C150150 Feasibility Study

• Contract/PO #: C150150
• Contractor Name: Lower Arkansas Water Management Association
• Contract Type: Loan
• Water District: 67
• County: Bent
• Loan Projects - Doc Type: Feasibility Study

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levy and collect assessments against its members to
m~et the costs of management of the corporation and
of administration of its assets, pay debts of the
corporation, make any necessary repairs and for any
other purpose consistent with any purpose, object
or statutory power of the corporation;

enforce collection of delinquent water assessment
payments in the manner provided in the
corporation's bylaws;

employ. personnBI, agents, attorneys, engineers,
representatives and independent contractors as may
be necessary or convenient to the carrying aut of
any p~rpose, object .or statutory power of the
corporation;

take any other such actions as the Board of
Directors may consider proper or necessary to carry
the. obj ects and purposes of the corporation into
effect; and

exercise any and all. powers permitted by law with
respect to nonprofit corporations pursuant to the
Colorado Nonprofit Corporation Act and Title 7,
Article 42, Colorado Revised Statutes, as amended.

ARTICLE V
Membership

A. Admission. All members as of the effective date
of these Amended Articles of Incorporation may continue to be
members of the corporation. New members may be admitted upon
approval of the Board of Directors in accordance with criteria and
procedures defined by the Board of Directors. Each member shell I be
entitled to one membership for each well owned by that member for
whic~ dues are paid and which is included in the LAWMA augmentation
plan.

B. Classes of Membership. . Unless otherwise provided in
the corporation I s bylaws, there shall be one class of member.
Addi tional classes may be defined in the future by bylaw.. The
rights and obligations of each class of members shall be defirled by
the bylaws and may differ between membership classes.

C. Transfer of Membership. Memberships may be
transferred subj ect to the approval of the Board of Directo rs in
accordance with the bylaws of the corporation and with any rules
which may be adopted from time to time by the Board of Directo rs.

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