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said ditch into and through the said pass; the course of said North Ditch being in a
<br />general Northeasterly direction from its head to its outlet, and the course of said South
<br />Ditch being in a general northerly direction from its head to its outlet. The outlet of said
<br />ditches being at a point in said pass 1,350 feet south 22 degrees and 50 minutes east from
<br />the North West comer of Section 21, Township 6, North, Range 75 West, in Latimer
<br />County, Colorado; whence the waters diverted from said several streams into and through
<br />said pass, aze to be conducted by means of the natural channel of one of the branches of
<br />the South Fork, the South Fork and the main Cache La Poudre River to the headgate of
<br />the Latimer County Ditch.
<br />4a' - At certain points on the several streams of the head-waters of the Michigan
<br />River, in Latimer County, Colorado, said points being located where ditches would cross
<br />said streams, the outlet of said ditches being in what is known as Cameron Pass, said
<br />ditches having a heavy grade toward said pass, and by means of dams where said ditches
<br />cross said several streams, to divert and convey the water of said several streams along
<br />said ditches into and through said Pass into ]ce Wright Creek to Chambers Lake, thence
<br />through the natural channel of the main Cache La Poudre River to the headgate of the
<br />Latimer County Ditch.
<br />Ss' - At certain points in the several sheams of the headwaters of the Laramie
<br />River, in Latimer County, Colorado; said points being located where a ditch would cross
<br />said streams, the outlet of said ditch being on the divide between Chambers Lake and the
<br />Laramie River, said ditch having a heavy grade toward said outlet, and by means of dams
<br />where said ditch crosses several streams into and along said ditch to and through said
<br />outlet into Chambers Lake; to store the same from time to time therein when desired, and
<br />from thence through the natural channel of the Cache La Poudre River to the headgate of
<br />the Latimer County Ditch; the course of said ditch being in a general Southerly direction
<br />and being from six to twelve miles in length from its head to its outlet at Chambers Lake.
<br />FIFTH -The said ditches, above described, are designed to be constructed of
<br />sufficient capacity to convey all the waters of the said Grand, Michigan and Laramie
<br />Rivers at the several points of diversion.
<br />SD{TH -The use to which the water acquired by the Company is intended to be
<br />applied is for the irrigation of agricultural lands lying in the counties of Latimer and
<br />Weld, under the ditch of the Latimer County Ditch Company.
<br />SD{TH, AS AMENDED on 12/19/1986
<br />SD{TH -The use to which the water acquired by the Company is intended to be
<br />applied, is for the irrigation of agricultural lands, other irrigation, municipal, industrial,
<br />recreational or other beneficial uses within the State of Colorado.
<br />SEVENTH -The amount of capital stock of said Company shall be sixty
<br />thousand dollars, to be divided into six hundred shares of One Hundred Dollars each.
<br />The subscription to said stock shall be limited and confined to those persons and bodies
<br />only, and their successors in interest, who have acquired, or are entitled to water rights
<br />from the Latimer County Ditch Company for irrigation purposes. Such subscribers shall
<br />be entitled to take stock in this Company upon the ratio of one share of stock herein to
<br />one water right in the Latimer County Ditch Company, as heretofore defined by said
<br />Company.
<br />SEVENTH AS AMENDED on 4/30/1892
<br />The amount of capital stock of said Company shall be sixty thousand dollars, to
<br />be divided into six hundred shares of one hundred dollars each. The subscription to said
<br />stock shall be limited and confined to those persons and bodies only, and their successors
<br />in interest, who have acquired, or are entitled to water rights from the Latimer County
<br />Ditch Company for irrigation purposes. Such subscribers shall be entitled to take stock in
<br />this Company upon the ratio of one share of stock herein to one water right in the
<br />Latimer County Ditch Company, as heretofore defined by said Company.
<br />Provided that after the subscription books of the Company have been opened for
<br />sixty days after the adoption of this amendment on the above basis, that the stock then
<br />re~+nin;ng unsubscribed may be open to all persons whether they are entitled to water
<br />rights in the Latimer County Ditch Company for irrigation purposes or not, on such terms
<br />and conditions as the Board of Directors may prescribe.
<br />SEVENTH AS AMENDED on 5/2/1986
<br />The seventh declaration of the Company's Articles of Incorporation is hereby
<br />amended to read in its entirety:
<br />SEVENTH -The amount of capital stock of said Company shall be ninety
<br />thousand dollars, to be divided into nine hundred shares of one hundred dollars each.
<br />There shall be no pre-emptive or preferential rights associated with the issuance of said
<br />stock. Any shares authorized but not outstanding may be issued, sold or exchanged for
<br />water rights or other consideration as established by the Board of Directors of the
<br />Company. The nature, place and time of use of water represented by shares authorized
<br />but not issued as of the effective date of this Amendment, and the transfer of such shares,
<br />may be limited or restricted as determined by the Board of Directors. Treasury stock
<br />hereafter re-issued may be similarly so limited and restricted.
<br />WHEREA, the Board of Directors now desires to place restrictions upon the use
<br />of water of all treasury stock hereafter issued by the Company, as well as upon the newly
<br />authorized shares, upon their issuance; and that therefore the use of the water should be
<br />restricted to areas historically served by the Company, and the shares should not be
<br />transferred to those who might attempt to use them otherwise; and
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