The news-herald., 1904-01-02
Articles of Incorporation of the
Martinez Water Company

~AA~A| =
That we, the undersigned, Edward Zeiger, ].
c. Herndon and T. G. Norris, of Yavapai coun-
| ty, Territory Of Arizona, do hereby associate
ourselves together for the purpose of forming
q corporation under the laws of the Territory
| of Arizona, and to that end do certify the fol-
| lowing:
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
tineE, 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, hypothecate 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, o con-
struct dams and reservoirs for storing flood
waters, to construct bitches, fumes, aqueducts
and pipe lines to convey and distribute water
to such place or places where it may be re-
quired.
(cJ To deal in real and personal property of
any kind or nature whatsoever.
(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 capitsl stock
of this corporation shall be Twenty Thousand
Dollars ($20000.00), divided into Twenty Thou
sand (2l000) shares of the par value of One
Dollar ($1,00) each, of which Ten Thousand
100000 shares of the par value of Ten Thou
sand Dollars ($10,0OO.00) shall be preferred
stock, and Ten Thousand 10000 shares of the
par value of Ten Thousand Dollars $4,000 COY
shall be common stock, and the holders of the
preferred stock are entitled to cumulative div
idends thereon at the rate of, but not exceed
ing ten per centum 40 per cent? per annum,
payable out OF any and all surplus or net prof
It's when declared by the Directors, and in ad-
dition 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 al 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
stock shall be set apart for the purpose of ere
ating a 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 resolutiond 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 certif-
Gates of shares of its capital stock and the is
suance of such certificates shall be a 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
shall n 10 nf
ticles of incorporation in the office OF the
Auditor of the Territory of Arizona, and the
termination thereof shall be twenty-five (20
years thereafter
Seventh-The affairs of this corporation shall
be conducted by board of three directors, and
thefollowingnamed 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
flee 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
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
are elected and qualified the officers
of this Company shall be: President, T. G.
Norris; Vice Presto ent, ]. G. 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 lin addition to the
preferred shares), to which this corporation is
at any time subject, shall he Five Thousand
Dollars (S5000.00).