Bluefield evening leader. [volume] (Bluefield, W. Va.) 1906-1911, 1907-06-19
TO THE VOTERS
OF THE CITY Of
BLUEF|ELD

The following reasons against the
old issue are submitted for your
cons Iteration:
. the propos." 500 10000, S75.-
co 90 is design...G for paving
streets. The property owners pay
f" t~o-thirds OF the paving between
eros, streets. and the street car COM
navy pays for the paving between
the rails and one foot on each side.
This leaves only "A narrow strip to
be paved by the city on Bland street
and Bluefield aud Princeton avenues.
the oity's portion hoing loss than
four feet on Bluefeld and prin ,cton
avenues.
The city's portion OF all paving done
last year only amounted to $4,000. 90
The proposition is to pay interest
on $100,000.OO from the date coun-
ell declares election carried for thirty
years, when several years must pass
before the money can be used Why
pay interest on bonds lying i'm bank
unused? Who gets the profits? Not
the taxpayers!
The bonded Indebtedness of Blue
field is now $50, 10000. This is made
up of two issues, one made of S25,-
10000 many years ago bearing in
terest at 8 per cent, and the other.
OF more recent date. OF $35,OOO.oO
The Interest on this $6O,OO0.OO
bearing interest at s per cent
bonded Indebtedness is $3.75O.OO a
year, and must be paid annually. IT
is understood that the bonds are 80
year bonds, and i'm addition to the
interest a sinking fund sufficient to
pay the pincipal of said bonds at
maturity must be provided. As there
are $6O,O0O.0O of these bonds So
10000 must be provided for each
year. Add this 100000 to So
| 10000 interest we are now paying,
and the people have have to pay the
sum Of $5,75O.OO every year on ac-
count Of this $GO,OOO.OO indebted
ness.
If you add to the present 500
10000 bonded indebtedness. with It's
$4,000 annual burden on the tax
payer an additional sum OF $780,
10000 in bonds at per cent, you
will have something like the follow
ing:
*1OO.OO0OO at per cent will
make 100000 interest And as
the principal must be paid in 80
years, a sinking fund must be pro
Vided for that purpose which must
be $3,333.00 yearly, or total of
$8,333.OO a year Add this to what
must be paid on the $GO.OOO.OO
bonds above referred TO. and you
have the sum of $14O83.OO which
must be paid ON the bonded Indebted.
ness of the city each year
The city taxes ON all real estat,
in BlueGeld this year amounted &,
$10,9S95.34. If the 100000. OF
bond issue is voted it will requir,
$1AOS&.OO to pay the interest an,
sinkiuf fund on BlueGclds Indebted
ness which is considerably more thar
all the taxes Bluefcld pays into TN
city on real estate.
DO the people Of Bluefeld want {,
incur bonded indebtedness oI
which all the taxes on real estat
cannot pay the interest and sinkln
Z fund.-
Suppose the city should go dry am
lose the $28,OOO.OO from saloon n
cense how would your taxes be- al
fectcd2 Think Of it,
The affairs Of the city of BIuefel
arc conducted i'm a very loose an
unbusiness like manner. The Cham
Der of Commerce recently appoipte
% committee TO- audit the books Il
the city which was unable to max
any definite report for tho reaso
That the books Of the city were &
such shape that This could not %
done before the election and tho Com
mittec recommended that the cit
council Immediately employ a com
petent accountant to put the city
affairs on strictly business basil
and install a complete set of book
for economically correctly and leg
ally keeping The records and accounts
of The city"
But The city council promises that
| If you will vote the bond issue the,
VIII get an expert accountant ITO
/ straighten out the ciy's affairs. We