“ Article XII provided that the money received from the sale of shares should be used to secure a tract of land two miles square, on or near the Santa Fe trail, and to defray the expenses of surveying and laying out a municipality to be known as “Council City.”
Article XIV stipulated that one lot out of every fifty should be given for school purposes, and the management should have the power to donate other lots for the establishment of institutions “appropriate to an orderly, virtuous, temperate and refined American community.” ”

“ This board was to be self-perpetuating, being given power to fill vacancies, etc.
Article III provided that members of the company and colonists should be persons of good moral character, the aim being to establish a community with a high ideal of citizenship. ”