OCR Text |
Show -5- Whereas, said Mexican Company in consideration of the covenants and agreements entered into between it and the Company, party of the first part herein, has assigned and transferred to the Company its right to sell the stock of said Water Company; and Whereas, the Company under said contracts between said Mexican Company and said Water Company and between said Mexican Company and the Company, party of the first part herein, is entitled to receive and retain to its own use the sum of eight & 75/100 ($8.75) Dollars received from the sale of the stock of said Water Company; and Whereas, a large amount of the stock of the said Water Company has already been sold, partly for cash and partly on time, and the Company has received a large amount of money from the sale of said stock, and has also received obligations upon the part of the purchasers of said stock to pay the balance of the purchase price for the same, and Whereas, the Company has agreed to deliver to the purchasers of the first fifty thousand (50,000) shares of the stock of the said Water Company, one hundred and fifty thousand ($150,000) Dollars of the bonds hereinafter referred to, and being the entire issue of said bonds which are payable in ten (10) years from date; and Whereas the Company has agreed with said purchasers of said stock that it will accept said bonds, so agreed to be delivered to them, in payment of the last deferred payments, upon their contracts for the purchase of said stock, namely, the payment falling due in eight, nine and ten years respectively; and |
Source |
Original book: [State of Arizona, complainant v. State of California, Palo Verde Irrigation District, Coachella Valley County Water District, Metropolitan Water District of Southern California, City of Los Angeles, California, City of San Diego, California, and County of San Diego, California, defendants, United States of America, State of Nevada, State of New Mexico, State of Utah, interveners] : California exhibits. |