Gunnison news-champion., 1906-03-23

pass us-sa al nascrsai> -
work sss@N be srtyecs ~ ROD
s5ect1oa. Ioeh latsas aud maD
shall - ;ss=s class ~ every -
sec- : Wheu tbs 5aaus =
cosssTiesed and placed ~ asEs1
tho Town af Gsuss5-i-s,a -hssH -
tbs right to b.v tho SANS = 4
tsrle fns Ia. ss5H ct hsscen th<sq
hve hundred dpiisr~ t<ls. So
together with interest ou t6 r.
sum at the rate os seven pa -
per ceai) pei anusm srasa th1 =
vi the compiste in.-saliatlaa.
the said Tova q. Gsun,sua -
quITe the SAID plant in the soleuU
manner and sos this pssspae~
~ ssscshed. the valust,oa o1nG1
including the franchise aa1 =
tract rights. j. fixed at the sun o'
ff;ecu thousand FIVE hasdsU1 I y
lars ISIS soo.eo). Upoa sod ~
the said granite, Is to tR paid = p
est at the rate q; seven ynf 60
pei cent? per annum, and ~ b
interest the actual ofsratisG .
peuscs OF the IAant are to tr 49,
aud any exf,ensc incurred ~ D.
pairs. fixtures. supplies and eEeH
sions of lines and any other -
saTv expcnse and rcasoa BIZ
salaries to necessary employs u
connection thercwith shall ts tD'
cd a. operating expenses. The
tcrest al the rate aforesaid and vhs
operating expcnscs are to he 80
tracted from the total earnings 81
the plant f0r each aud every III
wear. and the balance which y
mains is to be credited uI,oH ehs
purchase price and this shall b
adjusted and determined se1ni
annually on tho first days OF en
uary and July of each year. A.
soon as the remaining balanct
equals the said sum of fifteen tfnns
and Eve hundred dollars (t1S
500 .OO) or as soon as the said 81
together with interest shall Ike P4ic
bv the Town of Gunnison or by 0ls
one Ton it in any other manuef
the plant itself with all additions
extensions and cnlargoments, anC
all its machinery and appliances
and each and every contract anc
franchise right connected thcrevitl
shall absolutely and completely be
come the property of the lows o.
Gunnisou, and the ownersh4ns o
the grantee, or his assigns, in -
to said plant, additions, extensions
engagements machinery, applian
ces, contract rights, and this iran.
chise shall cease aud terminate
and Tor all purposes all lines aC
quired or extended beyond the cor
porate limits OF said Town foI
furnishing light or power and all
rights and privileges acquired held
or owned in connection with
the same shall be treated as par,
and parcel of the plant. For the
purpose of determining the amount
which is to be applied as a net bal
ancc to the purchase Of the plant
the Board OF Trustees, by its propei
officers or agents, are hereby givef
and shall at all times have the
right and privilege to make a com
plete and detailed examination oi
the books of the grantee appertain
ing to the operation and running
of said electric light plant and th<
income therefrom, and credit suCf
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 be left to the grantee
his SUCCESSORS and assigns.
Sec. 5. 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 (i5c)
per killowatt hour.
Flat rate, one dollar Isl 00)
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.