The Brunswick news. [volume] (Brunswick, Ga.) 1906-2016, 1908-09-22


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 proyid-
ed and set out in this contract. Such
reduction shall be effective beginning
I with the month Immediately succeed
, ing the month in which it has been
ascertafned that such population has
so increased to twenty-five thousand
(25.Ooo).
5th. 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-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 Then
sand and Ninety-four (209N and that
portion of Old Town Lot Fifty-one (51)
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 (and which wall shall be a party
walD; thence running East along the
North wall of said power house and
on line extending beyond 1t 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 street;
thence running Westerly alcng 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 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
fail to agree on such valuation, they
shall select an umpire, and the decis-
ion of such umpire as to such vaIu-
Patton 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 (6)
months prior to the expiration of the
first five 90 year period, or six months
prior to the expiration of the ten
1O) 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 appralsment
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
G0) year period, according as the city
may elect to purchase at the expira-
ton of said five (5) year or ten f10)
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 1t desires to pay cash, and If not
then 1t must set out the terms and
conditions upon which 1t desires tc
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 arhitra
ton. as well as the expense of the
umpire and its own expenses. In IS
pertaining the value Of such water
works plant and appurtenances, such
arbitrators or appraisers shall con
slider and appraise the physical value
CT all of such waterworks properties ant
appurtenances at the time of arbitra
ton, without taking into consideration
any franchise or commercial value. Ir
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
rand all other encumbrances and in
debtedness of every kind and charac
ter whatsoever. In the event Of pur
chase of such water-works plant a
the expiration of the first Ave Us,
year period, this contract in respect II
the furnishing Of water shall termi
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