The age-herald., 1900-08-05
THE BONDED DEBT
 OF BIRMINGHAM
History of Each Issue and the Causes and Necessity @ Which Led Thereto

A. O. Lane an issue of $30,000 sanitary bonds was sold that the great and necessary work of extending the sanitary sewerage system might be continued to meet the demands of rapidly growing population. These were twenty-year bonds and will mature in 1905 The credit of the city was not, even in 1885, fully established upon high plane, and it required an per cent interes. coupon to move that issue. This is the last high rate bond upon the list now outstand- ing, and legislative provision has been made for their prompt retirement at ma turity.
 Next were issued, July 1885, s20,000 school building bonds. These bear per cent interest, and mature in 1915. The pro- ceeds of these bonds were applied to the purchase of the lot and construction of the original Paul Hayne school building. corner of Avenue E and Twentieth street
 Later, in 1885, an issue of $10,O00 z per cent bonds were sold, and the proceeds applied to the building known as the Southside market, Avenue D and Nineteenth street. It was the original intention of the admin istration to establish there second police station, small prison and market. It was used for time for the latter purpose, but was never successful, and was then turned over to the fire department, for which pur- pose it is well adapted. Of this issue $5 900 was paid and cancelled last month.
 In December 1886, funding bonds to the amount of $60,000 were sold and the funds applied to the payment of floating debt. These were the last per cent bonds is- sued by the city. and will mature in 1916
 In 1SS7-SS-S9 sanitary, building and pub lie improvement bonds to the amount of s475,O0O bearing per cent and running for thirty years. were issued, and the mon- ey applied as indicated by title of the bonds.
 In 1S90-91 there were issued public im- proyement bonds, in the sum of $500 00O So we'll established had the citys credit be- come by this time that these bonds were issued to bear interest at 5 per cent, and even at this lower rate were sold at a high premium.
 The growth of the city being still very rapid and the demand for public Improve ments so paramount, the city must needs continue the use of its credit, and if need be place upon it an extraordinary strain. There was no such word as 'stop." The people were moving ahead ambitious and progressive, and they demanded the exer- else of a like spirit on part of the munich pality; so, in 1S91-92-93-94, 64O, 900 was added to the debt of Birmingham. The preceding issues having well loaded the city, pur- chasers demanded a 6 per cent rate on these latter issues; and, under the pres sure of a public demand, the administra- tion accepted the terms.
 In 1883 the town of Highland, having been incorporated into the city, and become part thereof, It's bonded debt of $75 900 must be assumed, and those bonds bear interest at per cent and run until 1921.
 Thus Is presented a statement of Birm- inghams bonded debt. the causes thereof, or the necessity which led to the use of the city's credit; and something of the benefits derived therefrom. It requires $94, 750 to pay the annual interest thereon.
 Birmingham has ever occupied an unique position in the list of American cities. Gre ated under a State constitution, which lim- ited its taxing powers to a minimum, planned and plotted at a point so highly fa- vored by nature for the site of a magnifi- cent city. blessed by native and incom- ing population, ambitious and strong for reaching a great destiny as a community, she has ever been hampered by this one