EXHIBIT 3(a)

                             File Number 4791-313-6

                                         ----------

 

                                STATE OF ILLINOIS

                                    OFFICE OF

                             THE SECRETARY OF STATE

 

Whereas,  ARTICLES OF AMENDMENT TO THE ARTICLES OF INCORPORATION OF

 

 

                           PEOPLES ENERGY CORPORATION

 

INCORPORATED UNDER THE LAWS OF THE STATE OF ILLINOIS HAVE BEEN FILED IN THE

 

OFFICE OF THE SECRETARY OF STATE AS PROVIDED BY THE BUSINESS CORPORATION ACT OF

 

ILLINOIS, IN FORCE JULY 1, A.D. 1984.

 

 

 

Now, Therefore, I, George H. Ryan, Secretary of State of the State of Illinois,

by virtue of the powers vested in me by law, do hereby issue this certificate

and attach hereto a copy of the Application of the aforesaid corporation.

     In Testimony Whereof, I hereto set my hand and cause to be affixed the

Great Seal of the State of Illinois, at the City of Springfield, this 3rd day of

March A.D. 1995 and of the Independence of the United States the two hundred and

19th.

 

 

 

                                        /s/George H. Ryan

(SEAL)                                  Secretary of State

 

 

<PAGE>

 

 

FORM BCA-10.30           ARTICLES OF AMENDMENT         File #4791-313-6

 

- --------------------------------------------------------------------------------

(Rev. Jan. 1995)

- --------------------------------------------------------------------------------

George H. Ryan                                         SUBMIT IN DUPLICATE

Secretary of State                                     This space for use by

Department of Business                                 Secretary of State

Services

Springfield, IL  62756

Telephone (217) 782-1832           FILED               Date 03-03-95

                                   MAR 3 1995          Franchise Tax   $

Remit payment in check             GEORGE H. RYAN      Filing Fee*     $25.00

or money order, payable to         SECRETARY OF STATE  Penalty         $

"Secretary of State."

                                                       Approved: MA

*The filing fee for articles of amendment - $25.00

- --------------------------------------------------------------------------------

1.   CORPORATE NAME:  PEOPLES ENERGY CORPORATION

                      --------------------------------------------------

                                                                 (Note 1)

 

2.   MANNER OF ADOPTION OF AMENDMENT:

        The following amendment of the Articles of Incorporation was adopted on

February 24, 1995 in the manner indicated below.  ("X" one box only)

 

     [ ]  By a majority of the incorporators, provided no directors were named

          in the articles of incorporation and no directors have been elected;

                                                                 (Note 2)

 

     [ ]  By a majority of the board of directors, in accordance with Section

          10.10, the corporation having issued no shares as of the time of

          adoption of this amendment;                            (Note 2)

 

     [ ]  By a majority of the board of directors, in accordance with Section

          10.15, shares having been issued but shareholder action not being

          required for the adoption of the amendment;            (Note 3)

 

     [X]  By the shareholders, in accordance with Section 10.20, a resolution of

          the board of directors having been duly adopted and submitted to the

          shareholders.  At a meeting of shareholders, not less than the minimum

          number of votes required by statute and by the articles of

          incorporation were voted in favor of the amendment;    (Note 4)

 

     [ ]  By the shareholders, in accordance with Sections 10.20 and 7.10, a

          resolution of the board of directors having been duly adopted and

          submitted to the shareholders.  A consent in writing has been signed

          by shareholders having not less than the minimum number of votes

          required by statute and by the articles of incorporation.

          Shareholders who have not consented in writing have been given notice

          in accordance with Section 7.10;                       (Notes 4&5)

 

     [ ]  By the shareholders, in accordance with Sections 10.20 and 7.10, a

          resolution of the board of directors having been duly adopted and

          submitted to the shareholders.  A consent in writing has been signed

          by all the shareholders entitled to vote on this amendment.

                                                                 (Note 5)

 

3.   TEXT OF AMENDMENT:

     a.    When amendment effects a name change, insert the new corporate name

below.  Use Page 2 for all other amendments.

          Article I:  The name of the corporation is:

- --------------------------------------------------------------------------------

                                   (NEW NAME)

 

                 all changes other than name, include on page 2

                                     (over)

 

 

<PAGE>

 

 

                                Text of Amendment

 

 

 

b.   (If amendment affects the corporate purpose, the amended purpose is

     required to be set forth in its entirety.  If there is not sufficient space

     to do so, add one or more sheets of this size.)

