Geauga record. [volume] (Chardon, Geauga County, Ohio) 1952-1962, 1954-07-08

out Of or resulting from tn e
exercise and use by the gran
tee of any of the rights hereby
granted to it.
Section G.: For a period of
ten years after the taking eff
feet of this franchise the gran
tee may charge for supplying
the service of said utility to
the Municipality and inhabit-
ants thereof rates equivalent to
the highest schedule of rates
in effect under the Municipal
ity'S operation of said utility
during the period from tn e
granting of this franchise to
the effective date of this fran
chise, increased by ten percent.
The payments to be made by
said Municipality to said gran
tee for services or products Of
the Utility to be furnished to
said Municipality shall be paid
to the grantee semi-annually on
or before the tenth days of June
and December in each year dur
ing the term of this contract;
and in order to provide means
for the payment of all amounts
to be paid by said Municipal
ity under this contract, tn e
said Municipality in its annual
budget and taxation and ap-
preparation ordinances eac h
year during the term of this
contract, obligates itself TO in
clude and levy a sufficient sum
on all the taxable property in
said Municipality to pay for
such services. or products, the
proceeds of which levy shall be
placed in a separate fund and
which taxes, when collected,
shall be held inviolate for that
purpose.
Section H: In the event that
the above rates (Which are
minimum rates not maXiun
rates., shall prove insufficient
to provide revenues yielding,
after meeting operating and
maintenance charges in amount
consistent with sound manage
ment and commensurate with
the services required by t h
Municipality, an annual return
of approximately six per cent
on the reasonable value of the
utility, including a reasonable
allowance for depreciation, plus
the cost of bettermentS, improve
ments and extensions, less de-
probation thereon, as m ay
have been required or approx
ed by the Municipality, tn e
Municipality, by appropriate Or
dinanceS, shall raise such rates,
or approve and authorize ac-
ton of the grantee raising such
rates, sufficiently to produce
such return in the manner re-
quired by any applicable law,
but the duty Of the Municipal
ity to raise, or to approve and
authorize the grantee to raise
such rates shall arise forthwith
upon the request of the gran
! tee, any law to the contrary
g.! Notwithstanding. In the event
such action by the Municipal
ity is not taken, complaint may
be filed to the Public Utilities
7 Commission or its successors il
J. office and proceedings had be
: fore said commission as pro
2 Vided in Sections 49O934 to 1909
= 81 inclusive Of the Revised Code
] Of Ohio. The grantees right Il
1 complain to said commission
shall be cumulative to its right
! to enforce the performance Of
the above imposed duty on the
. Municipality under the proVis.
= ions of Section 2731.O1 ct seq,
OF the Revised Code Of Ohio
Section I: For the second
ten-year period of this fran
: chiSe, the rates to be charged
by said grantee shall be fixed
by the Council Of said Munich
pality by and with the consent
of the grantee or in the event
of the inability of the City and
grantee to agree, shall be such
as may be fixed or determined
in accordance with the provis-
ions of the Revised Code OF
Ohio, including Sections 1909. 16
to 4909.19 thereof, but, in any
event, the rates shall be such
as to produce to the grantee
the same return as provided
in Section H hereof.
Section j: The grantee shall
keep all records and accounts
of the utility in such form as
shall be prescribed by t n e
Public Utilities Commission of
Ohio, subject always to t h e
right of Council of the Munich
pality to require more detail
ed forms and to exact m or e
comprehensive statements than
may be prescribed by said
Commission. The Municipality
shall at all times have access
to and opportunity for inspect
ing all properties of the utility
and auditing, examining a n d
keeping copies of all records
and accounts in any way per-
tanning to the ownership or op-
Grafton of the Utility, together
with the right to require CT the
grantee at any time detailed
reports relating to the finances,
operation, management and