PROJ02111

• Contract/PO #: C150066
• Contractor Name: Tilton Lateral, Inc.
• Contract Type: Loan
• Water District: 0
• County: Mesa
• Loan Projects - Doc Type: Feasibility Study

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ARTICLE VI. OFFICERS
SECTION 1. The affairs of this corporation shall be managed by the
Board of Directors consisting of five (5) members. There shall be
elected officers and two (2) elected directors. The elected officers
shall be a President, a Vice-President and Secretary-Treasurer.

a) Head gate 160 will be regulated at the direction of the Board
of Directors in accordance with the turn-out orders of the
members, in agreement with Grand Valley Irrigation Company, and
with the needs of the shareholders of the Tilton Lateral, Inc.

SECTION 2. The term of office for each
director shall be one (1) year. There
terms an officer may serve.

elected official and elected
is no limit to the number of

SECTION 3. No Husband and Wife may serve on the Board of Directors at
the same time.

ARTICLE VII. DUTIES.
SECTION 1. PRESIDENT. It shall be the duty of the President to preside
at all meetings. To generally manage the corporation; make reasonable
decision in emergency situations; to appoint committees as needec.
Follow the policies of the Board of Directors and act in accordance with
the best interest of the majority of the stockholders, the By-laws and
Articles of Incorporation, and the laws of the state of Colorado. The
President shall sign corporation checks along with the Secretary-
Treasurer. The President shall prepare a report of the status of the
Tilton Lateral Ditch system at the annual meeting.

SECTION 2. VICE-PRESIDENT. It shall be the duty of the Vice-President
to assist the President in the duties of his office and be an active
member of the Board of Directors. In the absence of the President, the
Vice-President shall carry out all the duties of the President as
provided in Section 1 of this Article. In the event of the absence of
the President, The Vice-President will act as President. In the case of
a perm~nent absence, the Vice-President will perform the duties of the
presid~nt until the next Annual Meeting when officers are elected.

SECTION 3. SECRETARY-TREASURER. The Secretary-Treasurer of the
Corporation rr~y b~ one and the same person. It shall be the duty of the
Secretary-Treasurer:
a) to keep the records of all proceedings of regular and Board
meetings,
b) take care of all corporation correspondence under the
direction of the President.
c) maintain a current list of all stockholders and maintain the
stock transfer record bOOKS of the Corporation.
d) keep a record of all revenues and expenditures of the
corporation.
e) sign all checks of the Corporation along w th the Pre:iccn~.
f) ;repC.re a ::.nancial stat:m:nt ':J ::::- silbm tted at ':he 1-.:::-,',;0.:

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