The border vidette., 1932-08-13

cations and certificates and negotiable
or transferable in3truments.
Il, To issue shares Of any class OF
the capital stock, bonds. debentures,
debenturo stock, notes and other oblt-
cations Of THE corporation for cash, or
labor done, for property, real or per
sonal, for leases thereof, or Tor any
com bination of any OF the foregoing, or
in exchange for the stock. debentures,
debenture stock, binds, securities or
obligations OF any person, firm, asso-
citation, corporation or organization.
~ TO acquire, buy. purchase, lease.
| own. hold, sell, NOR gage, cucumber or
otherwise deal in both improved and
unimproved real estate wherever situ-
ate; to survey. subdivide. plat, colonize
and improve tho samo for the purpose
OF eeIe or otherwise, and to construct
and erect thereon works, plants. stores,
| houses, buildings or structures OF any
nature whatsoever.
(D To purchase, hold, SELL exchange
or transfer shares OF it's own capital
stock, bonds, debentures. debenture
stock or other obligations from time to
| time to such an extent and In such
| manner and upon such terms as its
board Of directors shall determine;
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 OF
this corporation. end provided. further,
that shares OF its own capital stock be-
longing TO this corporation shall not he
voted upon directly or indirectly.
tm) To have one or more offices; to
carry on any or all Of its operations
aud businesses; and without restriction
or limit as to amount. to purchase, ex-
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.
ARTICLE Nv
The authorized amount of capital
stock of this corporation shall be One
Million Dollars ISL 600 600 COY, divided
into ten thousand 100000 shares OF the
par value of One Hundred Dollars
| (Sl0O.O0) each.
From time to time the capital stock
| may be increased or decreased accord
ing to law, aud 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 80 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. contracts. 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 shall thereupon and thereby become
and be fully paid up and nom
assessRble, 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, I,
ARTICLEV
| The time OF the commencement Of
the corporation shall be the day these
Articles are fled in accordance with
law, and the termination thereof shall
be twenty five years thereafter. with
privilege OF renewal as provided by
| statute
ARTICLE vi
! The affairs of this corporation shall
be conduct by board Of directors
and 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
I 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 in force
| The annual meeting for the election
of directors shall be first held on the
third Monday of the month of January
of the year 1888, and thereafter on the
corresponding day OF each calendar
! year.
ARTICLE VII
The board of directors shall have
authority: To determine from time to
time whether aud to what extent and
at what times and places and under
what conditions and regulations the
accounts and books of this corporation
(other than the stock ledger or any of
them. shall be open to inspection Of
stock holders, and no stock holder shall
have any right OF inspecting any &C
count, hook or document of this cor
poration except as conferred by statute.
unless authorized by resolution of the
stock holders or directors.
To designate if the bylaws 80 pro-
vide, two or more OF its numb ber TO
constitute an executive ommittee
which com mittee shall for the time be
ing, as provided in said resolution. or
in the bylaws OF this corporation,
have nnd exercise any or all OF tho
powers of the board OF directors in the
management of the business and affairs
| of this corporation and have power TO