C153835A Feasibility Study

• Contract/PO #: C153835A
• Contractor Name: Greeley and Loveland Irrigation Company
• Contract Type: Loan
• Water District: 3
• County: Weld
• Bill Number: HB 98-1189
• Loan Projects - Doc Type: Feasibility Study

~

Lake, Westerdoll Lake, Heinricy Lake, and Upper and Lower Hoffinan Lakes. The interchange

facilities ofthe system to exchange water between the two companies has been developed over the

years to afford greater use of the water.

The Company is a corporation fonned " to purchase, acquire, own, operate, use, control,
manage, superintend and maintain canals and ditches for i"igating and domestic purposes, to
which use the water is intended to be applied; and more especially to purchase, acquire, own, use,
operate, control, mange, superintend and maintain that certain canal and its appropriations
heretofore constnJcted and owned by the New Loveland and Greeley I"igation and Lond Company,
the water privileges to which are derived from the Big Thompson River, with head gate located in
the Northwest quarter of the Southeast quarter of Section 15, Township 5, North of Range 69 West,
in Larimer County, Colorado, as constnJcted by The New Loveland and Greeley I"igation and Lond
Company. Also to acquire, hold use, own and enjoy all the priorities of appropriations, property
and water rights, privileges, franchises and right-of-way formerly owned, possessed and enjoyed by
the said The New Loveland and Greeley Irrigation and Land Company; to divert from said river and
run through said canal and deliver to its consumers and appropriated water entitled to be drawn
through the same; also to carry and deliver other water for i"igation lawfully entitled to be drawn
through said canal, upon such terms and at such times as shall be fixed by its Board of Directors. "
(By-Laws/Articles of Incorporation, Article Il). Appendix C includes a copy of the By-Laws/Articles
ofIncorporation adopted by the Company on October 2, 1984.

The powers and authorities of the Company as exercised by the Board of Directors are listed
in Appendix C under Article X and specifically include that "The Board of Directors shall have the
power to make such prudential by-laws as they shall deem proper for the management of the affairs
of the Corporation, not inconsistent with the laws of the State. " and under item D, of Section 7.
Powers of the Board of the Company's By-Laws the Company has "express power and outhority
hereby confe"ed upon the Board from time to time to bo"ow money on the credit and responsibility
of the corporation in such sums as they nury deem necessary or proper for the purposes and interests
of the corporation in such form and for such time as they may deem proper, and to pledge or

4

'..1:'
, )1

I
I
I
I
I
I
I
I
I
I
I
I
I
J
"
I
I
I
I