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Form V - 6~10~47 <br />Page 3 <br />~~~~g <br /> <br />That any person, firm or corporation supplying electricity for <br />general commercial and residential use in the Village of Mayfield <br />which shall accept this ordinance shall reduce the <br />amount of the July 1947 bill of each general commercial alternating current <br />and residential customer of such person, firm or corporation in the Village <br />, of Mayfield by an amount equal to eighty-eight <br />and five--tenths percent (88.50) of the amount of the March 1947 bill of such <br />customer, or by eighty--eight and five-tenths percent. (88.5%) of such July <br />1947 bill of such customer, whichever is the greater. If the amount of <br />such reduction exceeds such July 1947 bill., then the excess shall be applied <br />to the reduction of bills of such customer for the same class of service <br />supplied to such customer prior to December 24, 1947. As used in this <br />ordinance the term 'March 1947" bill shall mean the amount billed a <br />general commercial alternating current or residential customer at the <br />schedule of rates above set forth for kilowatt-hours consumed by such <br />customer, ~.uring the monthly cyc1E billing period ending on March 25, 1947, <br />and the term "July 1947" bill of any such customer shall mean the amount <br />billed a general commercial alternating current or residential customer at <br />the schedule of rates above set forth for kilowatt-hours consumed by such <br />customer during the monthly cycle billing period ending on July 24, 1947. <br />If the monthly billing periods for general commercial alternating current <br />or residential customers of any such person, firm or corporation do not <br />coincide with the period hereinbefore defined, than the monthly billing <br />periods of such parson, firm or corporation which most nearly coincide <br />with.the ones hereinbefore defined shall be substituted for the ones <br />hereinbefore defined. <br />Section 2. That such person, firm or corporation shall furnish and <br />keep in repair meters for the measurement of electricity so consumed without <br />making any separate charge for the use or repair of them. <br />Section 3. It is not intended by this ordinance that the Village <br />shall hereby exercise any powers it may have to regulate rates at which general <br />commercial or residential electric service shall ba provided to the Village <br />and its inhabitants, but only to offer to contract with any person, firm or <br />corporation which may accept this ordinance as herein provided. <br />Section 4, That the acceptance of this ordinance by any person, <br />firm or corporation supplying electricity to the Village of Mayfield <br />and to its inhabitants by filing a written acceptance <br />with the Clerk of this Village within tan days after this ordinance shall <br />take effect, shall constitute a valid and binding contract. <br />Section 5. That this ordinance shall be in force and effect for a <br />period of four years from its effective date, provided, however, that at any <br />time after the expiration of the first eighteen months of the effective period <br />of this ordinance the Village at its option may elect to terminate any contract <br />resulting from the acceptance of the provisions of this ordinance by any person, <br />firm or corporation prior to its expiration as above provided, by resolution of <br />its Council. duly passed, a certified copy of which shall be served upon such , <br />