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<br />the interests of its stookholder,s. And, with referenoe
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<br />to said oapital stook the following provisions are hereby
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<br />!ipeof:t'ioally imposed upon the issuanoe, sale or disposition
<br />thereof ..
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<br />Section 1. The Board of Directors, shall'be
<br />and ars hereby ,authorized, as a part and portion of the
<br />oonsideration for the conveyance by The Trinchera
<br />Irrigation Distriot of all of its irrigation syst,em,
<br />as hereinbefore and in Artiole II speoified, to
<br />is'sue and to deliver to said The Trinohera Irrigation
<br />, Distriot or to suoh persons, firms or oorporations
<br />as said District may in writing speoify, a certificate
<br />or certifioates,of stook for a number of the shares
<br />thsreof whioh shall equal the total number of acres
<br />upon which all Distriot assessments, for maintenance
<br />and operation, shall have been paid for the years
<br />1941, 1942 and 1943; Provided: That no stock 'ehall
<br />be iseued to the owner of any lands for the irrigation
<br />of such lands Which, by reaeon of the nature of the
<br />soil or the presence of seepage is not susceptible to
<br />practioal irrigation. Before the issuanoe of suoh
<br />,..,oertifioatee, and as a oondition preoedent thereto,
<br />, '.. the'''Biiilxd'of Dfreotors of the Oompany"shall require all
<br />land owners who claim to be entitled to reoeive said
<br />,'stock to submi t to ,the board,' for i te inspection and
<br />registration, abstracts of title,to their lands, or
<br />deeds thereto, or contraots of purohase thereof, or
<br />suoh other evidenoes of ownerShip as'the Board may
<br />require. Oopies of deeds or ,other instrum~nts of
<br />convsyance to suoh land owners, duly oertified by
<br />the Oounty Olerk and Recorder of Costilla County
<br />may, be accepted by the Board under the term "other
<br />evidenoe of ownership'-" '
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<br />Seotion 2. Each share of the, canital etook
<br />of this Company shall entitle the holder thereof to
<br />reoeive water for the irrigation of one aore of land.
<br />In the event, during any year or years, there shall
<br />be insuffioient water for the irrigation of all of
<br />the land eerved by the Company to the extent of its
<br />full needs, then eaoh share of stook shall entitle
<br />the owner thereof to the pro rata of share of water
<br />available to, the entire aoreage, for the purpose of
<br />, ','1rrigatingone:',aore, of land.
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<br />Section 3. None of eaid oapital stook shall
<br />be issued or sold to any other persons, firms or
<br />oorporations other than those who shall have been
<br />owners of land and users of water within the bounder-
<br />ies of The Trinohera Irrigation Distriot during the
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