Arizona republican., 1900-09-20


 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 termination thereof shall be twenty-five years thereafter.
 ARTICLE IT.
 The general nature of the business proposed to be transacted by this cor pOration is that of owning lands. ap- 7ropriating waters from natural streams fer the purpose of irrigation ana domestic purposes, and for the pur- pose of e nveying the same to Users thereof fJr a benefc:a, purpose; also constructing. .0aia;alning and operat- ing canals. dars. dltches, reservoirs and acqueducts and such other struc-
  sary and useful in turning. conducting, controlling. holding and regulating the flow of water for irriga ton, and any other purpose for which the same may be put to a beneficial use: to acquire by location or purchase. or in any ether lawful manner whatever, lands and water. water rights. franchises, dams. canals. ditches and conduits, reser- ! Cth Str nj appliances as may be deemed 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 rights in Its canals or canals used to furnish and deliver to persons owning stock or water rights in this corpora tion 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 i in other corporations also to hold, cul- l tivate. acquire, prove up from the the United States government and use I 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 l or hereafter own. And said corpora ! ton 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 CT 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 i 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 shall be $300.0 900. di- vided into 5000 shares of $100 each; and the times when and the conditions V 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 paid either in ,ash or in property. Any Person making subscription for stock in this corporation who neglects upon proper demand being made, to pay foI 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 corpora tion 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 is at any time to be subject or to subject itself is the sum of s200.0O0
 ARTICLE VI.
 Stockholders of this corporation anG ; their private property shall be exempt : from the corporate debts of this cor poratiou.
 ARTICLE VII.
 The affairs of this corporation shal be conducted by a board of directors !, consisting of three stockholders, wht 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 Q! said corporation in Phoenix. Arizona the number of directors may be in creased to five by resolution of th' 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 elected and qualified. unless they shal l Tn the meantime cease to be stOckhOld- CTS in this corporation, any persor teasing to be a stockholder in this cor pOratiCn shall cease to be a dir-ctol or officer in the same. The following named persons, who are subscribers tc the capital stock of this corporation