The border vidette., 1927-09-10


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-
theca.e and deal in real estate, any and
all kinds OF personal properly of any
person, firm, association of corpora
ton, and pay for tie same in cash or
stock, bonds or obligations of this COR
poratloD, or otherwise.
To issue bonds. notes, debentures or
other forms or corporate obligations
and to sell, pledge. hypothecate she
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 nf Indebtedness OF
any corporation. domestic Or foreign,
and to issue and exchange therefor it's
stocks, bonds or. other obligations.
ARTICLE v
The authorized amount of the capital
stock OF Incorporation shall be Twen-
ty-fve thousand (825, 900 00) Dollars,
divided into two hundred and fifty (250)
shares of the par value of Ten t$l0 00)
Dollars each. Upon subscrition 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 fully paid and non-
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
this corporation shall be the date on
which certificate of Incorporation is
issued by the Corporation Commission
terminate twenty-five (25) years there
law.
AT lCAE VII
The affairs of this corporation snail
be conducted by board of not less
than three nor more than five direct
ors. who shall be stockholders of the
corporation Said directors shall be-
elected at the annual meeting of the
stock holders. and shall serve one year,
and until their successors are elected
and qualified. The annual meeting Of
Ithis corporation shall be held at such
place. time and hour as may be pre-
ecribed by the bylaws OF the corpora
tion. The first board of directors shall
be elected by the inoorporators, who
shall serve until their successors are
elected and qualified. II at any time q
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
vacancy shall serve during the unex-
pired term Of his pred decessor. 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
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 Predecessors, and
until his successor is elected and quail
flied. The first officers of the corpora
ti0n, who shall serve until the FIRST an.
nual meeting of the stock holders 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 by laws of this corporation shall
be adopted and may be amended or re-
vised by the board of directors until
and unless otherwise provided by re-
solution OF the stockholders.
: 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 and Sixty-Slx (Sl6. 666. OO)
Dollars.
ARTICLE XII
The private property of the stock
holders of this corporation shall -for.
ever be exempt from any liabilitJ for.
the debts of this corporation. &
ARTICLE XII
Leslie @. Hardy. Of Nogales. Arizona,
who has been q 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
Directors of this corporation may re-
woke this aDDOintment of agent at anv