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<br />said Town of Redwood City, Two (2) per cent of the gross annual receipts arising Brom the
<br />use, operation or possession of said right, privilege and franchise, as more full express_
<br />ed in section Three of -an Act of the Legislature of the State of California; approved
<br />March 22nd, 1905, entitled, "An Act providing for the sale of street rail -roads and other
<br />franchises in Counties and -Municipalities, and providing conditions for the granting of
<br />such franchises by legislative or other governing bodies, and repealing conflicting acts",
<br />and the amendments to said Acts, to which reference is hereby made.
<br />Notice is further hereby given that said Board of Trustees will meet in open session
<br />on Monday, the 26th day of June, 1911, at the hour Of $ olclock P. M. at the Town Hall and
<br />place of business of said Board of Trustees on Main street, in Redwood City, County of
<br />Ban Mateo, State of California, -and will there open and read the said bids and any bids
<br />.that may be presented, and that said right, privilege and franchise will be struck -off,
<br />sold and awarded to the person, firm or corporation who shall make the highest cash bid
<br />therefor; provided only that at the time of the opening of said bids, any responsible
<br />person, firm or corporation represented, may bid for said right, privilege or franchise
<br />a sum not less than ten (10) per cent above the highest bid therefor. And said bid so
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<br />made may be raised not less than ten (10) per cent by any other responsible bidder, and
<br />said bidding may so continue until finally said right, privilege and franchise shall be
<br />¢ struck off, sold and awarded by said Board of Trustees to the highest bidder therefor, in
<br />Gold Coin of the United States.
<br />Notice is further hereby given that each sealed bid presented for the purchase of said
<br />right, privilege and franchise shall be accompanied with cash or a certified check payable
<br />to the Treasurer of said Town of Redwood City, for the full amount of said bid, and no
<br />sealed bid shall be considered unless said cash or check is enclosed therewith, And the
<br />successful bidder shall deposit at least Ten (10) per cent of the amount of his bid with
<br />the Clerk of said Board of Trustees before the franchise shall be struck off to him; and
<br />if such successful bidder shall! fall to make such deposit immediately, then and in that
<br />case his bid shall not be received, and shall be void, and the said franchise shall then
<br />and there be again offered for sale to the bidder who shall make the highest cash bid there..
<br />for subject to the same conditions as to deposit as above mentioned, and such procedure
<br />shall be had until said franchise is struch off, sold and awarded to the bidder who shall
<br />make the necessary deposit of at least ten (10) per cent of the amount of his bid therefor
<br />as herein provided.
<br />Notice is further hereby given that said successful bidder shall deposit with the
<br />Clerk of said Board of Trustees of said Town of Redwood City, within twenty-four (24) hours
<br />of the acceptance of his bid, the remaining Ninety (90) per cent of the amount thereof*
<br />And in case he, or it, shall fail to do so, then the said deposit theretofore made shall be
<br />forfeited, and the said award of said franchise shall be void: And the said franchise
<br />shall` then,and thereby said Board of Trustees, be again offered for sale to the highest
<br />bidder therefor, in the same.manner and under the same restrictions as hereinbefore pro-
<br />vided: And in case said bidder shall. fail to deposit with the Clerk of said Town of Red-
<br />wood City, the remaining Ninety (90) per Gent of his bid, within. twenty-four (24) hours,
<br />after its acceptance, the award to him of said franchise, shall be set aside, and the de -
<br />Posit theretofore madd by him shall. be forfeited.
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