Arizona republican., 1900-09-24

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 | 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 filing of these articles of in- corporation in the office of the county recorder of MariCopa county, Arizona. and the termlnation thereof shall be twenty-five years thereafter.
 ARTICLE III.
 The general nature of the business proposed to be transa cted by this cor poration is that of owning lands, ap- propriating waters from natural strearrs for the purpose of irrigation and domestic purposes, and for the pur- pose of conveying the came to users f thereof for a beneficial purpose; also constructing, maintaining and operat- ing canals, dams, ditches. reservoirs
 
 lures and appliances as may be neces- sary and useful in turning, conducting, | controlling, holding and regulating the | flow of water for irrigation, and any other purpose for which the same may l be put to a beneficial use; to acquire by location or purchase, or in ans' other | lawful manner whatever, lands and water. water rights. franchises, dams. canals, ditches and conduits, reser- i voirs and such other structures and | appliances as may be deemed neces- i sary, convenient or useful for the managing and operating of said canals, i lands and the water appropriated for | the uses herein mentioned; also to sell and convey water rights 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 corpora tions 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 property that this corporation may now | or hereafter own. And said corpora tion may borrow money and contra ct 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 i. z rnent of any money or moneys, with in- terest, as said board of directors of the corporation shall CT 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, tioned. to the same extent as they could or might be done by a natural person. ARTICLE ".
 The amount of the capital stock of this corporation shall be s3O0,Q di- vided into 5000 shares of S100 each; and the times when and the conditions upon which said capital stock shall be paid In are as follows: Upon making subscription therefor, or within 90 days thereafter, the whole amount of the stock which shall be subscribed shall be raid either in cash or in property. Any person making subscription for stock in this corporation who neglects upor proper demand being made, to pay fol the same, for thirty days thereafter shall forfeit the right to pur- chase such stock. All stock is- sued by this corporation shall, before the same is issued. be fully paid. and shall be non-assessable thereafter. The certificates of stock and the water rights to be used and conveyed by thi: corporation shall be in such form as may be prescribed by the board of di- 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 s20OOOO.
 ARTICLE VI.
 Stockholders of this corporation anG their private property shall be exempt from the corporate debts of this cor poration.
 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 o1 said corporation in Phoenix. Arizona the number of directors may be in creased to five by resolution of the board of directors. Said directors shal hold their office for the term of One year from the date of their election and until their successors shall be duly l elected and qualified. unlesc they shall Tn the meantime cease to be stockhOld- CTS in this corporation, any person ceasing to be a stockholder in this cor poratiOn shall cease to be a director or officer in the same. The following | r,o rIcr.r iE,I, +-