Decatur Daily Democrat, Volume 57, Number 305, Decatur, Adams County, 29 December 1959 — Page 4

PAGE FOUR

DECATUR DAILY DEMOCRAT Published Every Evening Except Sunday By THE DECATUR DAILY DEMOCRAT CO., IBC. Entered nt the Decatur, Ind., Post Office as Second Class Matter Dick D. Heller, Jr. —President John G. Heller Vice-President Chas. Holthouse Secretary-Treasurer Bubscrtptlen Rates By Mail in Adams and Adjoining Counties: One year, $8.00; Six months, $4 25; 3 months, $2 25. By Mau, beyond Adams and Adjoining Counties: One year, $9.00; 6 months, $4.75; 3 months, $2.50. By Carirer, 30 cents per week. Single copies, 6 cents County Roads The December issue of the Indiana association of county commissioners magazine carried a little story, under the heading “What every county official should know,” that applies just as well to every county citizen. Every county resident should know and understand where the money used on county highways comes from. The property tax, through the bridge fund, pays for bridges. But money for the stone comes from the gasoline tax distribution. Therefore, when farmers ask for rebates on their state gasoline tax, they are cutting down on the amount of stone, or paving, that can be put on the roads. • But to get back to the magazine story—it goes as follows: “Pity the poor county road man. “If he works in a storm until 2 a.m. his friends want to know what he’s doing lazying in bed at 7 a.m. “If he doesn’t fill the holes in the road he’s not doing his job; if he-does, he’s dumping the taxpayers’ money in the mud. “If he fixes the road past his place he’s pulling a big graft; if he doesn’t it’s proof that he doesn’t even keep the road nearest him in good shape and he’s not doing the job. “If the winter weather tears up his roads he catches it for neglecting them; if he is lucky and not much damage is done, then the county is paying him for nothing. “If he builds a bridge he ought to be puting in his time on the road; if he grades a road he’s neglecting the bridges, z “If he doesn’t keep the ditches graded clean he’s not doing his job; if he does he’s blamed for piling mud up on the road. “If he gets a road blacktopped the 90% on the other roads complain; if he doesn’t, everyone complains. “If he makes a good road the engineer is given the credit; if he follows the engineer’s plans and they don’t work then he’s the one who catches it. “If he wears out his machinery he’s neglegent; if he doesn’t, he must not be doing any work. “He catches it from the housewife who lives on a dusty road and from the mother whose children track in oil “He is cussed out, ripped up, criticized, talked about, written about, and begged to take another four - year term!”

Central Daylight Time

WANE-TV Channel 16 > TUESDAY Ctcblk* 4:00—Amo« A Andy 4:Bo—Tom Caleaberg New* 4:4s—Doug Edwards-Now* 7:00 —The Littlest Angel 7:Bo—Lock Up - No. 1010 B:oo—Benni* O'Keefe 3:3o—Dobie Gillie 0:00 —Tightrope 9:3o—Red Skelton 10:00—Garry Moore 11:00—Phil Wilson New* 11:15 —W’ife,Doctor, Nurse WKDNKBDAI Mera lag 7:30 —Pepermint Theatre 7:4s—Willy Wonderful 1:00—CBS New* 0:15 —Captain Kangaroo o:oo—Coffee Cup Theater 10:00—Red Rowe Show 10:30—On the Go * 11:00 —I Love Lucy 11:30 —December Bride Afterneen ~i 12:00 —Love Os Life 12:30—Search For Tomorrow 13:45—Guiding Light I:oo—Ann Colon* I:2s—News 1:30 —A* The World Turn* 3:oo—For Better or for Won* 2:30— Houeeparty 3:oo—The Millionaire 840—Verdict la Your* 4:oo—Brighter Day 4:ls—Secret Storm 4:30— Edge Os Night 3:00 —Dance Date (evening 3:oo—Amoe & Andy 3:80 —Tom Calenberg New* 4;46— Doug Edwarde-New* 7:00 —Mike Hammer 7:3o—Lineup B:3o—Men Into Spec* o:oo—The Millionaire x 0:80—I’ve Got A Secret 10:00—U.S. Steel Hour 11:04—FfeU Wilaon New* 11:15 —So Lovely, So Deadly Channel 33 2“ TFEWAY g’.gO twaterdayf* Newsreel* 4:41— Huntley-Brinkley Report 7:oo—Brave Stallion 7 00—Today 0:00—glng Dong: School B:4?-—"nic Editor:. pi-k

