Stockholders - Please also click on NEWS on the left side of screen for more information.
Shareholders
Over 230 farm families own stock in Twin Lakes Canal Company. Although they may own only one share of stock, or over 1500 shares, the company attempts to treat every stockholder fairly. Water is distributed to each shareholder according to the number of shares they own.
Assessments:
The assessments for maintenance and operation of the canal company are set each August by the Board and individual notices are sent out to each stockholder of record. These assessments pay for machine hire, chemicals, worker wages, vehicle expense, electricity, and all other expenses related to diverting, storing, and delivering water to each users headgate. Assessments not paid by the due date will be advertised for sale, and sufficient shares of the owners shares will be sold to pay for the assessments that are delinquent.
Transferring of stock:
The Board must approve each transfer of stock. This is necessary because if the water is moved from one lateral to another, or even up or down the same lateral, it may cause delivery problems during peak times and can't be approved. Changes in point of diversion must be approved by the Board of Directors.
To transfer water you will need:
(1) The original stock certificate, signed and notorized on the back by the owner.
(2) Instructions on how many shares are being transferred.
(3) Name and address of person to whom the transfer is being made.
(4) There is a transfer fee of $25.
Fences and Encroachment:
Stockholders are reminded that the company has established rights-of-way where our canals and reservoirs are. Whether by deed or by prescriptive use, these rights-of-way have been established over the last 100 years. In some documents these are described as 100 feet in width, while other areas are protected by what a court would deem reasonable to carry out normal cleaning and maintenance operations. Idaho law protects these rights-of-way against any encroachment.
No person or entity shall cause or permit any encroachments onto the right-of-way, including public or private roads, utilities, fences, gates, pipelines, structures, or other construction or placement of objects, without the written permission of the owner of the right-of-way. (Idaho Code 42:1102)
We appreciate the cooperation of landowners in keeping our rights-of-way free and clear from fences, gates, and other obstructions that prevent us from performing routine maintenance or responding to emergencies.
Stockholders Proxy Certificate:
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