STEWART, Judge.
The Monticello Electric Light Company sold its facilities for the distribution of electricity to the City of Monticello on January 20, 1954, and the city has henceforth managed the system through an agency known as the Electric Light Plant Board. We shall hereinafter refer to these parties as "the company", "the city" and "the board". As a part of the closing agreement, the city contracted with the company that it would collect its unpaid bills for...
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