9:ss—Faith to Dive By 10:00 —Dough Re Mi 10:30—Play Your Hunch 11:00—The Price Is Right 11:30—Concentration Afternoon 12:00—Newt and Weather 12:15—Farms and Farming 12:30—1t Could Be You 1:00 —Truth Or Consequences I:3o—Burns and Allan Show 2:oo—Queen For A Day 2:Bo—The Thin Man 3:oo—Young Dr. Malone 8:80—From These Roots 4:oo—House on High Street 4 :30 —Bozo Show 5:55 —Road Conditions Report Evening 6:oo—Gatesway To SportT 6:ls—News Jack Gray B:2s—The Weatherman 6:3o—Yesterday's NewSreels 6:4s—Huntley-Brinkley Report 7:oo—MacKenzie's Raiders 7:3o—Wagon Train B:3o—The Price Is Right 9:oo—Perry Como 10:00 —This Is Your Life 10:30 —Wichita Town 11:00—News and Weather 11:15—Sports Today 11:20—Jack Parr Show WPTA-TV Channel 21 TUESDAY Evening 7:ls—Tom Atkins Report 7 :30—Bronco B:3o—Wyatt Earp 9:oo—Rifleman 9:Bo—State Trooper 10:00—Alcoa Presents 10:80—Promenade 21 11:30—-Jubilee U. S. A. WEDNESDAY Moral nc 10:30—Susie 11:00—Romper Room 11:50—News Afternoon 12:00—Restless Gun 12:80—Love That Bob I:oo—Music Bingo 1:30—1 Spy 2:oo—Day In Court 2:3o—Gale Storm 3:oo—Beat the Clock 8:30 —Who Do You Trust 4:o4)—American Bandstand 5 :00—Little Rascals 6:Bo—My Friend Fllcka Evening 6:oo—Fun 'N Stuff 6:3o—Annie Oakley 7:oo—Fun 'N Stuff 7:ls—Tom Atkins Report 7:3O—T.V. Hour of Stars B:3o—Ozzie and Harriet 9:oo—Hawaiian Eye 10:00—Fights 10:45—Sports Desk 11:00—Marines Fly High MOVIES 1 ADAMS "Dog’s Best Friend" Wed. & Thurs. 7:00; 9:45 Good Day for a Hanging” at 8:20

NOTICE Public notice is hereby given that the Common Council of the City of Decatur (hereinafter called “City") In Adame County, Indiana, did by Resolution No. 800 duly adopted by said Common Council on December 31, 11*69, provide for the sale to Indiana & Michigan Electric Company of the electric utility system, with certain exclusions, now owned anl operated by the City and located in and adjacent to the City, and prescribe the manner of such sale, the price at which such property is to be sold and the terms and conditions of such sale, and designate the officers who should execute on behalf of the City the necessary and proper deed and other instruments conveying the title to such property. Further, public notice is hereby fiven that the complete and exact orm of said Resolution No. 300, stating in full ail terms with respect to such sale agreed upon by the Common Council for and on behalf of the City and by Indiana & Michigan Electric Company is as follows: RESOLUTION NO. » CITI OF DECATUR. INDIANA WHEREAS, on April 14. 1959, the voters of the City of Decatur (hereinafter referred to as "Decatur”) by a vote of 1500 "No" and of 1227 “Yes" at the special city election held on that date rejected the sale of the municipal electric utility system (hereinafter sometimes referred to as "Electric System”) owned and operated by the City of Decatur (hereinafter referred to as "City") to Indiana & Michigan Electric Company (hereinafter referred to as “Company”) upon the terms and conditions provided in Resolution No. 100 duly passed and adopted by the Common Council of the City on September 16, 1958; and WHEREAS, pursuant to the results of said election, the Common Council adopted a resolution on April 21, 1959 authorizing certain steps to be taken by the proper City authorities so as to make urgently needed improvements to the Electric System and required additions for the purchase of all electric energy, and to obtain the necessary funds for the same, as well as for the operation and business of the Electric System, through an Increase in electric rates and the further issuance of revenue bonds; and » WHEREAS, on May f®9, 1959, a petition was submitted to the Common Council signed by 2269 voters of Decatur, constituting more than a majority of all of the registered voters therein, and such petition in part reads as follows: "By reason of information and developments which have become evident since the special city election held on April It, 1959, it now appears that it would be highly detrimental and work irreparable injury to the city of Decatur, not only at the present, but in its future growth. and would saddle on the people of Decatur higher taxes and electric rates, it the City were to continue to operate its municipal electric utility and to abandon its efforts to sell. "Accordingly, the undersigned voters of the City of Decatur. Adams County, Indiana, respectfully petition and request that the Common Council and Mayor of the City promptly take all actions and steps, by ordinance or otherwise, necessary or proper in accordance with law, to effect a new and other sale of the municipal electric utility."

