Gunnison news-champion., 1906-03-16

ose;sEsssce sud George II. Sethsaan
hss succeS-oss AND assigns. shall
psocecd 10 construct an cscctrle
hight plant and ussasus.ssp hxis.sa2
>S-seM sn the Toxu 81 Gunsl-sn.
;ne work cf cossssT actIou shall tx
t..eun nss later than the hE-, dav
es MAJ. lssp assa tins SAID e.ccsr,c
hight plan: and lighting system
shall Is cossp,escly installed and
ready ter operation ca or bciose
the flTss dan q: JANUARY lso7 All
material shall LIS ncw and hrst
class and of this most modern pat
terH- The equayaseu, shall t. ~
SIT forth sn the Specifications sur
usstted ~ the written proposal oi
the grantee to tle hoard ot Trus
tees upon the third day of March.
1886. The work ut installation
aud CONSTRUCTION shall lie subject
to the inspection os the consulting
engineer ct the Town ot Gunnisou:
the said consulting cneineer shall
pass upon all materials. and all
work shall be subject to rigid in
sTsct,oh. Both labor and material
shall le FIRST class IN every respect
Sec. 4 When the plant i fully
completed and placed in operation.
the Town of GuHuison shall have
the option oi buying the same at
any time for the sum of fifteen
thousand fve hundred dollars
ISIS, 500 00) together with interest
ON the said slim at the rate ol seven
per cent q per cent? from the date
OF the complete installation or,
the Town OF Cunnison NAV acquire
the said plant IN the following
manner; and for the purposes here
in specified, the valuation thereof
including the franchise and all con
tract rights, is fixed at the sum of
fifteen Thousand five hundred dol
lars (sls, 500 .oO). Upon said sum
the said grantee is to be paid inter
est at the rate OF seven pei cent q
per cent? per anuum, and beside
interest, the actual operating ex-
penses and fixed charges of the
plant are to he added. The inter
est at the rate aforesaid the oper-
ating expenses, and the fixed
charges, are TO be subtracted from
the total earnings of the plant for
each and every year, and the bal
ance which remains is to be credit
ed upon the purchase price. As
seon as the remaining balance
equals the said sum of fifteen thous-
and five hundred dollars ISIS
500. .OO) or as soon as the said sum
together with interest shall be paid
by the town OF GunnisOn in anv
other manner, the plant itself and
all its machinery and appliances,
and each and every contract and
franchise right connected Herewith
shall absolutely and completely be
come the property of the Town OF
Gunnison, and the ownership of
the grantee III and to said plant,
contract rights, and this franchise
shall cease and terminate For the
purpose of determining the amount
which is to be applied as net bal
ance to the purchase of the plant,
the board of trustees, by its proper
officers or agents, are hereby given
and shall at all times have the
right and privilege semi annually
to make a complete and detailed
examination of the books of the
grantee appertaining to the opera
ton and running of said electric
light plant and the income there
from. Until the plant becomes the
property of the Town of Gunnison,
the entire control and operation
thereof shall be left to the grantee,
his SUCCESSORS and assigns.
Sec. S. 1t is made an express
covenant and provision of this or
dinance that the grantee be and is
hereby authorized to sell electric
light and power both to the Town
of Gunnison and to private con
sumers therein. The grantee may
charge the following rates
The maximum rate shall not ex-
ceed the following:
INCANDESCENTS
Meter rate fifteen cents G5c)
per killowatt hour.
Flat rate, one Isl .00) per
lamp to be scaled down in pro-
portion to the number of
lamps used to minimum of
not less than forty-hve cents
(45c) per lamp per month.
ARCS
All night operations twelve
dollars per month to be scaled