The Mobridge news. [volume] (Mobridge, Walworth Co., S.D.) 190?-1917, 1911-03-03


grantee, its successors and assigns,
agrees to reduce the price of cleo
trio current to fifteen cents per
kilowatt with a further reduction
of one ceut per kilowatt when the
said city shall have q population of
five thousand (500O) Inhabitants.
to be determined as herein before
described, and it shall be optional
with the city whether meter or fiat
rate shall be charged for street
lighting purposes, and with the
grantee herein, in all other cases
Section IL. That the rights and
privileges herein granted are upon
these express terms and conditions:
AT the expiration of twenty
years, and every ten years there
after, the city of Mobridge shall
have the option to purchase said
plant, including all buildings, ma
chinery, zeal estate, pumps. poles,
wire, and all other fixtures by pay
Ing therefor the then actual cash
value OF the same, which value
shall be determined az follows:
The city shall appoint one ap-
praiser, and tie said grantee, IFS
successors and assigns, shall choose
and appraiser. and these two SO
chosen shall choose a third, and
the value of said plant as deter
mined by these appraisers shall be
the price the city shall pay for
such plant. In determining the
value of the plant, said appraisers
shall take into account the physical
value OF the property and it's earn
ing capacity. In ease Of q failure
OF the two first chosen to agree
upon a third, he shall be named
by the circuit judge Of the circuit
wherein Mobridge is located. Pro-
vided, howerer hat six months
notice of the exercise of the option
to purchase shall be given to said
grantee, its successors and assigns,
at all times during the life Of this
franchise, wherein sal city has and
option to purchase. Provided,
further, tbas it shall be unlawful
for the above grantee, the Mo-
bridge Electric light, Power and
Heating Company, to dispose of,
sell, or sign this franchise before
the electric light plant is completed
and installed, without the consent
of the city council Of the city Of
Mobridge. Provided further, that
this franchise shall take effect and
be in force from and after its pass
age, approval and publication,
upon the condition that the said
grantee, its successors and assigns,
shall within ter days after the pass
age and approval Of this franchise
file with the City Auditor of the
City of M~obridge, it's written ac-
ceptance Of the terms and condi-
tions herein contained, together
with a bond of sufficient sureties to
be accepted by the city in the sam
yf One Thousand Dollars $4,000
to show good faith for the con
struction of seid plant, said bond
to be released as SOC as sufficient
material is on the ground and work
commenced to insure the construc-
ton of such plant.
Section Is. That ali ordinances
and parts of ordinances in conflict
with this ordina ice are hereby re-
repealed.
Passed February 81, 1911.
Approved: p. p. Stoltzman,
Mayor.
Attest: Il. Il. Empey,
City Auditor.
Alderman Harris moved, duly
seconded by Alderman Larson, that
the ordinance granting a franchise
to Bert s. Hill and Gus Smith,
for the purpose of installing an
electric light power ond heating
plant in the city of Mobridge, be
passed.
On roll call the following alder
men voted aye: Harris, Nelson,
Larson, Clark, Hoard, Schueler.
Motion duly carried.
K. K. Empey,
City Auditor.