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<br />9 <br /> <br />divide between Chambers Lake and the Laramie River, said ditch having a <br />heavy grade toward said outlet, and by means of dams where said ditch crosses <br />said several streams to divert and convey the water of said several streams <br />into and along said ditch to and through said outlet into Chambers Lake; to <br />store the same from time to time therein when desired, and from thence through <br />the natural channel of the Cache la Poudre River to the headgate of the Larimer <br />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 <br />Chambers Lake. <br /> <br />"FIFTH - The said ditches, above described, are designed to be constructed of <br />suffici'ent capacity to convey all the waters of the said Grand, Michigan and <br />Laramie Rivers at the several points of diversion. <br /> <br />"SIXTH - 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 <br />Larimer and Weld, under the di tch of the Larimer County Di tch Company, <br /> <br />"SEVENTH - The amount of capital stock of said company shall be sixty thousand <br />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 <br />and bodies only, and their successors in interest, who have acquired, or are <br />entitled to water rights from the Larimer County Ditch Company for irrigation <br />purposes. Such subscribers shall be entitled to take stock in this company <br />upon the ratio of one share of stock herein to one water right in the Larimer <br />County Ditch Company, as heretofore defined by said company. <br /> <br />"EIGHTH - That the term of existence of said Company shall be twenty years. <br /> <br />"~ ~ The affairs and management of said corporation is to be under the <br />control of a board of seven directors. I. W. Bennett, Edward H. Hall, John <br />Hayden, Alexander Mean, F. C. Avery, A. A. Edwards and Asaph E. Mead are <br />hereby selected to act as said Board of Directors, and to manage the affairs <br />of said corporation for the first year of its existence, and until their <br />succeSsors are duly elected by the stockholders, and duly enter upon the dis- <br />charge of their duties. <br /> <br />"TENTH - The operations of said corporation will be carried on in the counties <br />of Larimer, Grand and Weld, in the State of Colorado, and the principal place <br />of business and office of said corporation shall be located in the city of <br />,Fort Collins, in the County of Larimer, and State of Colorado. <br /> <br />"ELEVENTH - The Board of Di rectors shall have power to make such prudential <br />by-l aws as they may deem p roper for the management of the affa i rs of sa i d <br />corporation, not inconsistent with the laws of the State of Colorado, for the <br />purpose of carrying on all kinds of business within the objects and purposes <br />of said company. Said by-laws, among other things, shal) provide that the <br />water which is supplied and diverted by means of the enterprise of this <br />company into the Larimer County Ditch, or into any of the reservoirs of this <br />company, shall only be delivered to and distributed among stockholders in <br />this company who shall then own and control water rights in the Larimer <br />County Ditch Company." <br />