The Brunswick news. [volume] (Brunswick, Ga.) 1906-2016, 1908-09-24

.
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).
9Th. is further agreed oy the com
pany, in consideration of the making
and execution of this contract for the
taking of water gas and electricity bv
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 10.
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 appu~-
tenancos shall also include the follow
Ing real estate in said city. to wit:
New Town Lot Number Two Then
sand and Ninety-four (209i} and that
portion of Old Town Lot Fiftv-one (5D
described as follows: BEGINNING At the
intersection Of the East Inc of Og1e
thorpe street with the Southern line
Of street and running thence south
along the East line Of Ogletborne
street to the North wall Of the pres
ent electric pOwerhouse of said com
pany Cand which wall shall be party
walD; 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 4
total distance from the East line of
Oglethorpe street to the Western line
or Grant street of one hundred and
eighty NS0) 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 ESQ feet to the point Of
beginning The value Of said water
works plant and arpurtenances. in
Guiding said real estate. to be deter
| mined by arbitration, the city to SO
lect one arbitrator and the companv
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. it must
give notice Of its intention six (G)
months prior to the expiration Of the
first five 60 year period. or SIX months
prior to the expiration of the ten
1O year period. as the case may he.
such notice to be by formal resoIu-
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-
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 90 year period or said ten
(10) year period. according as the city
may elect to purchase at the exnira-
ton Of said FIVE % year Or ten G0)
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 tho city must state whether or
net it desires to pay cash and if not.
then ii must set ont the terms and
conditions upon which It desires to
purchase, IF the city after giving such
notice should fail to make purchaee
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 9s-
certaining tho value Ct such water
works plant and appurtenauces, such
arbitratOrs or appraisers shall con
slider and aDpraise the physical value
n all Of such waterworks properties and
appurtenances at the time of arbitra-
ton, without taking into consideration
any franchise or commercial value. In
the evont Of such purchase by the
city. the company agrees that it viii
convey and deliver all Of said water
works plant and appurtcnances free
from liens mortgages, bonds and any
and all other encumbrances and in
dcbtcdness 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 ~
year period this contract in respect to
the furnishing Of water shall term
nate, but shall continue ard remain
Of force in re~pect to gas and elac
tricity both to the city and It's inhabi
fapfr I1g1ti1 tho cyrirafioo of cafd ton