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<br />Jl}L-01-'93 THU 16:53 ID: lSP&P-IENlJER 3 <br /> <br />TEL NO:303-623-2062 <br /> <br />tt825 P02 <br /> <br />( <br /> <br />ARTICLES OP INCORPORATION <br />OF <br />HOPE DITCH COMPANY <br /> <br />A Colorado NQ~'pront CorpOration <br /> <br />.~" ".r. <br />;,!,:?,,;,. <br /> <br />l11e undersigned person, acting i.incorporator of a nonprofit corporadon <br />under the Colorado Nonprofit Corporation Act/hereby adopts the following Articles of <br />Incorporalion for such corporation: <br /> <br />FIRST: The name of the corporation is Hope Ditch Company (the <br />-Corporation -). <br /> <br />SECOND: 'I11e period of its duration is perpetual. <br /> <br />/ <br />'~ <br />'.. <br /> <br />THIRD: The Corporation is organized exclusively as a mutual ditch company, <br />and is intended to qualify as an exempt organiZation under section SOl(c)(12) of the Internal <br />Revenue Code of 1954 (or the corresponding'provision of any future United States Intema1 <br />Revenue Law). <br /> <br />FOURTH: The water for said mutual ditch company is to be takeft from the <br />Laramie " Pox Hill Sands groundwater basin by way of Well No. 1-13S93-P located in <br />Adams County, Colorado, and delivered to the residents of the Wiesner Subdivision for <br />domestic and irrigatlon purposes. Intended construCtion is the maintenance of the .ming <br />well and pipeline system located under the streets of the Wiesner Subdivision, in Adams <br />County, Colorado. <br /> <br />FIFI'H: The corporation shall have two classes of members~ sharebolders and <br />non-shareholders. Only owners of water-tap lots in the Wiesner Subdivision (as ldentlfled In <br />the By-Laws) may be shareholder members. Bach shareholder member il a member by <br />virtue of owning his shue(s). Bach such shareholder member may purchase one .ure per <br />water-tap lot owned by that member. Non-shareholder members may include those in <br />possession of a lot, the owner of which is not a shareholder, who desire water from the <br />system. Non-shareholder members shall be elected as members by a majority of the <br />sbard101der members. <br /> <br />SIXTH: No part of the net earnings of the Corporation sballlnure to tho <br />benefit of, or be distributable to, its directors~ officers~ or other private persons, except that <br />the Corporation shall be authorized and empowend to pay reasonable compensation tor <br />services rendered and to make payments and distributions in furtherance of the purpolel set <br />forth in Article 'lbird hereof. The Corporation shall not carry on any activities not permktod <br /> <br />/\ <br /> <br />(, <br /> <br />t.... __ <br />