The Telegraph-courier. [volume] (Kenosha, Wis.) 1888-1946, 1895-02-21
W. \. Wneeler,s propoaition.

To the Mayor and Common Council of the
City of KenOSha:
GENTLEMEN City Water company OF
KenoSha being the assign OF |. w. Newcomer,
is DESTROYS of purchasing the wells water SyS-
TENS and franchises now owned by the LARK
CITY Water Company and The North SlQe
Water Company of K enOSha, Wisconsin ana
of consolidating the same with the system Oh
Water Works now being conSructed py IN, Ine
said City Water Company, i'll the City OF he-
nosha Wisconsin, believing that the works can
be more advantageOuSly ana economically
managed when consoIlQated WIGu NE ne Sy2o0
now in operation by the Park Guy water COM
Dany and North Side Water Company anu Ill
the event that the city exercises Its option 10
purchase the plant now in course OF c0nstruc-
zion nv rs we believe it would be largely to the
citys advantage to at the same Time become
the owner of the water systems now owned Oy
The Park City Water Company and me North
Side Water Company. so that the ent1re water
system of the City Of KenOSha would be under
one management. This arrangement Will
change the contract price OF SAID system, DDS
there will have to be added to the amount pro
Vided for in the former francnlSe. twenty
Thousand Dollars, being the amount TO De
paid for the wells, systems anG franchises OF
The Park City Water Company and The North
Side Water Company. We propose TO hnance
the system as follows:
We DrOpose to issue One Hundred Thous-
and Dollars in first mortgage five per cent.
semi-annual bonds secured on said conSoll-
dated plants and franchise by first mortgage,
running for the term provided III our ffancnlSc
and redeemable at our option IN regular. ofder,
by number, commencing with the lowest III
in sums of Ten Thousand Dollars per annuln
at any interest date
2. Second mortgage five per cent. semi
annual bonds to be secured by second mortgage
on said consolidated plants and franchises 1Or
the sum of Thirty-Seven Thousand DollafS, re,
deemable at our option at any time from anu
after the date thereof, at any interest payment
date. Twenty Thousand Dollars OF SAID second
mortgage bonds to be used as ana Tor the puf-
chase Of the said wells, water systems ana
franchises of The Park City Water Company,
and The North Side Water Company rms
amount is based on the assumption that tne
CITY Council will deem it wise to dispense with
the stand pipe called for IN the Irancnlse anu
for which a reduction of Eight Thousand Dol
lars is made. We are advised by promlnent
citizens that these bonds can DE hOated sue
cesSfully.
We therefore request your Honorable Body
to pass an ordinance accompanying this COM
municatiOn, authorizing us to make this pltf-
chase, which ordinance in terms provides that
in case the city purchases the WORKS now IN
der construction, it shall also purchase the
systems of The Park City water company anu
The North Side Water Company, at their net
cost to u.s. t0-wit: the sum of Twenty Thousand
Dollars, if done within twelve ~ nOnUnS from
and after the completion and acceptance OF the
system of works, now being constructed by us.
by the City of KenOSha.
In the event of the passage of the ordinance
herewith presented and the effectuat1On OF the
above, we hereby relinQuiSh all claims fOf ny
drant rental under The Park City ana me
North Side franchises, and under any contract
or contracts held by them or either OF them
with the City of kenOSha from and after the
acceptance by the City OF kenOSha OF the
Works now being constructed by US. InuS
the City of Kenosha will not be compelled TO
pay any hydrant rental except InaC proV1ueu
in Ordinance No. 154.
Dated February 18th, A. D. 1890
Respectfully submitted.
CITY WATER COMPANY OF KENOSHA, WIS,
BY w. H. WHEELER: President.
w. H. WHEELER & Co.,
BY w. H. WHEELER