4 - City of Oxford

97768- TOM
MINUTE BOOK No. 24, CITY OF OXFORD
5•
and delivering the note or notes, as and 1 B
Upon Oxford making the payment /Set out in paragraphs 1 A /to North East,
North East will convey to Oxford by proper instrument those items set forth
in paragraph 1 above.
6.
Oxford and North East agree to cooperate fully, each with the other, in
accomplishing the purposes herein set out.
This agreement is subject to R. E. A.'s approval and to the area to be
acquired by Oxford being deleted from North East's present certificate of public
convenience and necessity and said certificate being re-defined, re-constructed,
and re-established by the Mississippi Public Service Commission. In the event,
however, the above actions of R. E. A. and/or the Mississippi Public Service
Commission cannot be obtained by North East by June 30, 1969, Oxford and
North East shall not be bound by the June 30, 1969 deadline heretofore set out,
but Oxford and North East shall complete performance within a reasonable time
after such actions have been obtained. Further, in the event this purchase and
sale is not consumated because of the failure or refusal of R. E. A. and the
Mississippi Pbblic Service Commission to perform as above-set-out, North East
shall promptly reimburse Oxford for any plant additions made by Oxford in the
areas to be acquired by Oxford, and Oxford shall promptly reimburse North East
for any plant additions made by North East in the areas presently served by
Oxford outside its corporate limits.
ATTEST: CITY OF OXFORD, MISSISSIPPI
By By
City Clerk Mayor
ATTEST: NORTH EAST MISSISSIPPI ELECTRIC
POWER ASSOCIATION
By By
Secretary President
Alderman Owens seconded Alderman Hannaford's motion, and upon the Mayor
calling for a vote, it was as follows:
Alderman Hannaford voted Aye
Alderman Owens voted Aye
Alderman Sisk voted Aye
Alderman King voted Aye
Alderman McLaurin voted Aye