On October 16, 2003, about 1755 central daylight time, a Cessna 150M, N3807V, was substantially damaged when it struck wires and impacted a lake, while maneuvering in Wax, Kentucky. The certificated private pilot and passenger were fatally injured. Visual meteorological conditions prevailed and no flight plan had been filed for the local flight that departed the Vine Grove Airport (70KY), Vine Grove, Kentucky, about 1700. The personal flight was conducted under 14 CFR Part 91. The airplane was based at 70KY. According to the owner of the airplane, the pilot arrived at the airport about 1615 and was informed that another pilot had reserved the airplane at 1630. The pilot elected to wait around, and when the previously scheduled flight was cancelled, he refueled the airplane and departed about 1700. The airplane was reported as missing after it did not return to Vine Grove, on the evening of October 16. The airplane was located about 30 miles south-southwest of 70KY, in Nolin Lake, on October 18, 2003, submerged in 21 feet of water. A power line which extended about 870 feet, was approximately 80 to 85 feet above the lake in the vicinity of the accident site. According to a power company representative, a power interruption was reported at 1755, on October 16, and subsequent examination of the power line revealed it was damaged. The power line was unmarked. It consisted of a neutral conductor, which was found broken, and a 7,200 volt "#452 alumoweld single phase tap line," which had separated from it's cross arm as it crossed the lake. During an interview with a Federal Aviation Administration (FAA) inspector, a witness who lived near the accident site stated he observed an airplane about the time of the accident, "buzzing the lake and flying really low." The airplane was recovered on October 20, 2003, and examined at the Vine Grove Airport. The examination did not reveal any pre-impact mechanical malfunctions of the airframe or engine. Flight control continuity was confirmed from the cockpit to all primary control surfaces. Vertical cuts with diagonal marks consistent with a wire strike, were observed on the leading edges of the left and right wings. The airplane had been operated for about 82 hours since it's most recent annual inspection, which was performed on March 1, 2003. The pilot reported 180 hours of total flight experience on his most recent application for an FAA third class medical certificate, which was issued on April 7, 2003. Weather reported at an airport about 30 miles south-southwest of the accident site, at 1753, included a visibility of 10 miles and clear skies.