OCR Text |
Show CITY Ml IS BHi ill SPfilllLf j Valuable Investment, Reports Mayor iiA 4 Annual Report, r Citv taxes in SpiWv'jV could' be struck off cnt'r.' ; and all future levies coul reduced materially if it possible to collect all thoj counts due on the Sprinpr municipally - owned X& plant and those due Jj year, city officials report. I The plant is by a long wi I most profitablb investment Fj' made by the city and is tl Lj portant factor in the reduct ) Springville'a tax levy from 1 t about 12.50 for next year, m-x.W ing to John F biting," mayor. 2Itiminat Borrowing Receipts from the system in. 1931 came to $28,500, the expennca of maintenance were $11(0S3, leaving leav-ing approximately $17,500 for other city expenses. Of thus amount $4000 went to the street iepariment: .Si 000 wont to the eled--tric light bono, sinking fund, anll the balance into the system tiz capital outlay. The total rr .1 if sented more than 5 mills. y 1 The city has not borrowr ' I tax anticipation notes, the of Hi I point out. They attribute q economy facor to the succei I J the municipal plant. J The accumulated earnings -0 1 the plant made It possible inl'jf V:.:i'ii ' a h-.'tiroot' ; V. c plr ill Spring Creelc costing abouviV J 0OQ. This fund was over and fnuds contributed to other g 1 ' t ments. . - ..M This additional power uiuit Spring Creek has reduced tlie oc of the standing service fixm til Strawberry Waterusers' associl tion from $4000 In U)o0 lo $2110 f 1 this year. 1 |