The Hickman courier. [volume] (Hickman, Ky.) 1859-current, 1879-12-26

( balance to meet current PEN
SEES and outstanding checks, So, l29 -
ThestotaI expenses of the city govern
ment for the year, including salaries of
all the officers, commissions on al collect
tions, sanitary regulations, street work.
etc, aggregate a sum total of 3, 225-but
little more than was paid to officers alone
few years back.
This left balance applied
to paying off outstanding
checks the sum of 5000 ~
Making total payment on old
debt this year, S6.l4S %
Leaving outstanding checks, 1900 90
Unfunded bonds, 1000 90
Funded bonds, 20 2S4 90
Total Indebtedness of every
kind, So, 1884 90
| have not included the river bank
bonds, of which there is outstanding
about 81 900 as the city is not required
to pay these. except in taking them for
taxes on the property for whose river
front they were issued. They have, how
ever, materially crippled the resources
of the city for number of years, as we
were deprived of the revenue from some
of the most valuable property in the city
Tue Millet block was released this year
as the tax took up the last bond against
that property. Next year the tax on the
Robinson block will take up the last bond
against it, and the year following, the
Amberg block; which will leave only
one hundred dollars revenue to be taken
up by that class of bonds each year, in
stead of three hundred and seventy dol
lars, as heretofore.
During the yearwe cousummated a new
contract with the Nashville, Chattan oogs
and St. Louis Rail Road company; by
which, said company cedes TO the city,
ground for public wharf-150 feet wide;
restore TO the city all wharfage fund on
hand, amounting to 1914 00-snd all
future right of Wharfage, and1is to de-
liver, when called upon, one hundred car
loads of rock, 10 be used by the city in
constructing = wharf; and the rail road is
to I'LL up and grade the deep wash above
the wharf.
We have now cash on hand as a wharfage
fund, eieVeH hundred and siIty eight dollars,
TO be used in constructing good aud
substantial wharf whenever the river is
in a condition favorable for doing the
work; and all wharfage collected is being
saeredly set apart for that work.
The city has cause to congratulate her
self upon the steady reduction of her in
debtednoss in the last decade of en- years,
Notwithstanding 1.-The fearful ordeal OF
financial depression Thu ough which the
whole country has passed.
Ten years ago our Indebtedness vas
sizty thousand dollars The annual interest
alone required thHty-Siz hundred dollars to
meet it, To-day we only owe heeRty seveH
thousand three hundred and eighty four dollars
The payment of al annual sum equal to
the annual Interest ten years ago, for the
next ten years, will discharge our entire
debt and all RccruinS interest.
Under the funding contract, made Sep
TENDER IA, 1871, no part of the principal
of the funded bonds were payable until
September Il, 1874. since which time the
interest on the entire funded debt has
been paid annually, and -, l07 of the
principal each year.
The funded bonds originally
issued were, SAT ,926 90
This year pays the sixth in
stallment, 1858 90
Leaving yet outstanding, SO, ZS4 90
At the time of the funding there were
left outstanding, unfunded, $4,000.
This class of bonds have been reduced to
81 900, in addition to which we have
taken in upwards of two thousand dollars
river bank bonds. During the past eight
years we have paid aa average of tiUe
thousand taoo hundred and my dollars each
year upon the bonded debt alone, paid all
the expenses of the city government,
done more permanent street improve
ment than had ever been previously done
in the city.
An annual payment of q like sum for
six years, or an annual payment of four
thousand dollars on the bonded debt for
eight years will zee us from debt and
taxation. Respectfully,