Nogales international., 1936-01-18
LEGAL NOTICE
trustees or otherwise;

The foregoing enumeration of
specific powers shall not be deem
ed to limit or restrict in any man
ner the general powers of the cor
poration and the enjoyment and
exercise thereof as conferred by the
laws of the State Of Arizona.
ARTICLE v.
The authorized amount Of the
capital stock of this corporation
shall be five hundred thousand
($5O0, 100000 dollars divided into
five hundred thousand (500,O00)
shares of the par value Of one
($1.O0) dollar each. Upon subscrip-
ton therefor said capital stock shall
be paid into the corporation in
such manner and upon such terms
as the board of directors may fix in
cash, services, or by the sale, trans
fer and assignment to the corpora
ton Of property, property rights or
interests therein, real or personal.
for the uses and purposes Of the
corporation, and in payment for
which, shares of the capital stock
of the corporation may be issued,
and such stock so issued shall there
upon and thereby become and be
fully paid up and worcestershire,
and in the absence Of actual fraud
in the transaction, the Judgment
of the board of directors as to the
value of the services rendered or
property purchased shall be con-
elusive.
ARTICLE vi.
The time of the commencement
of this corporation shall be the date
of the issuance to it by the Ari-
IONA Corporation Commission of a
Certificate of incorporation and
the termination thereof shall be
twenty-five (25) years thereafter,
with the power of renewal as pro-
vided by law.
ARTICLE VII.
The management and conduct of
the business, property and affairs Of
the corporation, excepting as 9TH
erwise provided in these articles,
shall be vested in and conducted
by a board of directors of not less
than three iS) nor more than sew
en- Cd persons, and all directors,
except in case of vacancies, shall
be elected at the annual meeting
of stockholders, except the first
board, which is chosen as in these
articles hereinafter set forth. The
officers of the corporation shall
consist of a president, vice presi-
dent, secretary and treasurer, and
such other officers as the board Of
directors shall deem eXpedient, and
all shall be elected or appointed by
the board of directors. Any two or
more offices, the duties of the in
cumbent of which are not incon-
sistent, may be held by the same
person. Both the officers and dir
ectors shall hold their offices for
the period of one year from and af-
ter election and qualification and
until their successors are elected
and qualified, unless removed by
the board. The directors shall have
the right to fill any vacancy occur
ring in the board by death, resig-
nation, or otherwise, and the per-
son or persons elected to fill any
such vacancy or vacancies shall hold
his office until the next regular
meeting of stockholders.
ARTICLE VIII.
The regular annual meeting of the
stockholders shall be held at the
principal office of the corporation
on the first Monday in February of
each year, commencing with the
year 1887.
ARTICLE TX.
i The incorporators shall name the
persons who shall constitute the
first board of directors and when
SO selected by the in4orporators
said members of the board shall
serve until the first annual stock
holders meeting and until their
successors are elected and qualified.
ARTICLE x.
The board of directors shall have
the power to make and alter the
bylaws of the corporation; to fix
the amount to be reserved as work.
ing capital, and to authorize and
cause to be executed mortgages,
debentures and other obligations
which shall be liens upon the pro-
perty and franchises of the corpor-
alton, and, in general, to exercise
all the powers and authority of the
corporation not expressly withheld
from said board by law, or by these
articles of incorporation, or by the
affirmative action of the stockhold-
ers, except as otherwise provided in
these articles.
ARTICLE XII.
The stockholders and members Of
this corporation and their private