: an(| ~ r WHEREAS, uport consideration of said petition and the request of more than a majority of all of the voters of Decatur, the Common Council adopted a resolution on May 19, 1959 requesting the proper city authorities to consider and investigate a new and other sale of the Electric System, to make contact with prospective purchasers and report to the Common Council its recommendations with respect thereto; and WHEREAS, on June 2, 1959. the Board of Public Works and Safety oF the City r-eported -UCthe -Common Couridl that, upon Consideration of said petition, it had conferred with Company with respect to a new- and different sale of the Electric bystem and that the Company indicated that it would present an offer; and WHEREAS, the Company thereafter presented an offer, and subsequent thereto proper authorities and officials of the City met from time to time with representatives of the Company in negotiating and bargaining at arms length with respect to the property and facilities to be sold and the price and terms and conditions of sale: and WHEREAS, pursuant to and in accordance with Resolution No. 200 duly adopted by the Common Council on June 16. 1959, the Common Council and the Mayor, acting for and on behalf of the City, entered into a certain agreement, dated June 16 19.59, With the Company for the sale and purchase.of the property and facilities so proposed to be disposed of: and , W HPHtEAS, the property and facilities so proposed to b e d isposed of under said agreement, dated June 16, 1959, was different in numerous respects from the proper™ and facilities previously proposed to be sold pursuant to and In accordance with said Resolution No. 100, and the price proposed to be paid therefor was a fair and just price and was equally as good a ’price therefor as was to have beep paid for the property and facilities previously proposed to be sold, and WHEREAS, the terms and conditions of the proposed disposition as contained in the said agreement, dated June 16. 1959, were substantially different from the terms and conditions of the prev ous y proposed sale as set forth in said Resolution No. 100; and WHEREAS, pursuant to the petition of more than one hundred freeholders and resident ‘ a ’ £ P»Y e " of Decatur the Common Council at its general city election held on November 3, 1959 tted the question of such a sale to the puali fied voters of Decatur and at said election the voters, by a. vote of 2040 “Yes” and of 1263 "No , voted in favor of such sale; ana WHEREAS, the three appraisers appointed by the Adams ! Coii’t appraised the -property and facliftlea propsed to be sold under said agreement, dated June 16, 1059, Tn an awount in excess of the sale nrice fixed by said agreement and accordingly the aforesaid sale cannot be coiMUmmated under said Resolution Nd. 2«« and -aid agreement datid Juflg J*') I ?'’?,', and WHEREAS, k’B’sjquent to notwithstanding a ?. pr “ ”q’’ ornresentatives of various ganlzations and a the voters of Decatur e urgect and requested the City ’’nd’BUPS take the necessary act !*. n n , f ’tfie to effect the disposition of the Electric System due '« ‘ creasinglv poor and inefficient con dition of the Electric System, its increased costs of ‘'g l'7hl°'j’nadedeclining earnings and the inaae quate and unreliable service, and WHEREAS, it »*•" WL™. titer delay would substantially re duce the amount to be the City from such sale of the Diet trie System and such sale become* increasingly necessary and is in the best Interests of the City, its tax payers apd its users of electric Cn vf the Common Council, by reason of said favorable vote of the voters and continued requestof the voters and parties in Interest subsequent to said deems it advisable and to initiate, in accordance with law, another and further sale of the Klectric System and to that end to enter into ana proceed to carry out an agreement which is in the words and figures, as follows, to-wit: AGREEMENT FOR Pl H« H ASF. OF BKi AITH, INDIANA ELECTRIC UTILITY PROPERTY THIS AGREEMENT, made and entered into this day of December, 1959. by and between the CITY OF DECATUR (hereinafter sometimes called “City”), a municipality in and of the State of Indiana, party of the first part, and INDIANA k- MICHIGAN ELECTRIC COMPANY (hereinafter sometimes called "Company”). a corporation organized and existing under the laws of the State of Indiana, party ot the second part. WITNESSETH: WHEREAS, City, as a municipal

