The south Kentuckian. [volume] (Hopkinsville, Ky.) 1879-1883, 1879-11-04

year, but knowing them to be pru-
dent business men, think | car safe
ly say they will leave the treasury in
as good condition as they found 1t.
Seven years ago the bonded debt
OF the city was $4,000. II is now re-
duccd to only $25,0O0 with the annu-
al average of the property tax al less
than $l.30 on the 800 during the
time of its reduction.
The city council this year has
placed the tax on property at $l.0O on
the 500, which is intended to cover
all the expenses and disbursements
of every kind by the city. but no pro-
vision is made for a Sinking Fund for
the outstanding bonds. To this $1.OO
property tax we must add the usual
poll tax and the various licenses as
forming part Of the ihcofiie Of the
city. l.e7 ysp
The council this year has spent
larger sum than usual In street clean-
ing aud sanitary measures. and very
properly too. The Improvements at
the new Cemetry,, the purchase of ad-
ditional ground there, the purchase
aud putting up of The street lamps,
and the expenses and damages con-
nectcd with the Pclton lawsuit, are
all items of extra expenditure, aud
should not be counted as part of the
expense account of the city, because
they do not come up annually. The
amount paid out this year for these
items of extra expenditure, l am in
formed, amounts to over SO, 200, from
which / infer. the income OF The city
| this year is, about $4,000 In excess Of
| the usual current annual expense &C.
lcount, and if we establish these Pub.
| lie Schools we will surely have al
increase OF population and wealth
which will give a larger surplus with
the same rate of taxation, rs--et q
IL the city council will take $1,000
of this surplus and put it with the
$l,750 now paid as interest on $4,000
7c. bonds they will have the SUN of
S3,35O, which if applied to the rcduc.
tion of the principal and interest OF
the bonds will pay off the whole
amount before they are due, which is
eleven years hence. The remaining
81 400 of this surplus they should use
10 pay the interest on the school
bonds during the eleven years in
which they are redeeming the street
Improvement bonds. aud after that
time apply the whole amount to the
redemption of the school bonds
J which would be amply sufficient ia
redeem them before they are due
$4,000 paid annually on a $20,O0
per cent. debt will pay it off in about
9k years. $1,000 applied in the
same way to .thc same debt would
pay it off in about II years. .
= So you see, gentlemen, upon thi'
basis it is possible for the cit,
council to pay off in full 6otl
:, the street improvement bonds and th
}. school bonds by the time they are du
!. without increasing the present rat
of taxation. ta5rt-s ....y
IS If the Public Schools are establish
R. ed they must be maintained by take
collected for thai purpose and th
!. highest rate now allowed by law 70
y that purpose Is So cents on the on
S hundred dollars, but in considering
II this point we must keep in mind I'll
y fact that their establishment will re
l. suit in a saving OF at least ten thou
} snnd dollars annually in reduced cos
r of educating the children of the cit!
r OF this there Is no fOof1 for doub
% and in addition 10 this large annu,
IS of saving, the graded schools are be-
Ie ter than the ungraded ones can poss
IS bly, be made.
,e The city council has a wide rang
z of discretion in the redemption Q
K these school bonds. Should the d
d rect tax plan sentiment prevail in th
/. council they can levy the highest rat
4 of annual tax authorized by lawwhic
ic whole ofthe Jail aud Courthouse te
ic per cent. bondst gIlriEi Fqa
y. Amounting tos.....,i.s.,.. S $500
d aud interest on the same
n which is estimated at .fr5
H. years, Ia, say, y,..........,.9 1851
0. Interest on 100000 for 7s4jusII
lbs years, q 7c cis...,...... $500
n And redeemed 7c to the .a
H. .i amount Of. f............. l6,W
Y. ----
Id Making. :. .....!a-G...,,. $l95,6(
ge as the amount paid ny this county
ty the last seven years on the princip
rk and interest of her bonded debt. I
nd this sum about ten or twelve tho
" sand dollars were received fro
o. sources other than taxes collect(
er. during this time, viz; Sale Of Raj
ng road stock, Sinking Fund colccte
lie by suit &C., leaving about $4,000
is which sum divided by 7, makes abo
ny $4,000 as the annual average su
cir paid by Christian county as princlp
ds and interest OH her bonded debt du
ate ingthe last seven years. And all of
yht done with the property tax averagil
only about 97 cts. during the sew
ey years.
he The county debt now is $lS5,0(
zen 7c. bonds. Wenow. pay annual int
by est ON this SlS500Ol g d7cr..I2'9
os- Now add to 1t. ...,......... 90
nj -
i'd Making the sum of....J....& $lS,5
as Now IL we apply the sum of 81
nre 500 annually to The payment of
yer principal and interest of the 1880
is 7c. county II. r. bonds, we will ha
The the whole debt paid off in about
our years, which is before any of tn,
ats, fall due.
ITO Reckoning upon the basis of t
di- statement and our present populati
ub- and wealth, we may reasonably
pect lower taxes in the future; {
nty about so cents on the 500,
to should our population continue to
Use crease, the rate OF taxation will
on, still further reduced. The tax Q
ted lected this year by the Sherilfis
25,- portioned thus;
,ds For State purposes. ............
liz, liz, For county purposes. ..........
NJ, For Sinking Fund purposesI...
',a, =. For interest on II. Il. bonds. :.
Sou Sou Making on the $780,, ..........
"S, ,ho and the usual poll tax. S." ~
VA ,o,S The amount provided for above
;v,a ;,., Sinking Fund aud Interest purpt
| q ~ II. l.. I.