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Home My Public Portal About07-27-1911 (4) Campfield Co. Bid for Water Supply for the City of Richmond474 - 6. Edwin M. Campfield, Co., Bid for Water Sipuly, continued. Said city to agree to purchase and purchase $50,000.00 of the said preferred stock upon the organization of said company at par in cash, at the time, and ggree to purchase and purchase, at the end of each and every year from the date of the issue of said bonds, $n0 o2c.JO par value of said common stock, at par, so deposited in the hands of said trust company, which amount said trust company shall apply in the payment of the maturing $31,JJJ.GO of bonds the accrued Interest thereon to be paid by the water works company at the same time: and which bonds were so taken up and cancelled shall be delivered with said $Al,000.00 par value of said common stock to said city until said coarron stock and bonds are exhausted. After said common stock is thus exhausted the last payments atrounting to $150,000, shall entitle said city to tie rer..aining $150,000, of preferred stock, but said preferred stock shall not be delivered until said bonds are all taken up & redeemed and all extensions paid for or secured or otherwise pro- vided for as My be agreed upon between the company and the city at the tine said extensions are made or at the final consuration of said purchase. During all the time of this contract said city as the holder of said $50,000, of preferred stock shall be entit- led to one relresentative on the board of directors which shall not exceed five In number and said sity shall have one-fourth vote in all stook holders meetings and shall be entitled to one-fourth Of the profits of said company. In case it shall become necessary to make any extensions or Improvements to said system of water works during the period of this contract, the said City shall have the first right and priv- ilege to make the same at her own expense and in the event the said city shall so elect to rake such extensions or improvements at her own expense, the same shall not be taken into account nor added to the purchase price of the plant but shall be considered, as already the property of the city. But in case said city shall determine not to make any or all of extensions or Improvements th,^ same shall be r_ade by the company and the cost thereof shall_ be added to the price of said laant at the end of said period of twenty-five years and paid for in cash by the city at the final corsu=ation of said purchase or shall be covered by bonds of the city or otherwise provided for as may be agreed upon between the city and company at the time. The extensions and lMrovP.ments here- in referred to shall relate to such extensionz and improvements the coat whereof shall amount to or exceed the sum of one thous- and dollars ($1,0000), All lesser extensions and improvements shall be made by the company. In case the contract shall be awarded the undersigned and be- fore any work of construction is begun the undersigned or the cOm- paEy organized to Lake over and carry out said contract as 1;erein Provided will prepare and submit to the Board of Public Works of said city full and complete plans and specifications in detail fully setting forth the system of water mains and pipes, kind & location of hydrants and valves, construction &•location of 1hA reeevoir, pumping station and equipment source of water supply, Infiltration galleries and all other construetions an6 equipment necessary to a complete system of water works for the price desig' hated. After Board and all aid plans & specifications are examined by Salo d elteratlons and changes made therein as may be agrei said between said Board and said Competty, corrected duplicates of x,,,,_ plans 1-aifications Ahall be prepared and signed by said -nY and the construction & equips^"'t of said Edwin Y. Campfield, Oo., 474 - 7. Bid for Water Supply, continued, plant ona system of water works shall be a.ade In accordance therewith. Said company shall ez^cute to said city a surety company bond in the sum of one hundred thousand dollars to the approval of the Board of Public Works for the faithful construct- ion and equipment of sale plant and system of water works In accordance with said plans and specifications which bond w*an said water system in completed and accepted by the city shall be cancelled. Upon the completion of said system of water works and before the same is put goodand sufficient Sureympany bond t into tatter rcohto all furnish to the city a the approval of the Board of Public Work�Ces� Of Ora said�d red thousand dollars for the faithful D contract with the city and the fullfilment of all the conditions of its franchise. If the undersigned shall be auecesful bidders herein the city as a part of this contract to be entered into successors horfas- shall transfer and assign to the 001t y+ Signs, organized and incorporated to affectionate apresent water and Derry Out khe same, the said city's right to purchase the law and in the ordifarce fo Works works plant and system as providedLOYRichmond City fined on4therl6thtday ofPd by FebruarYd1885yand amendments thereetoe=sand shall eaecute such D peer sue+ September 21, 1892: end the sLPpg and Proceedings to render advis- tane any and all necessary n Hase srath,, be water right and privilege effective, 1 acquire able to purchase, B ase or otherwl •ssors or as - works system. Pd a is suca. es k The city to grant to the undersl€T�, ys, lanes,urptreets, the Posa Of layinf other publicchise to use thorouitsghfaresninssaid9ctherein to sy for uPly otherirl8ht' the citizensmaintaining thhereofpWith waterra8T1dand PTOpeTseffe° notlanto a the and privileges as may be necesTo isions of the eontr carry out the conditions ano p franchise. with the Orde�e al�rts rePared Ks that will TtheacitysmaY ptrirol-ase th, years posal is?water °sndro itseDy nt 00 L�eertir Until Ou and ibecome tits bothPinithebmanagemetio and city' "Id the rest' Plant is acquired aT ' turneLhavlOse West and 0 theer ur rPuro' ireo to of e or larl and theIf ocity doesater rnotsare de ire edo narrer poniscnebOt;user tPt° rent Plant by inforstalln'nts in of the Plaslike fair ate a diffetre basis arriingcommercially thp rPractice willing to ne�ois Parties, the undersigned method of purchase•