The border vidette., 1927-09-17

and In the course OF such business to |
draw, accept, irdorse, acquire, buy |
and sell all or any negotiable or trans.
ferable instruments and securities; to |
borrow and lend money; to make aud |
perform contracts; to purchase, lease or
otherwise acquire, own. exchange, sell,
or dispose OF. pledge. mortgage, hypo- !
!heca.e and deal In real estate, any and |
all kinds OF personal property OF any
person, firm, association Of corpora |
ton, and pay for tie same in cash or
stock. bonds or obligations OF this cor.
poration, or otherwise.
To issue bonds. notes, debentures or
other forms or corporate obligations
and to sell, pledge. hypothecate the
same. and to secure the pay ment there |
OF by mortgage. pledge or otherwise
upon all or any part of the property OF
the company; to purchase, acquire,
hold, sell and dispose of stock, bonds
or other evidences ut Indebtedness OF
any corporation, domestic or foreign,
and to issue and exchange therefor its
stocks, bonds or other obligations.
ARTICLE v
The authorized amount OF the capital
stock OF this corporation shall be Twen.
ty-five thousand (325, 900 OO) Dollars,
divided into two hundred aud tifty (25O)
shares of the par value of Ten 1910 O0)
Dollars each. Upon subscrltion there.
for said capital stock shall be paid into
the corporation in such manner and
upon such terms as the Board of Di-
rectOrs may fix in cash, services, or by
the sale. transfer and assignment to the
corporation OF property, property rights
or interests therein, real or personal,
for the uses and purposes OF the COR
| pOratiOn, and in payment 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 fnlly paid and nom
assessable. and in the absence of actual
fraud in the transaction. the Judgment
of tho Board of Directors as to the
value OF the services rendered or prop
erty purchased shall be conclusive.
| ARTICLE vi
The time Of the commencement of
this corporation shall be the date on
which certificate of incorporation is
issued by the Corporation Commission
of the State OF Arizona, and it shall
terminate twenty-five (25) years there
after. unless renewed and extended by
law.
| ARTICLE VII
| The affairs OF this corporation shall
be conducted by board Of not less
than three nor more than five direct
Ors. who shall be stock holders of the
corporation. Said directors shall be
elected ut the annual meeting of the
stock holders, and shall serve one year,
and until their successors are elected
and qualified. The annual meeting OF
| this corporation shall be held at such
place. time and hour as may be pre-
| scribed by the bylaws of the corpora
ton. The first board of directors shall
be elected by the incorporators, who
shall serve until their successors are
elected and qualified. II at any time
vacancy>in the board OF directors shall
occur. said vacancy may be filed by the
| remaining members of the board In
office. The person so elected to fill 8
vacancy shall terve during the unex-
pired term Of his predecessor. and until
his successor is elected and qualified.
ARTICLE VIII
The officers of this corporation shall
be president. vice-president, secretary
and treasurer, and such other officers
as the board Of directors may deter
| mine from time to time, who shall be
elected by the board of directors i'm
mediately after each annual meeting Of
the stockholders. and shall hold Office
for one year, and until their successors
are elected and qualified. The offices
OF secretary and treasurer may be held
Dy the same person. In the event of q
vacancy in any Office the board OF di-
rectOrs may fill the same, and the per.
son so elected shall serve during the
unexpired term Of his predecessor, and
until his successor is elected and quail
ified. The first officers Of the corpora.
/ tiony who shall serve until the flrst an
nual meeting Of the stock kholders of the
corporation, and until their successors
are elected and qualified, shall be elect
ed by the first board of directors as
soon as convenient after organization.
ARTICLE TX
The bylaws of this corporation shall
be adopted and may be amended or re.
vised by the board of directors until,
aud unless otherwise provided BY a re-
solution OF the stock holders.
ARTICLE x
The highest amount of indebtedness,
or liability. direct or contingent to
which this corporation is at any time to
subject itself is Sixteen Thousand Six
Hundred aad Sixty-Slx (sl6. 666 COY
Dollars.
ARTICLE XII
The private property of the stock
holders of this corporation shall for
ever be exempt from any liability for
the debts of this corporation.
ARTTCT.E KIT
Leslie @. Hardy. of Nogales, Arizona,
who has been bona fide resident Of
the State of Arizona for at least three
years, is hereby appointed the lawful
agent OF this corporation. for and in
behalf OF this corporation to accept and
acknowledge service and upon whom
may be served all necessary process or
processes in any action. suit or pro.
ceedings that may be brought against
this corporation in any of the courts of
the State of Arizona. and for all pur-
poses required by law. The Board OF
Diracf 0rS 0f fhic cOrnorafiOp NOV ro