The Topeka state journal. [volume] (Topeka, Kansas) 1892-1980, 1904-07-22

City Treasurer Hale is digging up
statistics about the city's debt to be
used by the Ways and means committee,
which will probably meet next week, in
drawing up this years city tax levy.
There is a good deal of interest in the
tax levy this year. because of the great
amount of economy talk which has
been going on in city hall circles. The
council seems to have some men in it
who talk economy pretty freely, but
when they have an opportunity to prac-
tice that noble art a little, are usually
lurking in the woods.
Only one thing is absolutely certain.
and that is that the levy to pay interest
on city bonds will nave to be increased
half a mill. Since the 1904 tax levy
the city has issued $79. 900 worth of new
bonds to refund the floating debt
These new bonds bear Az per cent in
terest. so the city must raise about
$4,000 more for interest this year than
IL did last. If the city decides to leave
simply tack on the extra half mill for
interest. it will mean tax levy of 201A
mills instead of 20 mills.
If the council wants to economize
somewhere else, and save the extra half
mill which must be added to meet in
terest charge, it is most likely to be
done by reducing the levy for park
improvement to u mill This levy was
raised to 1 mill last year. at the strong
solicitation of Councilman Swendson
and others. If the council put the park
levy back to Il mill. it will save the
nalf mill which must be added to the
interest levy.
There is strong proba bility that the
levy viii not only be increases the half
mill for interest. but that it will also
be obliged to carry an extra mill to
provide fund to pay off bonds which
come due next year. and still another
mill. and possibly IL mills, to paw
Judgments. This would make the total
levy as follows:
Last vear rsVy lev: % 80 mill
To redeem bonds. !. 90 mill
To pay judgments. ...-.-.......... so mills
Total .....- ....................23.o 90 mills
The city has several big judgments to
pay, sooner or later. One Judgment
was secured by the Topeka Water COM
pany In the South Topeka hydrant rem
tai case. The amount of the Judgment
with accumulated interest. is about
$4,000 There is also a judgment for
$50 IN favor of w A. Roberts. it would
take about liz mill levy to pay the ont
standing judgments.
There are two series of bonds which
come due in 1906. one Of $14 600 and one
OF $4,000 The city has only IS. 600 i'm its
sinking fund, and the remaining $40 =
600 must be raised by a levy if the CITY
pays off the bonds. OF course the bonds
can be refunded, and allowed to run If
the city so decides.
Mayor BergundthaI is in favor Of
making the mill levy for taking lso the
bonds which fall due. These bonds bear
6 per cent interest and the total amount
which the city pays out on them in
interest every year is $1OSO.
Topeka's tax levy has been steadily
Increasing. Back in 1900 it was II mills
An examination of the levies for the
various years show that the increase
in the levy has been due mainly to the
increase in the city's bonded debt ami
the consequent increase in the interest
charge The bonded debt increase has
m
bonds for street paving. This is the
first year for about five years that the
Improvement bond debt has not in
creased Another Increase in the tax
levy has been to pay hyurant rentals
For some years. the city refused to paw
any hydrant rentals. on account of lit
igation with the water company Quite
large sum accumulated in the hyd-