Arizona republican. [volume] (Phoenix, Ariz.) 1890-1930, 1914-12-27

| out
The Board of Directors may, if that
shall appear to be for the best interest
OF the corporation, reduce the number
| of acres to be supplied by any unit of
the plant TO the number of acres which
! they may ultimately determine the said
i unit will adequately supply with wa
ter. No greater number of shares of
| the stock of that series shall be issued
| than the number of acres to be sup
piled by such unit.
| Before the commencement of the
| construction and installation of any
/ unit of the works contemplated hereby,
| the Board of Dire -als shall define the
! districts of LANDS ~t4hn which the
lands to be supplis& are situated.
| The certificates of the ownership of
! shares of stock Except Of the seven
; qualifying shares first above men
tioned) shall indicate on their face the
series of which they are a part and
| shall distinctly specify by proper de-
| sCription the lands to which the shares
| for which they are each issued are ap-
| purtenant.
| ht vi litt ipitdi otoNh VI e'-'''
| corporation except the seven shares
| above mentioned to be sold for CASH
shall DO 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 unit of said plant who shall val
| idly convey in fee simple without en-
| cumbrance of any kind, One-half OF
such lands to this corporation to be &C
| ceptable to the Board of Directors,
| shares if this corporation of the SER
les of shares which, under the provis-
| 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 or
| 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 il 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 he
|
lane 10 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 a sum in the
| aggregate greater than Ten Thousand
| $50. 000.00) Dollars, unless such i'm
provement, enlargement, extension bet
terment or replacement shall have beer
first authorized by the votes or assent
of the owners of at least two-thirds d
the stock then issued of the series o;
the unit upon which such Improvement
enlargement, extension. betterment oil
replacement shall have been received
Upon. to be ascertained and evidenced
in the manner to be prescribed by th'
Ply laws of the corporation.
ARTICLE VIII.
Y The revenue necessary for the cos
Of operation. maintenance and repair
| of the works of the corporation AM
other administrative expenses shall b
raised annually by the assessment o
the stock thereof against the shares o
the capital stock, and shall be whei
levied lien on the lands to which salt
shares ale apurtenant. Such cost shall
be apportioned and assessed as follows
The general administrative cost shal
be assessed equally against all tn
Esharcs OF the corporation stock thel
outstanding.
The actual operating, maintenance
, and repair cost of each unit shall b
levied equally against the share
/ T. 81
| tenant to the lands served or tina
JIG entitled to be served by such uni
/, Eand such assessment shall be a liel
, upon the lands to which such share
are appurtenant. The manner G
, lmaking such assessments, provide
for in this and the next precedin!
: Article, and enforcing the collection
Laws.
ARTICLE TX
II As an incident to the ownership o
/, each share of the several series o
the capital stock of this corporation
, and as evidence thereof. such shar
holder shall be entitled to have de
livered to him for the irrigation o
each acre of his land to which sucl
share is appurtenant. that proper
ton of all the water made availabl
for delivery to such acre of land tina
such acre bears to the whole numbe
of acres to which shares of this cor
lporation of that particular series arr
made appurtenant. all upon the sam'
, conditions and terms and subject t.
, the same rules and regulations.
L