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<br /> <br /> <br /> <br /> <br /> <br /> Section 15. This grant is made upon the express <br /> conditions that the nonexercise of the power to regulate <br /> rates and charges which the grantee may charge to the public <br /> in the operation of its business shall never be construed as <br /> an acquiescence or recognition of the justness or correctness <br /> of said grantee's established rate, and that so long as the <br /> governing bady of the City of Paris does not exercise its <br /> legislative and governmental power to fix and regulate the <br /> rates that the grantee herein shall charge to the public, the <br /> questiori of property values used and useful in the rendering <br /> of the service prior to rate regulation shall never stop the <br /> City from determining the real or actual value of property <br /> used or userul in rendering such service. If, and when, the <br /> City Council or other goverriing body shall exercise the power <br /> to fix the rates to be charged tor such service in the City <br /> ot Paris no allowance iri the way of said rate shall be made <br /> as compensation tor any property used or consumed in <br /> rendering the service by the grantee herein for such service. <br /> If, and when, the City Council decides to regulate rates, <br /> then at such time the Council will tully exercise its rate <br /> regulatory power under the pravisions of law applicable <br /> thereto, and the iaiiure to provide under this ordinance the <br /> machinery tor the administrative, legislature or executive <br /> control of such matter shall not preclude the Council from <br /> fully exercising that power and providing suitable provisions <br /> to enforce such power. <br /> Section 16. Should it be determined that any clause, <br /> condition, or covenarit of this iranchise is, for any reason, <br /> illegal or unenforceable, such clause, condition or covenant <br /> shall be disregarded and the existence of the same shall not <br /> affect the remaining clauses, conditions or covenants of this <br /> frarichise. <br /> Section 11. That any unwarranted and intentional <br /> neglect, failure or refusal of said grantee to comply with <br /> any of the conditions and stipulations contained in said <br /> franchise shall thereupcn immediately, ipso facto, effect a <br /> forfeiture thereot, and the said City, by the City Council, <br /> inay thereupon declare said franchise forfeited, and nay <br /> exclude said grantee trom further use of the streets of said <br /> City under said franchise, and said grantee shall tnereupon <br /> and ijrimediately surrender al.L rights in and to the same, and <br /> said franchise shall become null and void and of no effect. <br /> Section 18. Within ten (10) days after the passage of <br /> this ordinance by the City Council, the grantee herein shall <br /> file with the City Clerk, in writing, the acceptance of the <br /> terms and provisions of this grant. <br /> Section 19. Introduced, read and passed on first <br /> reading on April 8, 1991, ar: a regular meeting of the City <br /> Council of the City uf Paris; second reading at a regular <br /> meeting of the City Council on May 9, 1991; and tinal reading <br /> at a regular meeting of the City Council on May 13, 1991, the <br /> same being three separate regular meetings o{ the City <br /> Council of the City of Paris, the iast being not less than <br /> thirty days from the first. <br /> This ordinance shall become effective sixty (60) days <br /> from the date of the third and tinal reading. <br /> Passed and adopted on tl7ird and final reading this 13th <br /> day of May, 1991. <br /> By <br /> Ge rge is er, Jr., Mayor <br />