New Orleans Republican. [volume] (New Orleans, La) 1867-1878, 1871-07-23
CHARTER.
STATE OF LOUISIANA PARISH OF ORLEANS
AND CITY OF NEW ORLEANS.

AND CIll Of NEW OhLEANo'
Re it known that on this twenty -fourth day of
June. in the year of our Lord thousand eight
hundred and seventy-one. and of the Independence
of the United States of America the ninety fifth,
before me, Andrew Hero, Jr., notary public in
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 avalng 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 may
hereafter become associated with them to form
and constitute a corporation and body polite in
law under the following stipulations and agree
ARTICLE
The name and title of this corporation shall be
THE NEW ORLEANS WATERWORKS COMPANY,
and its domicie 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 pe Rod 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 a 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 it's interest and convenience may re-
quire; and to make and establish as well as 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-
tabshed, and the nature of the business to be car
ried by it, are declared TO 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
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 installmebts and any and
all subscribers to the capiral stock OF said COM
pany who shall fail or 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 instaments paid thereon, and such stock shall
be ressued and sold by the company, for its own
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 share
of stock shall entitle the owner thereof to one
vote on all questions and cases or elections, either
in person or by proxy.
ARTICLE "
The affairs of said company shall be under the
direction and management of a Board of Direc-
tors, to be composed OF i've stockholders, each OF
whom shall 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 stall be-
pany. majority of the whole stock of said
company shall be requisite to elect, and public
n-tice 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 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 regua-
tions a, maybe deemed necessary for the regula-
ton and mana cement 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 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 issue OF the bonds OF the
company or otherwise, TO an amount not exceed
ing the capital stock of said company. They shall
ects and purposes of this corporation; nominate
and appoint all officers, agents employees, fix
their salaries, and dismiss them at pleasures and
shall have and exercise such other and further
powers may be conferred upon them at any
regular special meeting of the stockholders. At
their first meeting they shall elect of their own
number 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 sucn 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
shall be vested viz: Joseph Hernandez, Charles q.
Howard, John Lockwood, Joseph r. West and H.
V. Balringer.
If at or before the expiration of the term of
twenty-five years herein xed 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 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 it the said stock should
not have known market value at that
period, the value thereof shall be fixed
by two appraisers, 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;
and in the event of a disagreement between The
two appraisers chosen, said appraisers shall
choose umpire, whose decision shall be nnal.
should this charter not be renewed as above pro
vided then and in that event, on the fourth Mon
day before the expiration of said term of twenty
five years. or if sooner determined upon, genera
meeting of the stockholders of this company shall
be convened, after thirty days notice having been
given in two newspapers publish ed in New Orleans,
at Wnlch 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 it 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
lquidate and fully settle the affairs OF the said
poration in the manner prescribed by the existing
avs of this State.
Thus done and passed in my office al New Or
leans aforesaid in the presence of George Cenas
and Paul A. Conand witnesses both of this city,
who hereunto sign their names with the parties
and me- the said notary the day and the date afore
said.
Original signed:
CHARLES T. HOWARD
JOHN LOCKWOOD
j. R. WEST
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