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HomeMy WebLinkAbout0491 491. .4/~ 0RDIN~NCE providing for the aquireing by purchase and the securing co~ trol by the ~ity of Bremerton of and from Gustav P. Rust, his associates, succes- sors or ,.-~.ssigns , of a standard light and power pl.-.~nt and system located upon a power site in Section SixteenS(16), Township Twenty-Four (24) No~th, Range Three (3) East W. ~., in ~.,iason County ~:?ashington, u_oon the Hame Hame River, togethee with-transmission and poles lines to the cor,',or te limits of the City of Bremer- ton, ~nd any and ~.ll lands, ri hts of way and necessary lines therefor, and ap- putenances thereunto belonging, providing the ti~e within which t~e s~me shall be completed and the title thereo~3 conveyed to the City of Bremerton, fixing the amount of com.oensation to be paid therefor, tke ti~e and manner of payment, providing:;' for the accumui~.tion of funds ~vith which to make such payment, the issuance of si~ecial utility bonds, which sh~-~..ll be ~', leinmpon not to exceed Seventy- five per cent ~75%) of the gross revenues thereof, and for the furnishing of light and power to the said S2st~v P. ~ust, his associ~.~tes, successors or assigns, for his or their use, the consideration thereof, the compens~tion to be paid therefor, the time and manner of such p~yment, and providing for the submission of said proposit~on to the electors of s~.id City for their ratification, a!~proval and authorimation, and providing for the protection of and penalties for the in- terference with, and damage to the property so to be acquired and purchased. The C&ty Council of t~.e City of Bremerton do ordain as follows: Sec. 1. The City of Bre~r~erton does hereby agree to, and the :.~ity Council, of the City of Bremerton is hereby authorized to acquire and purchase of and from Gustav P. Rust, his associ~;,~tes, successors or assigm§ that cert:~in power site located ~:~.t the he~d of the falls in Sectio~'~ ~6, Township Twenty-'our (24) North, Range Three (~) East %~. M., ~ son County, %Va~hington, located upon the Hama H~una River, together with a~l lands, rights, prlvileges, appurtenances, right2 of w:y, easements, amd other interests thereunto belonging, or which may he_.-e~.fter become ap.~urtenant thereto, togeth~;r with a standard light and power system, developing at le~-~st three thousand [$,0'::.0) eojtinuous horse power, together w~th a water power site sufficientto degelop up to ten thousand (%0,000) horsepower, the s~,me to be loser:ed ~upon said power site upon said Ham~. Hame together with t}~e necessary dam, machinery, appliances, poles pole line'~, trmn- smission wi~es, the s'~ame to be a complete unit of power development consisting of power house, conduit or conduits, conducting w~ter throughout all storage or diverting or fore-baby reservoirs used in connection thec.~with, the transmission line diverting power' therefrom, and any and ali. miseellaneous structures used in connection wit.i~ said unit, or any part thereof, the 1.~n~s ~nd rights of way, the use and ac~upancy of which are nessae~y a~d appropriated iS the development of power of said unit, and other equip~nent necessary to deliver s&id power for developme~:~t of electricity for the lighting of the ~:aid City of Bremerton and v~cinity, and for the L~urnishing of such power as may be necessary or desirable in or about s~id City, tke ~a:ne to t)e delivered at t}~e corporate 1Lmit:3 of the City Bremerton at an esti:nated cost of Three Hundred Pifty Thousand (~350,000.00) Dollars, and to be agre,~able to and in conformity ~,vith tke si)ecific~tions there- :for, on file ~nd to be filed in ~ke office of the CitF- Clerk .~:~nd tke City Engineer of the City of Brem, ]'ton, the title of s~id property and rights and co~p].eted plant and system, privileges, a:)~urtenance,~ ~n~ equipment pert~:~ini~g thereto, to be deliVe'red and conveyed to the said City of Brem~rton on or before three ye~.rs from and ~fter ~he d~te of ti.~<~ final passage an(~ publication o? this Ordinance, and the acceptance of the terms and conditions thereof by the Gustav ~, Rust, his associates, successors or assigns. Sec. 2. In consideration of the covenants and agreements set f~rth in Section One of this Ordinance, the said City of Bremerton hereby ~)ro,,~ises and agrees to accept said pla.