Los Angeles herald., 1905-07-10
pUsLIc ADVERTISING


geles; and provided further, that
nothing in said franchise contained
snail be construed TO grant to said
grantee or his or its Successors or az
assign ssid Franchise or any 'of the
rights or privileges thereby granted,
except In the manner aforesaid
have the right at the expiration Of tho
/ aforesaid period OF twenty-one years
70 purchase the rails, track and road
streets hereinbefore mentioned belong
Il Ing TO said grantee or his OF It's sue
cessors IN interest, laid or constructed
| by said grantee OF his or its successors
IN interest IN the exercise Of this fran
chise, at 2 fair valuation, provided
shall be declared by resolution Of the
| City Council passed not more than
rnTiee npier years rs nor less than slT months months
The valuation OF the property pro-
posed to be PURCHASED pursuant tq the
determlned by board Of three arbi-
traitors of whom one shall be appoinr-
ed by the city, one by the said grantee
the third by the two arbitrators so ap-
pointed. Said arbitrators shall be ap-
pointed within thirty days after the
to purchase said property. In case said
arbitrators fell to make and file an
award within the time hereinafter lin
shall be appointed as hereinbefore pre-
scribed, to determine the valuation OF
said property. The board Of arbitrators
OF its members enter upon the dis
charge Of its duties. Any vacancy in
the board Of arbitrators shall be 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
Qffv rryifhin al hoa
appointment, and a majority OF the ar
bitrators who agree thereto may make
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
money of the United States, upon the
expiration Of the aforesaid period OF
twenty,one years. or, II the, award OF
made and filed at least two months
before the expiration, of said period of
o9tsIy years tSa then within tyo
Upon the making of said payment the
title and right of possession of all said
property shall pass to the City of Los
That any neglect, failure or refusal
to comply with any Of the conditions
psa sha afee tferefgp9}n &
thereof, and the said city, by its City
Council. may thereupon declare said
franchise forfeited, and may exclude
said grantee or his or its successors
and assigns from further use of the
streets OF said city under said fran
chise, and said grantee and his or its
| successors and assigns shall thereupon
and Immediately surrender all rights in
and to the same, and said franchise
shall be, deemed and shall remain null,
Notice is also hereby given that sealed
bids, in writing. will be received for
SAID sal f6ranca franchise up to eleven o'clock in
August, 1905; that the bids received
will be opened at that timei that. all
aed sas mus sum Pe % od FoF tas don 81 se 1e 9
States; and that the franchise will be
struck off, sold and awarded, to the
make the highest cash bid therefor:
provided, only, that at the time of
opening said bids any responsible per-
resented, may bid for said franchise a
sum not less than ten per cent above
the highest sealed bid therefor, and
that said bid so made may be raised
not less than ten per cent by any other
I responsible bidder. and said bidding
may so continue until finally said fran
awarded by said City Council to the
highest bidder therefor in gold coin of
the United States. Each sealed bid
must be accompanied with cash, or a
certified check payable to the City
Treasurer of the City of Los Angeles,
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
such deposit Immediately. his bid will
as void, and said franchise will then
and there be again Offered for sale to
the, bidder who shall make the highest
cash bid therefor, subject to the same
conditions as to deposit as above men
toned Said procedure will be had un--
til said franchise is struck off. sold
make the necessary deposit of at least
ten per cent of the amount of his bid,
5iddae as herein Pr9yided, SAID successful
Clerk. within twenty-four hours after
the acceptance of his bid. the remain
ing ninety per cent of the amount
do so, then the said deposit heretofore
made will be forfeited, and the award
of said franchise will be void, and said
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-
and In case said bidder fails to deposit
with the City Clerk the remaining nine
ty per cent of his bid within twenty
four hours after its acceptance, the
award to him of said franchise will be
set aside. and the deposit heretofore
made by him will be forfeited, and no
|
franchise will be had until the same
shall be readvertised for sale.
bid3er efsy for sad glEsn aa
must, within five days after said fran
chise is awarded to him or it, file with
city, in the penai sum of u one thousand
dollars. with at least two good and suf-
ficient 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
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 suretes 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. j. LELANDE.
7-1-10 lot City Clerk.
i L. -