The border vidette., 1926-02-20

capital stock, or any debenturc, bond,
or other security OF the company. or
for services rendered in or about the
formation or promotion OF the COM
pany, or the conduct Of it's business, all
| upon such terms as the board Of direc-
tors may approve.
Cd To make any and all contracts,
acquire and transfer any and all species
| or property, and to possess the same
powers In such respects as private in
dividuals now enjoy, and in general to
doeail 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 "
| The authorized amount OF tie capital
stock Of this corporation shall be One
| Million Five Hundred Thousand (Sl,
500. 600 00) Dollars, divided into one
million five hund red thousand (3l. o.
0O0) shares of the par value OF One
Isl OO) Dollar each Upon subscription
therefor said capital stock shall ba 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 ana nom
assessable, and In the absence OF actual
fraud In the transaction, the jud dgment
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 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 aud affairs OF the
corporation shall be vested in and con-
ducted by q Board OF Directors OF not
less than three t3) nor more than seven
l(7} persons, and all directors, except in
i 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
i 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. apd such other
| officers as the Board of Directors shall
deem expedient, and all shall be elected
or appointed by the Board of Direo-
j tors. Any two or more Offices. the
duties Of the incumbent 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.
fi0n and qualification and until: their
successors are elected aud qualified,
unless removed by the board. The di-
rectors shall have the right to ill any
vacancy occurring in the board by
death, resignation or otherwise, in
cluding the right to Gil 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.
ond Monday in January of each year,
commencing with the year 1925.
ARTICLE TX
The incorporators shall name the per.
sons who shall constitute the fret
Board OF Directors and when 80 select
ed by the incorporators said members
/ of the board shall serve until the first
annual stOckhold meeting and until
| their successors are elected and quail
| flied.
ARTICLE
The Board of Directors shall have the
power to make ard 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 oblig.
ations which shall be liens upon the
| property and franchises OF the corpora.
ton, and, in general to exercise ell 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 liability for
the debts OF this corporation.