-.t and undectakes s~nd agrees to p,~.y tDe said Gustav F. Rust, his associate , successors or assigns, the sum of Three Hundred Fifty Thousa~d Dollars by the issuan,~.e of it~; s[)ecial electric light and power warrants Ordinance No. 491 Cont'd. or bonds, payable out of the revenue of the electric light ~nd po'~er system of said City in ~he ,~a~d sum of Three Hundred ~lfty. Thousand {,;?ZSO,O00.O0) Do~!arm, bearing interest at the ~ate of ~ix per cent {6%) per a~n, the same to be a first lien on not to exceed seventy-five psi' cent ~75%} el' the gross revenue Shereof, and that the City Council shall set aside seventy-five {75)~)mf the gross revenue of said syste~, and a sinking fund ~.e authorized created sNfi'icien~ to pay the interest on said bon~s for the p tied of five ~5) yea~'s, and thereafter sufficient to ~ay the ~nterest on said bonds and to retire an. principal sum of Ten Thousand (~lO,O00.O0) Dollars pe~' ann~n~] for th,~ second five (5) years there- after, and s~,icient to pay tn,:. s~:~id interest, and .~h~rty Thousand (,~oO,00C,.00) Dollars per annum for the next period of t.~n (lO) year's thereafter until the whole sma oi' three H~dr~d ~fty Thousand (~ZSO,O00.O0) Dollars, ~ogether with said interest, are fully paid. Sec. 3. Upon the full completions of the t,~rms and conditions of said proposition and of this Ordinance for tho con. truction and delivery of sad plant, site, lands, rights and equipment pertaining thereton, to the s~id City of Brem- erton, the s~tid City o~' Oremerton shall cau~:e to be issued and ~elivered to the s.~id Gu~;tav P. Rust, his associates, successors or ~:~ssigns it~ tLree h~dred fifty (Z50) special ::leotric light and power warz-ants or bonds, said bonds shall be negotiable and of the denomination of One Thousand (~l,O00.O0) Dollars each, and shall be numbered from one (l~ to three hm~dred fifty [550) both inclusive , sl~l], bear interest at the rate o~' ~;ix per ce.~t [6%)~per annum, payable semi- annually, the princip,.~.l of s~id bonds to be payable as hereinbefore ~et forth on each of the first days of January and Julu m~til ful].y pai~, a. nd shall in all ree~pects comply with ~he laws of the Stat,:~ of b:~shington which auth:,rize the issuance of such bonds by municipal corporation~;, a:~d shall be sub~t~ntially in the follo,'~ing form: UNITED ST~,TES 02 ST~,TE 0F ,~.oHIN~TON, CITY 0~~ NO. ~j~l, 000. :~,~T~I~, LIGHT ;;1D) PO.fEI{ BOND. · .~.~o,,,N~S: That t,~e City of Bremerton, a m~icipal corporation of the thi-rd class, of the State of b~ashingt-on, for w.-,lue received promises to pay the bearer One Thousand ~$1,000,00) Dol]arsin Gold Coin of the United States, on the day of __,19__, with interest thereon at the rate of six per cm.nt ~ per ann~n, payable semi-annua~tly in like Gold ORin, upon.~resentation of coupons hereto attache~ as 'ohe~- sever~]y become due; both princip.~l and inner-est payable at ~h~ fiscal .~j'ency o:f the State O~ ~ashington, in the City and S~ate of Neu' York, out of tho gross revenues of th~- electric light and po er system of said City off Breme~ton, and the Trea- surer of said City has been directed to pay the principal s~ and interest im the manner here:nafter provided by Ordinance No off said City, approved day of, 19lo This bond is one of an issue of three hundred fifty ~350~ bonds of One Thou~tand [$1,OO0.OO) Dollars each issue, by the ~Eity of Bremertonand payable only out of the City of Bre~,~rton's special electric light ~ind power f~d pro- vided by Ordinance No..~ · Said bonds are issued for the purpose of pur- chasing an~ paying ~or, o~ing, ho].din~;, control].in~ and op~rating the electric light and power system, ~nd other property, purchased, or to be purch~.sed, by the said City of Bremerton from Gu;~::ta,z F. Rust, his associates, successo?s or assigns, for the purpose of providing necessary facilities for tha sup .ling of the said City of Bre~e~'ton, its inhabitants and others with electri~'~ity, for business and other purposes, and are payable in their mmerical order a~:~ follows: Ten [~0) bonds of One Thou~;a~d [~l,O00.O0) Do/.lars each, nmnbered from one Il) to ten [lO) both inclusive, pay~-,Dle o~'~ the first da of January,19 Ten bonds of One Thou~an~ ~l,OO0.O0) Dollars each, nu~bered from ele~-en' [ll~ to twenty [20) botl~ inclusive, payable on the fir~-:t :~a2" of January 19 Ten (lO)ben s of One Tnou~a.d [~l,O00.O0) Dollars each, numbered from ~wenty-one [~l) to thirty ~30) both