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<br />I. <br />I ,~ <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />1..- <br />I <br />I <br />I <br />( <br />I: <br /> <br />ARTICLES OF INCORPORATiiiIk1 <br />OF THE . <br />DEWEESE-DYE nITCH AND RESERVOIR COMPANY <br /> <br />. <br /> <br />We. the undersigned natural persons of the age of 18 ~ears or <br />more. acting as incorporators of a corporation under the Colorado <br />Corporation Code. hereby adopt the following articles of <br />incorporation for such corporation. <br /> <br />ARTICLE 1 <br /> <br />The name of the corporation shall be The DeWeese-Dye Ditch and <br />Reservoir Company. <br /> <br />I <br />The period of duration of the corporation shall be perpetual. <br /> <br />ARTICLE 2 <br /> <br />ARTICLE 3 <br /> <br />The nature of the business of the corporation, the purposes for <br />which it is organized and its powers are as follows: <br /> <br />1. A non-profit corpcration with the principle business of <br />furnishing irrigation water to its stockholders. <br /> <br />2. To engage in the transaction of all lawful business or <br />pursue any other lawful purpose or purposes which directly <br />relate to the principle business of the company. <br /> <br />3. To have. enjoy and exercise all of the rights, powers and <br />priviledges conferred upon corporations organized under the laws <br />of the State of Colorado, whether now or hereafter in effect, and <br />whether or not herein specifically mentioned. <br /> <br />4. The following enumeration of purposes and powers shall <br />not limit or restrict in any manner the exercise of other and <br />further rights and powers which may now or hereafter be allowed <br />or permitted by law. <br /> <br />ARTICLE 4 <br /> <br />1. The aggregate number of shares which the corporation <br />shall have the authority to issue is 7258 shares consisting of <br />one class only and without par value. In the absence of fraud in <br />the transaction. the judgement if the Board of Directors as to <br />the value of the consideration for shares issued shall be <br />conclusive. <br /> <br />2. The corporation shall have the right to impose <br />restrictions on the transfer of all. or any part of. its shares - <br />and may become party to agreements entered into by any of the <br />shareholders restricting transfer or encumbrances of its shares, <br />Shares of the corporation are tied to the land and can not be <br /> <br />12 <br /> <br />- -~-----._----_..._. .._,,-..................-,..,-......-_.~--- <br />