Semi-weekly herald., 1912-10-17


pany, representing one hundred and
thirty-four (134) feet of a filing for
one hundred and fifty (150) cubic
feet of water per second of time in
said river to construct reservoir
and laterals, and enlarge the Florida
Canal to a carrying capacity Of two
hundred and fifty (250) cubic feet
of water per second of time, and con-
vey the same as a completed system
capable Of irrigating twenty-five thou
sand (25,000) acres of land to said
party of the first part, in considera-
ton for which said The Pioneer Con-
struction Company was to receive
81 ,O6O,0OO par value of the bonds of
said party of the first part, and
WHEREAS, on the 10th day of
April, 1911, further contract in
writing was entered into between
said party of the first part and said
The Pioneer Construction Company,
which was on the 5th day of May,
1911, ratified by a majority vote of
the qualified electors of the said party
of the first party, whereby the afore-
said contract Of July 2, 1910, was
modified and changed by providing
for the elimination of the reservoir
from the proposed system, the reduc-
ton of the proposed enlargement of
said Florida Canal from carrying
capacity of two hundred and fifty
(250) cubic feet of water per second
of time to two hundred and five (2O5)
feet, and corresponding reduction
in the proposed laterals for said sys-
TEN, and that the consideration for
said system as so modified and
changed should be $4,000 par value
of the bonds of said party of the
first part, the balance of $500, 900 par
value of such bonds originally autho-
rized to be cancelled and retired, and
WHEREAS, pursuant to the terms
of said contract of July End, 1910, as
SO ratified, and on the 1st day OF
August, 1910, the bonds of said party
of the first part in an aggregate of
81 100000 par value were duly is
sued and thereafter deposited in es-
crow with the Colonial Trust 4 Saw
ings Bank, of Chicago, Illinois, as
trustee, under the terms of GER
tain further agreement in writing be-
tween said party of the first part and
said The Pioneer Construction Com
pany, bearing date the 18th day of
August, 1910, pursuant to the terms
of which and of said contract Of July
IL, 1910, as modified and changed by
the said contract of April 10, 1911.
bonds of the said party of the first
part in the aggregate of S403,80O par
value have been delivered to said The
Pioneer Construction Company and
are now outstanding constituting q
claim against said party of the first
part in favor of the holders thereof
and lien upon all the lands ada
cent to or situate within the bound
aries of said party of the first part
and therein included, and
WHEREAS, the directors of sait
party of the first part in the exer
else of the authority conferred upor
them by law have from time to timt
issued the warrants of said party o.
the first part in payment of its obi
cations, which said warrants in al
aggregate of approximately $11, ,S54.5'
par value are unpaid and outstanding
and constitute claims against sale
party of the first part in favor o
the holders thereof, and
WHEREAS, on the 10th day of No
vember, 1911, the County Commits
sioners of La Plata County levied
tax for the purposes of the said part.
of the first part for the year 1911, a
the rate of one hundred and forty
five Q45) mills on the dollar of tn
assessed valuation of the lands ada
cent to OF situate within the bound
aries of the said party of the frs
part and therein included, which sal
tax, except in so far as the sam
has been paid, constitutes CLAIM
against and lien upon said lands, an
every part and parcel thereof, and
| WHEREAS, in proceeding in tn
District Court for La Plata Count.
in the nature of Quo Warranto insti
tuted to test the title to office of tn
directors of said party of the frs
part, a judgment was duly made an
entered on the 9TH day Of July, 1915
in which it was, among other things
decreed that said party of the frs
part has no valid legal existence, an
Il WHEREAS, on application to tn
Supreme Court of the State of Colo
RADIO in said proceeding writ of su
persedeas was granted on the 12tl
day of September, 1912, whereby tn
aforesaid judgment is in all respect
stayed pending the final decision o
: the Supreme Court thereon, and
| WHEREAS, said The Pioneer Con
struction Company pursuant to tn
terms of the aforesaid contract o
July 2, 1910, as modified and change,
by said contract of April 10, 1911
has caused to be delivered to sal
party of the first part certificates 70
two hundred and five (205) shares o