Board of Directors.
Please vote! Our Board of Directors makes decisions that determine the future of your water company. We must receive votes from a percentage of our stockholders in order to continue doing business.
What are the types of shares and what do they mean? There are two types of company shares. Class B shares are associated with our culinary system. If you own property, that has a culinary meter, then a Class B share is assigned to that meter. If you own multiple properties, each having their own culinary meter, then you would have the corresponding Class B shares. Class B shares have the right to vote for Board of Directors only. They are not ownership in the company.
Class A shares refer to the company’s secondary water, and to those that actually have ownership in the company. Class A shares are separated into two categories. First, there are those customers that own personal shares. They can use them for their own property, sale, or transfer them to others including selling them back to the company. The second category, are the Class A shares that are tied to the property. These are called subdivision stock. They are tied to the assigned property in joint trust between the company and the current property owner. The property owner cannot sale or transfer these shares, they forever remain tied to the property. Each category of Class A shares can be voted. The owner of personal shares, and the current owner for subdivision stock can vote for Board of Directors and any actions by the company needing stockholder approval.
Please respond in one of three ways: