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<br />and forty-one minutes, West 1,757 5/10 teet, and the general course of the canal from said point <br />is Southeast. <br /> <br />ARTICLE 5. <br /> <br />The Company will have voting members, which are the stockholders. The capital stock <br />of the Company shall be $26,500, which said capital stock shall consist of 265 shares of a par <br />value of$100.00 each. <br /> <br />ARTICLE 6. <br /> <br />The term tor which the Company is organized, and the term for which it is hereby <br />authorized to do business, is perpetual. <br /> <br />ARTICLE 7. <br /> <br />The Company shall be managed and controlled, and the business of and for the same, <br />conducted by a board of directors, consisting of an odd number of no more than seven directors <br />and no fewer than three directors who shall be elected by a majority vote of the stockholders at <br />the annual meeting of each ensuing year. <br /> <br />ARTICLE 8. <br /> <br />The head otlice and principal business of the Company shall be in the County of Larimer <br />and State of Colorado. The Company's current principal oftice is located at 1612 W. First <br />Street, Loveland, Colorado 80537. <br /> <br />ARTICLE 9. <br /> <br />The Company shall have power and authority to take and pass such bylaws as it may see <br />fit for the government of and control and carrying on ofthe business to be done by the Company, <br />said bylaws shall prescribe the time and place of meeting, the number necessary to constitute a <br />quorum and for the transaction of general and particular business~ and to fix such penalty for the <br />non-payment of assessments as it may see fit, not in conflict with the laws of the State of <br />Colorado or the United States. <br />