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<br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />, I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />il <br />I <br /> <br />A. <br /> <br />CHAPTER 11; TRINCHERA IRRIGATION COMPANY <br /> <br />History of Organization, The Trinchera Canal Company was organized in <br />1907 to irrigate 60,000 acres of land. At this time the construction of <br />Mountain Home Reservoir and the related canals were started. In 1911 the <br />company was out of operating funds and the Trinchera Irrigation District <br />was formed and issued $650,000 in bonds to be paid to the defunct <br />Trinchera Canal Company for all water rights and land, In 1944 the <br />company went into the hands of receivers and the present Trinchera <br />Irrigation Company was formed. <br /> <br />The Trinchera Irrigation Company was incorporated on February 4, 1944 as <br />a mutual irrigation company, not operated for profit. The articles of <br />incorporation were modlfled on March 11, 1946 whereby the company issued <br />a total of 12,500 shares of stock; and, 1) each share entitled the holder to <br />irrigate one acre of land; and, 2) only owners of land or users of water <br />within The Trinchera Irrigation District during the year 1943 were issued <br />stock, A copy of the articles of incorporation and amendments is included <br />in Appendix A of this report. <br /> <br />The Trinchera Irrigation Company has offices in BIanca, Colorado, It <br />operates two (2) storage reservoirs and approximately 26 mlles of canais <br />and 45 miles of laterals for delivering water to its shareholders, There <br />are 12,500 shares of stock authorized and there are 11,572 shares issued <br />to 43 shareholders. The remaining stock is held by the company, <br /> <br />B, <br /> <br />Laws Under Which Organized. Please refer to Appendix A, containing the <br />Articles of Incorporation and By-Laws of the Trinchera Irrigation Company. <br /> <br />C, <br /> <br />Powers and Authorities of the Organization, Trinchera Irrigation Company <br />has the following powers and authorities: <br /> <br />1. Trinchera Irrigation Company has the right of emihent domain. See <br />C.R.S, 1973 38-2-101. <br /> <br />2, Taxing or assessing authority: Trinchera Irrigation Company is not a <br />governmental body and does not have the power to impose real <br />estate taxes. There is the authority to make an assessment on <br />stock as is provided in C,R.S, 1973 7-42-104, <br /> <br />3. Authority to enter into contractual arrangements: General powers of <br />the corporation are set forth in Colorado Revised Statutes 1973 7- <br />22-101. See (e) which gives to power to transfer all or part of its <br />property; (h) which gives the right to make contracts and incur <br />liabilities and (q) to have and exercise all powers necessary or <br />convenient to effect any and all of the purposes for which the <br />corporation is organized. <br /> <br />4. Authority to vest title to the project or a portion thereof in the <br />Colorado Water Conservation Board: This authority would be under <br />the general powers previously referred to in Paragraph 3. <br /> <br />PAGE II-I <br />Chapter II - Ibmtain HaDe Reservoir <br />