A corporation may be organized under general laws for the purpose of acquiring the assets of said district, including the irrigation system, if any, dams, reservoirs, canals, franchises, water rights, and all other property of any nature belonging to said district, which corporation shall have all the powers, rights, and franchises of corporate bodies organized under general laws and in addition shall have such further powers as may be necessary to possess and carry on said irrigation system and exercise such franchise and water rights.
Source: L. 15: p. 311, § 7. C.L. § 2041. CSA: C. 90, § 539. CRS 53: § 149-3-61. C.R.S. 1963: § 150-3-61.