The Savannah morning news., 1904-03-18
GROUND RENT LOTS
GOT THE MONEY
$4,000 PAID IN CASH.
CITY TREASURER HAS ALREADY
RECEIVED THAT AMOUNT.

The Twenty-Five Per Cent. Discount
offered Expires on April L and
After That Date Only Lesser
Percentage VIII Be Allowed the
Lot HOIders-Rush Is Now on
Among Holders to Pay Up and Get
Clear Titles at the Large Discount.
City Hopes to Get 100000.
Already the city has received from
the holders of ground rent lots al
most 100000 under the special ordi-
nance passed just after the beginning
of the year, to raise funds to meet
the expenses of the new City Hall
and other extraordinary burdens placed
on the city this year.
A special resolution, it will be re-
membered, was passed by Council al
lowing large discounts to those hold
ers of the ground rent lots who wish
ed to pay the balance of purchase
money and make their titles fee SIM
pie. The largest per cent. of discount
offered expires after April / and the
holders of the lots are now paying up
at rapid rate.
Not counting what was received into
the city treasury yesterday from this
source, the city has gained over $27,-
900 by the passage of the resolution.
Large amounts were paid in yester-
day and the figures now reach almost
100000. During the last few days
there has been quite rush on at the
City Exchange on this account. Many
of the holders of the ground rent lots
are eager to take advantage of this
big discount and they are keeping the
city employees busy making out titles
and receiving money.
City Needed the Money.
When the budget for this year was
made up it was at once seen that the
city had many extraordinary expenses
to bear. The new City Hall and other
public improvements will require large
sums. Mayor Myers, in anticipation
of this condition of affairs, recon-
mended in his annual message that lib
eral discounts be allowed the holders
of ground rent lots, if they cared to
buy their property outright.
He believed a large sum of money
could be raised in this way, so that
the new City Hall could be paid for
entirely this year. Council at the
meeting following the reading Of the
Mayors message, passed a resolution
allowing the discounts as suggested,
only they were made lower than had
been originally intended. From the
very first the owners were quick to
take advantage of the city's offer. After
April l only 20 per cent. discount is
to be allowed, and that only until June
l. From June to July a discount
of Is per cent. will be allowed. 1t
will be readily seen that the holders
of the lots save money and a great
deal of it by taking advantage of this
first offer.
City Is Expecting 100000.
From now until April /, and includ-
ing that date, the 25 per cent. discount
is to be allowed 1t is thought there
will be a rush during the short time
left to take advantage of the offer. 1t
is expected that the city will receive
altogether something like 100000 by
reason of this discount offer.
There now appears to be no doubt
that a large sum, if not the amount
mentioned will be raised. At the be-
ginning of the year it was feared that
the hXpense for the new City Hall
could not all be met in one year. 1t
now appears that there is less trouble
in. getting money for the building