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C150108 Feasibility Study
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C150108 Feasibility Study
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Last modified
9/27/2011 10:25:25 AM
Creation date
10/6/2006 12:05:36 AM
Metadata
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Template:
Loan Projects
Contract/PO #
C150108
Contractor Name
Delta Canal Company, The
Contract Type
Loan
Water District
40
County
Delta
Bill Number
MC3
Loan Projects - Doc Type
Feasibility Study
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<br />directors to be elected, or may be instructed to cast a <br />unanimous ballot for or against any said issue being voted upon. <br /> <br />ARTICLE 7. <br />Debts <br />No debts shall be contracted against this corporation except <br />by order of the Board of Directors or the Executive Committee. <br /> <br />ARTICLE 8. <br />Executive Committee <br />The Executive Committtee shall consist ofthe President and <br />Secretary- Treasurer, and shall have full power and authority <br />to perform, do and authorize all matters and things required <br />of said corporation or necessary or proper, subject to the <br />supervision of the Board of Directors. <br /> <br />ARTICLE 9. <br />Transfers <br />Transfers of stock, to entitle a stockholder to vote, must <br />be made and registered at least three days prior to the time <br />of meeting. <br /> <br />ARTICLE 10. <br />Assessments <br />The capital stack ofthis corporation is Two Thousand Five <br />Hundred Dollars (2,500.00), divided into one hundred shares <br />ofTen Dollars (10.00) each, and said stock is assessable by <br />the stockholders at the annual meetings of the stockholders. <br />The Board of Directors of this corporation shall have <br />the power to levy assessments on said stock for all lawful, <br />purposes in the event the stockholders fail to make <br />assessments; PROVIDED, HOWEVER, That no assessment <br />or levy shall exceed twenty per cent (20%) of the amount <br />of the par value of the stock issued and outstanding in any <br />one year, and that in the case of the making of any such <br />levy the stockholders of record on the books ofthe corporation <br />shall be entitled to at least ten days' previous notice of the levy <br />of any such assessment, to be given prior to the time of payment <br />of such assessment either personally or by living at the place of <br />residence of any such stockholder such notice with any member <br />pg.3 <br />
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