The border vidette., 1927-07-02


debtedness, in payment OF which,
shares of the capital stock, either pre-
ferred or common, of said corporation
may be issued, and the capital stock
so ssued shall tereupon and thereby
become and be fully pad up and non
assessable forever, and, in the alb
sence of actual fraud in the transac-
ton, the Judgment of the Board of Di-
rcctors asto the value of the property
so purchased shall be conclusive.
ARTICLE v
The time of the commencement of
this corporation shall be the date of
ration for record in the office of the
Arizona Corporation Commission and
certified copy thereof recorded in.
the office of the County Recorder of
Santa Cruz County, State of Arizona,
and a certificate of Incorporation de-
livered to said company by the Ari-
zona Corporation Commission, and
the termination thereof shall be twen-
ty-five (25) years thereafter, with the
privilege of renewal as provided by
law.
ARTICLE VI
The affairs of this corporation shall
be conducted by Board of Directors
consisting of not less than three nor
more than nine members, and such
officers as the Board OF Directors
may elect or appoint. The following
named persons shall constitute the
Board of Directors until their success
ors are elected and qualified:
T. F. Friday, T D. Boyd, Jr., and
Leslie C Hardy.
Thereafter the Board of Directors
shall be elected from among the stock
holders at the annual stockholders
meeting to be held on the second
Tuesday Of the month of January of
each year. The names of the Officers
who shall have charge of the corpo-
rate affairs until their successors are
elected or appointed and qualified
are:
T. F.. Friday, President; T. D. Boyd,
Jr. Vice President and Treasurer;
and Leslie G. Hardy, Secretary.
ARTICLE VII
The Board of Directors shall have
power to adopt and amend bylaws for
the government of the corporation,
and to fill vacancies occurring on the
! Board of Directors for any cause.
ARTICLE VIII
Thehighest amount of indebtedness
or liability, direct or contingent, to
which this corporation shall be sub
ject at any one time shall in no case
exceed Twenty-Six Thousand Six Hun
dred and Sixty-Six ($26, $4,000 Dol
lars.
ARTICLE TX
The private property of the stock
/; holders of this corporation shall be
exempt from all corporate debts of
any kind whatsoever.
ARTICLE x
Leslie c. Hardy, of Nogales, Santa
lug County, Arizona, who has been
o,a f'de resident of the State of
Ar;zona for at least three years, is
,"reby appointed the lawful agent Of
| this corporation, for and in behalf of
this corporation to accept and ac-
| knowledge service and upon whom
may be served all necessary process
or processes in any action, suit or
| a"oce eedings that may be brought
against this corporation in anv of tho
courts of the State of Arizona, and
for all purposes required by law The
Board of Directors of this corporation
~ revoke this appointment of agent
at any time and shall have nower to
| fill any vacancy in such position.
ARTICLE XI
The names, residences and postof-
| flee address of the incorporators are
, as follows:
T. F. Friday, Nogales, Arizona; T..
D. Boyd, Jr., Nogales, Arizona, and
Leslie c. Hardy, Nogales. Arizona.
| IN WITNESS WHEREOF, we have
hereuntO set our hands this 9Th day
, of June, 1927.
T. F. FRIDAY,
T. D. BOYD, JR.,
LESLIE C. HARDY.
| STATE OF ARIZONA.
COUNTY OF SANTA CRUZ SIS.
This instrument was acknowledged
before me this 8th day of June, 1927,
| by T. F. Friday, T. D. Boyd, Jr., and
Leslie G. Hardy. known to me to be
he persons whose names are SUBJ
acribed thereto, and who acknowl-
edge to- me that they executed the
same for the purpose and considera-
tiCn therein expressed.
! (NOtarial SeaD W. w BARBEE,
Notary Public in and for the
| County of Santa Cruz, State
of Arizona
NV commits sion ayniroc Fohrrarv Q