the well site is located. It was suggested that some time be established where shareholders could come and see the well site for themselves. It was agreed that this was a good idea and the Board would set up some date about a month after the Shareholders Meeting.

Jeff also reported on the tank corrosion problem that was corrected this past year at no cost to LPMWC under the warrantee of the new storage tanks.  (A yearly inspection indicated that corrosion was occurring inside the new tanks apparently due to improper installation. The problem was fixed by the installers/tank manufacturers.)

The next item of business was the election of Board members. It was pointed out that five Board members are elected by the Shareholders, and the Board then selects the officers of the Las Positas Mutual Water Company. Board members are all volunteers. Nominations were called for and it was moved that the current Board be re-elected. That motion was seconded and unanimously approved. The elected Board members are Jeff Childers, Rick Donovan, John Holehouse, Dan Higgins, and Layne Wheeler.

It was announced that we would not have a well operators report because our well operator, Lawrence Price, was unable to attend the meeting due to illness.

Under ‘New Business’, it was noted that large amounts of firewood was being stored on one of the parcels in our area and whether this might be a fire hazard. The Board responded that this was not really a LPMWC issue and the company had no knowledge about this. Another question was about visibility of fire hydrants. It was pointed out that LPMWC does not provide any fire protection and that fire hydrants are handled by the County and connected to Goleta Water District lines. (Note that the small hydrants one may see around the area are used for flushing LPMWC lines and are NOT planned for use by any responding fire companies.)

The final item of business was a discussion of the continuation of the Special Assessment. In light of all the capital improvement projects that were previously discussed, it was pointed out that we do still need to collect funds for these projects. It was also noted that out water costs are still low compared to what we would be paying under Goleta or Santa Barbara water districts. A continuation of the Special Assessment for one year was proposed, seconded, and unanimously approved.

The meeting was adjourned at about 8:00PM.