Alpena weekly argus. [volume] (Alpena, Mich.) 1871-1893, 1881-04-13

Bills allowed as recommended and war
rants ordered drawn for the payment Of
the same, on motion of Alderman Golling.
The special committee heretofore APP
pointed 10 negotiate with water company.
with a view Of purchasing the water works,
reported in substance as follows: That the
water works are not completed; that the
works have not yet been accepted by the
company from the subcontracter that GER
tats defect in inlet pipe cannot be remeded
until frost is out Of the ground that as
soon as works are completed the company
will notify the city and render full and
complete statement Of the cost thereof and
open negotiations with the city for the sale
and purchase Of the works.
Report accepted, ordered placed on hle
and committee discharged, OH motion or
Alderman Golling.
vALEDIcToRY.
The retiring Mayor, Geo. A. Butterfeld,
read on address, which was, on motion of
Alderman Goling ordered published in the
official paper Of the city.
Gentlemen # The Common Council:
believe every retiring executive officer Of a NUM-
opal govern nent ought 10 be better qualified to i'm
port information to his successors than one who has
perhaps never assumed such responsibility. !
therefore consider II the duty OF every retiring
utlve officer 10 communicate TO their for
their consideration such information IN his judg-
will be for the best interest Of the people and
their government. And AS l am about 70 retire from
the duties and responsibilities OF the office Of Mayor
Of this city, for the second time, with greater /
knowledge and belief in the importance Of such du-
ties aud responsibilities which rest upon executive
and legislative bodies than before and having
interest in the welfare and prosperity of this city
and its people have thought best 10 Ike mention
Of some matters which have come TO my notice dur
ing the past year.
The coming official year is likely to be one Of more
than ordinary importance to our people; pro-
lecs have been and are now in progress 70 add TO the
heathfUness and beauty OF the city, and the COM
OF its citizens. therefore consider II my duty
II can IN any way, to and successors in carrying
these projects forward 70 properly and economical
completion viii only refer 70 few Of the most inn
portant subjects Of which will demand their at
tsntion during the coming year.
! he question Of purchasing the water works, which
soon 10 DO brought before the people 10 decide at
special election, called for that purpose one OF vast
Importance 10 our tax payers # the following est
mates and figures are anywhere near correct 1 do
not give them rs being correct in every particular
bat they are substantially
The city now being under contract, unless the city
buy the works, 10 ply the Alpena Water Works Com
pany, the completion Of the works, $1,000 per an
mum for water for fire md other public purposes for
peHod Of about thirty years, which will amount 10
at 5000 per year. At the end Of thirty years .l0j
and IN all human probabilities the growth Of the city
will necsssate the laying OF more pipe and the cree
ton Of MIGRANTS, 20 the extent that after an
olapse Of five years IL will the city 81 900 more
per aunum, which will amount to for the remaining
twenty-five years s26 00O thus swelling the amount
IL will have cost the city for fire and other public pur
poses AZ the end Of thirty years to the enormous sum
OF s2.0OOO ana then tho city will not own tho works
Probably tgO1t tgant TO-
The works can now be bought by the city issuing
bonds for that purpose at cost probably not exceed
ing 100000. Assuming that the city issue bonds 10
that amount, bearing per cent interest and divided
into four series OF els 600 each each series become
due at consecutive periods of 10, 10 and 20 years
and at the end of 20 years the city will own the
works at cost Of Sli500, allowing nothing for rev.
enue which can be derived from citizens for water for
domestic purposes and also the interest the sink
ing fund, which will have TO be provided each year $
for the payment of the bonds
am Informed by the Secretary and Treasurer Of
the Company that there are now about $40 applica
lions for water; there Is no doubt that within one
year the number of applicants will not be less than
500, which will probably amount 20 not less than Z
$1,000 per annum. The expense of running the
works ought not TO exceed 500 per annum leaving
.wenty years is 10000 deduct that amount from
.1i2 500 and IL leaves tl02 500 AZ the cost Of the
works. To be more explicit should the city create
bonds bearing per cent. interest 10 the amount Of
700 900, payable above stated 10 and 20 years.
5he interest on the would be 1920 per annum,
which amount would hobs 20 be raised by direct tax
ltion saoh year for Ave years; also, 5000 per an
lum as sinking fund TO provide for tho payment Of
he first series o. bonds falling due at the end of i've
lears, thus making the amount 5000; deduct from
his amount $500 received for water, and we have | -.
800 the amount 70 be raised each ysr for FIVE
lears t33500 in FIVE years, with the bonded in
lebtedness $4,000. The interest on $4,000 year
g. $50, and the amount required for sinking fund
5000 total, so15O less $500 received for water,
eaving amount 20 be raised each year for Ave years
$3.50, or s2s,250 for five years with outstanding Y
'onds reduced TO $4,000; interest on $4,000 one
sss 500 received for water. leaving amount 20 be
ased by tax each yesi $4,000 s2 900 in five years
nth outstanding bonds reduced 10 $4,000 interest
n $4,000 one year t,050 sinking fund $1,000 maxi
ng 5000 less $500 receipts for water leaving the n
$50 or si77so Tor tie iss. nvs y years. ending in