The Coconino sun., 1923-09-28
THE COCONINO SUN


cure its bonds, debentures, pronlls-
sorv notes. contracts and other obliga-
tions. or either or any thereof, by 1t
made, issued or incurred, whether as
principal or as such surety or guar
antor aforesaid.
(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 its board Of d.
rectors may be held, either within or
at any place or places without the
State of Arizona.
ARTICLE ".
(a) The total authorized capital
stock of this corporation shall be Fif-
ty thousand (50,000) dollars, divided
into five hundred (500l shares OF the
par value of One hundred (lOO) dol
| lars each, all common stock; provid-
ed, 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.
fa) 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, up
on such conditions and terms as may
be determined by its board OF dlrec-
tors, with full power and discretion
vested in its board Of directors to
fix the value of the property or ser
vices 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 con-
elusive. The board of directors OF
this corporation may sell said shares
of stock or any thereof for cash al
such price or prices as said board Of
directors may from time to time by
resolution determine.
(b) All shares of stock of this
corporation shall be issued fully paic
and non n-assessable, and the certifi-
cate or certificates evidenclng the
same shall so recite.
ARTICLE vi
The time of the commencement OF
this corporation shall be the date ol
| the filing of these articles of inco1.
poration in the office of the Corpora
ton Commission of the State Of Ar,
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, and it shall ter
inmate twenty-five years thereafter
| unless it be renewed in the mannel
provided by law.
ARTICLE VII.
/ cal 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 oi
stockholders Of this corporation, which
shall be held on the fifteenth (15th)
| day of February in each year at 9:0(
o'clock in the forenoon, and all di-
| rectors shall serve until their success
sors respectively are elected ant
qualified.
(c) 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: H. w. Smith, d. Babbitt
| G. J. Babbitt, VIM. Babbitt and r. G
| Babbitt.
(d) The board of directors of this
corporation shall have power to FIJI
any vacancy or vacancies occurring j
| the board, and also to fill any va
cancy or vacancies occurring among
the officers of the corporation.
(e) Said board Of directors shal
have full power to establish and adop
| bylaws for the government of thil
| corporation, and to alter and amend
| the same, and to make all rules ant
| regulations expedient for the manage
ment of the affairs of this corpora
tion.
| ~ ANY person who shall cease X
be a stockholder shall thereupoI
cease to be director of this cor
/ poration.
i ARTICLE VIII.
la) The officers Of this corpora
tion shall be a president, vice-presi
/ dent, secretary and treasurer, am
] they shall be elected respectively b.
4 the board of directors from among
i the stockholders Immediately afte
i the annual meeting Of the stockhold
i ers, and such officers shall hold Of
A flee for one (D year or until thei
successors respectively are electe,
i and qualified.
4 (b) Until the first annual meeting
i of the board Of directors, the director
4 named herein shall elect the officer
| of this corporation.
4 (c) The offices of secretary am
i treasurer of this corporation may b
j held by one and the same person, i
so ordered by the board of directors
ARTICLE TX.
| The highest amount of Indebtedness
or liability, direct or contingent, +
4 which this corporation shall be sub
! ject at any one time shall be Thirty
three thousand three hundred thirty
/. three and 34-1O0 (33,333.34) dollars
Il ARTICLE X.
i; The names, residences and post Of
/ flee addresses Of the incorporation
II are:
Il H. w. Smith, Leupp, Arizona.
Il d. Babbitt, Flagstaff, Arizona.
II G. j. Babbitt, Flagstaff, Arizona.
i VIM. Babbitt, Flagstaff, Arizona.