inclusi¥'e, payable pn the firs~ day of January, 19 Ten (~ bonds of One Thousand [~l,O00.O0) Dollars each, numbered from thirty-one [Z1) to forty ~40) bo~h inclusions payable on the fi~m~ day of January, 19 Ten b3n~t~ (lO) of One Thousand ~l,OO0.O0) Dollars each, numbered firty-one to fifty ~50) bo~h inclusive, pa~ab].e on the first day of January, 19 . Thirty ~30) bonds ~oOne Thousand [~l,O00.O0) Dollars each, numbered from fifty-one ~51) to eighty ~80) both inclusive, payabl~ on the first ay of January, 19 . Ordinanee ~{o 491 Cont'd. Thirty ([]0) bonds of One Thousand [~1,000.00) Dollars each, n~nbered from eighty-one(81) to one h~dred ten [ll0} both inclusive, payable on the first d~i.~ of January~ 19 . Thirty fZO) ~ds of One Thousand (01,000.00) Dollars each, n~bered from one h~dred eleven ~lll~ to one h~dred forty ~l&0) both inclusive, pay~ble on the first day of January'y, 19 . Thirty bonds of ~ne Thou~nd (~l,000.00) Dollars each, n~bered from one h~dred forty one (l~l) to one hundred seventy ~l?O) both inolus've, payable on the ir~'t day of Janus~ry, 19 Thirty (ZO~ bonds of One ~saud (,i~l,O00.O0) Dollars each, numbered from one hm~dred seventy one (l?l) to two h~dred (E00~ both inclusi?e pay~.~b%e on the firs~ day of January,19 . Thirty ~Z0) bonds of ~ Thousand Dollars (~l,00O.O0) each, numbere from two h~dred one to two hundred thirty (EZ0)~both inclusive, payabl~~ on the first day of Januar?, 19 Thirty bonds'~ of One Thousand (~$1,000.00) Dollars ea~ch, nt~bered from two hRdred thirty one [231) to t'ao hudred sixty ~260) both inclusive, payable on the first day of &muary, 19 . Thirty [~0) bonds of One ~u.~and [~l,000.O0) Dollar each, n~bered from {~rom two hm~re sixty One ~261) to two h~dred ninety, [290) both inclusive payable on the firs;t day of J~nuary, 19~.1 Thirty bonds [Z0) of One Thou~al~ ,000.00) Dollars ea~ch, n=nbered from two hu~dred ninety one ~291) to three hundred twenty ~ 20) both inclusive payab~_e on the first day off January, 19 Thirty $30) bonds of One Thou~ane ~ollars each, numbered fro~a thre~ hun- dred twenty-one to three h~dred fifty (BSO) both inclusive ~yable on the first d~ty of January, 19 . ~d it is hereby d. ocl~red that s~,id bon~s of the said Ci~-~ ~c~ of ]remer~on'~ special electric light a~J~ power 'und, is a first lien upon not to exceed seventy- five (75%$ per cent of the revenue~ and other income of the sa~id Brome~ton electric light ~%nd power system, any ordin~:~noe, resolution or other provisio~m to the contrary not~'ithg;tand ing. ~d the Cit;.of Bre.~erton hereby covena~nt~ and agrees with the holder thi~ bond that the said City will, from time to ti:e, in Uze raanner provided in said Ordinance No. cause to have set aside out of the revenues received from ~.~id electric li~I~~, po?~er system and pl¢~ced in s~-~id specia~ electric light and pct,:er fund, sufficient suzns to p y s~.id bonds ~nd the interest the:'e- on as U~ey shall mature, and agrees theft at each interest period herein pro- vided for, i~ will a~,ply the money in s~.id fund to the pa~ent, in the first place, on the semi-annual interest on all s~d bonds, ~.nd secondly, to the pay- ment of the %~rimoipal of ~;~-~id bonds in their n~erical order co~aencing with m~b~r one (1) and eo continuin~2~ ~til a I of said bonds and the interest there- on shall have been fully paid. ~d for the further assurance of the hold~r of s,~id b~nds it is hereby found and declared that th~-: s¢~me is issued in strict accordance with the lav~, and that all acts, things', orders, ordin .~ces, resolutions, and conditions pre- ceden~ to the right to issue and deliver this bond, shall ~.ave happened existed and been done prior to the issue thereof. IN ,?I~I~SS %~tH]i{EOP the City of Bremerton has caused this hond to be signod by the ~ayor and Countersigned by the C~ty Clerk and. attested by the se~:~ls of said City, a~nd caused the coupons hereto attached to be signed attested by the lithographic signatures of said ]~yor and City Clerk respectively. At tes ~: - ~or. ~ity Clerk of the 'City of Bremerton. The s~.id ~oupons shall be in the following form: · ,~ .... ~he Cit~.~ of Bremerton, State of Washington, will pay t~ bearer at the fiso~l agency of the State of Wa~hingto,~, in the City .