THE DECATUR DAILY DEMOCRAT, DECATUR, INDIANA

utility, is now engaged in rendering electric service In and about the city of Decatur, Indiana (hereinafter called '"Decatur") and owns and operates the electric utility properties and facilities 4>y which such service ie rendered: and WHEREAS. City, pursuant to the expressed will or the voters of Decatur, proposes to sell and dispose of all of its said electric utility properties and facilities with certain exclusions as hereinafter set forth, and, believing that the interests of the City and its residents will be best served by such a sale, is willing to sell and dispose of the same at the price and upon th* terms and conditions hereinafter provided; and WHEREAS, City and Company are. respectively, empowered under their charters and the laws of the State of Indiana to enter into and execute this Agreement and to perform the various covenants hereinafter contained, and have, respectively, done and performed all things necessary to make the same a valid, binding and legal contract, and the execution, delivery and performance hereof has been in all respects duly authorized: NOW. THERE FOR E, TH IS AGREEMENT WITNESSETH: That the parties hereto, each for itself, its successors and assigns, and each in consideration of the convenants and agreements herein made by the other, have covenanted and agreed, and do hereby covenant and agree, as follows: Section 1. Upon the terms and conditions herein set forth, City agrees to sell, transfer and convey to Company, and Company agrees to purchase and acquire from City, all of the electric utility system as now owned and operated by the City in the rendering of electric utility service iii and adjacent to Decatur, including the Diesel plant building and site and all adjoining land presently owned by City in the area bounded by Dayton Street, Seventh Street. Indiana Street and the Pennsylvania Railroad right of way in Decatur; production and power plant equipment and facilities; transmission plant equipment and facilities; distribution plant equipment and facilities; structures; Improvements; substation; overhead conductors; underground conduits and conductors; lines; towers; poles; crossarms; bases; guys; guy wires; cables; ground wires; insulators; transformers; switches; lightning arrestors; meters; services; easements; rights of way and all other kind of operating rights; and any and all other property owned, held or used bv the City as a part of the aforesaid electric utility system:

