Ordinance 2205 - Laserfiche WebLink

• 1 by it, to examine the books and affairs of grantee, his heirs, 2 a.drministt tors and assigns, and to compel the product i n of 3 all books and papers pertaining to such report . 4 Section 9 The grantee herein, his heirs, administrators 5 and as-signs, holding this franchise is prohibited from issuing 6 any capital stock on account of the franchise or the value thereof. 7 The grantee, his heirs, administrators and assigns, shall have 8 no right to receive upon purchase or condemnation proceedings 9 brought by the city to acquire the public utility using such 10 franchise, any return on account of tract franchise or its value. 11 Section 10 No sale or lease of this franchise shall be 12 effective until the assignee or lessee shall have filed in the 13 office of the city clerk an instrument , duly executed, reciting the 14 fact of the sale or lease, accepting the toms of the franchise 15 affected, and agreeing to perform all the conditions required 16 of the grantee thereunder. The assignee or lessee shall also 17 file a bond in such amount and with such conditions as the 18 council ray require, which bond shall run to the city as obligee, 19 with sureties satisfactory to the council, and shall obligate 20 the grantee, or lessee, to discharge all obligations and liabil- 21 ities imposed upon the grantee by this franchise, 22 Section 11 In order to claim the rights and benefits 23 of this ordinance S. W. Way, shall within 30 days of the passage �4 hereof, file in the office of the city clerk, its acceptance 25 in writing , of the franchise granted by this ordinance, 26 subject to all the conditions and. provisions thyreef. 27 r'�.6- `j1 er v r 28 sscd - sroftyi n5 ; $l, 29 ttest ; l i u lrl i sl,ecI „Tt"re. ZS" 30 31 LAW OFFICE OF 5 C. W. JORDAN EVERETT,WASHINGTON