, 1877-08-29
THE CONDITION or THE TOWN OF LAKE.

~ lac EoAof OF Ans 1ftoTtns.
CHICAGO, Aug. 29-gunervisor Conllt admits
enough In his communication TO show that the
finances In the Town OF Lake hsvo been badly
managed. It Is universally admitted that TIC
present Board Of Tsl1Atcas Il m improvement
upon anv past one; but the credit Of this Il due
10 tho Chicago presa, and the public discussion
which tho press has provoked. Tho Town Of
Lake has, ever since lts incorporation, been run
by Ring, which hss held III Offices and had jts
contracts. That Ring has been bady frghtcn-
ed, and discussion should be kept up until 1t Is
gloat now, % and the 1a1psycrs' conmitteo
showed where They could be greatly reduced
Ms. Condit failed In hts C. nmunleation TO
state how much he received through ILLS own
salary and pcrlutaitcs. II has been stated that
IN this way be rceelves moro than tue Mayor or
Theirs Is hut llttle difference between hIs state
mcnt AMI thst Of the Committee respecting the
paid Into the Treasury. and that 1t Is not In the
Treasury now. Thu Committee charvcd that
tho money belonging to the Sinking Fund had
been aastracted. he admits thc iact; but pro-
s: 10 hox hoy w. n %,sa or h1 GoE
taxes were aot ali paid, lie did not pro rate With
the money colleeted- lie eould have taken
from the otaceholdera in the saipc proportion
that by took from tho Sinking Fund.
lebtedness of about 5000 QUO to provide for, III
stated At the public meeting that 1t was din
cult 10 tell whit the town did really owe. For-
SOUS quits ua we'll posted ~ Mr. Condtt think
than ttuo, 900. But, admitting. the indebted.
ness ID only &G00, ,0lD, whcre do the Justices
get tho power 70 contruct 70 heavy debt
ID that No town can Euu in debt 10 exceed 5
State hoard: Tho county equalization Of LAKE
this year falls litue short Of QUO, and
per cent on thts Is s:sl2 soo. W. do not know
how much the State Board Will Increase the
valuation. Last year the s,ato B4,ard eaualized
The value At sl0, ,95l $40. SHOULD the stsse
Board place it ut the same this year, the amount
to which the Town Ut Lake Is limited by the
Htate Constitution to contract ! debt u q llttle
own showing, tbs Town of Lake already has
about $lO,0U Of ttleKsD Indebtedness. But
there Is 20 probability that ths Slate Board will
psacu the valuation Of that town Us high a. last
yaar,. Under shl. .tate of things, With it, s:nk.
provide tor it, outstanding indebtedness when
due, or horrox nuotleE dollart
Again, the Town oi Lake IL under = special
Cha5ter. and eau exerrtss no power except that
which ths charter expressly grauia. An c1am-
lnation OF thu charter shows that, among the
enumerated powers of the town, Is not tho POW
cr ta borrow money or contract bonded In
lebteduess. This power not being vested In
the corporation by IT. charter, Whist authority
has It TO contruct debt Ut over &aGnt t00A or any
debt uther than to neetcurrcpt expcnstsf Where
the debt has not the sanction OF law thccausc II
~ out OF thn power Of the town to contract it)
ANY taxpayer can enjoiu the collection Of tax
to pay tue principal aud interest. No doubt
the Couulittee, Ut the next meeting OF the tar-
tAyers, will report what 1t deenls proper to be
luna In reference to this unauthorized debt.
Kerently $4,000 OF the debt OF thu town be-
came due when tho town had exceeded tho con-
st!tuttonai limit ot Indebtedness. As ths town
could not pay thls amount because VI the ab-
struytion ot The Sinking Fund It's only duty " Al
10 say 10 the bondhol,iers .'fou must walt fos
Jour pEtndpa1 or sue tho town" To further
contract Or extend the debt. aud to PROMISE To
pay further Interest, would violate the Conststu-
lion. ANY surh extension U PROMISE would 0s
yoIi. Where the constitutional lilnit ot indebt-
e.lness u exceeded, and . portluu Of the debt
becomes due which III paId} would sts'i leave
al exo.ss of the limitation, tbs town can take
uo other setlou than TO pay the dsbt. Any othes
] act!ou would be rpld. The payment Of further
| interest on this ft0,0N may be snIolrca, aud
whatever has been Illegally paid recovered ~
sur axa,ust tue individuals. Supervisor Condit
has given bond. 70 that, II the ta1paycTs sse
| 6t, they a1e not wholly Without cns4y fox LILY
/ illegal disbursements. TAXPAYER.