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Home My WebLink About5.236 Original ContractAGRMITUT made and ont000d into this ay of Juno 1024, by and between Waila PACIPIC oUBLIC rC3LfZ a oorporc- tion, as party of Coo firat part, and CITY OP PORT ANaULM, a nunioipal corporation and city of tho third °10 undor commisolon form of Gov- ornmont under tho lava of 'Ca° otate of Uasuington, ao party (70 tho oecond part, LIT2O*,T11 that 71111CAS horetoforo unOcr date of rca, 26, 1924, a oortain agroo- ont waa loodo and c torod into by nn C betweao O. Goyolour, ao paoty of the Oirct part and aoid city of Vert Anoplos, au party oC tl.te oecond part, in ono. by which aaia agrooroont it la recited taat the said o. O. Ooyoour, boinr; the presidont of said NortA PaolOic ezAblio ;%orvico CoTmany, a oorporation, and being the miner of the majority of the otock and contr011ino intoreot in oald corporation, desired that the said corporation should sell to to cold city of Port Anoolea tho wator V0P1 ystom owned by oald corpmoction and aupplying water to tho city of Port Pmgeles and inhabitanto and industries Uoroof, and all ritOhto and intorost thorOin, locatOd in and adjacont to said city or used in connection with oald water oorotom, for'a purchaoo prico and upon terms and oonditions ao set forth in said agreement, and in and by said written Looreement the said \7. i. Boynour did promise and arce to at onco irocood diligontly and without Interruption by and thyouoh hi a acid eontrollino intoroot in said oorooration to oocuro moll action by tho otookholdero and diroctors of said oorporation that the oat(' oorporation Should, on or bofore the 20th day of dobruary, 1025, soIl and transfor to tho said city of Port Anpolo s all o$ the oaRiwater system and real and personal property mentioned and deseribod in to recital In oaid contract as above montioned and referred to, and for tho prico and on the terms in said contraot mentioned and set forth, and =RIMS to stootholdors and diroctoro of oald NorthPaolfio oublic tiervice COmpnny, a corporation, have heretofore duly and roo,olarly authorized tho sale and transfor by oaid Worth Pacific Public f3orvieo/ Company to the ssid city of said wator work oyotem and proporty for the prioo and up02 the toms and conditiono aet forth in said prior contraoto WOW, TILO11117011:3, in oonsidoration of the promisoa and tho mutual covenants and cooroomento horoin contained and the sum of Ono Dollar paid by the party of the 0000nd part to tno party of the first part, receipt of whioh is horoby acloloolodood, the party of the firat part door heroby promise and agree to soil and transfer to tho party or the oeuond part tao water wor%soystom owned by said Vorth Pacific Pub- lic Oo-vie C; a corporotion, for snopiyinG water to tho city of Port Angoloo and inh&bttants and induotries oonalotin6 of and includino all of to property of said ourporation0 both real and per- sonal and all righto and intoroot thoroin, located in and adjacent to cold city o' uood in connection vit:;, said water oystom, for a purchaao prloo in the oum of Two ;Zundood Biffaty Thouound Dollars (0200,000.00) to be oald by Gala city to tho oala co7000vaOion in oviThl,lo o011it7 ',oncfto at t' one. ootall bo a aaa paoanount lion o_oon all of tho oaid orator oyote on0 pooporty anti tao rT0Q0 cornloogo eroof, said bondo Joaring int000st at to rato o2 sin per contum per annum payacolo oomiannually, all tn acoordanco with tiro laws of tao'otato of 'acOaingtOn portaiFolno thoroto, or to bo paid by oaid city in cosh at the election cad option of said eity. Vho cold water oyotool proporty ana rioAto hall bo sold and trans- forred froo and oloar of all onourAoancos, liono, char000 o inOebtecl- neos what000vor, providod howevor, that t:Io obligation and contoact of aaid corporation to furnish water to the reoent Boxboard Company shall bo aosumed and carriod out by the party or the oecond part gnd the amount of tho vaster to bo aurniohed thoreundor to said Crescent Boxboot-oa Co; as measurod in money shall bo doductod from the amount of the said purohnoe price of Two nundrod .74hty Thousand (280,000400) Dollars, and poovidod further that any other =toting oontraot oblioationo o said corporation to furnish water of the oame General nature as Gold Cre000nt :ooxbbard Copany dhall bo assumed and oarriod out by tho said party of the second pt in the oatoo mannor and frith the same deduction from purohase priee The aaid party of tho oocond part, the paid City shall aoree to make ooasonablo effort to oolloct any accounto aad debts owing to the oaid oor poration at the time toansfor of cold water system shall bo made and account to said corporation for all sums oollooted, all without coot to the Said corporation,. IN 1;71N io XilliE0 the partioo eto have eneoutod this noroemont tho day and yoao firot above writton. Ti e party of the seeond part, ontd city of Port gnsoloo, ahail call and hold an, oloation as Goon ei"oafter a a ahall be leoally valid, and oubmit to the voter of oaid oity theregt the oropooltion of purchase of said water syotoD, plant, and oroporties, on to terms as aforesaid, and,in tho event said propoaltion and bond issue shall carry at such oleotion by the requisito majority,oalo and transfer on the terms aforesaid ()hall bo made and consummatod on or prior to Pobruary 28, lom. In the event said sale and tranofer shall be finally consummated, the party of tho socond part, the said city of Poot Anoeles, shall maintain ond oharce ouch rates for' wator furolohod as shall provido suffloiont rovonuo for paymont of prinoipa and intoroot of to oald bonds ma tho oono shall become duo, and payable All r000lutiono ordinancoo, oloction notioes and othor pr0000dings by the party of tho ocoond part, oaid city, pursuant b.oreto shall bo in manner and 'ano as required and pr000ribed by T, L Stileo, AttornOy-ate a of Tacoma., ‘ashin or such othor attorney or attorneys an may bo mut- ually oorood upon by tho paoties horeto and said oorparation, a to the end that oaid bonds, ifl isouod, shall bo leoal and valid, Tho cold preoent water syntom, plant, and properties, ohall bo main- tained, Owing tho period prior to ouoh sale and transfer, by mid North Padifio Pi.blle Servico Company at the present efficiency and in as 000d condition os at poesent, ordinary depreciation exooptod, at the e:cponso of tho said 000poration, provided that any extonolons thoroof or additions thoroto shall ho made only by mutual agrooment of the partioo hereto wad ealdoaelapoPatool au to tho work to bo don° and the cost thereof, and the actual cot thoroof ohall be tho n added to said puochaso price. r.r:72: 02 NinT ANV,Z3 T2 oioo Its Eayor /o Attost; 6 clopk. ifac U Anooloo„ CB CuPANY s f Port tT 01? 7ACIUaT Cbunty of nerCe," on thio 4, day of Wune, 3. appeared Q4 e!‘nou7r and YW-6411 1 to be the prooldont Pacific ?ublic Ljervice Company, o wItin a7.1(1 fcroegoing instrument, and ac beiore me poroonally to me kopootivM or:north ation that executed tL 71edsed tic said inotru- mont to be t free and voluntary act and 0,eod of said corporation, for the 'erica and purposes t;Aerein mentioned, and on oath otated that ho vas auttlered to exenute caid instrument and tIlat the coal affi=d la the corporatb seal of saod corporation, 4 t In ultness vl,m-eof, 1 have Lerounte set uu aeal the day and year first above vritte hota177 i-Ao at L,tato of i:!ashint;ton, Tacana c_ afa7,o6 4 eivirc—i C. r A-NI/tut