 

     (See attached pages)

 

 

                                     Page 2

 

 

<PAGE>

 

 

 

     The Articles of Incorporation are amended by adding the following new

Article Ten and Article Eleven thereto:

 

                                   ARTICLE TEN

 

               No director of the corporation shall be liable to the corporation

               or to the shareholders of the corporation for monetary damages

               for breach of fiduciary duties as a director, provided that this

               Article Ten shall not eliminate or limit the liability of a

               director (i) for any breach of the director's duty of loyalty to

               the corporation or its shareholders, (ii) for acts or omissions

               not in good faith or that involve intentional misconduct or a

               knowing violation of law, (iii) under Section 8.65 of the

               Illinois Business Corporation Act of 1983, as amended or (iv) for

               any transaction from which the director derived an improper

               personal benefit.  This Article Ten shall not eliminate or limit

               the liability of a director of the corporation for any act or

               omission occurring before the date on which this Article Ten

               becomes effective.  Any repeal or modification of this Article

               Ten by the shareholders of the corporation shall not adversely

               affect any right or protection of a director of the corporation

               existing at the time of such repeal or modification.

 

                                 ARTICLE ELEVEN

 

Paragraph 1:   The corporation shall indemnify, to the fullest extent permitted

               under the laws of the State of Illinois and any other applicable

               laws, as they now exist or as they may be amended in the future,

               any person who was or is a party, or is threatened to be made a

               party, to any threatened, pending or completed action, suit or

               proceeding, whether civil, criminal, administrative or

               investigative (including, without limitation, an action by or in

               the right of the corporation), by reason of the fact that he or

               she is or was a director, officer or employee of the corporation,

               or is or was serving at the request of  the  corporation as a

               director, officer, employee or agent of another corporation,

 

 

<PAGE>

 

 

               partnership, joint venture, trust, employee benefit plan or other

               enterprise against expenses (including attorneys' fees),

               judgments, fines and amounts paid in settlement actually and

               reasonably incurred by such person in connection with such

               action, suit or proceeding.

 

Paragraph 2:   Expenses incurred by such a director, officer or employee in

               defending a civil or criminal action, suit or proceeding shall be

               paid by the corporation in advance of the final disposition of

               such action, suit or proceeding to the fullest extent permitted

               under the laws of the State of Illinois and any other applicable

               laws, as they now exist or as they may be amended in the future.

 

Paragraph 3:   The board of directors may, by resolution, extend the provisions

               of this Article Eleven regarding indemnification and the

               advancement of expenses to any person who was or is a party or is

               threatened to be made a party to any threatened, pending or

               completed action, suit or proceeding by reason of the fact he or

               she is or was an agent of the corporation or is or was serving at

               the request of the corporation as a director, officer, employee

               or agent of another corporation, partnership, joint venture,

               trust, employee benefit plan or other enterprise.

 

Paragraph 4:   The rights provided by or granted under this Article Eleven are

               not exclusive of any other rights to which those seeking

               indemnification or advancement of expenses may be entitled.

 

Paragraph 5:   The indemnification and advancement of expenses provided by or

               granted under this Article Eleven shall continue as to a person

               who has ceased to be a director, officer, employee or agent and

               shall inure to the benefit of the heirs, executors and

               administrators of that person.

 

 

<PAGE>

 

 

4.   The manner, if not set forth in Article 3b, in which any exchange,

     reclassification or cancellation of issued shares, or a reduction of the

     number of authorized shares of any class below the number of issued shares

     of that class, provided for or effected by this amendment, is as follows:

     (If not applicable, insert "No change")

 

          No change.

 

5.   (a) The manner, if not set forth in Article 3b, in which said amendment

     effects a change in the amount of paid-in capital (Paid-in capital replaces

     the terms Stated Capital and Paid-in Surplus and is equal to the total of

     these accounts) is as follows:  (if not applicable, insert "No change")

 

          No change.

 

     (b) The amount of paid-in capital (Paid-in Capital replaces the terms

     Stated Capital and Paid-in Surplus and is equal to the total of these

     accounts) as changed by this amendment is as follows:  (If not applicable,

     insert "No change")

 

          No change.

                                        Before Amendment    After Amendment

 

                      Paid-in Capital   $                   $

                                         ---------------     --------------

 

   (Complete either Item 6 or 7 below.  All signatures must be in BLACK INK.)

 

6.   The undersigned corporation has caused this statement to be signed by its

     duly authorized officers, each of whom affirms, under penalties of perjury,

     that the facts stated herein are true.

