HomeMy WebLinkAboutMayor's Report Jan 19780
MAYOR'S REPORT-for January 16, 1978
Gordon Wheeler and I met with Messrs. Collins and Rorke of ATC on Wednesday,
January Ii. Shailer Philbr•Ick, whom I had invited, could not join us. Mr.
Collins presented a ropy of the report made by inilopendont appraisers of the
value of the physical assets of the Corrache Television Corp. The appraisal'
omitted buildings owned by the Corporation and microwave equipment used to bring,.
in distant signals from New York City.
The report deals in separate short sections with - 1
(a) The electronic equipment used in the system
(b) The coaxial cable
(c) The receiving site locations and their equipment.
Concerning, each of,thosn items the appraisers judged that they were .aboIut two years
old and were of excellent quality. They therefore felt justified in using the prices
given in, current manufacturers' catalogs as a point of departure in setting fair
market value of these assets.
In the ,case of items (a) and ('.0, they thought it appropriate to modify the
catalogue prices by making allowance for depreciation. In presenting this view,,
the appraisers used the following language, AS to ftam (a) ahove, they spoke of
catalog price. .
"Less allowance for depreciation of the assets in place. Because of the recent
Installation of the.amplification equipment, it is our opinion that the current
replacement costs used in our current fair market valuation would approximate.
original installed cost."
As to item (b), they say,
"We utilized current maiufacturersI price catalogs, less an allowance for the
cond'it•lon of the coaxal cable." They do not of for a figure or figures to show
what modification they have used in these instances.
As to item (c), they say that though it was installed two years ago, it uses
materials that are "the latest stair, of the art ". The implication is that no
allowance for depreciation is appropriate.
i have received the following letter from Mrs. Cladel.
Mr. Charles L. Smith of 110 Hanshaw Rd, maintains !.is a
affairs by letter. in the Iatost of two communications
last week, he complains that Village snowplows pass his
of our moat dangerous corners - at little less than the
snow twenty feet into his driveway.
averse criticism of Village
he sent Village officials
p roperly - which is on one
speed of light and throw
Other communications from Villagers on the work of the snowplow areas, by word of
rra)uth and letter, have expressed praise and thanks.
F.G. Marcharn, Mayort