OCR Text |
Show City Councilmen Tackle Plant Fund Obligation At the regular meeting of the City Council on Monday night a decision was made to take legal steps to issue a new series of obligations to obtain funds with which to pay the remaining obligations ob-ligations incurred in the construction con-struction of the Paragonah hydro-electric pjant and engineering engineer-ing costs on that plant and the Parowan plant, constructed several sev-eral years ago. An ordinance providing for the issuance of revenue certificates, drawn up by Judge Elias Hansen of Salt Lake City, was studied at a special meeting of the council coun-cil last week. At that meeting some minor corrections were made by the council and Thomas C. Adams, city engineer, and Mr. Adams took the ordinance copy back to Judge Hansen to incorporate incor-porate these corrections. As soon as the revised copy of the ordinance ordi-nance is returned a special meeting meet-ing will be called for its' passage. Following its passage and publication publi-cation the certificates will be sold to finish paying off the indebtedness in-debtedness incurred in the power plant construction. These certificates, when issued, are not of a general obligation type, but are notes issued for a certain period of time, against the earnings of the power system sys-tem and are to he paid solely from earnings of the system. At the suggestion of Councilman Council-man Lyman, it was decided to hold another meeting with the Public Service Commission in Salt Lake City right away for the purpose of discussing the rates being charged Parowan City fer electric energy. A past decision by the commission granted the Southern Utah Power Company a' raise of 14.9 in charges for power purchased by Parowan City, but the contract as submitted submit-ted by the Power company for July was much higher than that and could run between 50 and 100 higher. Because of the stalemate in placing of lights on the high school athletic field, and in order to iron out some of the difficulties difficul-ties and problems which have developed in the program, it was decided that a meeting of members mem-bers of the City Council, with representatives rep-resentatives of the Chamber of Commerce and other civic organizations organ-izations should be held to try to iron out these difficulties and decide what to do in the matter. This meeting was set for Wednesday Wed-nesday night. |