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PROJ02195
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PROJ02195
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Last modified
4/13/2010 3:51:23 PM
Creation date
4/8/2008 10:23:02 AM
Metadata
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Template:
Loan Projects
Contract/PO #
07000000090
Contractor Name
Ditch and Reservoir Company Alliance
Contract Type
Grant
Water District
0
Loan Projects - Doc Type
Report
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<br />e. To furnish and disuibute to all shareholders their pro rata share of each year's net annual yield of water produced in the <br />exercise of the water lights managed by the Company. <br /> <br />D. To do all and everything necessary, suitable, or proper for the accomplishment, attainment, or exercise of any of the <br />objects and purposes set forth herein, and to do every other act or thing incidental or appurtenant to or growing out of or <br />connected with those objects and purposes. <br /> <br />. <br /> <br />The enumeration of any specific purpose shall not be construed to limit or restrict in any manner the general lights of the <br />corporation as provided by law, nor shall the expression of one pUl1Jose be detelmined to exclude another. <br /> <br />ARTICLE IV <br />Principal Office <br /> <br />The Company's principal office is [identify principal office]. <br /> <br />[Ident!fication of the plinciple office of the company is required by c.R.S. s 7-102-102 (l)(d).] <br /> <br />ARTICLE V <br />Powers <br /> <br />[DesCliption of the powers of the company is not required to be included in the articles of incorporation. However, the <br />incorporators should consider, with advice of counsel, enumerating at least the basic powers to do business the corporation <br />possesses as recommended below.] <br /> <br />In furtherance of its purposes but not otherwise, the Company shall have the following powers: <br /> <br />A. All of the powers and privileges conferred upon nonprofit corporations and mutual ditch companies by the common <br />law and the statutes of the State of Colorado in effect from time to time. <br /> <br />B. All of the powers necessary, suitable, proper or desirable to perform the obligations and duties and to exercise the rights <br />and powers of the Company including, without limitation, the following powers: <br /> <br />. <br /> <br />1. To make, in the manner prescribed by law, assessments on its capital stock, to be levied pro rata on the shares of stock <br />for the purpose of meeting operating expenses, paying any indebtedness of the Company, or both, and to enforce <br />such assessments according to Colorado law. <br /> <br />2. To have a perpetual lien upon its capital stock and the water rights represented by the same for any and all assess- <br />ments duly levied until the same shall be fully paid. <br /> <br />3. To keep in good order, condition and repair, all of the assets of the Company. <br /> <br />4. To obtain and maintain, to the extent available, all policies of insurance appropriate or required by law. <br /> <br />5. To protect and defend the assets of the Company from loss and damage by suit or otherwise. <br /> <br />6. To own, hold, improve, manage, control, operate, repair and maintain the assets of the Company in connection with <br />its affairs, subject to these Articles of Incorporation and the Bylaws. <br /> <br />7. To pay all expenses in connection with the performance of its duties and the exercise of its powers and all office, <br />legal, accounting and other expenses incident to the conduct of the business of the Company, specifically including <br />all licenses, taxes, charges, fees, assessments or governmental charges levied or imposed against the assets of the <br />Company. <br /> <br />8. To borrow funds and to give security therefore in order to pay for any expenditure or outlay required pursuant to <br />law, these Articles of Incorporation or the Bylaws, and to execute all instruments in evidence of such indebtedness <br />as the Board of Directors may deem necessary or desirable. <br /> <br />. <br /> <br />9. To enter into contracts within the scope of the Companys duties and powers, and to do all other acts necessary, <br />appropriate or advisable in carrying out any purpose of the Company with or in association with any person, film, <br />association, corporation or other entity or agency, public or private. <br /> <br />Ditch & Reservoir Company Alliance <br />
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