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<br />.1-. The Board has unrestricted control over location of <br />checks.. headg;1tes etc. <br /> <br />ARTICLE XV-ASSESSMENT ON STOCK AND LIEN <br /> <br />1. Corporation bas right to assess shares for funds to <br />Operate, pay indebtedness or interest. <br /> <br />2. Stockholders must approve assessments. <br /> <br />3. Default on pa:yment of assessment on shares. <br /> <br />4. Shares are deemed as personal property. <br /> <br />Documentl <br /> <br />PAGE SEVEN <br /> <br />tmnsponation of Ult water from the point of dcfu."C(}' lO the <br />place or use. <br /> <br />4. The Board or Dirctlors slmU have tIte <br />unrestricled cmcrdiull to control tile locatioll and consllUdioll <br />of cbecks, hcadg:ltcs and other diversion s\IUClurcs inslalled ill <br />tile system. and as a condition for pcrJPiUing :my such checks. <br />llcadg:1t.cs or divcmon structwcs 10 require compliance wilh <br />such slructllrdl 0(" enginccring specifications as arc reasonably <br />1Ke<:SSal}' to insure the safel)' and structural integrily of tile <br />sySlcn\ aud lIle unimpeded and undiminishc:d fiO\v of watcr <br />therein. <br /> <br />ARTICLE XV <br />ASSESS.I\tENT ON STOCK AND LIEN <br />L If tbe Corpor.11ion dealls il JlCCC5S31)" to ralise <br />funds 10 k.eep its ditches, rcscn.-oirs or canals in Good repair 01 <br />to pay Cln}" indebtedness tllCrclofore coutl3Ctcd or the inlercS' <br />t.hereon. the Corpomlion shall JI3\-1: power 10 make .11 <br />assessment on the capil<ll !o1ock thereof 10 be levicd pIO GIla 01 <br />the slmrcs of stock p3Y;lblc in money, labor, or both, for 011 <br />purpose of keeping Ihe properly of the Corporation in !;Q()( <br />IcpOlir and lQf the payment of :luy \udcb~".5S or iutcrc:; <br />thercon. <br /> <br />2. But no such assesslllCot shall be made unlcs <br />tbe question of making the assessment is fusl submiw:d to UI <br />stockholders of Ille Coq>oration at an annual mccLiog or at <br />special mcc[ing called for thar purpose. If a quonnn is prcscn <br />aud \lIe majority of stoclc rcprcsaded at 5l2Ch ft\CCl\ng. cither b <br />tbe ownCf in persoll or by proxy, cntilkd to ,'Ote thereoll sha <br />,'ole in f:1\'Of of malting such asscsswcul; and if sai <br />stockholders fail [0 hold any such nu:ctisag or fail to make I <br />aulhorize an). assessment within Jlinct}' da}'S after lhe close . <br />the Corporation's fiscal )'Caf. rue Dircdors sball have power <br />make an)' such assessment at any regular or special mcctil <br />caUed therefor for thill year. <br /> <br />3. The Corpor.llion hereby provides for the s: <br />and forfeiture of sllafCS of slock for such assessment <br />pro\oidcd in subsection (4) of Ibis section and has lhc benefit <br />s.,id subscctio1\ (4) for tbe rccm'Cfy of such ass<:5SmculS <br />forfeilure or sale of lhc stock in defauk. aud the Corporati <br />:;ball h:l'IC a pcrpctual licu upon such shares of slOCk and 1 <br />\Yiltcc rights represented by the same for any and all Sl <br />assesslllentS or other amounts due until tIte sann: axe fulty p" <br />The Corporation berch)' provides Lh3t no water shall <br />delivered until ClSSCSSlllcnts ur any other amounts due arc p; <br />Unpaid nsscssmcnlS shall ~ ilUCICSl 3l.lbe rate of 13% <br />anOWll compounded anumdl)' from tlle dale due. <br /> <br />4. Th~ sb;ues of stock sbaU be decnlCd pcI'S( <br />property and uansfcrable as sudl in lIle manncrpro"idcd by <br />bylal\'S. A forfeiture or sale of stock on failure to pay <br />assessments or any olher amounts due that front time 10 I <br />lIlal' beCOUle due :lre to be couduCll.'d in the Ulauner provide <br />tbis bylaw. No forfeiture of Slock sbaU be declared <IS aga <br />:J1l}' estate or against any stockholder bclorc dcmand has t <br />