Arizona weekly citizen., 1892-12-03

l ledge, in triphcate, these Articles of h. corporation:
 The name of this corporation, and by which it shall hereafter be known, is THE SANTA CRUZ VALLEY WATER STOR- AGE COMPANY. and the principal place for the transaction of it's business shall be in the City of Tucson, County of Pima, Territory of Arizona.
 H.
 That the business and enterprise in which this corporation proposes to en- | gage, shall be to acquire by purchase. location, or in any lawful manner, real estate, lands and all other kinds of prop erty, real, personal an mixed, in the Territory. of Arizona, and to improve and lease, or sell and convey the same; to construct and maihtain dams and reservoirs for the purpose of impOund ing and storing water, and to construcJ and maintain canals, for the purposes of irrigation, and to convey and to sell water for irrigation and other purposes; to acquire by appropriation or by pur- 1 chase, water and water rights and to sell or lease the same, and generally to
 
 and storing water and constructing canals for the purpose of conveying and selling water and water-rights for irriga- tion, mining, domestic and other pur- poses, and to do and to transact any ard all kinds of business which may or mig Int be done by a natural person, that may be necessary to fully carry out the ob | ject above set forth.
 III.
 l The amount of the capital stock of this Corporation shall be One Million | Dollars, divided into sixteen thousand | Cumulative, SIX per cent. preference shares, and twenty four thousand ordin- ary shares, (making a total of forty thousand shares.) of the par value of twenty-five dollars each. The said Gu mulative preference shares shall bear interest at the rate of six per cent. per annum from the date of issuance thereof, to be pad annually by said Corporation, which interest if not paid annually whom due, shall accumulate, and shall be paid before any dividends are decl6r- ed on the ordinary shares. The ordin- ary shares shall be entitled to all divi- dends that may be declared, after all | interest and arrears of interest, if any, | that may be due on the Cumulative Preference shares, shall first have been paid.
 Each share of stock (be it Preference or Ordinary shall be full paid up and non -assessable, and shall only be issued after the par value thereof has first been paid unto the Treasurer of the | Corporations; upon the receipt of the par | value thereof by the Treasurer, such share or shares, be the same Preference or Ordinary, shall be issued by the Cor i poration, to the person or persons en- ! titled thereto.
 The holder of Preference shares shall | have the right and option, up to the first day of January, 1895, of exchanging | their Preference shares for Ordinary shares.
 The time of the commencement of this Corporation shall be the day of the fil- 1 ing of these Articles in the office of the County Recorder of the County of Pima, Territory of Arizona, and shall termi- nate fifty years thereafter.
 V.
 The highest amount of indebtedness or liability to which this Corporation is at any time to be subject is the sum of one hundred thousand dollars.
 VI.
 The affairs of this Corporation shall be conducted by the following officers, to-wit:-by Board of Directors to be | com posed of seven persons, stockholders of this Corporation, of whom one shall | be President, and one shall be Vice ] President of this Corporation; and the 1 Board of Directors is to elect, out of its | own number the President and Vice President; there shall also be a Treas urer and Secretary, who shall also be elected by the Board of Directors.
 VII,
 Said Board of Directors shall be elect ed annually on the first Monday in May of each year by the shareholders of the | Corporation, and they and all other officers Of this Corporation, shall hold office for one year and until their sue cessors are elected and qualified; pro | vided, however, that the first election | shall be held as soon as practicable after the fling of these Articles of Incorpora- | ton. No person shall be eligible to the office of Director unIese he Je a share holder in the Corporation, and any per son ceasing to be a shareholder shall | cease to be a Director.
 VIII,
 ' The Board of Directors of this Cor pOration shall have power to establish 1 bylaws, and make all rules and regula- lions necessary for the management of this Corporation, and the officers there of.
 K.
 The shareholders and their private property, shall De exempt from the cor porate debts of this Corporation. l lN WITNESS WHEREOF, we have here unto placed our hands and seals this twenty-first day of November, A. D., 1892.
 MERRILL P. FIREMAN, IsEALl
 JOHN M. ORMsBY, SEAL
 GEORGE J. RosKRgGE, SEAL