Show mr J P HL manson makes proposition P ro position to the Tam taxpayers P myers of price via first 1 I hereby agree to pov io off all of tho elec electron trie light bonds now owing by tho the city of price and amounting to tent fhe thousand dollars the t ame tame u to be paid tight thousand thoU Mand dollar july 1 1920 eight thousand july 21 1921 and eight thousand arid april 1 1923 3 bior the purpose os of retiring these bonds on the aboe dated date which Is the first period they can bo be paid I 1 aggee to delin deposit sit in such bani banh or hanks bans as ma jun be designated by the cit CIO council nt itt the time of the signing of the proposed lease the sum of 1360 00 one bear ear from date of paid said lease to deposit tho aum sum ot or s oooo oo 00 and on april apell I 1 ig 10 to hae on an de posit to the credit of said ota tit the full sum of 00 and on the first of april ll 1931 1021 to lime on deposit delmot in such bank or bankd banka ns as be designated by tho the cit the full sum suin of 00 and on the first da of january januar 1923 to have lute on deposit in bank or bunka banks us as ma be designated by cit the further sum of 00 and to further furt lier guarantee to tho the paid said that the same shall be done lone a wo heretofore agre gracd d I 1 will nill furnish to the city a good and sufficient lelent bond ta be app roid 1 b the alt in the aum sum of ten dollars second to furnish free of nil all coat colt to fn the city of price ut lit all times burtne lh tho term of said wild leace 1 all current nee 14 to light the streets of price in ns as good a manner an they are now lighted to furnish current or free of coit to the cit for the purpose of pumping necessary nece for the maintenance of its municipal water plant and to furnish all current asir to properly proM iriv light hll it buildings owned or used for or purposes seq to make malce nil all ne lessar extensions for tha purpose of lighting said streets itna na to furnish all au lamps at my rny onn oun used in connection with ald taid bight lighting ing nt at oil times doirin the term of said sold lease third to 1 to the consumers 0 of paid city rients four hours continuous service serice and be prepared at tit to sere the public with the and proper kind of service to make inake all ne cesear po poletine leline extensions at nil times during the life of this lase lease that nay may become nc cessar to swo serne tho the public at rt tn own ex pense li I 1 herby hereby agree that the present schedule of prices charged the public nt this time shall not be railed raised during the life of said lease but reserve the to loner the rates at any lime time hould should the operation of the plant justly it fifth to keep said plant all pole pale lines anti in connection with eald said electric light and power plaat in ft a good of repair at ill it limes times during the eald id lease at my cn eapen e and avid at the expiration of ald slid lease to turn over the plant a all 11 pole lines unes and extensions tensions ox arthin the corporate of said price city in as a good or belle phal phascal cal condition they are now in all new extension 1 era so made by me durig duran g the lease to become the property of 0 eald said city freo of ana an and all indebtedness without cost to bald sald city that da in a part of the consideration on behalf ot ol the city of price eald sald cita ahall shall grant to eald salt I 1 ar IL mansun a franch franchise ke for tho purpose nl ot laving laning for furnishing heal bent t the busane bus lne action sf of bald sald cp ell for a period of went tho ears care on these streeta I 1 on oil ninth street I 1 ameen tho den ien cr and 1110 grando grande to J I 1 on T 1 I from sixth to tenth street on klenth street and fj J on lighth street from a point to wo hundred fc ko south of tho the denser dener and 1110 grando grande tracks to J street that at the expiration of said sald lease the oty ity of price aill cause to bo be paid ti tu J IT 11 mansch ahe he physical phia tco valuation of all steam maltis manis or steam stearn line lines the alu alua atlon tion to le be dirtied at b a committee to bo be appointed one member to bo be at appointed poInted by the cita and one by the lessee and the tuco to appoint a third whose whoso finding findings shall bo be final or I 1 alil ill retain the era ya belll with the understanding of leing granted a new now franchise for aca ting at the end of twenty alk five ears earn and that nil all eald steam pipes and connection therewith are to lecorno the property of eald said city free of ill indebtedness of every eiery kind and nature and that all contracts between the sacci J II 11 manson at the date of tho the expiration of r bild ild leane lease shall be turned over to the wild ell J II 11 11 MANSON ANSON Estinia estimated ted to the city of price should the people determine to leante 1 their light and anti power plant un der the proposition submitted by J 11 II manson now on file with city re corder lauber and dated reb february 20 1917 are riven ghen in a subjoined table in connection with nith the statement of estimated saliK 3 to tho the cit and also income anil and disbursement figures presented aa given glen aboe abote manson says if the city continues to operate the plant for a period of twenty menty five fhe bearo ear under present conditions it would still be owing tho the bonds and will hive he paid inkret t on bond bonds amounting to tu 17 oo 00 I 1 ic aldei losing in operating expenses and upkeep of plant Ts T it not better to lease the plant and receive it hick ivick in twenty tent five yara guaranteed to be in as goo I 1 or better condition than it it 14 nt tho the present timo free of indebtedness of every character free current and power for tt th streets pumping its and lighting its buildings without further bonds the city elty la Is not alle to make inake the extensions nee emary to auppl the people of price with ith the current debited several extensions have bac been asked asbed tor for during the past three or four bears but none have hae been built under the proposed wise these extensions will ill be built mono will bo be tn invested ested to get more consumer consumers a li heiting eLting plant will be established and maintained maintain ed from waste naste 11 steam team from the plant under lease t reducing the cost of heat to owner owners of business rusl nesa blocks within the tho business section of the city with the pre present ent bonded indebtedness for electric lights removed it will nili give gie the city power to bond tor for twenty five thousand thou dollars more for good and better water nater the present bonding limit of tho the cit over oer and rabo e pree present tent bonds la Is about eighty five me dollars if the electric light bonds were vere paid this would increase crea e our bonding limit to one hundred and ten thousand dollars FIGURES ARE SUBMITTED indebtedness bild off 00 leit lea eara earn interest Inter cut on present debt is oo 00 tant rhe bears street lighting valued ut 66 56 00 te seers current tor pumping valor at present consumption at 1037 13 buildings estimated 7 00 Tient fhe fie sears ears current currant for lighting public sprit tw nit five ears upkeep based basea on 5 per ceni cent per annum on investment of 2921 25 total leis interest to be paid on bonds to date of tl pat nent 8 00 70 25 balance e STATE STATEMENT ipar Ip Nr OF or INCOME A AND D dulling DURING PAST ONE MONTHS amount p paid aid J 11 manalon at the rate of 00 per month 00 2 62 5 0 0 interest on bonds depreciation based baaed on 5 per cent per annum 65 45 47 month 18 47 total income from all sources iNe raging per IS 18 ross to city for or tw enty one montha months THINK aff V I 1 1 14 1 T THE H h |