To Capitalists

City of Ann Abbob, Mioh., ) NOVEMBEB 2, 187-1. $ SealeJ proposals will be received in pursuanee of the iollowing resolutious of the Common Council of the city of Aun Arhor, adopted October 26, 1874 : Resolved, First. ïhat is expedient to have constructed in said city of Aun Arbor, worka for the purpose ot supplying said city and the inhabitants thereof with water, but that it is iuexpedient for said city, under the power granted in its charter, to build such works. Second. That, as an inducement to the formation of a Company for the purpose of constructing and operatiug such works, tuis Coun cil will, as soon as practicable after the pa3sago hereof, advertise for and receive sealed proposals, each to bo signed by at least five responsible bidders, for f uruishing said city with water for public or municipal purposes, for the period or term of ten years, with the privilege to said city of an additional term of fif teen years, at a rate, or for a consideration, not exceeding five thousand dollars per annum, in the manner and on the terms and conditions more particularly specified in the next succeeding resolution. Third. That this Council, in behalf of said city of Ann Arbor, undertakes and obligates itself to contract for the supply of water af oresaid, in the marnier above and hereinafter specified and provided, with the lowest bidders tor furnishing such supply, by sealed proposals aforesaid, when and as soon as such bidders shall have completed their organizatiou as a Company for the purpose of supplying said city and the inhabitants thereof with water, agreeably to the provisions of an act of the Legislatura of the State of Michigan, entitled " An act to authorize the formation of companies for the introductiou of water into towns, cities and villages in the State of Michigan," approyed April 3, 1869 : Provided that such company shall, on its part, obligate itself to build and complete in said city of Ann Arbor, within one year from the date of such contract, works of sufticient capacity to reasonably and properly supply said city and the inhabitants thereof with water, and within the same period, to properly and permanently lay down in said city at least fifty thousand feet of main or aupply pipe of sufficient strength and size to adequately and at all times fumish water for lire duty and protection in said city ; and to fumish, connect and permanently set in suitable and sufficient trasteases, for the use of said city, sixty good and sufficieut Ludlow fire hydrants, with two two-anda-half-inch nozzles each, and bix flrst-class " Center Street" hydrants, to be located by the aufchorities of said city reasonably near to main or supply pipe that shall have been laid by such company; and thereafter, at all times during the term or terms aforesaid, for the consideration, not exceeding flve thousand dollars per annum, proposed and accepted in manner aforesaid, to fully and properly supply such hydrants with water for the use of said city, under a sufficient head, pressure or power, by machinery or otherwise, for efficiënt, continued and adequate fire duty and protection in any and every part of said city, without the aid or use of a fire engine ; and further, at all times during the term or terms aforesaid, to maintain the aforesaid hydrants, and, upon the reasonable notification of the authonties of said city, to preserve the same in good repair ; and further, from time to time, and at all times during the term or terms aforesaid, to permit said city without additional charge therefor, to make and maintain connection of all such other or additional fire hydrants as it may elect to provide at its own cost, with the main or supply pipe of such company ; and at all times during the term or terms aforesaid to fully and properly supply, without additional charge to said city, all such other or additional hydrants, with water for fire duty or protection, in manner aforesaid ; and turther, of the main or supply pipe to be laid within one year from the date of such contract, in manner aforesaid, to lay at least two thousand and five hundred feet south of Liberty street, between Main and State streets, in the First Ward of said city, two thousand and five hundred feet on Liberty and Huron streets, west of First street, in the Second Ward of said city, three thousand feet, on Miller Avenue and Spnng street, in the Third Ward of said city two thousand and five hundred feet north of Ann street and east of Detroit street, in the Fourth Ward of said city, one thousand feet in the Fif th Ward of said city, and two thousand and five hundred feet east of State street, in the Sixth Ward of said city ; and further, from time to time during the term or terms aforesaid, and the continuance of such company, according to the growth and increase of said city, and such company receiving reasonable guarantee of a return of not less than ten per cent. per annum on all necessary increase of expenditure or investment, to enlarge the capacity of such works and the extent of such main or supply pipe, so that said city and the inhabitants thereof may at all times be properly and fully supplied with water for all municipal and domestic purposes. Fourth. That, as a f urther inducement or encouragement to the formation of such company, this Council further undertakes and obligates itself in behalf of said city of Ann Arbor, to grant by Ordinance, to such company, when duly organized in manner aforesaid, all such right to the use of the streets, alleys and public grounds of said city, as shall be necessary to enable such company to properly construct, enlarge, exteud and opérate the aforesaid works, subject only to such just and reasonable terms, restrictions and limitations, as are contemplated by the provisions of the aforesaid act ; and further, that this Council also undertakes and obligates itself, in behalf of said city, as aforesaid, to exempt such company, by üruinance aforesaid, at all times, from the imposition of any restriction in respect to rates or charges for wator contemplated by soction 15 of the aforesaid act, that would, if iinposed, prevent such company from realizing au annual net income, gain or profit, over and above operating expenses, cost of extensions and repairs and interest on money borrowed, if any, et[ual to tifteen per cent, on its capital stock represented by the actual cost of 'the construction, enlargement and extensión of such works, on condition that such company shall contract with said city in the mauner specified in the preceding resolutions, and shall, at all times, keep and perform all undertakings, covenants and conditions on its part to be kept or performed in pursuance of auch contract. All proposals must be made on or before the fifteenth day of January nejtt, and addressed to the Committee on Water Works, Ann Arbor, Mich. Thirty days will be allowed for organization of Company and completion of contract after notification of acceptance of bid. Further information, if desired, will be f urnished by tho committee on application.