4/20/2026 7:30 AM
Board of Trustees
Special Meeting
Wednesday, April 22, 2026, 6:00 p.m.
Attend in person:
Cedaredge Civic Center, Grand Mesa Room, 140 NW 2
nd
St.
Attend virtually:
On Your Computer: https://bit.ly/4cUIusD | Password: 530983
On Your Phone: 253-215-8782 | Webinar ID: 858 1182 4640 | Password: 530983
NOTE: Persons attending remotely may experience technical difficulty. While the
Town attempts to have technology working to accommodate remote participation,
there can be times when technology is not working properly thereby impacting
the ability to listen or present.
AGENDA
6:00PM Call to Order
Pledge of Allegiance
Roll Call
Agenda Approval. (5 Minutes)
Trustees will consider accepting the agenda as presented or if it should be modified.
Adding new items is limited to emergency matters needing immediate attention that arose
after the agenda was posted.Public Comment Period
There is a sign-up sheet at the lectern for constituents who would like to address the
Board. Online constituents should use the raise your hand feature. We will recognize the
oldest first, newest last order.
When there is a public hearing on the agenda, there will be a separate public comment
period. A separate in person sign-up sheet is provided for that, and online participants
should follow the same raise your hand procedure for commenting during that time.
Constituents, whether in person or online may address the Board of Trustees about any
issue. Regardless of being in person or online, please state your name and address for the
record. You have three (3) minutes to address the Board of Trustees. When the Chair or
the Town Clerk signals the time has ended, please wrap up your comments. When the
scheduled public comment periods end, the Chair will not recognize public speakers
other than invited consultants. The Board of Trustees are not authorized under Colorado
4/20/2026 7:30 AM
Open Meetings Law to discuss, comment, or take action at this meeting on any issue
raised under constituent time that is not part of tonight’s agenda. Please keep all
comments cordial. Personal attacks on Staff or the Board will not be tolerated. The Chair
may refer the matter to the Town Administrator and/or the Town Attorney for immediate
comment after Constituent Time, or to staff to obtain additional information.
Executive Session (20 Minutes)
Pursuant to C.R.S. 24-26-402(4)(f); Matters subject to negotiation and directing
negotiators regarding an offer to purchase water shares.Purchase of Water Shares (20 Minutes)
a. Consider purchasing up to three (3) shares of stock in the Surface Creek Ditch and
Reservoir Company.Adjourn: Next Meeting, May 7, 2026
STAFF REPORT
To: Mayor and Board of Trustees
From: Carl Holm, Interim Town Administrator
Agenda Date: April 22, 2026
Item: PURCHASE WATER SHARES
Attached: Water Summary Sheet
RECOMMENDAT ION(S):
a. Provide direction to the Interim Town Administrator (ITA) to purchase shares of Surface
Creek Ditch and Reservoir Co.
- Number of shares to acquire (up to 3); and
- Accept the asking price or provide direction on the cost per share.
b. Approve expenditure of up to $90,000 for the purchase of up to 3 shares and direct staff
to return with a resolution amending the 2026 Budget to reflect the Board’s action.
c. Authorize the ITA to purchase water share(s) on behalf of the Town, not to exceed
$90,000 for three (3) shares.
SUMMARY/DISCUSSION:
On April 17, 2026, staff received an email from Austin Keiser stating that he had been
approached by a family wanting to sell three (3) shares of stock in the Surface Creek Ditch and
Reservoir Co. The asking price is $30,000/share - t hey might be willing to consider an offer.
Attached is a sheet that lists all the water sources, number of total shares for each source, average
amount of water/share, and the approximate value/share – from a few years ago. This sheet
shows Surface Creek Ditch and Reservoir Co has 810 total shares with 2.50-5.50 cfs per share.
This purchase was not budgeted in 2026. However, staff finds that there are sufficient
BUDGET:
Water Fund - 2026 Budget
Fund Balance as of Jan 1, 2026: $1,527,617
2026 Projected Revenue: $1,498,555
2026 Budgeted Expenditures: $1,722,650
1
Projected Fund Balance 12/31/2026: $1,303,522
[25% of expenditures for unrestricted available resources; $309,913]
1
Capital budget total is $483,000 including $350,000 for a new (back up) water tank at the Water
Treatment Plant.
Excess Drought Revenue (restricted funds) could be used for this purpose. The existing balance
is $13,199