Wood County reporter. [volume] (Grand Rapids [i.e. Wisconsin Rapids], Wis.) 1857-1923, 1900-11-15
ANOTHER PROPOSITION.
In connection with the Establishment of a
Water Works System.

To the Mayor and Common Council Of
the City of Grand Rapids:
We submit to you modification OF
the proposition made you at recent
date, and in case the plan outlined
meets with your approval, we request
that you Immediately appoint COM
mittee consisting Of the city attorney
and members of the council to work
with us in drawing up an ordinance.
granting us franchise for building a
Waterworks system in connection with
our electric light plant, in which the
interests of both the city and the
company shall be properly guarded:
and also to determine the value of the
present system and the property now
owned by the city for waterworkS
purposes, and to agree upon some way
in which we can acquire the same,
either by purchase or lease.
We propose to install a system of
water works in accordance with the
plans made by G.. f. LOweth: we pro-
pose to increase our capital stock to
$4,000, consisting of 1000 shares at
$1,000 per share, and no stock shall be
owned by anyone not using water or
electric service to the rental value of
y
SO owned.
1t is to be binding upon this COM
pany to sell its stock at par to any
consumer desiring the same, and if
any person owns stock who is not using
water or light to the amount of S. 80
per year, for each share said company
shall be obliged to purchase such stock
provided it is paying dividends at the
time Tho pitU of Grand poniIc oop
tracing to take so fire hydrantS at $40
each per year and so arc lamps at $50
each per year.
1t is provided that the price paid at
any time shall not exceed these
figures, but that every five years re-
adjustment of these rates shall be
council and said Twin City Electric
said company is such as to warrant
the same, a reduction shall be made
to the city in hydrant and arc lamp
rental, but at no time shall the rate
to the city for hydrant and arc lamps
be less than enough to pay the inter
est on the bonded Indebtedness. and
at least $500 OF the principle Of said
debt each year.
If the city at any time desires an
extension OF the system, it shall be
obliged to take enough hydrant or are
lamps to pay the interest on the cost
of said extension, and at least 3 per-
cent Of the said cost each year.
The rates to private consumers
shall be Of such amount as to enable
the company to pay its operating
expenses, and cost of maintaining
said system, and dividend to its
stockholders of not over II percent
per year. Any income in excess of
this amount shall be applied on
bonded Indebtedness or new extern
SiOnS which shall be ordered by the
city council.
The business and management of
| this company shall be under the
supervision Of board of five directors
elected from among it's stockholders:
TWO OF whom may be named by the
mayor and city council, and none of
| these directors shall receive any COM
| penSatiOn for their services.
1t is further provided that said city
OF Grand Rapids may at ANY time
purchase said electric light or water
| plant by assuming all Indebtedness of
SAID company and paying its stock
| holders the par value Of their stock.
1t is hereby provided that the CITY
| shall use all its rights and powers in
acquiring for the company additional
land at the springs, which shall be
needed to increase The water supply or
storage capacity, and take proper care
that said water supply shall not be-
come contaminated by sewerage or in
any other way; and in case a sufficient
| water supply cannot be obtained from
these springs, water may be taken
from the Wisconsin river above all
sewer outlets. In case an expensive
| tlltering system should bc required or
| any extraordinary expense be required
which the company would not be able
to pay for out of earnings from private
consumers. the city shall substantially
assist the company by paying higher
rental for hydrantS, or in some other
manner which it may deem advisable.