C150150 Feasibility Study - Laserfiche WebLink

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I I I I I I I I I I I I I I I I I I I ARTICLE IV Purposes and Powers A. Purposes. This corporation is formed pursuant to the Colorado Nonprofit Corporation Act, as amended, and pursuant to Title 7, Article 42, Colorado Revised statutes, as amended, for the purpose of engaging in any lawful business or activity including, but not limited to, the acquisition and management of corporate assets, including but not limited to water, water rights, ditches, wells, reservoirs and reservoir accounts, to replace depletions caused by the pumping of its members'wells as required by law, and any related water resources management activity in accordance with the corporations' bylaws and policies of its board, of directors. B. Powers. The corporation shall have and may exercise all of the rights, powers and privileges now or hereafter con"ferred upon corporations operating pursuant to the Colorado Nonprofit Corporation Act, as amended, and the provisions of Title 7, Article 42, ,as amended. These powers include, but shall not be limited to, the power to: . (1) acquire, develop and administer water supplies for the benefit of its members; (2) establish classes of membership and determine the entitlements and conditions upon each such class of membership; . (3) issue shares of stock in the corporation; ( 4) determine each class the of establish classes of stock entitlements and conditions stock; and upon (5) purchase, lease, or otherwise acquire and to own, hold, mortgage, pledge and sell real and personal property of all kinds; (6) borrow money for the use of the corporation and to issue securities thereof and to pledge, mortgage, hypothecate" and otherwise dispose of the real, personal and intangible property of the corporation as security thereof; ~ (7) determine the place, time and manner of delivery and establish schedules of rates for the deli very of water for the benefit of its members; 2