Semi-weekly herald., 1912-10-03

River, and thirteen hundred and forty
! (1340) shares of the capital stock OF
The Florida Canal Enlargement Com
| pany, representing one hundred anc
thirty-four Q34) feet Of filing fol
one hundred and fifty (150) cubic
feet of water per second of time II
] said river, to construct reservoir
and laterals, and enlarge the Florida
Canal to carrying capacity of two
hundred and fifty (25O) cubic feet
of water per second of time, and con-
vey the same as completed system
capable of irrigating twenty-five thou
sand (25,000) acres of land to said
party Of the first part, in considera-
tion for which said The Pioneer Con-
struction Company was to receive
81 100000 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 9th 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 E
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 a corresponding reduction
in the proposed laterals for said sys-
said system as so modified and
changed should be $540000 par value
of the bonds of said party of the
first part, the balance Of $520,000 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 & Saw
ings Bank, of Chicago, Illinois, as
trustee, under the terms of a cer-
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
2, 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 $403,S00 par
value have been delivered to said The
Pioneer Construction Company and
are now outstanding constituting a
claim against said party of the first
Part in favor of the holders thereof,
and lien upon all the lands adja-
cent to or situate within the bound
aries of said party of the first part,
and therein included, and
WHEREAS, the directors of said
party of the first part in the exer-
else of the authority conferred upon
them by law have from time to time
issued the warrants of said party of
the first part in payment of its obi
cations, which said warrants in an
aggregate of approximately S11 ,S54 so
par value are unpaid and outstanding
and constitute claims against said
party of the first part in favor of
the holders thereof, and
WHEREAS, on the 10th day of No
vember, 1911, the County Commits
sioners of La Plata County levied a
tax for the purposes of the said party
of the first part for the year 1911, at
the rate of one hundred and forty
five Q45) mills on the dollar of the
assessed valuation of the lands adja-
cent to or situate within the bound
aries of the said party of the first
part and therein included, which said
tax, except in so far as the same
has been paid, constitutes a claim
against and lien upon said lands, and
every part and parcel thereof, and
WHEREAS, in proceeding in the
District Court for La Plata County
in the nature of Quo Warranto insti-
tuted to test the title to office of the
directors of said party of the first
part, a judgment was duly made and
entered on the 5th day of July, 1912,
in which it was, among other things,
decreed that said party of the first
part has no valid legal existence, and
WHEREAS, on application to the
Supreme Court of the State of Colo
RADIO in said proceeding writ of su-
persedeas was granted on the 18th
day of September, 1912, whereby the
aforesaid judgment is in all respects
stayed pending the final decision of
the Supreme Court thereon, and
WHEREAS, said The Pioneer Con-
struction Company pursuant to the
terms of the aforesaid contract of
July 2, 1910, as modified and changed
by said contract nf AnriI IN 1911