PROJ00018

• Contract/PO #: C150010
• Contractor Name: Columbine Ranches POA
• Contract Type: Loan
• County: Adams
• Bill Number: SB 99-173
• Loan Projects - Doc Type: Feasibility Study

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Section 9. The Assistant Secretary, if one is appointed, shall assist the Secretary of the
Association. Hislher duties \~ill mainly consist of clerical support for the Secretary. He/she shall
also substitute for the Secretary in the Secretary's absence at Board meetings and Member Meetings
for the recording of votes and keeping of the minuies.

Section 10. The Treasurer shall receive and deposit in appropriate bank accounts all
moneys of the Association and shall disburse such funds as directed by resolution of the Board of
Directors. A resolution shall not be necessary for disbursement made in the ordinary course of
business conducted by the Board. The Treasurer shall sign all checks and notes of the Association
provided that such checks and notes shall also be signed by the President or Vice President. The
Treasurer shall keep proper books of account and prepare an annual balance sheet statement, which
shall be presented to the membership at its regular Annual Meeting.

Section II. The Master of Arms shall keep, maintain and update the ownership records
of the Association and shall assIst the other Officers/Directors of the Association as directed. The
Master of Arms shall advise OfficersiDirectors and Members of the requirements of the Bylaws and
shall ensure that Membership Meetings and Board Meetings are held and run according to these
Bylaws.

ARTICLE IV
BOARD OF DIRECTORS

Section I. The affairs of this Association shall be managed by a Board of Directors
consisting of not less than three (3) nor more than (9) Directors, all of whom shall be Members of
this Association. The Board of Directors shal! consist of the five (5) Officers who shall hold office
until the election of their successors in accordance with these Articles and Bylaws.

Section 2.

The tenn of office for Directors shal! be two years.

Section 3. Any Director may be removed from the Board, with or without cause, by a
majority vote of the Members.

ARTICLE V
POWERS A\'D DUTIES OF THE BOARD OF DIRECTORS

Section 1.

The Board of Directors shall have the following powers:

(a) To call special meetings of the Members whenever it deems necessary and
shall call a meeting at any time upon ....Titten request of one-fourth (1/4) of all votes of the entire
Membership.

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Amended 11197