The border vidette. (Nogales, Ariz.) 1894-1934, 1923-07-28

corporations, az well as shares of it's
own capital stock. including the right
to vote thereon; to issue bonds and
other obligations, aud to secure the
same by'pledging or mortgaglng the
whole or any part Of the property own
I'd by the corporation, and to sell or
pledge such bonds in conducting the
! corporate business.
ARTICLE V
The amount OF the capital stock of
! the corporation is Twenty Five Thous.
and 1925 900 00) Dollars, divided into
Two Hundred Fifty (250) shares of the
par value of One Hundred (Sl00. 0O)
! Dollars each. The capital stock shall
| be issued at snch times as the Board of
Directors may decide upon. Said cap,
ital stock shall be paid into the treas.
ury OF the corporation, either in cash.
or by the sale and transfer to it of real
or personal property, contracts, SER
| vices, or any other valuable right or
| thing for the use and purposes of said
/ corporation, in paym for which
shares Of the capital stock Of the cor
| poratiOn may be issued, and the capital
stock SO issued shall thereupon and
! thereby become and be fully paid and
non -assessable forever, and. in the alb
| sence of actual fraud in the transac-
ton, the judgment of the Board of
Directors as to the value Of the proper.
| ty purchased shall be conclusive.
ARTICLE VI
| The time of the commencement of
| this corporation shall be at the date of
the filing OF certified copy of these
Articles OF Incorporation in the office
Of the Corporation Commission of Ari-
; 2Ona, and the termination thereof shall
be twenty FIVE (25) years thereafter,
with the privilege of renewal as pro.
vided by law
ARTICLE VII
The affairs of this corporation shall
be conducted by a Board of Directors
| composed of not less than three, nor
more than seven stockholders Said
directors shall be elected at the annual
meetings OF the stockholders and shall
serve for one year and until their sue.
cessors are elected aud qualified. The
annual meeting OF the. stockholders
shall be held at such place and hour az
may be prescribed by the bylaws of
the corporation on the fret Monday in
April of each year. Special meetings
may be held in such manner as may be
prescribed by the bylaws of the cor
poration. Until the first annual meet
ing, and until their successors are elect
ed and qualified, the following named
persons shall constitute the Board of
Directors
GUILLERMO MASCARENAS,
MARIANA PALAZUELOS,
L. b. FLEISCHER.
II at any time vacancy In the Board
OF Directors shall occur, such vacancy
may be filled by the remaining mem.
bers of the Board OF Directors IN Office,
and the person so elected to fill the
vacancy shall serve during the unex.
PRED term of his predecessor, and until
his successor is elected and qualified.
The powers and duties of the Board Of
Directors shall be as provided in the
bylaws OF the corporation. The Board
OF Directors shall have power to adopt
and amend the by laws of the corpora
ton.
ARTICLE VIII
The officers of this corporation shall
be President, Secretary and Treas
urer, and Manager. The office of
Secretary and Treasurer may be filed
| and held by the same person. The Of.
ficers shall be elected by the Board of
Directors Immediately after each an
nual meeting of the stock holders of the
corporation, and shall hold office for
one year. and until their successors are
elected and qualified. Additional of.
fees may be created by the stockhold-
ers, and filed by election or appoint
ment. as the bylaws may provide,
Until the first annual meeting of the
ST. hnl ho;
are elected and qualified, Guillermo
riano Palazuelos shall be Secretary and
Manager.
ARTICLE TX
The highest amount OF indebted ness
or liability. direct or contingent, to
which the corporation shall at any time
subject itself shall be Sixteen Thousand
Six Hundred Sixty.Six and Two Thirds
(Sl6, 666 3 Dollars.
ARTICLE X
The private property of the stock
holders of the corporation shall! be
forever exempt for corporate debts.
ARTICLE XII
At any annual meeting of the stock
holders, or at any special meeting of
the stockholders called for that pur-
pose, these Articles of Incorporation
may be amended by the affirmative
vote of a majority of the shares Of the
capital stock issued and outstanding
upon notice given as required by law.
ARTICLE XII
Leslie c. Hardy, who has been a re.
sident OF the State of Arizona for three
years last past. and who is now re-
sident of the city of Nogales, Arizona,
is hereby appointed the agent Of this
corporation. upon whom all legal no.
tees and processes, including service
of summons, may be served
In Witness Whereof. we have here.
10 nnk a. Liz AkI L.