PROJ00529

• Contract/PO #: C153785
• Contractor Name: Chipperfield Lane Ditch, Inc.
• Contract Type: Loan
• Water District: 39
• County: Garfield
• Bill Number: SPL
• Loan Projects - Doc Type: Feasibility Study

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ArnICLE IV

OFF I CEF;:S

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Sect.ioll 1. C;(]mp(J:~.ition. The o-F"t::icer"s o'F this compD.noi shi::tll
c:onl.:::.ist erf F't~E~sident, Vice F'I.~esident, Secr'eti:u"."'l and
Tre2surer, who shall be chosen by the Directors at the ~irst
mc!eting of the "E!oat-d o-F Dir-ectClI'-s:"! 21:t '=: I." the. 5.t-ockhClldEll'-S~
meeting each year.

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Sec.tion 2. Eliqibilitv. The President and Vice President
shall be stockholders of the company." The Secretary and
rre~surer mayor olav not be stoc~,holders. The same
individual Inay hold the o~-Fice 0+ Secretary and Treasurer.

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SE:ction 3. DU.ties.
A. President: It shall be the duty o~ the President o~
trd.::~, company tCj ptHesidE.l at all meetir;~~~~ c)f the stC\ckhold(~r-s
and/or Directors and to sign all agreements or othe~
instruments on beh~l~ o~ the company, to sign all
certi~icates of stock and all orders ~or money 0+ the
Tre&surer, and to perform all acts incident to the office,
all as authorized by the Board of DirectorS or the
stockholders. The President shall sign all documen.tS."n
President, ThE New Multa Trina Ditch Com~any.

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B. ViCE' F'l.->;:~'..?idellt.~
President to act
F'l.-f:2~~, i dent u

c:lS

It shed I
F'~-i:.~S i dent

be the duty o-f
in t !-if? absE":.'nce

thE\
Dr

'-jice
thE'

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c. SE?CI.-et.a!::j~~ The Secn;:;.'tcu--y shall give notice oi: all
meetings o~ the stockholders and Board of Directors, shall
~~eep boo~(s o~ record for the business 0+ the company as the
Directors may pr~scribe~ shall countersign and registel~ all
certificates o~ stock and per~orm all such other duties as
are incident to the o~~ice. He or she shall be the
custodian o~ the books and the corporate seal o~ the
cOfnpany, all 25 authorized by t~le Board o~ Directors or ttle
s~,toc:khCJl det-s:,"

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D~ Tt~(.~'3SUI--(:.:~I.~~ ThE:' Tt-easul.-Ct- shiall be thE? custodiejn cs-F th(::~
funds of the co,npany. He or she shall give satis.Factory
bond ~or the ~:aitllful discharge o~ his or her duties i+ .the
Board o~ Directors shall so require It. No Inofley shall tJe
paid out o~ the Treasury e>;cept on the order o.F .the
President, and with the authorization o~ the Board ().F
Oir-ectors or stoc~(holders.

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