The border vidette., 1934-03-31
cession, as now provided by law.
ARTICLE

The number OF directors of the cor.
poration shall be fixed from time tC
time by the bylaws. The number oi
directors may be increased as may be
provided in the bylaws. The directors
shall be elected by nnd from among the
stock b olders on the first Tuesday Of
January of each year. Until their sue
cessors are elected and qualified, the
following named persons, who are the
incorporators hereof, shall be directors
Mark B Thompson, 228 Security
Building. Phoenix, Arizona.
Sam H. Kyle, 228 Security Build.
ing, Phoenix, Arizona.
NJ. Nj. Thompson, 228 Security
Building Phoenix, Arizona.
In case of any vacancy on the Board
OF Directors by death. resignation, dis.
qualification. or any cause, the remain.
ing directors by vote Of a majo isy
thereof may elect director to hold
Office for the unexpired portion OF the
term of the director whose place shall
be vacant, and until the election Of a
successor
The Board of Directors shall have
power TO hold their meetings outside OF
! the State OF Arizona at such places as
+, from time may be designated by the
bylaws, or by resolution of the Board
Any officer elected or appointed by
the Board Of Directors may be removed
at any time by the affirmative vote Of
majority Of the whole Board Of Direc-
tors. Any o'her officer or employee OF
the Company may be removed at any
time by vote of the Board of Directors,
or by any committee or superior officer
u pom whom such power Of removal may
be conferred by the bylaws or by vote
of the Board OF Directors.
The Board of Directors shall have
power from time to time to fix and to
determine and to vary the amount Of
the working capital Of the Com pany ;
and to direct and determine the use and
over and above the capital stock paid
in; and ia its discretion the Board of
Directors may use and apply any such
surplus or accumulated profits in pur.
chasing or acquiring its bonds or other
obligations, or shares of its own capital
stock, to such extent and in such man.
ner and upon such terms as the Board
of Directors shall deem expedient; bu
shares or such capital stock so purchas.
ed or acquired may be resOld, unless
such shares shall have been retired for
the purpose of decreasing the com.
pany's capital stock as provided by law.
Subject always to bylaws made by
The stock holders. the Board of Direc.
tors may make bylaws. aud, from time
to time, may alter, amend or repeal
any bylaws; but any by-lews msde by
the Board OF Directors may be altered
nr repealed by the stockholders at any
annual meeting. or at any special meet.
Ing, provided notice of such proposed
alteration or repeal be included in the
notice of the meeting.
Whenever any resolution in writing
may be signed. or any proposed action
acquiesced in writing by all the mem.
bers OF the Board Of Directors. such re.
solution or proposed action shall be
taken and considered to be the act of
the Board of Directors, with the same
force and effect as il the same had been
duly approved by the same vote at a
meeting of the Board, duly called and
con vened; and it shall be the duty OF
the secretary of the Company to cause
such action to be recorded in the min
utes Of the Company, with the same
particularity as II it had been so ap.
proved.
ARTICLE vi
The highest amount of Indebted ness
or liability to which the corporation is
at any time to subject itself is Sixty.
Five Thousand 1866, OOO. .00) Dollars.
ARTICLE VII
Private property Of the stock holders