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<br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br /> <br />Certificate of Incorporation <br />The New Cache La Poudre Irrigating Company <br /> <br />3 <br /> <br />Third: <br /> <br />To borrow money on its note, or otherwise, for any <br /> <br />corporate purpose when deemed necessary by its Directors, and to <br /> <br />provide for the payment of the same by assessments on its paid up <br /> <br />capital stock or by deed of trust or mortgage on its franchised and <br /> <br />corporate property. <br /> <br />Fourth: <br /> <br />That the amount of the capital stock of this <br /> <br />Corporation shall be $100,000.00 divided into 2500 shares of the <br /> <br />par value of $40.00 each. <br /> <br />Fifth: That the ownership of stock in this Corporation shall <br /> <br />constitute and represent the ownership of a water privilege or <br /> <br />right, and that the owners of its stock shall be the owners of its <br /> <br />priority and appropriations and shall be entitled to the use of its <br /> <br />appropriated water flowing in said Canal in the proportion and <br /> <br />ratio that each share of stock held by any consumer bear to the <br /> <br />whole number of shares, and the conveyance of any such water right <br /> <br />shall be made by the conveyance of its stock. <br /> <br />Sixth: Each person owning one or more paid up shares of stock <br />