Page:Acts, Resolutions and Memorials, Adopted by the First Legislative Assembly of the Territory of Arizona.djvu/29

Rh  That if any person shall neglect or refuse to pay the toll authorized by this act for any animals or teams owned or driven by him when demanded by any person authorized to receive the same, he shall be liable for three times the amount of toll legally due from him, to be co1lected on complaint in the name of said company, in any court of competent jurisdiction: and the animals owned by him or in his charge shall be liable to be taken to satisfy the judgment and execution for debt and costs thereon.

That the capital stock of said company shall consist of one hundred thousand dollars ($100,000), which may at any legal meeting be increased to two hundred thousand dollars ($200,000), to be divided into shares of fifty dollars ($50) each; and each one of said shares shall be considered as personal property, and may be bought and sold, assigned or transferred in the manner and in such places as the stockholders or a majority of them may prescribe in their rules and regulations.

That the officers of said company shall consist of a president, secretary, treasurer, and three directors, who shall be stockholders of said company, and shall be elected by the stockholders of said company, or by a majority of them legally assembled, and shall hold their offices for one (1) year from and after their election, and until their successors shall be duly elected and qualified: and such officers may be removed from office whenever a majority of stockholders present at any legal meeting called for that purpose shall determine that they have been guilty of mismanagement or fraud in the discharge of their duties.

The privileges conceded to said company are, and shall be and continue, for the term of thirty (30) years from the passage of this act: and at the expiration of said term said road shall be relinquished by them in good order, and shall always remain for the benefit of the Territory or State; but it is understood that the said company may sell or retain any real estate owned or possessed by them, and divide the proceeds of the same, in proportion to the shares held by them, among the stockholders after all debts of said company are paid: and said company shall keep said road in good repair and supplied with water, as required by this act, during the time for which this grant is made.

The meeting to organize said company under this act shall be held at La Paz, on the first day of December next, and a majority of the persons named therein shall constitute a quorum for the transaction of business, and they may make by-laws and transact any other business that may be necessary to organize this corporation.

That said company shall have the exclusive right to build and maintain such part of said toll-road as may be included between a point not less than five miles from the town of La Paz, and the point of the intersection of said road and Date Creek, for the space of ten miles on either side of said road, and from said point of intersection with Date Creek to a point not less than one mile from the town of Prescott; such exclusive rights shall extend for one mile on each side of said road. Provided, that in no case shall said exclusive rights interfere with any toll-roads that may be built between any other points in this Territory, or with any roads constructed by the people thereof other than toll-roads.

Upon complaint being certified to before any justice of the