BIG WOOD CANAL COMPANY
AMERICAN FALLS RESERVOIR DIST. NO. 2
WHEREAS, it has come to the attention of the Board of Directors of the Big Wood Canal Company (hereinafter BWCC) that there are, from time to time, persons not owning water who wish to lease water; and,
WHEREAS, it is difficult, if not impossible, for the BWCC to lease water to persons not having water already appurtenant to their property and a proper delivery device; and,
WHEREAS, it is the intent of the BWCC to set a policy regarding leasing water delivered by the BWCC.
THEREFORE, AFTER DISCUSSION, THE FOLLOWING POLICY IS HEREBY ADOPTED BY BWCC.
1. In order for any person, firm, individual, corporation or other entity, who desires to lease water from a current stockholder in BWCC, the proposed Lessee must own at least one (1) full share of water.
2. The Lessee shall also have an appropriate delivery device in place for measuring of any water leased.
3. If a stockholder is in arrears BWCC may lease water to other stockholders with the consent of the stockholder in arrears.
4. Any stockholder in a community ditch or lateral needs written permission from all other users in the community ditch or lateral prior to BWCC allowing the transfer or leasing of shares into, or out of, such community ditch or lateral. The members in the community ditch or lateral shall be responsible for monitoring delivery after BWCC delivers to the headgate of the community ditch or lateral.
ADOPTED THIS 4 day of September, 2007 by the Big Wood Board of Directors.