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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with such sureties as the Board of Directors shall determine.
The assistant secretaries and assistant treasurers, in general,
shall perform such duties as shall be assigned to them by the
secretary or. the treasurer, respectively, or by the president
or the Board of Directors.

Section 10. Salaries. The salaries of the officers
shall be fixed from time totime by the Board of Directors and
no officer shall be prevented from receiving such salary by
reason of the fact that he is also a director of the corpora-
tion.

ARTICLE V

Contracts, Loans, and Checks

Section 1. Contracts. The Board of Directors may
authorize any officer or officers, agent or agents, to enter
into any contract or execute and deliver any instrument in the
name of and on behalf of the corporation, and such authority
may be general or confined to specific instances.

Section 2. Loans. No loans shall be contracted on
behalf of the corporation and no evi<;lence of indebtedness shall
be issued in its name unless authorized by a resolution of the
Board of Directors. Such authority maybe general or confined
to specific instances.

Section 3. Checks and Drafts. All checks, drafts or
other orders' for payment of money, notes or other evidences of
indebtedness issued in the name of the corporation, shall be
signed by such officer or officers, agent or agents of the
corporation and in such manner as shall from time to time be
determined by resolution of the Board of Directors.

ARTICLE VI

Certificates for Shares and Their Transfer

Section 1. Certificates for Shares. Each purchaser
of shares of the corporation shall be entitled to a certificate,
signed by the president or a vice-president and by the secretary
or an assistant secretary and sealed with the corporate seal or
a facsimile thereof certifying the number of shares owned in
the corporation. The signatures of such officers upon a
certificate may be facsimiles if the certificate is manually
signed on behalf of a transfer agent or a registrar, other than
the corporation itself or one of its employees. Each certificate
for shares shall be consecutively numbered or otherwise identi-
fied. The certificate representing shares shall state on the
face that the corporation is organized under the laws of this

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