The Coconino sun., 1923-09-21

I
cure its bonds, debentures, pronils-
sorg notes, contracts and other o2lAg@
tions, or either or any thereof, BIT Il
made, issued or incurred whether as
4 principal 81, as such surety or guar
4 antor aforesaid.
(m) 10 have and maintain, ot ther
than and IN addition to it's aforesaid
principal Office, one or more cfflces
for the transaction Of lts baslrasas,
! whereat meetings of lbs board oil dl-
/ rectors may be held, either within or
at any place or places without the.
4 State Of Arizona.
ARTICLE TV.
(a) The tota. authorized capital
stock Of this corporation shall be I7if-
1 ty thousand (50,000) dollars, divided
4 into five hundred t500) shares of the
par value Of One hnndred (190) Slol-
lars each, all common stock; proSid-
i ed, that the amount Of said capital
stock may be increased or decFeased
and may be issued III such AMOUNTS
as shall be determined by the beard
| Of directors of this corporation, i'll
accordance with and ais permitted by
4 the laws Of the State of Arizona.
ARTICLE M
(a) The shares of capital stocls
4 Of this corporation may be issued
\ for cash or services or property, al
such time or times as it's board of
4 directors may BIZ resolution direct, up
on such conditions and ferns as may
be determined BY It's BEARD OF diiec
tors, with full power and discretion
vested in its board of directors to
fix the value Of the property or Her
i vices in exchange f0r which sald
shares OF stock RAY be issued, 'and
in the absence Of actual fraud lsny
such valuation so fixed shall be don
elusive. Tire board of directors ef
this corporation nav sell said shares
of stock az anv thereof FOR cash att
a such price or prices an said board of
\ directors may from time ID time by
resolution determines.
CD All shares of stock Of This
corporation shall be issued fully raid
4 and non-assess able, and the ceriifi-
cate en- certificates eyidencing the
same shall SO reeits-
ARTICLE VI
i The time of the commencement 81
this corporation Shall be the date of
the filing Of these articles of insio4,
porati0n in the office &c The Corpaga-
i ton Commission Of The State oE lkfi-
z0na, and the recaNaatien Of q cd ti~
fled copy thereof ii Ghe offices of the
respective cuunty recorders of the
4 following counties i'll tho State DC
l Arizona: Coeenino, and il shall iler-
inmate twenty five yeais thereafter,
| unless il be renewed In the manner
provided by law.
ARTICLE VII
(a) The affairs 0f this corporation
shall be conducted, governed and dom
trolled by board Of five 90 diisrc-
tors, which number OF directors inay
j be either increased Of reduced by res
olution OF the beard OF directors.
/ (b1 Said board Of directors saall
be elected at tie annual meeting Of
stockholders Of this corporation, Wlicl
shall be held on the fifteenth lf5thl
4 day Of February IN each year at 9 100
4 o'clock ia tho forenoon, ard ali di-
rectors shall serve until their sucse
sors respectively are elected bad
qualified
4 (c) Until the first anHual na-et-
n ing Of st0ckhUIdeI and until tlleir
successors are elected and qualified,
The following named persons shall
j compose the board Of directors OF Ibis
4 corporation: II. w. Smith, ID. Ba5lltt,
i G. J Rabbit, WIa. Babbitt and III G.
Rabbit
4 cd The board Of direeters of This
corporation shall have power to FIJI
4 any vacancy or vacancies occurring in
the board, and also to flll any va
cancy or vacancies occurring agliong
the officers Of the corporation.
i (e) Said board Of directors shall
have full power 10 establish and adopt
a by-laws for the government of this
, corporation, and t0 alter and amend
the same, and to make all rules and
!. regulations e1padient foT the faanitge-
4 ment of the affairs Of this CORPORA
tion.
4 (f) Any person whc shall cease To
be q stockholder shall theraapon
cease to be a director Of this cor
ARTICLE VII.
(a3 The ofIieers Of this CORPORA
Z tien shall be president, viee-piesi-
II dent, secretary and treasurer and
they shall be elected respectively by
Il the board Of directors from anong
the annual meeting of The stocishold-
+ ers, and such officers shall hold Of
I fise fer one a. year on until their
successors res pectiveiy are elacteJ
\ and qualified.
!, (b) Until the first annual meeting
/ Of the board Of directors, the directors
! named herein shall elect the Officers
Of this corporation.
y (c) The offices Of secretary and
r treasurer of this corporation may be
3 held by one and the same persoli, If
: so ordered by the board Of directors.
f ARTICLE TX.
/, The HIGHEST amount Of indebtedness
I or liability, direct or contingent, to
+ which this corporation shall be sub
f iect at any one time shall be Thirty
Z three thousand three hundred thirty
II three and 34-100 f3S,393.3A9 dollars
ol ARTICLE K
4 The names, residences and posi-, Oft
\ flee addresses of the incorp0rators
]. are:
i III. W Smith, Leupp, Arizona.
I'll ID. Babbitt, Flagstaff, Arizona.
i g. ]. Babbitt, F'lagt aff, Arizoaia.