C150179 Feasibility Study

• Contract/PO #: C150179
• Contractor Name: Henry Bolen Ditch Company
• Contract Type: Loan
• Water District: 34
• County: Montezuma
• Loan Projects - Doc Type: Feasibility Study

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multiplied by that Member's assigned fraction for Prorated Costs. Assessments
may be made on an estimated cost basis and/or progress payment basis, as
determined by the Board.
10.4 Additions and/or Improvements. Costs for Additions and/or Improvements to the
Ditch shall be assessed to Members pursuant to a Funding Agreement.
10.5 Fees. The Board may establish a fee schedule and amend it from time to time
for the purpose of recovering administrative and other costs for Company actions
and services.
10.6 Assessments to Members. Dues, Costs of operations, Funding Agreement
Obligations, and Fees shall be billed to Members in writing with reasonable
itemization and shall be payable as directed by the Board, including a specific
due date.
10.7 Default. A Member shall be in default when payment is not received as directed
by the Board for charges properly billed to the Member. The Board may adopt
policies and amend them from time to time regarding late fees and interest to be
charged in the event of default. When any Member is in default over 30 days,
voting rights for the Membership may be suspended until the Member is in full
compliance with the payment obligations.

Article XI. General Provisions
11.1. Books and Records. The Company shall keep correct and complete books,
records, and minutes of the proceedings of the Members, the Board, and
Committees, and shall keep at its principal office a record of the names and
addresses of the Members and their entitlement to vote. All books and records
of the Company may be inspected by any Member at any reasonable time.
11.2. Fiscal Year. The fiscal year of the Company shall begin on the first day of
January and end on the last day of December in each year.
11.3. Settlement of Disputes. A Member may file a complaint in writing with the Board
regarding a dispute with the Board, any other Member, or the Company, and the
parties may request assistance from the Mancos Conservation District Board in
resolving the dispute. The parties to the dispute shall submit the matter to a
qualified mediator or arbitrator outside of the Company prior to filing any legal
action.
11.4. Amendments. These bylaws may be altered, amended, or repealed in part or in
full only by unanimous vote of the Members of the Company, at any regular
meeting or at any special meeting of the Members properly noticed.

We, the undersigned Members of the Company, do hereby certify that the above Bylaws
were duly adopted at the organizational meeting of the Members of the Company on
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