Ashland tidings. [volume] (Ashland, Or.) 1876-1919, 1915-08-12
AGREEMENT.


municipal corporation, organized
under the laws of the State of Ore
gon, hereinafter called and designat-
ed the City, party of the first part,
and California-Oreg Power Com
pany, a corporation organized under
the laws Of the State of California,
hereinafter called and designated the
Company, party of the second part.
Whereas, the City is the owner of,
and engaged in operating an electric
generating station, and system of
poles and wires for distribution of
electric current in and throughout
the said City, and is desirous of ex-
tending its distributing system and
acquiring all OF the electrical bust
ness within said City; and
Whereas, the Company is the own
er of such of the stock of the said
Ashland Electric Power & Light
Company that it car procure the sale
of said electric plant and distribut-
ing system, appliances and parapher-
MALTA; and
Whereas, it is the desire on the
part of the said City to purchase the
electrical plant and distributing sys-
TEN of the Ashland Electric Power &
Light Company and of operating
same in conjunction with and in I'd
'dition to the plant of the City, and
thereby acquire and have the entire
and exclusive distribution and sale
of electricity in said City; and
Whereas, the generating plant OF
the City is not of sufficient capacity
to generate all the power necessary
for distribution and sale in said City,
and it is the desire of said City to
acquire by purchase, additional cleo
tricity from the Company for the
purpose of supplying all needs AID
demands Of the City and its inhabit-
ants for electricity for any and all
purposes; and
Whereas, it is tho mutual desire Of
the City and the Company to enter
into an agreement carrying out the
express wishes and desires of the
City and Company with relation to
the sale by the said Company OF the
electric plant and distributing sys-
ten OF the Ashland Electric Power
& Light Company, and the sale OF
electric power necessary to supply
the needs and demands OF the City;
Now, therefore, these presents wit
nesseth:
That for and in consideration OF
the premises and the several mutual
promises, covenants and agreements
of the parties hereto, it is mutually
agreed by and between the City OF
Ashland, the party of the first part,
and California-Oregon Power Com
pany, the party Of the second part:
The Company agrees TO cause the
Ashland Electric Power q Light
Company to sell to the City and the
City agrees to purchase such part OF
the poles, wires, property and equip
ment of the Ashland Electric Power
& Light Company within said City,
as the said City may determine upon,
free and clear of all membranes,
for constructing, extending or estab-
fishing its electric distributing sys-
TEN in said City, in addition to the
system the said City has installed
and in operation, the same to be
selected by the officers of said City
within ninety 900 days from the
signing and ensealing of these pres
ents. and when SO selected and deter
mined upon, the price therefor snail
be determined by mutual agreement
between the officers of the City and
of the Company, and if they are un-
able to so agree upon such value ana
price, then the same is to be liked
and established by and in accordance
with the rules established by the
Railroad Commission of Oregon in
determining the valuation of the
physical properties of public utili-
ties throughout the State of Oregon.
If upon making such selection OF
poles, wires and other property Dy
the City, the same shall not include
all of the poles, wires and other prop,
erty heretofore used by the Ashland
Electric Power & Light Company in
said City, the said Ashland Electric
Power & Light Company, or the
Company, shall within six CD
months from the ratification of this
agreement take down and remove
such part or portion of such distrip-
uting system, poles, wires and appa-
Tatus.
The City hereby agrees to call a
special election of the qualified Vot-
ers of the said City and to submit
to them for authorization, PROPOSE
tion to issue negotiable bonds of the
City, payable by it at its option IN
from six CD to fifteen (15) years
after issue and sale, and to draw in
terest at per cent per annum, pay,
able semi-annually, and to 90 anu
perform all necessary acts and Things
in the premises as shall cause the
said issue of bonds to be valid and
binding obligation of the City, and
if the said issue of bonds shall be
authorized by the voters OF said CITY,
when the same are advertised Tor
sale. in accordance with the charter
and ordinances of said City, and the
same shall be sold for cash in hand,
the City will thereupon Immediately
nav to the Company for and on ac-
count of the Ashland Electric Power
& Light Company such sum as may
be found due in payment for the
poles, wires and property of the Ash
land Electric Power & Light Com
pany. as may be purchased by the
City. but in the event that upon the
advertisement and offer of sale OF
said bonds no cash bid shall be Of
fered therefor at par and accrued
interest, then such thereof as shall
be necessary at par and accrued in
terest to liquidate the said indebted