2006-2007 Palomino Lakes Mutual Water Company Board

Meeting Minutes

March 28, 2007

1700 hours

1. Attending:

Howard Blake

Lee Tolbert

Rick Corriea

 The Board adopted the following resolution. Blake, Aye; Corriea, Aye; Tolbert, Aye

RESOLUTION AMENDING ARTICLES OF INCORPORATION

OF PALOMINO LAKES MUTUAL WATER COMPANY

WHEREAS, the Board of Directors of Palomino Lakes Mutual Water Company (“the Corporation”) desires to update its Articles of Incorporation to comply with the requirements of law, and

WHEREAS, the bylaws of the Corporation provide for the amendment of the Articles of Incorporation with approval of the members, and

WHEREAS, notice of a special meeting of the members of the corporation to consider amending the Articles of Incorporation has been duly given as prescribed in the bylaws, and

WHEREAS, the members of the Corporation have voted to amend the Articles of Incorporation as provided herein,

NOW, THEREFORE, be it resolved, that the Articles of Incorporation of Palomino Lakes Mutual Water Company be amended to read as follows:

Full text of the amendment to be mailed to all property owners and maintained in the Company files.

Meeting adjourned at approximately 1830 hrs.