Burlington weekly free press. [volume] (Burlington, Vt.) 1866-1928, 1892-04-07

us follows:
Ward IL. y. Davis, c. G. Road.
Ward 2--H. II. Davis, II. w. Hall.
Ward 3-Joseph Roberts, Peter Richie
Ward &c. Il. knsley, r. G. Sever
SON.
Ward 5-W. L. Hail. Clarence Hicks.
The clerk administered the oath of Of
fee to tho new members. Alderman
w. L. Hall nominated Alderman
Seversou for president of the
Board, Alderman Kinsey seconded
the nomination and MIR. Severson was
UNANIMOUSLY elected. The rules of the last
board were adopted us tho rules of the pres
ent board. Aldermen W. +. Hall and L.
z. Davis wore appointed committee to
wait Mayor Hnselton and inform him
that the board had organized and ready
TO receive any communication he might de-
sire TO make. The mayor appeared and read
his message which was accel led and ordered
On file.
MAYOR HAsETTCN's MESSAGE.
70 thc Honorable the Board II Aldermen:
Observation-Disclosures the questions which
will during the coming year present them-
selves to US i'll our official capacity can only no
solved as they arise, it is In accordance with
established and authorized usage and may
not be without profit that a brief review OF
our municipal affairs be made at this time.
THE FUNDED DEBT.
The gross bonded debt OF the city is to day
S3o5,OJO. OF this amount S3-O,u0O bears inter-
est at the rate OF four per cent, 100000 of this
debt having been refunded ut that rate during
'9i' The balance of the debt SGj,'Ou bears in
terest at the rate OF SIX per cent, but the last
OF the six per cent bonds will mature in u lit
tie over two years. As those can undoubt9d.
~ he refunded atthe lower rate above men
toned the time is now near when our entire
bonded debt will bear the moderate rate of in
lelest to which the excellent credit OF the city
entities It's securities.
p p@rns he y ys lS9l the sinkng fund vas
proceSds OF the five per cent sinking fund
lax, si99l was the income OF securities
held Oy the SINKING fund and SlG12.64 was the
net premium realized the sale of refuncing
bonds. The amount OF the sinking fund is now
SiOl,ji3t9. The net bonded debt of the city is
bonded debt OF the city for the year has been
Si@ulS.H.
securities arc now held for tho sinking fund
TO the amount of SlO3,6W. of which sum S!Sjj.3l
is carried in the general account of the city.
The City Council, under legislative author
ity. las recently authorized the issue OF school
bonds to the amount OF 0,OlO to bear interest
at tae rate of four per cent, for the pur pose Of
providing a new school house on Pine str rect
ZONE cemetery funds are now uninVested and
available securities are needed in which TO in
vest the accretion to the sinking fund to he
made during the present year ! would. there
fore, suggest the advisability Of reserving n
portion of these school bonds for the use of the
cemetery commissioners and Of the city in the
ways above indicated.
There seven outstanding reservoir
notes of $500 each bearing interest at the rate
Of per cent. The UNPAID debt on account of
RESERVOIR Colstructioh - iIereiore, q ''on.
The redistribution of nited states deposit
money unoer tue census ol !o'y' auucu cpfo"''i
this sum was forwarded by the state treasurer
during he past year. q. ID. Weller. trustee of
~ '''ts ~ ~. ~ up VIZ
total amount OF the fund. In one sense this
constitutes an indebtedness Of the city, but
Iharan Gn oe OH tG r ny a" t M
eHcelV ~ ttic 1ll oo,oic efcit Oh lt9
~ u ,j 'S ,oset ~ ooi 'iO@'e part Vi
nun ,.,.,..
,u,. ... r, 80 10. ,,..,
t ue tfue' 1, iunu Va go" HeI =, eu
ION 'Ho 4N''to! tSt 49,, anu .ntio
Iur mo peheIt u INC ninWoou avenue
cSmete!E yleiaea, IN IN INSl an income
oi sot' wv sun 9i.V'~ ieT5 tnnn tne income O.
tn1 SAM Iuiiu ~ ~, ne tuna neld on &C,
y. tIo ia 5 iCn " - ~ etIV
curing the year l9 ~ from No 10 80 Inc
lme9nle rom tni9 Iunu III 4o'l "ts S'io' sun
h-'.o1 Tvs ~ w iLruue ~ lo'o rom tit
sHnmid nrnriahiv H nv.icJ ard Us, 10
sH0p4u III Na'IuJiy 10 nEestot anu ie.ih ny
NH tn VIC" primarily u 'he security OIL pr'h-
tlpaI.
TAXATION
rho en.no;oioo,di,i,,, rs tho oit,. i, ,a.,..
ing llnancIai coiu!lion Oh tI I Guy Is favor
able to a low rate OF taxation the present year
q mouerate lui.u LOT permanent l!hproNe lneh
Is a.Ways NOR yua!o.ou7!S e%pehGed man
i%I@e "ne f De O.
UuI cttIHehe LOT c tle present y'ar can ! ilh con
HVoI" ne HleI IRON Tue dEdtl9 oi Il taA OF IVY
49, - 1870 az N'4'N4't " 40
mine IN tHIh r'EHru' anu tue taA
lh4efs IseI reasonably assured una
the a'o'e rate o. lSAAtloh WAL not DC eA
cecuti' inc graft lIst VII! pFetty surrey SHOW
some It,crta,o 'th'! ~ ne Iuud, AT INC uispusa
based On The lit ol last YEAR. beside al ;
t'lrc Wheh out iue capita! Is Inclined, thougl
WIN ONE l!h4''tE' 10 see" Investment mere /
ID "l the utmost importance that the rate o
taAHt.oh s!loulu 10 auch a. 10 ihV4le ana hot u
Iyiel H. rale OF Sl3 upon the thousand o
lht APPRAISAL OF properly WIZ he universally
Regarded a. imposing no uhuue bufdeH upol
tNloseu aAu active cdpI'a4
STREETS AND SEWERS
-.
WORK az TIE mouth ui the main sewer shout
pc promptly euteieu upon Two plans nav
been chiefly considered, ana, though with son.
Ae. llahcy, would advise against that suh
hlIttti .Dy Engineer Hleai IL during the PAS
year lHe otheT' WHlch Attd not mere DC OK
p!dlhcu, can probaoly De carried on in:cO'opci
"tloh WIZ the corlopht"H owning lie Ian
about mo point OF discharge.
lion Of this plan can be calculated viii, n con
t,uoThne ueRlee o. certainty: III Is gaze TO IA
tilH' ~ codu n"Iu4y lNll 10 aH"Iu adequate re
!lrI from LILO present offensive conditions
eAulhs me worn ~ the mourn OF the lnal
eeN'F We amount o. sever construction IN ca
slFrets may villa plorf!cty 10 some" Nat llliil