The Brunswick news. [volume] (Brunswick, Ga.) 1906-2016, 1908-09-23

: elcculclty, other than the CITY from
eleven cents 11c) per thousand watts
, to ten cents (1Oc) per thousand watts.
with the same provision for discounts
to consumers of electricity as provid-
ed and set out in this contract. Such
reduction shall be effective beginning
, with the month Immediately succeed
ing the month in which it has been
ascertained that such population has
so increased to twenty-five thousand
(25,OO0).
9TH. is further agreed by the com
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-vear
period, and which plant and appur-
tenances shall also include the follow
Ing 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 (51)
described as follows: Beginning at the
intersection Of the East line of Ogle
thorpe street with the Southern line
of 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 land which wall shall be a party
VAIL; thence running East along the
North wall of said power house and
on line extending beyond it to the
Western line of Grant street. being a
total distance from the East line of
Oglethorpe street to the Western line
OF Grant street of one hundred and
eighty QSO) feet; thence running
North along the Western line of Grant
street to the South line of F street;
thence running Westerly along the
South line of F street one hundred
and eighty GSC) feet to the point of
beginning. The value of said wafer
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
fall 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
l thn n0Ftinc hnrntn h. II 4
desire to exercise this option. it must
give notice of It's intention six (6)
months prior to the expiration Of the
first five (5) year period, or six months
! prior to the expiration of the ten
G0) year period. as the case may be
such notice to be by formal resolu-
ton or 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 ~ months
from the date of the service of such
| notice, both parties agreeing to
promptly select their arbitrators af-
ter the service of such notice. In
the event oil 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 f5) year period or said ten
G0) year period, according as the city
| may elect to purchase at the expira-
ton Of said five 60 year or ten (10)
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 1t desires to pay cash, and if not,
then it must set out the terms and
conditions upon which it 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 we'll as the expense of the
umpire and its 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
Of 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