Frequently Asked Questions

To become a shareholder in Rainbow Park Water Company, you would typically follow these steps:

1. First, ensure that your property is within the company's defined service area, which includes the original Rainbow Park Addition (Lots 1-197) and some additional properties south of the Arkansas River approved for inclusion prior to October 1998.
2. Contact Rainbow Park Water Company directly to inquire about share availability. The company operates on a system of 600 shares, so you'll need to check if any shares are currently for sale.
3. If shares are available, you'll need to purchase them. This may involve negotiating with current shareholders who are willing to sell their shares, or acquiring them through the company if they have any unallocated shares.
4. Once you've agreed on a purchase, you'll need to go through a transfer process. This typically involves submitting an application to the company's Board of Directors for approval.
5. The transfer will likely need to be recorded with the local county office to ensure proper documentation of the water rights associated with your property.
6. After the transfer is approved and recorded, you'll become a shareholder and will be entitled to the water rights associated with your shares.
7. As a new shareholder, familiarize yourself with the company's bylaws, policies, and your responsibilities, including participation in annual meetings and potential maintenance duties.
8. Be prepared to pay any associated fees, including annual maintenance fees which are typically proportional to the number of shares you hold.

Remember that water rights in Colorado are considered a private property right and can be complex. It may be helpful to consult with a local attorney who specializes in water rights to guide you through this process and ensure all legal requirements are met.