PROJ02105

• Contract/PO #: FS0065FX
• Contractor Name: Greeley and Loveland Irrigation Company
• Contract Type: Loan
• Water District: 0
• County: Larimer
• Loan Projects - Doc Type: Feasibility Study

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that year, and the directors shall not be elected in any other way.

Section 5. Amendments to Articles of Incorporation.

Any proposed amendment, or amendments, may be voted upon by
the stockholders at their regular annual meeting; provided, that the
published notice of such meeting shall have contained a notice that
such amendment, giving the purport of-the same, would be presented and
acted upon at such meeting, or any proposed amendment or amendments may
be voted upon at a special meeting of the stockholders called by the
Board; provided, that notice of such special meeting be given as
required by Section 2 of this Article.

Section 6. Stockholders May Call Special Meeting to Consider
Amendments.

Whenever the holder or holders of one-third (1/3) in amount
of the capital stock, as shown by the stock book, shall in writing
request the President to call a meeting of the stockholders for the
purpose of considering any proposed amendment or amend~ents to the
Articles of Incorporation, setting forth in such written request the
substance of each proposed amendment, the President shall, without
delay, call a meeting of the Board and present the same to it, and
thereupon the Board shall call a special meeting of the stockholders
for the purpose of considering the proposed amendment or amendments
to its Articles of Incorporation. A two-thirds (2/3) vote of all
the capital stock subscribed, and outstanding; shall be required in
favor of an amendment before the same shall be declared adopted.

Section 7. General Provisions Governing Stockholders' Meetings.

The President of the Board, and in his absence the Vice-
President, shall preside at all stockholders' meetings; when neither
are present the stockholders may elect a chairman from their number.
The Secretary of the corporation shall act as Secretary of all stock-
holders' meetings, and shall keep all their minutes, provided, when
he is absent the stockholders may choose a Secretary. At all stock-
holders' meetings a majority of all the stock must be represented in
person or by proxy to constitute a quorum to transact any business.

ARTICLE II.
BOARD OF DIRECTORS

Section 1. Board of Directors.

The Board of Directors of the Corporation shall consist of
seven (7) persons, who shall be stockholders, and who shall be elected
annually, and shall hold office until their successors ar.e elected and
qualified.

Section 2. Annual Election.

The annual election of Directors shall be held at the
regular annual stockholders' meeting, as provided in Section 1 of
Article I. The term of office of those elected shall commence on
the first stated meeting thereafter, at which time the new Board shall
meeting and organize for the purpose of electing a President and Vice-
President from their number. Such election shall be by ballot, and
the affirmative vote of the majority of the whole Board of Directors
shall be required for a choice. Whenever a vacancy shall occur in the
office of President or Vice-President, it shall be filled in like

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