1938-1939 Council Minutes - Lancaster County Website

Mr, Hogsher reported for the Committee appointed to consider the
advisability . of refunding Borough Bonds and issuing same at a lower interest
rate ~ He. stated that in order to, do so the Sinking Fund would have to be
liquidated and"three mortgages in which a portion of the Sinking Fund monies
are invested. would have to be called. - He- stated that the new bonds would
be regularly retired and. that a net saving of approximately $225. 00 would
be affected the first year, The estimated cost of this proceeding would.
be in .
the neighborhood of $200 F 00
On motion of M. Huber Hess, seconded by WilZiam T. Koch, and duly passed
by vote of seven "ayes" and no "nays", it was resolved that Strasburg Borough
bonds be refunded. and new bonds issued at a lesser rate of interest, conform-
atively with the Act of Assembly of May 9, 1935~ PE L, 155~ Sec. l ~
Ordinance.
The Secretary . suggested the advisabili ty of taking this action by
E. C. Kaufman inquired of the"Water Department concerning the cost of
having. a new four inch line . from the Borough water main -to his factory in
order to take care of a sprinkler system which he is contemplating installing
therein. Mr ~ Homsher, for the Water Committee, stated that he felt the work
shoulcL be done by the Borough Water' Department and' that Mr. Kaufman should
be charged only the actual cost thereof in that the ins tallation of a
the .
sprinkler system would have the affect of lessening:. '. fire hazard in that
section of the Borough.
Relief Committee: No report.
On behalf of W. J Weaver, the Secretary gave the following treasurer's
report as of August 1, 1938 '
Balance from last month 3914 F 71
Money received since last month 190+30
Paid out las t month
Balance on hand:
4005, 01
455 ' 94
$ 3649. 0V