New Orleans Republican. [volume] (New Orleans, La) 1867-1878, 1871-07-09
New OrleaI
(yHARTER,............ CHARTER.
STATE OF LOUISIANA, PARISH OF ORLEANS
AND CITY OF NEW ORLEANS.
CHARTER.
CHARTER.

Be it known, that on THIS twenty Gay OI
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 ,nfth,
before me, Andrew Hero, Jr.. notary public III
and for the parish of Orleans and city OF New
Orleans, State OF Louisiana, duly commissioned
and 0ualifed 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 ana
do by these presents covenant and agree and bind
themselves as well as such other persons as may
Hereafter become associated with them, 10 form
and constitute corporation and body pohtlc IN
law. under the following stipulations and agree
ARTICLE l.
The name ard title of this corporation shall be
THE NEW ORLEANS ATERWORKS,COMPANY,
and its domicile shall be the city OF View 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 It's corporate
description, Including rights and credits; to name
and appoint such managers, directors, officers and
employees its interest aud convenience may re-
quire: and TO make and establish, as well as alter
aud amend, such rules and bylaws for the proper
cement and regulation Of the afflrs or SAID
corporation as may be deemed necessary ana
proper.
The purposes for which this corporation is es-
tablisled and the nature of the business TO be
RED by it. declared 10 be TO acquire purchase
or lease and construct maintain and carry On
works TO supply the city of New oTlsans s. and
leans and Jefferson, with water
ARTICLE III. .
All citations 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 he 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
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
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 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 ustallmeLts; and any and
ali subscribers to the capital stock OF said COM
pany who shall fail refuse TO pay such Install
ments 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 instalments paid thereon, and such stock shall
be ressued and sold by the company, for its Cwn
henefit. well as all stock of the company, upon
such terms the Board OF Directors may deem
for the best interest OF the company. Each share
OF stock shall entitle the owner thereof to
vote on all questions and elections, either
in person or by proxy ppr1c1rv
The affairs of said company shall be 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
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
pany. A majority of the whole stock OF said
company shall be requisite TO elect, and public
tee shall be given OF the time and place of said
election by advertisement during ten days III two
he wspapers 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 quorum for the trans
action of any business; and they shall have
full power to make and establish as we'll alter,
amend or repeal such bylaws, rules and regua.
tons as NAV be deemed necessary for the regula-
tion 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 10
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. lney shaH
have authority to carry into execution all the OBJ
iects and purposes of this corporation; nominate
and appoint all officers. agents employees, fix
their salaries and dismiss them at pleasure; and
shall have and exercise such other and further
powers as may he conferred upon them at any
regular special meeting of the stockholders. At
their first meeting they shall elect of their
number as president of the corporation. who shall
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 sucu vacancy and the next gem
eral election. The first Board of Directors to serve
until their successors shall be duly elected under
tie provisions of this charter shall consist of the
following named persons III whom and their sue
cessOrs all corporate powers of this corporation
SHAH be vested, viz: Joseph Hernandez, Charles T.
Howard, John Lockwood Joseph r. West and d.
ARTICLE VI
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 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
the same 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
period, the value thereof shall be fixed
by two appraisers one to be chosen by the stock
holders desiring to renew the charter of this
PAW and the other to be chosen by the stock
holders who may be unwilling to renew the same;
and in the event of disagreement between the
two appraisers so chosen, said appraisers shall
choose an umpire, whose decision shall be nnal.
Should this charter not be renewed above pro-
yided, then and III that event, on the fourth Mon
day before the expiration of said term of twenty
five years. or if sooner determined upon, general
meeting of the stockholders of this company shall
he convened after thirty DAYS notice having been
given in two newspapers published in New Orleans,
at which meeting three stockholders, owning each
at least fifty shares of stock in said company,
shall be elected by majority of the stockholders
present and represented whose duty ii shall be,
and they are hereby specially authorized and EN-.
powered to enter into and take possession of all
the property and effects of said company, and to
iquidate and fully settle the affairs OF the said cor
pOration in the manner prescribed by the existing
laws of this State. i
Thus done and passed, in my office at New Or
leans aforesaid, in the presence of George Cenas
and Paul A. Conand witnesses, both of this city,
whe hereuntO sign their names with the parties
and me, the said notary the day and the date aOre
said.
Original signed:
CHARLES T. HOWARD,