The Rock Island Argus. (Rock Island, Ill.) 1877-1885, 1882-04-19
THE TAX LEVY

of the past year was unusually high, but we
could not, with the necessity upon us of
providing for the repayment of money Dor
rowed under the emergency clause, and
carrying on the Indispensable municipal i'm
provements, make it any less. 1t was an
exceptional levy. and grew out of the extra
ordinary expenses attending the flood, the
necessity of protecting the slough region
from future overflow, the rebuilding of the
bridge at Rock river and the requireme Mt
of larger and more powerful machinery at
the new water works. The city finances
are now in healthy condition, and with
prudence and economy in legislation and
q lmin stration, material reduction in tax
alton is possible.
The waterworks bonds amounting to
$25, 900 which matured in February, have
been successfully refunded in accordance
with the vote of the people, and the inter-
est reduced from to per cent, direct
saving to the city Of $3.50 year. No fur
Their reduction in this line is possible until
1887, when $50 900 of 8 per cent. and
$35, 900 of 10 per cent. bonds become due.
If they shall at that time be refunded at
the present advantageous rate further an
nual saving of 81 $50 will be effected The
greatest burden to our municipal tax-pay-
ers has been the interest on the public debt
and future legislation should be so shaped
as to gradually reduce the principal as well
as the interest. Thanks to the munificent
donation of Mr.. p. L. Cable, who expend-
ed $25, 900 the past year in a new water
works building, inlet pipes and settling
basins, and the judtcious contract entered
into by the city with the Holly Manufacture
ing Company, for new and more powerful
machinery, our waterworks have been
placed on a footing where they can be re
lied upon to annually increase their earn
ings, and ultimately extinguish the debt
incurred on their account. The new ma
chinery cost, with interest computed, a to-
tai of S27, 800 OF this amount we have
to pay So 900 on the 1st of May. Next
year we are required to pro-
vide $4,000. The further annual
payments will be $5,7 in 1884, S., 500
in 1896, and $3.50 in 1886. When these
payments have been made a sinking fund
can be created which will enable the pay
ment from waterworks earnings of the
$25, 600 of bonds which mature in 1891, and
no further refunding after that obligatory
in 1887 will be necessary. We have for
sale the old water works building and the
Worthington pump which together should
bring in So, 900, a sum sufficient to cover
some extraordinary expenses in the lay ing
the overhauling of the old machinery
THE MEASURE
of the greatest economic advantage which
| wish to recommend to your consideration
is the abandonment of the old system of
providing general fund for the improve
ment and extension of streets, and the sub
stitution therefore of the system of special
assessments, as practiced in Chicago, Kan
sas City and other important cities. The
total amount that can be raised by taxation
for current municipal expenditures is two
per cent on the assessed valuation of the
preceding year, and when appropriations
are made to pay other necessary expendi-
lures the sum that remains is wholly mad
equate for the purpose of carrying on a
general system of street improvements.
NY idea is that the street and alley fund
should hereafter be for expenditures in
cleaning and repairing streets, and meet
ing the cost of improvements at the inter
sections of streets which fall to the clty's
share under the special assessment sys
tenn land that hereafter when property
holders desire street improved it should
be done under the law, assessing the cost
against The property benefited, and pay
ing the contractor who does the work
which constitute lien upon
the property, orprecisely the same nature
as other taxes do. With this system in
We may safely reduce the gen
eral street and alley fund for the. present
year to 5000. The main sewer, on Fifth
avenue, should be continued until complet-
ed at general expense. and about $1,000
will be needed for carrying on the work
this year. But with the completion of this
sewer the system of general expenditures
for this class of work should cease, and
all lateral sewers should be constructed
under the special assessment system. A
sewer should be built at the same time that
o street Is graded and macadamized, where
practicable, as great saving in cost to
property holders interested can thereby be
effected. If this recommendation is adopt
ed we can save at least $4,000 on street
and sewer expenditures the current year.
a unfhor mort r,t iJrnorf