The Cairo bulletin. [volume] (Cairo, Ill.) 1872-1878, 1876-03-22
L,PPlNCOTT EXPLAINS.
WHY THE AUDITOR OF PUBLIC Ac.
COUNTS LEVIED A HIGH RAILROAD
TAX On CAIRO AND ALExAN.
DER COUNTY.
The whoie Matter F"iiy and Truth.
fwiiy stated
Correspondents Between Auditor Lppineott
and County Clerk Lynch
Atptrou IIppINCoTr 70 uBruIY.

STATE on ILLINOIS. AuDiIoK', OFFICE
SrHINuriELD, March 10th. 1876. I
Hon. } II oberly, Cairo, Illinois.
DEAR Sin IL have heard that it has
been stated in public meeting in Cairo,
that the levy of local bond taxes for
city of Cairo and Alexander county.
for 1915. is in excess Of the amount
required to be raised, and consequently
Illegal, and it is proposed, TO take meas
urcs to resist its collection.
That all parties .may be fully advised,
| wish to lay before you full statement
of the history of the levy and cxpla-
nation how the same come. to be so
large, from which you Will see | had no
discretion in the matter. but could only
make the levy as did make it Ia com.
pliancc with the plain provisions OF law.
The whole trouble grows out Of this
single fact, that the bonds of the city and
county were issued to the Cairo and st.
Louis X. II. in ls72, when they com
mcnccd TO bear interest, and were regis
tered by the city and county in 1915,
with all the coupons from 1872 attached
to the bonds, and unpaid. The follow =
ing statement will show how the rate per
cent of the levy OF 1876 was obtained:
In December, ls,2, there were regis.
tered in this Office $4,000, bonds issued
by Alexander county, July lst, 1872, in
aid Of the Cairo and Vincennes railroad,
drawing per cent. interest. payable on
the lst day, of January and July Of each
year.
The same amount was registered at
same time for city of Cairo.
During the months OF March and
April, 1875, there were registered for the
county $1,000 bonds. and Tor the city
Of Cairo $4,000 Is per cent semi-annual
interesu bonds, dated January lst, ls72
issued in aid of the Cairo and st. Loui,
| railroad.
The interest to January l.t. 1876, in-
Cured Oh the Cairo and Nincennes
bonds having been provided for by pre-
vious levies, the levy on assessment OF
1875 had to provide for one years inter
est on c. and V. bonds. and tor all inter
est on the Cairo and st. Louis bonds. du,
and to accrue to January lst. ~, inclu-
siye. In other words. all interest which
would have to be paid before taxes col.
lected Oh levy of 1876 would be available
submit the following statement OF the
estimates made by me in making the lev
les in November. 1872.
Amount required Tor Interest on County
| bombs ~ ,2S
| Amount OF deficit, resulting from failure
| to collect tax OF previous years ''''''.' i'"'
| Total amount of interest due aud to ac-
| crue ON Couaty indebtedness to Janu-
ary 1-t, -, AZ above stated So, -
ON the valuation OF the county for 1875
S2,4l6,7lj, it was estimated that the rate
of 81 20 LEVIED by auditor would produce
gross on tax books $40 1000, and (makin.
only the usual allowance of 10 per cent
for ATTACHMENTS. forieitures, &c.,) net /,
State treasury about S25,0OO.
Amount required for interest on city oil 40 81,
Amount of deficit, resulting from failure
To collect tax Of previous years ......''''' ."
--
Total amount Of interest, due and to ac-
crue on city Indebtedness TO Janu'Fy
LIST, ~, as above stated .............. 81 va
On the valuation OF the city for TN
year 1875, 81 SCI ,034, it was estimate
that the rate of Sl.2j levied by Audito
would produce gross Oh tax books S23
337, and net to State treasury about 81
900.
For more full understanding of tn
history of the case, and to show the car
taken by me to verify the data on whic
the levies were made, transmit her'
with copies of my correspondence wit
the county cleik of Alexander county
Very respectfully,
C,E. LIppINCorr, Auditor L. \.