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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upon the captial stl~ct~ of the Company.

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Section 2u No such assessments shall be made unless the
question of making sIlch assessments shall ,be first submitted
to the stockholders of the Corporation at the annual meeting,
0)'" at <::\ spf2cial mt?etili~l call(.?d for t:hat purpos(.?, and 3C)~~ of
the stock of the Company issued is represented (pl'"esen't
either in person or by proxy) and they shall vote in favor of
making such assessmentsu

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Section 3. All assessments so made by the stockholders
shall designate in the resolution imposing such assessments,
the date of 'the payments of such assessments and each
installment thereof, or said resolution may provide that tIle
Directors may fix the time of the payment of siid assessments
or the installments thereof.

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Section 4. As soon as said assessments are loade and the
date of the payment, or payments, thereof is fixedv the
Secretary shall, as soon as pr~ctical thereafter, notify each
of the stockholders of the amownt of all assessmellts and
installments thereof and of th@ dates of the paY/Dent elf the
same or of the installments thereof, which said notic8 shall
be deposited in the United States mail, postage prepaid,
properly addressed to each of ~aid stockholders at the
address of such stockholder, a~ recorded upon the recclrds of
said Company.

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Section 5. In case any stockholder shall fail to pay the
asSeSSmF?llt dlt8 upon I-Ii::::. -:;.;tock, in ~'::I.cccl'(dancE':." witl'") such
notice, the amount due to the Company from tlim on account of
such assessment shall bear interest from the time the S2fj12
was required to be paid in accordance with the notice
aforesaid, at the rate set at the annual shareholders
meeting~ and -this inter'est shall be paid to the said Company
by the ~;aid shaf'f2holdey wh(~?n tl~lf2 assf~s!::;mf.:-nt is p,.'::\idy ()'(, in
the case a sale of the stock i0 made, shall be added to the
amount of tl{e '.::tS~;f~SSm~?n.t.

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Section 6~ If any assessmentp 01'" any pay''!:; thereofy or
the inteyest or penalties tl18ysony or any of the charges foy
headga'tes, or other ap~lliance5 foy the measurement or
diversion of watery against any stockholder, shall remain
unpaid for thirty days after S8me has become due as herein
provided, the holder of said stock shall nl~t be entitled to
any water from said ditch until the same and all interest and
chayges theyson are fully paid, aJld if the holdey or holders
of said stoct, ar's then receiving water~ the same may be
discontinued by the Company.

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Section 7~ In case the assessmenty OY any installment
th(=rf2o'f, S,O li::?vii::?rJ upon ctny shi:t'(e of st:ock~, i':!:. not p,::!id
within five months fyom the date whereon the sam~ is payablsy
as afc'resaid~ then tIle Secretary shall give nl~tice a secoJ1d

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