OCR Text |
Show Hydro Plant Bond Sale Delayed By Legal Technicality The sale of $215,000 worth of revenue bonds being issued by Parowan city for construction of the new hydro-electric plant in Paragonah canyon and to refund some general obligation bonds now outstanding against the present plant, which was to have taken place Friday, Dec. 18, has had to be postponed, Mayor E. Ray Lyman announces. the postponement was caused by a slight mistake by bonding attorneys in figuring percentage iatio ot bonds between the present pres-ent Parowan plant and the new Paragonah plant. This will necessitate neces-sitate republishing of part if not all of the bonding ordinance, Mayoi Lvman states. This will be done next week if possible, with a new sale date for the bonds to be set at the same time. In the meantime most of the three mile penstock for the new plant in Paragonah canyon Is now laid and w;ll be finished in a sliert time. But the completion of the plant will be delayed until un-til at least July by other phases of the work. The main one of these is the obtaining of the water wheel which is coming from die Pelton Water Wheel Co. |