Arizona republican., 1900-09-22

Canal company, and the principal place of transacting it's business shall be in Maricopa county, Arizona, and it's principal office shall be in Phoenix. Maricopa county. Arizona; provided that said corporation may also trans 1. act any business and have an office in such other place or places as its board of directors may by resolution direct or prescribe. The time of the commence ment of this corporation shall be the time of the fling of these articles of in- cD~rJ:a,ion in tle office of the county recorder of Mari opa county Arizona, and the terninatiln thereof shall be twenty-five years thereafter. i
 ARTICLE III.
 The general nature of the business proposed to be transa ted by this cor poration is that of owning lands. ap- propriating waters from natural strea0's fer the purpose of irrigation and domestic purposes, and for the pur- bose of conveying the same to users thereof for a beneficial purpose; also constructing. maintaining and operat- ing canals, dams, dltchcs. reservoirs ] lures and appliances as may be neces- aary and useful in turning. conducting, controlling. holding and regulating the | flow of water for irriga ation, and any other purpose for which the same may ] be put to a beneficial use: to acquire by location or purchase, pr in an other lawful manner whatever, lands and water, water rights. franchises, dams. canals. ditches and conduits, ressr- voirs and such other structures and ! appliances as may be deemed neces. sary. convenient or useful for the managing and operating of said canals. lands and the water appropriated for 1 the uses herein mentioned: also to sell and convey water r ghts in its canals or canals used to furnish and deliver , to persons owning stock or water rights in this corporation water for any beneficial use for which such persons may desire the same: also to deal in all kinds of real and personal prop erty. including the ownership of stocks in other corporations also to hold, cul- | tivate. acquire. prove up from the 1 Jhe United States government and use and enjoy real estate. and sell. lease. demise and dispose Cf the same or any part thereof, as well as any other property that this corporation may now | or hereafter own. And said corpora ton may borrow money and contract 10 pay the same at such time or times and at such rate of interest as its board of directors deem proper. and may hypothecate, mortgage or pledge all CT any part of the property of this corporation, and all or any part of the property that this corporation may
 
 rnsnt of any money or moneys. with in terest, as said board of directors of the corporation shall or may from time to time deem advisable to borrow, and may secure the payment of any debt of this corporation by mortgage or other wise. and agree to pay such interest thereon as the board Of directors of this corporation may from time to time deem advisable. And said corporation may do any and all acts incident to the powers and businesses herein men, . toned. to the same extent as they could or might be done by natural person. ARTICLE ".
 The auount of the capital stock of this corporation shall be $30O.O0O. di- vided into 5000 shares 0f $1OO each; and the times when and the conditions upon V hich said capital stock shall be paid in are as follows: Upon making subscription therefor. or within 9 days , thereafter, the whole amount of the | stock which shall be subscribed shall be raid either in cash or in property. Any person making 2 subscription for stock in this corporation who nag glects upor , proper demand being made. to pay fol the same. fer thirty days thereafter shall forfeit the right to pur. chass such stock. All stock is. sued by this corporation shall. before
 the same is issued. he fully paid ant shall be non-aSsessa thereafter. The certificates of stock and the water
 rights to be used and conveyed by thi. corporation shall be in such form a. may be prescribed by the board of di. rcctors-
 , ARTICLE Y.
 } The highest amount of indebtedness. or liability to which this corporation i: at any time to be subject or to subject iiself IS the sum of $200GOO.
 ,, ARTICLE VI
 Stockholders of this corporation anl
 their private property snail be exempt
 from the corporate debts of this cor, 5 poratiou.
 ARTICLE VII.
 The affairs of this corporation shal be conducted by a board of directors
 consisting of three stockholders. who shall be elected annually by the stock holders on the second Monday in Jan-
 uary in each year at the hour of ter o'clock in the forenoon. at the office ol said corporation in Phoenix. Arizona the number of directors may be in- creased to five by resolution of the board of directors. Said directors shall hold their office for the term of one year from the date of their election and until their successors shall be duly elected and qualified, unlezs they shall in the meantime cease to be suockhold- CTS in this corporation, any persou teasing 70 be a stockholder in this cor poration shall cease to be a director or officer in the same. The following named persons who are subscribers to the capital stock of this corporation shall constitute the officers and board