The Hawaiian gazette. [volume] (Honolulu [Oahu, Hawaii]) 1865-1918, 1915-10-22

year to aid the Hilo Traction Company,
Limited, in establishing and operating
its transportation system and contrib
uting to its capital OF credit such ex,
cess income as may be derived, above
its own power needs, from power TO
be sold as indicated. p q +
Free For Ten Years -".:S..
IAN this that the Territory after
ten years and for the subsequent TWEEN.
ty years, and construetively thereafter,
may receive the full power value OF
the water under consideration.
"The administration is prepared to
recommend to the land commissioner
and the land board that the rights Of
the government in the waters of the
Waikiki River in South Hilo district,
Island Of Hawaii, as existing between
the approximate elevation Of 900 to
$50 feet sole intakes and approximate
4l0 feet above sea level sole discharge
s,dll be leased to the Hilo Traction
Company, limited, or their successors,
for the term of thirty years, it being
stipulated the water in question shall
be taken for power and lighting pur-
turned TO the river, unpoluted, at the
point of discharge named.
1.-THE license shall cover a period
of thirty years.
For the first ten years the Hilo
Traction Company, Limited, shall pay
the government one dollar per year.
ITO whomsoever is concerned it shall
pay six per cent per annum, payable
semi annually, on the cost Of the power
and electric generating plant. The cleo
trc current shall be delivered to the
transmission line or lines at the gen
Grating plant. 81.
Current to Be Metered
IAN current delivered to the Hilo
Traction Company, Limited, shall be
metered at the generating plant and
all other current sold or otherwise de
livered shall be separately metered at
the same point.
There shall be set aside q sinking
fund annually equivalent to the annual
requirements Of such O fund as may
discharge to cost Of the power and
electric generating plant at the end of
thirty years on the basis of four per
cent interest per annum on sinking
funds.
after the first ten years as speci.
fed there shall be paid to the terri
torial government, semi-annually, the
income derived from the. electric cur
rent as metered and delivered on said
transmission line or lines based on the
cost of said electric current per kilO-
watt when generated by power other
than water power.
"The cost of so generating shall be
determined by the cost of electric cur
rent within the Territory of Hawaii
produced by a prime mover other than
water power, due consideration being
given to the decreasing factor in the
cost of larger production Of electric
current as against a smaller production.
Determine Cost Every Five'Years
"The cost of the electric current
shall be determined every five years,
or oftener should equity so require,
by board of three appraisers appoint
ed by the governor.
inspection of meters and records
shall always be open to the inspection
of the government. s.. a..
1.-THE construction of at least one
such plant and pipe line of a perma-
nent nature with all modern equipment
for the generation of electric current
of at least two hundred and fifty kilO-
watts capacity-either continuous or
alternating current or both as the Ii
censee may determine-shall be begun
Ivy the licensee within two years from
the date of this indenture, and be dill
gently proceeded with until completed
provided that if there shall be any
period during which such work shall
be suspended by reason of actions, suits
or injunctions, instituted in good faith
without any collision on the part of
the licensee impeding or delaying con
struction, the time so lost shall not
be counted as part of the time within
which such construction shall be begun
and completed.
Two-Year Forfeiture Clause
lin case of failure to begin the con
struction of at least one such plant
and pipe line within two years from
the date of this indenture as in this
section provided this license and all
rights, privileges and authorities herein
granted shall upon the expiration Of
such time cease and determine.
81 now leave the matter for the
consideration Of the band board and
land commissioner, concludes the Gov
ernor in his letter to the board and
the commits Oner.