Town of Oxford v. Oxford Water Co.

The town of Oxford seeks declaratory relief pursuant to G. L. c. 231A, concerning its right under St. 1904, c. 193, § 9, “to take by purchase ... the franchise, property, rights and privileges” of the Oxford Water Company (company) “on payment of the actual cost thereof.” The statute further provides that “unless the dividends earned and declared by said company on its stock shall be equal to or in excess of five per cent per annum there shall be added to the first cost such a sum as will make the net return to the stockholders five per cent per annum on the investment.” The town alleges that…