Arizona republican. [volume] (Phoenix, Ariz.) 1890-1930, 1915-01-01

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-
cumbrance of any kind one half of
such lands to this corporation to be ae-
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 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 q sum in the
!, aggregate greater than Ten Thousand
: ($10.00000) Dollars, unless such i'm
provement, enlargement. extension. bet.
| terment or replacement shall have beer
:, first authorized by the votes or assen,
of the owners of at least two thirds 81
the stock then issued of the series OF
:, the unit upon which such improvement
enlargement, extension, betterment OF
replacement shall have been received
Upon to be ascertained and evidenced
in the manner to be prescribed by thu
bylaws of the corporation.
ARTICLE VIII
- The revenue necessary for the cos
Of operation. maintenance and repair!
of the works of the corporation ant
" other administrative expenses shall b,
v raised annually by the assessment o
- the stock thereof against the shares o
- the capital stock. and shall be WheI
levied. a lien on the lands to which salt
shares are apurtenant. Such cost shall
be apportioned and assessed as follows
The general administrative cost shall
II be assessed equally against all tn
- shares of the corporation stock thel
II outstanding
e The actual operating, maintenance
u and repair cost of each unit shall b.
:, levied equally against the share
then outstanding of the series appur
tenant to the lands served or tina
is entitled to be served by such uni
y and such assessment shall be liel
upon the lands to which such share
- are appurtenant. The manner o
=, making such assessments, provide,
for in this and the next precedin:
- Article and enforcing the collection
thereof shall be prescribed by the By
&c Laws.
ARTICLE TX
el AS an incident to the ownership O
=. each share of the several series O
X. the capital stock of this corporation
:, and as evidence thereof such shar
n holder shall be entitled to have de
livered to him for the irrigation o
h each acre of his land to which sucl
share is appurtenant. that proper
N ton of all the water made available
! for delivery to such acre of land tina
# such acre bears to the whole numbe
~ of acres to which shares of this cor
# poration of that particular series ar
"a made appurtenant, all upon the sam
10 conditions and terms and subject t,
10 the same rules and regulations.
10 ARTICLE X
The affairs of this corporation ar
N to be conducted by a Board of Di
70 rectors to consist of seven member
,e who shall be stockholders, and by
" President, president, Secretar
l. and Treasurer.
Of The duties and powers Of the Pre-
in sident. Vice-president. Secretary an,
) treasurer shall be those usually in
l. cident to such office. and such othe
I'd as the Board of Directors may b.
II Bylaws impose.
,e The first Board Of Directors shall
serve for the term of five years from
II the date hereof, and and shall b
\ composed of John Schrock. Eugen
n Kelly, J. r. Detweiler, C. Fl. Ritter
70 house. VIM. II. Renck, o. S. Staple
10 and Paul B. Beville. The Board ma
it fill any vacancies in its membership
J. After the expiration of the term @
to office of the members of the Boar
in of Directors above named, the tern