[HollyMutual-Announce] Holly Mutual Important Notices

[Holly Mutual Water Company]

All:

Just to keep everyone up to date, please read all of the following:

*Annual Shareholders' Meeting Scheduled*

Please mark your calendars for May 21, 2025 from 7:00-9:00 pm in the City Council Chambers at the Cherry Hills Village City Hall. A physical notice of this meeting will soon be sent to you by postal mail. This is our first post-pandemic attempt to hold our annual meeting in person. We are checking into the feasibility of simultaneously providing this as a Zoom meeting for those who are out-of-town or otherwise unable to physically attend. There is at least one empty Board of Directors position that needs to be filled, and all Board positions are up for election. Our biggest problem with these meetings has always been achieving a quorum, which requires official representatives for half of our 48 land parcels to be present or represented by proxy. If you will not be able to attend or are unsure, please assign your proxy to someone who will be there. All board members are willing to act as proxies if requested. You can assign a proxy by (1) simply replying to this email address 
and indicating who will act as your proxy if you are not present, or (2) providing a signed physical proxy assignment for that person to present at the meeting. We hope to see all of you there!

*Spring System Activation*

The Whitehall Well repairs were completed over the winter and we are planning for full operation this year. As part of the yearly commissioning, Colorado Water Well (CWW) investigated a leak near 6445 Greenbriar Dr a couple of weeks ago. An attempt to fix it led to the discovery that the leak is under the street, which requires additional permitting and work. The contractor was immediately approved to move forward on this and CWW believes that the leak will be fixed before our official April 16th system startup. However if it is not, CWW will isolate the affected part of the pipeline with street valves so that all but a few properties will have functioning water. Either way we expect full operation soon. Water will be provided 24 hours a day initially to allow your irrigation companies to turn on and test your system operation during daylight hours. However you are still only allowed to irrigate on your assigned two mornings each week from 3:00-10:00 am. Once all properties 
have water and enough time to activate their irrigation systems, we will change the well timers to only provide water during the official irrigation times.

*Past Due Billing Policy Change*

There has been an uptick in the number of accounts with unpaid past due billings. To keep our costs low, we depend on everyone to make their quarterly payments. At the same time we have also been reluctant to institute any formal late fees/interest. Unfortunately our accountant has reported that her multiple attempts to get the delinquent accounts paid has not worked. Thus starting with the next billing period (ie. through June 30), we will be charging a 5% late fee for that and each subsequent period where an unpaid balance exists. We have been advised by Denver Water that this is the same policy they follow. To avoid any late charges, please catch up on any unpaid balances before that time.

Cheers,
Mark Derbyshire

President, Holly Mutual Water Company