Summary

Joseph McKenna Freeport Water Company v. Freeport…

Indeed, the theory of construction which excludes the rates from the power to contract for the period specified would render the whole act meaningless. Undoubtedly, if waterworks existed and use was made of the streets of the city by the owner of the works, in the absence of contract the power to compel the furnishing of water at just and reasonable rates would exist by operation of law.
Source: Wikisource

Joseph McKenna Freeport Water Company v. Freeport…

I cannot conceive upon what principle these authorities are held to control a case where in the statute conferring authority the time was expressly fixed. Indeed, the decisions in Illinois (among them not only the cases cited below, but others which were referred to in those cases) , which are now relied upon to sustain the proposition that a power to contract for a supply of a commodity or the services of an individual does not include the authority to agree upon the compensation to be paid, actually refute the contention which it is alleged they sustain.
Source: Wikisource

Joseph McKenna Freeport Water Company v. Freeport…

That in the absence of such restriction the legislature of a state may contract by statute, or may empower a municipality to contract, for water for public use for a stated period, and fix the rates to be paid during such term for the same, and that such contract if made is protected from impairment by the Constitution of the United States,-is no longer an open question.
Source: Wikisource

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