| Show to W OARD P L NS FOR LIGHTING SYSTEM verbal agreement is filtered arranging for the financing of installation of new system following will be found zi a copy of the minutes of at a special meeting held by the monticell Monti celb town board sunday last which is self explanatory at the meeting were present swie of the largest electric energy users all of whom approved the action of the town baard minutes of special meeting of the town board of monticello utah held at 2 p m march 8 IMS at which the president and the following members of the board were present W if christensen Christens cn C A black claua L young and A R barton i this meeting was held to consider proposed installation of a diesel electric rawer plant to be owned and j operated by the town of M monticello entice lo 10 i present at the meeting were R M murray and G B metcalfe they of i to the town in i erbal plop proposal osal I 1 on behalf of the cameo investment company of salt lake city utah to I 1 install bior for the town a 75 HP model 1 fairbanks morse diesel generating plant complete with accessories I 1 on foundations and in a building to be furnished by the town the purchase price of the generating plant to be same to be payable as follows 1000 in 1937 aso also in 1938 1939 5 in 1942 in 1943 in 1944 in 1945 jn in 1946 in 1917 in 19 1918 IK 50 in fir 1949 in in in 1951 in 1952 1 in 1953 1 in 1954 1000 1000 in 1955 and in 1955 1956 payments mentioned above are to be le ie presented by notes exe executed buted by the town in in form and manner and conditions to be ou outlined tined in a formal written proposal to be presented by the cameo investment co interest on the deferred payments to be at the rate of 6 per cent in outlining the operation of the proposed plant sir mr murray estimated that based on present pt lver load available in the town of B BI it should be possible under municipal cumers ownership bip operation for the town to show a net revenue of approximately I 1 2600 2500 00 per year while operating under the late schedule recently proposed for the town the plan coull I 1 i be to give 24 hour day service with voltage automatically controlled thru the installation at the plant ot of an automatic voltage regulator to be furnished and installed as part of the generating plant with a reasonable in load due to good service revenues and net profits would be materially increased mr murray further stated that the cameo in vestment estment C company if necessary would advance additional funds to td take care of the power p pant panf ant build ing in and the building of a new transmission system terms of payment on the additional money would be similar to the terms given on the engine equipment after due consideration a motion was made by claud L young and seconded by W H christensen as follows that the proposal as made verbally today on behalf of the cameo investment company and covering the furnishing and installation stal lation of a 75 HP model fairbanks morse engine generating unit for the total sum of be accepted and that the town clerk be instructed to the cameo privest investment company to present formal written proposal the vote on the above motion was as follows chas A burr aye claud L youn aye W H christensen aye A R barton aye chester A blat blak bla k fc aye thereupon the president n of the board declared the motion unanimously adopted A motion was then wade by C A at black and seconded by claud caud L youns young as follows that when the formal papers are presented by the cameo came 0 investment company campany a regular meeting of the domn board will be called and the president of the town board and town clerk be authorized on behalf of cof the town of monticello to sign formal written proposal provided it if van conforms forms in every way to the verbal proposal presented at this meeting and also to execute necessary legal documents in connection c with the contract vote on the above was as follows chas A burr aye caud L youny young aye W H christensen aye A R barton aye chester A black aye lW whereupon hereupon the pre preside id it t of the board declared the morion unanimously adopted |
