The Anderson intelligencer. [volume] (Anderson Court House, S.C.) 1860-1914, 1902-06-25
The City Finances.

The City of Andcrson.is just enter
ing upon an era of phenomenal growth
and prosperity, and it is thought not
| inCppOrtunc to direct attention to the
! condition of the finances 3f the city
| and ;,Uint to facts which appear to
have been lost sight of by at least the
average citizen.
The floating Indebtedness Of the city
| is comparatively nothing, if there be
any at all, but the bonded indebted
ness amounts to q sum closely approx
mating $4,000. The limit beyond
which the bonded debt Of the city can
not 80 is fixed by the constitution at
eight per cent Of the taxable property
OF the city. BY the returns of last
year II 500, 900 was the amount of taxa
bic property. eight per cent Of which
gives exactly 2144,000, the limit
In the very near future improve
mrnts, as Il result Of increase in popu-
lati0n, will be necessary and more
money will be needed, generally, in the
management Of the city's affairs.
Right now it is desired by the Trustees
OF the Graded Schools TO enlarge the
schools, which will call for an cXpendi-
turc of not less than $1,000. Addi-
tlonal bonds cannot he issued, and it is
easy to see that citizens composing the
City Council will shrink from assum-
ing the responsibility of creating q
tlOnting debt of any magnitude II
bonds could be issued the prescribed
method of petition and election would
be gone through with ani. the approval
the debt created, but for the Council to
borrow money and make apprOpra-
tions simply by virtue Of their Office
entails Il little more OF responsibility
and probable censurc than most of
them are willing to voluntarily assume
Asa result, many improvements and
additions, greatly needed may be de
ay:.:! g: perhaps iij-Vci begun.
This much has been said as Il pre-
mise. principally, to the following
facts: Fifty thousand dollars of the
Sl4l,OU of bonds for which the city
stands obligated to-day, are the
Black Diamond Railroad bonds, voted
by the people in an election held on
the 9th day of January, lS!,S, to be held
iii escrow and turned over to the Black
Diamond people as soon as the road
reached the City OF Anderson.
1t Is true that no part of these BOMBS
has ever been paid, indeed. the bonds
have never been printed, but all other
preliminares- petition, election, &c.
have been carried out and the Obli-
CATION of the city to issue and turn over
these bonds in the event the rcG;: is
ever built il as binding to-day as any
| obligation resting upon the city. There
was no limit as to the time the road
| should be completed to Anderson, and
IN the absence OF any steps to relieve
the city OF this obligation, it remains
| OF force and must be taken into con-
sideratiOn when arriving at the bonded
| indebtedness or the city as conte,upla-
ted by the constitution.
In discussing the matter of erecting
| another building for school purposes,
| one or more OF the present Council and
several prominent citizens suggested
that ii these Black Diamond bonds or
more correctly the obligation for them,
was out OF the way, provision for this
| and for other matters that must come
| up soon, could easily be made by bond
issue, but the Council would hesitate
to create IL floating debt under existing
circumstances. t was in 1897 that tho
agitation OF the Black Diamond Rail
road project reached its heighth and
culminated iii a petition by the free
holders and the passage OF an ordinance
Dec. eth, 1891, providing for an cleo
| ton on Jan. 9Th, ISIS. The election
bonds bearing > per cent interest to he
| held in escrow. The history of the
progress made Ivy those in charge of
securing finances for the road, is prOba-
bly, familiar to all. Strenuous efforts
were made by Mcssrs. Kirkby, Dicker-
son and others associated with them,
| and they had the earnest CO. operation
s,f
men who have always had the best
interests o1 the city ut hcart--but in
| splteot this nothing hns been accom-
| plishcu during this ii We years 0f effort
| To give hope that this road will be
built even III the very remote future
| Indications. to the contrary, in railroad
| affairs, point rather TO the fact that
| the possibilities of building Il road
along this proposed route. are more
! remote than ever before.
These questions. then, present them
| selves: Should net the city br relieved
| OF the obligation of these bOnus? Why
| should they stand in the way of issu-
| ing bonds Tor necessary improvements,
| throwing upon the shoulders OF the
members OF the Council the response
bility ct creating IL tlOating indubtcd-
ness: Does not this $4,000 form Il
liability ot the city which has intlu-
enccu anu Will continue to influence
tn" value placed upon other bonds of
the city?
The Legislative enactment of 1896,
under winch the election providing for
these bonds WAS held. giants full and
complete powers SO far us itpcrtnins to
The Issue and validity nf the bonds,
but whether the Council has the power
To nd itself OF this obligation by sim
| ply passing an ordinance is Il matter
| tor considers .tiOn. An Act of the legis-