February 12, 2008
 
Dear LTPOA Board Members,

As you are aware, work to repair the dam is scheduled to begin mid-April 2008 with expected completion by mid-May 2008. The estimated cost of this repair is $100,000 to $120,000. Payment for this work will be due in June 2008.

The Dam Committee after consultation with the Finance Committee recommends a special assessment specifically to raise the money for this project.

The Dam Committee makes the following recommendations:
•	A special assessment of $1 per front foot to run for two years. This will provide a total of $108,000 to pay for the dam repair.
•	Billing for this special assessment should be included with the regular assessment billing. Payment will be due August 1, 2008 and August 1, 2009.
•	Money collected from this assessment shall be used only for dam repair and maintenance. 

To charge this special assessment an election must be held and the assessment approved by vote of the property owners.

The committee recommends announcing the election at the Feb 12 LTPOA meeting and that the election be held March 29.

By receiving approval for the special assessment from the property owners in March we will be able to obtain a short-term loan and thus be able to pay for the repair in June. The special assessment money will be available in August and we can begin repayment of the loan at that time.

                 Respectfully,

                 Rich Hirsch, for the Dam Committee

         Lake Tishomingo Dam Committee:
              Lou Harting
              Janet Hirsch
              Clarue Holland
              Ken Jost
              Mike Leiweke
              Rick Lippitt
              Marilyn Meyer
              Kevin Seelbach
              Russ Wilner