Southwest - Goodman Point Phase II_Application

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Section 5.2 The President shall appoint a Nominating Committee of three (3) members in good standing to work with the Board of Directors to screen candidates for the Board membership. Section 5.3 At least one month prior to the date of election, ballots will be distributed to the members. Members may mail in the ballots to the Chairman of the Nominating Committee or vote in person at the annual meeting. Mail-in ballots will be opened and counted at the annual meeting by the Nominating Committee who will have charge of the election. If there is only one member nominated, ballots need not be mailed. Section 5.4 Nominations may be made from the floor at the annual meeting. Section 5.5 There shall be only one class of membership. The evidence of membership shall be a Certificate of Membership. The interest, rights, and obligations of all members of the association shall be equal, except as may be provided elsewhere in the by-laws of this Association. Section 5.6 Only members in good standing may vote in elections. Section 5.7 Voting memberships shall be one vote per paid tap with a limit of five votes per individual, household, or business entity, regardless of the number of taps held by the individual, household or business entity. Section 5.8 All Board of Director Offices may be reelected for one additional term. No board member can be elected for more than two terms consecutively. ARTICLE VI Annual Meeting Section 6.1 There shall be an Annual Meeting of the Association on the first Saturday in August, or at such a time as the Board of Directors may determine. The purpose of this meeting shall be to review the work of the Association, to develop fellowship among members, and to develop their united action in planning and carrying forward the program of the Association. Section 6.2 The majority of the membership, comprising both those members present and those mail-in ballots shall constitute a quorum. ARTICLE VII Dues and Penalties Section 7.1 It is anticipated that the water system will be constructed by the successful bidder, and maintained by Montezuma Water Company via long tenn lease, and will be governed by the same rules and regulations, fee, rates, etc. to which other members of Montezuma Water Company are subjected. Section 7.2 The Board of Directors shall also have the sole authority to set annual Association member fees, loan repayment fees, special assessments to cover anticipated monetary shortages, or to refund to the membership, excess funds in the Association account. Section 7.3 In the event of delinquency in the payment of fees, assessments, loan repayments, or water usage charges, the Board of Directors shall have the power to enforce the collection thereof by any or a combination of the following remedies: 3