Excepting and excluding, however, from the aforesaid utility properties and facilities t.he following, which shall be retained by the City: the land and all buildings at the steam generating plant site; the land and building at the City’s line department operating headquarters; all transportation equipment; all communication equipment; all office furniture and equipment; all conduits, conductors, standards, fixtures and facilities used exclusively for street lighting purposes; all fuel; all material and supplies; and cash, bank deposits, bonds, securities, meter deposits and accounts receivable, owned or held by the City. All of the aforesaid electric utility properties and facilities proposed to be purchased and sold hereunder are hereinafter collectively referred to as “Electric Property ** Section 2. The total purchase price for the Electric Property snau oe Two Million Ninety Nine Thousand One Hundred Dollars <52,099,100). Two Million Seventy Three Thousand Fifty Eight and 50/100 Dollars (32,073.058.50) of said total purchase price shall be paid in cash my Company to City at the Closing as in Section 3 hereof provided for, and the remaining Twenty Six Thousand Fortv One and 50/100 Dollars ($26,041.50) shall be paid by a credit in said amount for future electric ser vice to be furnished by Company to City's street lighting system. The Electric Property shall ne. appraised in accordance with Sec-tigs 48-721 4. Burns Indiana Statutes, 193?, as amended, and the appraised value thereof shall not exceed Two Million Ninety Nine Thousand One Hundred Dollars ($2,099,100). Section 3. Consummation ot tne purchase and sale herein provided for (i.e. the Closing) shall be made at the office of the City in Decatur (or such other place, if any, asntay be agreed upon by the parties hereto) and shaft (subject to the provisions of Section 12 hereof) be at 10:00 o’clock A M.. Central Standard Time on the Ist day of July, 1960 (or such other date as agreed upon by the parties hereto). Section 4. At the Closing, City shall deliver to Company possession of the Electric Property and shall transfer good and sufficient fee simple title thereto, free and dear of all liens and encumbrances except those specified in Subdivisions <i) to (ill), both inclusive, of this Section 4 and shall evidence and effect said transfer of title by delivering to Company duly executed instruments of transfer, in form and substance satisfactory to counsel for Company, as follows: (i) Warranty Deed conveying to Company the real estate to be purchased and sold hereunder. SUBJECT ONLY TO: taxes and special assessments, if any, not due and payable on or before the date of Closing; questions' of survey, if any; building lines and building and liquor restrictions of record, if any; zoning and building laws or ordinances; and streets, highways, rights of S way and existing easements of*" record, it any. v (ii) Bills of Sale, with covenants of warranty, transferring to Company all other physical properties and facilities to be purchased and sold hereunder, Si BJECT ONLY TO: taxes and special assessments, if any, not uue and payable on or before the date of Closing. (iii) Assignments, without covenants of warranty, assigning to Company all the rights, title and interest of City in and to easements, rights of way and all other kind of operating fights that are to be purchased and sold hereunder; it being understood and agreed between the parties hereto that City floes not agree to warrant in any way the extent or validity thereof, but only to sell artd transfer to ( ampany such interest therein as City may in fact have and possThe Citv, at the time of closing, shall deliveb to the Company all available instruments, books, records and papers, and oth er data pertaining to the Electric Property, including meter books and customers' billing records for inspection and making copies thereof, after which the same shall be returned to the City. . City covenants and agrees that at or prior to the Closing'all revenue bonds and securities of every nature appertaining to the Electric Property shall have been redeemed and satisfied in full by the City, or that all steps necessary in the opinion of Company's counsel to fully assure sucn redemption and satisfaction will have been taken irrevocably. , ' . . Simultaneously with the sale and transfer of the Electric Property dt the Closing, Company shall pay to City the cash amount of Two Million Seventy Three Thousand Fifty Eight and 50/100 Dollars ($2,0i3,058.50) then due City from Company pursuant to the provisions ot Section 2 hereof. Section 5. City covenants and agrees that, simultaneously: with the transfer of the Electric Property to the ('ompa'ny, the City shall grant to the Company a franchise and indeterminate permit, which shall In form and substance conform to the laws of the State of Indiana ih such case made and provided and be satisfactory to the Company's counsel, grantink to the Company, its successors and assigns, the right to locate and maintain its electric utility service within and adjacent to the City and of transmitting by it electric energy in and through Decatur. Section «. City covenants and agrees that from the date of Closing until such time as the Company haa constructed and put in operation ail transmission, substation and distribution lacilities sulficieut to

i Property? ■ the steam generating plant and the i uxe ot other facilities of every kind ' whatsoever aituated in said generi a ting plant building or on the premises adjacent thereto, the Company i zhall have the right and privilege f to operate and use, without any charge therefor, the said steam gen- : erating plant building’ and the prei mises adjacent thereto and/or all I facilities In said generating plant building or on the premises adjacent i thereto owned by the City and not , to be sold hereunder. Cora period ■ of not to exceeed three <»> years i from the date of Cloaing. Company ; covenants and agrees that, at any time prior to the close of said three ' (3) year period when the Company ■ shall completely and finally cease to ■ operate the said steam generating I plant and to use the other facilities in said generating plant building and on the premises adjacent thereto, the Company, at its own cost and . expense, shall promptly dismantle : and remove from the steam gener- . atlng plant building and the prei mi.see adjacent thereto those facil- . ities and other property constituting a part of the Electric Property; I but in any event such dismantlement and removal shall be fully . completed by the close of said three (3) year period. City covenants and agrees that the Company shall have the right and privilege to occupy and use, without any charge therefor, the present line department headquarters of the City for a period not to exceed one (1) year from the date of Closing. Section 7. Company hereby covenants and agrees that, in the event of the consummation of the purchase and sale herein provided for. Company shall keep and perform all those obligations under the easements, rights of way and all other kind of operating rights transferred to Company by City pursuant to the provisions of this Agreement In respect of which City might be liable on account of nonperform- : ance; and it will keep City free and harmless from and against any and all liabilities and claims of : liability on account of any such nonperformance, after date of Closing, of obligations under said easel ments, rights of way and all other ■ kind of operating rights. Section 8. It is understood and agreed that from and after the date ' hereof to the date of Closing, the risk of loss of the Electric Property or any part thereof shall be on the City, the Company shall receive the Electric Property in substantially the same condition as It was on the date hereof, reasonable wear and • tear excepted, City shall not permit 1 any sale or other disposition of the Electric Property or any part there 1 of, and. upon the breakdow n or fail- > ure of anv portion of the Electric Property, the City shall forthwith make adequate and proper repairs at its own cost and expense. It is further understood and agreed that the Cltv shall pay and discharge all the liabilities incurred prior to the Closing applicable to the operation of the Electric Property, including wages of employees and indebtedness for materials and supplies furnished. Section ». City shall be entitled to all moneys becoming due for electric service rendered prior to the date of Closing by it to customers served by the Electric Property. Section 10. Company covenants and agrees that on or prior to the Closing. it shall file with the Tariff Division of the Engineering Department of the Public Service Commission of Indiana and shall seek approval of such Commission, as the rates applicable to the electric service in the area served by the Electric Property, the same respective schedule of rates, rules and regulations that the Company now has in effect for similarly classified service throughout its Indiana territory as shown by the Index of Tariffs, effective November 1, 1958 (13th Revised Sheet No. 2). Section 11. Company covenants and agrees that promptly after Closing rhe Campatty wmmen«, and shall continue until’ completed, all work required to make such repairs, rearrangements, replacements and improvements to the Electric Prop-

