The daily gazette., 1876-06-23
SECOND EDITION.
'she Tax Rate for 1870

sBvENTY-FlvE CENTS FOR CITY PURPOSES
AND TWENTY Y-BIGHT CENTS FOR SCHOOL
PURPc 'Es.
At a meeting of the City Council, last
night, Mr.. Pyle presented the following
report from the Finance Committee:
The Finance Committee beg leave to
report that the amount of the appro-
priations for the present year for city
purposes, independent Of the appropri-
alton for public schools is $253, 3,870,50.
The amount of estimated revenues is
$53, 500.
The amount of the city assessment is
$26, sos, 1888.
The amount to be raised by taxation
for city purposes, independent OF public
schools, is $200.370.
Seventy-ive cents on the 500 on this
assessment will amount to $199. .525, Al.
The Committee would further report
| that the amount of the Appropriation for
public schools is $74, 500.
Twenty eight cents on the 800 on the
above assessment would be $74, ,489.48.
Your committee would recommend the
tax rate for the year 1876 to be seventy
five cents on the hundred dollars for city
purposes, and twenty eight cents on tie
hundred dollars for school purposes.
Respectfully submitted.
VIM. McMENAMIN.
| JOHN JONES.
Finance Committe.
Mr.. Febiger opposed the report, be-
cause helcould not see how the rate for
city purposes as cents on the $l0o) could
raise sufficient money. The amount
raised at this rate, would only reach
about $206,0Co, and the appropriations
amount to $253,000. About $l4S,0OO OF
this year 8 taxes have already been spent,
which would leave only $99, 600 to meet
current expresses. The floating debt
amounts to about SIG. 600, and no allow
ance has been made tor the discount on
taxes paid during July. and for the taxes
which cannot be collected. AT this rate
there will soon exist q AoAtiDg debt OF
s3O,C lo, or s40, 1000, which will have to- DE
funded. He was opposed to any further
funding of the floating debt. iaH ~
Mr.. Pyle replied that the differences
between the revenue to be raised BY
taxation, and the appropriations, would
be 5eovafed by the Waterg Department
revenue,l which, had already exceeded
the estimatcd ame eSint $SS V99,, The JIly
discount, he thoaeht MopH he. eanalled
by the premium added to tie taxes paid
after, ,Angnst ,1stI while the ex0ess of the
4 Water Department Ecvernel would eovei
i the error llBb. - ~ 49,, Il, - -, -.ae- .
Mr.. WIN. NJ! canhy ,::moyed, to amend
the report by making the city tax rate
80 cents on $780, instead of 75 cents
Mr.. Febiger seconded the amendment:
Mr.. McMenamin said the idea OF the
Finance Committee was to lay tai
! which would simply meet the expenses
Of the city, and he Thought the tax raised
would be sufficient for this purpose, al
he was certain none of the committed
n would overrun their ppropriations.
Mr.. Paynter referred to the amount @
$19, 900 due the Cool Spring Reservoir
Ifund, which had been stated as beiug ,
jportion OF this veals current eKpenses
: He said his-debt had been incurred by {
previous Council, and he did not thinl
the present Council should be callei
.. lupon toshouldef 10 g g ,i4'a + ep..t'l =.
Il Mr.. Febige said that this debt had t
. be paid, no matter what Council incurre
I it.
Mr.. Canby's amendment was lost by
vote of I2 to6, and the report of tb
: committee'was adopted by ayes and may
as follows;
Il Ayes-Messrs. Bickta, Farrell, Fort
8 Irelan, Jones, Lynch, McMenamin, NJ
Glinchey, McIntire, Pyle, Paynter, Ia,
lor, President Lichtenstein-l4
l. Nays-Messrs. Adams, VIM. Canb
VIM, M. Candy, Downing, Febiger, u
derwood-6.