The Dallas daily herald. [volume] (Dallas, Tex.) 1873-1887, 1873-08-27
NEW ADVERTISEMENTS.


| Al ORDINANCE to facilitate the intro
| n duction of waterworlIs In the city of
Dallas.
Section !. Re II ordained by the city Coun-
81 OF The city of Dallas, That the "Dallas
| Waterworks Company" composed of John
Lockwood and associates, are hereby granted
| the right ana privilege 10 use any an all of
the streets, lanes, alleys and sidewalks with
in the corporate limits of the city, rs they
| now exist or may hereafter be extended, for
| the purpose of making trenches aud the lay
ing ofmain and service pipes, for the purpose
OF supplying the city and the inhabitants of
SAID city with water; said privileges shall cX-
Tend 10 SAID company during the term of
twenty-five years; provided, said company,
IN the exercise of the above rights and priv
ileges, shall not unnecessarily obstruct the
streets. alleys, lanes and sidewalks, but shall
put the same in as good condition as they
Were,
Sec. 2. That the Dallas Waterworks Com
pany shall erect, nj their own expense and
cost one high pressure fire hydrant on or
ny each Intersection OF the streets on the line
OF their pipes for the use of the city in eXtin-
gushing fires and for the cleansing of the
cutters of said city and sprinkling streets
ana for general public purposes, until the
number reaches nifty, for aud in cOnSidera-
lion OF which the CITY of Dallas agrees to pay
SAID company an annual rent of one hundred
ana nifty dollars per annum each, payable
quarterly, in United States carrcncy-the
SAID city reServing TO herself the right to ill.,
crease the number from time to time as the
necessity may demand, not to exceed the
: owe price.
SEC. B. That in order TO encourage this
important work and enterprise for 'hc inter-
est of our city, MS well MS Tor the pu pose of
showing parties abroad our confidence in the
same, the city hereby reserves the right 10
subscribe TO the capital stock Of the Dallas
Wntrrworks Company the sum OF fifty
thOusapd dollars for which tIey shall h ave
tho right to pay for the said stock of the
company aforesaid, by Issuing bonds, with
coupons attached, payable semi7annnally,
bearing interest at eight per cent per annum,
and payable thirty years alter date, the
interest payable on the same Semi-annually,
on the ii. 81 days OF January and July OF
each yenr, in the city of New York, and the
principal s.iell also be payable III the said
city on The maturity of SAID bonds, which
shall be received and taken at par; pay
mentS on said subscription to be made in
installments ms the work progresses, and the
balance, 50 soon rs the pumping machinery
shall be upon the ground, ready to be put up. |
Sec A. That the city OF Dallas hereby agrees
to guarantee the payment OF the interest on
seyen,yflve thousand dollars OF first mort
gage bonds of the aforesaid company, and |
She is hereby authorized 10 set aside n sufii |
Gent amount out of the annual rent due the |
said company from the said city MS will Sc |
cure the prompt payment OF said interest ac-
cruing on said bonds; said guaran y TO be on |
condition eXpi essed on the face thereof, that |
the city shall not b. linhle thereon anu |
thereby until the pipe Is SO far laid down rs |
to furnish thereby their iifty water plugs in
com plote operation, rented OF said company |
SEC. :. That the city of Dallas exempts the
works OF said company from any and all
municipal taxation for fiye years from and
after the commencement OF said work.
SEC. q. That the city OF Dallas reserves to
he right TO purchase the said water
works OF tile expiration OF five years nom
the date OF the completion. thereof ~ giving
six months previous notice in writing, pre-
yious, of their intention so to do, to said coin-
pany :the price to be paid To be determined
by taking the net earnings Of the last year,
which shall DO equal to eight per cenlnm, to-
witt An amount that calculated at eight
per cent perannum for one year viii give q
result that shall be equal TO the last years
net earnings.
.WateI works Company" shall in no case ex-
seed the sum Of MY cents per one Thousand
gallons To private consumers, TO be dieter
mined by meter, II necessary.
Sec. &. That the said WaterwoIks Company
shall commence said work within ninety
lays froIn.tae passage of this ordinance, and
complete the same on or before the LIST day Of
January, 1879, otherwise the rights and priv
leges herein granted % be null and void.
Sec. .. That the Mayor be authorized and
.euulrci to enter Into written contract ON
he part OF the Corporation of the City of
Dallas with the parties before mentioned,
which contract shall be submitted to the
lily Council under and in accordance with
he provisions Of this ordinance, and for tie
,urpose OF carrying out the provisions OF the
ame; aud tus ordinance and the contract To :
,c entered into by virtue thereof, shnll be
MS appl wing to said parties and
uch other persons rs they may from time
o time associate with them, their successors
nd assigns aud in case said persons shall
incorporate themselves In relation TO the
IMPOSES herein contemplated, shall be APP !
licable to and considered as If made with ,,
UGH corporate body.
Sec. 10. And the City Council reserves the
rh IN. trrn NJ IN, "a f1.tc