The Redwood gazette. [volume] (Redwood Falls, Minn.) 1873-1940, 1925-01-21
January 14th-21st.
Articles Of Incor-
poration
CERTIFICATE OF AMENDMENT
OF
ARTICLES OF INCORPORATION
OF PEOPLES LIGHT & POWER
COMPANY.

ARTICLES OF INCORPORATION
OF PEOPLES LIGHT & POWER
COMPANY.
We, H. H. Henley and c. w. Sails
bury, the President and Secretary
respectively of Peoples Light & Pow
er Company, corporation duly or
ganized and existing under the laws
Of the State of Minnesota, with its
principal place of business in the City
Of Minneapolis, Minnesota, do hereby
certify on oath that special meeting
CT the stockholders of said corpora
ton was duly held in the office of
said corporation in the City of Min
leapolis, Minnesota, on Friday, jan
uary End, 1925, at 10 o'clock A. M.
pursuant to a call and notice thereof
duly given in accordance with law
and the Bylaws of said corporation,
which notice expressly stated that the
purpose of said meeting was to vote
upon the Resolution hereinafter set
forth amending the Articles of In
corporation Of said corporation.
That at said meeting the owners OF
majority of the outstanding shares
of the common and preferred stock
# said corporation, were represented
either in person or by proxy and vot-
ed on said Resolution, and that at
said meeting the following Resolu-
ton was duly moved, seconded and
adopted by the unanimous vote of all
the stockholders present or repre-
scented at such meeting, the same be-
ing majority of the outstanding
shares of the common and preferred
stock of said corporation, which said
Resolution is as follows:
BE 1T RESOLVED by the stock
holders of Peoples Light & Power
Company, a Minnesota corporation,
in meeting duly assembled that the
Articles of Incorporation of this
Company be, and the same hereby
are, amended to read as follows:
ARTICLE /.
The name of the corporation IS
Peoples Light & Power Company.
The general nature of its business
shall be to purchase and generate
electrical energy and to transmit and
sell the same for light, heat and pow
electrical merchandise and do electric
al contracting and construction for it
self or for others, and to perform and
carry on any other business in the
operation of public utilities service;
t. acquire, own, improve, sell, lease
and convey real estate, power plants
and public utilities and all property
useful in connection herewith; to
borrow money and pledge and mort
gage its property, real and personal,
to secure the repayment thereof; to
execute and issue any and all kinds
of bonds, notes and other obligations
= evidence any indebtedness that it
may incur, and to transact any and
Ill other business incidental to, or
n any manner connected with, the
purposes hereinabove set forth; to
purchase stocks, bonds or other evil
dences of Indebtedness of other cor
porations engaged in similar bust
less; to endorse or guarantee the
bonds, notes OF other evidences of in
debtedness issued by other corpora
tons whenever this corporation shall
Re financially or otherwise interested
in such other corporations, or when
ever, in the opinion of the Board of
Directors, it shall be in the best in
terest of this Company.
The principal office and place of
business of the corporation is in the
City of Minneapolis, Minnesota.
ARTICLE II.
The time of commencement of said
corporation is the 18th day of April,
1916, and its period of cont ;Euance is
thirty 600 years.
ARTICLE III.
The amount of capital stock of the
corporation shall be One Million Dol
lars ($1 ,O00,O0O) and shall consist of
Ten Thousand 100000 shares of the
par value of One Hundred Dollars
$1,000 each. The same shall be is
sued and paid for in such manner, i'll
such amounts and at such times as
:ne Board of Directors shall deter
mine.
Of the capital stock Five Thou
sand (5000) shares of the par value
of Five Hundred Thousand Dollars
,$500,000) shall be common stock and
. Five Thousand (5000) shares of the
par value of Five Hundred Thousand
Dollars ($500,00O) shall be 7%o cumu-
lative nonvoting preferred stock.
The holders of the preferred stock
snail be entitled to receive from the
surplus or net profits of the corpora
ton yearly cumulative dividend OF
/ re, payable semi-annually on the
first days OF January and July il
each year, before any dividend shall
be paid on the common stock. Or
dissolution OF liquidation of the cor
poration, the holders of preferred
/ stock shall be entitled to receive the
full par value of their stock and al
unpaid dividends accumulated there
IN before any payment. shall be made
en- the common stock.
If on dissolution or liquidation o.
the corporation, the holders of pre-
ferred stock shall have received thu
FULL par value of their stock and al
unpaid dividends thereon, any pfopert!
remaining shall be distributed ratabl!
among the holders of the common
stock.
The holders of preferred stock shall
not be entitled to vote at any meet
ing of the stockholders of the cor
poration for any purpose whatsoever
but the holders of the common stool
clone shall be entitled to vote a
stockholders meetings.
Z The preferred stock or any par
thereof may, on any semi-annua
4 = L. l.