The border vidette., 1925-12-26

| of the board of directors as to the value
of the services rendered or property
! purchased shall be conclusive.
ARTICLE vi ~
The time OF the commencement of
this corporation shall be the date of the
filing OF its articles with the Corpora
tion Com mission of the State OF Ari
zOna and the recording of same in the
Office OF the County Recorder Of Santa
Cruz County, Arizona, and the termi-
nHtiOn thereof shall be twenty live
years thereafter. with the right in the
corporation to renew it's charter for an
! additional period of twenty FIVE years
as now provided by law.
ARTICLE VII
| The management and conduct of the
| business, property and affairs OF the
corporation shall be vested in and con-
Quoted by Board OF Directors of not
less than three (3) nor more than seven
! ~ persons, and tll directors, except in
case Of vacancies, shall be elected at
the annual meeting of stock holders,
except the first board. which is chosen
| as in these articles hereinafter set
forth. The Board of Directors shall
have the right and power to increase
|
at any time. and to appoint or elect
such additional directors to serve until
the next annual stock holders meeting
The officers OF the company shall con-
sist of q President, Vice President
| Secretary and Treasurer. and such other
officers as the BOARD of Directors shall
deem expedienf, and all shall be elected
or appointed by the Board Of Direc-
tors. Any two or more Offices, the
+, duties OF the incum bent OF which are
not Inconsistent. may be held by the
same person. Both the officers and
directors shall hold their Offices for the
period OF one year from and after cleo.
| ton and qualification and until their
successors are elected and qualified,
unless removed by the board. The tli.
rectOrs shall have the right to fill any
vacancy occurring in the board by
death, resignation or otherwise, in
Guiding the right to fill such places as
may be created by an increase in the
number OF the board, and the person or
persons elected to fill any such vacancy
or vacancies, created through increas-
Ing the number of the board, shall hold
his Office until the next regular meeting
of stock holders.
ARTICLE VIII
The regular annual meeting of the
| stock holders shall be held at the prin-
cipal office Of the company on the seq
nnd Monday in January Of each year,
commencing with the year 1926.
ARTICLE TX
The incorporators shall name the per-
sons who shall constitute the first
Board of Directors and when SO select
ed by the incorporators said mem bers
OF the board shall serve until the first
annual stock hold ers' meeting and until
their successors are elected and Quail
flied.
| ARTICLE x
The Board of Directors shall have the
power to make and alter the bylaws of
the corporation; to fix the amount to
be reserved as working capital, and to
authorize and cause to be executed
mortgages, debentures and other oblip-
ations which shall be liens upon the
property and franchises of the corpora.
ton, and in general to exercise all tne
powers and authority Of the company
not expressly withheld from said board
by law, or by these Articles. of, Incor-
poration. or by the affirmative action
Of the stock holders.
ARTICLE XT
| The stockhold ers and members of this
corporation and their private property
shall be exempt from any liability for
the debts of this corporation.
ARTICLE XII
| With the consent of the holders of
two-thirds 81 in amount of the capital
stock of this company, issued and out
standing when evidenced in writing or
with the; consent OF majority in am
cunt OF the capital stock Of the COR
po:stion, issued and outstanding, when
expressed by resolution adopted at q
meeting OF the stock holders OF the
company duly called and held pur-
suant TO the bylaws. the directors
shall have authority to sell or other.
wise dispose OF in such manner as may
be- authorized, the entire property and
assets of the corporation.
ARTICLE XIII
The Indebtedness of this company
shall at no time exceed the sum of One
Million tSl, GOO. 600 00) Dollars.
ARTICLE XIV
Duane Bird, of Nog sles. Santa Cruz
county, Arizona, who has been bona
fide resident of the State of Arizona for
at least three (3) years, is hereby ap-
pointed the lawful agent OF this corpor-
alton for and on behalf of it, to accept
and acknowledge service, and upon
whom may be served all necessary pro-
cess in any action, suit or proceeding
that may be held or brought against
this corporation in any OF the Courts
of the State of Arizona, and for all
purposes required by law
IN WITNESS WHEREOF, we have
hel leunto set our hands this Goth day
! of October. A. D. 1925.
RICHARD o. .MEENTS
GRACE REED
ROLAND REED