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H INSTORE 1 :ral merchandise || ILTON SPENCER : » AVE WANTS — = 1 tatoes and a liberal share of your Patronage. <|| r Complete Stock of Fancy and Staple • |1 is in which we boy, and the Igc of oor deliveries. «| iness IS. And Volumes of Business. ST and MOST FOR THEIR MONEY. ffp JONATHAN. m Council Proceedings. Council Chamber, Feb. 2, 1901). Council met in regular session with Mayor Mathews presiding Roll was called and the follow ing trustees responded:—Henn, McNaughton. Nelson. Olinger and Welborn. On suggestion ot Mayor Mathews regular order ot business was suspended and the subject of leasing the Electric Light and power plant owned by the Paonia Electric Light & Power Co., was taken up. After full discussion, the following resolution was read: Resolved that the town of Pa onia enter into the following con* tract with the Paonia Electric Light & Power Co; to-wit. This Indenture. Made and entered into this day of February. 1909, by and between THE PAONIA ELEC TRIC LIGHT AND POWER COM PANY. hereinafter called the Com pany. of the first part, and THE TOWN OF PAONIA. Colorado, herein after called the Town, of the second part, Witneaseth: Whereas, in the latter part of the year 1908 the Municipal Electric Light ing and Power Plant, owned and oper ated by said Town, became inadequate to enable the Town to furnish electric lighting service to its consumers. And Wfereas, The capacity and ef ficiency 0* said plant could not be suffi ciently increased to meet the demands for service made upon it by consumers, without the expenditure of several thousand dollars. And Whereas. Said Town had not appropriated funds and did not possess funds sufficient and does not now have sufficient appropriation or funds to in- 1 crease the capacity of its said plant sufficient for the purpose. And Whereas. Said Town did not at that time, and does not now jtossess an assessed valuation of property sufficient to enable it to issue bonds or otherwise provide itself with sufficient funds to sufficiently improve and increase the capacity of its said plant. And Whereas. Said plant did net and docs not possess sufficient value for lighting purposes to justify expending any considerable sum of money upon it. And Whereas, The said Town deemed it advisable and economical to construct a new plant for lighting and power purposes, but, for the reasons stated, could not and can not now con struct such a plant. And Whereas. Certain taxpayers within said Town offered and agreed to organize a company to construct a lighting and power plant to furnish said Town and the consumers of said Town with lighting service under an agreement whereby said plant ahall be operated by said Town and supply ser vice to consumers at the rates now fixed by the Ordinances of the Tewn, giving to said Town an option to pur chase said plant at its actual cost plus interest paid by said Company on its indebtedness created to construct the plant, together with insurance and taxes, until the Town shall exercise its option to purchase, but without profit to said Company or .its organizers. And Whereas, Forty citizens and taxpayers of said Town, for the pur poses hereinbefore stated, by and through Messrs. W. T. Baetzer, C. C. Hawkins and R. J. Huff acting as Trustees, on or about September. 1908, purchased Lots No. in Block No. 11 of said Town, and immediately there after constructed thereon an electric lighting and power plant at a cost of Nine thousand six hundred ninety-seven dollars and thirty-five cents ($9697.35), an inventory of the property of said plant being attached hereto and made a part of thia instrument. And Whereas. Said citizens bor rowed the funds to construct said plant and obligated themselves to pay the same, with interest at eight (8) per cent per annum, as follows, to-wit: Five thousand ($5,000) dollars on or be fore September 1, 1910; Four thousand ($4,000) dollars on or before September 1. 