Knoxville daily chronicle. [volume] (Knoxville, Tenn.) 1870-1882, 1882-07-02

stipulated. -
18th, And said company hereby agrees
forthwith to take steps to SO amend its
charter, and within ono month SO to amend
the same as to prohibit it from issuing
bonds in excess of one hundred and twenty
five thousand dollars, for a period of five
years from the execution of this agreement,
and after that time from issuing additional
bonds In excess of twenty five thousand
dollars; and 1t Is agreed that the indebted
ness OF the company by bond shall not ex-
coed the amount of one hundred and fifty
thousand dollars, only one hundred AMI
twenty-five thousand of which can be issued
within the said period of five years.
18th. And the said water company
Will at Its own proper expense construct and
establish in connection with the water
works, system of Geographic fire alarms,
of such quality and efficiency as that in
general use in cities, consisting of two
alarm boxes in each of the present eight
wards of the city, located at such points as
the city shall Designate with proper tele-
graphic connections with the central station,
which the company will establish at the
city hall, the central station having proper
| Geographic connections with the pump
works of the company, SO that the add
tional quantity of water required may be
supplied by the engine, the main leading to
| the site of the five, and the central station
may be properly connected with the engine
houses of the city.
| IL And the said city, in consideration of
the premesis on its part, covenants and
agrees: s.
| LIST. To grant and guarantee to said COM
| pany all right to enter upon any and all Streets
| squares, lanes and alleys und the control
of the authorities of the city, for the pur-
pose of laying pipes, mains, &c, and max
| ing repairs of said works; to take up pave
| ment and sidewalks on the same, and to
| make such excavations therein as may be
| convenient or advantageous and necessary
| for the purposes aforesaid; and the right
and privilege to lay pipes, &c, on, across
or through bridges and culverts of the city,
for conducting and distributing water for
public and private uses provided, however,
that the company shall perform their agree
ment as set out in section nine hereinafter
written; and the city does also further grant
the right of way through all public grounds
and places controlled by it, to the contrac-
tors, free of cost, SO far as the same may be
necessary or advantageous for the er, elton,
| construction or maintenance of the said
| water works.
I'd The city further ..obligates itself not
| to grant to any other person or corporation
any contract or privilege to furnish water to
the city of Knoxville, or the privilege of
erecting upon the public streets, lanes, al
| ieys, or other public grounds, for the pur
pose of furnishing said city, the inhabi-
t;.nts thereof, with water, for the full period
of thirty years from the LIST August, A. D.,
| 1888; provided, the company comply with
the requirements and obligations imposed
| and assumed by them under and by virtue
of this agreement
M
to pay to said company for rent of the sew
enty live hydrants, hereinbefore stipulated
to be erected, fifty dollars each per annum,
payable i'll quarterly instruments, on the last
day of each quarter, beginning on the day
upon which the city shall commence recelv-
ing supply of water from said works; and
for any additional hydrants erected for the
use of the city, it will pay, in the same man-
ner, at the rate of not more than fifty dollars
each, per annum.
4th The city will, by ordinance, give to
said company such protection against in
jury, whether by negligence or unwar-
ranted or malicious interference or inter
ruption of any kind, as the legislative de
partment of the city may lawfully do under
It's charter and the laws OF the land.
9th. And upon payment by said company
of said sum of seven thousand eight nun
t-O'1N<S~ 800 80
section six, said city binds itself to. execute
to the company proper deed, with cove
nautS of selZln, freedom from encum-
brances, further assurance and general war
ranty, to all property conveyed to the city
for water works purposes by the following
persons to-wit: First-by Catherine and
J Aary ShettarlX- hu -daed-dated SAorarslles
page SO, registers office of Knox County,
Tennessee. Secondly w. A. Henderson
and Peter Staub, by deed, dated September
oth, 1879, registered Ill same book, page
| 50. Thirdly S. L. Atkin, by deed,
dated September 8th, 1879, registered
by A. s. Prosser and Others by deed dated
September 18th, 1879, registered in same
hook, page 4S. Filthy H. w. Hall, by
deed, dated September Sth, 1879, and regis
| tered in same book, page "a, and also all
rights of way for the use of water works,
| which may have been secured by the city
therefor during the year 1879.
9th. And the said board of mayor and
| aldermen, in view of the benefit and advant-
age accruing to the city and its citizens
from the construction of said works, and
| the erection of said hydrants, covenants and
agrees with the said water company to pay,
| in addition to the annual rent of fifty dollars
as hereinafter provided, and as an additional
drauts, sum equal to that which, under
the laws of the State, and the ordinances
and resolutions of the city, would be annual
ly assessed as taxes for city purposes and
uses on property of the same kind,
squantity and value as that own
ed by the said water company,
within the corporate limits of the city of
Knoxville; provided, that the said addition
al annual rent shall only be paid for the
term of five years next following 1st Au-
gust 1884, and no longer. .
Ill. 1st. And it IS hereby mutually
agreed and understood, that at the expira-
ton of fifteen years from the time herein
before fixed for the completion of said water
works, the city shall have the right, upon
| giving one years notice of such purpose
and intention, to purchase from said COM
pany the water works herein provided for,
end all the property, rights, franchises,
and privileges thereto belonging, by negotia-
| ton, if thus the terms can be agreed upon;
| or, if not, then at and for a consideration,
to be fixed and determined by appraisers;
and, if not purchased at the end OF fifteen
years, the said works, property and fran
! chises, rights, privileges, &c, may, upon
the same terms and conditions, and in
the same way be purchased by the
city at the expiration of each
and every year Thereafter. But III no case
shall such right of purchase exist or be ex-
ercised unless due notice thereof be given
by the city to theicompany, one year before
the expiration of the period aforesaid, or
either of them and in the event of such
notice and the failure of the parties hereto to
| agree upon the terms and conditions of sale,
the price to be paid and other matters neces-
sary to close the sale, then, in that event,
each party shall choose two disinterested
persons, non residents of said city and also
of the county of Knox, in the State of Ten
nessee; and the four thus chosen shall Sc
lect fifth person, likewise disinterested
and a nonresident of Knox County and
said five persons thus chosen shall consti-
tute board of appraisers, and having ac-
cepted their appointment, shall each take
anu subscribe an oath 10 act fairly, honestly
and impartially in the premises, and having