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<br />CJ <br />l.O <br />0} <br /> <br />!.....-) <br /> <br />o <br /> <br />(::1 <br /> <br />recorded in the office of the County Clerk and Recorder of Mesa <br /> <br />County, which records are hereby referred to for greater <br /> <br />certainty. <br /> <br />The water from said ditches and canals is to be used for <br /> <br />irrigation and domestic purposes, and for water power and for <br /> <br />mechanical purposes. <br /> <br />FOURTH. <br /> <br />The aggregate number of shares which the <br /> <br />A. <br /> <br />corporation shall be authorized to issue is 48,000 shares of <br /> <br />capital stock, each share having a par value of $5.00. <br /> <br />B. The shares of stock shall be divided into two <br /> <br />classes, Class A and Class B, such that each stockholder shall be <br /> <br />deemed to own one share of Class A stock. If a stockholder shall <br /> <br />hold more than one share of stock, all additional shares shall be <br /> <br />deemed Class B stock. <br /> <br />C. Notwithstanding the classification of shares <br /> <br />under this Article, the corporation shall not be required, nor <br /> <br />cause, the recall or reissuance of any stock certificates to <br /> <br />reflect the classification of stock, rather, such classification <br /> <br />shall be maintained solely on the corporation's books and records <br /> <br />for assessment purposes as hereinafter set forth. <br /> <br />D. Except as limited hereinafter, Classes A and <br /> <br />B stock of the corporation shall be assessable to pay the debts <br /> <br />and operating expenses of the corporation as follows: <br /> <br />(1) Class A Stock. <br /> <br />Class A s1:ock shall be <br /> <br />assessed pro rata at a rate which shall be based upon the <br /> <br />3 <br />