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<br />'" / <br /> <br />e) To assume the ownership of all water and water rights, <br /> <br /> <br />ditch and ditch rights, and all properties and assets of the formerly <br /> <br /> <br />incorporated The Rio Grande and Piedre Valley Ditch Company. <br /> <br /> <br />f) To purchase, or otherwise acquire, hold, own, mortgage, <br /> <br /> <br />sell, conveyor otherwise dispose, of water and water rights, <br /> <br /> <br />easements, ditch rights-of-way, real and personal property of every <br /> <br /> <br />class and description. <br /> <br /> <br />g) To do everything necessary, proper, advisable, or <br /> <br /> <br />convenient for the accomplishment of the purposes hereinabove set <br /> <br /> <br />forth and to do all other things incidental thereto. The purposes <br /> <br /> <br />herein set forth are to be construed both as Purposes and Powers; and <br /> <br /> <br />the specification of particular powers is not intended to be a <br /> <br /> <br />limitation of the general powers herein contained or in limitation of <br /> <br /> <br />the powers granted to corporations under the laws of the State of <br /> <br /> <br />COlorado, but is intended to be in furtherance thereof. <br /> <br /> <br />ARTICI,E IV <br /> <br /> <br />(Authorized Shares) <br /> <br /> <br />The aggregate number of shares which the corporation shal} <br /> <br /> <br />have authority to issue is 250 shares, at a stated par value of <br /> <br /> <br />$50.00 each. The corporation shall be empowered to recognize the <br /> <br /> <br />insued and outstanding shares of stock and the ownership there!l:, ac <br /> <br /> <br />presently shown on the stocklist in the records of the de jure Rio <br /> <br /> <br />Grande and Piedra Valley Ditch Company. <br /> <br /> <br />ARTICLE V <br /> <br /> <br />(Voting Rights) <br /> <br /> <br />Every shareholder of the Corporation shall be entitled to <br /> <br /> <br />one vote for each share of stock standing in his name on the books of <br /> <br /> <br />the COlporation. Cumulative voting shall be permitted as provided in <br /> <br /> <br />the C0]orado C0rporation Act. <br /> <br />ARTICLE VI <br />(BY-Laws) <br />The Board of Directors of the Corporation shall have the <br />power to make, alter, amend or repeal the by-laws, and specifically <br />9hall have the right to adopt the by-laws of the de jure Rio GranCe <br />and Piedra Valley Ditch Company as they now exist. <br />-2- <br /> <br />iL.~~ c.._".,;,.~, <br />