C153742 Feasibility Study - Laserfiche WebLink

Home Browse Search

ARTICLE XII DELIVERY OF WATER The Company will deliver water to any stockholder at the nearest feasible and satisfactory diversion point on any main canal or lateral main- tained by the company, provided that the stockholder so demanding water shall construct and maintain in a condition satisfactory to the Board or its Super- ktendent, a head ditch or lateral leading from such headgate to and upon the lands of the stockholder. The Company will maintain all main canals and laterals which may be acquired by this Company from the Beaver Park Company of Colorado Springs; all head and lead ditches will be maintained by stockholders using the same, and provided always that no transfer of water from one tract of land to another shall be made or permitted except by and upon orders and approval of the Board of Directors. No stockholder shall beentitled to demand or receive water from the waterways fo the company until he snaIl nave paid all assessments due on the stock of the company upon which the demand is made and all charges on the books of the company for maintenance and headgate repairs, and shall have placed his head ditch in condition to receive the same and in condition satisfactory to the Superintendent of this company. All headgates and measuring devices shall be of as nearly uniform specifications as possible, and no headgate shall b installed in the canal of this company or its laterals ~xcept under the direct supervision of the Water Superintendent or Engineer of the Company or such person as the Board of Directors may designate to represent the Board, and no water shall be diverted from the waterways of the Company except through head- gates approved by the Superintendent or Board of Directors. -8- to every bona fide subscriber to the capital stock of the Company in the proportion of one (1) share of stock for each 11 acre feet of water rights in the Beaver Park System, owned by the subscriber under deed or contract from the Beaver Park Company of Colorado Springs and on payment of such assessments as may then be outstanding against such water right, or certificate of stock. I , Section 2. Each share of stock in this company shall entitle the holder thereof to draw from the waterways of the company an amount of water for irrigation or for other beneficial purposes in t~ same ratio as one (1) share of stock bears to the .., total number of shares of stock then issued and outstanding by the company, as 11 acre feet of water bears to the total number of acre feet of water then being carried for distribution by the waterways of the Company. Section 3. Certificates of stock shall be signed by the President and Secretary and each certificateshall express on its face the date of issue and the number of shares for which said certificate is issued, and the person or persons to whom the same is issued. Several certificates may be isued to the same person or persons, pro- vided that in the aggregate, the number of shares so issued, shall not exceed the number of shares so belonging to such person or persons. No fractional shares of stock shall be issued. Section 4. The Secretary shall keep a stock ledger and true account of all shares issued and received by the Company in accordance with the provisions of the Statutes of the State of Colorado. Section 5. Transfers. Transfers of stock to entitle a holder to vote nust be made and registered at leat ten (10) days prior to the time of any meeting, at which such vote is tendered, and all stock shall be transferred on the books of this company by assign- ment either in person or by attorney. . -5-