1911; and Six hundred ninety-seven dollars and thirty-five cents ($697.35) payable at this time, which said indebt edness is secured by a Deed of Trust against said plant and premises, and have incorporated “THE PAONIA ELECTRIC LIGHT AND POWER COMPANY” and conveyed said plant and premises to said Company, subject to said indebtedness and security, for the purpose of more conveniently transacting thia business. And Whereas, It is proposed and agreed by and between the parties hereto that said plant shall be operated by said Town under a lease and agree ment defining the rights and obligations of l»oth parties, to effectuate the objects ami preliminary understanding herein before set forth. Therefore, This lease and agree ment witnesseth: That said Company has leased unto the said Town Lots No. in Block No. 11 thereof, together with the electric lighting and power plant on said premises, until September 1, 1910. And Said Town Agrees: That it will maintain said plant dur ing said least' in as good repair, natural wear and depreciation excepted, as the same now is. That it will operate said plant and furnish service to its consumers at rates not less than those now fixed by its Or dinances. That it will pay to said Company as rental for said plant, beginning Decem ber 1, 1908, at which time said Town be gan to operate the same, until Septem ber 1, 1910, eighty per cent (80) of the net revenues of said plant; and provided that said net revenues shall be taken and held to be all of the revenues de rived from said plant after deducting therefrom all moneys expended by said Town for fuel, for necessary repairs to the plant which shall be taken to include oil, waste, etc. as well as actual repairs to the boiler, engine, generator and building; and said Town further agrees to charge to its general fund and credit to its electric light revenves One dollar and twenty-five cents ($1.25) per month for each street light of thirty-two candle power now in use. and that may tie hereinafter installed on the streets of said Town during said term. This lease and agreement shall be held to apply to the operation of said plant since the first day of December, 1908. Said Town shall pay said rentals as follows: The rentals for the months of De cember 1908, and January. February and March 1909. on the first day of April 1909, and thereafter quarterly. m consideration of the premises SAID COMPANY AGREES: That It will upon the signing and delivery of this Instrument furnish to said Town a statement of all moneys expended In the construction of said plant, accompanied by vouchers showing such expenditures, together with an Invoice of the plant; wherever said plant Is re ferral to herein It shall lie taken and held to mean and Include the real property hereinl>ef»>re described, to-; gether with all Improvements there on. That It will and liereby gives and grants unto said Town the exclusive right and option to purchase said plant at Its actual coat, as shown by the attached inventory, at any time during said term, subject to the Deed ol Trust securing said Indebted ness. That It will from and out of said rentals pay insurance premiums and 1 taxes on said property, together with Interest upon the indebtedness created to construct said plant. That after paying the items men i t foiled In the last preceding para graph It will apply the surplus of said rentals, if any. to the liquida tion of Its said indebtedness and that It will In the event the said Town ex i erclses Its option to purchase said ! plant during said term, credit the Town upon said purchase price with all amounts that may have been theretofore paid by It on its said In debtedness, and transfer to said Town title to said plant npon pay ment to It by the town of any of said Indebtedness then remaining unpaid. Provided, also, that In the e\*ent said rentals liquidate all of said Indebtedness, during said term, said Company will and It binds Itself to transfer said plant to the Town without further consideration. And said Company further agrees that In the event said rentals are sufficient, during said term, after paying Insurance, taxes and Interest to liquidate the Indebtedness of six hundred ninety-seven dollars and thirty-five cents ($697.35) due at this time, together with the five thous ? and dollars Indebtedness due Sep > tember 1, 1910, then this lease shall I Iks extended a iwriod of one year, up » on the same terms herein contained : and said option to purchase herein ■ granted to the Town shall be ex i tended on like terms for the same > period. Provided, also, that in the event ; the surplus rentals herein provided for shall not lie sufficient to liquidate * the Indebtedness of five thousand I dollars ($5,000) due September 1, 1910, and the Town is for any reason at said time unable to exercise Its 5 option to purchase said plant, said option