Laserfiche WebLink
Section 7.03 Assessments. All assessments shall be apportioned equally among all the <br />shares of stock issued by the Company. The assessments shall be payable to the Company and <br />mailed or delivered to the attention of the Secretary at the principal office of the Company. <br />Assessments shall be due in such installments and at such times as specified by the Board of <br />Directors in the notice of assessment, resolution of Board of Directors or other form of notice. <br />Assessments shall become delinquent thirty (30) days after the designated due date, for each <br />assessment. All delinquent assessments shall bear interest at the rate of one percent per mouth or <br />fraction thereof from the due elate thereof, and nothing herein contained shall be construed to <br />prevent the Company from maintaining an action against any shareholder, in any court having <br />jurisdiction, to collect delinquent assessments and interest thereon. The Company shall have a <br />lien upon capital stock for delinquent assessments. All remedies herein provided for the <br />collection of delinquent assessments upon capital stock of this Company shrill be cumulative and <br />the exercise of one or more of such remedies shall not prevent the Board of Directors from <br />invoking the other or others for the collection of such assessments. <br />Section 7.04 Measuring and iteMatine the Water Sure. The manner of delivering, <br />measuring and regulating the supply of water to shareholders, shall be tinder the control of the <br />Board of Directors, `vvhich may make rules and regulations regarding the distribution and <br />delivery of water. <br />Section 7.05 Repair of Canal. The Company may shut off the water for purposes of <br />general or special repairs of canals, flurries and grates or other portion of said irrigation system <br />and for any other purpose incidental to the conduct of its business at such times as may be <br />required and shall restore water as soon as practicable. <br />Section 7.06 Fiscal gear. The fiscal year of the Company shall be the year ending <br />December 31 <br />Section 7.07 Conflicts of Interest. The Company shall comply with Section 7 -128 -301 of <br />the laws of the State of Colorado to the extent applicable, <br />Section 7.08 Stahl. The Board of Directors shall assure that professional staff is available <br />as needed to accomplish the purposes and activities of the Company, Staff may be fired by the <br />Board. <br />ARTICLE VIIIt CIFL�NGES OF USE <br />Section 8.01 Luse of Shares and Diversion, Any Beeman stockholder not desiring to use for <br />himself the water from said ditch to which he is entitled on account of his capital stock <br />oA vnership in any year, shall have the right to dispose of such water for such year to :mother or <br />other's; but in no event shall water represented by the ownership of capital stock of the ditch <br />company be transferred, used or utilized by any stockholder or user of said water without first <br />going through the headgate and /or measuring weir of the Ditch Company on the South Platte <br />river as presently constructed or as may be hereafter constructed, The company assames no <br />responsibility for delivery of such water and under no circumstance will the company construct <br />new gates in the canal or obstruct the flow of water in the company's ditch by checks or <br />otherwise. <br />ral <br />