PROJ00288

• Contract/PO #: C153825
• Contractor Name: Farmers Pawnee Canal Company, The
• Contract Type: Loan
• Water District: 64
• County: Logan
• Bill Number: SPL
• Loan Projects - Doc Type: Feasibility Study

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BY LAWS OF THE FARMERS' PAWNEE CNIAL COMPANY

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Article I.

STOCK CERTIFICATES

Section 1. Stock Certificates

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All bha owners of capital stock shall be entitled to have issued to

their names and to have delivered to them certificates therefore duly

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signed by the President and Secretary and the Seal of the Corporation

affixed thereto.

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Section 2. Transfers

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Transfers of stock certificates shall be made only upon the books of

the Company by the stockholder in person or by his attorney appointed

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under a power duly executed and filed with the secretary of the company,

and no transfer shall be allowed until the old certificate has been

surrendered to the Secretary and by him canceled and a new certificate

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issued therefor, and all assessments levied on the stock must be paid in

full.

Section 3. Lost Certificates

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The Board of Directors may direct that a new certificate of stock be

issued in the place of any certificate theretofore issued by the company

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and alledged to have been lost or destroyed; and when authori~ing the

issuance of such new certificate the Board may, in its discretion, require

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the owner or holder of such lost or destroyed certificate, or his legal

representative, to give to the company a bond in ~~ehsum as the Board of

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Directors may require, as indemnity against any claim that may be made

against the Company on account of such lost or destroyed certificate.

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Section 4. Miscellaneous.

Any persod acquiring stock by purchase and transfer either at public

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or private sale shall be subject to all liabilities incurred and assumed
the
by the other stockholders and to all/provisions of these by-laws.

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Section 5. Water allocation, Use, and Changes of Type or Place of Use

Each holder of corporate stock in the Company shall be entitled to

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receive from the Company's canal water for irrigation purposes in the

following a~ount: the proportion of the total ;;atcr avail~ble to and

deliverable by the Company under the priorities of the company (or

t
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purchased or otherwise obtained by the Company) which each stockholder's

of stock
shares of stock bears to the total number of shares/issued and

outstanding. Any shareholder desiring to make any of the following

changes of use of any water to which he may be entitled as a result of

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ownership of shares of stock in the Company may do so only after obtaini~g