IN LIEU OF ORGANIZATIONAL MEETING
OF THE EXECUTIVE BOARD
OF THE GARAGES OWNERS ASSOCIATION, INC.
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PURSUANT to C.R.S. §7-122-105, the undersigned Wayne Leighton, Ken Eberly and
Donavan Hockett, being the initial Directors of THE GARAGES OWNERS ASSOCIATION, INC., acting without notice or a meeting, hereby waive notice and the holding of such meeting and consent to, adopt and vote in favor of the following resolutions:
RESOLVED, that a copy of the Articles of Incorporation, as filed in the Office of the Secretary of State of Colorado on May 24, 2007, be placed in the Minute Book of the Corporation.
FURTHER RESOLVED, that the Certificate of Incorporation be placed in the Minute Book of the Corporation.
RESOLVED, that the Bylaws in the form presented to the Directors be and they are hereby adopted as the Bylaws of the Corporation effective this date, and that a copy of such Bylaws be placed in the Minute Book of the Corporation.
RESOLVED, that the Directors shall choose a principal bank for the Corporation.
FURTHER RESOLVED, that the Bank is hereby designated as a depository of the Corporation and that a checking account be opened and maintained in the name of this Corporation with said Bank; and that the President, Secretary, and Treasurer are each authorized on behalf of this Corporation, and in its name: to sign checks, drafts, notes, bills of exchange, acceptances, or other orders for the payment of money from said account; to endorse checks, notes, bills, certificates of deposit, or other instruments, owned or held by this Corporation for deposit in said Bank; to accept drafts, acceptances, and other instruments payable at Said Bank; to waive demand, protest, and notice of protest, or dishonor of any check, note, bill, draft, or other instrument made, drawn or endorsed by this Corporation.
RESOLVED, that the following named persons be and they hereby are elected to the office or offices set forth opposite each of their names to serve until their successors shall be elected and qualified:
|Donovan Hockett||Vice President|
|Ken Eberly||Secretary / Treasurer|
RESOLVED, that the President is authorized to obtain all insurance and fidelity bonds required by the Declaration or Bylaws. To the extent available, the President is authorized to obtain liability coverage for all officers and members of the Executive Board of the Association. All officers and Directors shall be held harmless and be indemnified to the extent permitted by law, including reimbursement for legal fees, in the event of loss, damage or claim engendered by their service.
RESOLVED, that the fiscal year of the Corporation shall run from January 1
to December 31.
RESOLVED, that the Secretary is authorized and directed to maintain a record of the names of Unit Owners and other records required to be kept by the Association as set forth in the Bylaws.
Dated, effective April 1, 2007.
Signed for the Directors: Wayne Leighton, Ken Eberly and Donavan Hockett