Jasper County Democrat, Volume 22, Number 103, Rensselaer, Jasper County, 24 March 1920 — FAVORED A NEW LIGHT PLANT [ARTICLE]

FAVORED A NEW LIGHT PLANT

“Mass Meeting” of Citizens So Voted Monday Evening. The “mass meeting” of citizens and taxpayers held at the court house Monday evening on call of the city council differed from any mass meeting that it has ever been the fortune of the writer to attend, in that the meeting was wholly in charge of the mayor, who called It to order and presided during the entire meeting. At the outset, in opening the meeting, the mayor stated that the council had fully made up its mind and determined that a new light plant should be built; that it should be located along the Monon railroad tracks and that the meeting was for the purpose of explaining the conditions confronting the city with the present plant, which had become inadequate to meet the demands that had come and would come tb the plant in the near future. Also to talk over the method of financing the project. Supt. Chamberlain gave a brief history of the plant from the time of its purchase some 22 years ago for $7,500 and the adding of waterworks at a cost of some $37,500, and said that all the improvements, extensions, etc., together with the payment of interest and bonds had been made out of the receipts from the water and light plant and there was now some $30,000 in the light fund (including some $7,000 which the general fund owes the light fund) or more than double the amount necessary to pay off the remaining bonds, which are not yet due and therefore cannot be retired at this time. He explained the proposition of building a new plant and the advantages to be gained and the savings effected in fuel and fuel hauling thereby, etc. That value of the plant at present was about $300,000. The new plant will cost in round figures $150,000, but it would be adequate to meet the natural growth ot the city for many years to come and take care of any ordinary manufacturing industries that might desire to locate here and would desire electric current for power. Mr. Chamberlain, in answer to questions regarding the heating of the school buildings, explained that the plant was now receiving but SI,OOO a year —less than it cost to make the steam-—and that in any event the public service commission was likely to require the school board to pay what it was worth even though the present plant was added to and enlarged to meet immediate needs, which would be in the neighborhood of $4,000 per year; that with the building of a new plant the city could lease the present plant—the boilers of w’hich could be left there —to the school board at a nominal rental and the board could heat the buildings itself; that for the present at least the building must be left as the wells, electric water pumps, stand-pipe, etc., were on this ground. Part of the building mig'ht be used for manual training in the high school, etc.

Mr. Chamberlain was followed by City Attorney Leopold, who explained the proposed plan for financing the project, by the forming of a “dummy” corporation and the issuance of $50,000 common stock, subscribed for by the city, and say, SIOO,OOO preferred stock by the corporation, yrhich would all be sold L —to people here If they would take

hold of it, otherwise to an Indianapolis concern which had agreed to handle it. The mayor called for a rising vote on the proposition of building an entire new plant—lt not being feasible to build on the present site or remodel the present plant —and about two-thirds of the 150 to 200 people present arose to their feet No dissenting votes were cast, and It is understood that the matter will now be hurried along toward getting at actual work as soon as possible and build the plant this season.