, 1876-03-22
special, K1oKFT tho wATkR TuNp, tbs scnooh-TAx
FUND, and SPECIAL AAskseNkv1 ruapa.

| frtcfal, K1oKP1 tho wATER TuNp, Tbs scnoot-Ti,
| FUND. and SPECIAL AskssNkN1 fuxpA.
Now, hero waa percmptory prohibition d
law ngalnst .ho ,ae by tho city Of tho money
belonging 10 tho water fund, tho schooi-ta,
fund, or tho special as8essmont funla,-nll o.
Which had largo sums TO their credit in tht
fall Of 1871, as reported Deo. /, 1871, bs
Comptroller TAYLOR to the incoming Mayor
Wsses Ct fnnd from safe Of bonds. c7cdls..s
npnsial assessment fun1s csct............ 4351 161
nsiuewe!1 tnnd credit. dh...::"........."... ts,ts! ,
1teform-8ehoolf fund, ercdlt... 8o.o0o
$50. .331
On tho snmo day, Air. Comptroller GEonoE
TAYLOR reported TINT tho Administration Ind
previously used ef kit money in d!ese SPECIAL
funds tho sum of sl,144,1so. Ho also re-
ported TINT ut tho aan,o time thero WINS Mt,
outstanding noating debt, including $138, TOT
Of tho certificates of indebtedness, nmount-
ing to 9GSG, 707. aomo Of tho itoms, how
ovor, soon after taking tho form Of jnlg-
menss, tho Whole, including tho certificates,
Judgments, unpaid expenses for November,
tho amount duo to tho special funds, mud
somo small items, aggregated 81, ,o85,3o6
This, in point OF fact, was the "lcgacy."
It ia trl1o tho amount Of certificates was only
3lJ8, 707, but tlero had becn $t,144, 1856 H.
legally abstraetod from tho special funds,
which had to be replaced; for that purpose,
mud to restore those bonds, mud TO cover up
tho illegal use Of this large sum Of money,
tho now Administration Ind to issue cortifl-
catos and borrow tho money. There was no
other way. So fnr as tho now AdminiBtrn-
ton was concerned, It 1nado no differ
onco whothor tho previous Administration
had Issued S2,o85,31G Of certificates to rop-
resent its floating debt. or Ind used money
in tho Treasury not legally applicable for TINT
purpose, to avoid tho issuo of such certil-
Gates, tho result wna precisely tho same Tao
unlawfnlly-used money Ind to be put back
where 1t belonged, md Tho Judgments aud
other 1oating debts, including certificates,
Ind to bo paid
Tho incoming Administration in December,
1871, was primarily called upon to put back
into tho Trensury, to tho credit OF tho spocia1
funds, the money illegally drawn md Hpont
by its predecessor. It was also Obliged to
provide for tho existing outstanding certifl-
Gates and 1oating dobt, largo part Of which
was aoon put in tho form Of judgments, tho
whole amounting to nearly SO, ,10o, 900, i'll
dobtedness which 1t had inherited. To do
this 1t had to issue certificates. The balance
Of cash left in tho Treasury by Alr. MAsoa's
Administration was 912o,000, Of which
$4,000 had previously been sot asido by
tho Common Council for tho repair Of tho
Water-Works and extension Of mains, which
reduced tho remnant Of cash to $3.50, 600,
and a1l OF it belonged to special funds, mud
could not be touched for general purposes,
Now lot US rccapitulato. On Doc. /, 1871,
there WINS outstanding from Nlr. Masose
Administration
Certificates Of indebtedness. Ias7o7
a'u1 fmuils, a.a"4s "uu"n 1son slssiA III. I'm
Clan.s roady for Judgment, esc...........- 3is,2A
other eins a!o.i7S
,,,,.,..u..,. ozo- -.
Lcsa cab Ia Trcasusy. ssoooS
F,o,ttn, ,,oh. ovo- c,,h :, ~. ~,
r'o moet th;n raon;rotl tl,o ;sano ~ nv or,,,o1
amount OF CGft1ucAtGH~ IWO TDn1B later, In