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C150208 Feasibility Study
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C150208 Feasibility Study
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Last modified
6/15/2011 10:08:30 AM
Creation date
7/10/2007 12:48:29 PM
Metadata
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Template:
Loan Projects
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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<br /> <br /> <br />28 <br /> <br />erty of the person making such statement and has <br />not been transferred or hypothecated by him, and <br />demand the issuance of a duplicate certificate in <br />accordance with these provisions. <br />Upon receipt of such demand, the corporation <br />shall publish, at the expense of the person making <br />such demanc:J, at least once a week for five succes. <br />sive weeks, the fifth publication being on the <br />twenty-eighth day after the first publication, in a <br />newspaper of general circulation in the county in <br />which the principal office of the corporation is lo- <br />cated or, if there Is no newspaper In such county, <br />then In such a newspaper of an adjoining county, a <br />notice that such a demand has been filed with the <br />corporation in accordance with these provisions, <br />setting forth such demand in full and stating that <br />said corporation will issue. on or after Ii date therein <br />stated. following the last publication of said notice <br />by at least thirty days, a duplicate certificate to the <br />registered owner or his legal representative or as- <br />signee unless a contrary claim is filed with said <br />corporation prior to the date stated in the notice. <br />If no claim of interest or ownership other than <br />that made by the person filing such notice or his <br />legal representative or assignee is filed with the <br />secretary of the corporation prior to the date stated <br /> <br />30 <br />of directors. <br />SECTION 7: No stockholder shall at any time, <br />except by express written permission and authori- <br />zation from the Manager, open, adjust or other- <br />wise interfere with any headgate. The license to <br />place said lateral headgates upon the risht of way <br />of the Company and in the bank of the ditch. shall <br />at all times be revocable by Ihe board of directors <br />for any cause or reason which, in Its judgment, ren. <br />ders it to the best interest of the Company and its <br />stockholders to cancel or revoke such \icense. <br />Upon such revocation it shall be lawful for the <br />board of directors .10 direct the Manager or such <br />otber person or persons as it shall see fit, to re- <br />move such headgate from. the right of way of the <br />Company.. . <br />SECTION 8: The board of directors, when the <br />installation, maintenance, replacement or repair of <br />a lateral headgate or lateral upon the Company's <br />right of way, is necessary or advisable for the pro- <br />tection or preservation of Company property, or <br />for proper and efficient management and opera- <br />tion ofits system, shall by resolution duly adopted, <br />cause to be performed such installation, mainte- <br />nance, replacement or repair at the expense of the <br />stockholder owning such headgate and/or lateral <br /> <br />29 <br /> <br />in the notice, the corporationjshall issue, on or af. <br />ter said date, a duplicate certIficate to said person <br />or his legal representative or arignee, and all rights <br />under the original certiflcatr shall immediately <br />oease and determine and no Jllf"on shall at any time <br />thereafter assert any claim o~ demand against the <br />corporation or any other pers~n on accountof such <br />original certificate. <br />The corporation may require any legal represen. <br />tative or assignee of a stockholder of record to <br />prove his legal right to such icertiflcate as a legal <br />representative or assignee o( said stockholder of <br />record. i <br />SECTION 5: The books \lfthe Company shall <br />be closed for the transfer Of~'tock ten days before <br />the apnual meeting of the st kholders. <br />SECTION 6. - Headga esr The board of di- <br />rectors shall, by resolution duly adopted and spread <br />upon the minutes of the m~eting at which such <br />resolution is adopted, prescrhe the rules of the <br />Company with reference to !,be installation oflat- <br />eral headgates upon the. Cotitpany's right of way, <br />provided said lateral headg.tes shall remain the <br />property of the stockholdersipaying for the same, <br />but they shall at all times be! under the exclusive <br />control, jurisdiction and ma~agement of the board <br /> <br />I <br /> <br />I <br /> <br />I <br /> <br />I <br /> <br />I <br /> <br />I <br /> <br />I <br /> <br />I <br /> <br />I <br /> <br />I <br /> <br />31 <br /> <br />and shall by such resolution specially asseSs the <br />expense thereof to such stock/jolder. which spe- <br />cial assessment shall be due an~ collectible as pro- <br />vided in Article V of these By-/,.aws of The High <br />Line Canal Company. i <br /> <br />ARTICLE ~ <br /> <br />Assessmen~ <br />SECTION I - Levy: Eac~ share of the capi- <br />tal stock which shall have been issued shall be sub- <br />ject to an annual pro rata assess~ent for the main- <br />tenance and operating expenseS ofthe Company's <br />canal, In an amount to be determined by the stock. <br />holders at the regular annual n\eetinS, and for the <br />payment of outstanding bonds d,fthe Company and <br />interest thereon; provided, that 8 majority of the <br />stOCkholders shall have power ~ any regular meet- <br />ing or at a special meeting c811~ for that purpose, <br />to make any special 8ssessme~t rendered neces- <br />sary to meet unforeseen contln~encies in the oper- <br />ating expenseS of said canal. SaId assessments shall <br />he due at such times as the boatd of directors shall <br />fix. . I <br />SECTION 2 - CoDeetion\ The directors are <br />empowered to declare a forfelt\Jre of stock for un. <br /> <br />I <br /> <br />I <br /> <br />I <br /> <br />I <br /> <br />I <br /> <br />I <br /> <br />I <br /> <br />I <br /> <br />I <br />
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