The border vidette., 1926-03-13


formation or promotion OF the COM
pany, or the conduct of its business, all
upon such terms as the board of direc-
tors may approve.
I'D To make any and all contracts,
acquire and transfer any and all species
OF property, and to possess the same
powers In such respects rs private in
dividuals now enjoy, and in general to
do all things necessary or convenient to
the proper conduct of the business of
the corporation in the State OF Arizona
and elsewhere, not inconsistent with
the laws of the United States and OF
the State OF Arizona.
ARTICLE v
The authorized amount OF tie capital
stock of this corporation shall be One
Million Five Hundred Thousand ISL,
500, 600 00) Dollars, divided into one
million five hundred thousand (3l .5' o.
OO0) shares of the par value OF One
Isl 00) Dollar each Upon subscription
therefor said capital stock shall be paid
into the corporation in such manner
and upon such terms as the board of
directors may fix In cash, services, or
by the sale. transfer and assignment to
the corporation OF property. property
rights or interests therein real or per.
sonal, for the uses and purposes of the
corporation, and in pay ment for which,
shares of the capital stock OF the cor.
poration may be issued, and such stock
so Issued shall thereupon and thereby
become and be fully paid up and non-
assessable, and In the absence OF actual
fraud in the transaction, the jud gment
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
fling of its articles with the Corpora
tion Commission 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-
nation thereof shall be twenty-five
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-
ducJed by a Board OF Directors of not
less than three 81 nor more than seven
~ persons, and Bll directors, except in
acese 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
the number OF directors up to seven (7)
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 President, Vice. Presid ent,
Secretary and Treasurer. and such other
officers as the Board of Directors shall
deem expedient, and all shall be elected
or appointed by the Board of Direo-
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 elec.
tiOn and qualification and until their
successors are elected aud qualified,
| unless removed by the board. The di-
rectors shall have the right to iill any
vacancy occurring in the board by
| death, resignation or otherwise. in
cluding the right to ill 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 inereas-
| 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.
ond Monday In January of each year.
commencing with the year 1926.
| ARTICLE TX
The incorporators shall name the per.
sons who shall constitute the fret
Board of Directors and when so select
| ed by the incorporators said mem bers
Of the board shall serve until the first
annual stock holders 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 corporations; to fix the amount to
be reserved as working capital. and to
authorize and cause to be executed
mortgages, debentures and other oblig.
ations which shall be liens upon the
property and franchises OF the corpora
tion, and, in general to exercise all the
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 stockholders.
| ARTICLE XI
The stockholders and members of this
corporation and their private property
shall be exempt from any liza bility for
the debts of this corporation.
ARTICLE XII
With the consent of the holders of
two-thirds "a 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.
QUIT of the capital stock OF the COR
po"ation, issued and outstanding, when