West Paradox Watershed Application for P.L. 566 Project ‎(4)‎

• Description: Paradox Valley - PL 566
• State: CO
• Basin: Gunnison
• Water Division: 4
• Date: 7/7/1964
• Author: Donald H. Hamburg, CWCB
• Title: West Paradox Watershed Application for P.L. 566 Project
• Water Supply Pro - Doc Type: Board Memo

cubic foot of water per second of time owned under
the contracts, the owner is entitled to 267 shares
of Class I stock. The delivery of one second foot
for each 267 shares shall be from April lst to
October 15th of each year - and is to be satisfied
before any rights accrue under Class III stock
(b) Class II stock to be issued is 378 shares.
The issuance of said stock shall not affect the
rights of the holders thereof of their priority
out of Deep Creek. It is provided that the owners
of each 189 shares (i.e., two) are entitled to 1.06
c.f.s. from May lst to June 1st, and 33.92 statutory
inches from June lst to October 1st, except when
Deep Creek flows less than 4.02 c.f.s. from July lst
to October lst, then the owners are entitled to
2 /5ths of the flow or so much as the company can
obtain from Deep Creek.
(c) Class III stock is to be issued to holders of
"B" contracts. The basis of issue is one share of
Class III stock for each acre -foot of water under
the "B" contracts. Class III stock is to be issued
to holders of "C`° contracts on the basis of 1.25
shares of Class III stock for each acre -foot of
water under the "C" contracts.
4. Class III stock is assessable for all purposes.
Class I and Class II is assessable for all purposes
except enlargements or extensions. Assessment is by
vote, except on enlargements and extensions, and then
by 2/3 votes of Class III stock.
5. Class III stock is issued to holders of "B" and "C"
contracts outstanding. No new issues of Class III stock
unless company has ability to deliver additional water
and 2/3 vote of stockholders. No additional shares of
Class I and Class II stock may be issued. No more than
25,000 shares of Class III stock may be issued.
Your first question concerning this company is as
follows:
If the Class III stockholders are willing to
enlarge Buckeye Reservoir under a P. L. 566 project,
can the Class I stock draw on the enlarged reservoir
Memo -2- July 7, 1964