The news-herald., 1904-01-09
Articles of Incorporation of the
Martinez Water Company

| =. Herndon ana L. Il. Norris, OF Yavapai coun-
ty Territory of Arizona, do hereby associate
ourselves together for the purpose of forming
a corporation under the laws of the Territory
OF Arizona, and to that end do certify the fol-
| lowing: E<
First-The name of this corporation shall be
the Martinez Water Company.
Second-The principal place of business of
this corporation shall be Prescott, Yavapai
county, Arizona, with business office at Mar
tinez, in said county. and such other places as
the Board of Directors may designate.
Third-The general nature of the business
proposed to be transacted by this corpora
| tion is:
(a) To acquire, own, hold, operate IN, buy,
sell, lease, pledge, mortgage, hypotheeate and
deal in real estate, mines, mining claims mill
| sites, water, water rights, dam sites, reservoir
sites, bitches, fumes, aqueducts, pipe and pipe
lines.
(b) To dig or bore wells or tunnels for the
purpose of developing water supplies, to con-
struct dams and reservoirs for storing food
waters, to construct bitches, fumes, aqueducts
and pipe lines to convey and distribate water
to such place or places where it may be re-
quired.
| (c) To deal in real and personal property of
| (d) To borrow money; to issue bonds; to ex-
ecute mortgages or deeds of trust as security,
and to handle and deal in, and to execute and
issue any and all character of securities and
| obligations.
| (e) Said corporation shall have all the powers
and privileges liabilities and rights of an in.
dividual. 1t being hereby expressly provided
that the foregoing enumeration of specific
powers shall not be held to limit or restrict in
any manner the general powers of the corpor-
alton conferred by the laws of the Territory
upon such corporations.
Fourth-The total authorized capital stock
OF this corporation shall be Twenty Thousand
Dollars ($20OO0.00), divided into Twenty Thou
| sand (2)00O) shares of the par value of One
Dollar ($1.0O each, of which Ten Thousand
! 100000 shares of the par value of Ten Thou
sand Dollars ($10,0000O shall be preferred
| stock, and Ten Thousand 10000 shares of the
par value of Ten Thousand Dollars ($l0 0OO.0 .0O)
shall be common stock, and the holders of the
preferred stock are entitled to cumulative div
idends thereon at the rate of, but nor exceed
ing ten per centum 40 per cent? per annum,
| payable out of any and all surplus or net prof
its, when declared by the Directors, and in ad-
ditlon thereto in the event of dissolution or
liquidation OF the corporation, the holders of
the preferred stock shall be entitled to receive
the par value of their preferred shares out of
| the assets of the corporation before anything
shall be paid therefrom to the holders Of the
common stock.
The preferred stock Shall be subject to re-
demption at the option OF the corporation on
| the 1st day Of January, 1909, or on the date OF
payment of any dividend prior thereto at the
| par value thereof for each share and the
amount of the dividend accumulated and un-
paid thereon at the date of redemption Sew
enty-fve per centum (75 per cent? of the net
earnings of the Company, less the amount re-
quired to pay the dividends of the preferred y
stock shall be set apart for the purpose of cre-
ating fund for the redemption of said stock,
and the remaining twenty-five per cent (25 per
cent?, less such amount as the Board of Direc.
tors shall set apart as reserve fund, Shall be
used for the purpose of paying dividends on
| said common stock.
] Fifth-The capital stock of this corporation
may be paid In at such time as its Board OF Di-
rectors may by resolution direct, and said cap
ital stock may be paid either in cash or by the
transfer to it for the purposes and uses herein
outlined of either real or personal property OF
any description whatsoever acceptable to it,
in satisfaction for which it may issue certiH-
Gates of shares of its capital stock, and the Is
suance of such certificates shall be full dis
charge for the transfer to it of such assets, and
said certificates shall be fully paid and non
assessable.
sixth-The time of commencement Of this
| corporation shall be the date of filing these ar
ticles of incorporation in the Office OF the
Auditor of the Territory of Arizona, and the
termination thereof shall be twenty-five (25)
years thereafter.
Seventh-The affairs of this corporation shall
be conducted by board of three directors, and
acknowledgement persons shall constitutethe
Board of Directors until their SUCCESSORS are
elected and qualified Edward Zeiger.J C .Hern.
don and T G Norris. Thereafter the Board of Di-
rectors shall be elected from among the stock
holders at the annual meeting of this Com
pany, which shall be held at the principal of.
fee of the Company at Prescott Arizona. on
the first Tuesday after the first Monday in May
of each year.
The officers of this corporation shall be q
President Vice President, Secretary and Treas.
urer and such other offices as the Board of Di-
rectors may fix, and until the first annual
meeting of the stockholders and until their
successors are elected and qualified the offcers
of this Company shall be: President, T. G.
Norris; Vice President, J. c.. Herndon; Secre-
tary, Edward Zeiger, and Treasurer, CONNER
cial Trust Company OF Prescott, Yavapai
county, Arizona.
The highest amount of Indebtedness or liza
bility, direct or contingent Tin addition to the
preferred shares), to which this corporation is
at any time subject, shall be Five Thousand
Dollars ($5OOOOO).
Ninth-The private property of the stock
holders of this corporation shall be exempt
from its corporate debts.
In witness whereof, we have hereunto set
our hands and seals this 2Sth day Of Novem-
ber 1903 EDWARD ZEIGER
T. G. NORRIS
J. C. HERNDON
TERRITORY OF ARIZONA, m
County of Yavapai. '"
Before me, C. W. Herndon, q Notary Public
in and for said County and Territory. this day
personally appeared the within named Edward
Zeiger, J. C. Herndon and T. G. Norris person
Ian To hn fl,o ynna