The daily Cairo bulletin. (Cairo, Ill.) 1878-1???, 1878-06-04

limit, If the right is reserved to the conn
ty TO pay of the principal Of the new bonds
al any time, the county authorities will thus
he at once placed IN position to enter into
new negotiations 10y which a pcstponement
Of the payment of all the principal Of the
county indebtedness could he obtained, il
desired, leaving the interest alone upon the
new bonds 10 he provided for at present,
In reference to the new bonds to he issu.
ed by the city, It will be observed that, if the
valuation Of property for thepurposcs oftaS-
tioH, is not advanced over the assessment OF
1877, il will require the payment of the full
amount Of $4,000 each year for about ID
years 10 reduce the amount of the city's in.
debtedness below the constitutional limit,
But it is believed that 10y the influence of
the adjustment of the ciV's heavy indcbt-
cdness, under the adoption of the proposed
funding arrangement, and the effect of the
return in general Of the country to pros
perity, the valuation of property for taNa-
ton can he greatly increased, and hy ar
rangcmcnts which will appear in subsc-
Quent portion of this report, the city will
he able TO pay off a considerably larger
portion of the principal of the new bonds
than is now contemplated and that the re-
duction of the city's Indebtedness below
the constitutional limit will thus he reached
in much shorter time than specified above
and probably in 6 or eight years, When that
limit is again reached the city authorities
will be in condition 10 make new arrange
monts for the liquidation of its indebtedness
and the adjustment Of It's financial embar.
easements.
In reference TO the ability of Taxpayers
to meet the obligations which will lie i'm
posed 10y the adoption of the funding ar
rangement and the issue Of new bonds, il is
to be observed that the current taxes levied
for the last year for all purposes, oX-
cepting railroad interest tax and city taxes.
hut including State, county, paupcr and
school taxes, are 80 low being for the year
1877 but $31,2j0 IS, that it is believed
they cannot he any tuther reduced, but at
the same time il is not probable that they
will be increased.
Taking the assessment Of 1877 therefore
as basis of calculation for the probable
amount of taxes To be levied hereafter for
all purposes, excepting city taxes, We find
that in addition to the amount above spcci-
fed of $3.50 S.
There will have to be paid for each year
for four years taxes for interest on
new b0nds............... ,."",....,.. t''NW
Making for taxcs OF every description bu,
city ,sIcs. atc,sl amour, of.............. AIn.s5
To be paid each year for four years Is the
funding arrangement !. adopted and that
in addition to the same amount off,. 37,s50sj
There will have TO he paid thereafter for
each year for la', years ,aXes for prirCi.
pal aud interest on new bonds. II 2tO0g
Making for taxes of every description cS.
ccpt city taxes total amount Oi....... isjNr,sj
To be paid each year for 1915 years, after
the expiration of the years above stated.
The general tax levy for city purposes for
year 1873, amounts to $30,j,j 40.
Among the items contained in the gene
raj appropriation bill for city purposes for
the same year are the following sums, which
will be dropped entirely for ensuing years,
viz;
For IIhcrnan Fire Engine House. i..00
For payment of interest on bOuds,.,...... S,npnu
For Cache River bridge. ,..,.,.,...,..... i.WUr
For payment Of interest bearing warrants GWnOo
Togothcr...."............ .....,,......S N.2iOnO
Your committee think that by some
changes in salaries and by use of the in
mates of the Jail on the streets, and close
attention To the collection Of take, for street
labor, appropriations for salaries, street,
and sidewalks could be reduced and that
thus s., 800 might he saved in addition to
eamounttobcdroppcd, making S25, 80 90
which can thus he saved in city taxes. lcay-
ng but SA,S2j 40 TO he assessed for these
taxes hereafter for each year, for general
purposes, the balance of city expenses to he
derived from licenses, fines, etc., as is now
done, Add to this sum last above specified.
the amount required for the payment Of in.
tcrcst on new bonds, $4,000 90, and the
whole taxes will be but S2l,O2j 80 re-
quircd TO be raised for city purposes for
each year for -four years, and add TO the
same sum Cto be assessed for city purposes
81, $50 40 the sum required to bc paid for
interest and principal on accoun, of new
bonds S21, 900 90, and the whole city taxes
will be but 1871 ,s?j 40, required to he raised
iorlji9 years, aitcrthc expiration of 4 years.
As above set out the State, county and
other taxes exclusive Of city taxes. will he
for four years $4,000 81. Add to these
the city taxes for the same time SCI .O2j 40
and We have an amount Of sGj,O2G 81, AS
the total taxes for every purpose for four
years, and add 10 the State, county and
other taxes, for each year, which will be-. as
before stated, 900 81, the city taxes for
the same time S3l,S2j 40, and we have
$50 1921 ~ nS fine total faxes inr uvnrv ntu,