Fort Worth daily gazette. (Fort Worth, Tex.) 1882-1891, 1889-08-21


whole matter was reCommitted to the
finance. committee. who Immediately had
q conference. with the board of equaliZa-
ton and it was mutually agreed that the
board of equalization would compIySSlth
the law by placing property 1T its true
market value, . the hnance com
mittee stating thRt- corresponding re-
duction in the tax rate shouLds-be made
for the year 1889 SO that the anlSupt OF
taxes maid by the cltizeaAs would notsbe
greater than for the yeaF%S6 The board
of equalization have been at YORK for
more than a month, and their labOrs
will possibly not be completed before the
first or the middle of September.
It is with regret that the finance COM
mittee notes growing restlessness on
the part Of some of the. aldermen for the
issuancs.of bQEAS..-fzS Testiessness which
has induced them Is submit to newspaper
interviews rejecting on the ability of the
finance committee and at the same time
showing their own iueXcusable ignorance
of the laws governing the issuance Of
bonds. When the finance committee,
through its chairman, at our last regular
meeting stated that 1t had no report to
make on the bond issue for the reason
that the board of equalization was not
through with their work, il presumed on
the intelligence of those aldermen who
have vainlv attempted to reflect on the
ability of the committee, and deemed 1t
unnecessary to explain that the first es-
sentlal requisite to be embraced in an
ordinance for the issuance Of bonds IS the
amount of the assessable values of the
city which the assessor cannot at shis
time give. The next essential requisite
is that the ordinance for a levy for the
i hp haT
Of wears that the bonds are to run. The
provisions Of the city charter, sections
80 and 81. page q:
Section so 1t shall be the duty Of the
mayor, whenever any bond or bonds are
issued, to forward the same to the comp
trcller Of public accounts of the state,
whose duty it shall be to register said
bond OF bonds in a book kept for that
purpose, and TO indorse on each bond so
registered his certificate Of registration,
ana to give, AT the request Of the mayor,
his certificate certifying TO the amount
of bonds SO registered in mis- office up TO
date.
Section 81. It shall be the duty of the
mayor at the time of forwarding any Of
said bonds for registration to furnish the
comptroller with statement of the
value of all taxable property, real and
meut Of the amount of tax levied for the
payment Of interest and to create a sink
ing fund. Ii Is hereby made the duty Of
the comptroller to see that q tax is levied
and collected by the city suffciegJ.tO pay
the interest semi-aunuRlly on all bonds
issued and to create Il sinking fund Sufli
cleut to pay the said bonds at maturity -
In view Of the fact that the city as
SCISSOR has not vet reported to the finance
committee the assessed valuation Of the
city property for the year.lSS9, ana also
in view of the foTpgOiRg-pTovis Of the /
city charter, WIFI tIl6 honorable gentle /
men who nave criticised the finance COM /
mittee, using the city newspapers as /
medium tell US how the bonds needed can /
now be issuel?~ So faC as the members /
Of the finance committee are concerned, |
they viii not stuitify themselves by max :
Ing a report for the issuance OF bonds IN /
til the city assessor can report to us the /
amount Of the assessible values for the /
yearI60g. Respectfully submitted, /
WI. BAILEY, Chm.
j T. CLEMENTS.
The report was received and filed.
Mr. jones Of the finance committee /
made tie following minority report:
Believing the true policy in regard to
city finances to consist in the payment OF
the home or floating Indebtedness of the
city, followed by a strictly economical
in all departments of the
city, therefore be it
Resolved, by the city council of the
city Of Fort Worth, that steps be st once
taken to authorize the mayor and city
secretary 10 have the bonds Of the city TO
the amount of $40, 0OO issued and placed
on the market, and to be applied to the
payment of the floating debts of the city,
and thht the city attorney be authorized
and requested TO prepare the necessary
ordinance, to he presented at the next
regular meeting. JESSE JONES.
The report was received and filed.
The ordinance heretofore presented
creating the Office OF city auditor and de-
huug his duties, coming up on a third
reading, was read and considered.
Mr.. Trippett moved that the salary
limit for the auditor be fixed at $500 a
year instead OF $500 as III the ordinance.
MIR Dagsett thought the proper thing
was to pay a good salary and get a good
man. !
Mr.. Mes was of the same opinion, to
which be spoke.
The amendment was lost.
Tae 0rdnanpe was amended so as to
gO1fQTm 20 the requirements or the char
ter tia 'regard-to the term OF Office
DuringQz nun in theg proceedings just
here Mr. Nicks aroseE to a question Of
in regard to the report of the
finance committee. lie said he was one
IF those VINO had been interviewed. and
le had not reflected on anybody. in this
be differed from tine finance committee,
who in their report reflected very ;
severely on those aldermen who had |,
,ocu quoted in the press. Ills remarks
Fere good-humored, though slightly
sarcastic
wow. - said Mr.. Bailey, throwing
his eve dcfauuy around, when Mr..
Nigk> had resumed his seat, els there |
iuyco8y else who wants to rise to a Ques-
Ioa Of privilege? ] would like TO hear
what he has to say before l get up. -
Nobody accepted the challenge and !
NJ Bailey arose to his feet. Hei read {
rom the Evening Mali an Interview with
AldeRneLfs .Niclls ana Fry, and then
yaFzed oBt 1910 a loud toned speech in ;
es6rd tQ3 theSHuancial situation. Sir. I
3ailey 5 FemarEs, slough well tempered,
we're very likely and were highly en-
owed nv those W hose wifhpTS were nm