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du�—cu—ol 03:30PM FROM—KNIGHT PIESOLD AND CO.. 3036288T88 T-687 P.005/006 F-402 <br />He shall keep a complete set of books shoa%u►g all the acconuts, property and traosactionS of the <br />Company; he shall carefully examine all bills due or againsc the Company; he suall prepaze <br />vou�hars for all such 6ilis as he fuids cottect agaiust the Company and present them to the Board <br />of Directars for their acdon; he shall collect all assessmenrs and moneys due rhe Compau,y and <br />issue receipts therefora, with proper stub of the same an file and shall asiuually make a report af <br />this o�ce, or oftener if so ordered, w the Board of D'uectors, which annual report sl]all be <br />include din the President's report tn che members. <br />• i <br />�1�; .YI�I_�:..Y_,. �.. !��i�i. <br />Section 1. All persons who own stock on the CEDAR MESA DITCH AND RFSERVOIR <br />COMPANY aze s6areholders, entirled to a stock �ertift,cate. "['he memberships may be <br />Qansferable only upon the 6aoka of the company, by assignment documents as recognized by the <br />Secretary af the Compaay. <br />� ���Il� r.� � _��:.� Y111.._.._. <br />Secrion 1. Tn the event tim revenues of rhe CompaclY are insufficient at any time tn pay <br />current costs of operatinn and maintenance and any debt retirement payments or in cases of <br />financial emergency requiring the Jevy of a special assessmeut, the Board of Direcbors may oall a <br />special meating of the membete sn consider the question of ►evying such special assessnnent as <br />may be re4uired w make up the deficit or tn meet the emergency. If there aze iasufficient <br />members preseot to constitute a quorum, or if the members fail tio levy an adaquate assessment to <br />talse sare of auch defieit or emergency, tlten it shail be the duty of tb,e Board of Directors tn <br />procrr.d to malce such levy and taake the same for the purposes req�ired. <br />