Nogales international., 1928-12-04


Taylor, student body Advisor.
shall fail in any fiscal year to
pcy such dividends on all of the
iSsu ed and outstanding preferred
tock, such def iency in the divi-
Conds shall be fully paid, but with
out interest, before any dividends
slall be paid or set apart on the
common stock. Subject to the fore
going provisioGls said preferred
ctock shall not be entitled to parti-
cipate in any other or additional
earnings or profits of the corpora.
ton, the owners or holders of pre-
feTsed stock shall! have no voting
powers whatsoever, nor shall they
te entitled to notice of any meet
ing of sto ckholders of the com
rany.
| TIE whole or any part Of the
preferred stock shall be subject 10
redemption at One hundred-ten
($110.00) Dollars per share and
&C umu ated dividends hereon a.
9ny time after one year from the
!rsue thereof at such time or times
and in such manner as the Board
of Directors shall determine.
ARTICLE VI.
The time of tie commencement
Ct this corporate on shall be the
>lFt te of the filing Of these Articles
witt the Arizona Corporal on
Commission, and the termination
t ereof shall be twenty-five wears
thereafter, with the privilege of
renewal, as provided by law. Z
ARTICLE VII.
The management and conduct Of
the business, property and affairs
of the corporation shall be vested
i, and conducted by a Board If
Directors of not less than three nor
Iaore than five persons, each q
stock holder III this corporation
end each director, except in case
Of va ancies shah be elected at
the annual meeting of stock hold
ers except the first board, which
is chosen as in these Articles here
naf*er set forth.
The officers of the Company
consists of a president, vice -presi-
dent, secretary and treasurer and
such other off els as the Board
of Directors shall deem eXpediert,
and all shall be elected or appoint
ed by the Board of Directors. Any
Two or more offices, the duties of
the encumbered OF which are con-
cistent may be held by the same
person. Both of the officers and
direC tors shall hold their offices
for the period of one year from
and after ele ton and qualifica-
ton and until their successors are
elected and qualified, unless ren1ov.
ed by. the Board. The Directors
shall have the right to fill, any
vacancies occurring in the Board by
death, resignation or otherwise.
and the person or persons elected
to fill ~anv such vaeanc les shall
hotd his office until the next re-
gular meeting of stock holders.
ARTICLE VIII.
The regular annual meeting of
tloe stock holders which shall be
Eeld in the main office of the cor
loration on the first Monday of
November beginning with the
year 1880, unless such day shall
i'all on legal holiday, and in
which event such meeting shall be
on the next secular day.
ARTICLE TX.
The incorporates shall name
the persons who shall constitute
tie f .rs* Board of Directors and
when so selected by the incorpora-
tcrs said members of the Board
shall serve until the first annua,
stock holders meeting and until
ter successors are elected and
qualified
A majority Of the Board of Di-
re"tors shall constitute quorum
and, ex ept as herein and in the
bylaws otherwise provided shall
! have the same authority and pow
. els as if full board were present
ARTICLE X.
The Board Of Directors shall,
have the power to make and alter
tie bylaws Of the corporation; tc
TX the amount to be reserved az
working capital, and 20 authorize ze
and cause to be executed mortgages
debentuTes and other obligo4iony
which shall be liens upon the pro.
rerty and franchises Of the corpor
alton, and, in general to exercis,
all the powers and authority of tn,
company not expressly withheld
from said board by law, or by these
Alt'c'es of In orpora+ion, or BY
t affirmative action Of the stock
holders.
,, ARTICLE XI.
r The stock holders and member.
Of this corporation and their pri
/ vate properly shah be exemp
from any liabilities for the debt,