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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order to benefit all Members and the Company. The Members will not be
paid for work or other contributions unless approved by the Board. The
Board may enter into contracts with Members (including Directors) to
perform work for the Company, and may ratify acts performed by a
Member as a reimbursable expense.
4.4. Compliance. The Members are obligated to comply with these Bylaws,
the Declaration, any other applicable rules and regulations, and to timely
pay approved dues and assessments, and act as responsible stewards of
the Company and its assets.
4.5. Management of Member's Property. The Members are obligated to
provide and maintain irrigation water facilities on their own lands, and to
manage their own operations in a way that protects and preserves the
facilities of the Company and does not create harm or damage to other
Members or their property.

Article V. Board of Directors
5.1. General Powers. The affairs of the corporation will be managed by its
Board of Directors ("Board") as elected by the Members.
5.2. Number, Tenure and Qualifications. The Company will have three
Directors, and each shall be a Member. The Term of a Director is three
years, and the initial Terms will be staggered so that one directorship
expires each year. Directors will take office immediately following their
election.
5.3. Regular Meetings of Board. A regular annual meeting of the Board will
be held approximately one month prior to the annual meeting of the
Members. At this meeting the Board will establish the agenda for the
annual membership meeting, finalize the proposed annual budget, and
send out notice of the annual Membership meeting. Immediately after the
annual Membership meeting, the Board will hold a meeting to elect
officers and conduct any business necessary as directed by the Members.
5.4. Special Meetings. Special meetings of the Board may be called at the
request of any Director.
5.5. Notice. Notice of any special meeting of the Board, including the purpose
for the meeting, will be given at least two days prior by personal
communication or written notice delivered personally to each Director.
Any Director may waive the notice requirement for any meeting, and the
attendance of a Director at any meeting will constitute a waiver of notice of
that meeting.
5.6. Quorum. A majority of Directors will constitute a quorum for the
transaction of business at any meeting of the Board. A Director may
attend a meeting by telephone conference, but not by proxy.
5.7. Informal Action by Directors. Any action that may be taken at a meeting
of the Board may be taken without a meeting if a consent in writing, setting
forth the action so taken, is signed by all the Directors.