Arizona republican., 1904-09-04


 said county have associated, and do hereby associate ourselves together | for the purpose of becoming incorpor- ated and forming a corporation under the general corporation laws of the territory of Arizona; and to that end do hereby make, adopt sign' and acknowledge these articles of incor- poration.
 ARTICLE I. The name of the incorporation is Appropriations Canal Company" The names of the incorporators are Lincoln Fowler, Patrick T. Hurley, Thomas | Armstrong, IT,, John P. Orme and w H. Wilky.
 | The principal place for the transac- tion of business of this corporation IS at Phoenix, Maricopa county, Arizona.
 ARTICLE II.
 The general nature of the business to be transacted by this corporat' 'n is that of acquiring, owning, leasing. possessing, and operating canals, dams, acquelucts, wells, pumps, res ervoi-s, water rights and appropria- tions, and any and all rights, fran chises, property and means for the di- version transportation, and ccnserva-
 
 milling and power purposes; to serve its shareholders, and other appropria tors with water for irrigation, stock, mining, milling and domestic purposes; to lease or sell any water power de- Veloped by its canals; to receive from other canals or reservoirs water for ir rigation, stock, power and domestic purposes, and carry and deliver the | same and enter into any or all nee. essary of convenient contracts with other persons or corporations or with | the United States or any agency or official thereof for such receipt, car riage and delivery.
 ARTICLE III. The amount of capital stock of this corporation shall be fifty thousand | ($5O,OOO) dollars, divided into fifty thousand shares of the value of one | dollar each.
 Stock shall be issued on subscrip- ton therefor by the owner of arable and irrigable lands which lie between the present line of the Grand canal and Salt river. in Maricopa county. ArizoEa; and then only to an amount. not exceeding one share for each acre owned by the subscriber and the shares shall be paid for in cash or in | labor or property equivalent to cash and shall not be issued until fully paid | for.
 Each certificate of stock shall be, and shall bear on it's face statement 1 that the same is, issued in connection with and entities the holder to the | carriage of water for irrigation, stock and domestic purposes from the canal | system of this corporation for a cer- | tain designated piece of land within | the limits specified in the preceding paragraph subject to the charges anl rules and regulations of the corpora ! tion; that such stock and such right | to the carriage of water are insepar- | ably attached and made appurtenanu | to said land and can not be sold, trans 1 ferred, pledged or assigned, except with said land, and in the hands of any other person than the owner Of said land is not entitled to a vote in the management of this corporation or to any of its rights or privileges pr ! dividends.
 l Any sale or other transfer of the title ! to the land to which said stock is so attached and made appurtenant shall { Carry said stock with it and it shall be thereupon transferred on the books of the company to the owner of the land to which il is attached.
 ARTICLE ".
 The time of the commencement Of this corporation shall be the date of 1 the filing of these articles for record in the office of the county recorder of Maricopa county. Arizona, and the fiI- ing of a certified copy thereof in the office of the auditor of the territory and it shall terminate twenty five years hereafter unless otherwise re- newed according to law.
 ARTICLE V.
 The affairs of this corporation are to be conducted by a board of directors consisting of five stockholders who | shall be elected annually on the first Monday of October, by the stockhold- CTS. The officers of this corporation shall be a president vice president, secretary and treasurer who shall be elected annually by the directors.
 Officers and directors shall hold of flee for one year from the date of their | election or until their successors are elected and qualified; except that per sons elected to fill an unexpired term shall hold only for the unexpired terms Persons ceasing to te stockholders shall cease to be officers or directors
 Until the first annual meeting of this | corporation the subscribers hereto shall constitue the board of directors of this | corporation.
 ARTICLE VI.
 The highest sum of indebtedness or liability to which this corporation shall at any time subject itself is the sum of S25.O
 Assessments for the needs of this corporation may he levied by the di- rectors not to exceed 10 cents per share in any one year; the stockhold- CTS may by a majority vote. levy fur ther assessments as may by them be deemed and required and the bylaws of the corporation shall provide means of collection of assessments and pen alties for failure to pay the same ] which, however, shall not expend be- yond forfeiture of stock.
 ARTICLE VII.
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