The Opelousas courier. [volume] (Opelousas, La.) 1852-1910, 1901-12-07


require $1500.00 per annum tt
pay the interest on the bonds ant
there would remain surplus, ou
of which to create sinking fune
for redemption purposes, of 81,
345.5O, provided all the bond.
should run to the extreme limi
of time provided for in the cal
for their issuance, but, as in the
case Of our waterworks and cleo
trio light boads, it might be stip
uIated that the Last bonds shouk
run for twenty , years and that
81 10000 of these bonds sh9ulc
mature and be redeemed annually
In that event, it wa3.Laf>oe waee3.sLa Fneces.
-sary the first year~to add to the
$1345.00 from some other fund Of
the town the sum of $4,000 tC
redeem the first maturing bond
After redeeming the first $500. .0C
worth of bonds, there would re.
main the second year surplus OF
$1425.00 after paying the interest;
this would require the addition
from some other fund of the sum
of $500 for the redemption OF
the second $150O.0O worth OF
bonds. After the second year, at
the present valuation of property.
the tax of five mills would more
than redeem the maturing bonds
and pay the interest. There would
be proportional decrease Of in
terest each year on account of the
redemption of the bonds, and if
there were no increase in the
valuation of the town,
the rate of taxation could each
year be decreased to such an ex-
tent as to meet the exigencies of
the'case. But it may be said that
these bonds could not be nego-
tiated on these terms, that the
would only make such
an investment with so low a rate
Of interest ON account of it's safety
and permanency. Admitting all
this for arguments sake, could
not the town each year deposit its
fund with some bank,
savings bank or trust company
and obtain d low rate of interest
therefor. Tt may also be said that
the imposition of a FIVE mills tax,
in addition to the tax which is al
ready being paid, would be too
onerous. This objection can be
met with the statement that with
its present revenues from general
and high license the town
has more money than is necessary
to meet its current. expenses and
there could be reduction of the
general tax from ten to five mills.
If this reduction. were made the
town, independent of the tax for
lights and water, would have a
revenue of more than SIG, 100000,
an amount amply sufficient, if ju-
administered, to defray
all the expenses Of the town.
This seems to me the most
the most practical and
the least burdensonle way in which
to solve this sidewalk problem
The plan suggested would furnish
> permanent and an ample fund
with which to- begin operations.
Ii the amount realized from the
bonds should prove inadequate, it
might be, supplemented, from,
time to time, by appropriations
from other funds. Now, if the.
town assumed the construction of
sidewalks, to be paid for, in whole
Or in part, as provided in the
sidewalk ordinance, out of the
revenues originating from present.
sources, 1t would be relying upon
something uncertain and would
not have on hand, at one time,
enough money to make much
Roadway in sidewalk construction.
It's true that high license brings
INTO the town treasury quite a
sum, but this source of
revenue is dependent upon the
will of the police jury and if said
body, at any time, were to deter
nine to make the whiskey license
IL the parish the same as that of
The State, the town would fall
below its calculations
md would find itself in such a po-
sition as would compel it either.
% levy a. special tax or abandon
It's undertaking for want of the
necessary funds for it's prosecu-
Jon. | might further prolong.
his article, but / guess ] have.
aiken up psenough of your valuable
time. So, will close, with the
nope that the people will take.
his question up and each one of
hem give sufficient thought and
to the side walk question
is to act in the matter in such q
way that something real and tang.
BILE may result from their actions
Yours respectfully, j. i
G. J. THOMPSON.
= 4 y