10-31-1932 VCM
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The Village Council of the village of Elk River, Sh~
burne County, Minnesota, met in the Council Room in the
Village Hall on the 31st daY of October, 1932, at 2:00 0'
Clook, P.M. in special session pursuant to notice duly
~iven.
The meet iug was called to order by the President and
upon roll call the followl~ members were found to be pres-
ent: D.E.Davis, W.F.Chadbourne, Geo. Cornelius, J.D.Flah-
erty and C.E.Brown. Absent: none.
Mr. Richarason, Consulti~ Eniineer for t he Village,
bel~ present, a ~eneral discussion was had conc~ning the
question of electric rates and of the erectipn of a munici-
pal lightin~ plant. The Council carefully consideaed the
matter and fully advised i~self in the premtses.
Mr. C.E. Brown introduced the followi~ resolution and
moved its adoption:
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Resolution
A Resolution relati~ to the erection
of a li{i;hting plant for the Village
of Elk River, Minnesota.
Whereas, the council has secured competent consultl~
engineers to report on the question of electric rates and
such report has been duly prepared and submitted to this
Council, and
Whereas, this Council has carefully considered such
repOEt and has fully advised l~Belf in the ,premises,
Now, Therefore, Be It Resolved, by the Village Coun-
cil of the Village of Elk River, Sherburne County, Minn-
esota, as follows:
(1) That this Village SEect a lighting plant for sup-
plying light for public purposes and for the private use
of its inhabitants and that in the judgement of this Coun-
cil it is advisable, expedient and necessary to issue and
there are hereby authorized and directed to be issued, sub-
ject to the approval of the voters of this village, the
negotiable coupon bonds of said Village in the aggregate
amount of $100,000 for said purpose.
(2) That said bonds shall bear interest at not to ex-
ceed six per cent per annum, payable semi-annually; shall
be in denomination of $1,000 each and shall mature as fol-
lows:
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13,000 three years from date of bonds,
4,000 four years from date of bonds,
4,000 five years from date of bonds,
4,000 six years from dat e of bonds,
15,000 seven years from date of bonds,
5,000 eight years from date of bonds,
5,000 nine year. from date of bonds,
$7,000 ten years from date of bonds,
$7,000 eleven years from date of bondS,
$7 ,000 twelve years from date of bonds,
$7,000 thirteen years from date of bonds,
$7,000 fourt een years from date of bOnds,
$7,000 fifteen years from;; date of bond..,
$7,000 sixteen years frota date of boIlis,
$7,000 sevent een years from d
$ 7,000 eig-hteen years from cra~tee 00/ ~"
$7,000 ninteen years from date of bonds~
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In fur. Richardsons report it was set for that the
Elk River h~/dro_electric plant at the present time is
good for less than (50) kilowatts continuo~sly and that
during the YEar 1931 the .i1.lk River Qrower &: Light Co.
generated approximatel:r 514.804 kilowatt hours and pur_ ..
chased B08.6oo, a total of 1323.404, of which they sold ~
1.004.094, showing an energy losb of 319 310 kilowatt
hours of 24%. The average price received'for current by
the Blk River Power& Light Co appears to be 6,03 cents
per kilowatt hour,
The Ek. River Power & Light co, in 1931 paid~t66 ~~
as local Village taxes. The Village paid to the ~lk Rlv6r
Power & Light Co in 1~31, $2 763,11 for electrical energy
consumed b~ pumping, street iJ.ghts, etc,
~ew rates recentlJI pU": into force by the eastern
kinnesota Power Co amount to an B_cent rate net for the '
first kilowatt hours used per month and all over, ~cents,
with a minimum net mmnthly bill of $1,19, Their other
rates are in a cOI'respondingly desirable ratio. These are
cited because the towns served are of comparable size and
even further from the Twin Cities than Elk River,
The cost of a new municipal plant complete, in_
cluding all replacement meters complete new modern and
afficient electric distribution system with new street
lights, etc" is approximately $100.000. The cost mf a
complete new white way system is approximately $6,740,00
,~~ This plant #would be the last word in modern design
and construction and would be as efficient as any plan~ .
of this capacity could be designed,
Allowing a liberal aet up for cost of labor, in_
surance, fuel and all other items entering into the cost
of operation of a plant of this nature, it is anticipated ..
that at the end of the fefteen years all bonds could be ..
retired and a combined replacement and accumulated re_
served fend of S9C oc6,9B would be established. At the ed
end of that time, allowing t2C 000 for additional plant
extensions, with all theGe betterments taken care of by
the twentif;th vearl.. there will.be a combine(l. replacement
and accumulatea re~erve amountJ.ng to approxJ.mately
$152.051.42. .
Plans showing the prcse~t electric ~istributJ.on
system, the propesed new electrJ.c distrJ.butJ.on system
a washed drawing showin~ the new power plant and a pre~
liminary plan snowing tHe machinery placement ih the new
power plant have been submitted and may be seen b~T a~yone
interested.
No further business~ meeting adjourned,
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