The Coconino sun., 1923-10-05


try or industries, or for general use
and consumption, and to sell, lease
or otherwise dispose of or deal will
state, county, city and town rights fos
the use of any and all such letters.
patent, licenses, concessions, anC
grants aforesaid, and generally tc
deal in such products and articles
aforesaid or any thereof.
% To borrow money for its cor
Sorate puposes; to make and issue its
bonds, debentures, promissory notes
and other obligations, or either or any
thereof, as evidence of its indebted
ness so created; to issue shares Of its
capital stock in payment for property
real, personal or mixed, purchased OF
acquired by it, or for any other law
full object or purpose in and about its
business; to negotiate its contracts
for the sale by it of its bonds or de
bentures, and any other lawful con
tracts, for such consideration to this
corporation and upon such lawful
terms and conditions as in the judg-
ment of its board of directors may be
expediert and for the best interests
of this corporation and its stockhold-
ers; and to mortgage, pledge, or hy-
pothecate all or any part of its prop
erty, real, personal and mixed, where
soever situate, to secure its bonds, de-
bentures, profnissory notes, contracts,
and other obligations, or either or any
thereof, by it made, issued or incur
red, whether as principal or as such
surety or guarantor aforesaid.
(m) To have and maintain, other
than and in addition TO its afore said
principal office, one or more offices
| for the transaction of its business.
whereat meetings of its board Of di-
rectors may be held, either within or
at any place or places without the
State of Arizona.
ARTICLE ".
(a) The total authorized capital
stock f;this corporation shall be Two
hundred fifty thousand (250,000) dol
lars, divided into two thousand five
hundred (2,500) shares of the par
value OF One hundred (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 corporation, in accordance with
and as permitted by the laws of the
State Of ARIZONA.
ARTICLE ".
| (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 direc-
:, tors may by resolution direct, upon
such conditions and terms as may be
| determined by its board of directors,
with full power and discretion vested
| in its board of directors to fix the
| value eff the property or services in
/ exchange for which said shares of
stock may be issued, and in the ab-
sence of actual fraud any such valua-
tions 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 de-
termine.
(b) All shares OF stock Of this
corporation shall be issued fully paid
and n-assessable, and the certificate
or certificates evidencing the same
\ shall so recite.
AhIILIE 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
4 ton Commission of the State of Ari-
zona. and the recordation of a certi-
fled copy thereof in the offices of the
| respective county recorders of the
following counties in the State ot
Arizona: Coconino, Yavapai and Mar
i Iicopa, and it shall terminate twenty
five years thereafter, unless it be re-
newed in the manner provided by law.
ARTICLE VII.
(a) The affairs of this corporation
shall be conducted, governed and con-
trolled by a board of five 90 direc-
| tors. which number of directors may
| be either increased or reduced by res
olution Of the board Of directors. 7.
| (b) Said board of directors shall
be elected at the annual meeting q
! stockholders of this corporation when
shall be held on the fifteenth (15thl
| day of February in each year at :45
o'clock in the afternoon, and all di-
/ rectors eLsaI serve until their success
sors respectively are elected ane
qualified.
(cl Until the first annual meet
i ing of stockholders, and until their
successors are elected and qualified!
| the following named persons shall
compose the board Of directors of this
corporation:
| L. Charlebois, D. Babbitt, G. j. Bah
Ibitt, Philomena Babbitt and VIM. Bah
bitt.
{d) The board Of directors Of this
corporation shall have power to fill
any vacancy or vacancies occurring in
the board, and also to fill any va
cancy or vacancies occurring among
the officers Of the corporation. ],
| (e) Said board of directors shall
| have full power to establish and adopt
/ bylaws for the government Of thls:
corporation, and to alter and amend
! the same, and to make all rules arlo
regulations expedient for the manage
! ment of the affairs of this corpora
tion.
! (f) Any person who shall cease
to be a stockhoIder shall thereupon
cease to be a director Of this corpora
! ton.
ARTICLE VIII.
(a) The officers of this corpora