The commercial. (Union City, Tenn.) 190?-193?, 1907-06-21
FROM THE COUNCIL.
Statement Read to the City Council
By the Mayor, June IS.

work necessary to be done on the
sidewalks, many of which are Civ.
ing away and wearing out, it is i'm.
portant that you should be familiar
with the financial condition of the
city at this time.
You are aware that the fund that
has been borrowed to build streets
on the private notes of yourselves
and other citizens is being kept
separate and apart from the other
funds and accounts of the city yet
this money has to be paid back
with interest out of taxes to be col
lected for the present year, so far
as possible: hence it is necessary
that the city shall not go beyond
its income, even though the neces-
sity for spending money this year
is very great.
] shall not at this time go over
the affairs of the city with the mi
nuteness of detail that have done
formerly on such occasions, but
content myself with giving to you
the present condition of affairs, as
compared with last year, and refer
ring you to the books as kept by
our able Recorder for any further
information in regard to any par
ticular department that you may
desire to know.
To begin, / will state that there
was cash in the City Treasurer
hands on June /, 1906. $i1,063. 28 ;
while there is on hand now in the
Treasurer's hands, June |, 1907,
cash, 5000 80. To this should be
added $1,235.O0 due the school fund
yet in the hands Of y County
Trustee; alp 'Fh< had been
paid over asTTTbme last year
making the available cash resources
now S., 2S1 SO; showing there was
only $2.781 AZ more money on hand
one year ago than now, although at
that time the tax rate was $1.15
for all purposes, Instead of $1.00
for the current year ending Sep
TENDER l, 1907
II might be stated here tor your
information that there was on hand
in the city treasury on December
81, 1906, $183 81 showing that the
city at that time had not gone be-
yond its cash resources.
Since that time there has been
expended on the Water and Light
Plant in the way of permanent i'm
provement. S3,535 54, which sum
was kept to itself in the form of a
betterment account until the work
was entirely completed, which has
only been done recently, when the
amount, as stated, was charged to
the Water and Light Plant, and
the betterment account closed.
1t may be reasonably expected
that the ordinary expenses OF the
city will be from now until January
1, 1908, about what they were for
the same period last year and one
of my reasons for going over these
matters with you in detail now is
that you will see that they are not
any greater, because, should you
not keep within your resources at
this time, with certain other obi
cations and probabilities ahead of
us, the city might be seriously en-
barrassed.
To show you that every depart
ment is being held down and con-
Quoted with prudence and economy,
| beg to state that our admirable
system of public schools is requir-
ing no greater sum this year than
was expended upon ii for the same
time last year, there being in the
city treasury, due the school fund,
on June |, 1906, $3,0291o, while
there is due the school fund now
81, S43 90; to this add the sum due
from the County Trustee, which
will be paid on demand, S1,235.00,
ind we have $3,07S 00--almost the
Exact amount of one year ago.
TO sum up: The total cash re-
sources of the city. on hand and in
sight at the time. are as follows:
lash now in Treasurer's hands.--------S 7046S8
Due fri Coty Treasurer 10 School Fund i2SS00 {
NEGLECTED taxes fof 1906. about. $500 10000 :
Estimated receipts from merchants
privileges and ad vaiorefn taxes---- 10000 /
Estimated gain on Water & Light Plant
from now till Jan /, 1906 -.--...s--s $4,000 {
Making total cash resources --.-.---.-si4islSs t
Ia this estimate have placed the d
-otal gain for the water and light
slant for the year at S4,556 90, as f
against what was shown to have t