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Bylaws of the Boulder and White Rock Ditch and Reservoir Company Page 2 of 6 <br />Article V -Treasurer <br />The Treasurer shall receive all monies of the company and shall keep a correct account of the same, and <br />shall pay them out, only, on the order of the President, countersigned by the Secretary. <br />Article VI -Superintendent <br />The Superintendent, under the supervision of the President and Directors, shall have charge of the ditch <br />of the company and the repairs thereof. He shall keep the time of the laborers and report the same to the <br />Board of Directors at each regular meeting or whenever called upon by the President. He shall have <br />control of all headgates and measuring boxes and of the flow of the water into the ditch and its <br />distribution therefrom. <br />Article VII -Bonds <br />The officers of the company shall give bonds for the faithful performance of their duties whenever <br />deemed necessary by the directors, all bonds of the officers to be in such an amount and conditioned as <br />the directors shall require and to be approved by the directors. <br />Article VIII -Annual Meetings <br />The annual meetings of the stockholders shall be held at some suitable place, in the City of Longmont, <br />Colorado, on the second Friday in November, each year. <br />Article IX -Vacancies in Board of Directors <br />Whenever a vacancy shall occur in the Board of Directors, the remaining directors shall fill such <br />vacancy by appointment until the annual meeting and the new board of directors shall have been elected <br />and shall have qualified. <br />Article X -Special Meetings of Stockholders <br />A special meeting of the stockholders may be called at any time by resolution of the Board of Directors, <br />or upon request of the holders often percent of the stock, or by the President or Secretary, of which <br />meeting notice shall be given as provided by law, the objects of the meeting to be specified in the call. <br />Article XI -Meetings of the Directors <br />The regular meeting of the Board of Directors shall be held on the first Saturday of each month, at the <br />office of the Secretary. Special meetings shall be held at any time or place by giving notice of the time <br />and place by the President or Secretary, or by any two directors to each member of the Board of <br />Directors. Such notice shall be delivered or mailed at least twenty-four (24) hours previous to the time <br />fixed for such special meeting. It shall be the duty of the Directors and they are hereby authorized by <br />majority vote, to make and enter into all contracts that may be deemed necessary for the purpose of <br />carrying on all kinds of business within the objects and purposes of the company. They shall make a <br />memorandum of such contracts upon the minutes of the meeting, and all such contracts when so made <br />and entered of record shall be signed by the President on behalf of the company and when so signed <br />shall be binding upon the company. <br />Article XII -Transfer of Stock <br />http://www.ditchcompany.com/bylawsbwr.html 10/1/2008 <br />