Los Angeles herald., 1905-07-07
PUBLIC ADVERTISING

Reiesi ana provided further, that
shall Be construed iq aoeTs To grant oo'emii 70 ssid
grantee or his or its successors or as
Signs any right 70 sell transfer or
riebfs eg S9 Irni,nshse oT SSny ot tne
except In the manner aforesaid
That the city Of Los angeles shall
y nave sNss,s the right Ct the expiration of tho
atoresaid period OF twenty-one years
70 purchase the rails. track and road
bed and all property Ia any OF the
streets hereinbefore mentioned, belong
ing 10 said grantee or his or its sue
cessors In interest, laid or constructed
under the grant hereby made or used
by said grantee or his or its successors
chise, at o fair valuation, provided
that the option to make such purchase
shall be declared by resolution of the
three C0une vesrs ppp passed 1ot 1S more , Than
prior to the expiration Of said period
OF twenty-one years.
The valuation of the property pro-
provisions OF this Ordinance shall be
determined by a board OF three arbi-
traitors, OF whom one shall be appoinr-
ed by the city one by the said grantee
or his or its successors in interest, and
the third by the two arbitrators so ap-
pointed said arbitrators snail, be ap-
declaration by the the, q CITY p1 Of IFS fs'e option9
TO purchase said property. In case said
arbitrators fail to make and file an
award within the time hereinafter linn
tied, new board of three arbitrators
shall be appointed as herein nbefore pre-
scribed, to determine the valuation OF
said property. The board of arbitrators
Of It's msmberss SRGa eRRer tbd G
charge Of its duties. Any vacancy in
the board of arbitrators shall he filled
by. the party who made the original ap-
pointment to the vacant place The
award of the arbitrators must be made
and filed with the City Clerk of said
appointment, and a majority OF the arr
such award
The amount of the valuation of said
property determined by the arbitrators
as hereinbefore provided shall be paid
by the city to said grantee or his or
its successors or assigns. In lawful
money of the United States, upon the
expiration of the aforesaid period of
twenty-one years, or, IL the award OF
the. arbitrators. shall not have beon
before the expiration of said period of
twenty-one years, then -within two
months after the filing Of said award.
Upon the making of said payment the
property shall pass to the City of Los
Angeles.
That any neglect, failure or refusal
to comply with any of the conditions
of said franchise shall thereupon i'm
mediately ipso facto effect n forfeiture
thereof and the said city, by it's City
franchise forfeited and may exclude
said grantee or his or it's SUCCESSORS
and assigns from. further use of the
streets Of said city under said fran
successors and assigns shall thereupon
and Immediately surrender all rights in
and to the same, and said franchise
void and of no effect.
Notice is also hereby given that sealed
bids, in writing, will be received for
fYo Nh afe.x~
the forenoon of the seventh day of
August 1905; that the bids received
will be opened at that time; that. all
stated sum in gold coin Of the United
States; and that the franchise will be
struck off sold and awarded to the
person firm or corporation who shall
make the highest cash bid therefor;
provided, only. that at the time of
opening said bids any responsible per-
son, firm or corporation, present or. rep
sum not less than ten per cent above
the highest sealed bid therefor, and
that, said bid so made may be raised
responsible bidder, and said bidding
may so continue until finally said fran
chise shall be struck off sold and
highest bidder therefor in gold. coin, of
the United States. Each sealed bid
must be accompanied with cash, or a
certified frnnd check payable to the City
for the full amount of said bid, and no
said cash, or check is enclosed there
with and the successful bidder. must
deposit at least ten per cent of the
amount of his bid with the City Clerk
before said franchise will be struck off
to him, and If he shall fail to make
such deposit Immediately his bid will
not be received. and will be considered
as void, and said. franchise win then
and there be again offered for sale to
bidder shall ms ka a OIL
cash bid therefor, subject to the same
conditions as to deposit as above men
toned Said procedure will be had un-
and awarded to bidder who shall
make the necessary deposit of at least
ten per cent of the amount of his bid,
bidder shall deposit with the city,
Clerk, within twenty-four hours after
the acceptance of his bid, the remain
thereof, and in case he or it fails to
do so, then the said deposit heretofore
made. will be forfeited, and the award
franchise will, then and there, by said
City Council, be again offered for sale
to the highest bidder therefor, in the
same manner and under the same re-
strictions as herenbefore provided,
and in case said bidder fails to deposit
with the City Clerk the remaining nine
ty per cent of his bid within twenty
award to him of said franchise will be
set aside. and the deposit heretofore
made by him will be forfeited, and no
further proceedings for the sale of said
franchise will be had until the same
shall be readvertised for sale.
Notice is also hereby given that the
successful bidder for said franchise
must, within five days after said fran
chise is awarded to him or it, file with
the City Council bond running to said
city. in the penal sum of one thousand
dollars, with at least two good and suf-
fieient sureties, to be approved by SAID
City Council, conditioned that said bid
der shall we'll and truly observe. fulfill
and perform each and every term and
condition of said franchise, and that in
case of any breach of condition of said
bond the whole amount of the penal
sum therein named shall be taken and
deemed to be liquidated damages. and
shall be recoverable from the principal
and sureties upon said bond If said
bond be not so filed, the award of said
franchise will be set aside. and any
money paid therefor will be forfeited.
H. ]. LELANDE,
7-1-10 lot City Clerk.