§ 24-412 Agreement with Consolidated Telegraph and Electrical Subway Company; new contracts.
AC § 24-412
The agreement made by and between the commissioners of electrical subways or the commissioner of water supply, gas and electricity for the city of New York and the Consolidated Telegraph and Electrical Subway Company or its successor by merger, the Consolidated Edison Company of New York, under date of July twenty-seventh, eighteen hundred eighty-six, when and as amended and modified by a second and further contract or agreement between these parties, dated the seventh day of April, eighteen hundred eighty-seven, is hereby ratified and confirmed, subject, however to all the provisions of sections 24-410 through 24-414 of the code. But if at any time or for any reason the agreement so amended shall be or become inoperative or ineffectual for the accomplishment of its just purpose and the purposes of these sections, or if the company shall be unable, or after reasonable notice and opportunity given by such commissioner, it shall fail or decline to comply with or carry into effect the agreement in all its terms, then such commissioner may, with the approval of the mayor, make such new, further or different contracts with the same or other parties as may be reasonable or necessary to carry into effect the provisions and intent of sections 24-410 through 24-414 of the code.
