PROJ00476

• Contract/PO #: C153594
• Contractor Name: Handy Ditch Company
• Contract Type: Loan
• Water District: 4
• County: Larimer
• Bill Number: HB 91-1006
• Loan Projects - Doc Type: Feasibility Study

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B. Laws Under Which OrQanized
The Handy Ditch Company is a corporation organized under the laws of the
State of Colorado. A copy of the Certificate of Incorporation and the ditch
company by-laws are shown in Appendix A.

C. Powers and Authorities of OrQanization
The powers and authorities of the Handy Ditch Company are as set forth
in the Certificate of Incorporation and the By-laws. The Articles of
Incorporation state that the objectives of the Handy Ditch Company are to
". . . construct, operate and maintain a Flume and Ditch and to convey water
through the same and along the line thereof to be used for mining, milling,
manufacturing, irrigating, piscatorial and domestic purposes."
The By-laws note the following:
The shareholders at each annual meeting will make' a prorated
assessment on the capital stock for the purpose of providing funds for the
fo 11 owi ng:
1. The operation and maintenance of the Company for the ensuing
year.
2. Capital' improvements including water rights.
3. Retirement of debts and obligations.
4. Other lawful activities.
The By-laws further state that "The affairs of the Company will be
managed and directed by a Board of five members who are stockholders in the
Company." The responsibil ities and functions of the Board of Directors are as
foll ows:
1. Selection and delegation of authority to manage the company
according to the By-laws.

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