||19 thus taken out, shall not retard, hinder, or obstruct the mills, machinery, or the irrigation of lands below, that are now in operation, and cultivation, or may hereafter be. Sec. 3. The company shall h*ve the entire control powers, and management of all the waters thus taken out, and may use the same for the irrigation of lands, for mills and machinery of any kind, and for navigation, and all other lawful purposes whatsoever; may sell, lease, and dispose of the same, or any portion thereof, for any, or all of the above purposes, on such terms and cojjditions as the parties may agree. Sec. 4, The company shall also have the right and privilege to sell, and dispose of stock in shares of two hundred dollars'each; in halt' shares of one hundred dollars, to enable the company to prosecute the work, and to make such improvements in connection with the same, as may be deemed of advantage or profit, until the stock sold shall amount to the sum of two hundred thousand dollars. Each stockholder shall be entitled to one vote for every share paid in, at all meetings of business re*Vot*' quiring a vote, and at all general and special, ejections of officers of the company:' Proaided always^., that each, absentee shall have the right to vote by proxy in writing. Certificates of stock shall be.issued by rhe officers of the company to those who have paid for shares, or half shares,¦fl^?jJ,fJcat6* of and shall be signed by the President, and Secretary. The same.may be transferred by registering the transfer on the company's books; otherwise no transfer of stock will be deemed valid. Sec. 5. The officers of this company shall consist of offlce». a President, Secretary, and Treasurer; and the same 6hall constitute a Board of Directors, or managers. Their term of office shall be four years from the date of their election, and until their successors shall be duly elected and qualitied. They shall take the oath of office to faith- Oatb fully discharge the duties of their stations; and shall file bonds with approved security, in the office of the Clerk of the Probate Court of the county of Utah, and shall annually on the first Monday in May,, present to the stockholders at their office, a just, true, and accurate balance Accoonll sheet, showing the receipts, and expenditures of money and property, with a clear and explicit statement of the entire financial condition, circumstances, and standing of the company, in plain, legible style..