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<br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br /> <br />TERRACE IRRIGATION COMPANY <br /> <br />BY-LAWS <br /> <br />I. INCORPORATION <br /> <br />This company shall be known as "THE TERRACE IRRIGATION <br />COMPANY", a mutual irrigation company, incorporated July 11, 1941. <br /> <br />II. SEAL <br /> <br />The seal of this Company shall contain the word "SEAL" in <br />the center thereof, with the words: "THE TERRACE IRRIGATION <br />COMPANY" in the form of a circle around the same. <br /> <br />III. OFFICERS <br /> <br />The officers of this Company shall consist of a President <br />and Vice-President, who shall be chosen from the members of the <br />board; a Secretary and Treasurer who mayor may not be chosen from <br />the members of the board, and both of which<uoffices may be held by <br />one person, at the first meeting of the board of directors after <br />the annual meeting of stockholders each year. <br /> <br />IV. BOARD OF DIRECTORS <br /> <br />The Board of Directors shall consist of three members and <br />vacancies in the board shall be filled by the remaining members of <br />the board after the first meeting of the board after such vacancy <br />shall occur. All members of tne board shall serve for a term of <br />thre~ years with a maximum of three terms or until their successors <br />shall be elected and qualified. One non-owner/operator can serve <br />on the board provided at all times he is involved with the opera- <br />tion and management of the real property on which Terrace Irriga- <br />tion Company water shares are used. <br /> <br />V. DUTIES OF OFFICERS <br /> <br />Section 1. President: The President shall preside at <br />all meetings of the directors and stockholders. He shall sign, as <br />president, all certificates of stock, all notes and obligations, <br />and all contracts and conveyances and other papers requiring the <br />corporate seal; and shall in general be the chief executive officer <br />of the Company. He shall present a report of the general condition <br />and transactions of the Company at the annual stockholders' meet- <br />ing. . <br /> <br />Section 2. Vice-President: The Vice-President shall act <br />at all directors' and stockholders' meetings in the absence of the <br />President, and shall perform all executive acts required of the <br />President when the President is absent or unable to act. <br /> <br />A-8 <br />