PROJ00180

• Contract/PO #: C153639L
• Contractor Name: New Cache La Poudre Irrigating Company
• Contract Type: Loan
• Water District: 3
• County: Larimer
• Bill Number: HB 93-1273
• Loan Projects - Doc Type: Feasibility Study

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Chapter II - The New Cache La Poudre Irrigating Company

A.

Historv of Organization. The New Cache La Poudre Irrigating Company was
incorporated on February 21, 1898. The company is a mutual ditch and reservoir
company under the laws of the State of Colorado. The provisions relating to the ditch
and reservoir companies in particular begin in C.R.S. 7-4-102, 7-40-104 and 7-42-101
to 7-42-117.

The New Cache La Poudre Irrigating Company has an office in Lucerne, Colorado. It
operates approximately 20 miles of main ditch and has 114 delivery headgates. There
are 2500 shares of stock authorized and issued to 225 users.

The sister company to the New Cache La Poudre Irrigating Company is the New Cache
La Poudre Reservoir Company which has one reservoir called the Timnath Reservoir.
The Reservoir Company is operated as a separate company, but shareholders in the
Irrigating Company can also hold shares in the Reservoir Company. Water from
Timnath Reservoir is delivered to the canal downstream of the main Poudre River
diversion structure for use by shareholders along the canal.

B.

Laws Under Which Organized. Refer to Appendix B containing Articles ofIncorporation
and By-Laws of the Cache La Poudre Irrigating Company.

C.

Powers and Authorities of the Organization. The New Cache La Poudre Irrigating
Company has the following powers and authorities:

1. The Company has the right for eminent domain. See C.R.S. 1973 38-2-101.

2. Taxing or assessing authority: The company is not a governmental body and does
not have the power to impose real estate taxes. It does have the authority to
make assessments on stock as is a provided in C.R.S. 1973 7-42-104.

3. Authority to enter into contractual arrangements: General powers of the
corporation are set forth in C.R.S. 19737-22-101. See (e) which gives the power
to transfer all or part of its property; (h) which gives the right to make contracts
and incur liabilities; and (q) to have and exercise all powers necessary or
convenient to effect any and all of the purposes for which the corporation is
organized.

4. Authority to vest title to the project or a portion thereof in the Colorado Water
Conservation Board: This authority would be under the general powers
previously referred to in paragraph 3.

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