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Show ONE HUNDRED YEARS OF WATER DEVELOPMENT 77 Salt Lake City is given a specific right to 135 second feet of capacity in the enlarged canal. This will enable the District to bring irrigation water into Salt Lake Valley without pumping and without using aqueduct capacity. COSTS, FINANCING AND PROJECT ADMINISTRATION The Provo River Water Users Association We have already related the fact that the Government required as a condition to the construction of the Provo River Project that there be created one contracting entity directly responsible to the United States for the repayment of costs, and that in order to satisfy that requirement, as to the Deer Creek Division, the Provo River Water Users Association was organized during the year 1935. Capital Stock The capital stock of this water users association is divided into 110,000 shares of no par value. 110,000 shares was agreed upon because at the time of organization it was expected that the annual reservoir yield would be 110,000 acre feet, but since then the estimate concerning annual yield has been revised to 100,000 acre feet and, since each share of stock was intended to entitle the shareholder to one acre foot of the estimated annual supply, it has been agreed that, unless the water supply is increased, no more than a total of 100,000 shares of capital stock will be disposed of. Corporate Powers The general powers of the Association are stated in its Articles as follows: " This corporation is organized for the purpose of purchasing, condemning, leasing or otherwise acquiring, for the purpose of selling, 96. Westward view of the Provo Reservoir Canal. This canal, extending 23 miles from Provo Canyon to the Jordan Narroivs, is to be enlarged from its present capacity of approximately 210 cubic feet per second to 550 cubic feet per second. Hampton C. Codbe |