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Publisher
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Transcription
T.A.C. Nov. 29th, Here is one approach to finding a fair purchase price for the local water utility. I am not so sure that the tax, and interest savings, under niuni&a^ael ownership, should be capitalized, as I have shown, FOR does it not penalize the water users, since they already lose the tax income from the utility, then find that this loss in taxes is capitalized into an amount to pay for the utility because of the savings. That is a flaw I can not quite solve in my mind. HFC