~nd State of New York, out o~ the revenues received from its special electric light and power f~d, Thirty ($ZO.O0) Dollars, in Gold Coin of the Un, ted States, being six ~) mon~h~ interest due on the first d~:~.y of , 19 , on Bond No. ., on its special electric light-and p~wer f~d. In,he event the princip~nd to w$ich this coupon is attached is redeemed before the mat- urity thereof, this coupon obligation shall become null and void. Attest~ MaYor of-the city~ NremertOn. City Clerk of the City of Bremerton. Sec. 4. That there be, and is he~'eb~ created and established in the Treasury of the City of Bremerton. a ftuud to be called "The City of Breme~Tton's S!~ecial Electric ~ight and Power ~d, whic~~ fund is orca. ted and is to be drawn upon for th~ sole purpose of defraying the cost and expense of the purchase of said electric light ~nd power system, and the improvements, additions and ex- tensions thereto, so to be purchased, controlled and opera, s. ted by the said City, as specified and adopted by the terms of this ordinance, together with such interest as shall accrue, an~ t~e warrant or bond obligations issued in pa~ent thereof. Sec. 5. ~enever the City of Bre~uerton shall have delivered to the said grantee, his associates, successors or assigns, warrants or bonds upon the "Cit~ of Bremerton's Special Electric Light and Power F~d," in payment of said planty aris system, th~ 0ity Treasurer shall sot aside in the "City of Bremerton's " from the grosz revenues, earnin~%~ an~l Special Electric Light and Power Pund, credits derived frown the ele~tric light and power system belonging, or which m~y hereafter be cng, to ~aid C~ty, a s~mn sufficiently an~'~uglly to pay s~id bonds and the interest t~e eon as same shall matu~'e. ~ll the money so sera, aside and pl~ced in said SCity of Bremerton's Special Electric Light and Power shall be applied solely to the payment of the princip~l ~nd interest, of sa. id warrants or bonds issued again~t said f~ds in ?ayment of s~-~id ele~.~ric light and power systems, including ~-~ny ~nd all improvements, additions and e>~tensi~ns thereto, ~til the obligations issued therefor, with interest thereon, shall have been fully paid, or in case s~.id City shall sell or othe~ise disoose of the s~e before said payment shall h~ve be~-~n fully made, said City agrees to pay out of any monies derived l'rom the ~le or otherwise, all of said obligations that shall then remain unpaid and that in any even~ it ~ill not sell said sys- tem for a s~ lass than enough to pay all of said ~utstanding obligations with interest thereon, and said City binds itself to maintain its rates or ch.race for electricity so that the annu~_~l gross revenues the~-eo~ as herein defined shall amount ~o a s~ which shall be sufficient to pay t]~e cost of m~intaining and operating said pl~nt and the payment of the principal and interest on said warrants or bonds, ~til such obligations sh~ll have be~n fully liquidated and disch~.rged. Sec. 6. The City of Bre~erton shall not be subject to any furth~r lia- bility for the pay~ent of the warrants or bonds, or interest thereon, o[' the "Cit~ of Bremerton~s Special Electric Light ~nd Power ~d, 2 herein authoriz~d than is expressed and provided fo~~ b~ thigm Ordinance. Sec. 7. A$~ warrants and bonds provided to be ls~ued by this Ordinance may be registered by the o~er thereof by presenting' same to the City Treasure~ of the Cit2,~ of Bremerton and procu~ing his notation of th~ n~me of the payee on the back of suc]~ w~rrant or bond; after such registration a.ny such war- rant or bond ~hall be pmf~y~ible only to the registered payee or his order. Sec. 8. Eor the period of thirtf? years and as ~ part of the consideration hereof the s~id Eratee, his associates,succeeeor or azsigns, are hereby granted as to price only the exclusive right and privilege of using the electric ~ower owned and controlled by the said City ~der and by vitue of the ter~:~s and con- di$ion~ of th~s Ordinance and of their franohis~, for the operation of their urban or interurban railway at and for the s~n of actual cost thereof to the said City of Bremerton, plus ten per cent (10%), the sa~e ~o be paid hy the said grantee, his associates, succes~ors or assigns, quarter a~ua!ly at the end of each quarter, said power to be used by the said grantee, his associates succ~s- sore or assigns for any and puposes advisable and expedient to the operation of his or their lines, whether for heating, lighting or power purposes, T~e said grantee, his associates, suc~essors o~assigns being hereby