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vice provided by the Company to the Town of Washington prior to the date this franchise is awarded to the Company. SECTION 9. That said Company before proceeding to act under this ordinance shall execute a bond in the penal sum of One Thousand Dollars ($1 <000.00) with security to be approved by the Town's Attorney of the Town of Washington in favor of the Town of Washington, conditioned upon maintaining in good order the telephone plant in the franchise granted and the furnishing of efficient telephone service. SECTION 10. In the event this franchise is awarded to any person, company or corporation other than the present owner of the telephone system in the Town, such successful bidder shall, in addition to executing the bond time such bid is accepted, execute and deliver to the Town a bond in the penal sum of Fifty Thousand Dollars ($50,000.00) with security to be approved by the Town's Attorney of the Town of Washington, in favor of the Town of Washington, conditioned upon having in operation a modern dial telephone system of sufficient size to provide for the telephone requirements of the Town, with long-distance toll connections, immediately upon cessation of service by the present operator.
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