The Brunswick news. [volume] (Brunswick, Ga.) 1906-2016, 1908-08-26

Il
electricity, other than the city. from
| eleven cents (11c) per thousand watts
to ten cents 10c) per thousand watts,
with the same provision for discounts
to consumers of electricity as provid-
| ed and set out in this contract. Such
J reduction shall be effective beginning
with * month Immediately succeed
ing the month in which it has been
ascertained that such population has
so increased to twenty-five thousand
| (25,OOO).
5th. t is further agreed by the ccm-
pany, in consideration of the making
| and execution of this contract for the
taking of water. gas and electricity by
| the city, that It does hereby give and
grant to the city an option to purchase
and acquire the waterworks plant and
appurtenances of the company as To-
| caed and constructed in said city at
| the expiration of the first five year
period of the term of this contract.
| or at the expiration of said ten-year
period, and which plant and appur-
tenances shall also include the follow
| inc real estate in said city. to wit
New Town Lot Number Two Thou
sand and Ninety-four (2094) and that
portion of Old Town Lot Fifty-one (5D
described as follows: Beginning at the
| intersection of the East line of OgIe.
thorpe street with the Southern line
CT F street and running thence south
along the East line of Oglethorpe
street to the North wall of the pres
ent electric power-house of said COM
pany (and which wall shall be a party
walD; thence running East along the
North wall of said power house and
on a line extending beyond it to the
Western line of Grant street, being
total distance from the East line of
Oglethorpe street to the Western line
of Grant street of one hundred and
eighty QS0) feet; thence running
| North along the Western line of Grant
street to the South line of F street;
| thence running Westerly alcng the
South line of f street one hundred
! and eighty QSG) feet to the point of
beginning. The value of said water
works plant and appurtenances, in
Guiding said real estate, to be deter
mined by arbitration, the city to Sc.
, lect one arbitrator and the company
to select one, and if said arbitrators
! fail to agree on such valuation, they
shall select an umpire, and the decis-
ion of such umpire as to such valu-
alton shall be final and binding on
the parties hereto. If the city should
desire to exercise this option, 1t must
give notice of its intention six CO.
months prior to the expiration of the
first five go year period, or six months
prior to the expiration of the ten
10) year period, as the case may be,
such notice to be by formal resolu-
ton CT ordinance, copy of which must
be served upon the president, vice.
president, or manager of the COM
pany. Such valuation or appraisment
must be made and submitted to each
party hereto within two CD months
from the date of the service of such
notice, both parties agreeing to
promptly select their arbitrator af-
ter the service of such notice. In
the event OF such purchase, the city
shall pay in cash to the company the
amount so determined as the value Of
such water plant at the expiration of
said five 60 year period or said ten
(10D year period, according as the city
may elect to purchase at the expira-
ton of said five (5) year or ten Q0)
year period, or If the city should not
desire to pay cash for such property
then the terms and conditions of pay
ment may be mutually agreed upon
In giving notice Of its desire to pur-
chase, the city must state whether or
not it desires to pay cash, and If not,
then it must set out the terms and
conditions upon which 1t desires to
purchase. If the city, after giving such
notice, should fail to make purchase
and payment for said water-works
plant and appurtenances, as herein
provided, then the city shall pay the
entire expense incurred by the com
pany in connection with such arbitra.
ton, as well as the expense of the
umpire and it's own expenses. In as
pertaining the value Of such water
works plant and appurtenances, such
arbitrators or appraisers shall con
slider and appraise the physical value
CT all of such waterworks properties and
appurtenances at the time of arbitra.
ton, without taking into consideration
any franchise or commercial value. In
the event of such purchase by the
city, the company agrees that it will
convey and deliver all Of said water
works plant and appurtenances free
from liens, mortgages, bonds and any
and all other encumbrances and in
debtedness OF every kind and charac
ter whatsoever. In the event Of pur-
chase of such water-works plant at
the expiration Of the first five )5)
year period, this contract in respect to
the furnishing Of water shall termi-'
nate, but shall continue and remain
Of force in respect to gas and cleo
tricity both to the city and its inhabi-
tants until the expiration Of said ten
(10) year period.