Page:Acts, Resolutions and Memorials, Adopted by the First Legislative Assembly of the Territory of Arizona.djvu/65

Rh or State, as the case may be; said company retaining any houses, lands, or other property, not necessarily required in actual passage over said road.

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 double the amount of toll legally due from him, to be collected on complaint in the name of the company, in any court of competent jurisdiction; and the wagon or wagons, and the animal or animals, owned by him or in his charge, shall be liable to be taken on attachment or execution, to satisfy the judgment which may be obtained.

That the capital stock of said company shall consist of fifty thousand dollars ($50,000), which may be increased at any legal meeting of the stockholders of said company, to one hundred thousand dollars ($100,000), 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 same manner and in such place 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 a majority of them legally assembled; and shall hold their offices for one year from and after their election, and until their successors shall be duly elected; 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 meeting to organize said company under this act shall be held at Prescott, on the first Monday in 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 all persons exhibiting a certificate from any commissioned officer of this Territory that they are in the service of the Territory, shall be exempt from the payment of tolls on said road.

The Legislature shall have the right to change or modify the above rates of toll at any time after the expiration of one year from and after the completion of said road.

This act shall take effect and be in force from and after its passage. November 9, 1864.