The Meeker herald., 1922-04-01
ATTENTION TAXPAYERS!
SHALL WE BUY THE NaEEkER ELECTRIC LIGHT PLArSr7

iowance under the Rules Of the IT'LL
tiles Commission.
Practically this would work ont ms
follows: The Lessee will be obliged
under his lease to keep the plant In
repair at all times during tbe entire
time Of his lease at his own expense,
with the Town standing standard de-
probation due to Obsolesence, natural
wear and decay of the present equip.
ment. and the Lessee standing stan
dard depreciation due to the same
causes on any new appliances, mach
inery or other installation re-
quired for the purpose of replace
ment. All calculations in this con-
nection will be in conformity with
the rules adopted by the Public Ut
Titles Commission, which will insure
= standard. fair and equitable basis,
and under which no greater rate OF
depreciation is allowed on used equip
ment than on new.
Now one other question you want
answered. How much will the Bond
Issue required to purchase the plant
increase your Town Taxes? Not One
Cent. On the other hand the Town
will derive a neat little income from
it's Investment. Let US show you and
you can't help but be. convinced. II
you can make money on this deal In
stead of spending it, don't you want
to own the plant? Sure you do.
We car show you from the report
Of the present owner of the plant to
the Public Utilities Commission for
the year 1920, that the gross Income
was fl1, 5000. Deduct from this the
amount Of 1850 which is approximately
the amount we are paying each year
for street lighting, and 1t leaves $lO,-
100 90. 40 per cent Of which is n, ,28O
which would be the Towns share.
From this amount we would have to
pay our annual interest which, flgur-
ed on the basis of a $25.OOO invested
capital, would amount to 1890. Add
to this about $500 as q liberal allow
ance to cover fire insurance prem
from the $42aO, and 1t will leave us a
net return of $3.50. 1t is cur plan.
(and we will adopt an ordinance or
bylaw to carry the plan into. execu-
tion) to. place all revenues derived
from the plant, over and above the
1880 required for interest and insur-
auce, into reserve fund for the re-
tirement of the bonds. This fund will
be placed on time deposit at the local
banks. and in ten years, or by the
time the bonds become optional. We
will have accumulated approximate
ly $500 by renewing our time de.
posit certificates semi-annually. Fig
ure it out for yourself. We can pay
of our bonds and have money left.
We will have the plant paid for, with
money to spare. In addition don't
overlook the fact that during this
time we have saved $3.50 per year for
street lights. which, In ten years, n
mounts to be q saving OF $500; In
twenty years $4,000. Where can we
possibly lose any money on this deal?
We can buy two such plants ~ the
present one during the term of the
lease and pay for both Of them and
save $4,000 besides. Remember also
that these figures contemplate no
added income, while the books show
that the income has steadily increas-
ed ever since the plant was first put
into operation. The Town Board
wants to save the people money. We
want to reduce your taxes, not raise
them. Here is u way to do 1t. We
have Investigated the whole thing
and know what we are talking about.
Will you support us? II you want to
reduce your city taxes as bad as we
want to reduce them for you, you
will vote YES" on the Light Plant
Bond Issue. Signed
Town BOARD Or TRUSTEES