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PROJ00305
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Entry Properties
Last modified
11/19/2009 11:43:17 AM
Creation date
10/5/2006 11:48:38 PM
Metadata
Fields
Template:
Loan Projects
Contract/PO #
C153524
Contractor Name
Redlands Water and Power Company
Water District
0
County
Mesa
Bill Number
XB 99-999
Loan Projects - Doc Type
Feasibility Study
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<br />. <br /> <br />. <br /> <br />The manner of delivery, measuring and regulating the supply of water <br />for the water user shall be prescribed by the company and shall be <br />at all times under its control. Such headgates and weirs shall be <br />controlled by the company. All shareholders shall be required to <br />cooperate with the company to establish and locate such headgates <br />and weirs for the shareholder to receive his water. It is the <br />shareholder's responsibility to provide such ditches or laterals <br />necessary to ultimately deliver the water to his property. <br /> <br />Section 2. Direct Pumpinq from Canal Prohibited. No share- <br />holder, his ass~gns or any other person shall be entitled to pump or <br />syphon directly from the delivery canals of the company without its <br />express written consent. The company may permit a shareholder to <br />pump from such canal on a short term basis until such headgates and <br />laterals are~in place. In the event any shareholder or other person <br />continues to pump directly from the canal after notice to discontinue <br />such pumping has been mailed to him, the company shall exercise such <br />rights and remedies as may be available to it, including confiscation <br />of such pump or syphon and retaining same for damages incurred thereby~ <br />Any shareholder, by accepting stock in the corporation, is de~med to <br />have consented to such shareholder responsibilities and these proce- <br />dures of the company. <br /> <br />ARTICLE VIII <br /> <br />-' <br /> <br />Indemnification of Officers and Directors <br /> <br />Each director and officer of this corporation, and each per- <br />son who shall serve at its request as a director or officer of another <br />corporation in which this corporation owns shares of capital stock or <br />of which it is a creditor, whether or not then in office, and his per- <br />sonal representatives, shall be indemnified by the corporation against <br />all costs and expenses actually and necessarily incurred by him in <br />connection with the defense of any action, suit or proceeding in which <br />he may be involved or to which he may be made a party by reason of his <br />being or having been such director or officer, except in relation to <br />matters as to which he shall be finally adjudged in such action, suit <br />or proceeding to be liable for negligence or misconduct in the per- <br />formance of duty. Such costs and expenses shall include amounts <br />reasonably paid in settlement for the purpose of curtailing the costs <br />of litigation, but only if the corporation is advised in writing by <br />its counsel that in his opinion the person indemnified did not commit <br />such negligence or misconduct. The foregoing right of indemnifica- <br />tion shall not be exclusive of other rights to which he may be entitled <br />as a matter of law or by agreement. <br /> <br />ARTICLE IX <br /> <br />NONPROFIT CORPORATION <br /> <br />No dividend shall be declared or paid to any stockholder of <br />this corporation, nor shall any stockholder, upon the dissolution of <br />the corporation, be entitled for any reason to receive a distributive <br />or other share of assets then owned by the corporation, it being <br />expressly understood that this corporation is not formed for profit <br />and is a corporation which does not contemplate pecuniary gain, profit <br />or dividends for the stockholders thereof, it being further understood <br />that said corporation is organized and incorporated exclusively for the <br />purposes and objects set forth herein and in the Articles of Incorpora- <br />tion. Upon the dissolution of this corporation, all of its business <br />properties and assets shall go and be set over to and used for the <br />objects and purposes set forth herein and in the Articles of Incorpora- <br />tion. <br /> <br />ARTICLE X <br /> <br />Miscellaneous <br /> <br />Section 1. Waivers of Notice. Whenever notice is required <br /> <br />-12- <br />
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