The Coconino sun., 1923-09-21

state, county, city and. town rights
for the use of any and all such let
ters-patent, licenses, concessions, and
grants aforesaid, and generally to
deal in such products and articles
aforesaid or any thereof.
() SO borrow money for its COR
porate purposes; 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, purchas-
ed or acquired by it, or for
any other lawful object or pur-
pose in and about its business;
to negotiate its contracts for the sale
by it of it's bonds or debentures, and
any other lawful contracts, for such
consideration to this corporation and
upon such lawful terms and conditions
as in the judgment of its board of di-
rectors may be expedient and for the
best interests of this corporation and
its stockholders; and to mortgage,
pledge, or hypothecate all or any part
of its property, real, personal and
mixed, wheresoever situate, to secure
its bonds, debentufes, prornissory
notes, contracts, and other obligations,
or either or any thereof, by it made,
issued or incurred, whether as prin-
i cipal or as such surety or guarantor
aforesaid.
i (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 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 of-sthis corporation shall be Fif-
ty thousand (50,000) dollars, divided
into five hundred (500) shares of the
+ par value of One Hundred (100) dol
lars 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
s, shall be determined by the board of
directors of this corporation, in ac-
Il cordance with and as permitted by
the laws of the State Of Arizona.
ARTICLE v.
4 (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 de-
termined 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 alb
II sence of actual fraud any such val
uation SO fixed shall be conclusive
The board of directors of this corpor-
alton NAV sell said shares of stock OF
any thereof for cash at such price OF
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 certifi-
cate or certificates evidencing the
same shall so recite.
ARTICLE vi.
The time of the commencement oi
this corporation shall be the date OF
, the filing Of these articles of incof-
poration in the office of the Corpora
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 tht
following counties in the State Of Ari.
zona: Coconino and Apache, and i
shall terminate twenty-five years
; thereafter, unless it be renewed il
the manner provided by law.
! ARTICLE VII.
!, (a) The affairs Of this corporation
!, shall be conducted, governed and con
7 trolIed 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.
E (b) Said board of directors shall be
elected at the annual meeting q
: stockholders of this corporation which
i shall be held on the fifteenth (15th,
5 day of February in each year at 10:0s
S o'clock in the forenoon, and all di
{ rectors shall serve until their success
sors respectively are elected and quail
r flied.
!, (c) Until the first annual meeting
) of stockholders, and until their sue
!, cessors are elected and qualified, th'
: following named persons shall com
S pose the board Of directors Of thii
' corporation:
E David Babbitt, r. G. Babbitt, C. ]
|, Babbitt, Herbert Babbitt and VIM
& Babbitt.
/, (d) The board Of directors Of thi
: corporation shall have power to fill
: any vacancy or vacancies occurring il
: the board, and also to fill any yacanc.
or vacancies occurring among the Of
9 ficers Of the corporation.
: (e) Said board of directors shal
Y have full power to establish and adop
J, by laws for the government Of thi
: corporation, and to alter and amen,
r the same, and to make all rules ant
Y regulations expedient for the manage
a ment Of the affairs of this corporation
: (f) Any person who shall cease t,
be a stocIxholder shall thereupon ceas
: to be director of this corporation.
: ARTICLE VIII.
e (a) The officers Of this corporation
J, shall be president, Weep president
! secretary and treasurer, and they shall
y be elected respectively by the board o
I directors from among the stockholder
{. Immediately after the annual meetin,