Let $X$ be a locally compact Hausdorff space with $n$ proper continuous self maps $sigma_i:X to X$ for $1 le i le n$. To this the authors associate two conjugacy operator algebras which emerge as the natural candidates for the universal algebra of the system, the tensor algebra $mathcal{A}(X,tau)$ and the semicrossed product $mathrm{C}_0(X)times_taumathbb{F}_n^+$. They develop the necessary dilation theory for both models. In particular, they exhibit an explicit family of boundary representations which determine the C*-envelope of the tensor algebra.|Let $X$ be a locally compact Hausdorff space with $n$ proper continuous self maps $sigma_i:X to X$ for $1 le i le n$. To this the authors associate two conjugacy operator algebras which emerge as the natural candidates for the universal algebra of the system, the tensor algebra $mathcal{A}(X,tau)$ and the semicrossed product $mathrm{C}_0(X)times_taumathbb{F}_n^+$. They develop the necessary dilation theory for both models. In particular, they exhibit an explicit family of boundary representations which determine the C*-envelope of the tensor algebra.