The border vidette., 1932-05-28

Il, 10 lSauo SnAreS OF any C'HSS ot
the capital stock, bonds. deben,ures,
debentnre stock, notes and other Obii-
cations of this corporation for cash, or
labor done, for property. real or per
sonal, for leases thereof, Or for any
com bination Of any OF the icreg olng, or
in exchange for the stock, debentures,
debenture stock, bonds, securities or
obligations OF any person, firm. assoc
citation, corporation or organization.
| ~ TO acquire, buy, purchase. lease,
own, hold, sell. mortgage. cucumber or
otherwise deal in both improved and
unimproved real estate wherever stu.
ate; to survey, subdivide. plat, colonize
and improve the same fnr the purpose
OF sale or otherwise, and to construct
and erect thereon works. plants. stores,
houses. buildings or structures OF any
nature whatsoever.
U To purchase. hold. sell, exchange
or transfer shares OF it's own capital
stock, bonds, debentures. deben ture
stock or other obligations from time to
time to such an extent and in such
board Of directors shall determ; ne !;
povided that this corporation shall not
use any of the funds or the property
for the purchase OF shares OF its own
capital stock when such use would
! cause any impairment of the capital .:
this corporation, and provided. further.
that shares OF its own capital stock be.
! longing to this corporation shall not he
voted upon directly or indirectly.
TINY To have one or more offices; to
carry on any or all OF its operations
! and businesses; and without restriction
| Svoi tn kn Y
change, lease or otherwise acquire, hold
and own, and to mortgage. sell. convey.
let, or otherwise dispose of real and
personal property OF every class and
description. In any state. territory, dis.
| trict, dependency or country, or subdi
vision or municipality thereof. subject
| to the laws thereof.
(n) To purchase, hold, sell exchange,
lease, suitcase and assign aoy interest
in real estate for oil purposes. To drill
| thereon for oil, or to contract for and
| obtain other corporations, partnerships
or individuals to drill upon said real
estate so purchased, held, leased, euo'
| leased or acquired
fo) To carry on mercantile, manu-
featuring, livestock commission, broker
age. oil refining, oil producing and Ior
other businesses. either in connection
with or separate and apart from the
foregoing, and to have and exercise
all the powers conferred by the
laws of Arizona upon corporations
formed under the act hereinafter re-
ferred to. and to do any and all of the
things hereinbe set forth to the
same extent as natural persons might
or could do.
| The foregoing clauses shall be con-
strued both as objects and powers; and
it is hereby expressly provided that the
| foregoing enumeration OF specific pow
ers shall not be held to limit or restrict
in any manner the powers Of this COR
/ poration, but are in fartherance OF and
in addition to ard not in Limitation OF
the general powers conferred by the
laws OF the State of Arizona.
ARTICLE Nv
| The authorized amount of capital
stock Of this corporation shall be One
Million Dollars ISL 900 COO O0), divided
into ten thousand 100000 shares of the
par value of One Hundred Dollars
(SlO0.0O) each.
From time to time the capital stock
may be Increased or decreased accord.
ing to law, and may be issued IN such
amounts and proportions as shall be
determined by the board OF directors
and as may be permitted by law, and
when SO Issued, shall be deemed to be
fully paid and non -assessable.
At such time as the Board of Direct
ors may by resolution direct, said capi-
tai stock shall be paid into this cor.
poration, either in cash or by the sale
and transfer to it OF real or personal
property. con ontracts. services or any
other valuable right or thing for the
uses and purposes OF said corporation,
| in payment for which shares OF the
capital stock OF said corporation may
be issued and the capital stock 80 issu-
ed Rhall thereupon and thereby become
and be fully paid up and non
assesssble, and in the absence of actual
fraud in the transaction. the Judgment
OF the directors as to the value of the
property purchased shall be conclusive,
| ARTICLE v
The time of the commencement OF
the corporation shall be the day these
Articles are filed In accordance with
law. and the termina tion thereof shall
be twenty five years thereafter, with
privilege of renewal as provided by
| statute
ARTICLE WI
The affairs Of this corporation shall
be conducted by board of directors
aud the following named persons shall
constitute the board of directors until
their successors are elected:
JAMES e CREIGHTON,
WAYNE HUBBS,
! J. NORRIS.
! Hereafter the number of directors
required to constitute the board there
OF may be altered and fixed from time
to time by the bylaws of the corpora.
ton, and in the manner and subject to
the limitations therein prescribed, and
they shall be elected at the annual
meeting of the stockholders called and
held for that purpose, and upon such
notice and at such time and place as
may be provided in by the by la VS.
then ia force