The sun. [volume] (New York [N.Y.]) 1833-1916, 1894-04-24
A SOURCE OF CITY REVENUE.
New York Received Last Year Nearly
$1,000. 900 from Water Rstes Nad RsntaIs.

New York Received Last Year Nearly
$1,000. 900 from Water Kstes "ad Rsntais.
The city OF New York has better thing than
most people suppose In connection with the
business OF furnishing a fresh-wate supply
to the Inhabitants. 1t Is populariy believed
that the expense OF extending and maintain
ing the water works In the upper part Of
tho city and in Westchester and Putnam
counties. in RELAXING water mains, and keep
ing intact connecting pipes Is large and that
1t falls chiefly upon the taxpayers. who are
not infrequently commissrAtsd with. The re-
port OF the Water Register for the year 1893.
however. shows q, very different condition OF
things from all this, These were the city's
cash receipts for water furnished:
Prom m.,sn aIs 81
FROM s,ssnsOst ana dock psrmii. ....... 1882. u
FROM extra boiler permit. al 10
.sasgossI 80
<<''ot ~
ss,so3l2. 20
The city o. New York received. therefore.
last year Yearly S4.OUO,OOO from water rates
and rentals. and these figures show a sub
and previous years. as follows;
isss .....,...'s2 ssI 092 issl '...'...,sss95 stS
ls O........... 2gsOOO5 1898. 3,soSl22
Some matters connected with these rev.
enues which. since the establishment OF the
Cfoton Aqueduct. have amounted to more
than SlO,UOO,OUO. are very little understood;
10 what use IL the money thus collected putt
That answer Is easy. ~ goes into the treas
bonds hen they become due The provision
OF law under which it does so is section 3 OF
article III Of the state Constitution as
amended on Nov, g. 1891. That section pro-
Nldes that although no county containing a
city OF more than 100000 shall ever have
assessed valuation OF its real estate. an
exception may DO made for bonds Issued for
water works under one subdivision That is.
bonds even IN excess OF 10 per cent tile
assessed value OF reai estate may Us Issued for
not longer than the term Of twenty years n a
sinking fund Tor their ed 10 IN and the pay
ment OF interest upon them is provided. Thus.
III the city OF New OrE bOrrOWB SlU. 900 600 Tor
water bonds IayAele IN ten years and thu rate
OF interest Is thTeaNeT eent.-mOst waller bonds
sum OF Sl.O3O.OOO would DO added to the tax
lew the frat year. and thereafter AS much. less
the Interest on the sum put aside
This year Sl.3lB. IbA 10 will he raised by
taxation 10 pay lS04's installnent OF water
bonds already issued As may DC seen from
adjustment Of water rates aud taxes is a some
what complicated affair. out the underlying
principle once understood everything else Is
easy. The purpose OF those who orig nAlly
got through the Legislature the regulations
governing The CToton Aqueduet intended that
Il should ul,imEtely. pay for itself and those
who have succesded tnsm have pTo'reded on
the same basis. following Ia their footsteps
when II became necessary to issue new bOnds.
During the year 1875 the sum RENTED 70
With their pro rata water rents was s32.oO6.
The New York Hospital got back S2UOO Of
this and the ColoEed Home 81. 500
FlnTs foEsss nns ruTHguEO Is being sAsriaesd a
l0t ssa' lsiA a., esfoFs 1Asy nsEs " sSd s1-AdA