The Annual Meeting of the Sheep Creek Mutual Water Company will be held in the Pinon Mesa Middle School Multipurpose Room on May 6, 2023 at 10:00 am.
At this year’s meeting the Board will be presenting updates on the failed consolidation with PPHCSD and the State issued compliance order and meter moratorium requiring the production of more water by drilling additional wells.
Additionally, the Board will present the details of a new “Future Share Program” that is designed to increase the value of Sheep Creek Shares from which the sales of the shares will help pay for upgrades to the water system. The idea is for the company to buy back shares at $1100 and sell them for $3,250. The agenda item states that Tier 3 revenue will fund this program, however, the priorities of Tier 3 will remain to pay for additional wells and fund $200,000 for system upgrades.
Lastly, Board elections will be held. This year seems to be a particularly heated with several potential candidates campaigning for positions on the Board. Topics of concern include the recurring debate over paying for water system operations and upgrades through share assessments and/or per meter and the establishment of Tier 3. This Tier was established for shareholders that use more than their shares worth of water.
