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<br />ARTICLE V <br /> <br />SUPERINTENDENT <br /> <br />A ditch superintendent shall be appointed by the Board of Directors, who shall have <br />the direct management of the ditch. He shall divide the water from the ditch to all laterals <br />pro-rata to the stock issued and make correct returns to the Board of Directors of all persons <br />hired and employed on the canal and elsewhere in the interest and on behalf of the Company <br />with a statement of their wages, and to perform such other duties as the President of the Board <br />of Directors may direct. He shall at the annual meeting of stockholders, make a full and <br />detailed written report of the condition of the ditch and property of the Company, with his <br />suggestions and recommendations as to necessary repairs and improvements, for the proper <br />up-keep and operation of the ditch. He shall also furnish at the termination of the year a <br />complete statement of water carried through said ditch for parties other than this company, <br />and shall verify said quantities with the superintendent of the reservoir and water companies <br />from whom said water was obtained by said other parties. <br />Any parties interfering with or changing the Headgates after they shall have been rated <br />and set by the Superintendent or ditch rider, without having authority from the Superintendent <br />or ditch rider for such interference or change, shall be prosecuted according to law. <br /> <br />ARTICLE VI <br /> <br />The Secretary, Treasurer and Superintendent shall receive such compensation for their <br />services as the Board of Directors shall determine, and the directors shall receive $75.00 and <br />necessary expenses for every day they are engaged in transacting business for the Company. <br /> <br />ARTICLE VII <br /> <br />No contract with any officer of the Company shall be valid without the previous <br />authorization or subsequent ratification of the Board of Directors. <br /> <br />ARTICLE VIII <br /> <br />Section 1. [Amended 1/26/91] The regular annual meeting of the Stockholders shall <br />be held at 10:00 o'clock A.M., on the last Friday of January in each year, at the office of the <br />Company, or at such other location designated by the Board of Directors, in the City of Fort <br />Morgan, in the County of Morgan, in the State of Colorado. Special meetings of the <br />stockholders may be called at any time by the President, by the owners of at least twenty <br />percent of the outstanding capital stock of the Company, by a written request therefore <br />addressed to the President, or by resolution of the Board of Directors. The notice for any such <br />special meeting shall state the time, place and the object or objects of such meeting, and shall <br />be given by the Secretary by one publication in a newspaper of general circulation published <br />in the county in which is located the principal office of the Company, not less than five (5) <br />nor more than thirty (30) days before the time fixed for such meeting; and a copy of such <br /> <br />4 <br />