The Board of Directors meet each year and set the annual assessment according to anticipated expenses for the upcoming year.  Notices of the assessment are mailed out the first week of January and are due in full within 45 days.  A late fee of $8.00 is added to all outstanding accounts.  Interest at the rate of 18% annually is also charged on all past due accounts.  Unpaid shares will be auctioned off for sale to pay past due balances, plus costs of the sale, according to procedures outlined in the Company's Bylaws.  

Note: The assessment for any shares that are dedicated to secondary water will be billed and collected directly through Morgan Secondary Water.  Any shares being used for flood/irrigation purposes will be billed directly from South Morgan Water Ditch Company.