Gunnison news-champion., 1906-03-30

pass zs-ax al nsatcrias~. and =
work shall t-e sss,B~ct TO ERsd -
-s,ectsoa bean i&ssa @ssl sssAtcrs0
shall be sr.; class n ever fe.5so1e.
So. : N-hen she p.as: L. tu1l0
eossspletea aud placcd "a assrasIosa-
the Town ct G.ana5.ou shall lass
the rlsa1 10 hay tbs same a; sssy
fsnsc fs tne sum ct rfteea thessscssA
Eve hauarea dellass Isl : sso ~
together with Fsstcrc-; oa tns $50
siam a; thu rats os sevcr pcr cent Il
per ceist) IcT aHHls trosH the ds1e
of the cssayie;c INSTALLATION Au1
the said Town ct Gsuni~eu MAY IS
qaiFe the said plant ~ the fs,i.ow1ng
manner. as.d tor the purposes here-
N specified the valuation thereof.
including the franchise and all co.,
tract rights l. fixed At the sum a
fifteen thousand Eve hundred dsA
lars ISIS, Se0.O0) Ipan said sua
the sand grantee i to- bc paid inter
g; at the rate OF seven per cent q
pei ceHtD per snnum. and beside
interest. the actual operating ex-
pcuses oi the plant are 90 be sddcd
and any CNpcnsc incurred IN re
paIrs. fixtures. saPpiIcs and eNtcH
sioBs of lines and any other ncces
sary expense and reasonable
salaries to necessary employees in
connection herewith shall DC treat
ed a. operating expenses. The IN
terest az the rate aforesaid and the
operating eNpcn-es are 10 he sub
tractcd from the total earnings Of
the plant for each and every half
year. and the balance which re
mains is to be credited upon the
purchase price, and this shall be
adjusted aud determined semi
annually on the first days of Jan
uary and July OF each year. As
soon as the remaining balance
equals the said sum Of fifteen thous-
and FIVE hundred dollars ISIS
500. .uo) or as soon as the said stun
together with interest shall bc paid
by the Town of Gunuisou or by any
one for it in any other manner,
the plant itself with all additions.
extensions aud enlargemeHts, and
ell 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
Lbe--SI antee- -spr his assigns, .ii-snd
to said plant, additions, extensions,
enlargements, machinery, applian-
ces, contract rights, and this fran
chise shall cease and terminate.
and for all purposes all lines ac-
quired or extended bcvond 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 of 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 a com
plete and detailed examination of
the books of the grantee appertain-
ing to the operation and running
of said electric light plant and the
income therefrom, and credit such
net balance, from whatever source
derived, upon the purchase price
of said plant as above provided
Until the plant becomes the prop
erty of the Town of Gunnison,
the entire control and operation
thereof shall he 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 dollar (S1 .O0)
per lamp to be scaled down in
proportion to the number of
lamps used.