 

Dated March 2, 1995                     PEOPLES ENERGY CORPORATION

                                        --------------------------

                                        (Exact Name of Corporation at date of

                                        execution)

 

attested by /s/Emmet P. Cassidy         by /s/Kenneth S. Balaskovits

            -------------------            -------------------------

            (Signature of Secretary)    (Signature of Vice President)

 

Emmet P. Cassidy, Secretary             Kenneth S. Balaskovits, Vice President

- ---------------------------             --------------------------------------

(Type or Print Name and Title)          (Type or Print Name and Title)

 

7.   If amendment is authorized pursuant to Section 10.10 by the incorporators,

     the incorporators must sign below, and type or print name and title.

                                       OR

 

     If amendment is authorized by the directors pursuant to Section 10.10 and

     there are no officers, then a majority of the directors or such directors

     as may be designated by the board, must sign below, and type or print name

     and title.

 

The undersigned affirms, under the penalties of perjury, that the facts stated

herein are true.

 

Dated                 , 19

- --------------------      ---

 

- ----------------------            --------------------

- ----------------------            --------------------

- ----------------------            --------------------

- ----------------------            --------------------

 

 

                                     Page 3

 

<PAGE>

 

 

                             NOTES and INSTRUCTIONS

 

NOTE 1:   State the true exact corporate name as it appears on the records of

          the office of the Secretary of State, BEFORE any amendments herein

          reported.

 

NOTE 2:   Incorporators are permitted to adopt amendments ONLY before any shares

          have been issued and before any directors have been named or elected.

          (Section 10.10)

 

NOTE 3:   Directors may adopt amendments without shareholder approval in only

          seven instances, as follows:

          (a) to remove the names and addresses of directors named in the

              articles of incorporation;

          (b) to remove the name and address of the initial registered agent

              and registered office, provided a statement pursuant to

              Section 5.10 is also filed;

          (c) to increase, decrease, create or eliminate the par value of the

              shares of any class, so long as no class or series of shares is

              adversely affected.

          (d) to split the issued whole shares and unissued authorized shares

              by multiplying them by a whole number, so long as no class or

              series is adversely affected thereby;

          (e) to change the corporate name by substituting the word

              "corporation", "incorporated", "company", "limited", or the

              abbreviation "corp", "inc.", "co.," or "ltd." for a similar word

              or abbreviation in the name, or by adding a geographical

              attribution to the name;

          (f) to reduce the authorized shares of any class pursuant to a

              cancellation statement filed in accordance with Section 9.05,

          (g) to restate the articles of incorporation as currently amended.

              (Section 10.15)

 

NOTE 4:   All amendments not adopted under Section 10.10 or Section 10.15

          require (1) that the board of directors adopt a resolution setting

          forth the proposed amendment and (2) that the shareholders approve the

          amendment.

 

          Shareholder approval may be (1) by vote at a shareholders' meeting

          (either annual or special) or (2) by consent, in writing, without a

          meeting.

 

          To be adopted, the amendment must receive the affirmative vote or

          consent of the holders of at least 2/3 of the outstanding shares

          entitled to vote on the amendment (but if class voting applies, then

          also at least 2/3 vote within each class is required).

 

          The articles of incorporation may supersede the 2/3 vote requirement

          by specifying any smaller or larger vote requirement not less than a

          majority of the outstanding shares entitled to vote and not less than

          a majority within each class when class voting applies.     (Section

          10.20)

 

NOTE 5:   When shareholder approval is by consent, all shareholders must be

          given notice of the proposed amendment at least 5 days before the

          consent is signed.  If the amendment is adopted, shareholders who have

          not signed the consent must be promptly notified of the passage of the

          amendment.     (Sections 7.10 & 10.20)

 

 

C-173.9

 

 

                                     Page 4

 

 

<PAGE>

 

 

File #D4791-313-6

 

Form BCA-5.10

     NFP-105.10

     (Rev. Jan. 1995)

 

George H. Ryan

Secretary of State

Department of Business

Services

Springfield, IL  62756

Telephone (217) 782-3647                               SUBMIT IN DUPLICATE

 

STATEMENT OF                       FILED               This space for use by

CHANGE                             MAR 8 1995          Secretary of State

OF REGISTERED AGENT

AND/OR REGISTERED                  GEORGE H. RYAN      Date  03-08-95

OFFICE                             SECRETARY OF STATE

                                                       Filing Fee          $ 5

 

