The border vidette., 1928-06-23


the common or preferred capital stock
OF said corporation may be issued. and
the capital stock 80 issued shall there
upon and thereby become and be fully
paid up and non Hssessable forever.
Said preferred stock shall entitle the
holder thereof to receive ont OF the net
earnings, and the company shall be
bound to pay fixed yearly cumulative
dividend Of eight per centum e per
cent). but no more. payable quarterly,
at such times as may be provided for
by the bylaws. before any dividend
shall be set apart or paid on the COM
mon stock. The holders Of the prefer
red stock shall, in case OF litigation, or
dissolution OF the company, be entitled
10 be pad in full. both the principal OF
their shares and the accrued d!yii11..pus
charged before any amount sha,m.. be
paid to the holders of the common
stock. The holders of the preferred
stock shall have no voting powers
whatsoever, nor shall they be entitled
TO notice OF any meeting of the stock
holders OF the company. Said preferr-
ed stock shall be subject to redemption
at One Hundred -Four and no-lOO
($l0i.00) Dollars per share and accum-
ulated dividends thereon, at any time
alter one year from the issue thereof,
at such time or in such manner as the
Board OF Directors shall determine.
ARTICLE v
The time of the commencement of
this corporation shall be the day OF
the filing OF it's articles Of incorpora-
ton with the Corporation Commission
of the State of Arizona, and the re-
cOrding OF the same in the Office OF the
County Recorder OF Santa Cruz county,
Arizona, and the termination thereof
shall be twenty five (25) years there
after, with the privilege of renewal as
provided by law.
ARTICLE vi
The affairs of this corporation shall
be conducted by 8 board of not less
three nor more than seven directors,
who shall be stockholders of the cor.
pOratiOn. Said directors shall be elect
ed 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 this
corporation shall be held at such place,
time and hour as may be prescribed by
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
ing members of the board in office.
The person so elected to fill vacancy
shall serve during the unexpired term
nd his
cessor is elected ard qualified.
ARTICLE VII
The officers of this corporation shall
be president, vice president, secre-
tary aud treasurer. and such other off,
GERS as the board OF directors may de-
termlne from time to time. who shall
be elected by tie board of directors
Immediately after each annual meeting
OF the stockholders, and ehall hold
office for one year, and until their suc-
cessors are elected and qualified. The
offices OF secretary and treasurer may
be held by the same person. In the
event of a vacancy in any office the
board OF directors may fill the same,
and the person so elected shall serve
during the unex pired term of lis pre-
deoessor, and until hi, successor is
elected and qualified. The first officers
of the corporation who shall serve un-
til the first annual meeting OF the
of the corporation, shall
be elected by.th first board OF direct
ors as soon as convenient after organi-
cation.
ARTICLE VIII
The board/of directors OF this corpor.
alton shall have power to make, amend,
revise and repeal the by laws of the
company.
ARTICLE TX
The highest amount OF Indebtedness,
which this corporation is at any time
to subject itself is Thirty Three Thou
sand Three Hundred Thirty aid nO-lO0
1898, 800. OO) Dollars.
ARTICLE x
The private property OF the stock
holders OF this corporation shall for
ever be exempt from any liability for
the debts of this corporation.
ARTICLE XI
Charles L. Hardy, of Nogales. Ari-
zona, who has been a bona fide resident
VI buo OLdI0 vi AFlZOud IOr AT l0Abb
three years, is hereby appoint ted the
lawful agent OF this corporation, for
and on behalf of this corporation to ac-
cept and ack nowled ge service and upon
whom may be served all necessary pro-
cess or processes in any action, suit or
proceeding that may be brought
against this corporation in any of the
courts of the State of Arizona. and for
all purposes required by law. The
hoard OF directors OF this corporation
may revoke this appointment of agent
at any time and shall have power to
fill any vacancy of such position.
ARTICLE XII
The names, residences and post Office
add of the lnoOrporators are as
follows: Adolfo l. Dominguez, Rudolfo
Arvizu and AlOnzo E. Aviles, all of
Nogales, Arizona.
IN WITNESS WHEREOF we have
hereunto set our hands and seals this