OCR Text |
Show 6. copy of deed marked Exhibit "C-Z the consideration for the sale and conveyance of said property being that the Palo Verde Mutual Water Company build and maintain a levee system to protect the Palo Verde Valley from the flood waters of the Colorado River and also grant to the Palo Verde Land and Water Company the right to sell 60,000 shares of the capital stock of the Palo Verde Mutual Water Company, for such prices and upon such terms as It should elect, and that the moneys so received should go to the Palo Verde land and Water Company As a further conaldaratlon, it was agreed that the remaining 4-0,000 shares of stock were to remain In the treasury until such time as the entire 60,000 shares of stock had been sold; but that 25 ,000 shares of the said 60,000 shares would be deemed subscribed by the Palo Verde Land and water Company, from and after the date of the contract , and, therefore, subject to all assessments levied tiiereon. This contract was modified by a new agreement made between the two companies on October 5, 1912, at which time 30,000 shares of the said 60,000 shares had been Issued at the instance of the Palo Verde Land and Water Company. Uncer the terms of the ::ev agreement (a certified copy of T/hich accompanies this report ani is marked Exhibit "L"), the said Palo Verde Land and water Company waived its right -Calif. Ex. No. 337. |
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. |