Articles of Incorporation: Consolidated Canal Company

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    Articles of Incorporation

    of the

    Consolidated Canal Company

    We, A. J. Chandler, D. M. Ferry and C. C. Bowen desiring to incorporate ourselves and becomes incorporated under the provisions of the laws of the Territory of Arizona, and especially an Act of the Legislative Assembly thereof entitled “An Act Concerning Corporations” affirmed March 8t 1887, and all Acts Amendatory thereof, for the purpose of engaging into the lawful enterprises, business and occupation hereinafter specified, do make, adopt, sign and acknowledge according to the law this Article of Incorporation .

    Article 1.  The names of the Corporators are A. J. Chandler, D. M. Ferry and C.C. Bowen. The name adopted by this Corporation and by which it shall be known is the "Consolidated Canal Company" and its principle place of transacting business is and shall be in the City of Phoenix, in the County of Maricopa in the Territory of Arizona, and at the time of these Articles in the Office of the Recorder of the County of Maricopa in the Territory of Arizona, and the termination thereof shall be twenty-five years thereafter.

    Article 2.  The general nature of the business proposed to be transacted by this Corporation is that of constructing, enlarging, building, maintaining and operating canals, ditches, flumes, pipes, conduits, pumps, reservoirs, aqueducts, gates and any and all other structures and appliances as may be necessary or useful in turning, conducting, controlling, obstructing and regulating the flow of water acquiring by location, appropriation, or purchase, or in any other lawful manner whatever, water, water rights, franchises, dams, canals, ditches, flumes, aqueducts, pipes, conduits, reservoirs, gates, and such other or necessary structures or appliances as may be convenient or useful in turning, conducting, obstructing, controlling and regulating the flow of water; to buy and sell water and the use thereof for any and all purposes; to purchase, acquire, own and sell all kinds of property; to borrow money and contract to repay the sums at such times or times, and with such rate of interest, at its board of Directors  may deem advisable; and to hypothecate mortgage or pledge all or any part of the property of this Corporation, with such interest as it may be legally required to pay.

    Article 3.  The place where this Corporation proposes to have its principle office and place of business is in the City of Phoenix, in the Territory of Arizona, but this Corporation may hold an office and transact any of its business at such other place as its Board of Directors may by resolution or by-laws proscribe.

    Article 4.  The authorized capital stock of this corporation shall be one million dollars, divided into ten thousand shares of the par value of one hundred dollars per share, and the time when, and the conditions upon which it is to be paid are as shall be prescribed by the by-laws of this Corporation; provided, that the certificates of stock shall only be issued for shares of stock that are fully paid. And thereafter said shares of stock were issued shall state upon its face that it is fully paid and non-assessable.

    Article 5. The highest amount of indebtedness or liability, direct or contingent, to which this corporation is at any time to be subject or to subject itself is the amount of six hundred thousand dollars.

    Article 6. The Stockholders in this Corporation and their private property shall be exempt from the corporate debts of this corporation.

    Article 7. The affairs of this Corporation are to be and they shall be conducted, by a Board of Directors consisting of three stockholders, at such time and place and in such manner as shall be subscribed by the by-laws of this corporation, and until otherwise prescribed by the by-laws of this Corporation, the first Tuesday in February shall be the day of holding the annual meeting at the office of the Corporation in the City of Phoenix, Arizona, at the hour of ten o’clock a.m.,  and until an election of Directors shall be had the following named stockholders shall constitute the Board of Directors, viz.: A. J. Chandler, D.M. Ferry, and C.C. Bowen. Any person ceasing to be a stockholder shall cease to be a Director. Vacancies in the Board of Directors shall be filled by the remaining members of the Board.

    Article 8.  The Board of Directors of this corporation shall have power to establish by-laws and make all rules and regulations deemed expedient or essential for the management of the affairs of this Corporation and the officers thereof, not inconsistent with law or these Articles. At the meeting of the Board of Directors a majority of said Directors shall constitute a quorum and at any meeting at which a quorum shall be present it shall be deemed a legal meeting and have the same authority as a full Board. The Directors herein named shall, as soon as practicable after filing these Articles on the Office of the County Recorder of Maricopa County, Arizona, meet and organize the Board and adopt by-laws.

    Article 9.  The Articles of Incorporation may be amended at any annual meeting of the stockholders or at a special meeting thereof called for that purpose, by a majority vote of the Stock of the said corporation voting in favor of such amendments.

    In witness whereof we have hereunto set our hands and seals this 22nd day of March A.D. 1892.

                                                                                                                                    A.J. Chandler  <seal>

                                                                                                                                    D. M. Ferry  <seal>

                                                                                                                                    C.C. Bowen  <seal>


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