The Brunswick news. [volume] (Brunswick, Ga.) 1906-2016, 1908-09-06


duce the rates q ali consumers of
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 provld-
| 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
j ascertained that such population has
| so increased to twenty-five thousand
(25,OOO).
5th. t is further agreed by the com
pauy, 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 eoAtract.
/ CT at the expiration of said ten-year
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 (209N and that
portion of Old Town Lot Ffftv-cue (5D
| described as follows BEGINNING at the
intersection Of the East Tine of Ogle
thorpe street with the Southern line
| cf + street and running thence south
| along the East line Of OgIethorpe
! street to the North wall Of the pres
ent electric power-bouse Of said com
panv (and which wall shall be a party
Wall); 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 GS0) feet; thence running
North along the Western line of Grant
street to the South line of F street;
thence running Westerly aTcng the
South line of T street one hundred
and eighty GSdO feet to the point of
| beginning The value Of said water
| works plant and appurtenances. in
| Gliding 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 vaIu
alton shall be final and binding on
| the parties hereto. If the city should
desire to exercise this option it must
give notice of its intention six (6)
months prior to the expiration Of the
I first five 90 year period, or six months
prior to the expiration of the ten
Cl0) year period. as the case may be,
such notice to be by formal resom-
/ 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 C2) months
from the date Of the service of such
notice, both parties agreeing to
promptly select their arbirators af-
ter the service of such notice. In
the event eft 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 90 year period or said ten
10) year period, according as the city
may elect to purchase at the expira-
ton of said five 60 year CT ten 0O)
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
net it 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, aftor giving such
notice, should fail to make purchase
and payment for said water-works
plant and appurtenancos, 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 ard its own expenses. In as
certaining the value Of such water
works plant and appurtenances, such
arbitrator or appraisers shall con
slider and appra'se the physical value
CT aazEes UGH 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 viii
convey and deliver all Of raid water
works plant and appurtenances free
from liens. mortgages, bonds and any
and all other eYcumbrances and in
debtedness of every kind and charac
ter wbat~ooye~ In the event IF pur-
chase Of such watcr-worEs plant at
the eXniraticn of the first FIVE 80
year- period. tbs contract in res9ect t.
tho furnishing of water shall term
ncte, but aha'l continue and remain
Of force in re pect TO gas and cleo
tricif-y both IN fto Citv or4d itc II, IA hi