WE WILL CLOSE ALL DAY FRIDAY, JANUARY 1, 1960 WE WILL BE OPEN SATURDAY MORNING January 2nd till Noon! '■ t -' ' '.- • ; » - Adams County Farm Bureau Elevator Adams County Farm Bureau Lumber Burk Elevator, Decatur Monroe Grain Co., Monroe Stiefel Grain Co., Decatur

sk tbSitl.'tJisaez mj/x service in accordance with the laws of the State of Indiana and the rules and regulations of the Public Service Commission of Indiana. flection IX Thia Agreement and the Closing hereunder are subject to and expressly conditioned upon (i) there having been secured, on or before July 1. 19(0. all authorisations and approvals necessary in the opinion of counsel for the Company in order that the transactions proposed by this Agreement may be lawfully carried out; (11) there having been taken on or before July 1, 1960 all steps necessary in the opinion of counsel for the Company for the lawful consummation of the transfer and sale of the Electric Property; and' (lii) all such approvals, authorisations and stops being in force and effect at the time of Closing and there being at the time of Closing no appeal, stay or other proceeding of like or unlike nature with respect to such authorizations, approvals and steps pending or threatened which, in the opinion of counsel for Company, would raise a substantial question as to the validity of such Consummation. Each of the parties hereto covenants and agrees that it will cooperate In securing such authorizations and approvals, and in taking such steps, as are necessary to be taken by It in order to consummate the purchase and sale of the properties and facilities herein provided for. Section MS. This Agreement shall terminate at 11:59 P.M. Central Standard Time, July 1, 1960, or at such later date as the parties hereto may agree upon, unless the Closing Is on or prior thereto. Upon the termination of this Agreement, in accordance with this Section 13. all rights and obligations of the parties hereunder shall cease and determine; provided, however, such termination shall in no way relieve or release either party hereto of any liability or obligation hereunder which shall have accrued prior to such termination. Beetles 14. Any notice or demand required or permitted to be given or made hereunder shall be given or made by mailing the same by registered mail, postage prepaid, in a sealed envelope addressed, (i) if sent to City, Mayor City of Decatur City Hall Decatur, Indiana and (ii) if sent to Company, R. E. Doyle. Jr. Vice President and General Manager Q Indiana & Michigan Electric Company 2101 Spy Run Avenue Fort Wayne, Indiana Any such notice or demand shall be deemed to have been given or made at the time of its delivery to a registry division of a United States Post Office. Section 15. Each of the parties hereto shall bear all expenses incurred by it in connection with this Agreement and in connection with the consummation of the transactions contemplated and provided for hereunder. Section 16. The laws of the State of Indiana shall govern Hie validity, the interpretation of the terms, and the performance, of this Agreement. Section 17. This Agreement shall be binding upon and inure to .the benefit of the parties hereto, their respective successors or assigns, provided, however, neither party hereto shall assign this Agreement without first having obtained the written consent of the other party thereto. IN WITNESS WHEREOF. City, party of the first part hereto, and Company, party of the second part hereto, have, respectively, caused this Agreement to be duly executed in their respective corporate names, all as of the day, "month and year first above written. CITY OF DECATUR By Hebert D. -Cole, Mayor ATTEST ’ Miriam Hall. Clerk-Treasurer < P int?i ana Nncmn an * ei.ec- ■ TRIC COMPANY By R. E. Doyle, Jr., Vice President and General Manager

