The copper era., 1909-07-29
CERTIFICATE OF RESOLUTION
Amending Articles g. and : of the Articles of Incorporation of the Portal Irrigation and Improvement Company

Amending Articles g. and of the Articles of Incorporation of the Portal Irrigation and
 Improvement Company.
 We, the undersigned, c. O. Billingsley, Presi- dent, and c. N. Catlin, Secretary, of the Portal Irrigation and Improvement Company" A cor poration do hereby certify that on the 12;h day Of July, 1909, at D. m meeting of the stock holders of said corporation was duly held at the principal office of said corporation in the Town of Clifton, Graham County, Arizona pursuant to due notice to each of said stock holders; that at said meeting all of the capital stock of said corporation was represented by the stockholders, either in person or by proxy; that said stockholders meeting was called for the purpose of voting upon the question of amending Articles 8, 4 and of the Articles of Incorporation of the said Portal Irrigation and Improvement Company" that at said meeting the following resolutions were passed by a unanimous vote of the stockholders of said corporations:
 RESOLVED, That Articles 3, 4, and of the Articles of Incorporation of the Portal Irriga- tion and Improvement Company" which were recorded in the office of the county recorder of Graham County, Arizona, on May 2Oth, 1908, and copy thereof filed in the office of the Auditor of Arizona, be and the same is hereby amended to read as follows to-wit:
 3. That the capital stock of this company heretofore having been one hundred thousand shares of the par value of one dollar per share is hereby decreased to ninety (9O) shares of the par value of one hundred COO) dollars per share, to be sold and issued to subscribers and others under the direction of the Board of Directors, as the board may see fit, and when issued shall be fully paid and assessable and liable for all assessments levied thereon by CnfA hrnr fRr-NE in repair and for the purpose of raising funds to carry on the business of said corporation; that the shares Of stock Of any delinquent stockholder in this company may be sold to meet any assessment levied thereon, in such manner as said board may provide for such sale; that said board shall call in and cancel all issued stock and issue in lieu thereof such a number of de- creased shares of stock in this company as will equal Tn value such cancelled stock.
 4. The business of this corporation shall be conducted by Board of Directors consisting of Five stockholders who shall be elected an- nually by the stockholders on the first Monday of August of each year. said election to be held at the principal office named in these Articles, notice of time and place of such meeting to he given in such manner as the By Laws of this corporation shall designate Said directors to hold office for the term of one year from date of their election and until their sue ceSsorS shall have been elected and qualified. The following named persons shall constitute it's board of directors until its next regular election and until their successors shall have been elected and justified, viz: c. O. Billings ley; R; K. Webster, c. Catln, H. B. Burke and Wm Somers. Vacancies in the board of directors shall be filled by the remaining mem- bers of the board who shall elect persons to serve during the unexpired term. A majority of the members of the board shall constitute quorum and at any regularly called meeting at which quorum is present shall be deemed legal meeting and shall have the same author ity as full board.
 '. The stockholders of this corporation and theIr private property shall be exempt from all liability on account of the debts of the cOrpor- atiOn. except, that all stock issue or subscribed for, shall be liable, for the unpaid purchase price therefor, and for all assessment levied thereon by said board, and may be sold to meet such liabilities, the board may direct.
 C. O. BILLINGSLEY,
 Attest: President.
 c. N. CATLIN, Secretary.