The Helena independent. [volume] (Helena, Mont.) 1875-1943, 1890-12-17

natural sequence, purchase land, establish
series OF parks around our city and with
complete system Of boulevards make this
CITY OF ours such beautiful spot that in
sands Will come to us to drink in the life
giving atmosphere and the pleasure and
beauties OF our landscape. We must estab-
iish permanent grades for streets at once;
we must establish the width of sidewalks
and require that they be constructed Of
some material other than wood; We must
pavements, and in a word first-class city.
money is required and will be required in
large quantities. The financial policy prop
erly grounded. We need entertain no fear
ior the permanency of our present su-
premacy.
bonded indebtedness of cities to 8 per cent.
OF the county's assessment of the city. Our
assessment for 1880 being 10000, coo. the
net limit to which we are allowed to 90 is
$6oO,OO with present bonded debt of
1900 We still have the power to issue
bonds to the extent Of $4,000. call up
on you to decide now whether You will con-
time to issue warrante. which issue 10
against the law and is financial crime
crime not only because violently opposed
TO law but because We can realize but 80 to So
per cent.of their face value and pay in addi-
ton per cent. interest per annum, making a
total tariff of from II to IL per cent. per
nrst instance be legal following that, will
sell at premium and bear interest at the
rate of but or 5 per cent. Decide between
illegal warrants that fall due any time
within II months to be assumed or
retired with funds derived from the yearly
tax. which tax is paid with money worth to
any of us IL per cent, and, remember these
warrants were and are issued for perma-
nent improvements. the life of which is to
be enjoyed by an increase of 100 per cent.
new population that will not pay one cent
towards the payment Of such improvement.
Illegal II per cent. warrants payable in
twelve months with II per cent. money,
that are the synonym for ''pay as you 90
and no progress" Decide, say, between
these financial neutrality-suspicious. in the
wake of bad management. and the issue of
five per cent. bonds that will strengthen
our credit abroad and at home. will scatter
the burden of taxation among the bene6c-
iaries Of such issue and will enable us to
build up a city that will be standing and
lasting invitation to capital to make its
permanent home among US and in turn in
fiuence other capital our way.
strongly recommend to your honorable
body that an election be held as soon as al
lowable by law for the purpose of author
izing the issue of bonds to the full limit al
lowed by the constitution, issue sufficient
amount to retire all outstanding warrants
in excess of $10O, 600, the last stated amount
to be retired with funds derived from the
current years taxes and hereafter issue
bonds bearing five per :cent in quantities
as demanded by the public wealth, instead
of selling illegal IL per cent warrants pay
able in IL months with IL per cent money;
then create a sinking fund for all bonded
Indebtedness, that will be ample to retire
said bonds at maturity.
Respectfully submitted,
DONALD BRADFORD, Mayor.
The message was referred to the COM
mittee on taxes and licenses, after which
the council adjourned.