New Orleans Republican. [volume] (New Orleans, La) 1867-1878, 1871-07-16
New Orleans
CHARTER,
CHARTER. CHARTER.
"
STATE OF LOUISIANA, PARISH OF ORLEANS
AND CITY OF NEW ORLEANS.
QUARTER


and for the parish of Orleans and city of New
Orleans, State of louisiana duly commissioned
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 a corporation and body polite in
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
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-
anu bob rea snd arsons of sner
description including rights and credits; to name
and appoint such managers, directors, officers and
employees its interest and convenience may re-
quire; and to make and establish, as well alter
and amend, such rules and bylaws for the proper
management and regulation of the affairs of said
corporation may be deemed necessary and
proper.
The purposes for which this corporation is es
tablshed and the nature of the business to be
ried by it, 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 OF 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
Rf o1ho1 ha tIa r1 Of
Directors, and the said stock shall be paid in in
stallments not exceeding ten per cent, at such
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
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 refuse to pay such INSTALL
ments thereon after the expiration of said term of
ten days, shall forfeit unto the company all stock
all instalments paid thereon and such stock shall
be ressued and sold by the company, for its cwn
benefit, as well as all stock OF the company upon
for the best interest of the company. Each share
of stock shall entitle the owner thereof to one
vote all questions and cases 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 capital
stock of said company i'll his own name, and they
shall be elected at such time and place shall be
pany. majority of the whole stock of said
company shall be requisite to elect, and public
notice 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
said board shall constitute 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.
tons as may be deemed necessary for the regula-
tiOn 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
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 may be conferred upon them at any
regular or special meeting of the stockholders At
their first meeting they shall elect 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 or otherwise snail be hlled by election
by The board for the period intervening between
the occurrence of such vacancy and the next gem
eral election The first Board of Directors to
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 y.
Howard, John Lockwood, Joseph R. West and ID.
V. BarringeT.
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 shall be bound to transfer the shares
of stock held by them to those desiring a renewal
extension of this charter at the then market value
of the said stock; or if the said stock should
not have known marie market value at that
by two appraisers, one to be chosen by the stock
holders desiring to renew the charter of this
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
tgO appraisers SO chosen, said appraisers shall
choose an umpire, whose decision shall be final.
Should THIS charter not be renewed as above pro-
vded, then and in that event, the fourth Mon
day before the expiration of said term of twenty
five wears, or if sooner determined upon, general
meeting OF the stockholders of this company shall
be convened, after thirty days notice having been
given in twonewspapers 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 it shall be,
and they are hereby specially authorized and EN-,
the property and effects of said company, and to
hquidate and fully settle the affairs of the said
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
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.