                                                       Approved: MA

 

                                   PAID                Remit payment in check or

                                                       money order, payable to

                                   MAR 8 1995          "Secretary of State"

 

1.   CORPORATE NAME:     Peoples Energy Corporation

                         --------------------------

 

2.   STATE OR COUNTRY OF INCORPORATION: Illinois

                                        --------

- --------------------------------------------------------------------------------

3.   Name and address of the registered agent and registered office as they

     appear on the records of the office of the Secretary of State (before

     change):

 

     Registered Agent    Emmet          P.             Cassidy

                         -------------------------------------------------------

                         First Name     Middle Name    Last Name

     Registered Office   122 S. Michigan Avenue

                         -------------------------------------------------------

                         Number    Street    Suite No. (A.P.O. Box alone is not

                                                        acceptable)

                         Chicago             60603     Cook

                         -------------------------------------------------------

                         City                Zip Code  County

 

4.   Name and address of the registered agent and registered office shall be

     (after all changes herein reported):

 

     Registered Agent    Emmet          P.             Cassidy

                         -------------------------------------------------------

                         First Name     Middle Name    Last Name

     Registered Office   130 E. Randolph Drive

                         -------------------------------------------------------

                         Number    Street    Suite No. (A.P.O. Box alone is not

                                                        acceptable)

                         Chicago        60601          Cook

                         -------------------------------------------------------

                         City           Zip Code       County

 

 

<PAGE>

 

 

                           AFTER RECORDING RETURN TO:

 

                                 Frankie Shaffer

                           Peoples Energy Corporation

                          130 East Randolph Dr. 24th FL

                                Chicago, IL 60601

 

5.   The address of the registered office and the address of the business office

     of the registered agent, as changed, will be identical.

 

6.   The above change was authorized by:  ("X" one box only)

     a.[ ]     By resolution duly adopted by the board of directors.  (Note 5)

     b.[X]     By action of the registered agent.                     (Note 6)

 

     NOTE:     When the registered agent changes, the signatures of both

               president and secretary are required.

7.   (If authorized by the board of directors, sign here.  See Note 5)

     The undersigned corporation has caused this statement to be signed by its

duly authorized officers, each of whom affirms, under penalties of perjury, that

the facts stated herein are true.

 

Dated                19,

     ---------------    -------   -----------------------------------

                                        (Exact Name of Corporation)

attested by                             by

           ----------------------------     -------------------------

           (Signature of Secretary or          (Signature of Vice

              Assistant Secretary)                 President)

 

     ----------------------------------      ------------------------

     (Type or Print Name and Title)          (Type or Print Name and Title)

 

(If change of registered office by registered agent, sign here.  See Note 6)

 

     The undersigned, under penalties of perjury, affirms that the facts stated

     herein are true.

 

Dated  February 17, 1995                      /s/Emmet P. Cassidy

       -----------------                      -------------------

                                             (Signature of Registered

                                                 Agent of Record)

 

                                      NOTES

 

1.   The registered office may, but need not be the same as the principal office

     of the corporation.  However the registered office and the office address

     of the registered agent must be the same.

 

2.   The registered office must include a street or road address; a post office

     box number alone is not acceptable.

 

3.   A corporation cannot act as its own registered agent.

 

4.   If the registered office is changed from one county to another, then the

     corporation must file with the recorder of deeds of the new county a

     certified copy of the articles of incorporation and a certified copy of the

     statement of change of registered office.  Such certified copies may be

     obtained ONLY from the Secretary of State.

 

5.   Any change of registered agent must be by resolution adopted by the board

     of directors.  This statement must then be signed by the president (or

     vice-president) and by the secretary (or an assistant secretary).

 

6.   The registered agent may report a change of the registered office of the

     corporation for which he or she is registered agent.  When the agent

     reports such a change, this statement must be signed by the registered

     agent.

 

 

 

</TEXT>

</DOCUMENT>

<DOCUMENT>

<TYPE>EX-3.B

<SEQUENCE>3

<DESCRIPTION>EXHIBIT 3(B)

<TEXT>

 

<PAGE>

                                                                    Exhibit 3(b)

 

                            Certificate Number 23828

 

                                STATE OF ILLINOIS

 

                                    OFFICE OF

                             THE SECRETARY OF STATE

 

 

               To all to whom these Presents Shall Come, Greeting:

 

Whereas, Articles of Incorporation duly signed and verified of Peoples Gas

Company have been filed in the Office of the Secretary of State on the 3rd day

of August A.D. 1967, as provided by "THE BUSINESS CORPORATION ACT" of Illinois,

in force July 13, A.D. 1933.

