Saddle Mountain Mutual Water Company
Each share of stock is subject to an annual assessment, which is based on whether shares are active household, inactive household or livestock. Active household shares are designated with a physical well in the ground and inactive shares do not have a physical well. Livestock shares are not considered active or inactive and have the same assessment amount whether or not livestock is currently being watered. Annual assessment amounts are approved by the shareholders each year at the Annual Meeting.
All fees and assessments collected go toward payment of expenses incurred by the company in administering the water augmentation plans. Officers and Directors volunteer their time and do not receive any compensation.
|Household-use only share:||$2000.00|
|Livestock: (per half share)||$1000.00|
|Yearly Active Assessment*: || $75.00|
|Yearly Inactive Assessment*:|| $50.00|
|Yearly Livestock Assessment*: (per half share)|| $50.00|
|Stock Transfer Fee:|| $50.00|
|Stock Exchange Fee: (exchanging a share from household use to livestock or vice versa):|| $50.00|
|Failure to report water usage: (per month up to a maximum of six months)|| $100.00|
|Lost Certificate Fee: || $100.00|
*penalties and interest will apply to unpaid balances