The Paducah evening sun. [volume] (Paducah, Ky.) 1906-1929, 1906-08-02
Board Expects TO Redeem Bad
Spots in Paducah.
Bond Issue l. Explained In Detail
and Economy of Project Fully
Disclosed.
FUND WILL DRAW INTEREST.

"our PLAN" said a member OF the
board of park commissioners today,
rs to redeem the bad spots OF Pa
ducah by converting some OF the
worst tenement blocks into city
parks. thus inducing the erection of
better class Of houses in sections
now given over to shacks and unsan-
ltary modes of living.
This plan Is of European origin.
and Is being adopted In all the larg-
er cities. We intend TO try Il here
before Paducah gets to a size that
will make the experiment excessive
ly costly. In Kansas City. which has
the finest system IN the United
States. this plan has been followed
and the most miserable tenement dis
tricts have gradually been converted
into open parks and breathing places.
and the neighborhood thereby so inn
proved that better houses have been
erected and a better class OF ten
ants induced To live there.
"Paducah has some sections in an
unsani,ary, unsightly and menacing
condition. that never will be rene
died until the city takes hold OF the
property and tears down the build
ings. BY this plan we hope to ac-
complish two results: the destruc-
ton OF the unhealthful tenements
and the acquisition OF park sites at a
minimum cost. For this kind OF pro-
perty OF course. will be cheaper
than that in better nelghborhoods.
1--WE believe that We will be given
considerable hand for parks. and.
perhaps. when We have purchased a
tract. some owner Of adjacent prop
erty. realizing the benefit OF the inn
provement. viii grant us an extern
sion. thus enabling us to build larger
parks than we anticipated.
"The question OF riverside park
Ia dificult. The property is held at a
high figure. but we are hoping some
public spirited man VIII come for
ward and offer his land cheap or give
It TO the city. Such a park would be
extremely popular. and most cities
along the river have section Of the
bank set aside for public recreation.
The Bond Issue.
Transferable MISUNDERSTANDING
seems to have arisen among the citi-
zens OF Paducah regarding the prop
ositIon of the board Of park commits
sloners to issue 100000 in munich
pal bonds to create a park system,
partly owing to a lack OF detail in
the explanation in The sun and part
~ TO the fact that citizens did not
regard the statement that not all
the money will be spent at once
Citizens In many Instances figured
that an income OF $1,000 a year
would be sufficient only to pay the 4
per cent interest with $1,000 bal
ance TO meet contingent expenses. AT
that rate OF course, the bonds could
not be retired In less tnan 100 years
Il was that simple problem in arith-
metic the board has been engaged on
for several weeks. and the members
feel that they have solved H.
but a fraction of the bond issue
will be spent the nrst year. The
park sites will be purchased, the
ground graded and rolled and. per-
i, haps, trees and grass planted. Then
the rest OF the work will progress as
rapidly as possible. but during the
30 years OF the bonds life all cur
rent expenses will be met out of the
issue. and there will be some re-
naming at the end Of the term.
In the meantime the city will be
in receipt OF an annual revenue of
per cent OF the levy. At present
this amounts approximately to So.
900. II never will fall below. that.
unless some terrible catastrophe
should give Paducaa an Industrial
backset. while. as the assessed value
OF property Increases. the park fund
will grow. That the assessment will
increase from 100000 to 5000 900
annually. II Is not unreasonable to
presume. and this naturally makes
the park appropriation larger.
But taking the $4,000 income as
a basis this will pay the interest
each year and leave $1,000 surplus
TO reduce the principal.
eve propose to take part of the
money derived from this bond issue
TO pay the first two or three years
installments OF interest. During this
time the annual revenue of five cents
on the 500 assessment will be ly-
ing In bank. accumulatIng per