10 will be necessary for the carrying out of the proposed object and I may be allowed to suggest that two modes appear open, viz: either the incorporation of a gas Company by Ordinance or a grant also by Ordinance of the privilege of selling gas subject to such conditions as the grantors and grantees might agree upon.
I enclose a copy of a local act of a similar nature for the consideration of the Executive and should the way of grant be preferred, the following are the terms which the projectors submit as fair and reasonable.
The Company to have the privilege of lighting all the lamps on roads, Streets and in Government buildings and Offices at $8 per thousand cubic feet of Gas and of supplying private Consumers at $10 per thousand cubic feet.
The privilege to be exclusive for a term of 20 years. The grant to be for making gas in any mode known or from such materials as may be deemed expedient by the Company. The grantees to undertake to have the works completed and ready for supplying gas to customers at the expiry of 18 months from the signing of the grant and in default the grant to become ipso-facto void.
It may not be impertinent to mention that the laying down of gas