The Coconino sun., 1923-10-05
Page Fourteen

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ton or operations, enterprise or en-
terprises, either within or without the
State of Arizona, and to enter into,
make, perform and carry out contracts
of any and every kind for any lawful
purpose, without other than legal re-
striction or limit as to amount, with
any and all other persons, firms, assoc
Citations or corporations, or with any
government or governmental subdiv-
ision or body polite, whether foreign
or domestic, and whether now or here
after organized, and generally to deal
in any and all property, real, personal
and mixed, or any and every kind or
description, wheresoever situate.
(k) To apply for, obtain and ac-
quire by purchase or otherwise, either
by the payment Of money or by the
exchange of shares of stock or secur-
tiles Or evidences of indebtedness of
this corporation therefor, and to own,
hold, control, sell, assign, transfer,
or otherwise dispose of letters-patent
of the United States of America, and
of any other country or countries, IL
censes, concessions and grants, for or
in respect of inventions relating to any
and all products and articles which
may be the subject of letters patent, or
to manufacturing devices, appliances,
tools and machinery for the manufac-
ture and production of any and all
DR. rlducts and articles Of special or
general use in any industry or indus
fries, or ior general use and consunp-
ton. and to sell, lease, or otherwise
dispose of or deal with state, county,
city and town rights for the use of any
and all such letters-patent, licenses,
concessions, and grants aforesaid, and
generally to deal in such products
and articles aforesaid or any thereof.
Cd To borrow money for It's cor.
porate purposes; to make and issue
its bonds, debentures, promissory
notes, and other obligations, or either
or any thereof, as evidence of its in
debtedness so created; to issue shares
of its capital stock in payment for
property, real, personal or mixed, pur-
chased or acquired by it, or for any
other lawful object or purpose in and
about its business; to negotiate its
contracts for the sale by it of its bonds
or debentures, and any other lawful
contracts, for such consideration TO
this corporation and upon such law
full terms and conditions as In the
Judgment of its board of directors
may be expedient and for the best
interests of this corporation and its
stockholders; and to mortgages,
pledge or hypothecate all or any
part of its property, real, per-
sonal and mixed, wheresoever
situate, to secure its bonds, de-
bentures, promissory notes, con-
tracts and other obligations, or
either or any thereof, by it made, is
sued or incurred, whether as principal
or as such surety or guarantor afore-
said.
(m) To have and maintain, other
than and in addition to its aforesaid
principal office, one or more offices
for the transaction of its business,
whereat meetings of it's board of dir
rectors may be held, either within or
at any place or places without the
State of Arizona.
ARTICLE w.
(a) The total authorized capital
stock of this corporation shall be One
hundred thousand (100,000) dollars,
divided into one thousand 1,O0O)
shares of the par value of One hum
dred {100) dollars each, all common
stock; provided, that the amount Of
said capital stock may be increased
or decreased and may be issued in
such amounts as shall be determined
by the board of directors of this cor
poration, in accordance with and as
permitted by the laws of the State of
Arizona.
ARTICLE v.
(a) The shares of capital stock OF
this corporation may be issued for
cash or services or property, at such
time or times as its board of directors
may by resolution direct, upon such
conditions and terms as may be deter
mined by its board of directors, with
full power and discretion vested in its
board of directors to fix the value OF
the property or services in exchange
for which said shares of stock may be
issued, and in the absence of actual
fraud any such valuation so fixed shall
be conclusive. The board of directors
of this corporation may sell said
shares of stock or any thereof for
cash at such price or prices as said
board Of directors may from time to
time by resolution determine.
(b) All shares of stock in this
corporation shall be issued fully paid
and -assessable, and the certifi-
cate or certificates evidencing the
same shall so recite.
ARTICLE vi.
The time of the commencement OF
this corporation shall be the date Of
the filing of these articles Of incor-
poration in the office of the Corpora
tion Commission Of the State Of Arr
zona, and the recordation of q certi-
fled copy thereof in the offices of the
respective county recorders of the fol-
lowing counties in the State Of Ari-
zona: Coconino, and it shall terminate
twenty-five years thereafter, unless 1t
be renewed in the manner provided by
law.
ARTICLE VII.
(al The affairs Of this corporation
shall be conducted, governed and con-
troIled by board Of five (5) direc-
tors, which number of directors may
be either increased or reduced by res-
olution of the board of directors.
(b) Said board of directors shall be
elected at the annual meeting Of
stockholders of this corporation which