Evening capital. (Annapolis, Md.) 1884-1910, 1899-12-12
CIry COUNCIL CHAMBER.

| OfSWcI, JdiiicS vi. MunIOcs NhdiiSS "
Feldmeyer.
Committee on Sheet Mb,0vemenks-
| Messrs. Charles A. Dubois, William F
Williams. Nevett Steele.
.Second.-That as to the present float
| ing Indebtedness of the city, the bes
method of paying the same. etc.. the
Commission reports as follows:
The floating Indebtedness of the city
consists .oS3 Il
Estimated expenses for remainder of
year $500 2
Making total of......... ........ .....Sz66Io 81
follows:
Stock in Annapolis Water Co.. esti-
mated to be worth at 900 o,
Good and collectible debts due from
Treasurer Ruliman for City Taxes. 5000 OK
From ex-Treasurer Charles G. Field
From Market Master and City Clerk. 500 @
Making total of..... 100 oc
| Aid after deducting from the assets the
20 per cent. thereof applicable to the
Sinking Fund, leaves a balance OF
$40 400 applicable to the payment Of
floating indebtedness. which leaves the
city practically without a floating debt
needing to be otherwise provided for
than by current receipts.
The floating Indebtedness above re-
ferred to is itemized by the City Treas
urer and includes debts due to the Farm
ers National Bank, balances due for con-
formations of property on Conduit street
extended and all other known floating in
debtedness of the city, while in the esti-
mated assets of the city are not included
its real estate and other holdings, but
only current receipts applicable to the
payment of debts. The Commission,
therefore. reports that the city. except as
to its bonded debt, which is provided for
by the creation of the Sinking Fund, is
practically out of the debt.
zzna.-The Commission further re-
ports that it is unadvisable to proceed
with any further improvements involving
large expenditures Of money. until we
have first made an effort to secure legis-
lation authorizing the issue of bonds, as
hereinafter set out. That if the Mayor
and City Council, pursuant to proper au-
thority, secured from the Legislature, as
hereinafter set out. should bond the city
for one hundred thousand dollars addi-
5 per cent. for a period of one hundred
years, payable in sums of ten thousand
dollars at the expiration of every ten
years. that it would require tax of
twenty cents on the 500 on our assess
able basis of S3,ooooo to pay the in
terest on this bonded debt, and provide a
Sinking Fund for its redemption. That
if this money were used exclusively for
making public Improvements, there would
be cut out Of the current annual tax rate
the tax now levied for public improve
ments, and the total tax rate of the city
wauld uot be appreciably increased,
while the burden of paying for such inn
provements, instead Of being borne en-
tirely by the present generation that made
them, would be spread out over a hun
dred years, and be participated in by the
persons who get the benefit of these i'm
provements, and the tax for the same
would not be burdensome to anybody.
And that in order to inspire confidence
in the people as to the application of the
proceeds of the sale of said bonds to the
specific Improvements which may be
recommended by the Commission and
approved by the Mayor and City Coun-
Gil, that the expenditure of the money
should be under the joint authority and
control of the Permanent Improvement
Commission and the City Council. And
this is the more necessary because, in all
probability, it will take number of
years to make the Improvements needed
by the city, and as the City Council is
constantly changing, both in political
complexion and in the individual mem
bers who constitute it, it is very desirable
that there should be some permanent
Board to cooperate with the City Coun-
Gil in this matter. We recommend,
therefore, that the existing Commission
be made permanent in the Act of Assem-
bly, to be passed authorizing the issue Of
bonds, and that vacancies occurring in
the Permanent Commission be filled by
the Joint action of the remaining mem
bers of the Commission and of the City
Council. unless from any cause the whole
membership of the Permanent Commits
sion should become at one time defunct,
in which event new Commission to be
appointed by the City Council.
And we further recommend that after
the Commission has recommended inn
provements, and its recommendations
have been adopted by the Board, that
to do the work be advertised
for by the proper officers of the City
Council under its direction, and that all
bids be opened in the presence of the
Board and the Commission, or commit
tee of each, and that all contracts be
awarded under the joint authority of the
City Council and the Commission. And
that the whole proceeds of the sale of
bonds be deposited in a separate and
special fund in the joint name of the City
Council and the Commission, and be ex-
pended by checks drawn, signed and
countersigned, by proper officers of the
City Council and the Commission, and
that the details and particulars to carry
into effect these arrangements be specif-
cally set forth in the law to be submitted
to the General Assembly to carry into
effect these objects.
The Commission further recommends
that the law should provide that the ques-
ton of issuing bonds should be SUBJ
mitted to vote Of the taxpayers and
bona fdk householders of the city of An
naDolis. the qualifications reor;red IN