The Brunswick news. [volume] (Brunswick, Ga.) 1906-2016, 1908-09-26

/ duce the rates to all 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 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.OOo).
5th. is further agreed Dy 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-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 5000 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
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 tand 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 a
total distance from the East line of
| Oglethorpe street to the Western line
| OF Grant street of one hundred and
eighty (1S0) feet; thence running
| North along the Western liue of Grant
street to the South line of F street:
thence running Westerly along the
South line of F street one hundred
and eighty (1S6) feet to the point of
beginning. The value of said water
works plant and appurtenances. in
GLIDING said real estate. to he 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
I desire to exercise this option, 1t must
give notice Of it's intention six (6)
months prior to the expiration Of the
first five 60 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 (2) months
| from the date of the service of such
notice, both parties agreeing to
promptly select their arbitrators af-
I ter the service OF such notice In
I the event Of such purchase, the city
I 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
| 10) year period, according as the city
may elect to purchase at the expira-
ton of said five 90 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
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. 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 arbtra
| ton, as we'll as the expense Of the
umpire and its own expenses. In as
certaining the value Ct such water
works plant and appurtenances, such
arbltrators or appraisers shall con
slider and appra'se the physical value
Ct all of such waterworks properties and
appurtenances at the time of arbitra-
! ton, without taking into consideration
any franchise or commerciai' 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 membranes and in
| debtedness Of every kind and charac
ter whatsoever IN the event Of pur-
chase of such waterworks plant at
the expiration of the first five )5(
year period, this contract in rerpect to
| the furnishing Of water shall term'
nate, but shall continue and remain
Of force in re9nect to gas and cleo