The Coconino sun., 1923-11-02


, lful 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
Z terms and conditions as in the iudg-
ment of its board of directors may be
expedient and for the best interests
of this corporation and its stockhold-
1 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, promissory notes, contracts,
| and other obligations, or either or any
thereof, BY 1t 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 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 w.
(a) The total authorized capital
stock of this corporation shall be One
hundred fifty thousand (150,000l doll
lars, divided into one thousand
five hundred (1,500) 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 III
afcs aol In I,o{<. y
by the board of directors of this COR
poration, 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 ii
exchange for which said shares OF
stock may be issued, and in the alb
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 worcestershire, and the certificate
or certificates evidencing the same
shall so recite.
ARTICLE 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
ton Commission of the State Of Ari-
zona, and the recordation of certi- |
fled copy thereof in the offices of thei
respective county recorders of thel
following counties in the State of !
Arizona: Coconino, Yavapai and Mari |
copa, and it shall terminate twenty I
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-
tors, which nunber 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
of this corporation which
shall be held on the fifteenth (15th) 1
lay of February in each year at 12:45
o'clock in the afternoon, and all di-
rectors shall serve until their success
sors respectively are elected anc
qualified.
(c) Until the first annual meet
ing of stockholders, and until their
are elected and qualified
Lhe following named persons shall
compose the board Of directors Of this
Fred Purcell, c. ]. Babbitt and r.
}. Babbitt.
(d) The board of directors of this
shall have power to fill
my vacancy or vacancies occurring in
he board, and also to fill any va
,ancy or vacancies occurring among
he officers of the corporation.
(e) Said board of directors shall
lave full power to establish and adopt
'y-laWs for the government of this
corporation, and to alter and amend
he same, and to make ali rules and
expedient for the manage
nent of the affairs of this corpora
ion. {
(f) Any person who shall cease
0 be a stockholder shall thereupon I
ease to be a director of this corpora. 0
ion. :
ARTICLE VIII. III
(a) The officers Of this corpora e
on shall be a president, vice-presi- '
ent, secretary and treasurer, and Y
1ey shall be elected respectively by t
le board of directors from among t
ne stockholders Immediately after t
1e annual meeting of the stockhold-
rs and such officers shall hold office s
Or one (1) year or until their success 3
ors respectively are elected and D
lalified :
0b) Until the first annual meeting i
{ the board Of directors. the directors q
amed herein shall elect the officers O.
this corporation. n
(c) The offices of secretary and a
ea-urer Of this corporation may be 3,
sld by one and the same person, if NJ
ordered hv tha hoard of diracfnre ~