St. Johns review. (Saint Johns, Or.) 1904-current, 1911-02-10

Gifted annual payment of money, but
this provision shall not exempt the
property of the said Mount Hood Rail
way & Power Company, its successors
or assigns, from lawful taxation. Each
Of the annual payments of money re-
quired by thio section, shall be made
by the said Mount Hood Railway &
Power Company, its successors or as
signs. to the Recorder OF the City Of
St Johns on or before the 18th day
of January OF each year for the preced-
ing year, and said Recorder shall issue
his receipt therefor which shall be a
full acquitiance of the said Mount Hood
Railway & Power Company, its Sue
cessors or assigns for such payment.
AT such time, the grantee herein. its
successors or assigns, shall file with the
City Recorder, certified statement
showing the gross earnings OF the Com
pany, transacted in the City of St.
Johns for the past year and the Re
corder for said city shall have access
to the books of the said company dur
ing the business hours Of any business
day, for the purpose of verifying said
report. Should said Mount Hood Rail
way & Power Company its successors
800 days after the same becomes due
and payable and after written notice
from the City of St. Johns to pay the
same. to pay any OF the said annual
payments, provided for in this section.
the City Of St. Johns, by its properly
constituted authorities, shall have the
right to collect said overdue payments
from the said Mount Hood Railway &
Power Company, its successors or as
signs by a suit or action, and shall have
a lien upon its property and franchise
hereby granted for the payment Of the
same.
Fourth. That upon the expiration OF
the period for which this franchise is.
granted. the City of st. Johns reserves
the right. at It's election and upon pay
ment therefor by fair valuation there
Of to be made and determined as here
matter provided, to purchase as an en-
tircty and take over TO itself all that
portion Of the plant and property Of the
said Mount Hood Railway & Power
Company. It's successors or assigns.
which may be situated in, above and
under the streets. avenues highways
and public places of the City Of ST.
Johns. provided. however. that before
the City of ST. Johns shall have au-
ihoriiy 10 purchase or take over such
plant or property. the question whether
or not the city shall acquire or take
over the said plant or property. shall
first be submitted to the voters Of the
city at the regular election for city Of.
ficcrs next preceding the expiration Of
the period for which this franchise is
granted. or at n special election held
therefor and the affirmative vote Of At
least two-thirds OF the electors voting
at such election shall be necessary TO
the acquisition OF such plant
and property by the city. In detcrmin-
ing the valuation Of such plant and
to be purchased and taken
over by the city. there shall be excluded
thcrefrom any value of franchise or
rights of way. derived from the City OF
ST. Johns 10 maintain and operate such
plants and property. but there shall be
included in such valuation the value
Of all arc lights. incandcsccnt lights
poles. wires. underground conduils |
overhead wires, cables aud conduits and |
material and property which said Mount |
Hood Railway & Power Company, is
successors or assigns. may have put |
INTO, upon, over or under the streets |
alleys, avenues, highways and public
places of the city, and the said plant |
The price or valuation Ia be paid by |
he City of ST Johns for the said prop
'rty shall be fixed and determined by /
hrec (3) arbilrators consisting Of three |
circuit Judges Of the Circuit Court OF
he State Of Oregon for Multnomah |
County, and II said Judges or any OF
hem refuse 10 act as such arbitrator,
he city shall select one arbitrator, the
grantee another and these two shall
elect third. which aghitrators so
elected shall possess qualifications OF
Juror in the Circuit Court Of Oregon
or the County Of Multnomah. and the
leciSion in writing II the three arbi
rators so selected or majority OF
hem. made In duplicate and signed by
hem. one to be delivered to the Mayor
II the City Of ST. Johns and the other
O the Mount Hood Railway & Power
-ompany, It's successors or assigns, the
aid price and valuation shall be paid
o the said Mount Hood Railway &
Power Company, its successors and as
igns, before the said Mount Hood
Railway 4 Power Company. lis success.
ors or assigns shall he deprived OF the
possession Of the right To maintain
'perate and enjoy the said plant and
property; and upon the payment hy the
iy to the said Mount Hood Railway
Power Company. It's successors or
signs. of such price and valuation So
as aforesaid. said plant and
property SO valued. purchased. and paid
or shall become the property of the
lily Of st. Johns by virtue thereof and
ayment as aforesaid and without the
Necution of anv instrument OF convey
nee. III the City Of ST. Johns shall
lect not to acquire the said plant and
ronerty OF shall not purchase the same,
nd the city shall elect 10 grant a new
2 additional franchise in lieu of the
Npired franchise hy this Ordinance
ranted. ON application made hy the said
iount Hood Railway x Power Com
any, its successors or assigns, for such
ew or additional franchise. then and in
lat ease, the said Mount Hood Railway
Power Company. its successors or
'signs shall have the first and prefer
ltial right to take and receive such new
ldit0nal franchise. and IL the said CITY
81. Johns, oF the Mount Hood Rail
ay 4 Power Company. its successors
T assigns do not take such new or adj
tional franchise. but the same is after
eir election not to take the same
'anted by the city to any other cor
'ration, associations. firm or individ-
i or individuals, then, in that case, such
her corporation, association. firm in
vidual or individuals taking such new ,
additional franchise shall in addition !.
the compensation to he paid 10 the !
" for such new or additional fran I
Use pay to the said Mount Hood {
'ilway \ Power Company its success
RS or assigns. or TO the City of ST
hnS, in trust for the said Mount Hood
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