The weekly Iberian. (New Iberia, La.) 1894-1946, 1900-09-01


well as part Of its general reve-
nues toward paying for water works
aud electric lights and enter into d
contract along these lines.
Proposals were accordingly call
ed for. Four prospective bidders
came to New Iberia to look into
the matter. resulting in two with :.
drawing without submitting bids.
Messrs. NJ. 7. Lewman & Co. and
Mr.. j. Hoimboe filed bids, the lat
ter bidding $9l $50 to be paid in
first mortgage bonds bearing 5R
interest, while Messrs. Lewman
bid $50, 800, the waterworks portion
of 500, 900 to be paid for in the GER
tificates of Indebtedness offered by
the city, the balance to be secured
by a tax, the entire obligation to
carry 5H interest per annum.
While neither Of the bids were in
strict accord with the call for pro
posals, the Council determined to
receive the Lewman proposition
and after lengthy consideration,
accepted it, subject to certain legal
details being complied with.
As modified. the Lewman pro-
position is to build and turn over
to the city of New Iberia com
plete water works and electrical
plant, free from all incumbrance,
for the price of $50, 800, they
agreeing further to assume and
pay off all obligations incurred by
the city for the purchase of the
electrical plant now in operation !;
also the 21aR commission of
the consulting engineer, amount
ing altogether to-S9, 775, making a
grand total Of $685. This
amount it is proposed to divide
into two classes Of securities
500, 800 to be represented by GER
tifcates of Indebtedness bearing
5N interest per annum, payable
principal and interest in sixteen an
nual payments, the first of $4,000,
aud fifteen of $4,000 each, payable
out of the general revenues Of the
city.
The remaining $40, 900 is to be
represented by a straight bond issue
to be supported by special 3-mill
tax for period of seventeen years
and also bearing 5R annual in
terest.
The option will be with the city
to pay off the entire debt or any
portion thereof at any time before
expiration, should its revenues so
justify, interest to run only up to
the time of cancellation.
Such is the financial arrangement
under which New Iberia can secure
d first-class up-to-date system of
water.works and electric lights.
At a minimum increase of thirty
cents per hundred of its assessed
valuation, the city secures a valu-
able property that will not only be
an object of pride, but that will
afford to its entire population con-
veniences that are indispensable
from the standpoint of health and
comfort, and security and protection
to life and property. 1t will effect
an important saving in the reduc-
ton of insurance rates and ultim-
ately prove source of revenue be-
yond the value to the city of its own
consumption Of water and light. !,
As to the cost Of the works, we
are confident that the city could not
hope to get adequate service for a
smaller investment. Not only did
the Council have before it two bona
fde bids, but in securing the services
of Capt. T. w. Nicol, consulting
engineer in charge, it was with
special reference to have him pro-
tect the city against any imposition
in this respect. A gentleman of
long experience in this line of work,
he is competent not only to estimate
accurately as to its value; but
should the necessity arise, also to
take up the work and push it to
completion:
On the other hand, the city is
dealing with contractors whose re-
putation for reliability, fair and up
right dealing, honesty and in
tegrity stands nnquestioned. Their
does not rest upon the
claim Of being lowest bidders, for
they rarely secure contracts upon
this basis, their success being due
to the confidence they inspire in
their ability to do frst-class work
and stand by their contracts under
all circumstances.
A brief synopsis Of the character
Of the waterworks and electric light
plant will give the public an idea
Of the scope Of the works.
THE WATERwoRKS
ire to be of the type known as the
Holly system, which does away with
Lhe cumbersome stand-pipe, the
pressure in the mains being sup
piled directly from the pumps, of
which thpra will ha twn cnmnnund I