The Columbian. [volume] (Bloomsburg, Pa.) 1866-1910, 1896-06-04
VOL. 81
TOWN COUNCIL PROCEEDINGS,
Tax Rate Settled and Report Of Finance Com
mittee Presented.

There was a meeting of the Town
Council last Thursday night, and aside
from the presentation of the report of
the finance committee very little bust
ness was transacted. The tax rate
was fixed at nine mills, the same as
last year, and the line dividing the
suburban from the built up portion of
town remains the same as last year.
The question of electric light was
discussed, but owing to the absence
of Mr.. Mullen, General Superintend-
ent, no action was taken. 1t was de-
cided that all parties interested meet
Monday evening for the purpose Of
coming to some agreement.
The grade on West street between
Fourth and Fifth was slightly altered.
FINANCE COMMITTEES REPORT.
The Finance committee, consisting
of Messrs. Kunkle, Richard and
Kocher, reported that "from an exam
ination of the last annual statement,
as approved by the Auditors on APP. /
7, 1896, it appears that the assessed
valuation of property within the Town
of Bloomsbury is $a,a31oaS.oo, and
that 2 per cent. of the above valuation.
or the constitutional limit beyond
which no debt can be legally created,
is $4475S.56.
A further examination of said state
ment shows, however, that the bonded
Indebtedness of the Town is now
$44345.oo. Add to this the floating
debt OF $8,oI2.0I and it will be seen
that the total amount of the Towns
Indebtedness is $5a,351oI, or ST.
599.35 above the constitutional limit
of 2 per cent.
This Indebtedness in excess Of the
constitutional limit is made up of the
Ringrose judgment of something over
$5,ooo.oo, and outstanding Town
orders, representing unpaid street
damages, etc, and the question as to
what action the Council should take
in disposing of the same has been the
chief subject of consideration by your
committee.
We have been advised by the Town
Solicitor that the total amount of this
Indebtedness being beyond the con-
stitutional limit and, with the excep-
ton Of the Ringrose judgment, ille-
gally created, any bonds issued in
payment of the same would be like
wise illegal; that while the town may
at any time fund its floating debt, it
can only do SO when the debt is within
the limit prescribed by law.
This being true, the only method
by which immediate payment can be
made is the laying of a special tax for
that purpose, or an increase in the
present rate of taxation to such an
amount as would raise sufficient money
to liquidate this eacess indebtedness.
Either of these methods would be
burdensome to the taxpayers, and, in
the opinion of your committee, are
not at present necessary.
There is no demand for the imme-
diate payment of this money. The
owners of the Ringrose judgment
and the outstanding town orders for
street damages are perfectly content
to hold the same so long as their IN
terest is promptly paid. With the
possible exception of a few hundred
dollars this entire amount of $500
IS is held by the parties entitled
thereto simply as an investment. Nor
is there any necessity to raise money
for the purpose of paying such bonds
as will mature during the present year,
since they can be re-issued as they
fall due.
Under these facts, your committee
would not advise an issue of bonds,
the laying of special tax nor an un-
usual increase in the present rate. In
our opinion the question Of the Towns
finances can be best solved by an in
crease in the present rate of taxation
of at least one mill. This, together
with an economic administration Of
affairs and a refusal to open or accept
any new streets where damages will
be imposed upon the Town, will pro-
vide sufficient money for current ex-
penses, and at the same time enable
us to materially reduce the indebted
ness which is beyond the constitu-
tional limit"