C150208 Feasibility Study

• Contract/PO #: C150208
• Contractor Name: High Line Canal Company
• Contract Type: Loan
• Water District: 17
• County: Otero
• Loan Projects - Doc Type: Feasibility Study

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Company shall have been issued the holder thereof,
at such times as all stock shall be needing and call-
ing for water shall receive for each share thereof
one two thousand two hundred and fiftieth (1-2250)
part of the water flowing in said canal. Nothing
berein contained shall authorize the delivery of wa-
ter wbich has been transferred to the Company's
canal by a decree of court, to shareholders who
have not participated in paying assessments levied
for the purchase of such water.
SECl10N 3 - Transfer of Certificates: Each
certificate of stock shall designate the land upon
wbich the stockholder owning the same is to apply
the water represented by said certificate. at tbe rate
of one share for every ten acres, and sllCh water
shall not be applied to any other land; provided,
however, that no certificate shall be issued or au-
thorize any such water to be applied to any lands
without the boundaries of the Counties of Otero
and Pueblo, Colorado, sllCh waters to be used in
Pueblo County, Colorado, are limited to lands ly-
ing East of the West boundary line of Range 60
West of the 6th PM., and no such new certificate
shall be issued until the old certificate has been
surrendered to the secretary for cancellation.
Each bolder of corporale stock shall be entitled

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be paid to the Company prior to engaging such
services by the boanI of directors. In sllCh event
the boanl of directors may, without penalty or li-
ability, defer any such determination until such
condition be met.
In case a portion of the land owned by any stock-
holder and to wbich water is attaChed lies above
the canal of the Company, the boanI of directors
may, in its discretion, pennit the pumping of water
from the Company's canal to and upon said lands
lying above said canal; sllCh pumping shall not,
however, be a mauer of right and shall only be al-
lowed by the boanI of directors in cases where no
stockholder shall be injured by sllCh pumping.
SECl10N 4-Lost Certificates: No new cer-
tificates shall be issued in case one is declared to
be lost except on receiving a satisfactory bond of
indemnity against such lost certificate running to
the Company, and them only by onIer of the boanl
of directors after sworn evidence or affidavits sat-
isfactory 10 the board. of the loss of sllCh certifi-
cate shall have been submitted. The bond herein
provided for sball be a surety bond satisfact~ to
the boanI of indemnity against such lost certifi-
cate running to the Company, and then only by
order of the boanIofdirectors after sworn evidence

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to receive from the Company's canal, water for
domestic and irrigation purposes in the following
amount: the proportion of lbe total water avail-
able to and deliverable by the Company under the
properties of the Company (or purchased or Olber-
wise oblained by the Company) which each
stockholder's shares bears to the tota1 number of
shares of stock issued and outstanding. Each stock-
holder desiring to change the place to which any
water he may be entitled shall be delivered, shall
make wrinen request therefor to the directors. If,
in the opinion of the directors, such transfer may
be made without injury to the canal, the Company,
or other stockholders, such water shall be them
delivered to such place or places as requested.
Provided that in sllCh case all other stockholders
who are entilled to delivery of water at either the
place from or 10 which delivery is changed shall
be notified in writing of such change. In the event
that lhe boanI of directors, in making any such de-
termination as provided herein, shall require legal
and/or engineering services for the purposes of
making sllCh detennination, the cost of all legal
and engineering services shall be paid by the stock-
holder making such request and the boanI of di-
rectors may require that the estimated costs Ihereof

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or affidavits satisfactory to the board. of the loss
of such certificate shaII have been submitted. The
bond herein provided for shall be a surety bond
satisfactory to the boanI of direclots and by said
boanI approved at a regular or special meeting, OR.
Any owner of capital stock, as shown by the
records of a corporation organized and existing
under the laws of the slate of Colorado. entilling
the stockholder to the services of a dill:h or to the
use of water subject to the payment of assessments,
or the legal representative or assignee of any sllCh
stockholder, whose stock certificate has been lost,
mislaid, or destroyed, may have a duplicate cer-
tificate issued in accordance with the following pre-
visions.
If more than three years have elapsed since such
stockholder, legal representative, or assignee has
notified the corporation that sllCh certificate has
been lost, mislaid, or destroyed, and such stock-
holder. legal representative, or assignee has paid
all assessments levied by such corporation against
such stock since such notification, the stockholder
or his legal representative or assignee may file with
the secrelliry of said i:orporalion a statement under
oath that the certificate of stock has been lost, mis-
laid. or destroyed and that the certificate is the prop-