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<br />," <br /> <br />3. To own, buy sell, rent, lease, convey, exchange and <br />generally transact business in water rights, appropriations and <br />priorities therein, franchises, rights-of-way and privileges <br />appertaining to water and water rights; to store said water in <br />reservoirs, basins and other places; to carry, convey and <br />distribute said water either directly, or by way of exchange <br />through and by means of canals, ditches, laterals, pipe lines,' <br />conduits, natural streams, vehicular transportation and other <br />devices to replace the consumptive use of water withdrawn by <br />individual wells or central municipal type wells and used by <br />owners of platted lots within a platted subdivision, subdivision <br />developers and owners of other tracts of land including <br />subdivision developments which are downstream from their storage <br />reservoirs and storage and direct flow water rights. <br /> <br />4. To acquire all lands, rights-of-way, ditches, canals, <br />laterals, reservoirs and reservoir sites necessary to the use and <br />operation of said reservoir system and of. rights, privileges, <br />franchises, and appropriations connected therewith. <br /> <br />5. To make assessments on its capital stock, to be levied <br />pro rate on the shares of stock payable in money for the purpose <br />of keeping the property of the corporation in good repair and for <br />the payment of any interest indebtedness or interest thereon. <br /> <br />6. The corporation is one which does not contemplate <br />pecuniary gain or profit to the shareholders thereof and is <br />organized for nonprofit purposes, however, its shareholder may be <br />paid for services actually rendered to the corporation. <br /> <br />7. The corporation shall have, enjoy and exercise all <br />of the powers now or hereafter given to corporat10ns not for <br />profit under and by virtue of the laws of the State of Colorado, <br />and shall have, enjoy and exercise all powers necessary or <br />convenient for the advancement of the purposes of the <br />corporation. <br /> <br />ARTICLE IV. <br /> <br />R~.qi ~_ter.~.d ._OfJ.i<;~. _9}}d. __~.g~_!1.t <br /> <br />The address of the initial registered office of this <br />corporation is 2525 S. Wadsworth Blvd., Suite 306, Denver, CO <br />80227, and the name of the initial Registered Agent of this <br />Corporation at such address is RONALD K. BLATCHLEY. <br /> <br />ARTICLE V. <br /> <br />Board of Directors <br />. ... . .' . ~ . .. ... - ~ -- . -. ".. - .. . - . -.. <br /> <br />There shall be not less than three nor more than seven <br />directors of this corporation as shall, from time to time, be <br />fixed by the bylaws of this corporation. The number of directors <br />