shall be thereby extended thereafter for a period of four months. that whenever said Company shall have one thousand dollars ($1,000) ‘ In hand, from said rentals, afterpay ment of Interest, taxes and insurance I premiums as herelnlsefore specified. | It shall use such sum to liquidate I one thousand dollars (SI,OOO I of Its , said Indebtedness. Said Company agrees to keep said plant insured during said entire , term, for a sum not less than six . thousand dollars. In Witness Whereof said Company I has caused this instrument to he . signed in duplicate by its president, , attested by Its secretary, and its corporate seal hereto affixed: and said Town by a Resolution of its , Board of Trustees duly and regu larly adopted as provided by law. has caused this Instrument to be , signed by Its mayor, attested by Its , clerk and recorder, and Its corpor ate seal hereto affixed. The Paonia Electric Light and Power Company, attest Secretary. By President. The Town of Paonia. attest Clerk and Recorder. By Mayor. Motion was made and duly seconded that the resolution be adopted and the Mayor and Re corder be and are hereby author ized and directed to execute the foregoing contract on behalf of the Town of Paonia. On roll call trustees Henn, McKaughton, Nel son, Olinger and W elborn voted aye. Carried. Moved and seconded that the town accept the proposition of the users of the electric light line on the west side of the river known as the Beezley line, to pay the town SIOO.OO and take over the line. The town to furnish the current through meter at town limits. Carried, all present voting aye. The Finance committee pre sented the following bills: Clinton Oliver, printing 500 warrants $ 4.50 A. Campbell, Ibr.elec, light line. 2*2.50 E. E. Hnfty, freight on elec. supplies 11.00 Albert Sechrist; M’fg. Co 38.59 E. E, Hnfty, recorder’s salary. 40.00 First National Bank, rent on safety deposit box 5.50 , Western Elec. Co, supplies 7.20 Cline & Hnfty, rent council chamber 10.00 Paonia Plumbing Co., making tap and supplies 5.10 Hockett & Edwards, livery service 3.00 W. It. Jewell, salary Elec, and Water Supt 1*5.00 Grant Ueter, salary engineer elec, light plant 75.00 A. B. Campbell, lbr. elec, line . 27.50 J. H. Hill, salary as marshall. 48.00 W. F. Conlne, coal for electric light plant 106.50 T. E. Shears, premium on pol icy No. 126n0 80.00 R. Murray, collecting electric light bills 3.00 Paonia Elec. Light & Power Co., premiums on Policies No. 10452996, A 564380 and 58. 165.00 Moved and seconded that the bills be allowed and warrants or dered drawn on proper funds for the amounts. Carried. Council then adjourned to meet on call of mayor. E. J. Mathews, Mayor E E. Hufty. Clerk Wanted. A few first class Real Estate Loans, optional payments on Town Residences, no delay, money on hand. C. C. Hawkins. FOR SALE:—Twenty acres choice fruit land near Elberta, under fence; ten acres orchard twenty Inches of perpetual water: $6,000 on easy terms. Now Is the time to take advantage of low prices as prices will double with the next crop. I. D. McFadden. Notice of Adjustment Day. Bttnte of Suale C. Dorer IVivamil. The undersigned. having Iwn Appointed Administrator «>f the Estate Susie t\ Dorer. Into of tin* County of Delta. In the State of Colorado, deceased. hereby (riven notice that he will appear before the Conuty Court of *nid Delta County, at the Court Hou**e in Delta, In aald Countv, on Momlnr. the 15th day of March. A. D. 1 909. at the hour of 1 o’clock I’. M. of said day. at which time all |>erwon* ha vine claim* against said estate art* notified and re <iue*tod to attend for the purport* of having the name adjusted. All persons indebted to said estate are requested to make Immedi ate payment to the undersigned. Dated at Paonia. Colorado, thia Sth day of February. A. D. 1909. K E. Mouuk, Adminldtrator of the estate of Suale C. Dorer Deceased. Mkki k D. Vincent. Attorney. Firat Publication. Feb. 12, 1909. Last Publication. March 12. 1909. Application for Grazing Permits. NOTICE la hereby given that all at>p|ica~ tiona for permit* to grate cattle ami horse within the GUNNISON NATIONAL FOREST «luring the aeaaon of 1909. muat be filed !u my office at Gunnison. Colo., on or befotv March 2, 1909. Full information in regard to the gracing fee* to be charged am! blank forma to In* used in making application* w ill l*e furtilahed upon request. WM. 11. KUKI'TZKB, Nup.n i.or.