C150200 Feasibility Study

• Contract/PO #: C150200
• Contractor Name: Sheek Ditch Company
• Contract Type: Loan
• Water District: 34
• County: Montezuma
• Loan Projects - Doc Type: Feasibility Study

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BYLAWS OF
SHEEK DITCH COMPANY
A COLORADO NONPROFIT CORPORATION

Article I. Business Organization.
1.1. Name. The name of the Company is the Sheek Ditch Company (the
"Company") and the principal place of business and registered office is
604 Bauer Avenue, Mancos, Colorado 81328, as stated in the Articles of
Incorporation. The Company shall continuously maintain nonprofit
business status and a registered agent with the Secretary of State.
1.2. Purpose. The purpose of the Company is to manage the Sheek Ditch (the
"Ditch") as an association of owners of water rights and lands served by
the Ditch (the "Service Area"). The Company will serve the Members by
maintaining, repairing, cleaning, upgrading the Ditch, and when
necessary, to reconstruct the Ditch in the best interests of all members.

Article II. Membership.
2.1. Members. All owners of a right or rights to Adjudicated Water or Project
Water to be conveyed in the Ditch within the Service Area by the
Company are entitled to be a Member. Each owner of Adjudicated Water
or Project Water rights under one ownership, regardless of the amount or
priorities of the water rights, is entitled to only one Membership. In joint
ownerships, only one owner may vote for the Membership and be elected
to the Board at anyone time.
2.2. Voting Rights. Each Member is entitled to one vote on matters submitted
to a vote of the Members.
2.3. Transfer of Membership. Membership in the Company shall be
transferred with the sale or subdivision of the Member's property in the
Service Area to the new owner(s) of the property, if the property is to be
served with any water rights served by the Ditch.
2.4. Declaration of Membership. When the Company is formed and a Board
is formed, the Board shall record in Montezuma County a document (the
"Declaration") that summarizes 1) the names of the Members of the
Company, 2) the land parcels owned by the Members, 3) the water rights
owned by the Members, 4) statements regarding the rights and obligations
of Members, 5) a declaration that the service of water rights owned by the
Members are to be managed by the Company, 6) evidence of
membership in the Utility Notification Center of Colorado, and 7) a map of
the Service Area of the ditch that identifies the Members' land. Changes
to this information, if any, will be recorded as amendments to the
Declaration at least once annually.

Article III. Meetings of Members
3.1. Annual Meeting. An annual meeting of the Members will be held on the
first Thursday in March of each year, or other date as stated in the