The Telegraph-courier. [volume] (Kenosha, Wis.) 1888-1946, 1909-04-29
Members Of Board Of Water Com.
missioners Discuss Proposi.
ton TO Refund the Bonds
MAY OFFER AID TO COUNCIL
Commission Plans on the Immediate
Laying of an Intake and Must
Secure Funds in Some Man
ner for This Purpose

met in special session at the City Hall
on Friday evening to discuss the ques-
ton Of refunding the present water
bonds and as result of the meeting
1t is expected that the Board will
send communication to the Council
at an carry meeting making some sug-
gestions in regard to the matter One
OF the interesting outcomes of the
meeting was an announcement on the
part Of the Commission that it planned
the building of new intake at once
and that for this reason the Board felt
that it would be necessary to conserve
all Of its resources for this purpose
The members of the Commission were
agreed on the proposition of refunding
the bonds providing that the plan pro-
posed at the last meeting of the Coun-
Gil of simply changing the rate Of in
terest on the present bonds could be
carried out.~
Present at the meeting were City
Attorney John G. Slater, w. Fl. Pur-
nell, cashier of the First National
Bank, and members of the former
finance committee of the City Council
1t was shown that at the present time
the Board had on hand some $4,000
and Of this amount nearly $4,000 has
already been expended for the pur
chase of the new pumps. The money
remaining in the hands of the Com
mission is in the form Of a certificate
of deposit which draws interest and it
is formally set aside by the Commits
sion as fund for improvement. 1t
is estimated that the Board will need
at least $4,000 for the building Of
the new intake and it is thought that
if this fund is left intact the money
will have been provided for this pur-
pose by the latter part Of next year
or the May of the following year.
The members Of the Board expressed
themselves as being in favor of any
business proposition that could be pro
poeed to save the city money in the
payment OF the old debt of the com
pany. The discussion revealed the fact
that the men who had placed the pres
ent water bonds did not look with favor
on the proposition to change the rate
Of interest. It was found to be just
possible that the city could get hold Of
these bonds, but the only way that the
city could locate them would be to call
them for cancellation and it was held
that it would be impossible that they
be sold to another party at a lower
rate Of interest after being called for
cancellation. It would not be possible
to issue any more water company bonds
as the corporate existence of the Ke-
|nosha Water Company was long since
lost and ii bonds are issued they must
be issued as city bonds. It will be
possible to issue them as liability
against the water plant, but they
must be city and not water company
bonds 1t was suggested to the Com
mission that at this time it take a
portion of the funds set aside and use
them for the retirement of the out
standing bonds and the commissioners
were agreeable to such plan if the
Common Council would agree to issue
city bonds for the building of the
proposed intake. The present intake
has been found to be all too small to
Ii take care of the demands of the city
and while it is not planned to extend
the new intake into new water it is
deemed absolutely necessary to secure
larger intake.
This matter has been taken up with
contractors and the members of the
Board announced last night that they
had a plan for the building of the in
take which would provide for a con-
tract with deferred payments and that
with this contract it would not be
necessary for the city to issue bonds
to pay for the laying of the big pipe.
The matter was discussed from every
possible angle and the members of the
Commi ssion showed willingness to
take any reasonable view of the sit
''uation. In the communication that the
Commission win send to the Council
the matter will be taken up in a
thorough manner and it is probable
that after the organization of the
Council the proper committee Of the
Council will meet with the Commission
and find an easy solution of the much
vexed question.
Col. and Mrs. W. w. Strong, Mr.. and
Mrs. G. E. Remer and Mr.. and Mrs.
William F. Fisher went to Milwaukee