The Waco daily examiner. [volume] (Waco, Tex.) 187?-1888, 1885-04-17

Council met in scmi-monthly scs-
sion, his Honor, Mayor Wilkes IN the
chair. Present, Aldermen Alcxan-
der, Wood, Tibbs, Order, Smith
Spcight, Stephenson, Mobley, Eyerley
Secretary Briukerhof. Marshal Moore
and Attorney Blair.
After reading the minutes of prcvi-
Gus meeting Mayor Wilkes delivered
tins
INAUGURAL Address.
Gentlemen Of the City Council
In accordance with an established
precedent IL becomes my duty at this
time to submit an inaugural message
to your honorable body. Allow me
to say at the outset that | have full
confidence in your Willingness TO
strike hands with me in compact to
work honestly and faithfully together
in advancing the best interests and
greatest good of the city of Waco,
and as an intelligent body of repre-
sentative men, fresh from the people.
aud 'ognihant of their wishes, no
doubt you will be fully able to crap.
pie with ali municipal questions de.
handing attention, and especially
that of finances that seems Just now
in such an unsettled aud disturbed
condition. Relieving in the old fash
Toned idea of paying debts and dis
dnining to attempt by bubble or lcga
technically to avoid such payments
the council which p. cccdcd You order
ed the issuance oftwenty one thousan,
dollar bonds, to liquidatc the past in
debieducss OF the city. In the nego
tie Oh and sale of these bonds w
have been iorestallcd aud check mat
cd by the deliberate act of some o
our own citizens.
II would now hardly be wise o
polite to issue these bonds. Ms In
doubt thrown upon their legality. an,
the injury done TO the credit of tn
city, would dcprcciate them beloy
any figure which we could accept
Unless the creditors of the city ar
willing to accept these bonds in pay
ment OF amounts due them, II woul,
be better to comtcrmand their issu
ancc. Since the late report of In
city secretary the Indebtedness of tn
city has been materially reduced, nu,
Is now about $4,000. Ofthis amour
about six thousand dollars is du
the Waco water company and abOu
5000 is due the Gas company. Per
haps II satisfactory adjustment o
these debts can be made by sellin,
these companies sufficient numbc
of the bonds already ordered; or, fail
ing in this, allow such u rate Of inter
est us the charter will justify, and lie
this Indebtedness go on until IL cal
be paid. y small portion of our III
debtedncss is for borrowed money
ard on accepted orders given to oh
tain extensions, and these liabilitie
should be promptly met with til
moneys now at our disposal. If tn
council in their wisdom should thin
best, the receipts for fines and license
heretofore set aside for street funI
might be dedicated to the payment c
past Indebtedness, and $1,000
in bonds issued for suriaC
drainage and street improvements; bu
perhaps the credit of the city Is so Sc
riously impaired as TO render This in
polite at present. The recent counci
whose labors have lust closed, ca
have the satisfaction of knowing thu
they made an honorable attempt {
pay past Indebtedness, and il remain
now for the present able finance con
mittcc to formulate "A plan that wi
by the endorsement of this body r,
licve lis of surrounding financial din
culties, and doubtless the preseI
council will act promptly upo
their suggestions.
In this connection allow me to sua
gcst that the settlement made wit
tho Waco water company, in Angus
last, in which 1t was agreed TO pay |
per cent upon certain claims held b
said company against the city, wi
have to be revised, rs the counc
was not then apprised that thi
agreement was contrary to the tern
oi the general charter adopted b" III
city in June, 1884. II is recommends
that the finance committee be instruc
ed to at once confer with both I'll
water and gas companies and try
make some satisfactory adj iustmcnt (
their claims against the city. Tho'
claims now comprise more than tw'
thirds of the City's indebtedness, GU
side of school aud railroad bon
debts.
TAXEs.
The subject of taxation is left ei
tirely 10 the discretion of the imam
committee to make proper rocomme
dations, with the one suggestion tina
under the present financial pressur
the annual tax levied by the ci
should not be increased above OF
and one-fourth per cent for the col
iuU wear.