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<br />. :';1" .and thr40..lllomb,.rs of Sa1c1l:!oar4 .ot" 41r"'p1:on>~ ::mall. qODl:iTo':i'ToU...-"" H'
<br />quonun for. th",' tranSaotion ,of Ill1Y and .ap bUSin..,SS or. the company; "
<br />. Seat1.on' 5'.Alr'Vacana1'e~r 'ooOl11"1l1g~in~ thtrboar1' o('1)'freotOTSooc.s::l
<br />10ned by :ieath~ rr1S1ll:l1at10n,:.:11S~ua11t'1aatlon or oth"'ljwlSo,.Shall blll . .
<br />.., 1"i11e1. by a majority vote at:. ,t~.~~mainln[; memberS qf,"th.~,J3pard. I'
<br />. Seotion 6. Th.., Boari of' D1r"ctors Shall employ 't Super1nten:ient,'
<br />wh'.) Shall have oontrGl of the oonStruotion, oar" ani ,1I1anliBelnent (If' t!
<br />th" di taheS an:!. lateralS of t.he Company, au.1 of the 'diStI'1ibutlon: of I
<br />the ~aterte the Steokhol:l.erS, and he Shall.. in al\ matterS be
<br />Subeje~t to the direotion ~d oontrol of the Board qf.DireoterS,.~ :
<br />and Shall reoe~ve Suoh Sal~ry ~ .the 30jT:!. of DlreOjOrs may determ11
<br />
<br />Article lIt., I'
<br />Cert1fioate~ of Stooke : . 7:~ I
<br />CertifioateS ef stook Shall be ~SSued unieTlthe Sea1 of the I
<br />Company an:l. Sh,n be S1t;:le:\ by the PreSident and seqretary ..Of the I'
<br />Company.ShareS of Stook Shall>lb" tranSferable only Qn the bookS ef .
<br />the Cempany,upon the Surronier ot the original oert~fioate properly!
<br />- -- eri::lorSe:l'.--nr,!-'S.,oret'ary-'Shall-oano'er-"th~-oTroertrtroat"e-beforfl S1gt1' ,
<br />./ 1116the new one, and no' stool\. Sh~ll ge f;ral1SCerfli ulttll .'ill. al?$fll}S- I :
<br />mentS, ehart;eS ani arrea r!l.,,=eS ,there'Jon 1'1ave ~een du~y naid_! _' U'
<br />.,' .. ; Artiole1IV:.n ,.. I . ,. '" ~ ~:.l ~
<br />Se~tion I. The Capital stoo~ Shall be asSeSSable tor the purpoSe
<br />I ot', repairing, enlarging, ma1ntail11.ng an:i! Superint.nd~ng..the Compan1e~
<br />::11 toheS 'ani latl'lralS. -prov1:ie:i/ hewever, that no asS"'&Sment Shall be fI
<br />. tryr more Vlan F1ve P..,r Cent();~r""r thfl amount er th1 capttal St')oK i <
<br />__ ,._d,_.hfe:r any. one...y~,.and llJlob .sS~S~lJlCf1tSSl>"11.PO-JllB.dc.-lby.a.1lIajtr1tY-!.
<br />vote of all the Stook of Sa1~ CQlI1pany at an annual meeting of t~e I
<br />stookhol~ers or at ~veoia~ mee~i~ of ~h~ S~ookhel~er~ qalled r.r 1 ,.
<br />that purpeSe. , ! Ii'
<br />. _u__ . s~.o.t! on ~.. All .~~s..s~m~n~ .~h.!lll_Re: ma:ilL.P.r.o .ra~...:H.P..9n .a!l_ _~~th,
<br />S t,..ok of the C.ompanY', an.~ Suoh ~Sellsmenf;S maybe mad1'payalrle e1 ther I
<br />at. on" time erin 1nStallmentS. ~he' time; or timeS of payment S~al~ b,~
<br />Stated in the vote or reSolution maKing' Suoh aSS"SSl1Ient. .
<br />Seo.tion 3.' The Searetary .shQll give: nQUoe of Slloh. aSSeSSment by,
<br />mailing to eaoh Stookholder, of'~soord at leaSt thr~ty dayS prior t~
<br />the time. the.. aSSeSSment._.. .JJr.-thAs,f11$.t....lnSt"J Jment. ~ra.:f'd.1Sc..~ab~
<br />at hiS post of'ftce addreSS 'as Shown by the b okS of it he Company, a i
<br />no't1ce 0l."-ijach:aS'SeS"Sment,g1v1ne the amount'iH'th'i!;!fsSeS-Slllent on I'laq
<br />Share of Stookan:i the time of the payment thereo.f,l;jJld,1t Such asSe~
<br />ment be payable in insta.llmentS, the ameunt per Shall'e, and the um,"
<br />or payment of eaoh installment. H' any 'at')okholder ahall not havlt
<br />rl'leiSterl'li h1S'post-urfioe'addr~ss. withj the Sftoreta~ ,he Shall be j'
<br />deftme:i to have walve:i netice by:mall of; all aSSeSSm~nt6. ~
<br />Section 4. 'fhe Company Shall have a paramount le~n upon 'all of ~
<br />the St~~k hel:l;by eachStookholder. to S",our~ th~ pa~~ent sf the
<br />aSSeSSmentS lo1vej on .the ~Book 'of' Such' St'Jokhol:le!",ia.'1.d' 'no water S
<br />Shall be delivere! to Suoh St'Jckhol:ie!' . until Such llSSeSSm6!lt haS b
<br />been duly'pai::l~ 'All-asSeSSnientS-1n.the'payment 'of wIl1Qh.-there'Sh~1l
<br />~=~~. ~b&. de:faul=t.-~y=anlhSWo1<Jlolde~h.QJ..a.=d.I'a",'i~t-e.~,a44)l" rate=-er
<br />, .
<br />E1ght pel'- oent.( 81.) per a.'1nwn from the Ii. ate when dUj until pa1d....
<br />Art1cle v. I . ;
<br />. . . ._ ___4' . i ...n_ ..__.n_ ...-- ._-. - . ..-.
<br />StockhoU.erS Meetings. ,...
<br />Sec~19n loT!,!e fln~m.aJ. rq~~tllJe...?f _~.h~ lH. 'J!Ul11:t~r.j)hl!U b.lI
<br />held on t'i", SflC nd Satur:la~' -:,f January of" each year, at tl}e. ofrie".
<br />ofth!'l o?mpany,' in Sny:1er, Cllor&:1o . ':. Notice ot'whioll Sai:1 m"et1I1B S.
<br />Shall 'be ghell in !lurS\l!mce of. th.,. Sta~ uteS ':If th,? state of
<br />C0l?ra:io. ,:
<br />Se:lt.1?n 2. The PreSi:1~nt' Shall alSo oall a me~~ing .')f the
<br />Stockhel:1ers,at any t1me, on requflSt of at l~aSt on~-thr1d of the
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