Laserfiche WebLink
<br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br /> <br />SECTION 3 - SECRETARY/TREASURER: Shall assist the President <br />as a member of the Board, keep the records of all <br />proceedings of regular and board meetings, and take care of <br />all Company correspondence under the direction of the <br />President. Take care of all Company funds, be prepared to <br />give a financial statement when asked, and sign all Company <br />checks along with the President. Shall deposit all monies at <br />such depository as shall be designated by the Board. <br /> <br />ARTICLE VI - FINANCES <br /> <br />SECTION 1 - All funds of the Corporation shall be deposited <br />to draw a favorable rate of interest in a bank or other such <br />depository as authorized by the Board. <br /> <br />SECTION 2 - Annual dues will be collected for the purpose of <br />funding maintenance, emergency repairs, and administrative <br />expenses. Dues shall be based on expenses incurred in ditch <br />maintenance and repairs and shall be due in September, and <br />delinquent after December 1st of each year. Delinquent dues <br />will be charged interest at the rate of 1% per month until <br />paid. At the recommendation of the Board, a lien may be <br />filed against the property of delinquent users. <br /> <br />SECTION 3 - Special assessments to fund construction or <br />other major expenses may be determined necessary by the <br />Board of Directors. Any such assessments shall be approved <br />by a majority vote of the membership at the Annual Meeting <br />or at a special meeting. If the membership fails to approve <br />the recommended assessments, the Board of Directors shall <br />have the power to set special assessments as required for <br />the continued operation of the ditch. <br /> <br />SECTION 4 - The Board may authorize any officer or agent to <br />enter into any contract or execute and deliver any <br />instrument in the name of and on behalf of the corporation, <br />and such authority may be general or confined to specific <br />instances. . <br /> <br />SECTION 5 - No loans shall be contracted on behalf of the <br />Corporation and no evidence of indebtedness shall be issued <br />in its name unless authorized by the Board of Directors. The <br />purpose of said loan must have been approved by a vote of <br />the membership. Such authority may be general or confined to <br />specific instances. <br /> <br />ARTICLE VII - NOMINATIONS AND ELECTIONS <br /> <br />SECTION 1 - The membership will elect the Board of Directors <br />at the Annual Meeting. Nominees may be made by a nominating <br />committee or may be made from the floor. <br />