New Orleans Republican. [volume] (New Orleans, La) 1867-1878, 1871-07-25
CHARTER,
QUARTER.
STATE OF LOUISIANA, PARISH OF ORLEANS
AND CITY OF NEW ORLEANS.

STATE OF LOUISIANA, PARISH OF ORLEANS
AND CITY OF NEW ORLEANS.
Be it known, that on this twenty-fourth day Of
June in the year of our Lord one thousand eight
hundred and seventy -one. and of the independence
az the United States of America the ninety-ffth
before me, Andrew Hero. Jr., a notary public n
and for the parish of Orleans and city OF New
Orleans, State of louisiana duly commissioned
and qualified, and in the presence OF the witnesses
hereinafter named and undersigned, personally
came and appeared the several parties whose names
are hereunto subscribed, who severally declared
that, awaiting themselves of the laws OF the State Of
Louisiana relative TO the organization OF corpora
lions for works OF public Improvement and for other
purposes, they have covenanted and agreed, and
do by these presents covenant and agree and bind
themselves as well as such other persons as may
hereafter become associated with them, TO form
and constitute corporation and body polite n
law under the following stipulatlons and agree
ments, viz:
The name and title of this corporation shall be
THE NEW ORLEANS WATERWORKS COMPANY,
and its domicile shall be the city OF New Orleans,
in the State OF Louisiana. By said corporate name
the said company SHAH have ana ENJOY succession
for the full term and pc rod of twenty-five years
from and after the date of these presents, and
shall have power and authority TO contract, sue
AID be sued; 10 make and use a corporate seal 10
hold, receive, purchase, lease, mortgage hypothe-
cate, and ALLEVIATE or convey, under its corporate
name property, both real and personal, of every
description, including rights and credits to name
and appoint such managers directors, officers and
employees as its interest and convenience may re-
ouire: and TO make and establish as well alter
and amend. such rules and bylaws for the proper
mana cement and regulation of the affairs OF said
corporation as may be deemed necessary and
proper.
The purposes for which this corporation is es-
tabished. and the nature of the business 10 be
RED by it declared TO be to acquire purchase
lease and construct maintain and carry on
works TO supply the city of New Orleans. and
other cities and towns within the parishes Of Or
leans and Jefferson, with water.
ARTICLE III.
All citations or other process of law shall be
served upon the President of said corporation.
ARTICLE ".
The capital stock of this company shall be three
million dollars, and be represented by thirty tiOu
sand shares, of the sum OF hundred dollars
each. Books of subscription to the capital stock
OF said company shall be opened by the Board OF
Directors, and the said stock shall be paid in in
stallments not exceeding ten per cent, at such
times as the Board of Directors may determine.
Said company shall do no act under the provisions
this charter until fifty thousand dollars OF the
said capital stock shal have been subscribed for.
At least ten DAYS notice shall be given by the
Board of Directors, by advertisement in two news
papers published in the city of New Orleans, OF
the time and place of payment of installments
upon the capital stock of said company, as well
as OF the amount OF such instalments and any and
pany who shall fail or refuse to pay such install
ments thereon after the expiration of said term of
ten davs shall forfeit unto the company all stock
which he or they may have or own together with
all instalments paid thereon, and such stock shall
be reissued and sold by the company, for its cwn
such terms the Board of Directors may deem
for the best interest of the company Each share
of stock shall entitle the owner thereof 10 one
vote all questions and cases elections, either
III person or by proxy.
ARTICLE V.
The affairs of said company shall he under the
direction and management of Board OF Direc-
tors, TO be composed of five stockholders each OF
whom shall own at least fifty shares of the capital
ss oi sg e3P s, ms ms OWL Nd Ie ana
named in the bylaws to be adopted by said COM
pany. A majority OF the whole stock OF said
company shall be requisite to elect and public
IL tice shall be given of the time and place said
election by advertisement during ten days in two
newspapers published in New Orleans. said Board
of Directors shall transact the business OF said
company and hold regular meetings at such times
as they shall fix upon A majority OF
action OF any business; and they shah have
full power to make and establish, as well as alter,
amend or repeal such bylaws, rules and regula-
tons as may be deemed necessary for the regula-
ton and management of the business and affairs OF
said company. Said Board of Directors shall also
have full powers to buy and SELL lease and hire,
and mortgage or pledge all such real and personal
property as they may deem necessary for the uses
and purposes OF said company and, moreover, TO
borrow money by an issue of the bonds OF the
company or otherwise, to an amount not exceed
ing the capital stock of said company. They shah
have authority to carry into execution all the OBJ
iects and purposes of this corporations nominate
and appoint all officers agents or employees TX
their salaries and dismiss them at pleasure; and
shall have and exercise such other and 1urther
powers as may be conferred upon them at any
regular or special meeting of the stockholders. At
their first meeting they shall elect one OF their
number as president of the corporation who shall
preside at all meetings of said Board of Directors
Any vacancies occurring in their number by death,
resignation otherwise, shall be filed by election
by The board for the period intervening between
the occurrence of such vacancy and the next gen
eral election. The first Board of Directors TO serve
until their successors shall be duly elected under
the provisions OF this charter, shall consist of the
following named persons, i'll whom and their sue
cessOrs all corporate powers of this corporation
shall be vested, viz: Joseph Hernandez, Charles T.
Howard. John Lockwood, Joseph R. West and Il.
V. Barringer.
If at or before the expiration of the term of
twenty-five years herein fixed for the duration of
said company, six or more of the stockholdeTs
holding majority in amount of the capital stock
of this corporation shall desire to renew the char
ter OF this corporation for further term and any
stockholders should be unwilling to renew the
same those stockholders that may be unwilling to
renew the same shall be bound transfer the shares
of stock held by them to those desiring renewal or
extension of this charter, at the then market vale
OF the said stock; or if the said stock shOuId
not have known market value at thar
period, the value thereof shall be fxsI
by Two appraisers, one to be chosen by the stock
holders desiring to renew the charter of this COM
pany, and the other to be chosen by the stock
holders who may be unwilling to renew The same.
ana IN the event of disagreement between the
Two appraisers SO chosen, said appraisers shall
choose an umpire, whose decision shall be final
should this charter not be renewed as above nrO
Tlded, then and in that event on the four4b Mon
day before the expiration of said term of tyyen+v
nve Years, or If sooner determined upon n genera
eeoilg OF me stockholders of this company shall
pe convened, after thirty DAYS notice having been
gwen IN two newspapers published in New Orleans
at Whlch meeting three stockholders owning each
at least fifty shares of stock in said con7nanv,
snan be elected by majority of the stockholders
present and represented, whose duty it shall be-
anu they are hereby specially authorized and EN-
powered to enter into and take possession of ell
Inc property and effects of said company and 10
nquldate and fully settle the affairs of the said cor
poratlon IN the manner prescribed by the existing
avs of this State. " "
Z mus done ana passed, in my office at New Or
Ieans aforesaid, IN the presence OF George Cepas
ana raul A. Conand, witnesses, both of this c.tv
VINO hereunto sign their names with the parties
said. ~ ~ 'e 1'''e ANY,
Original signed
CHARLES T HOWARD
JOHN LOCKWOOD