C150063 Feasibility Study

• Contract/PO #: C150063
• Contractor Name: Jackson Lake Reservoir & Irrigation Company
• Contract Type: Loan
• Water District: 1
• County: Morgan
• Bill Number: SB 94-29
• Loan Projects - Doc Type: Feasibility Study

Section 3. The Board of Directors at their first meetinp;
and annually thereafter upon the first meeting of a newly elected
board shall elect a President and Vice-President from their own
number, also appoint a secretary and a treasurer who mayor
may not be a member of said board or a stockholder of the company
which said officers shall be elected or apDointed for one year
or until their successors are duly elected or appointed and
qualified, but subject to removal at any time by the vote of a
maj ority of the board at a meeting thereof.

Vacancies in any office may be filled at any meetinp. of the
Board by a maj ority vote of the directors.

Section 4. The Board of Directors shall employ when
necessary such superintendents, ditch riders, watchers, and
other employees which in their judKment are necessary for the
operation, maintenance and repairin~ of said c~pany's property
and allOll and pay them such cO\1lDl!nsation as in their judgment
is necessary and may discharp;e any of the sarne at their pleasure
and shall annually fix the amount of compensation, if any, to be
paid to the Secretary, the Treasurer, and other emo10yees of the
company and the time or times at which the same shall be paid;
and the power to require any officers, agent, or emoloyee to furnish
bond and surety for such amount as they may from time to time
think proper for the proper discharp;e of their several duties.

Section :i. The first meeting of any newly elected
Board of Directors shall be held promptly after adjournment
of the Annual Stockholders Meeting and re~lar monthly meetings
of the Board of Directors shall be held at the offices of the
company at Fort Morp;an, Morgan County, Colorado, upon the 1st
Saturday of each month at the hour of 10:00 A. M. and any
regular meeting or sDecia1 meeting held pursuant to call three
directors shall constitute a ouorum for the transaction of
business. A special meetin~ .without call shall be valid
provided three directors are present. Call meetinp;s may he held
At any time with call of any two directors, provided three days
notice thereof be given by mail.

(Amended at meetinp; held 3/7/31)

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Seventh:

Eighth:

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Ninth:

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Tenth:

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Eleventh:

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to supervise all the acts of the officers
and employees of the company.

to cause to be issued to the party entitled
thereto the stock of the company under the .
provisions of the certificate of incorporation
certificates of shares of stock according
to their respective rip;hts and interest not
to exceed in the aggregste the capital stock
of the company.

to audit and pass upon all bills and accounts
against the company.

to fill all vacancies in their own board and
to elect all officers of the company.

and generally do and perform all acts necessary
to fully manage and operate the properties of the
company.

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Section 6. All vacancies occuring in the Board of Directors
by death, res1gnation, disqualification, refusinp; to perform the
duties of directors, or otherwise may be filled by vote of a
majority of the remaining members of the Board.

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