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<br />, 12, <br /> <br />13. <br /> <br />14, <br /> <br />15, <br /> <br />16. <br /> <br />18, <br />:113 <br />.r r: C <br />:J V'f/ <br /> <br />The board may exercise entire control of the ditch and all of its lateral headgates, <br />regulating the grade of the former by checks or locks when it is necessary, to control <br />the delivery of water through flumes and lock sluices and to determine the location <br />and type of headgates, <br /> <br />The board may cause to be kept a complete record of all the proceedings and acts <br />occurring in their meetings and of the proceedings of the stockholders' meetings, <br /> <br />The board shall supervise all the acts of the officers and employees of this <br />Company and require the secretary and treasurer or secretary/treasurer to keep full <br />and accurate books of account and to prescribe the form and mode of keeping such <br />books of account. <br /> <br />The board may audit and adjust all bills of accounts of indebtedness against this <br />Company and may direct the secretary to draw a check for the payment of such bills <br />. <br />as are allowed and may cause stock certificates to be issued to stockholders <br />entitled hereto, <br /> <br />The board shall cause to be delivered to each individual stockholder the pro rata <br />share of water due to him according to the number of shares of stock held by each <br />stockholder in this Company using the existing structures and facilities of the <br />Company, The Company may, but is not obligated, to construct new facilities or <br />structures for delivery of shares, <br /> <br />17, <br /> <br />The board shall see that there is no obstruction of any kind placed in said ditch <br />whereby the natural flow of the water is impeded or is raised above the proper <br />grade, thus causing danger to the embankments. <br /> <br />The board shall protect the integrity of the ditch banks by prohibiting concentrated <br />livestock crossings that threaten the stability of the banks or allow water to escape <br />the ditch channel. <br /> <br />19. <br /> <br />The board shall assess applications for a change in the historic use of shares, as <br />more fully described in Sections 11 and 16 of these bylaws. <br /> <br />SECTION 8 <br />CONDUCT OF ANNUAL MEETING <br /> <br />1. The annual stockholder meeting shall generally be in January of each year in <br />Logan County, Colorado, unless a different time is set by the Board of Trustees, <br /> <br />5 <br />