To acquire the good will, business, property and assets
and to assume or undertake the whole or any part of the
liabilities of any person, firm, association or corporation,
engaged in the like business or businesses enumerated
in Paragraph 1 of this Article, and to pay for the
same in cash, stocks, bonds, debentures, or other securities
of this corporation, or otherwise, as the directors may
determine.
And for the purposes aforesaid to buy, sell, hold,
mortgage and lease property, real, and personal. To
receive payment for capital stock in this company
in money or in property, in labor or service at a
just valuation thereof, to be fixed by the board of
directors. To borrow money and secure the same
and moneys otherwise owing by it by mortgages, deeds,
bonds, notes, or other obligations therefor. To make,
contracts of any kind whatsoever for the furtherance
of its purposes and businesses, including agreements
or contracts between the said corporation and indivi-
duals or other corporations and to exercise all
rights powers or privileges now or hereafter conferred by
law upon corporations organized under the provisions
of the laws of the State of Florida, authorizing the
formation of this corporation.
Article 3.
The amount of capital stock of this corporation shall be
Ten Thousand Dollars ($10,000.00) Divided into two
hundred shares of the par value of Fifty Dollars each
Sixty-eight per cent of the said capital stock is to be
paid for immediately upon issue and the balance of
the stock issued shall be paid for at such time
and under such conditions as shall be prescribed by
the board of directors.
Article 4.
The term for which said corporation shall exist shall
be ninety-nine (99) years.
Article 5.
The officers of said corporation shall be a
president, a vice-president, a Secretary, and treasurer
to be selected by the board of directors, and a board
of not less than three directors to be elected by the
stockholders. The same person may hold the
office of secretary and treasurer. Any of the above
named officers may also be elected General Manager
by the said board of directors. The officers of the said
corporation who shall conduct the business of the
corporation until those who shall be elected at
the first election shall be qualified, are: |