PROJC01841 ‎(2)‎

• Contract/PO #: C150270
• Contractor Name: Headgate 135 Lateral, Inc.
• Contract Type: Loan
• Water District: 0
• County: Mesa
• Loan Projects - Doc Type: Feasibility Study

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notice of a meeting, whether before, at, or after the time
stated therein, and this shall be equivalent to the giving of
the notice. The attendance of a director at a meeting shall
constitute a waiver of notice of such meeting, except where a
director attends a meeting for the express purpose of objecting
to the transaction of any business because the meeting is not
lawfully called or convened. Neither the business to be
transacted at, nor the purpose of, any annual, regular, or
special meeting of the Board of Directors need be specified in
the notice of waiver of notice of such meeting.

Section 6. Quorum. A majority of the number of
directors fixed in Section 2 of this Article III shall consti-
tute a quorum for the transaction of business at any meeting of
the Board of Directors, but if less than such majority is .
present at a meeting, a majority of the directors present may
adjourn the meeting from time to time without further notice.
The act of the majority of the directors present at a meeting
at which a quorum is present shall be the act of the Board of
Directors.

Section 7. Informal Action by Directors. If all the
directors severally or collectively consent in writing to any
action taken or to be taken by the corporation and the writing
or writings evidencing their consent are filed with the secre- )
tary of the corporation, the action shall be a valid as though
it had been authorized at a meeting of the Board.

Section 8. Telephonic Meetings of Directors. The
Board of Directors or any committee designated by the Board may
participate in any meeting of the Board or committee by means
of conference telephone or similar communications equipment
that enables all participants in the meeting to hear each other
at the same time. Such participation shall constitute presence
in person at the meeting.

Section 9. Removal of Directors. At a meeting
called expressly for that purpose, the entire Board of Directors
or any lesser number may be removed, with or without cause, by
a majority vote of the shareholders in the manner provided by
the Colorado Corporation Code.

Section 10. Vacancies. Any vacancy occurring in the
Board of Directors may be filled by the affirmative vote of a
majority of the remaining directors though less than a quorum
of the Board of Directors. A director elected to fill a
vacancy shall be elected for the unexpired term of his pre-
decessor in office. Any directorship to be filled by reason of
an increase in the number of directors may be filled by election
by the Board of Directors for a term of office continuing only
until the next election of directors by the shareholders.

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