HomeMy Public PortalAbout2279-1967 - Purchase certain electric facilities owned by Public Servicef -ORDINANCE NO..2279-1967
O1qTNANgE,TG.PJF4WAS CER MIN ELBCTAIC DISTRIBUTION FACILIMS'dWNED BY THE PUBLIC
SERVICE OF INDIANA.
WHEREAS, the City of Richmond, Indiana (hereinafter called "this City") is the
oaner'of and operates the electric utility facilities in and adjacent to this City,
and
wwgA8, Public Service Indiana (hereinafter called "Service Company") an Indiana
corporation, is;te owner of and operates certain electric facilities hereinafter
the "Su'b• lct. Pro ..0 party"), hereinafter more particularly described in the
cbntra`ct out 'in the fourth preamble of this Ordinance, located in and adjacent
tb`thia ity acid has offered to sell the same to this City, and
WHEREAS, The Common Council of this City has the power under the Lays of the State
of'Indiana to authorize 'the purchase of the,,.Subject Property,.and
WHEREAS, the Common Council of this City deems. -it desirable that this City purchase.
the Subject Propertys"and Service Company has made to this City a written offer
to ell Subject Property upon the terns and conditions of the attached proposed
contract marked Exhibit 1, and
WHEREAS, the Common Council of this City believes that it is in the best interests
of this City, and of the electric consumers served by it, that the proposed contras
be made and entered into, and that, if the conditions for the consummation of the
purchase therein provided for can be met, the Subject Property be purchased from
Service Company pursuant to the terms thereof;
NOW THEREFORE, BE IT ORDAINED by the Common Council of this City that:
SECTION 1. The City shall and it does hereby accept the aforesaid offer to sell
the Subject Property which has been made by Service Company, and that the City shal
through its duly Qualified, constituted and acting Board of Public Works and Safety
of this City, deliver the proposed Contract for and on behalf of this City.
SECTION 2. The Board of Directors of the Richmond Power and Light Company, of this
City, which is the governing body of the municipally -owned utilities of this City,
be and it is hereby authorized to use so much of the Utility Depreciation Fund of
this City as is necessary to purchase the Subject Property from Service Company
under and pursuant to the terms of the proposed Contract.
SECTION 3. kThe Board of Public Works and Safety of this City be and they are
hereby suthofized, empowered ohd..directed to take or cause to be taken all steps
necessary, or in the opinion of the Board of Directors of the Richmond Power and
Light Company of this City, desirable, in order that the obligations of the
proposed Contract may be fulfilled and that the Subject Property m.y, at the
earliest practicable date, be purchased by this City under and pursuant to the
terms of the proposed Contract.
SECTION 4. This Ordinance is passed upon the same day and at the same meeting
at which it is introduced and it is passed by the unanimous consent of all of the
members of the Common Council of this City present and there are present and votin4,
at least two-thirds of the members elect of the Common Council of this City.
SECTION 9. This Ordinance shall be in full force and effect from and after its
passage.
PASSED by he Common Council of the City of Richmond, Indiana, this _ 1�.day
of 1967.
0 �) ;��
sident, n ell
Attest: 1, Q1_1
City Clsr
PRESENTED to the Mayor of said City for his approval thi
ty
APPROVED AND SIGNED by me thisg-4day of
57.
79 at L6; Q4��J
Attests
City C1 a