MYFBS, MAY(R - the Digital Library of Georgia

MYFBS, MAY(R - the Digital Library of Georgia MYFBS, MAY(R - the Digital Library of Georgia

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MAYOR'S ANNUAL REPORT. 375cil assembled may see fit to pass respecting the privilegeshereby granted, or the use of any streets that maybe used by the said Vernon Shell Road Company, orthe exaction not only of a property tax, but alsospecific or business taxes for the use of the saidstreets based and graduated under the terms ot thepresent ordinances of the city of Savannah respectingthe taxation of street car companies, or such amendmentsthereof as the Mayor and Aldermen of the cityof Savannah may hereafter pass.(d) The above privileges and franchises, with allconditions attached thereto, must be accepted by theVernon Shell Road Company within sixty (60) daysfrom the passage of this ordinance, and in the eventof the acceptance it shall give a bond in the sum offive thousand ($5,000) dollars conditioned for thecompletion and operation of the said railroad throughthe streets above enumerated, and to White Blufif, inChatham county, Georgia, within twelve (12) monthsfrom the date of the said acceptance, the time barredby the sanitary regulations of the city of Savannahin constructing said work on the streets of the saidcity not to be included in said twelve months, so faras the work in the city is concerned. The said bondof five thousand ($5,000) dollars shall expressly providethat the said sum is agreed upon as liquidatedand stipulated damages, and not as a penalty, andthat the said sum will be paid to the Mayor and Aldermenof the city of Savannah as liquidated andstipulated damages should the Vernon Shell RoadCompany not comply with the terms thereof. Inaddition to this the further stipulation is expressedthat, in the event of the failure of the said railroad

378 MAYOR'S ANNUAL REPORT.company to complete and operate the said railroadwithin the time mentioned, it shall thereby forfeitthe franchises and privileges within the corporatelimits of the city of Savannah.(e) In order that the granting of the streets hereinmentioned to the Vernon Shell Road Company maynot deprive the city of Savannah of the right in thefuture to grant franchises to future applicants fornew lines, that is to say, to companies or personsnot now using the streets of the city of Savannah,the city reserves the right to grant at any time toany person or corporation not now possessing rightsand franchises as to streets, the right to the joint useof any track on the streets mentioned in this ordinance; the damages to be paid for the use of thetracks already constructed to be decided by arbitration,composed of an arbitrator to be selected by theVernon Shell Road Company, another to be selectedby the new company, and the third to be designatedby the Mayor of the city of Savannah, which saidarbitration shall fix the damages to be paid by thenew company for the use of said track, and theaward of the said arbitrators shall be final, and shallnot be subject to any appeal to the courts.(f) The conditions, stipulations, and obligationsspecified or indicated in the foregoing ordinanceshall bind not only the Vernon Shell Road Company,but its successors and assigns, and any personor corporation that may use or attempt to use thesaid privileges, or any of them, in the name of thesaid Veruon Shell Road Company.(g) In the event the city of Savannah does notown the title to any of the streets above named andI

378 <strong>MAY</strong>OR'S ANNUAL REPORT.company to complete and operate <strong>the</strong> said railroadwithin <strong>the</strong> time mentioned, it shall <strong>the</strong>reby forfeit<strong>the</strong> franchises and privileges within <strong>the</strong> corporatelimits <strong>of</strong> <strong>the</strong> city <strong>of</strong> Savannah.(e) In order that <strong>the</strong> granting <strong>of</strong> <strong>the</strong> streets hereinmentioned to <strong>the</strong> Vernon Shell Road Company maynot deprive <strong>the</strong> city <strong>of</strong> Savannah <strong>of</strong> <strong>the</strong> right in <strong>the</strong>future to grant franchises to future applicants fornew lines, that is to say, to companies or personsnot now using <strong>the</strong> streets <strong>of</strong> <strong>the</strong> city <strong>of</strong> Savannah,<strong>the</strong> city reserves <strong>the</strong> right to grant at any time toany person or corporation not now possessing rightsand franchises as to streets, <strong>the</strong> right to <strong>the</strong> joint use<strong>of</strong> any track on <strong>the</strong> streets mentioned in this ordinance; <strong>the</strong> damages to be paid for <strong>the</strong> use <strong>of</strong> <strong>the</strong>tracks already constructed to be decided by arbitration,composed <strong>of</strong> an arbitrator to be selected by <strong>the</strong>Vernon Shell Road Company, ano<strong>the</strong>r to be selectedby <strong>the</strong> new company, and <strong>the</strong> third to be designatedby <strong>the</strong> Mayor <strong>of</strong> <strong>the</strong> city <strong>of</strong> Savannah, which saidarbitration shall fix <strong>the</strong> damages to be paid by <strong>the</strong>new company for <strong>the</strong> use <strong>of</strong> said track, and <strong>the</strong>award <strong>of</strong> <strong>the</strong> said arbitrators shall be final, and shallnot be subject to any appeal to <strong>the</strong> courts.(f) The conditions, stipulations, and obligationsspecified or indicated in <strong>the</strong> foregoing ordinanceshall bind not only <strong>the</strong> Vernon Shell Road Company,but its successors and assigns, and any personor corporation that may use or attempt to use <strong>the</strong>said privileges, or any <strong>of</strong> <strong>the</strong>m, in <strong>the</strong> name <strong>of</strong> <strong>the</strong>said Veruon Shell Road Company.(g) In <strong>the</strong> event <strong>the</strong> city <strong>of</strong> Savannah does notown <strong>the</strong> title to any <strong>of</strong> <strong>the</strong> streets above named andI

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