Honolulu star-bulletin. [volume] (Honolulu [Oahu, Hawaii]) 1912-2010, 1913-05-06

supplying such gas by laying pipes eonduits IN any OF
the streets roads, places within from and after
the date of approval of this BY the Congress of the United
States; and also if sufficient works completed and in
operation supply gas and if gas supplied within two
years after such commencement.
Section Mortgages Bonds The Association shall have
power mortgage the franchise hereby conferred the
payment of bonds other monetary obligations incurred in the
construction of buildings machinery pipes eondu and appur
and the manufacturing and supplying of pro-
vided by this Act.
SECTION g. Exemption from Taxation. All property of
every kind and nature forming used part of such
tenn including this franchise shall be exempt from any and all
under the Territory of Hawaii until the expiration OF
Seven CD years from and after the date of the approval OF
this Act by the Congress of the United States.
SECTION TO- On the day of July of each year there shall
be payable the Treasurer of the County of Hawaii for and
behalf of said county, per centum OF the gross receipts
of the Association for all gas furnished under the
terms of this Act during the preceding twelve 2 calendar
months.
SECTION H. The Association SHALL within month after
the expiration of each calendar year. file with the Board OF Sup
ervisor detailed statement showing all of its receipts and
expenditures during the preceding calendar year. and all of
its books papers, records and SHALL at all reasonable
times be open inspection by the Governor the Board and
their respective agents appointed for such purpose
kelss 49, .e>t~ .t<KxakNi
The Association shall not of the amount
paid therefor in cash and twenty-five thousand dollars add
ona shall issue bonds less than ninety per cent of
their par vaue and the entire proceeds of its stock and bonds
shall be applied TO capital expenditure.
No member of the Association any assignee
of the same and stakeholder officer thereof shall become
interested directly indirectly, any made by the
Association its asnees successors for the construction Of
any part of the work
sEcroN r. That this franchise may at any time be amend
ed repealed by the Congress of the United States by the
Legislature of the Territory of Hawaii with the approval of
the Congress of the United States and the rights privileges
and by this conferred shall be construed TO be
exclusive. Hf ssr
SECTION 49, That the Territory of Hawaii the County of
Hawaii, any political subdivision thereof within incud
ing the District of South Hio may any time after the
piraon of 0 years from the date of the passage of this
Act by the Congress of the United States and six months
notice in writing to the Association given pursuant to proper
authority acquire by purchase all the property Of the Assoca
on subject the then existing charges thereon The amount
be paid the Association for such purchase shall be detem
ned by Commission of three persons be appointed by
the Association it should fail to do within thirty
days after requested do by the purchaser then by the
Chief Justice of the Supreme Court of Hawaii by the
purchaser and the third by the two appointed in case
they should fail agree upon the third member within thirty
days. then by said Chief Justice but such amount shall in no
exceed the actual of the property and twenty cent
in addition thereto less the charges thereon
Either the Association the purchaser may appeal to the
Supreme Court of Hawaii from the decision of such commits
sion by filing written notice of appeal with the Commission
within FIVE days after the decision rendered 1t shall there
upon be the duty of the Commission Immediately certify
the Supreme Court the record of its proceedings showing in
such certificate the valuation claimed by the Association the
valuation claimed by the purchaser and the valuation de-
termined by the Commission Such certificate shall be accom-
panied by copies of all documents and evidence upon
which the decision of the Commission based and copy OF
such decision Upon any such appeal the Supreme Court may
in its behalf take require further evidence be introduced
by either party
Within six months after the determination of the purchase