BOOK 13_1919-01-06 to 1922-12-26

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352 0 The following communication was received from the Redwood City Water Company ,on motion of Trustee Tuchsen,seconded by Trustee Mabie same be referred to the City Attorney ..and City Engineer to.'report back before next meeting,Motion Carried. To the Honorable Board of Trustees of the Town of Redwood City. The undersigned,Re'dwood City Water Company,a corporation,hereby offers to sell to the Town of Redwood City, and grants to said town the option to buy,up to and including the IIth.day of April,1922, the entire physical properties and plant of the water company,real and personal, without reserve for the sum of thirty thousand dollars (30,000) cash. This offer is made and option granted subject to the following agreemeAts, tP-wit; I. If this. option is excerised the water company will waive against the town any claim in egeess of the rate of twelve and one -hall cents(12-32-�) per thousand gallons for any water furnished by it to the town between arch Ist.192I,and december 31s't9192I,but shall be entitled to have and receive a reasonably increased rate for all water furnished from and after January Ist.19229until the purchase price is paid. 2. If this option is not exercised by,the town and the purchase made as aforesaid, then in accordance with the mutual understanding heretofore had and existing between the parties, any increased reasonable rate for water furnished by the company to the town subsequent 'to March Ist.192I, and hereafter agreed upon by the parties, or fixed by the railroad commission,shall relate_ back to and take effect as of Match Ist. 1921. 3, The town shall accept and take the plant of the company subject to and will assume and pay all state ,county and municipal taxes for the fiscal year 1922- 30 4. If any additions or improvements are made by the company to its plant as now existing.between the date hereof and April IIth.1922, then the actual cost of such additions and improvemtnts,together with interest thereon at the rate of 610 per . annum until paid,shall be -added to said 0 30,000, and become and be part of the purchase price. . The board of trustees shall on or before February 1922, adopt a resolution to the effect'that said board will call an election .and submit to the voters of the town the question whether the town shall issue and sell its bonds with which to obtain the necessary funds to buy and pay for said plant. Dated; January I4th.19220 REDWOOD CITY WATER CODIPANY By A.D.Walsh. ------------------------ Its President. Moved by Trustee McNulty, seconded by Trustee Tuchsen we now adjourn.Motion Carried. - &-o5ne- - City Clerk. 0 i