The Coolidge examiner., 1938-05-26

tai stock of this corporation shall
be Twenty Five Thousand 1925,
100000 Dollars, divided into two
hundred fifty (25O) shares of the
value of One Hundred ($100.00)
Dollars each. Upon subscription
therefor, said Capital stock shall
be paid into this corporation in
such manner and upon such terms
as the board of directors may fix,
either in cash, services, or by the
sale, transfer and assignment to the
corporation of property, property
rights or interests therein, real or
of the corporation, and in payment
! for which, shares of the capital
stock of the corporation may be
issued, and the capital stock of
the corporation so issued shall
thereupon and thereby become and
be fully paid up and worcestershire,
and in the absence of fraud in the
transaction, the Judgment of the
| board of directors as to the value
of the services rendered or pro-
perty purchased shall be conclusive.
ARTICLE V
The time of the commencement
of this corporation shall be the
date of filing of it's articles with
the Corporation Commission of the
State of Arizona, and the record
| ing of the same in the office of the
County Recorder of Pinal County,
Arizona, and the termination there
of shall be twenty five (25) years
thereafter, and the corporation
shall have the right to renew it's
charter and franchises for an adj
ditional period of twenty five (25)
years as now provided by law.
ARTICLE VI
(a) The management and CON
troll of the business, property and
affairs of the corporation shall be
vested in, and conducted by, a
board Of directors consisting Of
three (3). All directors, except in
case of vacancies, shall be elected
by the stockholders al their an
nual meeting, except the first board.
The first board of directors are
Y. c White, w. C. Ketchersid, and
c. J. Preece, and they shall act
until their successors shall have
been elected at the first annual
meeting of the stockholders.
(b) The officers of the company
shall consist of a president, vice
president, secretary and treasurer,
and such other officers as the
board of directors shall deem eX-
pedient, and all shall be elected
or appointed by the board of dire
ctors. Any one or more offices may
be held by the same person when
authorized by the board of direc-
tors Until the first meeting Of
the board of directors after the
first annual meeting of stockhold-
ers. and until their successor shall
have been elected and qualified, the
following named persons shall be
the officers of this corporation:
Y. c. White, President
c. J. Preece, Vice-president.
w. c. Ketchersid, Secretary
Treasurer.
(c) Both the officers and direc-
tors shall hold their offices for the
period of one year from and after
their election and until their sue
cessors are elected and qualified.
ARTICLE VII
The first annual meeting of the
stockholders of the corporation
May, 1888, and the regular annual
meeting of the stockholders shall
be held on the first Monday OF
January of each year thereafter.
ARTICLE VIII
(a) The directors shall have
power to make and alter the by
laws of the corporation, to fix the
amount to be reserved as working
capital, and to authorize and cause
to be executed mortgages, notes and
other obligations which shall be
i | ems upon the property and fran
chise of the corporation, and, in
general, to exercise all the power
and authority of the company not
expressly Withheld from them by
law, or by these articles of incor-
poration, or by the affirmative &C
ton of the stockholders
In furtherance and not in limita-
ton of the powers conferred by
statute and by this certificate OF
incorporation, the board is express
ly authorized: