1922
DOI: 10.1061/taceat.0003174
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Construction Progress of the Hetch Hetchy Water Supply of San Francisco, California

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“…89 "It is to the advantage of San Francisco," he patiently explained to cost-conscious critics, "to begin as soon as possible to generate the power which is a by-product of the water development, so that the revenue from power sales can be used to pay interest and redemption charges on bonds, reducing the burden to be carried by the taxpayers on the water project." 90 Electricity revenues never covered anywhere near the project's total cost, but O'Shaughnessy arranged for at least part of Hetch Hetchy to be built on a pay-as-you-go basis.…”
mentioning
confidence: 99%
“…89 "It is to the advantage of San Francisco," he patiently explained to cost-conscious critics, "to begin as soon as possible to generate the power which is a by-product of the water development, so that the revenue from power sales can be used to pay interest and redemption charges on bonds, reducing the burden to be carried by the taxpayers on the water project." 90 Electricity revenues never covered anywhere near the project's total cost, but O'Shaughnessy arranged for at least part of Hetch Hetchy to be built on a pay-as-you-go basis.…”
mentioning
confidence: 99%