Assistant Secretary (Party ot the, Second Part) ’ WHEREAS, the voters signing the said petition presented to the Common Council on May 19, *959 requested the Common council, in connection with any sale ot the Electric System, to set out so far as is permitted by law how. the Eroceedo of any such sale are to e kept and employed; and WHEREAS, prior to the enactment of Chapter 53 of the Acts of 1959 by the Indiana General Assembly, all funds which would have been realized from the sale of the Electric System would be required to be credited to the City's general fund to be used as any other general fund of the City, can be used for the payment of bonded indebtedness of the City, or the acquisition, expansion or improvement of any municipal property whether the same be deemed a proprietary or governmental function, Including the acquisition, expansion or Improvement of the City's waterworks or sewage disposal plant: and WHEREAS, It Is mandatory upon the City to use the funds derived from the sale of the Electric System first to the redemption of all revenue bonds and securities appertaining to the City’s Electric System, but it appears that all sums thereafter remaining should be held and properly invested by the City, and the interest realized therefrom to be used for needed City improvements, with portions of the principal to be used from time to time for both governmental and proprietary purposes of the City after study and upon recommendations of a Citizens Advisory Committee to be appointed by the Mayor: NOW, THEREFORE, BE IT RESOLVED by the Common Council of the City of Decatur, Indiana, that: 1. The City does now enter into and make the agreement in the form hereinbefore set forth (hereinafter referred to as "Agreement"), and the Mayor of the City is authorized to execute the Agreement in the name of and for and on behalf of the City, attested by the ClerkTreasurer with the seal of the City, and when the same is executed by said officials of the City as aforesaid on behalf of the (Tty. and by the proper officers of the Company, the Agreement shall be in full force and effect upon the terms and conditions therein contained. 2. Pursuant to and in accordance with the statutes of the State of Indiana in such ease made and provided, the City, through its Mayor, shall proceed to have or cause to have the property and facilities proraised to be sold under and described n the Agreement (hereinafter referred to as "Electric Property"), appraised by three disinterested freeholders of Adams County, Indiana, to be appointed by the Judge of the Circuit Court of Adams County, none of whom shall be residents or taxpayers of Decatur. 3. Subject to the compliance with all the terms and conditions specified in the Agreement, the Electric Property shall be sold and transferred to the Company at the price, in the manner and upon the terms and conditions set forth in the Agreement. 4. The necessary deeds and other instruments transferring ‘uml disposing of the Electric Property to the Company shall be executed for and in the name of the City by its Mayor, attested by the Clerk-Trea-surer with the seal of the City. 5. The Mayor, for and on behalf of the City, shall execute any and all other Instruments, and do or i cause to be done any and all acts or things (Including but without limiting the generality of the foregoing to the publication and posting of public notice of this resolution as required by law), which in the opinion ofv-the Mayor Is necessary or desirable In order to comply with all the obligations of the City under the Agreement and to effectuate the consummation of the sale as in the Agreement provided. 6. All resolutions heretofore adopted by the Common .Council in fllrr’with,’or contrary to. the provisions of,’ this resolution are hereby repealed and rescinded. 7. This resolution is passed by at least a two-thirds vote of all th<

TUESDAY, DECEMBER 29, 195®

9t to* ' Common 3. This resolution shall take effect and be in force from and after Its i passage and its signature by the presiding officer of the Common . Council and its approval by the , Mayor. i Adopted and passed unanimously ■ by all members of the Common i Council present this 21st day ot , December, 1959. Robert D. Cole, Mayor _ ; Presiding Officer ot i the Common Council ATTEST Miriam Hall Clerk-Treasurer , Presented by me to the Mayor of I the City of Decatur this 31st day I ot December, 1959. Miriam Hall i Clerk-Treasufez Approved and signed this 21st day of December, A.D., 1959. Robert D. Cole. Mayor Dated at Decatur, Indiana, this • 38th day of December. 1959. ROBERT D. COLE Mayor of the City of Decatur, Indiana , ROBERT D. COLE. I Presiding Officer of the Common Council of the City ot Decatur, 1 Indiana ATTEST: MIRIAM HALL i Clerk-Treasurer I Dec. 29, Jan. 5

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