The Clifton clarion., 1888-07-25
Articles of Incorporation
 of the Valley Canal Comp'ny

Alfred NJ. Lay, Burwell B. Adams. David W. Barter. Andrew Erickson and John H. Brown, being the owners of certain irri- gating ditch or canal commonly known and designated as the Valley Ditch or Canal now being constructed by us and situated in the County of Graham and Territory Of Ari- zona, and being desirous of incorporating ourselves and to form corporation under the provisions of the laws of the Territory of Arizona and especially of an act of the Legislative Assembly of the Territory of Arizona, approved March sth, 1887, entitled Corporations" for the purpose of mutual protection and of engaging in the business and enterprise hereinafter mentioned, do make, subscribe and acknowledge these arti- cles of incorporation and declare:
 1.
 The name assumed by this corporation and by which it shall be hereafter known is "The Valley Canal Company" and the principal place for the transaction of its business is the town of Duncan, County of Graham, Territory of Arizona.
 II.
 The enterprise, pursuit, business and occu- patton in which this corporation proposes to engage is that of maintaining, keeping in repair, enlarging and extending the said Valley Irrigating Canal, for irrigating and motive purposes, to acquire water and water rights by purchase and location, to construct and maintain canals, ditches, fumes, dams and reservoirs for the purpose of conduct ing, storing and distributing water so ac- quired for irrigating land. watering live stock and for domestic and for other pur- poses, and to supply and sell water for said and other purposes, and to do and transact any and all kinds of business which may or might be done by natural person that may be necessary to fully carry out the object of this corporation.
 The amount of the capital stock of this corporation shall be fifteen hundred dollars, divided into twelve shares of the par value of one hundred and twenty-five dollars each, to be fully paid up at the first meeting of the Board of Directors of the said Valley Canal Company.
 The time of the commencement of this corporation shall be the day of the filing of these articles in the office of the County Re- corder of the County of Graham in the Ter ritory of Arizona and shall terminate fifty years thereafter.
 The affairs of this corporation shall be conducted by Board of Directors composed of three persons, who shall be elected annu- ally by the stockholders and shall hold office for one year, and until their successors are elected and qualified. The time and manner of said election shall be prescribed and pro- vided for by bylaws of said corporation. Said directors shall be subscribers to the capital stock of said corporation, and no person shall be eligible to said office unless he be stockholder in the corporation, and any person ceasing to be a subscriber shall cease to be director, and hereafter if any director shall cease to be stockholder he shall cease to be a director.
 VI.
 The highest amount of indebtedness or liability, direct or contingent, to which this corporation is at any time to be subject is the sum of eight hundred dollars.
 VII.
 The stockholders and their private prop erty shall be exempt from. the corporate debts of this corporation.
 The Board of Directors of this corporation shall have power to establish bylaws and make all rules and regulations necessary for the management of the affairs of this cor poration. and the officers thereof.
 Tho following named persons, who are subscribers to the capital stock of this cor poration, shall constitute its Board of Di- rectors until the first Monday in January, 1889, and until their successors are duly elected and qualified, to-wit:
 Burwell B. Adams. Alfred M. Lay and David w. Barter.
 In witness whereof we have hereunto set our hands and seals this 29th day of June, 1888.