 

Now Therefore, I, Paul Powell, Secretary of State of the State of Illinois, by

virtue of the powers vested in me by law, do hereby issue this certificate of

incorporation and attach thereto a copy of the Articles of Incorporation of the

aforesaid corporation.

 

In Testimony Whereof, I hereto set my hand and cause to be affixed the Great

Seal of the State of Illinois, Done at the City of Springfield this 3rd day of

August A.D. 1967 and of the Independence of the United States the one hundred

and 92nd.

 

 

 

/s/Paul Powell

- --------------

Secretary of State

 

 

(SEAL)

 

<PAGE>

 

                                  FORM B C A-47

 

       BEFORE ATTEMPTING TO EXECUTE THESE BLANKS BE SURE TO READ CAREFULLY

                      THE INSTRUCTIONS ON THE BACK THEREOF.

 

                   (THESE ARTICLES MUST BE FILED IN DUPLICATE)

 

                                                -----------------------------

                                                (Do not write in this space)

STATE OF ILLINOIS,  }                           Date Paid 8-3-1967

                    }  ss.                      Initial License Fee $ .50

COOK    COUNTY      }                           Franchise Tax $ 91.67

                                                Filing Fee  $ 75.00

                                                Clerk

 

TO PAUL POWELL, Secretary of State:

The undersigned,

- -------------------------------------------------------------------------------

                                                               Address

    Name                 Number                   Street         City     State

- -------------------------------------------------------------------------------

William P. O'Keefe     2543 Morse Avenue, Chicago, IL 60645

- -------------------------------------------------------------------------------

Philip B. Hill         1149 Third Avenue, Des Plaines, IL 60016

- -------------------------------------------------------------------------------

Steven L. Larson       1049 North Shore Avenue, Chicago, IL 60626

- -------------------------------------------------------------------------------

     being one or more natural persons of the age of twenty-one years or more or

     a corporation, and having subscribed to shares of the corporation to be

     organized pursuant hereto, for the purpose of forming a corporation under

     "The Business Corporation Act" of the State of Illinois, do hereby adopt

     the following Articles of Incorporation:

 

 

                                   ARTICLE ONE

 

 

The name of the corporation hereby incorporated is:  Peoples Gas Company

 

                                   ARTICLE TWO

 

The address of its initial registered office in the State of Illinois is:  Room

1615, 122 South Michigan Avenue Street, in the City of Chicago (60603) County of

Cook and the name of its initial Registered Agent at said address is:  Joseph M.

Wells

 

 

                                  ARTICLE THREE

 

The duration of the corporation is:  perpetual

 

 

                                                       PAID

                                                       AUG 4 1967

                                                       /s/Paul Powell

                                                       Secretary of State

 

<PAGE>

 

                                  ARTICLE FOUR

 

The purpose or purposes for which the corporation is organized are:

 

          Directly, or indirectly through investments in subsidiaries or

otherwise, to purchase or otherwise acquire, explore for, produce, manufacture,

generate, store, hold, own, consume, exchange, deal in, transport, transmit,

distribute, dispose of, promote the use of, and sell natural or manufactured gas

and any and all other forms or sources of energy, and any and all products and

by-products derived in any way therefrom, for, or to any and all persons for

fuel, heating, cooling, air conditioning, cooking, drying, lighting, power and

any and all other purposes;

 

          To acquire, through the purchase of stock or otherwise, other

corporations, companies, firms, and associations, or any interest therein, and

to own and operate, as subsidiaries or otherwise, and to finance the activities

and businesses of, said corporations, companies, firms, and associations;

 

          To acquire, own, use, convey and otherwise dispose of and deal in any

and all ways in real or personal property or any interest therein;

 

          To manufacture, buy, sell, deal in and with goods, wares, merchandise,

and personal property of every kind and description.

 

 

 

                                  ARTICLE FIVE

 

 

PARAGRAPH 1: The aggregate number of shares which the corporation is authorized

to issue is 20,000,000, divided into one (1) class.  The designation of each

class, the number of shares of each class, and the par value, if any, of the

shares of each class, or a statement that the shares of any class are without

par value, are as follows:

 

          Series     Number   Par value per share or statement that shares

 Class  (If Any)   of Shares               are without par value.

