New Orleans Republican. [volume] (New Orleans, La) 1867-1878, 1871-07-11
CHARTER.
CHARTER. Ct
STATE OF LOUISIANA, PARISH OF ORLEANS
AND CITY OF NEW 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
| of the United States of America the ninety-hfth
| before me- Andrew Hero, Jr.. a notary public III
| 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, well as such other persons as may
| hereafter become associated with them, TO form
and constitute a corporation and body polite in
| law under the following stipulations 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 shall have and enjoy succession
for the full term and period of twenty-five years
from and after the date of these presents, and
shall have power and authority TO contract. sue
and be sued; to make and use corporate seal; to
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 its interest and convenience may re-
auire; and to make and establish, as we'll as alter
and amend such rules and bylaws for the proper
mama cement and regulation OF the affairs of said
corporation may be deemed necessary aud
proper
The purposes for which this corporation is es-
tablished and the nature of the business to be
red on by it are declared be to acquire purchase
or 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 thou
sand shares, of the sum of one 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
staments not exceeding ten per cent at such
times the Board of Directors may determine.
Said company shall do no act under the provisions
OF this charter until fifty thousand dollars of the
said capital stock shall have been subscribed for.
At least ten days notice shall be given by the
Board of Directors, by advertisement in two news
papers published i'll the city of New Orleans. of
the time and place OF payment of installments
upon the capital stock of said company, well
as of the amount OF such installmehs; and any and
ali subscribers to the capital stock OF said COM
pany who shall fail or refuse to pay such INSTALL
nents thereon after the expiration of said term of
ten days shall forfeit unto the company all stock
which he or they may have or own, together with
all installments paid thereon and such stock shall
be reissued and sold by the company for its cwn
benefit, as well as all stock of the company, upon
such terms as the Board of Directors may deem
for the best interest of the company. Each
of stock shall entitle the owner thereof to one
vote on all questions aud cases or elections, either
IN person or by proxy
The affairs of said company shall be under the
direction and management OF Board OF Diree-
tors, to be composed of five stockholders, each of
whom shall own at least fifty shares of the capital
stock of said company in his own name, and they
shall be elected at such time and place shall be
named in the bylaws to be adopted by said COM
company shall be requisite to elect, and public
n-tce shall be given of the time and place of 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. majority of
said board shall constitute a quorum for the trans.
action of any business; and they shall have
full power to make and establish, well alter,
amend or repeal such bylaws rules and regula.
lions a, 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 shall
have authority to carry INTO execution all the OBJ
jects and purposes of this corporation: nominate
and appoint all officers agenrs or employees, fix
their salaries, and dismiss them at pleasure; and
shall have and exercise such other and further
powers may be conferred upon them aft any
regular or special meeting OF the stockholders. At
their first meeting they shall elect of their own
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 filled by election
by the board for the period intervening betveen
the occurrence OF suen 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, in whom and their sue
cessors all corporate powers of this corporation
snail be vested viz: Joseph Hernandez, Charles T.
Howard. John Lockwood, Joseph f. West and H.
V. Barringer.
ARTICLE VI
If at or before the expiration of the term of
twenty years herein fixed for the duration of
s said company, SIX or more OF the stockholders
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 shall be bound to transfer the shares
of stock held by them to those desiring renewal or
extension of this charter at the then market value
OF the said stock; or if the said stock should
not have known market value at that
by two appraisers, one to be chosen by the stock
holders desiring to renew the charter of this COM
Pan4y, and the other to be chosen by the stock.
holders who may be unwilling to renew the same;
and in the event of a 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 pro-
yided, then and in that event. on the fourth Mon
day before the expiration of said term of twenty.
hYe years, or If sooner determined upon a general
meeting OF the stockholders of this company shall
be convened after thirty days notice having been
gwen IN two newspapers published in New Orleans
at winch meeting three stockholders, owning each
at least fifty shares of stock in said company
shau be elected by majority of the stockholders
present and represented whose duty it shall be,
ana they are hereby specially authorized and EN-
powered to enter into and take possession of ali
me property and effects of said company. and TO
nqudate and fully settle the affairs of the said cor
laws of this State. - >''ns
Thus done and passed, in my office at New Or.
leails aforesaid, in the presence of George Cenas
and Paul A. Conand witnesses both of t3is " ita
who hereunto sign their names with the partissS,
said. ' W 'Aie uate aiole-
Original signed