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<br />" trust, plsdge or otherwise, to, acquire. hold. and dispose' of stock in other cor~,
<br />"(, ,porations. domestic' 'or toreignl to purchase or acquire land by foreclosure or, ,
<br />"',,,',;-otherwis8 and to hold, own, sell, transferor convey'such land. any such sale, :'
<br />~,,":,,", transfer or conveyance to be upon such terms and conditions aSInay be fixed by',
<br />::,:",,;,;-,:,".;,,' the Board ot Directors of this Associati'onl to have and exercise all the 'pOW8:L"S '
<br />':;''<:;'''' and to perform any and all acts necessary or appro,priate tor the accomplishment
<br />,":<;\:",',~,ot, any one or more of the said purposes or anything incident thereto. '
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<br />':': ',' ' Section 2. This ,Associ tion shall have the power to enter into any contract ,"
<br />,Y',"or other arrangement with the proper repres,entative 01' the United States. individ-'
<br />.. .., ual, association 01' individuals or corporation. tor the accomplishment otany' , :.
<br />. ';-', ' ",' 01', the atoresaid purposes, by means 01' the construction, acquisition or control
<br />,,'" 01' appropriate works or structures, or in any other manner whatsoever.
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<br />i', ' Section 3. It shall have the power to enter into any agreement with the'
<br />"proper representative 01' the United States with reterence to the collection and
<br />payment 01' any and all charges made Under the federal statutes for the works
<br />providing water tor the lands 01' its shareholders.
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<br />Section 4~ It shall have the power to comply with the provisions of any
<br />federal statutes applicable to the work done by the United States in connection
<br />with such system of water supply, and any rules and regulationc ectablishedthere-
<br />.. under.
<br />Section 5. The territory within which the lands to be irrigated as afore-
<br />said are situated, to be known 8S the Grand Valley Irrigation district, includes
<br />all lands within the boundaries described as tOllows, to-witl "
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<br />,) The portion 01' ,Grand Valley lying between the east boundary line of Range
<br />98 west 6th Principal Meridian, and the west boundary line of Range 104 west 6th
<br />: PrinCipal Meridain irrigable by diversion of water trom the Grand River in Colorado.
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<br />ARTICLE V.
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<br />, Section 1. The capital stock of the Association shSll be Seventy-five
<br />','Thousand Dollars ($75,000), divided into seventy-five thOusand (75,000) shares,
<br />,;rOf the par value of ,One Dollar ($1.00) each. Said stock shall be assessable and
<br />, ", ",:' assessments thereon for all purposes shall be ,made by the Board 01' Directors Of'
<br />::': :',"thiB Association. '
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<br />,'" Section 2. Only those who, are owners of lands, or occupants of public lands'"
<br />:, having ,im tiated a right to acquire the, same, wi thin the area described in Article'
<br />",:rv or wi thin such eXtensions thereof as msY',be duly made, shall be qualified to
<br />:""own the shares 01' this Association. ,Not more than one share shall be allotted'
<br />tor each acre of land. but tractional,shares may be issued on fractions of acres.
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<br />" Sections 3,,4. and 5, :Art1cle,V. "arsl!lll1itted.,
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<br />" . ,Section 6., Ths ownership of sach share of stock of this Association shall
<br />,', , , carry, ,as incident hereto, a right to have water deli veredto the owner thereof
<br />",,':"::'\:by the Association tor ,the1rrigationof the lands to which such share lsap"'-o,:' "
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