OCR Text |
Show -3- 3. The price to be paid to the Company by the District for all of the properties mentioned in Paragraph One hereof, exclusive of operating machinery and equipment, shall be an amount which, in the aggregate, shall equal Ten ($10.00) Dollars per acre for each and every acre of land within the corporate boundaries of said Company which is fully water stocked in accordance with the rules and regulations of the Company respecting the ownership, location and use of shares of its Capital stock, and such acreage shall be determined by the parties hereto from the official books and records of said Company. 4. The price which shall be paid to the company by the said District for the operating machinery and equipment, mentioned in Paragraph One hereof, shall be the fair appraised value thereof, as determined by a board of three competent men chosen for said duty in a manner to be hereafter agreed upon between the Company and the District. 5. In consideration of the execution of this agreement, the Company hereby covenants and agrees that it will, not later than February 1, 1922, in a manner provided by law, submit to its stockholders, for their approval or rejection, the terms of this agreement, and if the same be approved, will secure the necessary legal assent and authority of said stock-holders for the directors and officers of the said Company to fully execute and perform the covenants and conditions of this agreement. 6. In consideration of the execution of this agreement, the District will, on or before February 1, 1922, take all legal steps necessary to provide for the issuance, certification, and marketing of its bonds in an amount which, |
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. |