Deseret evening news. [volume] (Great Salt Lake City [Utah]) 1867-1920, 1904-02-16
exhaustive Document Submitted
To City Solons at Last
Nights Session.
WORTHY Of CONSIDERATION.
r,,cs Economy in Order That the
ri,cs Bonded Indebtedness May
Be Reduced.

~ Il printed lHS '"V'e
,,.,th the condition OF the various de-
sartnents Of the municipal government
IA roln,s out number OF incidents
:, ,aulty laundering on the part OF
~. mast administration which has re-
.r,Ad in deficits in several funds OF
,be city. The message, which follows
10 NIL also contains q number OF very
innortant recommendations
MAYORS ONCE, Salt Lake City Utah,
Feb. 10, 1904 ,
Members of the City Council:
centlemen-I herewith respectfully
submit this, my first communication, 10
you together with the annual reports
a the several departments OF the city,
FOR the year 1903. Offering herewith such
suggestions and recommendations as
me occasion seems TO warrant.
BONDED INDEBTEDNESS.
The bonded Indebtedness Of the city
"a ,9 T9S,OOO. being l,3is per cent inter-
sst bearing bonds OF $1,000 each, and
iI5O 4 per cent lcterest bearing bonds OF
81 900 each, as follows;
Issue of July /, 1892, ten-twenty years
bper cent Cseries No, ~, s5is.O0O.
Issue OF May /, 1894, ten-twenty years
ner cent (series No, 81, $4,000
issue OF Sept. l. 1898, twenty years,
4 ner cent (series No. 81, 100000.
issue Of oct I. 1900, ten-twenty years
per cent (serIes No. A, water), $3.50,
40
Issue OF Jan. /, 1901. twenty years,
DER cent (series No. y, $500 900.
Issue Of July 1, 1901, twenty years, 4
per cent (series No. 81, 100000,
The annual interest on above amounts
10 sl25OO.
The ten-twenty-year issue OF July /,
Iss9 and the ten-twenty-yea Issue OF
May /, 1894, should be funded at as
early date as possible by the Issue Of
like amounts at less interest, | have
no doubt that new issues cancelllng the
nlatured Issues, could be placed upon
the market at par with AZ or possibly
1 per cent interest Could this be
done the city would save at least &C.. 74O
per year--an item certainly worth con-
sIdsrIng. In addition TO this the city
should by all means receive a premium
On these bonds
SINKING FUND.
Sub 6, Sec, 2O6 revised statutes Of
Utah, 1895 provides:
The city council shall have power
10 borrow money on the credit Of the
corporation for corporate purposes, in
The manner and to the extent allowed by
The constitution and the laws and to
issue warrants and bonds therefor In
such amounts and forms and on such
conditions as the council shall deter
mine The council shall provide for the
payment OF the interest on such bonds
as the same shall become due and for
sinking fund for the payment OF the
principal thereof within 20 years after
Issuing the same"
AS the above section has never been
put into effect by former city councils,
respectfully invite your attention to
the law that you may take such steps
as your honorable body may elect In the
premises.
TREASURER's REPORT.
The annual report Of the city treas.
urer .OWs:
Cash on hand Jan /, 1903 ...ns 201, 109. "a
Receipts from all sources dur
ing the year ..,,,.,,..,.. 740, 55t. II
--->
Total resources during the
war ,',''.,,,,,,,,,..,,, ,G63. Ia
Ioml disbursements during
Inc year ..,.u.,,..u,u.. 7SS,GS7 10
Cash In bank Jan. I, 1904. -. .sl52, 976 81
LASS unfedeempd Warranta no
sn0Nn by auditors state
meht "',",.".,.,.". 7S,lOiS6
actual available cash Jan. I,
.d dM ,.,,,o;;,..",....,",s 7tS72 20
"VIuhl available cash Jan. 1,
'' ''''',,',,,,,,,.,,..,,. l66,SlS 81
n
O'''''se curing year 1908. .u,S 1896, 81
ECONOMY NECESSARY.
az Is probably unnecessary for me ia
wa" ule attention Of the council to the
nmeseSsl'y OF economlzing In public ex-
penses Without any reelection on past
oounc9s Tor lavish and often useless
,Hpenlltures OF the money OF the peo.
p'g IL Is apparent that our expenses
must pe Kept within our income, We
maVe long since arrived at our debt
n nhlt Tor general purposes. beyond
"mlch we cannot go. AS will be seen,
VS. total bonded indebtedness alone Is
s-,SS,VOV, upon which we are COM
V.en 10 pay an annual interest OF
,'''Vv' rms entire indebtedness with
tue exception of $3.50 600 In water bonds.
IW general purposes alone, the an
,wTal interest for which amounts 10
~.I'.l ana Is payable out of the gem
ssral tnnd, which derives its revenue
ton. W." e1'''"' '"N"-
me total amount collected for llcen-
syS curing the years was Sl6s.Si2. 20, and
~ total amount Of fees collected by
~, .le several departments amounted Ia
.is'Nblo, The city taxes for general
PURPOSES, collected by the city treas
gner ana covered into the city treasury
ss1u''hg the year. amounted TO S2sf 9Ii.
~ leaving n balance yet due TO the
Guy OF some s36O0O
AUDITORS STATEMENT.
,h The statement OF the auditor shows
v actual available cash at the begin
mlB OF the year to be s7i,S72,2O, but
.S amount Is not available for gen
tu operating expenses: In fact all
Su' some flSOOO represents balances In
'peVa' FUNDS, raised from special as
DON'T NEGLECT
i iUur stomach and BoYels. SO much
spend upon them Your health, hap
a 'nsss and even your life Ia controlled
so se'y Dy these organs, II IL therefore
NY important at the first symptom OF