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May 12, 1925 <br /> <br />You are authorized to select and employ your appraisers upon the same basis. <br /> Yours truly, <br /> <br />Barclay, City Attorney <br /> <br />~. B. Gamey, Atty. for Norfolk County., <br /> <br /> On motion, it was further Resolved, That the joint body now assembled approve and con- <br />firm the action_of the Committee and the Attorneys in the agreement entered into with the <br />United States Housing Oorporation, embodying instructions as to the meaning of certain terms <br />of the Ferry contract, to he.given to the arbitrators in the appraisal proceedings about to <br />be entered into by the arbitrators, as follows: <br /> <br /> "TEe appraisers are instructed that in appraising the property, :improvements, dredging, <br />betterments, engineering expenses, and other things represented by the property debt, to de- <br />termine the fair value thereof, they are not to consider the factor known and designated as <br />'going concern value~ but that they shall establish the value of the said property as of <br />July 2, 192~, without re~erence to the going concern value of the utility as a whole <br /> <br /> Provided, however, the appraisers in &soertaining the value of the aforesaid properties, <br />etc.', shall have due regard ~or the purposes for which they are adapted and now beingused." <br /> <br /> And on further motion, it was Resolved, That the special Joint 0ommittee is directed to <br />take all necessary steps to proceedwith the appraisal of the Ferries. <br /> <br />On motion, adjourned. <br /> <br /> <br />