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

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'wltnesses
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
tons for works OF public Improvement and for Other
purposes, they have covenanted and agreed and
| DO hy these presents covenant and agree and bind
themselves well as such other persons as may
hereafter become associated with them, TO form
ami 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 domieile 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 eriod 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; 10
hold, receive, purchase, lease, mortgage, hypothe-
name, property. both real and personal OF every
description including rights and credits; TO name
and appoint such managers directors, officers and
employees its interest and convenience may re-
qure and to make and establish, as well as alter
management and regulation Of the affairs of said
corporation as may be deemed necessary and
proper. -, "'t
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 New Orleans and
other cities and towns within the parishes of Or
leans and Jefferson with water. 80.
ARTICLE Ill.
All citations or other process of law shall be
served upon the President of said corporation.
H. ..--a ARTICLE ". e
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
of uhsav arianr m NIT a 81
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 ffy thousand dollars OF me
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 installments and any and
ali subscribers to the capital stock OF said com
pany who shall fail or refuse TO pay such install
nents 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 ewn
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 enTite the owner thereof to enc
vote all questions aad cases or elections, either
in person or by proxy
The affairs OF SAID company snail De under the
direction and management of a 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 as shall be
named III the bylaws to be adopted by said com
pauv. A majority of the whole stock of said
Company shall be requisite TO elect, aud 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
as 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, as well as alter,
amend or repeal such bylaws, rules and regula-
tons may 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 buyvand 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
ects and purposes of this corporations nominate
and appoint all officers. 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 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 filed by election
by the board for the period intervening between
the occurrence OF such vacancy ana Jne next gen
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 T.
Howard, John Lockwood, Joseph r. West and H.
v. Barringer.
VI - ARTICLE VI. srR.-..g.
| 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 thenmarket value
of the said stock; or if the said stock should
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 in the event of disagreement between the
two appraisers so chosen, said appraisers shall
choose an umpire, whose decision shall be final.
| Should this charter not be renewed above pro-
vded, then and in that event, on the fourth Mon
day before tire 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 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
qudate and fully settle the affairs of the said
poratiOn in the manner prescribed by the existing
| laws of this State. .s.a'-s .E "a :
! 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
Original signed: -.
CHARLES IT HOWARD