OCR Text |
Show -28- fifteen thousand ($15,000) Dollars, provided in the seventh paragraph hereof to be made by the Company to said Trustee, and the Trustee shall have authority for such purpose to sell all investments which have been accumulated by it from such payments. All payments made by said Trustee upon said last names bonds shall be stamped thereon, and any excess of said Sinking- Fund remaining after the payment of the bonds then due, shall be retained by the Trustee as a part of the Sinking Fund, for the payment of the bonds then outstanding. Tenth. At the expiration of thirty (30) years from the date of said bonds, namely, on the first day of July, 1930, the Trustee shall pay the holders and owners of the bonds then outstanding, pro rata on account of the principal of said bonds, the Sinking Fund remaining in its hands, and said Trustee shall have authority for such purpose to sell all investments on hand; such payment shall be stamped upon the bonds, and any excess of said Sinking Fund after the payment of such principal shall be applied pro rata to the payment of unpaid coupons. Any excess remaining in the hands of the Trustee after the payment of such bonds and coupons shall be paid to the Company. Eleventh. It is further covenanted and agreed that the Company will furnish to the Trustee on the first day of January and July in each year, a statement of all moneys received by it or by said Mexican Company from the sale of lands in the Republic of Mexico, or water rights to be used in the Republic of Mexico. Such statement to be certified as correct by the President and Treasurer of the Company. Twelfth. Wherever in this instrument price, payments or value is expressed in money, and wherever the term |
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. |