The Virginia enterprise. [volume] (Virginia, St. Louis County, Minn.) 1893-19??, 1913-05-02

port ionA hesei, pfovided foA ths purpose az
refundinE all bonds ISSUED for HE eon.truo-
fSs D 81 ses ths9soi, aa .n ~
shall IS covered Into the treasury of said city
s1ng er e.
QUESTION of any new bonds Of said city offered
porate in any grant OF the right TO construct
Or operate any public utility. reservation
ths III Fee sacb aus 70
n oeIore the expiration OF such grant upon such
terms and conditions as. may be provided in
IN any such grant. that in case such reserved
right b not exercised by the city and it shah
pubic Utility IN the ana parts
OF streets occupied by Its grantee under the
the pasc ay
city might have taken en'i e over and It shall
to make the grant containing ont such reserva,
ton for either the construction or operation
uy spon aens e s.
portions thereof. II which such public utility
| Is already located at the time Of making sucn
grant. without the petition or consent Of any
Of the owners Of the land abutting Or 'front.'
portion. thereof. covered by such grant.
No ordinance. authorizing. the lease Of any
public utility for any period. nor any ordi-
until the expiration ' q sixty days rs from and
after it's passage. And il, within said sixty
days. there is fled with the clerk Of such nc
for mayor. in such city, asking that such
then such ordinance shall not go. into. effect
unfess the question of the adoption OF such
Of sch c ST. pc % bv
tortty Of those voting. thereon. =
| The signatures Of such petition need not
shall add to his signature. which shall be in
bis own handwriting. his place Of residence.
giving the street and number :, One OF the
before an, officer. competent to administer
oaths that each signature to the paper ap-
name purports, to be thereto subscribed The
City Council Of any, city which shall decide
Of Its as gse 1f
shall have the power unless otherwise pro,
vided by law to make all needtul rules and
same. including the power to fix and prescribe
rates and charges. For the purpose of ac-
curing any such public utility either by ppr ~.
utility. and in addition to the cettiacates Of
Indebtedness provided for in Section hereof.
negotiable bonds to an amount not exceeding
faith and credit Of the City therefor; but I no
such bonds shall be issued until the question
hays Been OF By
! the electors voting thereon as provided for In
Section hereof, and then only upon q three
hfths vote Of the City Council or other gov
erning body. In the exercise of the powers,
OF, any Of them. granted by this act. anX such
hold any and ali FRANCHISE or franchises. and
necessary property. real. personal or mixed.
for the purposes specified in this act, either
provided by law for the taking and condemn
| ing of private property for public use. but in
Of any
such public utilities now operating under such
existing franchises shall any be included
as the value Of any earning power OF sucn
franchise granted by said city.
In case Of the leasing by, any city of any
shall be based on both the actual value Of
the tangible property and Of the franchise
not be less than a sufficient sum to meet the
annual interest upon all eut sta bonds
OF ssS sae pape u a said city on
Sec. 8. In addition to the bonds pledging
the faith and credit Of the city. as provided
for in Section Of this Act. any city may
Gates. which shall be lien or charge against
the public utility property for the acquisition
and shall be payable out Of the specified por-
ton OF the revenues or income to be derived
but which shall under der no
funds s thereof. nor shall such certificates Be-
city for any purpose. Such certificates. to-
gether with the bonds herenbefore provided
Utility property in an amount in excess Of the
cost to the city Of such property as herein
9be ten oEaer to Of
and tho interest thereon, the city may convey
all Of tho property thus acquired or to be &C
quired through the issue thereof; which mort
sue q a. directed BY the city
Gil and Acknowledged and recorded in the
manner provided by law for the acknowledge
tate. and may contain such conditions and
provisions not In conflict with the provisions
fully 's secSr: the payment Of the eefticates
described therein. Any such mortgage or deed
trust It may the OF
twenty (2o). years from and after the date
any person or corporation as result Of fore
closure proceedings; which privilege or right
a s Of
charge in tho operation of said property, for
q period not exceeding twenty years. When
ever. and often as default shall be made
lin the, payment Of such certificate issued or
secured Ny mortgage gas or deed Of IT, trust as g
thereon when due, and any such default shall
ao for the Ss S Of
to the mayor and financial officer Of the city
issuing such certificates it shall be lawful
| 1OT any buCI HAOA ASd8te VI trustee. upon Lne
request Of the holder or holders of ma
jority in amount Of the certificates issued
and outstanding under such a mortgage or deed
OF all such certificates as may be. outstand-
Ing. to be at once due and payable. and to
Of trust in any court Of competent jurisdiction.
At foreclosure sale. the mortgage or the
holders Of such certificates may S become the
privileges sold. If he or they be the highest
bidders. Any public utility acquired under
ha1 ho ia
lation by the corporate authorities Of the city
to tho same extent as If. the right to con-
struct, maintain and operate such property
Without the Intervention Of foreclosure pro
ceedings: provided, however. that no such
ever ever be issued by any city under the pro-
visions Of this act. unless and until the ques-
ton Of the adoption of the ordinance Of the
city council making provision Of the issue
thereof shall have first been submitted to a
popular vote and approved by q majority of
the qualified voters Of the city voting upon
SEQ. L. Every much city owning and op-
Grating any such public utility shall keep the
tne 81 other city @ and IN ac
manner as to show the true and complete
financial results Of such city ownership. or
Such accounts: shall be so kept as to show
| the actual cost to such city Of such public
utilities ss de-
Grating expenses Of. every description, In case
Of such city operation; the amount set aside
shall cause to be printed annually, for pubic
distribution, report showing the financial
results OF such city ownership. or ownership
and operation.
! Sec. 5. No city shall acquire or construct
any public utility Under the terms Of this
act unless the proposition to acquire or con-
struct same has first been submitted to the
qualified electors Of said city at a general
city election Or at a special election called
af a Cnti