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Collection: Original Records > Articles of Incorporation

Kingvale Property Owners & Water Users (AI-K022)(1960) (6 pages)

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(a) To borrow money, issue bonds or notes and secure the payment of same by mortgage, pledge, or deed of trust of or upon all or any of its properties. (o) To do every act and thing which may be necessary or cone venient to carry out any or all of the purposes of the corporation. (f) To build, construct and maintain roads and streets in and around the Kingvale subdivision in the County of Nevada, State of California. Nothing herein contained shall authorize or be construed to permit this corporation to carry on the business of a public utility, nor to permit the accumulation of funds for profit, it being the intent and purpose of this corporation to be mutual and without profit to its stockholders. ARTICLE IIT. The foregoing statements of purpose contained in ARTICIA IIT shall not be limited by reference to or inference from one another, but each such purpose clause shall be construed as a separate statement con= ferring independent purposes and powers upon the corporation. ARTICLE IV. This corporation does not contemplate the distribution of gains, profits, or dividends to the stockholders thereof, ARTICLE Ve The Gounty in this State where the principal office for the transaction of business of the corporation is the County of Nevadas provided, however, that the corporation may maintain an office at such places within the State of California as the Board of Directors may from time to time determine or as may be designated in the By-Laws of the corporation. ARTICLE VZe The period of existence of this corporation shall be perpetual. ARTICLE VII. The maumber of directors of the corporation shall be five.