Arizona republican. [volume] (Phoenix, Ariz.) 1890-1930, 1914-12-31

scription the lands to which the shares
for which they are each issued are ap-
purtenant.
The shares of the capital stock of this
corporation Except the seven shares
above mentioned to be sold for CASH
shall be subscribed for, sold, paid for
and issued in the manner as follows:
To any owner of land situated in any
of said districts of land to be supplied
by a unit of said plant who shall val
idly convey in fee simple without en-
cumhrance of any kind, one-half of
such lands to this corporation to be ac-
ceptable to the Board of Directors,
shares if this corporation of the SER
les of shares which. under the provfs-
ions of these articles would be appur-
tenant thereto, equal to the number of
acres so conveyed by him to the cor
poratiOn shall be issued as fully paid
up. The other half of the shares of
said stock shall be retained by the
company and made appurtenant to the
lands So conveyed to it. and shall be is
sued to the purchaser or purchasers
from the corporation of such lands as
fully paid Up.
ARTICLE VI.
Subscriptions to the capital stock of
this corporation shall be in writing,
signed and acknowledged by the sub
scriber and his wife or her husband as
the case may be, if he or she be mar
ried, in such form as to pledge the land
to which the shares subscribed for are
made appurtenant, to the payment of
all assessments that may be made
against the same and subject to all
other conditions contained in these
Articles and the Bylaws of the corpo-
ration.
The form of such subscription con-
tract shall be prescribed by the Board
of Directors and may be changed from
time to time as it may be thought
proper.
ARTICLE VII.
For the purpose of raising revenue
for the improvement, enlargement, bet
terment or replacement of the works
that may have been constructed or in
stalled in any unit of the plant con-
structed as contemplated by these Art
icles of incorporation. the cost thereof
may be assessed in equal proportions
against all the shares of the stock is
sued in that particular series, and the
amount thereof shall be a lien on the
land to which such shares are appurte-
nant. But no such assessment for i'm
provement, enlargement, extension,
betterment. or replacement shall be
made in any one year for sum in the
aggregate greater than Ten Thousand
0,OOO.OO) Dollars, unless such i'm
provement, enlargement, extension, bet.
terment or replacement shall have been
first authorized by the votes or assent
of the owners of at least two-thirds Of
the stock then issued of the series of
the unit upon which such improvement,
enlargement, extension, betterment or
replacement shall have been received
upon. to be ascertained and evidenced
in the manner to be prescribed by the
bylaws of the corporation.
ARTICLE VIII.
The revenue necessary for the cost
OF operation, maintenance and repairs
of the works of the corporation and
other administrative expenses shall be
raised annually by the assessment of
the stock thereof against the shares of
the capital stock, and shall be when
levied, lien on the lands to which said
shares are apurtenant Such cost shall
be apportioned and assessed as follows.
The general administrative cost shall
be assessed equally against all the
shares of the corporation stock then
outstanding.
The actual operating. maintenance
and repair cost of each unit shall be
levied equally against the shares
then outstanding of the series appur
tenant to the lands served or that
is entitled to be served by such unit
and such assessment shall be a lien
upon the lands to which such shares
are appurtenant. The manner of
making such assessments, provided
for in this and the next preceding
Article, and enforcing the collection
thereof shall be prescribed by the By
Laws.
ARTICLE TX
AS an incident to the ownership of
each share of the several series of
the capital stock of this corporation.
and as evidence thereof, such share
holder shall be entitled to have de-
Hvered to him for the irrigation of
each acre of his land to which such
share is appurtenant. that proper
ton of all the water made available
for delivery to such acre of land that
such acre bears to the whole number
of acres to which shares of this cor
poration of that particular series are
made appurtenant, all upon the same
conditions and terms and subject to
the same rules and regulations.
ARTICLE X
The affairs of this corporation are
to be conducted by a Board of Di-
rectors to consist of seven members
who shall be stockholders, anG by a
President, Vice president, Secretary
and Treasurer
The duties and powers Of the Pre-
sident Vice president, Secretary and
treasurer shall be those usually in
| cident to such office, and such other
as the Board of Directors may by
Bylaws impose.
The first Board of Directors shall
serve for the term of five years from
the date hereof, and and shall be
composed of John Schrock, Eugene
Kelly, J. r. Detweiler, C. H. Ritter
house, VIM. H. Renck, o. S. Stapley
and Paul B. Beville The Board may
fill any vacancies in its membership
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