- Adjourned regular meeting.
- Mayor SMITH presiding.
- Present - Ald. BUCKERIDGE, CLARKE, GARDNER,
GESLEY, HANSEN, HELM, HEWITT, LEDELL,
- MERRILL, MUELLER, NEEDHAM, POLLOCK,
SHARP - 13.
- Absent - Ald. CUNNINGHAM, DAY - 2.
- The matter of the purchase of the Water Works plant being
the special business of the meeting it was taken up and
- Ald. HELM, for the Water Works committee, presented
the following report:
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- To the Hon. Mayor and Common Council of the
City of Beloit: -
- Your Water Works Committee, to whom was re-referred
the proposition of the Beloit Water Works
- Company to sell its system of Water Works
to the City of Beloit, respectfully report:
- We have received a proposal in addition to
that already submitted from the Beloit Water Works
- Company, which is dated December 5, 1900,
and submit the same herewith.
- We are of the opinion that the City should
not purchase the water works system for the price
- demanded by the company and recommend that
the same be not purchased at that price. We recommend, however,
that an appraisal be had to determine the value of said system
of water works upon the basis provided for in Ordinance No. 12,
of the Ordinances of the City of Beloit and upon the basis of
the said proposal of Beloit Water Works Company, dated Dec. 4,
1900.
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- To the Honorable Mayor and Common Council
of the city of Beloit:
- Gentlemen: In case of an appraisal of our
system of water works in the city of Beloit, the Beloit Water
- Works Company undertakes and agrees:
- If the appraisers selected, fix the value
of the system at a figure which the city of Beloit is willing
to
- accept as the purchase price, the Water Works
Company will either arrange with the holders of its bonds and
the city of Beloit so that only the equity of redemption of the
company in its said system need be purchased, and the bonded
debt of the said company need not be assumed by the city of Beloit,
or the Beloit Water Works Company will pay the entire expense
of the appraisal, except attorney's fees.
- The Beloit Water Works Company also agrees
that in case an appraisal is had that the city of Beloit
- shall not in any event be called upon to
pay more than one-half of the expense of said appraisal and one
thousand dollars in addition to said half of said expense, the
said Beloit Water Works Company hereby agreeing in any event
to pay the balance of said expense.
- Dated, Beloit, Wis., Dec. 5, 1900.
- BELOIT WATER WORKS CO.
- By C. B. SALMON, Treas.
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- Ald. HELM presented the following resolution which
was adopted by the unanimous vote of the Council, the ayes
- and noes being called: -
- Resolved, That the report of the Water Works committee
relating to the proposal of the Beloit Water Works
- Company to sell its system of Water Works to the City of
Beloit be adopted and that the proposal of the Beloit Water Works
Co. to sell said system to the City for $237,500 be and the same
is rejected. Be it further
- Resolved, That an appraisal of said system of Water
Works be had as provided for in Ordinance No. 12 of the
- Ordinances of the City of Beloit, except so far as the expense
thereof may be limited and controlled by the proposal of the
Beloit Water Works Co. dated Dec. 5, 1900. Be it further
- Resolved, That the committee on Water Works be and
the said committee hereby is authorized and empowered, if
- necessary, to appoint a competent man to act in confirmation
with the Water Works Company in making an accurate inventory
of all property being a part of said system of Water Works, and
that the said committee be and it is hereby instructed to investigate
and recommend to this council as to whom shall be chosen as an
appraiser by the city and that the said committee report to this
council such further steps as are deemed necessary to be taken
in the premises. Be it further
- Resolved, That a copy of this resolution together
with a copy of the report of the Water Works committee this day
- submitted, and the action of the council thereon, be served
by the City Clerk upon the Beloit Water Works Company.
- Ald. NEEDHAM presented the following resolution which
was adopted: -
- Resolved, That the Waterworks committee is authorized
to incur any expense for traveling, etc., which may be
- necessary in consulting and selecting an appraiser to determine
the value of the waterworks system, and that all expenses so
incurred by any member of said committee shall be paid by the
city.
- On motion the Council then adjourned.
GEORGE B. INGERSOLL, City Clerk.
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