The Coconino sun., 1923-09-28


try or Industries, or for general use
and consumption, 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.
(l) To borrow money for its cor
p0fate 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 it's
capital stock in payment for property,
real, personal or mixed, purchased or
acquired by it, or for any other law
full object or purpose in and about it's
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
expedient. and for the best interests
of this corporation and its stockhold-
efs; and to naoTtga pledge, or hy-
pothecate all or any part Of its prop
.erty, real, personal and mixed, where
Soever situate, to secure its bonds, de-
bentufes, pronissory notes. contracts,
and other obligations, or either or any
thereof, by lit made, issued or incur
red, whether as principal or as such.
surety or guarantor aforesaid.
(nl) To have and maintains other
than and in addition to its aforesaid
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. gs
ARTICLE w.
/ lal The total authorized capital
stock of this corporation shall be Two
hundred fifty thousand 250,OO0) dol-
lars, divided into two thousand five
hundred l2,500) 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 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 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 Of the property or services in
Exchange for which said shares OF
stock may be issued, and in the abb
sence of actual fraud any such valua-
tons 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 worcestershire, and the certificate
or certificates eyidencing the same
shall so Tecite.
ARTICLE VI.
| The time of the commencement Of
this corporation shall be the date of
I. the filing of these articles of incor-
poration in the office of the Corpora
ton Commission of the State of Ari-
zona, and the recordation of certi
fled copy thereof in the offices Of the
respective county recorders of the
following counties in the State Of
Arizona: Coconino, Yavapai and Mar
icopa, and it shall terminate twenty
five years thereafter, unless it be re-
newed in the manner provided by law.
ARTICLE VII.
(al The affairs of this corporation
shall be conducted. governed and con-
trolled by a 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
snail be held on the fifteenth (15th)
day of February in each year at 1:45
o'clock in the afternoon, and all di-
rectors shall serve until their success
sors, respectively are elected and
qualified.
icy Until the first annual meet
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, C. J. Bab-
bitt, Pifilomena 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
carlcy 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 this
corporation, and to alter and amend
the same, and to make all rules and
regulations expedient for tho manage
ment Of the affairs Of this corpora
ton.
(f) Any person who shall cease
TO be stockholder shall thereupon
cease to be director Of this corpora
tion.
ARTICLE VIII.
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