New Orleans Republican. [volume] (New Orleans, La) 1867-1878, 1871-07-20
CHARTER.
CHARTER.....,
STATE OF LOUISIANA, PARISH OF ORLEANS
AND CITY OF NEW ORLEANS.

Re it known that on this twenty fourth day of
June in the year of our Lord one thousand eight
hundred and seventy-olte and OF tne independence
of the United States of America the ninety,htth,
before me, Andrew Hero, Jr., a notary pubic In
and for the parish of Orleans ana city OF New
Orleans. State of Louisiana, duly commissioned
and duaiied, and in the presence OF the witnesses
hereinafter named and undersigned personally
came aud appeared the several parties whose names
are bereunto subscribed who severaily declared
that awaiting themselves of the laws OF the state OF
Louisiana relative to the organization OF corpora
tions works OF public improvement and for 0ther
purposes they have covenanted and agreed and
do by these presents covenant and agree and olnd
themselves, well as such other persons as may
hereafter become associated with them 10 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 sea-; 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: 10 name
and appoint such managers, directors, officers and
employees it's interest and convenience may re-
ouire; and to make and establish, well as alter
and amend such rules and bylaws for the proper
management 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, declared 10 be TO acquire purchase
or lease and construct, maintain and carry on
works to supply the city OF M New oreans s. and
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
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
of the amount of such installments; and any and
ali subscribers to the capital 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 nstallments paid thereon, and such stock shall
be reissued and sold by the company, for its cwn
benefit, 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 thereof 10
vote on all questions and cases or elections, either
in person or by proxy
ARTICLE V.
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 canitaI
stock of said company in his own name and they
shall be elected at such time and place as shall be
named in the bylaws to be adopted by said
company shall be requisite to elect, and public
natice shall be given of the time and place of said
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 nix 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 as well as alter
amend or repeal such bylaws rules and regula.
lions as may be 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 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
lects and purposes OF this corporation; nominate
and appoint all ofheers. agents or employees, fix
their salaries, and dismiss them at pleasure; and
shall have and exercise such other and further
powers as may be conferred upon them at 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 between
the occurrence of suen vacancy and the next gen
era 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
shall be vested, viz: Joseph Hernandez Charles T.
howard, John Lockwood Joseph R. West and H.
ARTICLE VI
If at before he of tIa
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
renew the shall be bound to 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.
pany, 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 tLe
two appraisers so chosen said appraisers shah
choose umpire whose decision shall he final
should this charter not be renewed as above pro
ylded, then and in that event, on the fourth Mon
Jay before the expiration of said term of twenty
five wears, or if sooner determined upon a genera
meeting of the stockholders of this company shall
be convened, after thirty days notice having been
given in two newspapers published in New Orleans
at which meeting three stockholders, owning each
al least nifty shares OF stock in said company
snail 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
hqudate and fully settle the affairs of the said cor
poration in the manner prescribed by the existing
laws of this State.
Thus done and passed, in my Office at New Or.
leans aforesaid in the presence of George Cenas
ana Paul A Conand witnesses, both of this city
who hereunto sign their names with tbe nart;ss
said. ~ e u'''e @Ao1e'
Original signed: