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H. To pravide for the maintenance of accurate recozds and books of account ior <br />the affa.irs aud business of the corporation, and to cause regular audits to be <br />made at least ance each year. � <br />I. To approve and ciireet all disburs�ments out of the funds of the cozporation <br />and to bonow money as it may be necessary upon the credit and for the <br />�ene� � af th� ;,orparatian, said i�debtedness #o be approved in the foim o: a <br />resolu�ion duly recorded in the minutes of the directars` meeting. <br />Section 6. <br />Au�nenta.tion and Allocatian of Water. In recognition of the variability in the needs of different <br />members and among shareholders (such as the difference between sole source and supplementaI well <br />pumpers} and the variability in water availabiliiy in different years and different hydrological <br />circumstances the Board of Directors shall have exclusive authority to deteimine the allocation of <br />water for replacement pur�aoses each year. The Baard shall also have exclusive authority over all <br />aspects of operation of facilities and water accounts of the cozporation. The Board may adapt nzles <br />ta provide further detailed guiciance with respect to such admuustration and allocafion. <br />Section 7. Vacancies. Vacaucies among the directors and the offieers of tIus <br />corporation s�all be fiIled for the unexpired tenn by ma�ority�vate of the Board of Directors. <br />ARTICLE V <br />O�cers <br />Section 1. Officers of.the Corpasation. The offiaers of tl�is corporation sha11 be <br />a President, Vice President, Secretary and Treasurer. The Seeretary aud the Treasurer may be the <br />same psrson. The Presic�ent and Vice President shall he elec#ed from the Baard of D�rectors. The <br />Secretary a�td Treasurer need not be members or directors of this corporation. All o$xcers shall serve <br />for a term af one {1} year or until successors are duly elected and qualified; election ofofficers of <br />the board. shall be held immedzately after each annual meefing of the members. <br />Section 2. Duties and Pawers of the President. T'he President shall preside at all <br />meetings of the directors and members; and shall sign a11 stock certificates, bonds, deeds, leases, <br />encumbrances, notes, contxacts, or other instruments of wziting made or entered into by or onbelzalf <br />of the corporation. The President shall exercise a general supezvision over the business of the <br />corporatian and shall have all the power and perform atI of the duties t2sually incident to the office <br />of President of similar associations. <br />Section 3. Duties and Powers of #he Vace President. The Vice President shall <br />perform all of the. functions aud du�ies associated with the office of the President in the absence of <br />the President, or in the case of his ina}�ility or refasal to act. The Vice President sha11 perform such <br />additional duties as tlie Board of Dirsctars may prescnbe. <br />Sectian 4�. Duries and Pawers of the Secret?Tv. The Secretary shall perform alI <br />duties usually in.cident to the office of Secretary of a corporation. He shall keep the minutes of all <br />stockholders` and directors' meetings, and have the custody of all minutes, zecords, and other papers <br />and documents of the corporation. He shall provide notice of inembers' and direetors` meetings as <br />provided by tlaese bylaws. He shall provide writteri notice of proposed annual assessments to <br />si�areholders as provided hereinafter. He shall attest by his sionature and affix the corparate seal to <br />C� <br />