The Richmond palladium and sun-telegram. [volume] (Richmond, Ind.) 1907-1939, 1912-06-03
A CONTRACT
PROPOSAL WAS SUB
MITTEO THE BOARD
Continued from Page One.)

cost OF the city, as often as the same
may be required by such Board of
Health, health officer, or other officer
aforesaid. All meters for measuring
water so furnished by the city, and all
meters for measuring water furnished
private consumers of its water, shall
be furnished and maintained by said
company without cost to said city, or
private consumers.
Section 21.-In consideration OF the
furnishing of hydrant service in the
matter of Are protection by said COM
,pany to said city, as provided heretin,
said city hereby agrees to rent from
said company two hundred and ninety
three fire hydrantsi located substantial
Iy as hydrants ow'located on the pres
.ent water mains of the Richmond City
Water Works in said city for a period
of --- years from and after
this contract Is ratified by the Com
mon Council, and said two hundred
land ninety-three hydrants have been
located and water for fire protection
furnished as herein provided, and to
pay as rental for each of said n.y.
drants the sum of --------- dollars
lments on the first day of May, and the
first day of November in each year;
provided, that If said city shall re-
iuuire more than three hundred and
twenty-five hydrants upon lines and
mains located substantially as the
present mains and lines of the Rich
mond City Water Works, if shall To-
cate the same and pay the cost of the
installation thereof to. said company,
which shall install said additional n.y.
drants at the actual cost of installa-
ton thereof, and said city shall not
pay any hydrant rental for said addi-
tional hydrants SO located upon said
existing lines; and provided further
that said city shall not pay hydrant
rental for twenty-nine hydrants locat-
ed substantially as twenty nine inter-
mediate hydrants now located on the
present water main of the Richmond
City Water Works. If said city shall
require intermediate hydrants upon
any extensions made of said mains of
said company, 1t shall locate same,
and pay the cost Of installation thereof
to said company, which shall install
tIal cost thereof, and said city shall
not pay any rental for said intermedi-
ate hydrants SO located, and provided
that the provisions of this section shall
cot affect the provisions of section
nine of this contract in reference to
the payment of rentals for hydrants
upon extensions made according to
the provisions thereof.
Section 22.-That the said company,
its successors and assigns, expressly
agree to sell water works to said city
at any time, at fair valuation, with
out bonus or per cent added. In case
the said parties cannot agree as to
the price to be paid said company, its
successors or assigns for said water
works, then said water works may be
purchased by said city at an appraised
value to be determined in the follow
ing manner: Two appraisers shall be
chosen by the city and two by the
company, all to be disinterested either
for the city or the company. In case
the city and the said company, its
successors and assigns, fail to agree
upon appraisers, then the Judge of the
plication of either party, appoint said
appraisers, and said appraisers shall
act under oath, and shall at their op-
tion, or at the request of either the
city or said company, examine non
reident experts under oath as to the
value of said property When the ma
jority of said appraisers fail to agree,
they shall appoint fifth, whose quail
flcations shall be the same as those
of the original appraisers.
It is further expressly agreed that
If during the terms of this contract
o Public Service Commission, or any
similar body shall be created under or
by virtue of any valid law or laws of
the State of Indiana herewith passed,
or the powers and duties generally ex-
ercised by such public service commits
sion shall be conferred on any COM
mission now existing under the laws of
the State of Indiana, the such public
service commission, or any similar
body hereafter created, or now exist
ing on which such powers may be con-
ferred, shall appraise and value said
water works In the same manner as
may pt pIONlucu ny Jaw LOT the Ndiud-
fion of other public utilities in the
State of Indiana by such commission.
When such appraisement shall have
been made as above provided, the city
shall pay said company, in case said
city shall determine to purchase, in
cash, the valuation so sxed within
.- months from the date
such appraisement is made. In case OF
purchase. the city shall perform all
diminished contracts for furnishing wa.
ter, and IL the said company shall
have received the consideration for
such contracts. there shall be deduct.
ed from the purchase price such pro-
portion of said consideration as the
unexpired term of such contracts shall
bear to the whole term.
Said company agrees that all bonds
issued by it and secured by mortgage
on said water works, shall contain an
option. providing that the city shall
have the right to purchase such bond
or bonds from the then holder or hold.
ers thereof. by paying therefor the
face value of such bond or bonds to-
gether with all accrued and unpaid in.
tereet
The city shall have the right to ex.
ercise it's option to so purchase said
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