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ARTICLES OF INCORPORATION AND BYLAWS <br />The Articles of Incorporation for RRLC are enclosed in Appendix A. Section X of the <br />Articles of Incorporation gives the board of directors the power to make bylaws for the <br />company. The Bylaws for RRLC were first adopted in February 2006, and are also <br />enclosed in Appendix A. <br />The purpose of the RRLC as stated in the Articles of Incorporation II(a) read in part as <br />follows: <br />"To take, divert, carry, store, distribute and make legal appropriations of water <br />under the laws of the United States and the laws of the State of Colorado, both for <br />the storage of water for subsequent use in irrigation and for direct use without <br />storage." <br />The powers of the company are also defined in II(e) of the Articles of Incorporation: <br />"To exercise all the powers necessary for the development and successful <br />operation of our said enterprise, to borrow money, sell mortgage and pledge the <br />property and franchises of our said company and any and every part thereof, and <br />generally to do and perform all things necessary and proper to be done under and <br />by virtue of the corporate powers of our said company and to carry on the business <br />for which it has been organized as aforesaid." <br />• PHYSICAL ASSETS <br />RRLC owns and operates the 64,000 acre-foot capacity Riverside Dam and Reservoir, an <br />inlet canal known as Riverside Ditch with a decreed carrying capacity of 1,000 cfs, and a <br />river diversion structure located near the town of Kersey, Colorado. The general location <br />of Riverside Dam and Reservoir is shown on Figure 1. The company also has contractual <br />interest in four recharge plans, two of which divert from the inlet canal and two of which <br />divert from the main outlet canal of the resenroir. <br />2 <br />