Los Angeles herald., 1891-08-30

The total assessment rolls after all
corrections made by the board Of equal
ization amounts to SAL, ,953, ,704. Included
in this is the assessment against certain
banks, which was placed upon the rolls
by order of the board of equalization
amounting to $303, 1856.
Suits have already been commenced
by these banks to enjoin the city from
collecting the taxes on said assessments
and in view that possibility exists
that this tax may never be collected,
we have deemed it advisable to deduct
that amount from the total assessment
rolls before calculating the levy. The
net assessment therefore amounts to
$45, 5,65O,118. In the calculation for the
interest and sinking funds we have
taken precaution to deduct per cent.
from the assessment rolls amounting to
$2,282, sos to avoid all doubles and i'm
proper assessments, and the levy for the
sinking funds is therefore calculated
upon q basis OF $43 1857 ,6l3.
You will observe in the foregoing
statement that the total levy for the
interest," and sinking funds amounts to
1853 cents. which is In addition or ex-
elusive of the charter provision fixing
the levy not to exceed 81.
The rate for the funds of the city other
than the sinking fund, amounts to 82.42
cents, being very considerably within
the charter limit of $1.00.
In the calculation for the sinking
funds, the sum of $2l, 900 has been
placed in the general improvement bond
interest and sinking fund for the pur-
pose of paying off a certain proportion
of bonds of that denomination.
We have endeavOred to place in the
several funds about an equal amount
with that expended during the year
just closed, as we have no reason to 6p-
prehend that the expenses of the pres
ent year will be in excess of the last.
In the fire department fund, in addi-
tion to the amount necessary to run the
department successfully, we have set
aside the snm of $4,000 intended to be
used for the purchase of two chemical
engines-four horses, harness and house
rent in which to keep them.
In the matter of the allowance OF the
apportionment to the common school
fund to be used to assist the mainte-
nance of the public schools, we have
-apportioned the sum of about $47 900,
which, while not so large an amount as
asked for by the board of education, we
deem sufficient sum, together with
that which will be received from the
state and county to carry the schools
through nine months successful opera
tion. aas,sa @
In addition to the $4,000 which has
been allotted to the library, it must be
ther sum of $500 is annually expended
in the maintenance of the elevator,
which is run exclusively for the benefit
of the library, go that in reality the
library receives from the city funds this
year about $4,000.
TO the park fund we have set aside
$S6,5OO, and it is understood that the
distribution of this fund is to be as fol-
ows: 7t
To the West Lake park, $l1 900; East
Los Angeles park, $11 600; Sixth-street
park, City Hall park, Prospect park,
Elysian park and the Plaza, $500; Res
ervoir No. A park, 5000; Hollenbeck
and Workman park, $4,000.
It being further understood, in the
matter Of this latter part, that the
grantors deed the property to the city
without conditions, except that the
park commissioners or the city council
shall expend not less than $4,000 per
year for two consecutive years in inn
proving the property donated for park
purposes by Mrs. Hollenbeck, and Mr..
Workman.
The 5000 placed in the bridge fund is
for the maintenance of the bridges, not
for the construction Of new ones, and
the city hall fund is created for the pur-
pose of placing in the city hall q. steam
heating apparatus.
We believe this tax levy to be sufi-
cient and ample to provide for the wants
of the city during the present year, and
respectfully recommend that this ordi-
nance be adopted.
rur TENNIS Mrrr