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R. Mathison Collection

[Draft of proposal from Coquitlam Water Works Co'y to the City of Vancouver] Mathison, Robert, Jr. 1886

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Coquitlam Water Works Co'y     Mr. E.A. Wilmot, representing the   Coquitlam    Water   Works   Company, explained:  The cost of work to bring water to Vancouver, including a distribution system for, say 5,000 people, is estimated at $350,000.  The city is asked to guarantee 3 per cent interest on the company's bonds;   The works to be completed in one  year, the Company being willing to give a bond or a forfeit that this should be done. The City to have a lien on all receipts up to the extent of its liability for interest; and any amount advanced by the City for deficiency under the guarantee, is to be charged against the Company and repaid by them, they City to be secured by a lien on the revenue.    If within two years there are five thousand inhabitants in Vancouver the revenue from water rates, estimated on the basis of $4.50 per annum, will be $22,500, on which the City will have a security for it liability on account of its guarantee of $14,000.  The guarantee not to extend beyond twenty years and the liability on guarantee will be lessened each year by sinking fund.  The company will furnish hydrants, wherever the council think necessary, free to the corporation, and maintain a first-class fire protection, whereby insurance will be reduced to a minimum rate not exceeding say 1 1/2 per cent, provided that a fire protection rate is levied on property thus protected, sufficient to cover the expenses necessary to furnish such fire protection.  The rate to be levied on insurable property not to exceed 1/4 of 1 per cent.  The company will furnish water free for flushing sewers when necessary, or for other public use that will not interfere with the revenue of the company to the extent of 300,000 gallons.  The main, from the source to the reservoir near Port Moody, will be 14 inches in diameter, or of suffient capacity to supply 25,000 people with 60 gallons a day per head, and from the reservoir to Vancouver, not less than 16 inches in diameter, the latter distance being about 9 1/2 miles.  The elevation of the reservoir about 350 feet above sea level.  The reservoir will have sufficient capacity to supply 25,000 people for ten days.  The company will guarantee the feasibility of the scheme, and an opinion thereon from a disinterested engineer will be submitted.

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