The Princeton union., 1899-03-23

A Few Facts Concerning the Electric
Lights and Water Works to
! Be Voted On Tuesday.
a Splendid Opportunity IS Offered to
,e ss+ss Secure Plant Better Than
Granting A Franchise.
It is to be presumed that every voter
of the village is aware of the fact that
a special election is to be held on the
28th inst. to determine whether or not
Princeton shall have a system of elec-5
trio lights and water-works. The Of
fetal notice of election as published 10
the UNION is misleading. If the prop.
osition carries and the village council
determines to go ahead and put in an
electric light and water plant, an
amount equal to I per cent. of the real
estate valuation of the village, Tin.
round numbers $l0,O00) can be bor-s
rowed from the State at per cent,
which would make an annual interest
of $400; the other six thousand dollars
can be borrowed for six per cent. or
perhaps less. In any event the total
interest per annum on the sixteen
thousand dollars worth of bonds will
not exceed $3.50 per year. The pub:
Usher OF the UNION will personally
guarantee that the money can be had
on the above terms. Surely AZ per
cent. per annum is a low rate of inter-
est, and AZ is the average rate per an
mum on $4,000. The $4,000 that may
be borrowed from the State can BE-
paid at any time, viz: The principal
can be paid at the rate of $500 per
year, 81 900 every two years, SIS, 900 in
ten years, Sc, 900 in twenty years, or
.he entire amount can be made pay
able at the end of twenty years. There
will be no trouble about getting the
money on the bonds.
Competent parties inform US that a
first class system of electric lights and
waterworks can be put in for $4,000.
The lights should be scattered all over
the village; the water mains should be
laid on Main street and u part of First
street, and then wherever there is a
demand for water-where it will pay
to lay mains. But these are details
that can be arranged by the council
.3|SWith waterWorks, at the expense Of !;
/ few hundred dollars, q sewer pipe car
| be laid from the school house to the
river. This is an absolute necessity
The plant should be- self-sustainine
from the start, and it should not :be
necessary to levy dollar of direc
< taxes Tor its support, or to pay dollal
" of interest Or principal -=it5might b,
necessary the first year to use fev
hundred dollars of the revenue derive,
from liquor licenses. It is hardly nee
; essary to set forth the advantages t.
be derived from y good system of cleo
trio lights and waterworks. TIL
waterworks are of secondary impor
tance; the necessity for we'll lighte
: streets is apparent toaevery resident {
the village. .~:
Scores of villages throughout tn
of less wealth and less population tha
Princeton are supplied with thes
modern couveniences, yes, necessities
1t remains for the voters to say b
their ballots on the 28th inst. -whethe
Princeton shall continue in Cimmeria
| darkness.
/ The present proposition is altogethe
| different from the one voted on thre
| years ago. Then it was proposed t
| saddle debt of $4,000 upon the vi
| lage, with an annual interest of 81 1,2O(
| and system of waterworks and light
| that could not be made self-sustainin
| for years. Under the present propos
| tion only $1,000 in bonds will be issue
| with an annual interest of $3.50, and
| plant that will be self-sustaining fro,
| the start. With proper managemer
| the entire principal should be wipe
! out inside of ten years, and it shou]
/ not be necessary to raise q dollar b
| direct taxation. ThgDrevenue derive
| from private consumers Of lights an
| water should meet the expense
| lighting the streets and furnishing II
protection, pay running expenses, me,
! the interest and with a little be-
! from the liquor licenses) take care {
! the principal =: r + =.s +.
/ | <tt..y<s .%.:. ANOTHER AMAZON.