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{('fIll BY-LAviS OF THE SPRING DALE DITCH COr1PANY ARTICLE I - NAME The Corporate name shall bo The Spring Dale Ditch Company. ARTICLE II - OBJECTS The objects of the Company shall be the constructing and maintenance of an irrigation ditch, as is described in the Certificate of Incorporation. ARTICLE III - STOCKHOLDERS Section 1: Annual Meeting The annual meeting of the stocld101ders for the election of directors and for other purposes shall be held in the City of Sterling, County of Logan, Colo- rado, on the first Saturday in January of each year of its'existence. The Secretary shall mail notices of the Annual Meeting to each stockholder or to the legal representative of each stockholder not more than 20 days and not less than 10 days before the meeting. Said notice to state the date and place of said meeting. Public notice of the time and place of the Annual 1.'leeting of the stockholders shall be publishec at least once, not more than 30 days and at least 10 days prier to the date fixed for said meeting, in a newspaper printed in Sterling, Colorado. Section 2: Delayed Annual r'leeting If for any reason the a1illual meeting3hould not be held on the day fixed in Section 1 of this article, then, it may be held at any time fixed upon by the President after giving legal notice as stated in Section 1 of this Article. Section 3: Quorum A Quorum for the t~^ansact;i0n of business at any meeting o'f the stockholders shall consist of 20% of the stock issued and outstanding represented by the stockholders in person or by their duly authorized proxies, and a majority of the Quorum present shall govern. Section 4: Voting Each stockholder will be entitled to as many votes as he owns shares of stock. Cumulative voting shall not be allowed. Section 5: Special Moetings. Special meetings of the stockholders of the Company may be called at any time by resolution of the Board of Direc-tors, or by the President and Secretary, and the president or Secretary shall call a special meeting upon reqeipt of a written request of the holders of one-half of the issued and outstanding stock of the Company. Tho notice of a special meeting shall state the busi- ness thereof in addition to the time and place, and no business shall be ;ransacted at any special meeting e:cccpt such as shall be mentioned in such notice. The time required for stocY~older notice and publication shall be the same as required for an annual meeting as outlined in Section 1 of this Article.