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<br />. <br /> <br />-' '... <br /> <br />. <br /> <br />. <br /> <br />LOvmR A-'l.KJ\NSAS WATSR MAN'AGEl-1ENT ASScC:,\TIO~ <br />nOfu,D 0F DIRECTORS <br /> <br />hnr:RCAS, the Lower Ark.:\.nc.:..c W~t:c=, t-i':":':l\.i.g<.'::ncnt 1\:;zocia.t.lo:1 <br />~ Ir'Z-;":~:,,vvll is 0. no:-.-profit co::-poration gover::cd by the 1':1\"'~ o( the <br />S~DC.C of Col.:>radc, its 1\rl:iclct:i of Incorporut.icl'l. ~r.d i~c nyl.1'....n; <br /> <br />.....n1~R8AS" Article V of LAJvMA's Al..ticlcs 0: Inco::-por.:lt.:.on vc:)ts <br />0:1 the Board 0: Directors the, control and TI'.<lnugemet:t or th<'! <br />business ilnd affairs of the cO::-9oration; <br /> <br />v)J-(ERCAS, Areicle VII of LA..,"!.1\.' s Articles of Incorporiltio:1 <br />adcpted on January 23, 1973 providco, in purt: <br /> <br />"Each member shall have ene vote in the <br />corporation I c affo.ir~ and business fer cne::. <br />share of stock he o~ns..,. Each member shall <br />be entitled to one share of stock for each laC <br />ucre-fcct of water pumped each year"; <br /> <br />WHERZAS, the present. 3y1<1WS Article II, Sectio:1 J., en the <br />o~hcr h~nd p~ovide: <br /> <br />"Each pCrllO:1 holding <br />enticled to one (1) <br />incre~ent paid into <br />previous yea.r. II <br /> <br />a membership ohall be <br />voce for each $25.00 <br />the Associotion the <br /> <br />~IliER=:AS, the Bylaw needs to be amended to conform to eh" <br />A-:-ticles. <br /> <br />~dE~SAS, Article VII may be subject to some misinterpretation <br />~~ to th~ vo~i~g b~acket and some uncer~~i~ty ~c to t~Q mct~od of <br />calcul1lting the <:lmount of water pumped by each member e:lch YC:;)'I.'. <br />Th~ int.cncion of the Articles is to provide one vote to mcm~ers <br />pu~p:.ng bct",.;een zero and. 100 acre-feet, two votes :0::: puU\?ing <br />becween 100 and 200 acre-f~et, and so on. The intent is to baon <br />the n'~mber of vot:eS on the amo"rlt pumped in tl~o.': y"ar, but: "incc <br />the .c.nnu<:ll mem.ber"hip precedes the pum?ing season. it it:; not <br />po~siblc to preei~ely determine in advi:lnce ehe amOunt pum?c'd. <br /> <br />!\',.JEll.;:AS. the Board of Directors haG d':ltcl.':nin,~d tr.o.~ <br />c:arific~t.ion cf the votin9 method described in Article VII of the <br />l>.r'.:iclne 0: Ir..corporation iD necessZlry for ch,;: ef:icicill::. rnQ.:1.35'~:nCl)~ <br />of ~hc business and ~ffdir~ of the corpor~tion; <br /> <br />NOW, THERE~OIl.E. BE IT RESOLVED BY T>ffi BeARD OF DIRECTORS OF <br />L."'HI'.A TH1\l': <br /> <br />1. The foregoing recitals arc ac!opt"'c. "5 fincti.ngs by the <br />bOilrd of Directors. <br />