Arizona republican., 1912-02-21

now in force or that may be here after enacted
 To remunerate the directors, offic- CTS. agents. appointees, employees and servants of this corporation for all services rendered or to be rendered; to remunerate any person, firm O. corporation for services rendered or to be rendered in selling, placing, un- derwriting, guaranteeing or dispOsing of any of the shares of stock, bonds. certificates, papers. or oth- CT securities or property of this cor pOration or in and about the fOrma- tiOn. organization, promotion, or con- duct of the business of the same.
 To d0 any and everything neces- sary. suitable, proper or eXpedient for the accomplishment of any or all of the purposes or the attainment of the objects hereinbefore enumerated. or which at anytime may be conduc- i've or eXpedient or advisable for the benefit or protection of this corpora tiOn; and in general to engage in and transact any and all kinds of lawful busiess. and tn make. perform and enforce any and all kinds of con- tracts whatsoever and to do and per- form any and all acts that a natural person or any firm. corporation. or association. might, could or would do or perform
 Any or all of the things. objects and purposes herein enumerated and authorized to be done shall be done and performed at such time or times and at such place or places within or without Arizona and upon such terms and conditions and for such compen- satiOn and in such manner as the Board of Directors shall, from time to time, determine and direct, and not otherwise.
 ARTICLE III
 The amount of the capital stock authorized of this corporation shall be Five Hundred Thousand $500 00000) Dollars. which shall be divid- ed into five thousand (J000) shares of the par value of One Hundred (s100.0d) Dollars each: and the same shall be fully paid in when issued either in cash or by the sale and transfer to the corporation Of real or | personal property. or by services rem deed, in payment for which shares of the capital stock of this corporation may be issued. and the judgment of the Board of Directors as to the value of such property. services or rights so acquired shall be conclusive; and all of said stock when so issued shall be | fully paid and forever -assessable. | Said capital stock shall be paid in and shall be issued at such times and upon such conditions as the Board of Directors shall determine and direct. Not exceeding two thousand (20O0) shares of said capital stock, amount | ing at par to Two Hundred ThOus- and (s200,O00.00) Dollars, may be con- sidered. made. created and designated as preferred stock, with such rights. privileges. preferences, restrictions and conditions attached thereto. as shall be fixed and determined by the Board of Directors. with the con- currence and consent of the owners of two-thirds of the then issued and outstanding general or common stock at the time such preference is so ere ated. all of said capital stock not so made and designated as preferred stock. shall remain common stock
 The preferred stock and the holders thereof shall have no voting power or privilege. but the common stock and the holders thereof shall have all the voting power and privilege. In the event of the liquidation or dissolution of the corporation. the surplus assets and funds thereof shall be applied in the first place to repaying to the holders of the afore- said issued preferred stock the full iamount of the principal and par value thereof and the accrued dividends, if any charged. before any amount shall be paid upon the common stock, and after such payment in full to the holders of said preferred shares. the surplus assets and funds shall be- long to and be divided among the holders of all the common or general shares of stock of said corporation.
 The right Is hereby reserved to the common stock and the holders there of to amend these Articles of In- lCcrpporatiOn by a majority vote of said common stock at any legally held stockholders meeting. and it is expressly provided and agreed that in the event the capital stock of this corporation shall hereafter be in- creased any part of said increased capital stock may be created desig- mated and made cumulative preferred stock to the same extent as the pre- ferrcd stock mentioned in this Ar ticle.
 ARTICLE "
 The time of the commencement Oi this corporation shall be the date oi the filing of these Articles of In corporation in the office of the Coun- ty Recorder of Maricopa County. Ari- zona. and a certified copy thereof ir the office of the Auditor of Arizona and the termination thereof shall bt twenty-five years thereafter but the same may be renewed and extended for like periods perpetually.
 ARTICLE V.
 The affairs of this corporation shal be conducted by a Board of Directors and such officers as said Board may elect and appoint. The Board of Di- rectors shall consist of not less thar three (3) nor more than nine (9) di- irectors, each of whom shall be g stockholder. Any director ceasing tC be a stockholder thereupon immedi- ately ceases to be a director. The number of directors shall be deter mined by the stockholders holding tho |