Laserfiche WebLink
From: 07/1012007 07:00 #102 P.009/012 <br /> • <br /> • <br /> representative to attend meetings of the company Board of Directors with the right to speak at such • <br /> meetings. <br /> Section 13. Class B stock shall be restricted and shall be limited to agricultural purposes for delivery and <br /> beneficial application in Montezuma and Dolores Counties outside the limits and extensions of the present • <br /> • <br /> MVIC delivery system of the purchase agreement between MVIC and the Dolores Water Conservancy <br /> District as they may be changed or amended from time to time. <br /> • <br /> Section 14. Class B stock shall bear a restrictive endorsement.which shall provide that the stock may not <br /> be sold or transferred except with the express written consent of the company.after consultation with the <br /> District. <br /> Section 1 S_ Class B stock shall be assessed annually at the same time as Class A Stock,only as follows:. <br /> (1) an Administrative Fee/Account Charge equal to Live(5)times the account charge the company assesses <br /> a company Class A stockholder.and(2)an annual operation and maintenance("0& M") fee equal to one <br /> third (1 r3)of the cost the Company pays the District for its O&M obligation for Dolores Project water at <br /> • McPhee Dam and Great Cut Dike.excluding the cost of pumping from the U-lateral. and no other Company <br /> assessment. <br /> • <br /> • <br /> ARi lCt_E IX <br /> • <br /> Contracts.Notes <br /> Section 1. All written obligations of the corporation such as notes.bonds.acceptances, contracts. <br /> agreements.deeds and all other instruments of writing, shall be signed with the corporate name.by the <br /> President..or in his absence by the Vice-President. and countersigned or attested by the Secretary and the <br /> corporate seal affixed. • <br /> Section 2. All funds of the corporation on deposit in any bank or tanks shall he withdrawn by check or <br /> order in such manner as shall be ordered by the Board of Directors. <br /> Section 3. The corporation may enter into contracts with any person.corporation.partnership_ Political <br /> Subdivision of the State ol-Colorado or unincorporated association to transport. distribute.supply or sell <br /> • water. Such contracts may be entered into by the Board of Directors. from time to time.provided however <br /> that no such contract may be entered into by the Board of Directors for the sale of any of this Corporation's <br /> water except that which is surplus municipal. domestic. or industrial water not required to meet the needs of. <br /> the shareholders:and tirrther provided however that no such contract may be entered into by the Board of <br /> Directors for a period-exceeding one year without the approval of a majority of the shares voted thereon at a <br /> special meeting of shareholders called for that purpose or at the regular annual meeting of shareholders. • <br /> • <br /> ARTICLE X <br /> • Depository <br /> The funds of this corporation shall be deposited in the name of said corporation.in such bank or banks <br /> as may from time to time be determined by the Board of Directors. <br /> • <br /> • <br /> • <br /> • ARTICLE XI <br /> Regulations for Distribution • <br /> Section 1. The unit of measurement shall be the second-foot,which is one cubic foot of water per <br /> • <br /> second of time, and the method of measurement shall be by parshall flume or other measuring device as <br /> approved by the Board of Directors. <br /> • <br /> MVIC Bylaws 9 Revised: June 14, 2005 • <br /> • <br /> • <br /> • <br />