The north Iowa times. [volume] (M'Gregor [i.e. McGregor], Iowa) 1856-1857, 1857-04-10

and Electing officers according to the
provision of the Code of Iowa. Officers
elected were:
GEO. L. BASS, President.
J. II. MERRILL, Treasurer.
G. s. c. SCOTT, Secretary.
THOMAS ARNOLD.) p,, 49,
AMOS PEARSOLL. D"'''' o'''''
The Constitution adopted is as follows
ARTICLE lst. To all whom these pres
en,s may come know We, that we, whose
names are subscribed to these Articles,
and all such persons as shall hereafter be-
come subscribers to the same, do hereby
associate themselves together, under the
name of 'The McGregor High School
Association" for the purpose of con-
structing a building or buildings in or
near the Town of McGregor, Clayton
County Iowa, to be used for school or
such other purposes as the Association
may from time to time determine.
ART. Cd. Said Association shall have
full power to enter into such contracts as
may be necessary to secure site for said
building and for the purpose of erecting,
managing and contracting the same, to
sue and be sued by its corporate name,
to have a common seal which it may alter
at pleasure, to have perpetual succession,
to render the interest of Stockholders
transferable, and to establish Bylaws for
the regulation of the Association.
Art. 5rd. This corporation shall COM
mence on the 10Th day of March 1857,
shall continue for the period of Five
Years with the right of renewal. The
Capital Stock shall be not lees than Thir-
teen Hundred nor more than Three Thous-
and Dollars, which shall be divided into
shares of Twenty Five Dollars each.
ART. 18th. The affairs of said Associa-
ton shall be conducted by President,
Treasurer and Secretary, who shall con-
stitute board Of Trustees, and shall be
annually elected by vote of a majority of
the Stockholders who may be present at
the annual election. Election each year
to be held on the Saturday next proceed
ing the last Saturday in March, each
share being entitled to one vote in all
cases.
ART. 5th. Two weeks notice of each
Annual Election, latter the first) shall be
given by a notice signed by the Secretary
and published in soma Newspaper printed
in said Town of McGregor, or by posting
written notices in four public pieces in
said Town, and for the first year, Election
to be on Saturday, March FL, 1857.
ART. 9th. The aggregate amount Of in
debtedness of the Association shall not at
any time exceed one half of the Capital
Stock subscribed. Two Of the Trustees
mentioned shall constitute quorum for
the transaction of business. Private
property is to be exempt from corporate
debts. ~
ART. 7th. The holders of any share or
shares of Stock may transfer the same to
any other person or persons by written
assignment, provided that 95 per cent
shall have been paid on such share or
shares. and by having said transfer enter
ed on the books Of the Association.
ART. 9th. Any person may become a
member of the Association by taking one
share of Stock, and no person not owning
at least one share shall hold the office of
Trustee.
ART. 8. The Stock shall be paid in by
installments at such times and amounts as
the Association may by majority vote
determine.
ART. 10. The place of transacting the
business of the Association shall be at the
Town of McGregor.
ART. 1lth The Trustees shall make
an Annual or Semi-Annual dividend of
all moneys in the Treasury, and make an
Annual Report of their doings, and they
with two other persons to be elected at
the first meeting, shall constitute build
ing committee to erect or cause to be erect
ed the first school building and have
general supervision of the construction
thereof, excepting that the dimensions
thereof, and the site therefor shall be de-
iermined by the Association.
Signed by
II G. SCOTT,
MILLER q BASS,
WIN. w. ALLEN.
II. H. WILKINSON,
MERRILL d. BARRON,