The Quincy Water Works Plant

Issue 4 and Volume 60.

The Quincy Water Works Plant The City Council, of Quincy, Ill., has decided not to take over the water works plant in that city until October 1. It was intended to have the water works taken over and operated by the city on July 1, but as a delay until October will mean a saving of $22,000 to the city the Council considered it economy to delay the transaction three months longer. The sinking fund, it is stated, at the present time amounts to about $450,000 and draws 5 per cent, per year, under the rule the city would forfeit about $22,000 in interest if it is drawn before the year is up. The water work’s fiscal year is up about October 1, and should the sinking fund be used to help pay for the plant before that time the city would have to do without this year’s interest.

Subscribe to unlock this content

Subscribe Now