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Show tjton Nlayor Cites Meed )r Boosting Water Rate C Water Revenue From Present Rate Deemed Inadequate To 1 Meet Bond Payments And Interest Lr Wm. H. Linck detailed Kvs culinarv situation, Wcd-SfeJ Wcd-SfeJ JSd advised that the jCordinaiice increasing city s rates will become effec- fussing last week's mass "m held to sift the issues k in My ton's current indebtedness, Mayor . pointed out that Eugene of the Reconstruction Fire Fi-re Corporation, financiers of i culinary water system, ijined to the assembly the 'as for an increase in city grates. According to Mayor jt Porter advised that My- city would be able to catch Tith its back interest and the Client payments on its RFC indebtedness through the suggested sug-gested rate increase. Myton's water system, started in September of 1938 with WPA labor, should have ' been completed com-pleted within 90 days after the date of the initial work, Linck advised. Misunderstandings in the agreements, however, were responsible for subsequent delays. de-lays. Explaining further Mayor Linck advised: "The $16,000 derived from our bond issue with RFC was spent for the construction of a reservoir reser-voir and the purchase of pipe. In 1941 when war broke out the funds were exhausted and WPA material was discontinued, leaving leav-ing us with a water system reaching reach-ing only to the center of town. "In 1942 through negotiations with RFC, Myton was granted an additional loan of $5000 which was not covered by revenue reve-nue bonds. This, with money furnished by Myton plus the consistant efforts of the city councils .which held office from 1938 to 1942 the present culinary culi-nary water system has been practically completed. "All of our water revenue, which incidentally is under the supervision of RFC, has been spent in establishing 110 connections. con-nections. It was therefore necessary neces-sary to defer payment of accumulated accum-ulated interest in the amount of $5600 and also to arrange for the deferment of bond payments. "We must now face the fact that back interest and delinquent bond payments must be met. Present revenue from our water system is not sufficient to offset ovcrhoi!i- . ,V" v'pfi'""'ncG' bond and interest payments. The rate which will go into effect August 1 will amount to an additional $1 a month per connection. "According to Mr. Porter, Myton My-ton will receive $4000 from the RFC with which to' complete 2200 feet of water main if such a procedure is in conformity |