PROJ00378

• Contract/PO #: C153790
• Contractor Name: Durkee Ditch Company
• Contract Type: Loan
• Water District: 40
• County: Delta
• Bill Number: SB 97-008
• Loan Projects - Doc Type: Feasibility Study

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BY-LAWS

OF THE

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DURKEE DITCH COHPANY. INCORPORATED

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ARTICLE I.

Corporate Name

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Section l.

The corporate name of said c,?mpany shall be the
Durkee Ditch Company, Incorporated.

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ARTICLE II.

Principal Place of Business

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Section 1.

The principal office and place of business of said
company shall be In Delta County, State of Colorado.

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ARTICLE III.

Capl tal Stock

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Section I.

The capital stock of said company shall consist of
500 shares of Class A stock.

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a) The 51)0 shares of capl tal stock shall be non-accessible
except for purposes of repairing and maintaining said ditch
and collection ditches.

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b) Each share of Class A stock shall represent one (I)
vote at the regular or special meetlng(s) of the members.

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c) All assessments shall be considered due as soon asnotices
thereof are mailed, and all assessments shall be delinquent
thirty (30) days thereafter, and the Board of Directors shall
have power to withhold the delivery of water and the rendering
of other services from any del influent stockholder unti I the
assessment is fully paid. In addi tion, thereto. the Board of
Di rectors may recover any del i nquent assessment by selll ng so
much of the stock of the delinquent stockholder as may be neces-
sary to meet the delinquency, plus interest at eight (8) percent
per annum on the amount of delinquency and plus all costs of
such sale. Such sale shall be made as provided by law. and
the Board of Oi rectors in the name of the Corporation may pur-
chase same in the name of the Corporation and may thereafter
sell and rei S5ue such stock.

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ARTICLE IV..

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Seal

Section I.

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The seal of this corporationi shall have inscribed
thereon the name of the company and the words
I'Corporate Seall' and IIState 'of Colorado".
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