C153755 Feasibility Study

• Contract/PO #: C153755
• Contractor Name: Sanchez Ditch and Reservoir Company
• Contract Type: Loan
• Water District: 24
• County: Costilla
• Bill Number: SB 92-87
• Loan Projects - Doc Type: Feasibility Study

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Article X. Section 1

Section 1. Euch share of stock of this corporation, while no
essessment is delinquent and unpaid thereon, ~ntitles its
holder of record on the books of the corporation, to the use'
each year of a pro rata share of all water curried in and
distributed from the waterways of said corporation, except
for that carried for distribution of water rights owned by
others, under the direction of the Board of Director,?, and
pursuant to lawful and rea$onable rules by said board made
for the economical, efficient and equitable delivery and
division thereof. No stockholder may request that water to
which the stockholder is entitled in any given year be
carried over or accumulated for delivery during the following
year. Any and all water to which a stockholder is entitled
under the terms of these bylaws which is not delivered to or
used by that stockholder in any given year, shall ::evert to
the common ownership of the Company, to be distrfbuted among
all shareholders on a pro rata basis, as provided and limited
by the hylaws, during the fallowing year.

Article X

Section 9. The Board of Directors in the Company shall have
the right to take actions which are reasonably necessary fat
the use of its property and ditches, and the right to access
on the lands of its stockholders upon which its property and
ditches are located for the purposes of maintenance and
making repairs which are necessary, as provided by Colorado
law. In the event that the Company desires access on a piece
of property beyond tha t wh ich is prov ided for by Co 10 rado
law, it shall contact the property owner with a request for
such access. In the event that the property owner consents
to such access, the Company shall pay for any losses or
damages caused by the repairs or maintenance, in an amount to
be agreed upon in advance by the Company and the landowner.
In the event t~at a stockholder interferes with the Company' 5
easements or rights of access as provided by Colorado law, or
refuses to allow such access, the stockholder shall be
responsible for any and ull damages resulting therefrom,
including reasonable attorney fees and costs. Whenever
possible and economica lly feasible, the Company sha 11
exercise due caution as it maintains and repairs its property
so that a stockholder's property will be interfered
with only to the extent that such interference is necessary.

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