The Village Council has caused an estimate to be made of the cost of said water supply and distribution system by the consulting engineer, R.W. Petrie, and it is hereby determined that the total estimated cost of such system, including engineering, financial, and legal expenses and capitalized interest to and including January 1, 1954, is the sum of $130,000, and the period of usefulness of said proposed improvements is estimated to be 50 years.
(Ord. 201, passed - -)