Ordinance 1915-163 - Laserfiche WebLink

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of this franchise the Company will supply and distribute electricity for lighting, heating, power and other lawful purposes to the Totn and its (inhabitants at fair and reasonable rates, which rates shall be subject to regulation as provided by law. Section 7. ' The franchise herein granted shall take effect and be in force from and after the final passage and publication hereof, as required by law, and upon filing of acceptance by the Company as provided in Section VIII hereof, and shall continue in force and effect for twenty years from and after such passage ; provided, that _ during the period from September 20, 1939 to March 20, 1940 upon giving the Company sixty days notice in writing of their intention to vote upon the question, the Board of Trustees of said Town may by ordinance adopted by a majority vote of all members thereof terminate, cancel and abrogate this franchise ; such cancelation to be effective sixty days after the final passage and publication of such ordinance. Section 8. Within ten days after the final "passage and publication of this ordinance, the Company shall file in the office of the Clerk of the Town of Louisville an acceptance in writing of the terms and conditions hereof. Section 9. The Company shall keep on file in its office , available to the public , copies of reasonable rules and regulations from time to time adopted by it, for the conduct of its business, and copies thereof shall also be filed with the Town Clerk. Section lo. The Company shall annually pay to the 'Town a sum equal to one percent of its gross revenue arising from its operations in supplying electrical service within the Town under this franchise ( excluding revenue received from the Town itself for electricity furnished fro street lighting or other purposes ) provided, however, that the amount paid to the Town under the provisions of this para- graph shall in no year be less than the sum of One Hundred Fifty Dollars 0150.00) . The amount above specified is hereby agreed upon as the compensation to be raid for this franchise and shall be and i:s hereby accepted by the Town in lieu of any and all other special taxes or assessments upon the poles, wires or other property of the Company. Such payments shall be made on or before the first day of March of each year for the calendar year next previous , in- cluding the portions of the years beginning and. expiration of this franchise. For the purpose of ascertaining the correct amount to be paid under the provisions of this paragraph, the Mayor, the Town Town Clerk and--or any committee appointed by the Board of Trustees of said Town shall have access to the books of the local office of the Company in said Town for the purpose of checking the gross in- come received from operations within said Town.