1962-029 Council Ordinances - Laserfiche WebLink

Home Search

ORDINANCE NO. 29 THE VILLAGE OF LINO LAKES, MINNESOTA AN ORDINANCE AMENDING ORDINANCE NO. 28 WHICH GRANTS TO THE UTILITIES COMMISSION OF THE VILLAGE OF CIRCLE PINES A NON-EXCLUSIVE FRANCHISE TO ERECT, CONSTRUCT, AND OPERATE A GAS DISTRIBUTION SYSTEM IN THE VILLAGE OF LINO LAKES. The Village Council of the Village of Lino Lakes does ordain: vTION . That Section 6 of Ordinance Ho. 28 is hereby amerkded. so thet the rs rzta sell hereafter read as follows: The Grantee, its lessees, successors, and assigns shall notTis ee an,r capital stock on account of the franchise hereby granted for the v t :ie. thereof, and shall have no right co receive, upon condemnation ~ � ceedin s brought by the Village to acquire the P i-- �, g g public utility using this franchise, any return of this franchise or its value. In the pent that the Village of Lino Lakes determines that it wishes to enter into the municipal gas operation itself, then upon -written notice it shall have the right after a period of ten (10) years from the date hereof, to purchase all of the gas installations of the Grantee within the Village.corporate limits, for the actual cost of constructiea including pro rate sh.'re of financing and admini- strating such costs, Jess depreciation, hue eot less than the cost o: retiring all outstanding bonds or other cbl_3ations issued by the Village of Circle Pines attributable to €:aid gas installations. (For the purpose of calculating depreciation costa and reserves, the Grantee shall classify its re:perty in conformity with the uniform system of accounts for gas utilities heretofe re adopted by the Ntttional Associati.or of Rail:aay and Utility Commissioners and depreciation rates appropriate and applicable shall conform to those established by the industry.) In case of purchase by the Village of Lino Lakes, the Grantee agrees that it will cooperate in::dcing whatever is necessary to assist the Village of Lino Lakes in obtaining a gas quota from the Federal Power Commission. It shall be a condition of each contract entered into by the Crantee with reference to operations.under this franchise that it shall be subject to the exercise of the option to purchase by Lino Lakes and that Lino Lakes may be substitited for the Grantee as a party to any such contract and may succeed to all the privileges and obligations thereof. SECTION 2. That Section 10 of Ordinance No. 28 is hereby amended so that the same shall hereafter be and read as follows: SECTION 10. The Grantee, its succes:acrs or assigns, shall at ail times provide and furnish adequate, safe e-rd continuous supply of gas to the Village and its inhabitants within its ability. Gas furnished to consumers under this franchise shall be of marketable quality and free from impurities except that it shall contain some dement or