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April 12. 1910.
<br />
<br />it has been decided to recommend for your adoption the following.resolution thereon:
<br /> WHEREAS. the Portsmouth and Norfolk Oorporation w~s, by an ordinance approved June 21, 1909,
<br />granted a twenty year franchise for electric light and power and a ten year contract with the City
<br />for furnishing municipal lighting; and,
<br /> WEEREAS, the said Oorporation has applied'for an e~ension of time to_furnish the City with
<br />municipal lighting; and,
<br /> ~E~&S, the Portsmeuth andNorfolk Corporation has agreed that if the said extension is gran-
<br />ed trw ill at once execute the bond of Five Thousand Dollars, required by said ordinance, with good
<br />and sufficient security in favor of the City, conditioned upon the constructing ~nd putting into op-
<br />eration and maintaining the plant and serviee in the franchise grante~ ~_thin nine months from the
<br />date of the approval by the Mayor of the said City of a resolution authorizing such extension; and
<br />it will also execute a bond in the s~m of Seven Thousand Five ~undre~ Dollars, ~ith good and~suffi-
<br />cient security, in favor of the City, conditioned to re-imburse the~said 0ity for any difference it
<br />has expended or may expend for municipal lighting from the first day of January, 1910.to the time
<br />when the said Oorperatien sh~ll furnish the said lighting in accordance with its contract, s~id dif-
<br />ference being the amount of what the said City h~s paid ~nd sh~ll be required to pay in excess of
<br />that which it should have paid under the said contract had it been enforced and complied with as of
<br />january l, 1910, and to re-imburse the said City for any and atl~other expenses it may have ineurred
<br />by reason of such extension; and it wit~ also, within sixty days from the date of the approval of
<br />said extension by the Eayor of the 0ity~ execute the contract required by the ordinance ~pproved
<br /> June 21, 1909, except i=~ so far as M~y be modified by the resolution of extension.
<br /> Now, therefore, be it resolved by the Council of the 0ity of Portsmouth:
<br /> First. That the Portsmouth and Norfolk Corporation be and it is hereby granted ~n extension
<br /> ~nm~ ~ty~of ~hms resolutmon for sup-
<br />of nine months from the date o£ the approval by the Mayor of ~'~ ~ ·
<br />
<br />plying and furnishing municipal lighting that it is required to supply and furnish in accordance
<br />~ith the ordinance approved June 21, 1909, ~mder the terms and conditions as are herein above set
<br />forth.
<br /> Se¢omd. That should the ~t~yor of said City approve this resolution of extension, then the City
<br />Attorney is hereby.directed and ins~ructed~to prepare the contract and the two bonds as herein above
<br />mentioned.
<br /> ~hird. That when the P~rtsmo~th and Norfolk Corporation~shall have executed the contract
<br /> ~roved by the 0ity Council and have given ~he required bonds,.with sureties satisfactory to the_City
<br /> ~ounci!, then'the certified~¢heck fer Five ThousandDoll~rs deposited by that Oorporation shall be
<br /> retu~aed to the Portsmouth and Norfolk
<br /> Fourth. That should the said Portsmouth and Norfolk Corporation, for any reason, fail to exe-
<br /> cute the said contract and bonds as approved by the 0ity ~ouncil within sixty days from the
<br /> vol by the Eayor of this resolution, then and in that event, all the rights granted to the said
<br /> Portsmouth and Norfolk 0orporation by the o~dinance approved J~me 21, !90~, and by these resolu-
<br /> tions, are to cease and determine and the check for Five ~heusand Dollars deposited by said Oorpo-
<br /> rztion~with its said bid is to be forfeited to the Cmt~ as liquidated damages. But should the s~ii
<br /> Corporation execute the said contract and the said two bonds but fail, for any reason, to establish
<br /> its plant and ~rnish the lights as required by said contract within the specifie~ p~riod of nine
<br /> months from the date of approval by the~ayor of these resolutions, then all of ther ights gr~nted~
<br /> to the said Portsmouth and Norfolk 0orporation by the ordinance approved June 21, 1909, and by these
<br /> resolutions, are to cease ~nd determine andthe said t~o bonds deposited by the said Corporation
<br /> as herein~provided for are to be forfeited to the.City of Portsmouth ~s liquidated damages.
<br />
<br />(Signed)
<br />
<br />H. L. Watts,
<br /> 0hairman, ~, C, (~or Majo ~ y.of Committee).
<br />
<br /> · "i concur in the recommendations made by the majority, cf the O~mmittee~ with the provision that
<br />the certified cheek of the Portsmouth and Norfolk Oorpo~atm~n for Fmve ~housand Dollars held by the
<br />City, be retained, ~nd prevmded furthe that the 0erpcration be~required.~ive to the Gity a 'fi-
<br />delity bond' for Fifteen ThOusand Dollars .to secure it in c~se said Corpo~Sn should~f~il to exe-
<br />cute its contract in full."
<br /> (Signed) S.T. ~ontague,
<br /> Chairman, B. of A.
<br />
<br /> ~.e.report with the proposed amendment thereto having been read Mr, Hawks moved, that the min~-
<br />ity report be substituted for the majority.
<br />
<br /> The ~wo propositions were mush discussed; amd as it was getting late a motion w~s made,and ad
<br />opted, to ~djourn and take uD consideration of the matter again, ~th othe_ ~Tinimhed business,
<br />
<br />a meeting to be held Thursday, April I4~h,
<br />
<br />at the usuaI ho~r.
<br />
<br />
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