Present staff of Capilano Water Works to be kept on when the purchase by the City is complete. Temporary financing arranged with the Bank of British Columbia while debentures sold in London.

This transcript was made in 2018 by Transcribimus volunteer Christine Cathcart

original handwritten minutes here
City of Vancouver Archives
Series 23-A Volume 4 pages 681-683

[vol 5 pg 681]

Vancouver Feb. 24th 1892

A special meeting of the Council was held on Wednesday, February 24th, 1892 for the purpose of providing funds for the purchase of the Water Works and other business as might be taken up.

Present: His Worship the Mayor and Aldermen Anderson, McGuigan, McCraney, Odlum, Franklin, Mills and Gavin.

Moved by Alderman Anderson
Seconded by Alderman Gavin

That the Mayor be authorized to make all necessary arrangements to provide for the payment of the amount due to the Water Works Company on the purchase of the works and plant and to arrange with the bank to grant a temporary loan for the amount required and as security therefor to give a promissory note for the amount, advanced by the bank and an order on Messers Coates and Son of London to pay to the bank any proceeds they may now have or in future have, from the sale of the debentures forwarded and to make arrangements with the bank that if Messers Coates and Son do not sell the balance of the debentures remaining unsold, within a certain time, that the bank shall have power to sell the same and to retain the proceeds thereof to the amount borrowed.

Carried.

The following form of note was approved:
On demand the City of Vancouver promise to pay the Bank of British Columbia or order, at their office in Vancouver …. dollars and interest thereon from date until paid at the rate of seven percent per annum for value received.

[vol 5 pg 682]

Report of  F. W. and L. Committee
The F. Co. and L. Committee met on Wednesday February 24th, 1892 at 4 p.m.
Present: Aldermen Franklin, Mills and McGuigan.
It was recommended:
1. That the Committee with the City Engineer make arrangements to visit the Capilano on Tuesday next re the construction of a road.
2. That in taking over the water works the present staff be retained until further arrangements are made. The City Treasurer to have charge of the financial department and the Engineer of the outside work.
3. That the Committee be empowered to select a site for a Central Fire Hall and also for fire hall for Mount Pleasant and report.
4. That William Davey’s salary be raised to $50.00 per month in accordance with the terms of his engagement, the remaining applications to be laid over till estimates are brought in.
5. That A. Morrison Duplex Chemical Fire Engine be purchased from the Gutta Percha and Rubber Manufacturing Company of Toronto, price 2740 delivered free of all charges at the fire hall in the City of Vancouver providing the insurance companies doing business in the city contribute to the cost.

Signed J. L. Franklin

Chairman

Moved by Alderman Anderson
Seconded by Alderman Gavin
That Clause 5 be referred back for report on Monday night.
Carried

Moved by Alderman Anderson
Seconded by Alderman McGuigan

[vol 5 pg 683]

That the balance of the report be adopted.
Carried.

The Council then adjourned.

(signed) F. Cope, Mayor
Thomas McGuigan, City Clerk

Special meeting of Council to arrange funding for water works purchase – February 24, 1892
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