Arizona republican., 1900-09-23

Canal company, and the principal place of transacting it's business shall be in Maricopa county, Arizona, and its principal office shall be in Phoenix, Maricopa county, Arizona; provided that said corporation may also trans-t act any business and have an office in such other place or places as it's board of directors may by resolution direct or prescribe. The time of the commence ment of this corporation shall be the time of the filing of these articles of fn- corro-atfon in t.e office of the county recorder of Marit opa county, Arizona and the terminati3n thereof shall be twenty-five years thereafter.
 ARTICLE III.
 The general nature of the business proposed to be transacted by this cor poration is that of owning lands, ap- propriating waters from natural strear's fer the purpose of irrigation 2ad domestic purposes, and for the pur- pose of conveying the same to users thereof for beneficial purpose; also constructing. maintaining and operat- ing canals, dams, ditches, reservoirs and acQueducts and sucn other struc- lures and appliances as may be neces- sary and useful in turning. conducting, 1 controlling, holding and regulating the flow of water for irrigation, and any other purpose for which the same may ] be put to a beneficial use; to acquire ! by location or purchase, or in an.- other l lawful manner whatever, lands and water water rights. franchises, dams. canals, ditches and conduits, reser- ! vOirs and such other structures and | appliances as may be deemed neces- sary, convenient or useful for the managing and operating of said canals, l lands and the water appropriated for the uses herein mentioned: also to sell land convey water rights in Its canals or canals used to furnish and deliver 1 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 tn other corporations also to hold, cul- tivate. acquire. prove up from the the United States government and use md enjoy real estate. and sell, lease, demise and dispose Of the same, or any part thereof as well as any other v or hereafter own. And said corpora tion may borrow money and contract to 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 or any part of the property of this corporation. and all or any part of the property that this corporation may hereafter acquire. and secure the pay
 ment of any money or moneys. with in-
 terest, as said board of directors of the
 corporation shall or may from time tC
 time deem advisable to borrow, and
 may secure the payment of any debt Ot . 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 t the powers and businesses herein men.
 tioned. to the same extent as they could . or might be done by natural person l ARTICLE ".
 The amount of the capital stock ot . this corporation shall be $30000O, di-
 vided into 5000 shares of $1OO each
 and the times when and the conditions y upon which said capital stock shall bt
 paid in are as follows: Upon making = subscription therefor, or within % day'
 thereafter, the whole amount of tn,
 stock which shall be subscribed shall b'
 raid either in cash or in property. Any - person making subscription for stocl = in this corporation who neglects upOI f proper demand being made, to pay fo' f the same. for thirty days thereafter [ shall forfeit the right to pur . chase such stock. All stock is . sued by this corporation shall, befor, b the same is issued. be fully paid, anC r shall be non-assessable thereafter. Tht g certificates of stock and the wate r rights to be used and conveyed by thi
 corporation shall be in such form a . may be prescribed by the board of al
 rectors.
 ARTICLE V.
 The highest amount of indebtedness
 or liability to which this corporation i at any time to be subject or to subjec
 itself is the sum of s20O.OOO.
 ARTICLE VI.
 - Stockholders of this corporation an(
 their private property shall be exemp
 from the corporate debts of this cor poration.
 ARTICLE VII.
 - The affairs of this corporation shal s be conducted by a board of directors a consisting of three stockholders, wht { shall be elected annually by the stock r holders on the second Monday in Jan uary in each year at the hour of tel s o'clock in the forenoon, at the office 0
 said corporation in Phoenix. Arizona
 the number of directors may be in
 creased to five by resolution of tn I board of directors. Said directors shal ,, hold their office for the term of on j. year from the date of their election anC
 until their successors shall be dul!
 elected and qualified, unlesS they shal
 Tn the meantime cease to be stockhold : CTS in this corporation. any persol = teasing to be a stOckholder in this cor
 poration shall cease to be a dir-cto
 or officer in the same. The followin: . named persons. who are subscribers t
 the capital stock Of this corporation l shall constitute the officers and bOarl