Corvallis gazette. [volume] (Corvallis, Benton County, Or.) 1900-1909, 1906-01-12


chise fully to comply with the
provisions and requirements OF
the foregoing section shall work
a forfeiture of this franchise and
render void all rights, privileges
and franchise granted by this or
dinance.
| Section 9. On the 28th day of
November, 1913, and at the end
OF each successive period of five
years thereafter the said City
shall have the right and option
to purchase under proper legis-
lative power either now held by
said City or hereafter to be grant
ed, upon one years written notice
to the said A. Welch, his heirs,
executors, administrators or as
signs, the said electric light plant
including all fixtures, wires,
lamps, structures, buildings and
land necessary to the operation of
said electric light plant at a val
uation to be fixed and determined
by appraisement of such plant by
three arbitrators to be selected,
one by the said City of Corvallis,
one by said A. Welch, his heirs,
executors, administrators or as
signs, and the third to be chosen
by the two so selected. whose de-
cision as to the valuation of
said electric light plant shall be
final. In arriving at the value
of said electric light plant this
franchise and the good will of
said business shall not be deemed
part thereof of the value.
When the value of such plant
shall be found aud determined
by such appraisers the amount so
determined shall be paid by the
said City of Cyrvallis to the said
A. Welch, his heirs, executors,
administrators or assigns, enjoy
ing this franchise, and thereupon
said electric light plant shall be
by said A. WEIGH, his heirs, ex-
ecueors, administrators or assigns,
sold and conveyed to said City
clear of all encumbrance and the
possession thereof be delivered to
said City. However, nothing in
this section shall be construed as
giving to said City the right or
option to purchase or acquire
said power plant or any apps ratus
used in or about the same or
necessary for its full enjoyment,
including the right and franchise
for the use of the streets, alleys,
avenues. boulevards and thor
of said City for said
power purposes.
Nothing herein shall be con-
strued as requiring. said City, in
the event of its purchasing said
plant, to purchase an engine,
machinery or equipments used in
or for generating power for said
plant.
Section 10. In case the said
City shall at any time notify the
person or corporation enjoying
this franchise of its election 20
exercise the option provided in
the foregoing section and the
person Or corporation enjoyingI
this franchise shall fail to do or
perform a1l,,acts and things nee
essary and proper by him or it to
be done and performed to con-
sumate such sale within a rea-
sonable time after such notice,
this franchise and all rights and
privileges hereby granted so far
as the same relates to the estab-
lishment or maintenance of such
electric light plant or grants any
privileges to sell electric lights to
any person or corporation within
said City shall cease and becoEe
null and void.
From and after the purchase of said
electric light plant or such part thereof
as the said A. WEIGH, his heirs, execu-
tors, administrators or assigns enjoying
this franchise may elect to sell upon re-
ceiving notice of the election of said City
to exercise the option OF purchase herein
before provided, or from and after the
purchase of the electric light plant of
the Corvallis Electric Light and Power
Company, or in the event of such pur-
chase, under authority or power SO to do
contained in an ordinance of said City
and contract with said Company therein
authorized. which ordinance passed the
Common Council OF said City November
26, 1908, and was approved by the Mayor
of said City November %, 1903, or other
wise, this franchise SO far as it gives or