HomeMy WebLinkAboutR-0650 - Reaffirming Approval of Engineering report on its proposed Natural Gas Distribution System, as set forth by motion approved at Council meeting of Marc.:
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A RESOLUTION or the T01lIl ot J!aI7lJv1lle,
Wasb1ngtc::n Reatfirllling Approval of Eng1naering
Report Q?Itl!Proposed Natural GaB D18tribu~
t10n Sylltem,As set rortb By Motion Approved
At CouncU Jesting of !hrch 27,1953.
iiIlEREAS,as a result ot the general rising trend in the
cost of money,Revenue Bonds whicb this Town wUl soek to iSBUll
to finance the construction of itl!lIIDJlici~ownedgaB distrib-
ution system,lIS described in the Eng1neeri.ng Report aubIlIitted
to it b,.Porter,Barr7 «<Associates of Baton Rouge,Lou1s1ana,
and approved b,.motion at CouncU Maet:lng of Hu'ch21,19$3,ma,.
have to bear interest rates of as much 88 4 J/2'f,to 4 314%in
lieu of the 4%indicated in said Engineering Report,and
WHEREAS,such an increase in bond interest rates JII1ght con-
ceiYab~man an increase in rates to be charged the CCll'lSUlllel'IJ
of gaB :1n this faun of as IlIIlCh all 1_per thousand cubic teet over
the prlcea heretofore indicated,
l!OV1,THEREFORB.BB IT RESOLVED b;r the CouncU of this TOlIn
that notwitbtitanding such a possible development and resulting
increase in rates,too Town rew..'n ..anx101IS to obtain a euppl7
of natural g!1ll tor distributic::n through lIIIm1cipally-owned and
operated fac111t1es,and therefore again c0ntirm8 ita appravaJ.
of the Engineering Report approved by motion in its IlW38ting of
Jv f'(E./S',1953.
TOWN OF HAR15VIW!:.WASHI1TGTOI'J
ATTEST:
DATED:~/f7 ,1953