Show Bountiful City Budget Adopted As Passed Last Week The Bountiful City budget for 1938 1933 was adopted Thursday by the city council as passed at the regu- regu regular lar meeting on e even even- ng of last week Sixteen hundred dollars set up in the general and public affairs and finance fund for the payment by the city to the municipal light plant for street lights the light plant acquiring a new unit for gen g-en crating current and as to whether the city is liable to owners of municipal light bonds Were phases of the budget that were discuss discuss- discussed discussed ed edat at the hearing It was thought that the light plant should stand this expense in- in instead instead stead of the taxpayer but it was explained that the plant had made madeno madeno no profit above operation main main- maintenance maintenance interest payments on bonds etc Ordinance was quoted which states that extensions and improve improvements improvements ments to the municipal power plant can be made only when suf- suf money from the of the plant has been set aside to pay next years year's interest on the bonds and the bonds that mature for the year This refers to the new diesel engine that has replaced a smaller unit at the plant City City Attorney Hammond explained this unit is being heing- rented until such time as the earnings of the plant will 11 be sufficient so it can be paid for forand forand and all the taxpayer is required to pay is a small rental As to whether the cit city is liable for the payment of the bonds or not was information that Attorney Attorney ney Shirley Jones of f Salt Lake Lak-e City wanted to know w as he is isa a municipal bond owner and he con con- contended contended tended the city was as it had passed an ordinance that would indicate it but it was explained that regardless of the ordinance the power plant was separate and apart from the city that the city had merely sponsored it Attorney Jones said the bond hond holders were vitally interested in whether the city is hack back of the bonds or not he said it was with the understand understanding lug ing- that it was that the bonds were bought City Attorney Ham Ham- Hammond mond said this question to whether whether ther cities like ours would be obligated obligated gated is now before the supreme court cou rt Mr Jones on stated that this de- de decision of the supreme court Mr Ir Jones stated that this de- de decision decision of the supreme court did not hinge upon the ofa ofa con con- contractual agreement f t Q parties in which an ordinance was made part of that a agreement and that the thc bondholders have the ti right h to hold the citY cit j to to the tha con con- a agreement entered into J Perccy Goddard a certified accountant of Salt Lake City was pre the interest I- I INe of Attorney Jones nes Ne Next t years years expenditures of the cit city will exceed er ed this ears by about due to paying for the city well pump pipe line exten- exten extensions etc |