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<br />or franchises of tho company.
<br />(8) To make any and all proper contracts for carry-
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<br />1ng. on .tho bu.alnoDo of tho oompony, nnd, \"I'hon lnwrul11 llutborlJ:otlt
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<br />,~.:..;:/.~i).~,:~/.i;,..'.:,\:~jl:".~~/';';~.;tO:;d1ep088 ;or:and'traneter. any of tho ditcheD, ClUl1111l, ,roeOTT01n~:: ..,.,.
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<br />"'>";':~':' .C:' . ',:: ':;. '.:....a"tor righ"ts, or priorities owned or which may be acquired by .
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<br />the. CO~p811Y.
<br />(9) To construct, maintain and operate ditches, canals,
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<br />The cnp1tal stock of Bold oornpany shall COD010t of
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<br />_:~~r.tY~!S1x'.ThOUSll.nd:.Four'.'Huridl"ed' 1l1neby-tbroo : (M;493) {aba'rea ',i','":''' ;f:i'~i'
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<br />t:,f"!~w1thou~ nominal or par value. Of the consideration received
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<br />I~f . therefbr, One Dollar ($1.00) per share shall be considered to be ,
<br />i cap1tafl., but this said company is not organized for profit either '.'
<br />'direct1y or indirectly, Therefore, said shares of stock shall
<br />be: ta~en to represent and shall represent rights to water for
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<br />or re8~rvoirs and "to exercise all the powers incidental to those
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<br />;j here1n~efore enumerated aOO necessary or proper to carry into
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<br />ef~ect,such powers here speoifically enumerated and olaimed
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<br />~ an~ by! all lawful means whatever to increase tbe available
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<br />'water $upply for the benefit of water right owners under tbe
<br />. .ind.,d l.rrigation system.
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<br />THIRD.
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<br />lrr1ga!tion and other purposes from said irrigation system
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<br />and shall be issued in exchar.~e for the outstanding water
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<br />rights heretofore granted by The Arkansas Valley Sugar Beet
<br />and I~rigated Land Company and its predecessors in ovmership
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<br />of sa~d canal and reservoir system, nnd to said 'company, as
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<br />water from said. irrigation system is or may be hereafter al-
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<br />:';looatd.d to it by order or .decree of Court. Each share of
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<br />stock !shall represent the right to water from said system
<br />suffiqient to irrigate one nero of lat'.d to a maximum of 1.85
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<br />acre feet per acre during an ir'r:l.gatj.on season commencing
<br />wfth the First dny of April and ending on the Thirtieth day
<br />'or September of each year, together with such an amount, not
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