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<br />transfer shall be noted on the books of the Association to such transferee upon the surrender of the <br />Certificate properly endorsed, No transfer of membership shall be valid until all of the indebtedness owed <br />to the Association is paid or adjusted to the satisfaction of the Board of Directors. No transfer of <br />membership shall be valid when made to the transferee who is not eligible for membership, as provided in <br />Article III of these By-Laws, <br /> <br />Section 4, Membership Rights: Each Membership Certificate shall entitle the holder thereof to <br />one service connection with the water system of the Association, and each such service connection shall be <br />entitled to a proportionate amount of water available through the system for any season that that service <br />connection bears to the total number of service connections with the system. The voting rights of any <br />persons holding more than one Membership Certificate shall not exceed those rights as provided in Article <br />IV, Section 5, of these By-Laws, In all other respects, the rights, interest, obligations and duties represented <br />by each Membership Certificate shall be equal. <br /> <br />Provided, however, that in times of drought or water shortage, the Board of Directors may establish <br />a priority basis for allocating water, and charge different rates for different uses, If such priority basis is <br />established, then essential household use shall be given first priority for an adequate number of gallons per <br />month, and essential agricultural use, as the Board may define such, shall be given sec9nd priorjty for use. <br /> <br />Section 5. Location of Service Connection: At the time the Membership Certificate is issued, <br />the tract of land to be served shall be identified by the applicant. The service connection for that <br />Membership Certificate may not be used upon any other tract of lahd than that so identified. Membership <br />Certificates, including those outstanding at the time of adoption of this Section 5, may be transferred only <br />with the transfer of the tract ofland for which the certificate was issued, except in the case of hardship to <br />the member, as determined in the sole discretion of the Board of Directors. <br /> <br />ARTICLE IX <br />Fiscal Year <br /> <br />The fiscal year for said Association shall be from December I st of each year until November 30th <br />of the following year. <br /> <br />ARTICLE X <br />Amendments <br /> <br />These By-Laws, or any Section or Article thereof, may be changed, amended or repealed at <br />any regular meeting of members, or any special meeting ofthe members held for that purpose, provided such <br />notice of such proposed changed have been incorporated in the call for such meeting. <br /> <br />By-Laws Page 7 of 7 <br />