§ 3.  

Latest version.
  • Said Elevator Company shall pay to the City of Minneapolis as rental for the use of said premises for all grain whether water-borne or carried by any other method of transportation to or from the River Terminal at a rate of five cents per ton. Payments therefor to be made monthly at the end of each calendar month during the season of navigation; provided that should such payments so to be made to the City of Minneapolis under the foregoing rates be less than $3000 in any one calendar year during the life of this ordinance, said Elevator Company agrees and does hereby guarantee to pay to the City of Minneapolis a minimum rental rate of $3000 for each calendar year, the unpaid balance of which shall be paid at the end of such calendar year. Said Elevator Company further agrees that the City Comptroller or other officers or employees of the City of Minneapolis thereunto duly authorized shall have access to the books and records of said Elevator Company for the sole purpose of verifying and reporting the amount of grain so handled at and through said terminal.