Arizona republican., 1904-09-02

| ltion 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' 'H 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 cOnserva- ton of water for irrigation, mining. milling and power purposes; 10 serve | it's 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 oy official thereof for such receipt, car riage and delivery.
 ARTICLE H. The amount of capital stock of this corporation shall be fifty thousand | ($5O,000) 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 araols and irrigable lands which lie between the present line of the Grand canal and Salt river. in Maricopa county. Arizora; 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 its face a statement
 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 anI rules and regulations of the corpora. tion; that such stock and such right to the carriage of water are insepar-
 
 to said land and can not be sold, trans ferred, pledged or assigned, except with said land, and in the hands Of any other person than the owner os said land is not entitled to q vote In the management of this corporation or to any of its rights or privileges os dividends.
 Any sale or other transfer of the title to the land to which said stock is sa attached and made appurtenant sbaii
 carry said stock with it and it shall b- ! thereupon transferred on the books oS the company to the owner of the lana
 to which it is attached. ARTICLE ".
 The time of the commencement os this corporation shall be the date Cf the filing of these articles for record in the office of the county recorder Of Maricopa county, Arizona, and the fil- | ing of a certified copy thereof in the office of the auditor Of the territory i and 1t 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 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 $25, ,oOO.
 Assessments for the needs of this | corporation may be 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 bs
 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. Private property of the stockhold- CTS of this corporation is exempt from | corporate debts.
 In witness whereof We have hereun-
 to set our hands and seals this fourth | day of August, 1904. | LINCOLN FOWLER PATRICK T. HURLEY, THOS. ARMSTRONG, Jr., JOHN r. ORME, | w. H. MILKY. | Territory of Arizona,
 ! County of Maricopa. ss
 On this 4th day of August. 1904, per
 sonally appeared before me Ada Irwin.