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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 />4 <br /> <br />in the said The Cache La Poudre Irrigating Company, or one or more <br /> <br />paid up 10 acre water rights in said Union Colony not yet exchanged <br /> <br />for ditch stock, shall be entitled to receive and hold therefor one <br /> <br />paid up share of the capital stock of this <br /> <br />Corporation for each share of the ditch stock aforesaid, and for <br /> <br />each 10 acre water right aforesaid in Union Colony, upon making <br /> <br />satisfactory proof of title and executing to this Corporation such <br /> <br />conveyance thereof as shall be prescribed by its Directors for its <br /> <br />own protection. <br /> <br />Provided, however, that no stock shall be issued <br /> <br />upon Union Colony water deeds which have not heretofore been <br /> <br />converted into ditch stock in any case where the use of the water <br /> <br />has been abandoned; and in no case shall stock be issued to <br /> <br />represent a water right where the water represented thereby has <br /> <br />been abandoned. <br /> <br />Seventh: <br /> <br />To take stock in telephone companies, and to <br /> <br />construct telephone lines of its own or assist therein, for the <br /> <br />purpose of affording facilities to its canal and the carrying on of <br /> <br />its business in maintaining and operating the same. <br /> <br />Eighth: <br /> <br />To pay its directors not to exceed the sum of $5.00 <br /> <br />as shall be named by its by-laws, for each and every board meeting <br />