The Idaho Republican. [volume] (Blackfoot, Idaho) 1904-1932, 1918-10-08

first to be preferred stock, which shall
entitle the holder thereof to the right
| to the delivery and use of water out
of said canal system. equivalent to one
cubic inch per second of time for each
two shares of stock now held by such
stock holder in the corporation, upon
| the condition and in the event that be-
| fore, the issuance Of, such preferred
convey, by sufficient deeds or con-
tracts of conveyance to said corpora
ton, water right in the Peoples
Canal & Irrigation Co., equal to one
for each two share Of stock surrender
ed and retired out Of the water appro-
priated by said Peoples Canal & Irri-
cation Co. about February 1894, and
the 9Th Judicial District Of the hest State fe
of Idaho about December 1910 in an
action commonly known as the Snake
River Water Suit.
to the present owners of stock in this
corporation. in lieu of their present
holdings, which stock shall entitl@ the
holders thereof to the right to have
the same amount Of water that their
present stock entities them to have
carried through said system, with the
further condition that in the event the
Peoples Canal & Irrigation Co. or
any other water right of equivalent
quantity and value, such common stock
may be surrendered and preferred
stock issued in lieu thereof
8. To amend the Articles Of Incor-
poration by changing the number Of
shares and the par value thereof, and
enumerated, and to, provide for the
relative rate Of assessment upon each
class Of stock In such manner and to
such extent as may be necessary and
changes herein enumerated
4. To amend or change the cor
porate name, particularly by eliminat-
Hg s the word II the title IL smny L na
shorten said corporate name.
5. To authorize and empower the
Board Of Directors. by the adoption of
una aey or ait n S
debtedness, and to borrow money for
such purposes in an amount not to
exceed 10000. and to execute to the
Wa N ofsas sy Ba oe Of s dpsn
or trust company, bank, or person, such
trusts, deeds, bonds or debentures Of
this corporation In order to secure said
loan, as may be deemed necessary ~;
.. To authorize the corporation to
receive. take over, hold, and own all
stockhoiders. out 81 and from the
rights so held by them in the said
Peoples Canal & Irrigation Co., and to
issue to its stockholders, in considera-
ton, therefore, preferred stock in this
corporation, which stock shall carry
with 1t the rights and interests speci-
fed in paragraph / hereof, as full con
sideratfon for the transfer to 1t Of
said water rights and to hereafter
receive a conveyance OF like amount
Of water from any and all of its stock
holders. holding common stock. and to
Z. 10 authorize and empower the
to take all action NECESSARY or proper
same in this corporation to, thu. right
water rights. and to take all proceed
ings required and found necessary or
convenient 70 convey to and vest IN
feet title to all water rights now owned
corporation, and to convey the same
mortgage or trust deed, as security for
the loan herin proposed, the proceeds
Of the same to be applied to refund
ing the corporate indebtedness, In SO
far as may be done, In the form OF
time, Understanding. obligations, and
provide for the creation of q sinking
FUND. to meet the interest and princi-
pal Of such Indebtedness, as 1t natures.
we, the undersigned, respectively
President and Secretary OF the High