The Brunswick news. [volume] (Brunswick, Ga.) 1906-2016, 1908-09-03

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duce the rates to all consumers of
electricity, other than the city, from
eleven cents (11c) per thousand watts
to ten cents Q0c) 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 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 al
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 Ninetyfour (2O9N and that
portion of Old Town Lot Fiftv-one C5D
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 (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 il to the
Western line Of Grant street, being
total distance from the East line of
Oglethorpe stree to the Western line
of Grant street of one hundred and
eighty 1S0) 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 $50 feet to the point of
| beginning The value of said water
works plant and appurtenaneos, 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 yalu-
| alton shall be final and binding on
the parties hereto. If the city should
desire to exercise this option, it must
! give notice of it's intention six co
fmonths prior to the expiration Of the
I first five 60 year period or six months
! prior to the expiration of the ten
! (lO) 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 (2) 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
10) year period, according as the city
may elect to purchase at the expira-
ton of said five % year CT ten 00)
ylor Tpripd cr a. eJo,,I5
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 Ont 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 well as the expense of the
umpire and its own expenses In as
teItdIuiuS lHe value q SuCn wafer
works plant and appurtenances, such
arbitrators or appraisers shall con
slider and appraise the physical value
Ct all Of such waterworks properties and
appurteA&nces 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 eNcu~brances 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 )5l |
year period, this contract in respect TO |
the furnishing of water shall termi- |
nate, but shall continue and remain |
of force in reepect to gas and cleo
tricity both TO the city and its inhabi- |