, 1877-04-15

| second-The amount of certificates Of indebted.
ness outstanding, and the rate Of interest on the
same?
The amount Of certificates Of Indebtedness ont.
standing and payable out Of the general levy now
in process of collection, il S46, 39. IL all bearing
per cent interest, and payable on the LIST days o
September, October, November, and December,
1AiTd-The amount Of outstanding orders upon
the Treasurer unpaidy
The amount of outstanding or unpaid warrants
On the Treasurer is, upon the General iase funds,
S5, aSs "; and upon the Special Assessment funds,
lected, ST. rs. e. df this last amount upwards
of 50. 900 Is for the construction OF Drexel and
lakewood avenue sewcrs.
fc"1fA-A statement OF the othes liabilities coz
tracted and subject to be paid?
tsone that know OF, except current expenses
occurring from day 10 day.
usccrta1ned.
The amount of unpaid taxes, as appears by the
Collectors warrants, are on general warrants
S191, 9S5. o.. From the best Information at hand,
il seems that by fur the greater part Of the
mentioned back taxes are due from the owners Of
properly in the south half OF the village.
'Sls1h~-Thc amount Of bonds cancelled or subject
to os cancelled with funds prorided in a sinking
fund for that pur !osc, and aa provided By the law
and ordinance authorizing the issue Of said bonds!
OF The bonds Issued a'ld disposed Of there have
issns OF Sept. 6, 1873, is bonds; OF the issue Of
March y, 1871, OS bonds; total sc bonds.
These bonds were called in, aud were redeemed
OF A!arch Is, ls75,-bund for tond.
Two other issues Of buuis were authorized, come
three years u.o, one issue for 80, 600 aud the
other for 81. odo. These bonds were never dis
posed OF. and were Cancelled, and are now i'll the
possession Of the village. but OF coarxe worthless
There was slso au issue Of - 81, 000 bonds
beaslng 10 pcr cent interest," made aug. u.
1871, and payable with interest Jan. J., 1875.
These were raid at maturity and cancelled In my
presence, anti by the surrendered to the Board Of
Trustees ut the Iiil=ge Hall.
Ali OF The Outstanding oonds are subject to re-
tircment By puccnase with money arising from the
when collected. No bonos ;Mve has Jet been SO
retired for the following reasons: These bonds
have Interest coupons attached. payable semi-an-
nuaiiy, which must OF course be paid when due.
interest and sinking fund.- abuut one and one-haN
years after such levy is made 30 that three and
in one instance four+-iustallmcnts Of interest had
to be paid before anything had been received to the
credit Of that fund
u course there wns no way to pay tue interest as
IT became due hut to make temporary arrangements
for the money 10 TO it with, and reimburse the
parties from tie first money received from the lew
for the interest and sinking fund.
Then, Too, the levy made for the interest mud sink
ing fund is mace for the exact nuount needed ns
qu'red by law. This is all right In theory but, in
punt uf fact 35 per cent thereof ~ not collected,
Tue property thus delinquent being forfeited to the
state. und tue tax carried toward to the next year.
Eventually the greater part OF these taxes will be
dlt,on to commence the purchase Of the bonds. In
no instance has dollar OF the money belonging to
ths 1ntercst and sinking fund oeen diverted there
from. Or nscd for any other purpose whateter.
Of your document. '.That this reply be furnished
In time iop examination previous 10 The election
OF Trustees. " leaves me In doubt Us to wbe,l,cr
this viii reach you in time i hope TINT it viii.
suo tnat toe information ls rs full US your lisire
JoHS r. EENsLEr.
President Board Of Trustees, Hyue Patl.