Madison County Democrat. (London, Ohio) 19??-1958, 1950-07-21

highest schedule Of rates in effect
under the Villages operation of
said utility during the period from
August 1, 1850 to the effective date
OF this franchise, increased BY ten
per cent.
The payments to be made by said
Village to said grantee for water
to be furnished to said Village shall
be paid To the grantee sem annually
ton or before the tenth days of
June and December in each year
during the term Of this contract;
4 and in order to provide means for
I the payment of all amounts to be
4 paid by said Village under this con-
4 tract. the said Village in its an
nual budget and taxation and ap-
preparation ordinances each year
4 during the term Of this contract,
( obigates itself to include and levy
a sufficient sum on all the taxable
property in said Village TO pay for
I water consumed by it and hydrant
rentals, the proceeds Of which, levy
shall be placed in a fund To be
designated as the ''Naterw orks
Fund" and which taxes, when col
lected, shall be held inYiolate for
that purpose.
I Sectfos Fl: In the event that the
above rates, which are minimum
rates not maximum rates. shall
prove insufficient To provide rev.
! enues yielding. after meeting OPP
Grating and maintenance charges in
amount consistent with sound man
agement and commensurate with
the service required by the Village,
an annual return Of approximately
six per cent on the reasonable value
of the utility, including a reason
able allowance for depreciation,
plus the cost of betterments, i'm
provements and extensions, less de-
probation thereon, as may have
been required or approved by the
Village, the Village. by appropriate
ordinances, shall raise such rates
sufficiently to produce such re-
turn. as provided in Section 614-44
of the General Code of Ohio. eX-
for said Village TO wait until one
year before the expiration of said
period, but the duty to increase
shall ARISE upon the request Of the
grantee forthwith, whereupon, in
the event that such action by the
Village is not taken, complaint may
be filed to the Public Utilities Com
mission or it's successors in Of
flee and proceedings had before
said commission as provided in
Section 614-44 ct seq. of the Cen
eral Code OF Ohio. The grantees
right to complain to said com
mission shall be cumulative to its
right to enforce the performance
of the above imposed duty on the
Village under the provisions OF
Section 122S3 of the General Code
of Ohio.
Section 1:For the second ten-year
period of this franchise, the rates
to be charged by said grantee shall
be fixed by the Council of said
10 h4, nd wi hn -
the grantee or in the event of the
inability of the Village and grantee
/ to agree. shall be such as may be
fixed OF determined in accordance
with the provisions Of the General
Code of Ohio, including Sections
61420 and 614S2 thereof, but, in
any event, the rates shall be such
as TO produce to the grantee the
same return as provided in Section
III hereof.
Section ]: The grantee snau keer
all records and accounts of the
utility in such form as shall be
prescribed by the Public Utilities
Commission of Ohio, subject always
to the right of Council of the Viii
lage to require more detailed forms
and to exact more comprehensive
statements than may be prescribed
by said Commission. The Village
: shall at all times have access rC
and opportunity for inspecting al
properties of the Utility and audit
ing, examining and keeping copie:
of all records and accounts in any
way pertaining to the ownership ol
operation of the utility. togethel
with the right to require Of th'
: grantee at any time detailed re
ports relating to the finances, op
Grafton, management and owner
: ship thereof. The Village shall hav,
the further right to establish stand
ards of service TO prevent unjuS
/ discrimination in service or rates
; and to require adequate extension
2 of plant. equipment and service.
Section X: No rights hereil
granted to the grantee to construct
2 maintain, or operate said water