granted the and privilege m~selling and disposing of any and all p~er in excess o~ tho amount neces~'~ry for the o ~eration of his or their railway lines to any person, persons, firm or corporation at such rate or ratesas he or they may deem expe- dient, but the same s~all not e sol.' in direct competition with sa~d City ~¥ithin corporate light,its of said City, or wereever said City has a lighting or power syste~n, e~cept with the consent of s~.i.G City. That said City hereby reserves the right to sell its surplus power to any person, persons, corporation or corporations whatsoever, but at suc~ price as it may deem advisable in exces~ of the price herein n~med to be p~id by said grantee, his associat:~s, successors or assigns . It is further ~der.~ toed that said grantee, his associte~, suc- cesors or assigns, shall purchases and pay for electrical energy which shall amount to at least two million four hundred thousand kilowatt hours per annum for e~%ch a~d every year ~after the actual completion and delivery of ~aid power pl.~nt to said City during the entitle p~riod of said thirty (ZO) years, it being ~u~derstood that said grantee, nz~ associates, successors or shall purchase his or their entire supply of power from ~aid City except in case of emergency, when said City shall be ~able to supply ~he same, it being fur- ther ~deratood that the City of Nremerton sh~ll furnish the said. Grantee, his associates, successors or assigns, any and all electrical energy necessary or desirable for his or their purposeful, the ~ane to be only in excess of the mno~t Ol'd-lnanaa Ho. 49~ a,~nt'd. necessary for use of the 0ity of Bremerton, ~d its i~abitants, the said City of B~eme~ton hereby agreeing to reasonably c~nserve the interests of the said grantee, his associates, suc~essors or assigns, and the interests of the City of Bremerton and its iz~abitants jointly. Sec. 9. The sa~d grantee, his associates, successors or assigns shall at the ti~e of the filing of this acceptmnce of this Ordinance. ?resent to and file with ~he ~ity Cle~.~k of the City of Bremerton, good and sufficient surety bond in t~e penal s~ of ~ive Thousand ~,000.00) Dollars, conditioned that he, the said grantee, his asso~:iates, successors or assi~m~, shall in good faith, begin the constructu n of said power plaint and carry the s~e to completion within three ~Z~ yea~'s, the ~i~e limited by this 0rdinam~e, or of any extension of time granted by said C~ty, and in the event of his fail~re so to do, then the said City shall h~ve th~ ri~ht and power to forfeit said bond and recover the~eon the ~ll s~ of Five ~ ~ "' Th.~usa~d ~,000,00) Dollars the~.e~n provided, as liquidated d~age s. Sec, 10. ~y person, persons, co~oration or core,orations in any maker willfully or ~lawfuliy injuring or destroying the lined or property of the said .grantee, his associate~, successors or assign~, or of the said electric~ plan~;, lines or other appurtemmces therem~to belonging, or of the officers, agents or employees of th~'~ s id City i~. the la~ul conduct thereof, shall be gutltj of a misdeaaenor and upon conviction thereof, shall be ptmished by a fine of not exceeding Three Hudred (~00.00) ~ollars, or by impriso~ent of not exce~ding ninety days in the City Jail, or by bot~ such fine and imprisom~ent. Sec. ll. The Said grantee, his associates, s.uccessors or assigns, shall be deemed to have abandoned and forfeited any and rights or privilege~ provided for ~der terms and conditions o~ this 0rdin~ce unless within six {o) months from and after the approval of th~s Ordinance they sh~ll file in the office of ~he City Cle~k of the 0ity of Bremerton a written acceptance of the terms and canditions of this Ordinance, and in the event of ~heir failure so to do, this Ordinance shall thereafter b~ null and void. Sec. la. That a special electi'n shall be held in the City of Bremerton on Suesday, the 14th day of Ap il, A. D. 1914, in the several precincts tn~o which the same is divided, for the ,urposes of voting therea~ by the qu~lified electors of said C~ty, upon the proposition submitted to them in and by vi}rue of the provisions elTM this Ordinance. Said election sh,ll be held in the voting places in said several precincts ,~md shall be conducted by such inspectors and Judges of ~lection as may be respectively designated and appointed for holding and conducting the sa~:~e, in accordance with the