The Seattle post-intelligencer. [volume] (Seattle, Wash. Terr. [Wash.]) 1888-1914, 1890-08-24
RATE OF TAXATION.
ne City's Power Of Indebted
ness Curbed.
NINE AND oNe-HALF MILLS



-. msffer If u,ost general interest d;s-
5000 81 tAe meeting of the courr;l IN
,-,,..sse.e ve.ter1av ras the iss,e - 1,r,,,<,s
IS 5,,,d fhe citv,s indebfednexs r;tv A.
foynew sheperd advised the council thst al
1honeh ths law allowed An indebtedness ~
=, - cent rer cent. was ( fnrtbar az
49, ~. hrrond tbe FIRST far the s-,.c;s;r
-..vro.e 81 rownine water-worts sewerage
g evt;f;riaI lin1,tine. The cftv hsd Devoted
- ffrl 81 its first per cent n th.t mr.
-, er,d enid not fake advant.ge ~ the
.sssrs,,,d ( mr. cent or anv nsrf ~ q 4, In
sssr cv rcfsrnd genera indebtedness
mt MISREPRESENTATION Of the at viii be =
eurrrlse % most laymen who have assumed
11ot r ~ ! 10 ner cent indehfedness .nv
rc,fIou a. Il we're devoted to the snecified
puruose up to per cent. ii would not limit
1he cftv's pover 70 exhaust the II, per cent.
SECTION Of the act Of Februarv De-. of
vbich the water bond bill i raid Nv the s,,-
nrcme court 10 be 4 mere amnliacetion.
nrovidex that the power to borrow money
~ veter. artificial light and sewersrs l.
an addition 10 the power granted in the
xr.oef1ins sections. - which eIlr,,r y,.r cent
Ssssss ss s g.. ..,nn;e ~. s.~ -. o.A1
n esr ~ 49,. -. "uc'p -. pulposes
1920. !. 8. -t,s...s-sa.,s.s.-
s 80. s.-.s ~
49, .s's ~ g 'sal u ile
$3.50 I. =. s.ao supsle oou1s ~ailcn 'ail-
o so.. sns ~1.sl Donus az ~ .nae az n I'M ahe
..- .--.x ;xs.s'tss.s... -rs-s,,s
-, ersn - sf,s fssn lsss t,s,, t,s -
S.s5-sa = t.ac.,,,. .-s,5s,,t - .-s-s.-s
Is the decision bat If fba r;tv had mt fore.
-, ~. 1900 &c ,,s,,. ~ 3 80 80.
~ AZ. sv.es.;sl ,,rrncse = had ,e,st ~ a.
~s..te.e - - ,,,,,ch 20 tha sscx,,5 ( -
rerf = ne not then cors,,n,sa a~csr.so.
- ,,z;.;<,, =. ~,
~. r-ss,s. ,;,;s,r = 49, ..s. -
800 vs.- Ill ~ on ,,,iy,s
q ;rsev..t;rr ;,c;ds,t oaor-~.s s,~;nn
az. a;..,,ss,<s., w,.s,, ~. ess,,..,,s - -.s
49, - de,;hsv.s;,,r ,,,s,,. saae.s,,,s u.
- 8 q : oaTs- NE parcr pna,.as s "a. "a
.s~.-.sa e. 49,
Srs~t.-., 800 80. 49, ~ y
e;,..s 80 r. 1880 Ms --;.,.s, -
- s;.s,,s.ss s,-aa..A - 80 !.
pr.,.sst.r 49,, ua-nhlsa = 49, -
~ yr~t a .S A,,nnat Or - fa,,as "
Nm, .,,.d vas ,,..1 49, =, 1910
ro1.
Following this on the uext day was an
other dispatch from the same TO the same !.
Money 10 high we do not care to bid for bonds.
The Republican members were particu-
lariy iubslant over the result of the Demo-
cratic leaders protest.
CRY INDEBTEDNESS.
f,;tv Aftovnev sbenard brouybt mn IN.
matter a tba bonded indehtedness He
..id TIA valuation ~ rronsrtv IN tho city
rculd - s0e s45 ON and after eoualiz.t;on
wonld nrohahlv he sos 101 ooo which would
r,ske az evailshIa indehtednass ~ &, sfs :.
nm =. evrIa;red tbs provis;on os tha
stetrte nnder which indehtadness eonld no
rrovided Tor Ha rronosed that :. sass :.
m had Already neen incurred ieav;n .
sssla n11 ev.il.bie tbs hords sho,',a hs ;s'
..,ai for that amount with that srr, he
.,,o~est~d th.t the folIou;rg ar,ountg ha
r,id. puhlic ecuare slea on. vidsn;ne
F,crt street sa nm. Commerc;aI e. coo.
Recond s1oo0o. snuth Second sii T,o
6or.th Third. $50 600: and the remainder in
payment of part of road fund warrants
outstanding February 1, 1890, and still un-
paid. 500. 900.
This would be the limit of Indebtedness
for this year. and until the property valua.
ton was Increased. OF course. the curren,
exnansee for the wear couId be anticipated
bv warrants. The council must.within five
days Of the adoption of the assessment roll
IN the tar rate. and it would be well to con.
sider both matters at the same time.
Mr.. Hall thought they might safely re-
dxrs,e the tar To q mills for this wear. There
was An increase in valuation of abou,
81 .OO1O0O.
The CITY ATTORNEY said the ordinance
under which the water bonds were issued
stipuIated sneciaI tax of az mills to nav
interest on the bonds. This would realize
s3i .00aD hut only Sal. 100 would be needed
II Vas stated incidentalIv that the amour,
ii the oitv fund after payinc the Der cent
commission for the bond sale was s35. 600.
The CITY attorney was directed To draft
ordi,anres m accord ance with his recon.
,nendat;on. calling an election for the am.
thorization of the bonds The date will he
determined an Monday night.
r,o,~ s~prrr pv-ap.nr
rh. 49,. s,ss.s,. .na..;o,, oo,;, -.
49, a. so.s ~iss I. ~ .onos;,;a,, -
"a r-n.. sas VIC p p.o - p,s., =
A.,s, =. ~ -. s,,,,'.-a 49,
:. ...anSsn.s "a go, snaaahas 49,
800 -, hssh go Tha .t;sf snf,s,ar.
lii - -, tha cnSna. of Ianora S,awsr,
s,,a -,thar cross streets
NJ n Eaufn,an s,n..rsa in favor Of tbs
.s;,,. IT, a.s co &c. -, Ero,,
ss~e.t "a re- had hsss,,,snt Which h.
-,r,,,a loss hv tha chsnga st,,, he was
-;,s;.s. - -, - ~. . Tha oa.rs,s
,,,,.s r. ,,ssa sa,,,a ,i,,,a .nd he NOS f.
s.vc- 80 hsv;r. Il aona now He astsd
ho.s ,,,ng shsv wsre co;n., 70 ws;t before ss
t.h,,sh;rs TIE cr.da
Dr Root said ba was The unfor.pnats
ownsr of = lot IN the corner of lemon
st,eet now fortv.fonr feet hirh and II wa.