New Orleans Republican. [volume] (New Orleans, La) 1867-1878, 1871-07-08

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STATE OF LOUISIANA PARISH OF ORLEANS
AND CITY OF NEW ORLEANS.

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 lative to the organization OF corpora
lions for works OF public improvement and for other
purposes they have coveuanted 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 corporation and body polite in
| law under the following stipulations and agree
ARTICLE l.
The name and title of this corporation shall be
! THE NEW ORLEANS WATERWORKS COMPANY,
and its domcile shall be the city of New Orleans,
| in the State of Louisiana. By sad corporate name
! the said company shall have and enjoy succession
for the full term and pr Rod of twenty-five years
| from and after the date of these presents, and
| shall have power and authority TO contract, sue
| aud be sued to make and use a corporate SEAL to
| hold receive, purchase, lease, mortgage, hypOthe
cate, and ALLEVIATE convey, under its corporate
name, property, both real and personal, of every
description, including rights aud credits; TO name
and appoint such managers, directors officers and
employees as its interest and convenience may re-
qure and TO make and establish, as well as alter
aud amend. such rules and bylaws for the proper
mana cement and regulation of the affairs of said
corporation may be deemed necessary and
proper.
The purposes for which this corporation is es-
tablished and the nature of the business to be
ried by it, 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 H.
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 aud 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 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 sha1 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, well
of the amount OF such installmeuts; 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 installments paid thereon, and such stock shall
be reissued and sold by the company, for its
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
vote on all questions aud cases or elections either
ARTICLE v
The affairs of said company shall be under the
direction and management of Board of Direc.
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. 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
they shall nix upon. A 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 by laws rules and regula.
tions a, may be deemed necessary for the Tegula.
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 pledge all such real and personal
property they may deem necessary for the uses
and purposes OF said company aud, 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. agen's or employees, nix |
their salaries, and dismiss them at pleasure; and
sball 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 vaeant les occurring in their nunber by death,
resignation or otherwise, shall be filled by election
by The board for the period intervening betN cen |
the occurrence of sucn vacancy and the next gen |
eral election The first Board of Directors to
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 7. |
Howard, John Lockwood, Joseph r. West and Il.
V. BarrinSer.
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 a further term, and
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, a 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 COM
Pany, and the other to be chosen by the stock
holders who may be unwilling to renew the same;
and III the event of a disagreement between the
two appraisers chosen, said appraisers shall
choose an umpire, whose decision shall be final.
Should this charter not be renewed 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, general
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 |
at least fifty shares of stock in said company,
shall be elected by maj Ority 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
quidate and fully settle the affairs of the said cor
pOraton IN the manner prescribed by the existing
laws of this State.
Thus done and passed, in my Office at New Or
eans 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
,aid.
Original signed:
CHARLES T. HOWARD,