Williams news., 1921-12-23
cers as to the value thereof shall be conclusive.
 ARTICLE ".

IlS lloCu4 v o4 IAAS 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, n1ortga geS, 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 whatsoever, and any and all other things necessary to the proper conduct of the affairs of said corporation as fully to all intents and purposes as natur- al person might or could do.
 ARTICLE V.
 The affairs of this corporat- ion shall be conducted by Board of not less than three (3) nor more than seven CD direc- tors, the directors, a President Vice President and a Secretary and Treasurer shall be elected by and from among the stock holders on the first Monday in April of each year. Until their successors are elected and qualified, the following named persons shall be the directors and officers of the company: H. l.. Hutchinson, Director, Earnest Burrows, Director, M. F. Terrell, Director. s. C.. Swan son, Director, F. W. Mcclure, Director M. F. Terrell, Presi- dent, s. c. Swanson, Vice Presi- dent, F. w. Mcclure, Secretary, F. w. Mcclure, Treasurer.
 ARTICLE VI.
 The highest amount of liabil- ity that this corporation shall itself to at any one time shall not exceed two-thirds of the capital stock of this corpor- ation.
 ARTICLE VII.
 This corporation is formed to | endure twenty-five (25) years after it's Articles are duly exc cuted, but it's charter rights may l be renewed before it's charter | expires from time to time, for periods not exceeding twenty i five (25) years at time per petually.
 ARTICLE VIII.
 The private property of the i of this corporation shall be and is hereby made for ever exempt from all liability i for debts or obligations of this corporation.
 ARTICLE TX.
 The capital stock of this cor poration shall be and is hereby made forever non-assessable by this corporation for any pur- pose.
 ARTICLE X.
 This corporation does hereby F. w. Mcclure of Flag staff, Arizona, who has been a bona fide resident of Arizona for at least three years, to be it's lawful agent in and for the State of Arizona, for and in be- half of this company to accept and acknowledge service of, and upon whom may be served all necessary process or pro- cesses in any action, suit or pro- ceeding that may be had or brought against the corporation