St. Tammany farmer. [volume] (Covington, La.) 1874-current, 1911-02-18

they have covenanted and agreed,
and by these presents do covenant
and agree and bind themselves, as
we'll as such other persons as may
hereafter become associated with
them, to form and constitute a cor
poration and body polite in law, for
the stipulations, articles and condi-
tions, following, to-wit:
ARTICLE l.
The name and style Of this cor
poration shall be, the ST. TAM
MANY EXPERIMENTAL FARM
AND FAIR ASSOCIATION, and by
that name it shall have power and
authority to exist and enjoy success
sion for the full term of ninety-nine
years from date hereof, unless sooner
dissolved.
ARTICLE II.
The domicile of this corporation
shall be in the town of Covington,
in the parish of st. Tammany, State
of Louisiana. ALI citations and other
legal professions shall be served on
the president, or in his absence or
inability to act upon the vice-presi-
dent. The president shall be the
executive officer of the corporation,
and shall preside at the meetings
of the board of directors and stock
holders.
ARTICLE III.
The objects and purposes for
which this corporation is established
and the nature of the business to
be carried on by it are hereby de-
clared to be to operate and conduct
fair, to operate an experimental
farm, for the purpoce of demonstrat-
ing the agricultural posi- bilities of
the soil, the raising of live stock,
poultry, etc. T build an athletic
field, race course, ETC.; to advertise
and exploit the parish of St. Tam
many; to build suitable buildings for
club houses, stables, exhibition halls,
grand stands, refreshments stands,
ETC., to arrange for charge for ex-
hibits, entrance fees, acts and things
necessary for conducting a fair, and
for operating an experimental farm,
etc.
ARTICLE w
This corporation may sue or be
sued in it's corporate name, make
and use a corporate seal, the same
to break and alter at pleasure; hold,
have receive, purchase, convey, sell,
mortgage, hypothecate, pledge. lease,
suitcase, and enjoysreal personal or
mixed property; also bgorrow and
lend money and make contracts;
make and establish sucn bylaws,
rules and regulations as may be
necessary, and the some to change
and alter at pleasure; and shall
possess all the rights and privileges
to which corporations are, or may
be authorized and entitled to pos
sess. ii
ARTICLE v.
The capital of said corporation
shall be fifty thousand ($50, 0,0O0.Q0)
dollars, divided into and represented
by two thousand 10000 shares OF
the sum of twenty-five ($25.0O dol
lars each, which said stock shall be
paid for in cash at the time of sub
scription, or the same may be issued
at not less than par, in payment or
exchange for property or rights act.
ually received or purchased by said
corporation, or the same may be
issued, full paid, for money advanced
and for such other valuable consid-
Grafton or service, as the board OF
directors of said corporation may de-
termine, provided that not stock
shall issue until consideration there
for has been received by said cor
poration. Said shares of stock shall
be signed by the president and the
secretary. At all elections by, OF
meetings of, the stockholders, eacf
share of stock shall be entitled tt
one vote to be cast by the person II
whose name the stock appears OF
the books of the corporation, or b!
his agent or proxy, duly authorized
to that eect fin writing. This cor
poration to become going concern
as soon as the sum of five thousant
($5,OOO.O0) dollars is subscribed TO
and paid in.
ARTICLE vi.
| No stockholder shall have tn
authority or right to sell or other
| wise dispose of his stock in Who'll
or in part without first giving tn
board of directors fifteen (15) day
notice in writing of his intention o
desire to dispose of any Of his stoc
or part thereof, and allowing tn
board of directors, or in its default
any stockholder, the first opportunit
of purchasing the stock. After whic
fifteen (15) days the stock shall .
sold in open market. The stock {
said corporation may be transferre
under the above named condition.
provided such transf r. is made o
the books of said corporation at il
office at Covington, in the parish {
St. Tammany, State of Louisiana
and onthe surrender of the certif
cate therefor; the board of director
shall have the right to determin
how much stock shall be issued.
ARTICLE VII.
The business affairs and corporal
powers of this corporation shall I
transacted by a board of director
.. composed of twenty-five (25) stool
holders and the nine members
the police jury of the parish of S
, Tammany shall be ex-officio membe
of the board of directors by Writ
, of their office. The members OF II
: board of directors composed OF stoc
holders shall be elected by majo
ity of the votes cast at meetir
to be held for that purpose eat
year.
The board of directors SO electt
shall continue in Office for the perit
of one year, or until their successo
are elected, on which date and ther
after annually, an election for dire
tors shall be held at the Office of Il
corporation in the parish of st. Tai
many, State of Louisiana, aft
fifteen (15) days notice theret
shall have been given by publicati'
in a newspaper published in Il
parish of St. Tammany La, by t,
y publications during that time.
|, The following named persons sh;