The Bluffton news. [volume] (Bluffton, Ohio) 1875-current, 1946-07-11
SALE OF BONDS
WILL BE HELD
ON AUGUST q
Board of Public Affairs Takes
Preliminary Steps Tuesday
Night.
Revenue Bonds Will Require no
Additional Tax Levy For
Payment

Revenue bonds in the sum of $685.
600 to provide funds for proposed i'm
provements at Bluffton's municipal
electric light and waterworks plant
will be offered for sale on August %,
according to plans formulated at a
meeting of the Board of Public At
fairs, Tuesday night.
Thru the issue of $125,000 in bonds
it is proposed to meet the cost of the
major portion of the projected i'm
proyement which is estimated at
$150,000. The remaining $25,000 the
board expects 10 pay from the cash
balance in its treasury as the work
proceeds over an estimated 18 months
period.
Conferring with the board Tuesday
night was a representative of Stran-
ahan & Co., Toledo bond dealers who
will supply technical data and details
in connection with preparation of
specifications for the bond issue.
Seek Lowest Interest Bidder
Details of the issue, incomplete
when the board adjourned Tuesday
night, are expected to be worked out
within the next two weeks. The bonds
probably will extend over a 20 year
period and according to present plans
will be awarded to the lowest interest
bidder on the basis of competitive
bidding.
While no estimate was available as
to what rate of interest would be re-
quired to market the issue, it was
pointed out I'M this connection that
other fairly recent municipal issues
in this section have been sold at a
rate of less than 2 per cent.
Revenue of the municipal plant will
provide the underlying security for
the bonds and principal and interest
are to be hquidated thru plant earn
ings. No additional property taxes
will be levied for this purpose and the
bonds will not represent a general
obligation or lien against the town.
New Boiler
Included in the S150,000 improve
ment program will be the installation
of a new 81 800 pounds per hour boil
er, and construction of a 225-foot
stack.
1t IS estimated that approximately
IS months will be required to COM
plete the work, because of prevailing
delays in obtaining delivery of ma
terials.
The improvement program, worked
out with the boards consulting en-
gineers, calls for the installation of
the new boiler inside the present
plant building, and in the space where
overhead coal storage now is provi-
ded.
This will make it possible to re-
tain for standby use two outmoded
boilers, which have been condemned,
and with them the plant can continue
in operation should emergencies shut
down the one serviceable boiler.
1880 Pounds Capacity
Proposed as new equipments is
Sterling type boiler with spreader
stoker, and it's capacity of 37,500
pounds per hour will provide for what
normal expansion of steam genera
tion needs may represent over the
next several years.
A concrete smoke stack Is being
considered, instead of brick, because
of lower costs involved in construc-
tion, and also because concrete better
withstands shock from blasting.
The new stack, 225 feet high and
eight feet in diameter, will be twice
as high as the present 110-foot stack.
Its principal advantage will be for
more economical operation of boilers
1t will be located near the present