Rocky Ford enterprise., 1899-03-30
IMPORTANT TO
TAX PAYERS.
lore Information Regarding Pro
posed Bond Issue.

The following statements arc furnished
by members Of the Board OF Trustees
showing the necessity for the proposed
issuc sl7. 900 Bonds, Of which $1,000 are
for refundinR ut lower rate Of interest
bonds maturing October next, aud slO.-
600 for concreting reservoir for storing
water for fire purposes, and for making
extensions Of water mains, in accordance
with report OF Engineer Allen.
II the bonds arc voted the upper res
ervoir can be concreted at once. thus
giving some assurance OF protection
from fire. On the other hand, il the
bonds do not carry the cash now in the
water fund will have to bo expended in
replacing the Garden Place pipe line on
Pine Av., the black pipe being badly
eaten; and any work on reservoir would
have to wait for another year. Every
business man knows this means little or
no fire protection.
The plan of extension MS recommended
by Engineer Allen would make COM
plete system, aud one which would be
suited to the future needs Of the town as
it increases in size. The side lines OF
black wrought pipe would be displaced,
and inch cast mains substituted.
This would to an extent clear the water
and rid it OF the rust now 80 troublesome;
ijs experience since nitesian water was
turned in the pipes being that cast pipe
is but little affected by the nrtesian wa
ter. With the plan OF inch mains on
an avenue on either side OF town, and 2
inch galvanized pipes on the streets
north and south from the cast main on
the avenues the greater portion OF the
residence part OF town would be brought
within reach Of the water service. This
nue from water rentals. The income
from pipe line last year was s703. With
better pressure from larger supply pipes
and extension of mains the receipts
should be at least doubled. On the
other hand il extensions and improve
ments to water system are not made the
earnings will fall below last year, as the
small side lines are so badly corroded
that the service is poor and will have to
be abandoned, as there are no funds for
replacing them, and they can not be re-
paired.
How the issue OF these bonds will at
feet the pOCket8 Ol tuo tdA payer 10 u
question OF vital interest: there is now
being paid per cent on $1,000 being
$3.50, 6 per cent on $4,000 being $50,
making total Of 3670.
Proposed bonds can be sold at peg
cent rate, so the interest would be 5 pei
cent on $4,000, $3.50, 8 per cent on 1900,
$3.50, making total Of 5000. an increase
OF $500.
But il in proposed to make the interest
ON new issue OF Bonds payable ont of the
Town Treasury from water rentals, and
not from q direct tax on the entire as
sessed property Of tue town.
It is the opinion OF Engineer Allen
that the revenues from the water works,
improved along the lines by him recon-
mended, will he enough to maintain
them and to pay interest on the bonded
debt; in other words the proposed better
ments Of our water works would make
them eel. sustaining, and the users OF
water wouM pay for il directly, instead
Of making all property pay a s mill tax,
as is now the case, to meet the interest
ON bonds. With the water plant in the
shape il is now the revenues will not in
crease but will decrease Tor reasons be-
fore given. II bonds are voted and
funds thus provided to improve and
col.,plete the system the revenues will
ipcre, ,ase, and the constant repairing and