The whole thing is insane, and if I thought anything serious might actually happen, I'd raise Hell. But I'm still having fun reading all this silliness.
These C&S engines are all completely worn out and have been since they were retired over 60 years ago.
#74's rigging and suspension are completely shot, and the airpump is a dummy. $250,000 wouldn't begin to touch what needs to be done to render the engine operational for 10 seasons and everyone who knows anything at all knows it.
As Rick Steele has aptly pointed out here before, it would cost less to build new engines than it would to restore any of these worn out old relics.
As to contracts, no one here will have a damn thing to do with them, and the Boulder City Attorney could not allow any kind of contract or arrangement that could leave the City at risk for any kind of liability caused by anything from a boiler failure to a cinder in the eye of a baby or an 80 year old rider. And how could the City not be at risk?
It ain't gonna happen. And this discussion is nothing but speculative horsepoop. Legal issues will be the death knell of even the most mild and attractive scheme.
Don't anyone bust a vein over this.