The meeting, chaired by Cree Valley Community Council leader John NcNaught, was called to see if there was enough interest in the community to keep the pageant, which started in the 1930's, going.
Colin, who had voiced his intentions to step down in a speech at this year's event, was asked by many at the meeting to think again and stay on as chair, but Colin said he was not going to be rushed into a decision after giving up both his time and his work to run the show for the past seven years. He said he had become increasing disheartened by the lack of people willing to help him, and his small committee, during the week.
Looking round the roomful of people pledging to help out in future, Colin exclaimed: "Where were you all when I was asking for help?"
Many confessed their regret at not coming forward sooner, but as one member of the public succinctly put it, hearing Colin say he had had enough was the "kick up the backside" they needed.
Many said that they would like to see a change to the format, and John McNaught, who himself had run the pageant for a number of years, said that new ideas would be welcome.
He said: "As chair of the Cree Valley Community Council it is my duty to see there is a pageant on next year, and that is why this meeting was called - to see if there was any enthusiasm for it - which there obviously is.
"But, and I'm sure Colin won't mind me saying this, if you've got only four of five people on the committee then what happens during the pageant becomes the opinions of these people. We need fresh ideas, particularly from the youth of the town."
Mr McNaught pointed out that until Mr Faulds decided what he was going to do there was no way of moving forward. People who had attended the meeting thinking that a new committee was to be formed that night were told that this was constitutionally impossible.
Mr McNaught continued: "As long as Colin remains as chairperson you can't form a new committee. Colin would have to either resign or be re-elected, or call an extraordinary annual general meeting.
"But, my worry is if we don't get things started now and you (Mr Faulds) decide to step down in January, (when the agm is held) there will not be enough time to organise anything."
Members of the public took it in turn to say what the pageant meant to them and what help they were willing to offer. Many said they would gladly give their time but were not keen to become part of a committee, while others said they were willing to join a committee and had different ideas for future pageants.
One woman said the pageant had been part of her life for 57 years.
She said: "I would hate if the weans coming on in this area didn't get to have the fun that my weans had at the pageant. Everyone should do a wee bit to help."
Colin Faulds then announced he would call an earlier than usual agm, as soon as all the finances were finalised for this year's festivities.
"The agm should take place in about a month," he pledged.
John McNaught said he hoped that the everyone that had turned up tonight to show interest in the continuity of the pageant would attend that meeting too.
He said: "I am a great traditionalist. Things like the pageant keep communities together."
After the meeting Colin Faulds spoke to The Galloway Gazette. He said: "It took the threat of me resigning to finally bring folks out of their homes. I have been appealing for years for people to come and help. We don't need a big committee with lots of folk. We just need people to give us a couple of hours of their time during the pageant to help out."
Mr Faulds said he had not yet come to a final decision over his position.