provisions of this Ordinance of the City of Bremerton and the laws of the State el Washington. The City Clerk shall give at least ten (10) daya noti~e of the time and pla, ce of sci8 election in the offici~l nev~spaper of said City, by publishing in each issue of said paper during said ~ime a proper notice of such election, ;,~htcl: n- i~e shall include the propositio n hereby recuired to be submitted to ti~.e electors and the forms of ballots to be cast for and against said proposition as prescribed in th~s 0r~inance. Sec. 1Z. The proposition submitted to the electors of the City of Brem- often in and by the provision:~ of this Ordinance shall be voted upon in t?,e ~ollowing maturer, to-wit: Every voter electing to vote in favor of such proposit~on that the City of Bremerton acquire by purchase of Gustav P. Rust, his associates, succesa~ors or assigns, a modern light and power plamt and system upon the Hana ~a River, $ogether with transmission and pole lines, and .~onvey the same to the City Bre,~erton, and to authorize the payment the~'efor in s ,ecial utility bonds in the s~ of Three H~dred ~ifty Thousand (~560,000.00) Dollars, the s~.me ~o be a lien upon not to exceed seventy-five per cent (75%) of thc revenues thereof as may be neces~ary in ti~e manner he~'<,in pro,'idea, shall v~te a bal lot containg the words, "In favor of the l~roposition a.~ set forth and detailed in Ord~.nance No. 491, to ac~'~uire by purchase of Gustav P. Rust, his associates, succes~;ors or assigns, a modern light and power plant and s~ tom, the same the City of Bremerton, at and ~.'or the s~m of Three tiundred Fifty Thousand (-~550,000) Dollars, and auth~rizing the i~suance of special utility bonds therefor, and creat- ing a lien upon seuenty-five per cent (75~) of the gross revenues of said system." Every voter electing to vote against said proposition last above specified shall vote a ballot contain~n.C the words, "Against the proposition as set forth and detailed in Ordinance No. 491 to acquire by purchase of Gustav P. Rust, his associates, succes~:ors or assigns, a modern light and power plant and syat m, She same to be conveyed to the City of Bremerton at and for tk s~ of Three ttund~ed Pifty Thousand (~}Z50,000.00) Del ars, and authorizing the issuance el TM sRe- cial utility bonds therefor, and creating a lien upon seventy-five per cent (75~) of the gross revenues of said system." SAid proposition shall be printed upon a ballot to be ~0rovided for said spe- cial election, and opposite and to the ~ight of each proposition there shall be printed a blank s~uare one-half inch in size, within which the voter shall signify by ~u~rking ~ith a cross ~X) whether he votes for or against t~.~e proposi- tion so submitted. Sec. l&. It at the special election so to be held as provided in this Ordin ncc, a majotirty of the electors in said City voting~at said speci~l election and upon said propositiom, shall vote in favor of the proposition as set forth in this Ordinance, thereupon and thereby sa~d proposition sh~ll be and become by the said City, but if a majority of said electors votin~ at said elevation upon such pro~osition do n&t vote for such proposition as therein set forth, said proposition will no~ be adopted by the said C~ty, and this Ordinance will thence- forth be null and void. Sec. l~. ~n the event the proposition to acquire by purchase of the said Gustav ?. Rust, his associates, successors or assigns, said powe~~ plant and system as provided by the terms of this Ordinance shall be adopted at said election, the said City Council of the Cit~/ of Bremer~on shall be and are hereby authorized upon the completion, delivery and conveyance of the said power plant and system~ together with any and all lan~s, rights of ~,'~y and ather appurtenances thereunto belonging, and the fuli compliance of the terms and conditions of this Ordinance, to issue to the said Gustav ~. Rust, his associates, succes~ors or assigns, bonds in the sum of Three Hundred ~ifty Thousand ~0,000.00) Do~lare in payment there- of in accordance with the term.~ and conditions of this 0rdinamce, as settlesent and p~nent in full therefor. Sec. 18. This ordinance shall be in full force and effect from five dans after its passage, a!~proval and publication according to law. Passed by the City Co~mcil and approved by me this 8th day of January, A. D. 191~. Attest: ' I~Yo r'// ~it~ Clerk.