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C150316 feas study
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C150316 feas study
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Last modified
4/20/2011 3:45:32 PM
Creation date
4/20/2011 10:45:29 AM
Metadata
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Template:
Loan Projects
Contract/PO #
C150316
Contractor Name
Trinchera Irrigation Company
Contract Type
Loan
Water District
35
County
Costilla
Loan Projects - Doc Type
Feasibility Study
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s <br />the intereata of its etookholdera. And, with reYerenoe <br />to sa.id capital etook the following provislone are hereby <br />epeoifioally impoeed upon the iseuanoe, eale or disposition <br />thereof. <br />8eotion 1. The Board o� Direotors ehall ba <br />and are hereby authorized, ae a part and portion of the <br />consideration Por the aonveyance by The Trinchera <br />Irrigation Dietriot of sll of ite irrigation system, <br />as hereinbefore and in Artiole II epeoified, to <br />iseue and to deliver to eaid The Trinohera Irrigation <br />Distriot or to auch persons, firme or oorporationa <br />. as eaid District may in writing epeoify, a oertificate <br />or certifioatea of stook for a number oi the shares <br />thereoi which eha11 e9ual the total nwnber of acres <br />upon �hich all Distriot aeseesments, for maintenanoa <br />and operation, shall have been pa,id for the yoare <br />1941, 1943 and 1943; Provided: That no etook ehe11 <br />be issued to the owner of any lande for the irrigation <br />of such landa which, by reason of the nature o� the <br />eoil or the presence of eeepaga ie not eu8aeptlbla to <br />praotioal irrigation. Beiore the lesuanoe of euoh <br />certitioates, and Qa a conditlon preaedent thereto, <br />the Bor�rd ot Direotore oY the Company eha.11 require all <br />land ownere who claim to be entitled to reoeive eaid <br />etock to subwit to the board, �or its inepeotion and • <br />regietration, abetraote of title to their lands, or <br />deeds thereto, or contro.ots oP purahase thereof, or <br />suoh other evidenoes of ownerehip as the Board may <br />require. Copies of deeda or other instrumenta of <br />conveyance to suah land owners, duly oertified by <br />the County Clerk and Recorder of Ooatilla County <br />may be aooe�ted by the Board under the term "other <br />evidenoe oi ownerahip.�" <br />Beotlon 2. Each ehare oi the oapital etook <br />of thie Comnany ahall entitle the holder thereof to <br />reoeive water for the irrigation of one aore ot land. <br />In the event, during any yea,r or yeare, there shall <br />be ineutfioient water for the irrigatton at all of <br />the land served by the Oompany to the eztont of ite <br />full needs, then eaoh ehara of stook ehal], entitle <br />the oRner thereof to the pro rata of sharo ot water <br />available to the entire aoreage, ror the purpoae oi <br />3rrigating ona aore oP land. <br />8eation 3. None of said oupital etock ehall <br />ba iseued or sold to any other pereone, tirma or <br />corporations other thau thoea Rho shall have been <br />ownere of land end usere oi xater within the bounder- <br />les of The Trinoher� Irrigation Dietrict during the <br />-2- <br />r1 <br />U <br />
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