Williams news., 1921-12-30
cers as to the value thereof shall be conclusive.
 ARTICLE W.

ARTICLE W.
 The general nature of the business in which this corpor- ation shall engage is as follows, to-wit:
 To supply farmers, stockmen and others thereof with water, and to carry on the business of a water works company in all it's branches, to sink wells and shafts and to make, build and construct, lay down and main tain reservoirs, cisterns, dams, culverts, filter beds, main and other pipe lines and appliances and to execute and do any and all other work and things ne cessary or convenient for ob- taining storage, selling, deliv- ering, measuring and distribut- ing water or otherwise for the purposes of the Company; also to acquire, lease, handle, con- trol or sell letters patent and other inventions used in connec- ton with this Company of any kind or character and in con- nection herewith to borrow money and to execute notes, bonds, mortgages or deeds of trust, to secure the same, and to exercise towards all such bonds, notes and other se- curities and obligations any and all right, powers and pri- vileges of individual owners thereof, and in general to do | any and all things to the busi- | ness of storing, distributing and | using water in every manner and any and all other things necessary to the proper conduct of the affairs of said corporation as fully to all lntents and purposes as natur- al person might or could do.
 ARTICLE V.
 The affairs of this corporat- Board of not less than three (3) nor more than seven CD direc- 5ors, the directors, a President Vice President and a Secretary and Treasurer shall be elected oy and from among the stock holders on the first Monday in A April of each year. Until heir successors are elected and .ualified, the following named persons shall be the directors and officers of the company: I. L. Hutchinson, Director, Earnest Burrows, Director, M. '. Terrell, Director, $. c. Swan on, Director. r.. W. Mcclure, Director. M. F. Terrell, Presi- lent, s. c. Swanson, Vice Presi- lent, F. w Mcclure, Secretary, !. w. Mcclure, Treasurer.
 ARTICLE VI. The highest amount of liabil- ty that this corporation shall itself to at any one time hall not exceed two-thirds of ] he capital stock of this cOrpor- ( Ition.
 ARTICLE VII. This corporation is formed to l ndure twenty-five (25) years $ .fter it's Articles are duly exc I uted, but it's charter rights may f ,e renewed before it's charter f expires from time to time, for f periods not exceeding twenty i've (25) years at a time per s 
 ARTICLE VIII.
 The private property of the stockholders of this corporation ] hall be and is hereby made for i yer exempt from all liability or debts or obligations of this 2 f
 ARTICLE TX. 2 The capital stock of this cor oration shall be and is hereby . lade forever non-aSsessable by 2 his corporation for any pur- / oSe.
 ARTICLE x.
 This corporation does hereby F ppoint F. w. Mcclure of Flag taff, Arizona, who has been a ona fide resident of Arizona pr at least three years, to be it's awful agent in and for the | tate of Arizona, for and in be- alf of this company to accept nd acknowledge service of, F nd upon whom may be served Il necessary process or pro- k