Gunnison news-champion., 1906-04-13


specs.on- Ash l.ios and assess.l
shall he tar.s ciAe- ~ every rs-sp~~<
>Ec 4 &hen the plan, ~ fs.iIv
sompsesed aud PLACED IL egsrssscA-
.ae To~n IL Gann,-oa shall have
ssae rlGhi - sav THE same at sny
s4use ioE the sam q hfse.n Thousand
I've ban4sed do,lars xl5..sptsj
together ~ssa interest or the sas1
sum al tse rate g! seven t.ss cent
per ccsstJ Esr aaasm trasa the sle;e
of the epmp!e,e insssllsssoa And
the sand Town II Gsar.s-oa may sc-
qnIrs she said plant ~ ske folks~lng
manner, and Tor the s,.sspcss~ here
sn sfeeihed the val.as,on thereof,
inclosiIag the iraach.s. and all con
tracs rights. ~ liked ii the sun Il
htteen Thousand hve hundred dsl
lars Sl3. .5.Du1l pom said sssa
the saId grantee Is to be paid inter
est al the rase Il seven per cent
per cent per annum, aud beside
interest. the actual operating ex-
poHses of the plant are 30 he added
and any expense incarrei IN re-
pairs. hxtares, supplies and exten
sions of lines and any other neces-
sary expense and reasonable
salaries 10 necessary employees in
connection Herewith shall be treat
ed as operating expenses. The in
tcrcst al the rate aforesaid and the
operating expenses are 90 lie sub
trseted from the total earnings OF
the plant for each aud every hail
wear. and the balance which re-
mains is To be credited upon the
purchase price, and this shall he
adjusted and determined semi
annually on the first davs II Jan
uary aud July Of each wear. As
soon as the remaining balance
equals the said sum of fifteen thos-
sand FIVE hundred dollars (xI5,-
$1,000 or as soon as the said sum
together with interest shall be paid
by the Town Of Gunuison or by any
one for 1t in any other manner,
the plant itself with all additions,
extensions and enlargements, and
all its machinery aud appliances,
and each and every contract and
franchise right connected therewith
shall absolutely and completely be-
come the property of the Town q
Gunnison, and the owperuhlp r
the grantee, ~ his s~sisas, !. and
TO said plant, additions, extensions,
enlargements, machinery, applian-
ces, contract rights and this fran
chise shall cease and terminate,
and Tor all purposes all lines ae-
quired or extended beyond the cor
porate limits of said Town for
furnishing light or power and all
rights and privileges acquired, held
or owned IN connection with
the same shall be treated as part
and parcel Of the plant. For the
purpose ~ determining the amount
which is to be applied as a 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 to make com
plete and detailed examination Of
the books Of the grantee appertain-
ing 10 the operation and running
OF SAID electric light plant and the
income 'herefrom, and credit such
net balance from whatever source
derived, upon the purchase price
of sald plant as above provided.
Until the plant becomes the prop
erty of the Town of Gunnison,
the entire control and operation
thereof shall be left to the grantee.
has successors and assigns.
SEC. .. 1t is made an express
covenant and provision of this or
dlnance that the grantee be and is
hereby authorized to sell electric
hight and power both to the Town
Of Gunnison and to private con-
sumers therein. The grantee may
Nhdi " 'iic ioiioNinS Idies.
The maximum rate shall not ex-
ceed the following:
INCANDESCENTs
Meter rate fifteen cents Il5c)
per killowatt hour.
Flat rate, one dollar Sl.O0)
per lamp to be scaled down in
proportion to the number Of
lamps used.
ARCS
All night operations twelve
dollars per month to be scaled
down for less number of hours.
Although the rates may not ex-
ceed the foregoing maximum, the
right is reserved to said grantee
to reduce the above rates to such
point as will be for the best interests
of the Operatiop of tho ,,1zpt anl