Vernon Electric acquires Vernon public service property
On December 1, 1922 Vernon Electric & Ice Company legally bought Texas Public Service Company assets in Vernon and acquired the city granted franchise for fifty years. The purchase, recorded in the county clerk’s office, enables business in Vernon under Texas law and city franchise terms. The city could condemn the property and regulate rates, with a ten percent allowable return. The company plans substantial modernization and expansion costing near 1000000 dollars for engines, dynamos, lines, and ice plant upgrades to serve new districts and improve service to citizens. The firm asserts capacity and willingness to provide adequate electric service in Vernon under regulatory oversight.
Three Proposals Submitted City Commission January 27 1923
Our company, on January 7, submitted three independent propositions to Vernon officials. We offer to let the city fix rates for electric current used in pumping city water, lighting city streets, and lighting highways to East View Cemetery and Pease River Bridge. We bear all expenses of building and maintaining both lighting systems.
MENTIONED IN THIS ARTICLE
Vernon
Board of Commissioners
East View Cemetery
Pease River Bridge
Fairbanks-Morse Machinery Company
Cemetery
City Charter Power and Annual Audits for Vernon Utilities
The text outlines Vernon city charter powers to acquire by lease purchase or condemnation any public utility for operating and distributing service within or beyond the city. It requires the city to publish annual audited reports, with continuous audits by a qualified accountant, including a balance sheet and department-by-department summaries, and publication in a Vernon newspaper within ten days after audit completion.
MENTIONED IN THIS ARTICLE
Vernon
Also Mentioned on This Page
The
Vernon Electric & Ice
Texas
Public Service Company
State of
Purchase
Vrnon
State of Texas
City of
Ing
Texas and
Fannin Streets
Service
Vernona
Vernon Electric & Lhe Company
von Vernon Electric & Ice Company Service
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