C153623 Feasibility Study

• Contract/PO #: C153623
• Contractor Name: Sanchez Ditch and Reservoir Company
• Contract Type: Loan
• Water District: 24
• County: Costilla
• Bill Number: SB 92-87
• Loan Projects - Doc Type: Feasibility Study

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A new certificate or certificates shall be delivered to
the purchaser, and the certifiCate of the delinquent.
stockholder shall be cancelled on the books of the
company" [f the outstanding certificate or certificates
of stock of the delinquent stockholders so forfeited or
sold be not surrended, the secretary shall mark on the
stub thereof, "Cancelled," reciting thereon the fact of
such forfeiture and sale, and the issuance and number
or numbers of such new certificale or certificates.
The above will apply when an account h88 been
delinquent for a period of eighteen (18) months.

ARTICLE X

Use of Water

Section 1. Each share of stock of this corporation,
while no assesament is delinquent and unpaid thereon,
entitles its holder, of record on the books of the
oorporation, to the use each year of a pro 'rata share of
all water carried in and distribuMd from the water waY8
of said corporation, except for that carried for
distribution of water rights owned by others, under the
direction of the Board of Directors, and pursuant to
lawful and reasona ble rules by said board made for the
economical, ~fficient and equitable delivery and
division thereof. '
Section 2" The Board of Directors shall have
, authority to invoke penalties upon any waleI' user who
shall fail or refuse to abide by the ruling of the Board of
Directors in regard to the changing or altering of any
headgate of the Company or in any' other way
interfering with or obal.nlcting the works of the canal
system and any water user who shall wilfully or
maliciously change, alter, or otherwise interfere with
the headgates, or other works oftheeanalsyslem, shall
have his water shut off for a period of not more than ten
daye for the first offense, and not more than thirty days
for the second offense"
Section 3. The Board of Directors shall refuse the
right of transfer on any stock on which the assessment
is paid after such dale as is Bet by the Board of
Directors"
Section 4" The Board of Directors shall have the
, authority to refuse transfer of water to such oullying
places that would show excessive water I08S to the
system"

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Section 5. The Board of Directors shall have water
measured at a point immediately adjoining the land to
which WaleI' is delivered" [f it should be impossible to
make such. measurement at such point, then ,an
'adjustment on delivery shall be made to compensate for
any additional loss. , "
(a) The Board of Directors shall have the authority to
refuse a change in point of delivery from the original
point of delivery if such delivery shall cause waleI' loss.
SectiDn 6. The' Board Df Directors shall distribute
water which flows prior to and after the nDrmal
irrigating Beason to the stockholders according tD stock
held at a charge for the delivery of such' water, to be
fixed by the Board of Directors, proVided the Board Df
Directors shall delermine that INch delivery will not
impair the water supply of the cDmpany.
Section 7. The Board of Directors shall have the right
to perform maintenance 'or construction. deemed
necessary by said Board of Dlrectors upon the works of
the 'system owned by the Company, Said Board shall
have the right to shut down ,or withhold deliveries of
water in order to penonn maintenance' or complete
construction deemed necessary, provided, however,
that said Board shall be required to avoid,withholding
Df deliveries of water at' critical times' and the
withholding of delivery 'shall be for a'reason'able time
Dnly.
Section 8" The Board of Directors shall haVe th'eright
to enter into oontracts with individual stockholders of
the company to allow')laidstockholders to, transport
water from their pump wells through the ditches and
canals of the company upon euch terms and conditions
as are most advantageous to the company" The cost of
transportation shall be set by the Board of Directors.

ART[CLE XI

Assessments of Stock

Section 1. All stock of this company which has been
iesued and is outstanding is suhject to an assessment
for the purpose of obtaining money to keep the property
of the company in good repair and for the payment of
any claim againet the company not otherwise provided
for, and for the purpoBeof obtaining money to pay the
necessary expenses of'mainlenance ,and operating
canals or ditches belonging to thisoompany. All such

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