The border vidette., 1928-06-16

tlon in cash only, for which shares OF
the common or preferred capital stock
of said corporation may be issued, and
the capital stock so issued shall there
upon aud thereby become aud he fully
paid up and non assessable forev
Said preferred stock shall entitle the
holder thereof to receive ont of the net
earnings, and the company shall be
bound to pay fzed yearly cumulative
dividend of eight per centum e per
cent) but no more, payable quarterly,
at such times as may bs 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
TO be paid in full. both the principal Of
their shares and the accrued dividends
charged before any amount shall be
paid to the holders OF the common
stock. The holders of the preferred
stock shall have no voting powers
whatsoever, nor shall they he entitled
to notice Of any meeting OF the stock
holders OF the company. Said PREFER.
ed stock shall be subject to redemption
at One Hundred Four and no-l00
($lO4.O0) Dollars per share and accum-
utated dividends thereon. at any time
after 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 oil
this corporation shall be the day of
the filing of it's articles of incorpora-
tion 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,
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 board of not less
three nor more than seven directors,
who shall be stockholders OF the cor.
pora!ion. 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
the by laws of the corporation. 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 bo filed by the remain.
ing members of tho board in office.
The ptrson so elected to fill a vacancy
shall serve during the unexpired term
OF his predecessor, and until his sue.
cessor is elected and qualified.
ARTICLE VII
The officers of this corporation shall
be a president, vice president, score
tary and treasurer, and such other Off
GERS as the board OF directors may de.
termine from time to time. who shall
be elected by the board of directors
Immediately after each annual meeting
of the stockholders, and shall hold
1 Office for one year. and until their sue
cessors are elected and qualified. The
offices Of secretary and treasurer may
he held by the same person. In the
eventofsa vacancy in7 any office the
i board OF directors may fill the same,
and the person SO elected shall serve
during the unexpired term of bis pre-.
decessor, and until his successor il
elected and qualified. The first officers
of the corporation who shall serve un.
| til the first annual meeting of the
stock holders of the corporation, shalt
be elected by the first board of direct.
Ors as soon as convenient after Organi.
zatiOn.
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
or liability, direct. or contingent, tl
which this corporation is at any time
to subject itself is Thirty Three Thou
sand Three Hundred Thirty aid no lOl
1888. 330. .O0) Dollars.
ARTICLE x
The private property of the stock
holders OF this corporation shall for
ever be exempt from any liability fo
the debts of this corporation.
ARTICLE XI
Charles L. Hardy, of Nogales, Ari.
ZOna, who has been bona fde residen,
of the State of Arizona for at leas
three years, is hereby appointed tht
lawful agent of this corporation, fol
and on behalf of this corporation to &C
cept and acknowledge service and upon
whom may be served all necessary pro
cess or processes in any action, suit OF
proceeding that may be brought
against this corporation in any of the
courts of the State of Arizona, and fol
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 tC
fill any vacancy Of such position.
ARTICLE XII
The names, residences and post Office
add dresses of the lncorporators are as
| follows: AdolfO L DomtngueZ. RudOlfC