Clarksville weekly chronicle. (Clarksville, Tenn.) 1873-1890, 1878-02-23

Actual bonded indebtedness .Sl29,7ll %
The statement rendered by the
City Treasurer places this debt at
$147 1913 II. This apparent discrep-
ancy is accounted for in the follow
ing manner: FOrmany years there
have been items, merely book ac-
counts, debited to this account, which
have been settled either by COM
promises or lawsuits, which are,
therefore, no part or parcel of the
bonded debt. The amount of $10,-
0S8 46, entered as bridge bonds, has
no existence but upon the treasurer's
books, as all bonds issued by the
city for the new bridge have been
redeemed, except a large portion
held by the estate of J. G. Horn
berger, for which a deed of trust
Onthe bridge and judgments against
the city in the Circuit Court are on
record. Other items, long since set
tied by the city, have been included
in this bonded debt. The City
Treasurer has, on sundry occasions,
suggested ~ former boards the pro-
priety of making such entries on his
books as would show up this class of
indebtedness in its true light. Your
committee has, therefore, instructed
the City Treasurer to make the
proper credits and debts, which will
leave the bonded Indebtedness as
above stated, $129,711 %.
THE BRIDGE BOND DEBT,
as above stated, has no existence,
except in the shape of judgments.
Three judgments were obtained
against the city by Gen. j. G. Horn
berger, dated as follows:
January y, 1856, with costs...........s $3.50 81
August 30, 1866 with costs................ % 90
January %, 1862 with cOsts..........--. 7,796 30
Total amount of judgments.........sl4,76l OIL
After a careful computation of the
interest and partial payments on
this debt, your committee find that
the balance due to February l, 1873,
on these judgments, is as follows:
on first JOY As
On second Judgment (the costs only ID 20
Balance u
This bridge debt is not Iegiti-
mately debt of the city. All
money collected for tolls is applied,
after paying the Bridge Keepers
salary and the items of repairs, &C.,
and insurance on the bridge, to
the judgments held by
the Hornberger estate.
OUTSTANDING INDEBI EDNEss.
Your committee has classed, I'M
der this head, all outstanding war
rants, past due coupons, judgments,
claims and notes for borrowed money
that have come within its knowl-
edge:
Outstanding warrants issued prior
TO Feb /, 1854 81
I
j, ZuEZ w
Coupons due Jan. l, lS7S................. 5000 90
Which a mandamus is threatened 2,I7S Oh
ance ,.,.,..,.... 422 90
department. $50 . 49, 1888 90
Note in hank due March, lS7S.-...... 5000 90
Total outstanding Indebtedness,
as far as aScertained ....-.-....Sl0,Ol9 61
The above amount is now all due,
with the exception of the note in
bank for $4,000.
These debts are being pressed
against the city, some Of which have
been running for several years, with
the collection of taxes postponed by
the last Legislature until midsum-
mer. On part of this debt mG1-
ddD1us has been petitioned for, but
for the present is withdrawn by
counsel representing the creditors.
The amount of past due coupons, as
set forth in this statement, does not,
in the opinion of your committee,
tNlllDll Tic tIltC tlAtOlt1J VI SuSll III
debtedness, but is correct, as stated,
so far as your committee has been
able to gather the facts from the
facilities at hand, and the time al
lowed for making this report. Your
committee would earnestly recon-
mend that notice be served, through
the city papers, to all parties hold
ing claims against the city for any
of this class of Indebtedness to file a
memorandum of the same with the
Mayor at their earliest convenience,
in order that the true outstanding
Indebtedness of the city may be OBJ
tanned.
THE SINKING FUND
The ordinance passed by the Board
L /