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<br />m <br />00 <br />;:--- <br />'--' <br />~ <br />_. <br />'..J <br /> <br />. <br /> <br />. <br /> <br />(b) The Grand Valley Irrigation Company,_ <br /> <br />The Grand Valley Irrigation Company is a mut:ual ditch company <br /> <br />which comes within the purview of the Ditch and Reservoir <br /> <br />Companies law. Sections 7-42-101 et seq., C.R.S.. Applicable law <br /> <br />vests such companies with the power of eminent domain to acquire <br /> <br />property and interests therein necessary for any lawful purpose <br /> <br />connected with operations of the company. Section 38-2-101, <br /> <br />C.R.S. Please refer to discussion appearing in Section 5(a) and <br /> <br />footnote 6, supra. <br /> <br />A mutual ditch company is recognized in Colorado as a <br /> <br />quasi-public carrier with the shares of stock representing the <br /> <br />water user's interest in the ditch and water rights of the <br /> <br />company. Jacobucci v District Court of Jefferson County, 189 <br /> <br />Colo. 380, 541 P.2d 667 (1975). <br /> <br />The corporation has the power to levy assessments on issued <br /> <br />capital stock in order to pay its expenses. Section 7-42-104, <br /> <br />C.R.S.; Nelson v Lake Canal Co. of Colo., 644 P.2d 55 (Colo. App. <br /> <br />1981). Moreover, a mutual ditch company may issue different <br /> <br />classes of stock and levy different assessments ~n each where the <br /> <br />apportionment of assessments between the classes bears a <br /> <br />reasonable relationship to the difference in the costs of <br /> <br />providing water to the holders of such classes of stock. Robinson <br /> <br />v Booth-Orchard Grove Ditch, 94 Colo. 515, 31 P.2d 487 (1934). <br /> <br />The Grand Valley Irrigation Company operates canals serving <br /> <br />more irrigated lands than any of the other Subject Canals, <br /> <br />although water rights decreed to its canals are less than those <br /> <br />-27- <br />