PROJ00528

• Contract/PO #: C150019
• Contractor Name: Pine River Canal Company
• Contract Type: Loan
• Water District: 31
• County: La Plata
• Bill Number: SB 99-173
• Loan Projects - Doc Type: Feasibility Study

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THE PINE RIVER CANAL COMPANY

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REVISED BY-LAWS, RULES AND REGULATIONS
As ratified at the FeD.8,1994 Annual Meeting

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,;F:T I CL.E I
Name and Obj(~cts;

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Se,:t: ion 1 ~ Tl"1e n.:ime of this Com'3pny shall be "THE~ F'II'~E
RIVER CANAL COMPANY" as stated in the Articles of
Incoypoyati,:.n.
Gect ion ;,:..
as ~-:;et fo'(th in
otheY"wise..

The objects of this corporation shall
the Articles of Incorpoyation, and nl~t

bEl

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ARTICLE II
Ci.:\p i tal Stoc k

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Sect ion 1" The Cc:\pt :Lal St;oc k l:.f thE' Pine I?i Vf.;.)'. Canal
Company sllall give tIle owneY of said stock the right to use
the pro-rata share of decreed water owned by ttle Company.. It
shall not give legal title to tile water" It shall also give
caYyiage rights for the storage watey owned by the same
shareholder predicated on the numbey of shayes of Capital
Stock owned by the shareholder or percent thereof, depending
on water availability. As to incremental amount5~ a separate
carriage contract is required. Delivery of said storage
water shall coincide with and be limited to the irrigating
season as determined each year by the Board of Directors~
Decreed and storage water will be delivered to the
shaj~eholder's lateral on availability basis. Emergencies or
canal damage could limit the availibility of water.

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Section~. The Capital Stock of our said Company shall
be Seventy thousand Dollars ($70,000.00) divided into
fc,urteen thousand (14,000) shares of the par value of $5.00
(:?<'1C h, and ~:;:,ai d st oc k shall be full pa i d and assl.:?s!:;ab l~? f cnr
the purposes stated in t~le Articles of Incorporation and
t h (.;?~3e By~-LaJ,'Js.

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Section 3. Certificates of stock shall be issued
under the seal of the Company and be signed by the President
and Secretary of the Company.
No transfer of stock shall be allowed except upon tIle
return and cancell~tion of the old certificate, and the
Secretary shall l1Bve the old certificate cancelled before
signing a new one; PROVIDED, that no certificate of stoel,
~hall be transferrable while the assignor of such stock shall
be indebted to the Company by reason of any assessment~
penalty or interest against said stock, or by reason of the
construction of a headgate, or other appliance for the
fneasuremellt or diversiorl of water, fay the use and berlefit of
sl,Jch s~lar8holdel~.

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