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ARTICLE V
<br />Section 1. As a further con-
<br />sideration for this franchise, and
<br />accepted by the Town in lieu o!
<br />all occupancy and license taxed
<br />and all other special taxes, aa-
<br />sesaments or excises upon the
<br />pipes, mains, meters, or other
<br />property of the Company, or
<br />other levies that might be im-
<br />j posed, either as a franchise tax,
<br />occupancy tax, license tax, per-
<br />mit charge, or for the inspec-
<br />tion of pipes, mains, meters, or
<br />other property of the Company.
<br />i or otherwise, tiie ;Company shall
<br />pay to the Town a sum equal
<br />to two percent (2~Io) of its an••
<br />inual gross revenue derived fromm
<br />the sale of gas within the cor~
<br />porate limits of the Town, ex--
<br />~cluding the revenue receivem
<br />from the sale of industrial gas„
<br />and excluding the amount receiv-
<br />e, from the Town itself for gas
<br />~ service furnished it and after
<br />' adjustment for the net write-off
<br />of uncollectible accounts and
<br />corrections of bills theretofore
<br />rendered. Such payments shalt
<br />~ be made on or before the first
<br />day of March of each year for
<br />Ithe calendar year next previous.
<br />I` For the purpose of ascertaining
<br />or auditing the correct amount
<br />to be paid under the provisions
<br />of this paragraph, the Town
<br />Clerk and-or any committee ap-
<br />pointed by the Board of Trus-
<br />tees of said Town shall have ac-
<br />~ cess to the books of said Com-
<br />j pany for the purposes of check-
<br />~ng the gross income received
<br />' from operation within said Town.
<br />ARTICLE VI
<br />Section 1. This Ordinance shall
<br />be in full force and effect from
<br />and after its passage, approval
<br />and publication, as by law se-
<br />quined, upon acceptance thereofi
<br />in writing by the Company orn
<br />or before the tenth day aster
<br />said publication, .and the terms:
<br />conditions and covenants hereof
<br />shall remain in full force and
<br />effect for a period of twenty-
<br />five (25) years from and ai'tez
<br />such passage, approval and pub-
<br />lication and acceptance tlieerebf.
<br />Section 2. Upon the expiration
<br />of this franchise,. if the companT
<br />rhall not have acquired an ex-
<br />tension or renewal thereof ssd
<br />accepted same, it may have, and
<br />it is hereby granted, the right
<br />to enter upon the streets, alleTar
<br />bridges, viaducts, roads, lanes;
<br />and other public places of the
<br />Town for the purpose of remov-
<br />ing therefrom any or all of its
<br />plants, structures, pipes, mains. ',
<br />or equipment pertaining thereto.
<br />at any time after the Town hsa
<br />had ample time and opportunity
<br />to purchase, condemn or. replace
<br />them. In so removing said pipes,
<br />mains, or other property,, the
<br />Company shall, at its own ex-
<br />pense, and in a workmanlike
<br />manner, refill any excavations
<br />that shall be made by it, in the
<br />graveled or paved streets, alleys,
<br />bridges, viaducts, roads, lanes
<br />and other public places after the
<br />removal of its mains, pipes or
<br />other structures.
<br />Section 3. Nothing in this or-
<br />dinance shall be so construed as
<br />to prevent the Company from
<br />assigning all of its rights, title
<br />or interest, gain or authorized
<br />under or by virtue of the terms
<br />of this ordinance.
<br />Section 4. The right is hereby
<br />reserved to the Town to adopt,
<br />from time to time, in addition
<br />to the provisions herein con-
<br />tained, such ordinances as may
<br />be deemed necessary in the ex-
<br />ercise of its police power, pro-
<br />vided that such regulations s1-alI
<br />be reasonable and not destruc-
<br />tive of the rights herein granted
<br />and not in conflict with the laws
<br />of .the State of Colorado, or
<br />with orders of other authorities
<br />having jurisdiction in the prem-
<br />ises.
<br />INTRODUCED, READ AND
<br />ORDERED PUBLISHED, the
<br />2nd day of October, A. D. 19b1.
<br />PASSED, ADOPTED AND
<br />APPROVED, this 6th day of
<br />November, A. D., 1951.
<br />Frank Varlet'
<br />3[ayor
<br />'ATTEST:
<br />John A. Dionigi
<br />Town Clerk
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