Ashland tidings. [volume] (Ashland, Or.) 1876-1919, 1915-08-12
Ratification of Contract
With Power Company

said city as shall be necessary to pro-
vide for the payment of the interest
on all the bonds hereby authorized
as such interest shall become due and
payable, and to constitute and create
a sinking fund for the payment and
redemption of said bonds at matur-
ity, and are also authorized and en-
powered to provide by ordinance or
resolution at or before the time of
the issuance Of said bonds for the
levy of such taxes, and for the crea-
tion of such sinking fund and the re-
tirement of said bonds, and there is
hereby created special fund of said
city to be known as the Electric
Fund" which shall be kept by the
officers Of the city separate from
other funds now or hereafter Great
ed and there shall be kept in said
electric fund all income and moneys
which shall be paid to the city from
the sale of bonds; the sale of unus-
able and undesirable electric machin-
cry and apparatus and moneys re-
ceived from the sale and distribution
of electricity to the inhabitants of
the city, and there shall be paid out
of said fund by order or warrant of
the Common Council, or in accord
ance with the provisions of any con-
tract of the city, all moneys neces-
sary and proper for acquiring any
and all electric machinery and appa-
ratus; for the maintenance, enlarge
ment, extension and improvement Of
the electric plant of the city; all
amounts necessary to pay for the
purchase and acquisition of electric
| ity for the city under any contract
and in accordance with the terms
thereof; wages and salaries of em-
ployees engaged by the city in cleo
trical work and the operation of its
electric plant, interest on the bonds
hereby and heretofore authorized for
purchasing and acquiring an electric
plant and for the redemption of such
bonds.
That certain contract or agreement
between the city of Ashland, as party
of the first part, and California-Ore-
gon Power Company, as party Of the
second part, executed by the mayor
and recorder of the city in behalf of
the city of Ashland, and by the presi-
dent and secretary of the said COM
pany on behalf of said company, on
the 10th day of August, 1915 as au-
thorized by the Common Council OF
the city by resolution adopted on
the 10th day of August, 1915, and
all the terms and conditions thereof
as the same appear and are set forth
in said resolution of the Common
Council, be and the same is hereby
in all things ratified, adopted and
confirmed, and declared to be the
binding contract and obligation of
the city of Ashland and the Califor-
nia-Oregon Power Company"
The ballot title and number of
such measure will be as follows:
"An Act to amend the charter OF
the city of Ashland, = the same being
the act to incorporate said city filed
with the Secretary of State, October
IA, 1908, and the acts amendatory
thereof, by providing for an addition
al section to said charter and act to
be numbered 19a, providing for the
issuance of bonds of said city for the
purpose of constructing, acquiring,
enlarging and completing electric
light and power plant or plants; for
the creation of special electric light
fund and the control thereof, and to
adopt, ratify and confirm contract
between the city of Ashland and the
California-Oregon Power Company"