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1St. To call special meetings of the stockholders whenever they deem it necessary. <br /> 2°a To employ, appoint and remove at pleasure, all employees and agents of the Company, <br /> prescribe their duties and fix their compensation. <br /> 3rd. To make such rules and regulations consistent with the laws of the State of Colorado,the <br /> Certificate of Incorporation and the By-Laws, for the guidance of the officers and the <br /> management of the affairs of the Company, as from time to time they may deem expedient. <br /> 4th. To make assessments on the capital stock of the Company for the purpose of <br /> superintendence, maintenance and repair of its ditch system and for other necessary purposes <br /> connected with the proper management of the affairs of the Company including the payment of <br /> debts and liabilities necessarily and properly incurred in the management of the Company, in the <br /> event that the stockholders fail to make or authorize any such assessment for any year by April <br /> 1St thereof. <br /> 5th. To incur such indebtedness as they may deem necessary to carry out the objects and <br /> purposes of the Company and for such purpose to authorize the execution of the note of the <br /> Company and any proper means of securing the same. <br /> 6th. To lease,purchase, or option to purchase additional water for the Company where it is <br /> deemed necessary and for the best interest thereof. PROVIDED,that no contract for the purchase <br /> of additional water and other assets shall be entered into where the purchase price exceeds 30% <br /> of the Company's budget for the year of purchase unless or until the same shall be submitted to <br /> and authorized by the stockholders at a regularly called meeting thereof. <br /> 7th• To cause to be kept a complete record of all meetings, acts and proceedings of such Board <br /> and of the stockholders. <br /> 8th▪ To supervise all the acts of the officers and employees of the Company. <br />