PROJ00358

• Contract/PO #: C153717
• Contractor Name: South Platte Ditch Company
• Contract Type: Loan
• Water District: 64
• County: Logan
• Bill Number: SPL
• Loan Projects - Doc Type: Feasibility Study

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counterparts and shall be effective as of the date of the
last signature thereon.
ARTICLE III. - Directors
The business and affairs of the company shall be
managed by a board of directors which shall exercise all the
powers of the company except as otherwise provided by
Colorado law or the certificate of incorporation of the
company, and any amendments thereto.
1. Number; Directors to be Shareholders: The
number of directors of this company shall be five. Each
director shall be a shareholder in the company or a repre-
sentative of an entity which is a shareholder in the company.
2. Election: The board of directors shall be
elected at the annual meeting of the shareholders or at a
special meeting called for that purpose.
3. Term: Each director shall be elected to hold
office until the next annual meeting of shareholders and
until his successor shall have been elected and qualified.
4. Removal and Resignation: Any director may be
removed at a meeting expressly called for that purpose, with
or without cause, by a vote of the holders of the majority
of shares entitled to vote at an election of directors. Any
director may resign at any time by giving written notice to
the president or to the secretary, and acceptance of such
resignation shall not be necessary to make it effective
unless the notice so provides.

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