Wood County reporter. [volume] (Grand Rapids [i.e. Wisconsin Rapids], Wis.) 1857-1923, 1898-05-05

posts and place the wires thereon in such man.
ner and in such places as not to interfere with
travel on the streets, sidewalks, alleys and
public places of said city.
T SEC 2. The height and points of location OF
the poles set by said company, and the height
of all wires used to transmit electric energy
shah be determined by the common council,
and shall be changed from time to time in such
manner as said common council shall direct.
SEC. g. The said Twin City Electric company,
| in consideration of the passage of this ordi.
nance and the privileges hereby granted,
release the city of Grand Rapids from any and
all claims for damage which may arise or be
caused to its poles, wires or other property by
the firemen Of the city in the performance of
their duty during fire or by mobs, riots or
other civil connections, and does further agree
at all times to protect said city from liability
from accident or injury to any person or prop
erty, public OR private, caused by its said poles
posts or wires or the operation of its said plant
u nd save said city harmless from all judgments
obtained against it by reason of the erection
existence or operation of It's said poles, posts
wires and appurtenances.
SEC. 4. During fire in any building con-
nected with, or adjacent to, the active electric
wires Of said company, said company shall,
upon demand of the mayor, or acting chief of
the fire department. dlsconnect its electric cur.
rent in such wire or wires during such fire.
SEC. 5. Further, in consideration of the fore.
going privileges herein granted, 1t is hereby
demanded and made condition. obligatory
and binding on said Twin City Electric COM
pany that it shall never issue more shares OF
stock than the number of incandescent lights
that it rents, or its equivalent in arc lights or
power lone share of stock being $500, and
twenty incandescent lights being equal to one
arc light of 1000 candle power or one horse
power, and 1t shall always so regulate its stock
that any citizen or corporation of this city shall
have the right to purchase Of said company, at
par as many shares of its stock as he or it rents
incandescent lights or their equivalent in arc
lights or power, and that it shall be ready to
furnish lighting service TO this city and its citi-
zens within one year from the passage of this
ordinance.
SEC. 6. The rates charged by said COMPANY
for light and power shall be actual cost--actual
cost to include, besides current repairs and
expenses, a reasonable reserve fund for future
construction and reconstruction not exceeding
per cent of its gross annual earnings, and a
rate of interest or dividends on it's capital stock
not exceeding u per cent per annum.
SECT. The city OF Grand Rapids or its legal :,
successor shall have the right or option to pur- |
chase the entire plant of said Twin City Electric
company Al any time after its completion at its
fair cash value, the franchise herein granted to |
be thereby terminated ana not 20 be included |
in such cash value, the value to be determined |
on the motion of said city or its successor by |
The usual methods of arbitration
SEC. S. The substantial violation by the Twin |
City Electric company of any of the conditions,
req uirements or restrictions imposed on 1t by !
this ordinance shall be and operate as a for. |
feiture Of the franchise and privileges herein
granted
SEC. O. This ordinance shall take effect and |
be i'll force from and after its passage and pub.
licatiOn
Dated this 8rd day of May, A. D. 1868.
II. WIPPERMAE,
MILTON W. MosHEe, Mayor.
CLERK.