Evening times-Republican. [volume] (Marshalltown, Iowa) 1890-1923, 1910-03-29

/ An increased tax levy of 21a mills has
/ been made for three years, yielding a
! total revenue to the city of $4,000.
! There can be legitimately charged 10
! this the sum of $685. which represents
/ the cost of the thirty seven additional
street lights which the city must have.
/ The S4,995, deducted from the total in
creased tax levy of $4,000, leaves S.
| sos as the net expense to the citizens
! by taxation for the requirement of this
entire property.
| If the people should not want TO issue
! bonds at the end OF the second year,
another plan could be adopted by leav-
ing Jones & Hovey the holding COM
pany for the city, and continuing the
taxation for street lighting at 21a mills
for seven years. Al the end of these
seven years the city would have ac-
CURED the entire property with an in
debtedness of S23,647 still remaining. In
this time we have raised by taxation
the sum of $4,000. From this should
! be deducted the same legitimate charge
| for the additional lights, $3.50 per
| year for seven years, or total of SILL
o55, leaving the net expense to the tax
payers for the seven years the sum of
$19,945. Thus, at the end of seven years,
we would have paid s43,592 for Jones
& Hovey's equity. The balance would
have been paid from the earnings of
the property. Taking Jones &
Hoveys own figures as to the value of
their equity at $175 900, we would have
acquired in these seven years this
/ equity for s43.592. If we don't buy the
property Jones & Hovey still have their
equity and the city would have lost
s131, 405 that the property would have
earned in this time.
IF the council does not care to make
this additional 21s mill levy for street
lighting purposes, and wishes to let it
remain at the present 2 13 mills,
would recommend that contract be
/ entered into between the utilities COM
pany and the water works department.
for the installing of motors to operate
! the pumps instead of by steam as at
present and that the utilities company
furnish the power of the water works
department at what it practically costs
the water works department to gen
crate its own power. This 4 estimate
at $4,000 per year. Thus it will be
seen that by entering into this contract,
with 21a mill levy for street lighting.
we would have the sum of $4,000 per
year 10 Apply on the purchase Oh the
property, and with no direct taxation
on the people.
L recommend that the Darling rates
be put into effect on electricity at once,
and that 81 gas be demanded Jan. 1,
1911 as both ordinances now before the
council contemplate.
Think Price Too High.
Herman, who moved to receive the
mayors report and place it on file, said
! that he considered the price asked by
Jones & Hovey too high. There were
more Improvements to be made than
have got to come out Of the net earn
I ings, such as gas mains and additional
wiring that Jones & Hovey had not
done. Clark also thought the price too
high.
Good moved to amend Herman's mo-
/ tor to place the report on file by re-
! ferring the report to the council of the
whole, including the mayor. The
amendment carried, with Herman and
Hull dissenting, and by another motion
the mayor was directed to arrange a
meeting between the council and Jones
& Hovey to discuss the situation.
Hull Ordinances Go Over.
The Hull ordinances were not called
up on their third reading, but the coun-
| Gil adjourned to meet again Wednesday
night.