 Common   None     20,000,000              Without par value

 

 

PARAGRAPH 2:  The preferences, qualifications, limitations, restrictions and the

special or relative rights in respect of the shares of each class are:  None

 

<PAGE>

 

 

                                   ARTICLE SIX

 

     The class and number of shares which the corporation proposes to issue

without further report to the Secretary of State, and the consideration

(expressed in dollars) to be received by the corporation therefor, are:

 

Class of shares  Number of shares  Total consideration to be received therefor:

  Common              100                             $1,000.00

 

 

                                  ARTICLE SEVEN

 

     The corporation will not commence business until at least one thousand

dollars has been received as consideration for the issuance of shares.

 

 

                                  ARTICLE EIGHT

 

The number of directors to be elected at the first meeting of the shareholders

is: Nine

 

 

                                  ARTICLE NINE

 

 

PARAGRAPH 1:  It is estimated that the value of all property to be owned by the

corporation for the following year wherever located will be $

                                                             --------

PARAGRAPH 2:  It is estimated that the value of the property to be located

within the State of Illinois during the following year will be $

                                                                -----------

PARAGRAPH 3:  It is estimated that the gross amount of business which will be

transacted by the corporation during the following year will be $

                                                                 ----------

PARAGRAPH 4:  It is estimated that the gross amount of business which will be

transacted at or from places of business in the State of Illinois during the

following year will be $

                        ------------

     NOTE:  If all the property of the corporation is to be located in this

State and all of its business is to be transacted at or from places of business

in this State, or if the incorporators elect to pay the initial franchise tax on

the basis of its entire stated capital and paid-in surplus, then the information

called for in the Article Nine need not be stated.

 

 

<PAGE>

 

                      /s/William P. O'Keefe)

                      ---------------------

 

                      /s/Philip B. Hill    ) Incorporators

                      ---------------------

 

                      /s/Steven L. Larson  )

                      ---------------------

NOTE:  There may be one or more incorporators. Each incorporator shall be either

a corporation, domestic or foreign, or a natural person of the age of twenty-one

years or more. If a corporation acts as incorporator, the name of the

corporation and state of incorporation shall be shown and the execution must be

by its President or Vice-President and verified by him, and the corporate seal

shall be affixed and attested by its Secretary or an Assistant Secretary.

 

                             OATH AND ACKNOWLEDGMENT

 

STATE OF ILLINOIS   }

                    }  ss.

      Cook County   }

 

I, /s/Mary L. Forsberg, A Notary Public, do hereby certify that on the 1st day

of August, 1967 William P. O'Keefe, Philip B. Hill, and Steven L. Larson

personally appeared before me and being first duly sworn by me acknowledged the

signing of the foregoing document in the respective capacities therein set forth

and declared that the statements therein contained are true.

 

IN WITNESS WHEREOF, I have hereunto set my hand and seal the day and year above

written.

 

Place                                              /s/Mary L. Forsberg

                                                   -------------------

(NOTARIAL SEAL)                                    Notary Public

     Here

                                  FORM B C A-47

 

                            ARTICLES OF INCORPORATION

 

 

The following fees are required to be paid at the time of issuing certificate of

incorporation:  Filing fee, $20.00; Initial license fee of 50 cents per

$1,000.00 or 1/20 of 1 percent of the amount of stated capital and paid-in

surplus the corporation proposes to issue without further report (Article Six);

Franchise tax of 1/20 of 1 percent of the issued, as above noted.  However, the

minimum annual franchise tax is $10.00 and varies monthly on $20,000 or less, as

follows:  January, $15; February, $14.17; March, $13.34; April, $12.50; May,

$11.67; June, $10.84; July, $10.00; August, $9.17; September, $8.34; October,

$7.50; November, $6.67; December, $5.84; (See Sec. 133, BCA).

 

In excess of $20,000 the franchise tax per $1,000.00 is as follows:  January,

$0.75; February, .7084; March, .6667; April, .625; May, .5834; June, .5417;

July, .50; August, .4584; September, .4167; October, .375; November, .3334;

December, .2917.  All shares issued in excess of the amount mentioned in Article

Six of this application must be reported within 60 days from date of issuance

thereof, and franchise tax and license fee paid thereon; otherwise, the

corporation is subject to a penalty of 1% for each month on the amount until

reported and subject to a fine of not to exceed $500.00.

 

The same fees are required for a subsequent issue of shares except the filing

fee is $1.00 instead of $20.00.

 

FILED

AUG 3 - 1967

/s/Paul Powell

Secretary of State