The record-union., 1893-04-03

in carrying out said purposes or any of
them, and to do every act and thing
necessary or proper or convenient for
accomplishing or aiding in accomplish
ing said purposes or any OF them. But
said corporation, or the directors thereof,
shall have no power 10 vote or approprl-
ate any sums of money or other property
10 themselves, or to any officer OF the
corporation for services: but said cor
poratlon may employ such clerks and
employees as may be necessary. Upon
the dissolution of this association or upon
the expiration of its term of existence
all its assets and property then remain
ing shall be transferred and conveyed to
the city Of Sacramento, to be expended by
said city in its discretion for any munich
pal Improvement. All directors and
officers Of this association shall be resi-
dents of the city of Sacramento.
III. Its officers shall consist of a Presi-
dent, Nice-President, Secretary, Treas
urer, eleven Directors and such other Of
tlcers as may from time to time be de-
termined upon. The President and Vice
President shall be elected from the Di-
rectors and by them. The Treasurer may
be member OF the association, or any
bank, and shall be elected by the Direct
ers. The Secretary may or may not be
member of the association; he shall be
elected by the Directors. The Directors
may make their own rules and may meet
at such times and places as they may de-
termine. Vacancies shall be filled by the
Directors.
". Meetings shall be held at such
times as may be fixed upon by the by
laws; and until SO fixed shall be held at
such times as the association may de-
termine.
V. Officers shall hold for one year and
until their successors are elected. The
] al off cha1i ha hold of the
first meeting OF the association in April
OF each year. The election shall be con-
Quoted by the President and Secretary
and by Teller appointed by the Presi-
dent.
VI. Such bonds may be required from
officers and employees as the the Directors
may determine.
VII. The general business affairs of the
association shall be controlled and man
aged by the directors. The President
snail preside at all meetings. In his alb
sence the Nice-President shall preside.
VIII. y quorum shall consist of nine
mem bers, and an election of officers and
all other business transacted by a meet
ing so constituted shall be as valid as il
there had been a majority of the members
present thereat and voting.
TX. The association at any meeting may
| suspend or eXpel any member.
y. These bylaws may be amended by
a majority vote at any meeting.
THE PROPOSED NOTES.
Following is a copy of the note that
each property owner is requested to sigI
and return to the Directors of the asso.
citation:
SACRAMENTO, April 5, 1898.
For value received, on the = day of --
OF each year, for the four years next ensuing
beginning with the year 1898, I [or we prom
| lse TO pay TO the Sacramento Industrial I'm
| proVelnent Association, or order ia corpora
tom. In United States gold coin, sum o
money equivalent to a percentage of oue-hal
| OF one per cent. upon each one dollar of prop
erty assessed TO me or us upon the equalized
assessment roll OF the City of Sacramento. FOL
each OF said four years in which said payment
| Is to be made In determining the amount t
| be paid no deduction shall be made on ac
count of mortgages, but the amount of the
mortgage assessed, il any on my or ourl prop
erty, shall be treated as assessed to me or us
No defense of any kind except payment shall
be made to this note after one month from
date.