The Ordway new era., 1913-06-27

bear per interest," payable annually the principal Of
the bonds payable in eighteen equal annual payments the
falling years the last twenty years after
the date of said bonds with the privilege reserved to each
water right holder off proportona the bonds at any
interest paying date and receive release of his water rights
from the deed Of trust securing such bond ISSUE said bonds
when issued be turned the OF the
Lake Meredith Reservoir Company stock, rata the
purchase price for said with all its rights
leges and franchises.
Upon conveyance being made to The Twin Lakes
Reservoir Company of the Bob Creek Canal and the 1873
rights said canal hereinabove FORTH said Twin
Lakes Reservoir Company shall issue to be issued
its bonds in the of $4,000, and incident to the
carrying of the proposition herein and the
already incurred in bringing about the settlement
hereof, additional bonds in the of $4,000, making
total bonded Indebtedness of $48ooo said bonds to bear
per interest payable annually the principal of the
bonds payable in eighteen equal annual payments the first
falling due three and the last twenty years after the
date of said bonds with the privilege reserved each water
right holder to off proporonate bonds at interest
paying date and receive release of his rights from
the deed Of trust securing such bond ISSUE the bond issue
being the of $500 per the rights in
The Twin Lakes Reservoir Company; said bonds when
issued $4eoooo thereof to be turned The Twin
Lakes Land and Water Company in full payment of the
purchase price for said Bob Creek Canal and said 33
rights therein, together with the purchase price of the
aooo shares of the capital stock of said Twin Lakes Rese
voir Company the balance of said bond issue, towit:
S8oo be sold and proceeds turned into the treasury OF
said Twin Lakes Reservoir Company for the purposes
above stated
lad been had the meeting of the farmers held Odway
May soth Mr. Roberts, behalf of the Water Company,
concured in the of the proposition and assured
right holders that the Water Company and the
of the proposition ready to cooperate with
farmers carry the plan of reorganization proposed
and also stated that Mr. Carey Of the Sugar Company had
given him his of his willingness
said reorganization also others the meeting likewise said
that similar had been given them by Mr. Carey
In this statement have merely given the general
plan while be observed the matter OF detail of
ing the proposition will be subject modification and
change best subserve the interests of the parties there
to, and as legal requirements may make necessary
Under the reorganization, above stated The Twin
Lakes Reservoir Company will be the holding and
will the canal and Twin Lakes Reservoir and each
and every water right holder will equal shares of water
the lands which said water rights attach and the
distribution of water under the entire system will be uni
FORM
The cost of operation and maintenance the river
rights will remain at cents per by said
deeds provided while the further cost of operation
maintenance will be paid by The Twin Lakes Reservoir
Company by pro rata the stock of the Com
Pany.
Lake Meredith and Lake Henry Reservoir Companies
will pay annually to The Twin Lakes Reservoir Company
the actual cost of operation and maintenance of the canal
for such time being therein for their respec
uses while the stored in Lake Meredith and Lake
Henry will be distributed to the respective of the
lands which said water rights attach heretofore has
The Executive Committee of The Bob Creek Farmers
Protective Association appointed by action of the
stockholders take and receive the proxies of the various
stockholders the purpose of carrying the above
proposition and this statement is issued for the purpose of
setting forth the plan of taking the canal and reservoir
SYSTEM and desire say that feel that in carrying
out proposition all of the interests of the right
holders under the canal will be unified and the distribution
of water will be uniform This will make The Twin Lakes
Water System of the best in the State and present
this statement the right holders pedgng them
our untrng efforts in carrying out the proposition
above presented and ask of the water right holders their
hearty cooperation
Respectfully submitted,
VIM BROADBENT,
D. K. WAUGH, =