Arizona republican., 1900-09-21

Maricopa county. Arizona. and it's principal office shall be in Phoenix. | Maricopa county, Arizona; provided that said corporation may also trans l 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 in- corporatf1n in the office of the county recorder of Marfcopa county. Arizona, and the terminal lon 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 streams for the purpose of irrigation and domestic purposes. and for the pur- pose of conveying the same to users thereof for Q beneficial purpose; also constructing, maintaining and operat- ing canals, dams, ditches, reservoirs and acqueducts and such other struc- lures and appliances as may be neces- sary and useful in turning, conducting, | controlling. holding and regulating the 1 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 i 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 de emed neces- ! sary, convenient or useful for the managing and operating of said canals, lands and the water appropriated for 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 corpora ton 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 tivate, acquire, prove up from the | the United States government and use and enjoy real estate. and sell, lease, demise and dispose of the same or any part thereof. as we'll as any other property that this corporation may now 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 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 natural person. ARTICLE ".
 The amount of the capital stock of this corporation shali be $500. 900, d. vided into 5000 shares 0f S100 each; and the times when and the conditions upon V hich said capital stock shall be paid in are as follows: Upon making l SNOoNl 4PNlOIl lCACLOI' Ol NINIilIl OO uelS ? , 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 upon proper demand being made, to pay for 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 this corporation shall be in such form as may be prescribed by the board of di- , rectors-
 , ARTICLE Y.
 The highest amount of indebtedness or liability to which this corporation is at any time to be subject or to subject itself is the sum of S200.O00.
 ! ARTICLE VI.
 Stockholders of this corporation and their private property shall be exempt from the corporate debts of this cor poratiou.
 ARTICLE VII.
 The affairs of this corporation shall 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 Jam uary in each year at the hour of ten o'clock in the forenoon, at the office of 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, unless they shall Tn the meantime cease to be stockhold- CTS in this corporation. any person teasing to be stOckholder in this cor poratiCn shall cease to be a dir ctor 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 Cf directors of this corpOratiOn until