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<br />" ,; Section 11.
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<br />Auditing committee.
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<br />. ,",,:;'c.,' , An eud1tiIl,~ comm1tteeto consht of three Directors. who
<br />;',' ), ':.-' ,,' ere not ofticers. shell be Ilpp('inted by the P.rea1dent at the
<br />:.......,,,-' , ';':'. - tirst tneet1~ 01' Directors atter the annual stockholders meet-' ,
<br />' ' "': "", ".. in.'J' SucheuJUdling oommi ttoe Bonlle.t such t1tno as they deem
<br />.. :,>,:F ",' ':' "'; ,advisable exernine the books ot the o1'ticers ot the .A1.ll!lociatlon,
<br />'. ',";,"<,:.f< Ilnd IIhnllreport th,oir tind1ngs,to theJ30llrd Of' Directors. ',At
<br />" ,,',';~,"''<'" least onEl'exandna1;1ol1'ehall'bolDede each yeur, just ,prior to '
<br />',;iY',' ',;',"'the lirinual'11leeting otth$ stockholders.,.' " ,
<br />".:~. ':',~-,~.","~~/:.' ',:',,' ,.,~ ~ ,...., <, ,',I _/:' :"" ~",;<''':'''''-:
<br />, :, V!';,;" Seot1on12. :' J30nds of' of'ticers end employee.s. >,,/:: ',' ,,:,'
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<br />, . ..,' "',, '-"', - ",,', The l30crd ehellhavethe power torequi:reaIW 'oN1cer, '
<br />;:'~rr ~~/(lr'einploYCJe,to giVea~'llnd' aU bonds1'orthe proteot1on 01' 'the
<br />, ,,:.;::j {:;'h:;,Ass~01a'!i1on,'as; 1. t1nai dol_nooessary 'or/ desirab~e. e" ';',' "",
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<br /><:';:':;;/';"'it:):;:'~'< ' ',/"'" )JJlTICLE V' " ';;,
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<br />Revenues. .",.'
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<br />" ;~ Seotion 1. ,Rabin!; ot, revenues.
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<br />The stockholders tor the purpose ot rnisi~~ revGnues to
<br />:" ,"., '.mElat C.IW and 0.11 obliglltions of the Jl-sBocintion are empowG1'ed : ",
<br />,..,' to and shall make all naC811asry levies or eeeessments " "
<br />",', ' ,: ,agn1nat sheres ot stock of. the Association c.nd/or establish
<br />' .. Chargee tor vltlter and other sorvices all to the end "
<br />"; ,- , ,/', that tharo Il1IlY be suf1'1cient tunds a.vailsbihe to llrOlltptly
<br />':meet when due nny and all Obligations of the .Association as"
<br />, af'oresaid. to be done as provided by'the ~aws ot Colorado
<br />partioularly Chapter SO ot the 1927 Sass10nLaws,and '
<br />Chapter 76 of the 1929 Session taws of' Colorado. ' Provided
<br />,,'.:' :';''':~~;' 'that incase sdd stockholders f'ail to make sueh assessment
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<br />, ';'.';":."';,',;.';;,the SlllUG maybe made by the llOard of' Directorsl'lsprov1ded ',' '.,' , "
<br />'::.;:,'::::'~;>M!~\~bY lIa1d~~~s. " , , , .. ., ' ' ,
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<br />, /';'"-":';"~::"",';;,:::.,, Seot10n 2.,~ent of' asssoSments and: Berv1cecharges~",
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<br />': '\,,:,';' .:',,';'" ,',,' An::! order or resolution lSVyin,1 any- such c.sseOSlllsnts or
<br />,:,<.., ,.., .' establishing chcrges tor ,water or other sarvtclla shall speoifY"
<br />'the time or, times when thesnme shall be p!lynble ,end shall be"
<br />, levUd or establhhed SUfficiently in advanceo!' the date of'",
<br />". paYlllent so ,es to permit 01' oolleot10n thereo1' in an Orderly, '. " '"
<br />" 'an\! businaas-like manner on, or botoro "the time when due. ' "
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<br />i"",,,.. :,' In determln1ngthe fllllOunt'Ot any such allsesSllJonts"a::fa/or'
<br />,: ,", ..:',\~:\:- ;;',: ,'wate::, or otherserv1ce charges roosOnable allOwance f'orost!_
<br />'-:" :,,'::.;; ',.'::lI1ated de1'1e1t~ ,oaused b7 the failure 01' soma stockholdere to ,':;:
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<br />" ' Seotion - 3. :Amountot Asses8mont~and serv1ce charges.'
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