Show I 1 i 1 1 tw i l tl Maeser water ter district bond election to be held Tuesday Voting will take place Tuesday March 14 14 on the Water Improvement Improvement Im Im- Im provement District bond election to approve the authorization of in bonds The election will take place at the Maeser Elementary School 2670 West Vest 1000 North for tor all registered voters residing within the Maeser Water Improvement District Polls rolls will wilt be open from 7 am a.m. to 8 pm p.m. Approval of the water district voters is needed to permit the Maeser Water district Board Doard of Trustees to issue and sell bonds to defray the costs of repaying certain obligations incurred in the drilling and equipping of a water well welt and generally extending and Improving the existing water system of the district The bonds bond are not to exceed 40 years and are to be paid from ad valorem taxes or from the operation revenues of the district TIIE UTAH Water Resources Board has lias agreed to purchase of the bonds interest free payable over an eight year period The Maeser district has lias already borrowed in 7 percent bond anticipation notes to pay for drilling a awater awater awater water well These notes will be he paid off by selling the bonds to the Water Resources Board BoUd The growth rate of new water users in Maeser has been averaging 10 percent per year In 1977 the rate of growth was Vas approximately 15 to 18 percent according according ac ac- ac cording to officials A water well was drilled in 1977 because of this growth demand coupled with a drought condition con cone dillon and the possibility that the State might rescind a permit Maeser had to drill a n well The balance of in bonding authorization would be earmarked for lor future bonding to cover all allor or a portion of or the costs of constructing a new water storage facility lines and pumping station and general upgrading and improving the water distribution system as the demands of growth in the area become evident said trustees According to the board of trustees the repayment on the bonds will be paid for with revenues derived from the operation of the water system and no Increase in water rates or property taxes is anticipated Members of th the board of trustees are Dan W W. Turner cl chairman Douglas B B. B Lawson Henry A. A Mansfield Garth J J. J At Atwood wood and Wallace R R. R Anderson |