Omaha daily bee., 1908-08-26
: INTEREST FROM IOWA

III IRE CITY II IOuiQ 10 ne elhi oolf =Wt. III
constitution prohibits a debt OF more than
5 per cert OF this, or SSt, 563. The present
bonded debt is $4,000, The city has on
hand to meet this. 81. 123. but II also has
outstanding improvement warrants in eN-
cess of cash In the treasury mat amount
to S5,SS. The net city DEBT is therefore
about a265.O 0O. but the donations Tor Broad
way paving and other funds IL sight would
reduce this probably TO Sh0O1l lnis would
leave the extreme limit of new debt tiny
city could contract. S5S2,563. Tue city has
on hand I'm the water works sinking fund
Sis, 10O. This would make the highest amount
the city could hope to raise from all sources
}oOO,OVO. Mr.. Nickham's bid is ~S6Sl,55J. Inc
committee calls attention TO the tact that
this does not cover cost Of reservoir, pump
irg or other sites. the cost of city inspec-
ton and supervision of construction, and
hat the bid is under specifications which
provide for aymen on monthly sstinates.
AS these payments must be maze with Dor
rowed money which will be drawing inter
est during the period or CONSTRUCTION, TINS
interest alone VIII probably exceed S4U,OOU.
Inc committee finds that taking MT.
Wickhani's bid the amount Of interest that
must be raised before the city could earn
any water rentals and the cost OF real cs-
tate and supervision, the proposed plant
will cost not less than S6S0,OD to- StOO,OOO' ana
il a plant is to be built 1t must De cut
down so as to reduce the cost from SSo'CJO
to 10000. dcpriving many OF service VINO
would be supplied with the present plant.
The committee finds that in place of being
cut down the plant should be enlarged az
1t does not provide water for hundreds OF
IdllllloS now .IeIts lllNt lAhliNANh NhA-'AN
I'm the Sixth ward alone would not be sup
piled under the proposed plan and no pro
vision whatever is made Tor the so-Calleu
hin districts. The committee says that the
proposed plan would thus be wholly made
uuate now that It must be so cut as 70 De
grossly inadequate. and then taxes up VIZ
ability of the city to take care of those
unprovided for at present, and calls atten-
ton to the fact that the statutes proNlue
that the rates must be sufficient 10 pay tte
do SO would require a revenue OF Sllo'OOO q
year. or $685. CO more than the revenue OF
the present company anu tbNorn Would he
no vaV 10 make extensions until the eN-
piration of twenty years.
conclusions of Committee.
After giving these facts and figures the
committee reaches the following conclu-
sions:
1t seems therefore clear that the city has
no lawful authority to borrow the amouhi
az money necessary to install the proposed
pIant. and has no ability TO secure money
in any considerable quantity except py DOT
rowing. and that the city can only pullu
| n nlant by considerably reducing the area
covered by its present plan. A.
That If the city succeeds in buildlng Ine
nlant in whole or in part, II VIII nave eN-
Pamsfed the limit of its ability to borrow
and no matter what disaster came to the
plant or 10 the city in any way the city
would be entirely helpless SO Iar DIS raising
money was concerned. 49,
cut 0 0ot Covered co by the plant and persons
who in the future may need service np'
furnished by the plant, would be sub
stantially without hope of securing serN-
ice FOR the period of twenty years.
We are thus plain in our statements
owing to the Importance. of the suolecl
matter. not referring to the tact tndt ~
expenses of our city payable from tnt
1olmiii levy for general purposes fines
licenses and permits amount 10 apoul
100000 or $50, 900, this levy furnlshlng
less than one-half this necessary ahlouh'
The committee finds that the city shoult
he provided with cleaner water than we
are now provided with, ana mat unIess
better means of clarifying can De pIo,
vided. II would be inclined to recommeno
a change in the source of supply. TnI
new CITY plan does not provide tor any
I Clarifying plant, and Mr.. Wlckham oiu
of course, does not cover one aIant couuIit
not be enlarged clean water coulu not W
obtained for twenty years .,p,
In conclusion. the committee says: 10y
UevinR that we are not prepared 20 pur
chase and enlarge the plant or lnstali Z
new one and in view OF the IscI ttd NE vo5
large number of our. people are uePrtac.
of city water and that we heed an,
me nresent company cannot furnish IN
same unless II is granted a Smarter; II ~,
the opinion OF your committee ~,
rights of the city can De pr"t cbarte
sbonId be granted TO the company WIN
out unnecessary delay
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