C153795 Feasibility Study

• Contract/PO #: C153795
• Contractor Name: Farmers Independent Ditch Company
• Contract Type: Loan
• Water District: 2
• County: Weld
• Bill Number: SPL
• Loan Projects - Doc Type: Feasibility Study

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month; and said board mal' bold such special
meetings as it shall deem to the best inter-
ests of said company. Board meetings mal'
be held at the town of PlatteviJJe or at such
other cOD"enfent place 'Within the count~.
of 'Weld and !:=tate of Colorado, as the board
. shall fix and determine.

SeetfoD 7. Quotum-e~ard Members-In-
terested In Claim. A majorit). of the board
of trustees shaH constitute a quorum fOT
"tbe transaction of business. except in a).
lowing a bill for indebt~dness In which a
member of the board Is Interested dlrectl\"
or indirectly a fun board shalt 'be necessar,.:.

ARTICLE V.
Section 1. Powers of Trustees. The
board of trustees sball baYe the following
powers, to-wit:
First. To call aU meetings of the stock-
llOldeTs as pro,-Ided In Section 3 of ArtlcJe-
JI whene"er tbe)' deem It neces~aT~'; and
tber 5ball ea)) meetings of tbe stockholders
at any time upon a wriUen petition of per-
sons owning one-.tbfrd of the capitaJ stock
of tbe com})anr.
SE:cond, To apI)otnt and rernO\'e at pleas-
ure all. ~mjl1orees of tIlis ("ompany, to prE'-
scribe their duties and fix their COmpE'llSa-
lion, and to reqUire from them sE'('urit)' for
Ihe fr:.lthful performance. of tl1elr duties.
'Third, To make rule-!;- and regulations not
.;Vnconsistf'nt with tbe 13""s of tbe Stalp of
GYCoJorado or the articJes of incorl'oratlon or
FJ} the b)'.l?w!; of .this_.c~p;;.ny. .
~a Fourth, To incur !luch jnd~btl:'dlless l'l~ )
\\ ( th{o)' may dE'em neC-E.'Hary for carrying out .
l the object!; and purpOf.:es of tbt~ comllany.
Fiflh, They f;hall IH:YE: er.tlre control of
the dilch t.lId all of Us Jaten:.l headgates,
.l'egult.tillg tbe frc-de o( the former I.)' checks
or loc-lis when it j:-; nf'cp!;::nry, and d...lI (:on-

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1ro].tbe delh'en- of "'"ater through flumes
and lock sJulces: Provided, however that
nothing In these b)'.laws shall be construed.
as In,"estlng the board of trustees witb
power to determine the kind of headgates
to be used In the Jateral ditches, or at an\"
time alter the s~me ,~.ithout a ","ote of th~
stockholders.
Sf-cUon 2. Duties of Board. Amo;J.g other
dutle-s pres('ril'ed br In,," the board of trus.
tees shalll18vt: the foliowing duties, IO.Wit:
FirsL To cause to be kE>l){ a complete
record 01 all their proceedings and acts and
or the proceedings of the stockholders'
meetings.
Second, To present a full and detallE'_d
statement of tbe financial condition of th~
compan)', sbowing its as!l'ets and liabilities
and the amount and nature at receipts and
expenditures at the annuaJ meeting of the
. J:tockholders,

Third, To supen-ise al1 the acts of the
officers and empJo)'e~s of this company aud
require the secrE'tar)' 2nd tr~asurer to keel)
tun and "'~ccurate books of account and to
)1I'~~cJ'iLe the form and mode of keeJ)ing
fuch books of account.
Fourth, To audit and adjust all bills of
vccoums of Indebt,=,dne~s ageinst this com-
I':my and to dlr(>.('t the H:cretary to draw <t
('heck or wennnt on the trf'asurer for tbe
}lflymE:;lt of li'u<'h Lill.!; as. are :e.Howed and to
(:<luse Ftock ('ertifJcates to be issued to
stocklloldHf> ~!ltltlE:d thereto.

Fltth. To gfye all si:ockhcld€:-rs ten 03"1'
wrHten notice of the time of l.lebinning work
of re]lriirl1lg tlle dit~h, except in case of
('mergenc~., I
Si::nh. To cauH' to lIe dl':-!jYerE-d to each
111di\'idual stocliholdE>r Ell:' ne&T as possible
th~ pro r21a share of wnter cue to lllm DC,
l'ording to the numbH 01 shares of stod.

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