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August 29, 1918
<br />
<br />315
<br />
<br />At a special meeting of the City Council August 29th there were present:
<br />
<br /> Messrs-- T. A. Bunting, N. P. Claud, W. H. Culpepper,
<br /> C. D. Deans, J. T. Hanvey, C. H. Herbert,
<br /> E. H. ~iright,
<br /> Also the City Manager.
<br />
<br />The following di~eetions were read for the special meeting:
<br />
<br />Portsmouth,
<br />
<br /> "~. L. C. Brin$on,
<br /> ~'City Clerk & Auditor,
<br /> "City.
<br /> "Dear Sir:--
<br /> ~ou will please
<br />Aunt 29th: 8 o'clock P.
<br />on valuation of ~e P. B.
<br />
<br />Va., August 28, 1918.
<br />
<br /> call a special meeting o~ the City Co,3neil for Thursday,
<br />~., for the purpose of receiving a report fr~ the Boa~d of arb_trators' ~
<br />& S. Water Co.
<br />
<br />"Ver~ respectfully,
<br />
<br /> =J. T. Hanvey,
<br /> Pmeszaen~ City Council.
<br /> Whereupon, the call having been read, the following report was read from the Boa~d of A~.
<br /> bitration:
<br /> "AWARD AND APPRAISAL 0P ~ PROP~RTY OF THE PORTSMOUTH, WBERKL~-Y AdUD SUFFOLK EATER
<br />
<br /> COMPANY..
<br /> ~The ~edecessor in title a~d obligations of the Portmmouth, Berkley and Suffolk Water Com-
<br /> pa_ny having by Article ~; of the contract dated the 13th day of September, 1887, agreed with the
<br /> City of P
<br /> ortsmoutn ~at it might ~beeome the owner of ~aid works and all of.~the property connect-
<br /> ed therewith, and succeed to all the. rights and franchises of the said The Po~t~mouth and Suffolk
<br /> Water Company atthe expiration of the said thirty years, beginnLug on the !st day of april,
<br /> eighteen h%%udred and ' * ,. '~
<br /> emghoy emght, by givir~E, hefOhe the expiration of said thirty years, two
<br />Yea~s.notice of such intention to purchase, and by paying said water compan~ the value of said
<br />works,' property ~ franchises, taking into view in ascertaining-such value, as well its capa-
<br />city to make earnings as other considerations, and in payment or p~t payment of such purchase,
<br />the City of Portsmouth sha~! assume the then out-standin~ contracts and obligations of the eom-
<br />pan~, and the v~lue of the ~orks', Property, franchises and bontraots shall be determined by
<br />bitpation, each pa~ty to be equally represented by one disinterested arbitrato~, the arbitrator
<br />by the city of PO?tsmouth ~o~be chosen by the Council of ~he City; and if they, the said arbi-
<br />trators, do not agree, then,~by mutual selection of said arbitrators, an umpire may be chosen,
<br />a~dr the ~egi~ion_ of two of ;such: ~three shall be. finaf. T~e said arbitrators, ~or~ the purpose
<br />o ascer~a~umng the value or for a~din~ them mn so doi~. ~b~13 ~ o~ +~ ~ ~ ....
<br />papers of samd company. Sa~d sale to be confmrmed by a two-thirds vote of the Council ef said
<br />City, and ratified trythe .Court of Hustings of said Cit$~;' the City of Portsmouth having given
<br />such two years notice prior to the first day of April, nineteen hundred and eighteen, of its
<br />intention tO exercise its option under said contract, and the Council' of the said ci~ havin~
<br />~elected~ Ch~s. F;HarPer and:th8 Portsmouth, Berkley and Suffolk ~ater Comna~v h~v~
<br />eorm-~ Netcalf~ and they-havmng selected Robert R. Prent~s as um
<br /> ~'~ pi.e, ~h~ said arbitrators
<br />a~d umpire proceeded oommenCLug on the twenty ninth day of July, nineteen hundred and eighteen,
<br />and~ending on this date (afte~ adjournments from time to time), heard all Of the evidence sub-
<br />m~tted, and having~ given ~ue consideration thereto '
<br />andaward, pursuant to ~ch' submissfon, nave th_s date made the ~fotlowing appraisal
<br />
<br /> "1. We appraise and value the work~, property, f~enchises, real estate and personal pro-
<br />perry as indicated in the inventory submmtted (exceoting therefrom non-operating and miscellane-
<br />ous equipmenb, materials' ~Dd supplies shoe on page~ 267 to 293 inclusive, of the inventory),
<br />at th~ sum of Two Million Se~en H~dred Thousand Dollars ($2,700,000), as of April ist, 1918.
<br />
<br /> ~2. The non-operating and miscellaneous equipment, materials and supplies in possession
<br />of the compan~ upon the date on ~hi~n~the City of Portsmouth shall exercise its ootion to pu~-
<br />chase the property,.~hall be inventoried as of that date, and all such property w~ichhas been
<br />purchased since April 1st, 19!8, shall be Daid for at its actual cost to the compar~f, and all
<br />such ~sed ~perty as wasowned by t~e c~mpanv on the 1st day of April, 19!8, shall be paid
<br />for at such fair value as may be agreed upon by the city and the cc~pany, L
<br />
<br /> ~. A~i e~ensmons,_~provement~, equmpment and machinery constitUtin~ betterments to the
<br />pro~er~y, an~ n0t. mere'rep±acements ~chhave been :installed either in~ ~ol~ or in ___tear ...... si~ee
<br />zprm! 1st, 1~, ~hall be Paid for by the city at the actual cost te .~tHei~i0mpsny upon the date
<br />of %he transz~ o~ the property. ~-
<br />
<br /> "Given under ou~ hands this 28th day of August, 19~8.
<br />
<br />(Signed)
<br />(Signed)
<br />
<br />Chas. F. Harper~
<br />Leonard Metcalf,
<br />
<br />(Signed)
<br />
<br />Robert R. Prentis.~
<br />
<br /> Then the follow'~mng report was read i~om the Soecial_ Water Comm_ttee* of this body; after
<br />Harper had spoken as to the above report:
<br /> ~'The Special Water Committee of the Council of 'the City of Portsmouth respectfully reports:
<br /> '~That the Board of ~bit~ation, composed o~ Charles F. Harper, chosen by the C~3ncil
<br />City of Portsmouth, Leon~d Metcalf~ chosen by the Portsmo~th, Berk!ey and S~folk Water Company,
<br />
<br />
<br />
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