HomeMy WebLinkAbout24W
The president� stated the corporation had be n
fo ed for the PUrPOOO 0 lowing certain Of the key emp-Oy::s
t.rM,,q.ir. an equity .t:r:it in the construction business,
it h necessary in.order to retain the key employees
" become The President
to Offer such an inter:storn the business. subp crib" Zor
fur r stated that th C al Corporation w!ll
th Investment Inc r-
51 percent� Of the out�standing stock and MW
d a holding company owned by certain of the k y ranployees,
Porat:ul�scribe for the other 49 per -ent of the outat:ndxng
w1l 1
stock of t�his corpor tion. The matter was discussed and the
considered ft r whi:h on motion duly made and seconded
fo I Owing r: solutions were unanimously adopted:
RMSOLVED, that the pr::id:n and secretary Or
hereby authorized to d h:ll issue stock to
th subscribers at the rate of $ f� per share
an: upon full payment of the subscription the
shares of stock shall be issued to the subscriber.
president and secretary
FURTHER RESOLVED and &!I necessary
a e i:hattthe
r hereby autho; ad o du any this corporation.
act. to complete the formation of
The presiden aforesaid
ta:tated that it would be necessary
fo the corporation to tablishnanbank ucount as
r nt with The Oregon
and uggested that the Board cps n acc:c
Banks The Board t�ho'ouqhly considered the matter , aft er
seconded, the following
which, on motion duly made and
resolution was unanimously adopted:
RESOLVED, that The Oregon Bank at any one or more
of its officers, . hereby designated banking
depository of this corperation, and the following
are hereby authorized to sign, on behalf of this
corporation ' orders for payment or withdrawal Of
money, whe n drawn against its checking account -
Such orders shall �� signed by any two Of the
following persons:
Jay W ' Minor
Robert Dean Clapperton, Jr.
C�orge L. N;len, Jr.
Robert Laam
James Irving
S ch authority shall remain in full force until
u the
revoked by written notice to eaid.bank of
a 'tion a Board of Dire torn of this
taken by th
corporation.
Upon motion au'-y made and seconded, the following
resolutAOfts were unanimously adopted:
RESOLVED, that this corporation borrow moneY.frOM
time to time fro. The Oregon Bank, the amoun
thereof not to exceed in the aggregate any one
time the Sum of il 20,000-00, and th.' of the
following persons:
Jay W. Minor
Robert Deane Clapperton, Jr.
George L. Hylen, Jr.
Robert Laam
James , rving
Or hereby authorized and empowered wntthe name of
r i hot its
this corporation to execute with
-3-
I.