BLUE MESA RECREATION ASSOCIATION

POLICIES & PROCEDURES

RESPONSIBLE GOVERNANCE

INVESTMENT OF RESERVE FUNDS

Per Senate Bill 05-100, 2005

SECTION 7, 38-33.3-209.5:

2. Adopt policies, procedures, and rules and regulations concerning:

(VI) Investment of reserve funds:

The investment of reserve funds shall be left to the discretion of the Board of Directors.

All funds shall be deposited in federally insured account or accounts.

In witness hereof, the undersigned has executed this Investment of Reserve Funds Policy the 20^th day of October, 2007.                        

BLUE MESA RECREATION ASSOCIATION

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President