HomeMy Public PortalAbout08-03-1911 (11) Richmond City Water Works Bid for Water Supply for the City of Richmond476- 1'.,
N, F.id, bori'tld'.,
said rates shall be increased by said water works so as to provide
for suer return,
All settlements between said water works & said city shall be
made on the 1st day of July of each year, and all revenues due the
city as stated herein shall be paid to the city treasurer on or
before tre 201h day of July of each year,
Said water works shall furnish said city with a full report of
its financial condition at' the end of each fiscal year, to -,pit:,
the jet day of JunY, and shall permit the city to exam"111 its books
and records in reference to its income and expinditures, for the
purpose of verifying said reports,'
If, at the and of any fiscal year, the valuation shall show an
Increase in the value of said plant & system, the said water works
shall have the right to issue additional stock to the extent of
suer increase in valuation, and the city shall have the right of
gsrcrzeing at par all or any part of such stock within 60 days after
the sane Is issued, Said additional stock shall be of the same kind
and eenominations & be issued under same terms and conditions as
the other stock of said water works, excepting that said additional
stock shall not have any voting power if issued to, or acquired by
said city, until said bity shall purchase the entire plant & system
of said water works, as provided herein: provided however, that said
stock shall, from date of issue, receive dividends from revenues of
said water works on the same terms as said other stock,
Said city shall have the right' at anu time to purchase the plant
and system of said water works, upon giving at least 6 months notice
In writing Of its intention so to do, at a fair valuation, consid-
ering said plant & system as a going concern, to be -determined in
the following manner, to -wit: by 3 competent & disinterested water
works engines, who shall be non-residents of said city, one of
said engineers to be selected by the city, one to be selected by
said water works & the third to be selected by the 2 engineers so
selected. In case of failure of said 2 engineers selected by said
city & said water works to agree Up on a•3rd member, the judge of
the Wayne Circuit Court of -Indiana shall select such third engineer,
and the 3 Shall then proceed to iaake a valuation of said plant &
system, Said comittee of appraisers shall as for as possible com-
Ply with the provisions of this ordinance in fixing the valuation of
said pJMt & system, Upon the delivery of duplicate copies of a writ
ter, award signed by 2 of said cor"ttee of appraisers fixing the
clerk of said plant & syatem, as provided to reini�
rk of to the city
of said city & to said water works said award shall ll be con-
clusive between- said city �� said water works & shall be taker, as the
true & correct valuation of said plant &-system for the year when
tire: Provided however, that said valuation shall be made at-.tbe ..
Lase ;r'ren said purchase is made. Said purchase shall be made 1'or
sai & said city shall pay to said water works the amount fixed by
Said valuation, with 6N'interest thereon per an^um from the date of
�haied appraise ment & within.3 months from the date ther�Of, less
Par value of any stock which may be owned by said city at said
sham r< the amount of the bonded indebtedness of said rater works, &
edaln, in addition thereto, assume arts agree to pay all of the bond -
City note Of said water Works: and if, for any reason, said
shall be able to legally assume & agree to pay Said bonded
indebtedness, then said city shall not have the right to Purarase
t
-1�t system of said water ;corks,
R, C, W, We Bldg ^,ont'd,, 476 - 1F,.
In case o1 yurohase, tt.e city stall perform all
contracts for iZirnlahing water, and if said rater wort..
feoelved the considerations for such contracts, there s:.
ducted from said purchase money such proportion of safe
ation as the unexpired term of such contracts ahali bear
,hole term.
SECTIoN 7-ve
Said Water works shall, iG It desires to ac--ept the terms of
this amendatory ordinance, file with the clerk of said city a writ-
ten acceptance of the terms, obligations & conditions thereof,with.
in 90 days fror" the adoption thereof by said city, and upon said
aeceptLT.Ce -�y said Water works as aforesaid, said ordinance shall
oratess&iotute theratermsr&ee nditionsbetween scontainedcity 9xtheereinater Works as
It is expressly agreed that all agreements contained in this
ordinance betwPPn said city & said water works shall not extend
for more than 25 years from the date of the adoption & acceptance
of this ordinance, as herein provided. It is further works thatynoth-
underatccd & agreed between said city & said watertion
Sng herein contained shall limit or affect the ddura afn,ounder the
right & privilege of said water works to lay & trcroa6lfares in
surface of the streets, alleys, lanes, avenues the supply of ,rater
Said city of Richmond, waft r pipes &mains a certain
to said city & the citizens thereof, as granted to 1� An ordinance
ordinance ordained FebruaT'Y 167 1885, and entitleo cation duly r-
o_
authorizingthe Richmond City Y,ater ";orks, a COo construct, main
-
to under the lays of the State ofed& Rholesom water to the
twin & operate Water Works, & supply
de Pure
the powers, privileges,
citizens & City of Richmond, and defining
rights & duties of said Company*"
SECTION XVI• �4 ad .35 of
That Sections 1.", 15 16, 24, 25+ 27, .31and2Sections 4, 7 and
Said ordinance sna d all amendments thereto, reveal 1ion "An
Of an ordinance entitled, " An ordinance an°oance an�pZpopation
0rdinaneearlind tions ay.tho1l�ing� the�fiiehmondC)6 arid 3city of Indiwater ana+ thol omeowater°t
IDaf�ulntaQrrgranioedrateer the laws of the supply pane & wt Febrers, lstr
works, an defining uarY
to the citizens and City Of Richnondompany+� °rdahesewith,, the
vile rights and duties of said co
to, be and
' all amendj7e
1885re
, and to provide for Other allttea Zts the
ordained September 219 1892,
Same are hereby repealed•
SECTION XVII. affect from and after
a r
In force anddc0 Richmond
Ater Works
Its This ordinance the
shall beunall oP the and City
adoption by the city the Richm
Soceptanee thereof in Writing by city•
duly filed 4rrith the clerk of said