Annual Shareholder Meeting Update
May 03, 2019
The Board of Directors of Sheep Creek Water Company will be discussing the Source Capacity Violation along with the Alternative Options to bring Sheep Creek into Compliance. Voting on Agenda Item IV b will be postponed at this time along with Agenda item IV d to move forward with Well #12. Both of these items will be discussed during the Annual Shareholders Meeting on May 11, 2019. The Board of Directors continue to evaluate the best option and gather the necessary information to bring to the Shareholders so that the best option can be approved. The Board has formed a Committee of 2 Board Members and a Community Member to meet with the PPHCSD Engineering Committee to discuss the option of consolidation. At this time the Committee has met with PPHCSD and is preparing a plan to present to PPHCSD. The Board of Directors need to determine a value of the shares and determine if and how the shares will be bought out. Financing options are also being evaluated as to what Sheep Creek may qualify for with low interest loans or grants. Once the Board has the necessary information to present to the Shareholders, a Special Meeting of the Shareholders will be called. As of now, a special meeting will be held during the month of September 2019. At the time of the Special Meeting, the vote will go forward with the options of drilling additional wells and remain a private water company or consolidate Sheep Creek Water Company with PPHCSD.
Reminder: The Annual Shareholder Meeting is being held at Pinon Mesa Middle School 9298 Sheep Creek Road Phelan, CA 92371