Arizona republican., 1914-12-26

land to which such shares are appurte- 1 nant. But no such assessment for inn pavement enlargement, extension, 1 betterment, or replacement shall be , made in any one year for sum in the aggregate greater than Ten Thousand ! ($l0.000.00) Dollars, unless such inn provement, enlargement, extension, bet <, terment or replacement shall have been ! first authorized by the votes or assent 1 of the owners of at least two thirds of 1 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 i 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 aIe 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 i Laws.
 ARTICLE TX
 As an incident to the ownership of | each share of the several series of i the capital stock of this corporation, l and as evidence thereof. such share 7 holder shall be entitled to have de- , livered to him for the irrigation of | each acre of his land to which such 1 share is appurtenant, that propor ton of all the water made available , for delivery to such acre of land that ! such acre bears to the whole number i 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 q Board of Di- rectors to consist of seven members who shall be stockholders, and by 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. k. Detweiler, C. H. Ritter house, Wm. H. Renck, O. s. Stapley and Paul B. Beville. The Board may fill any vacancies in it's membership.
 After the expiration of the term Of office of the members of the Board of Directors above named, the term of office of members of the Board may be reduced by a Bylaw of the 
 The Board of Directors shall ap- point the President, the Vice-Presi- dent, the Secretary and the Trea- surer and fix their term of office. but not for term less than one year.
 The Board of Directors shall fill all vacancies in such offices as they occur from whatever cause.
 There shall be regular meetings or the Board of Directors on the first and third Tuesdays of each month at the office of the company at fhoe- nix. commencing at ten o'clock A. NJ, of those day and no notice need be given thereof to the members of the Board.
 There may be special meetings of the Board to be called as hldy pe provided in the Bylaws. There shall be regular meetings of the on the first Tuesday, of January of each year teXcept in the year 1915) and special meet ings thereof may be called as may be provided by the Bylaws.
 ARTICLE XL
 The date of the commencement ot the corporation shall be the date upon which a Certificate of lncor poration shall be delivered to it by the Corporation Commission of this State and shall endure for the period of twenty five years next hereafter. reserving the rights of renewal |, thereafter as prescribed by law.
 ARTICLE XII
 The highest amount of indebted !