2015-01-16_PERMIT FILE - M2015001

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0 -13- levying such assessment and the amount and purpose thereof shall. have been first submitted to a vote of the Stockholders at an annual meeting thereof or at a special meeting thereof called for that purpose and in either case the purpose and amount of such assessment shall be stated in the notices of such special meet- ing. It shall require the vote of the majority of the Stock- holders of the company present at said meeting to authorize any assessment upon the stock. All assessments shall be levied pro- . rata upon all shares of stock outstanding at the date of the assessment. Section 2. If any Stockholder or holder of a share of water shall fail or refuse to pay the amount of any assessment levied upon or against the shares of stock or shares of water held by him or her for the period of thirty (30) days after a written or printed demand shall have been made therefor, deliv- ered either personally or mailed through the United States mails to such Stockholder or water share holder at his or her last known Post Office address as reflected upon the books of the company, and to any person known by the Secretary to be interested in said stock, then the amount due the company shall bear inter- est from the date when the same should have been paid at the rate of two percent (2%) per month and the Secretary shall as soon as practicable send a second notice to each Stockholder who has not paid the said assessment which shall state the same facts as set forth in the first notice and in addition shall state that if the assessment is not paid within forty (40) days from the date of said notice the stock or shares of water of the owner in default shall be sold at public sale for cash to pay said assessment together with interest and costs of sale. The second notice shall be delivered to the Stockholder or holder of shares of water at least thirty (30) days before such forfeiture and shall be delivered to the delinquent Stockholder or holder